Renault eyes 50-50 merger with FCA
Renault is considering a 50-50 merger with the Fiat-Chrysler empire.
According to the French car and van manufacturer, its board of directors met on 28 May to “to study with interest the opportunity of such a business combination, comforting Groupe Renault’s manufacturing footprint and creating additional value for the Alliance”, adding that it would issue a statement in due course to “inform the market of the results of these discussions.”
Renault is currently in an alliance with Nissan (which in itself owns Infiniti) and Mitsubishi, while Fiat owns Alfa Romeo, Chrysler, Dodge, Jeep, Maserati, and Ram.
Latest AFRs released
The latest Advisory Fuel Rates have been released by HMRC, ahead of their introduction on 1 June.
All rates, aside from the under 1,600cc or less bracket for diesels, have increased by 1p per mile. The rate for diesel cars with an engine of 1,600cc or less stays at 10ppm, while those with an engine from 1,600-2,000cc and over 2,000cc increase by a penny to 12ppm and 14ppm.
Petrol cars with an engine of 1,400cc or less will have a new rate of 12ppm, while those with an engine from 1,400-2,000cc and over 2,000cc will have an AFR of 15ppm and 22ppm.
The advisory electricity rate (AER) for plug-in cars remains unchanged at 4ppm.
UK ‘needs 28,000 EV chargers by 2030’
The UK needs to have 28,000 public electric vehicle charging points by 2030 in order to service the estimated seven million EVs on the roads by then, consultancy giant Deloitte said.
According to Deloitte, it will cost around £1.6bn to install the required number of charging points to match the anticipated demand.
Around 13,500 public charging points are currently in operation, but the firm said a large proportion of these will need to be replaced as the technology improves.
Mark Lillie, power and utilities leader at Deloitte, said: “A shortage of public charging points will seriously hamper the adoption of electric vehicles. Yet only a continued uptake of EVs will provide the confidence to invest in, and develop, a charging infrastructure – a classic ‘chicken and egg’ scenario. However, the Government has set ambitious targets for 2030 through its Industrial Strategy Grand Challenges, for EVs to make up 60% of all new car sales and 30% of the total number of vehicles sold. At today’s volumes that would equate to 1.4 million units sold per year and a total of 11.5 million EVs in circulation.”