Broadcom scraps microchip plant investment in Spain, report says
Spain's Digital Transformation Ministry and Broadcom did not immediately respond to requests for comment.
The Europa Press report did not say why the talks had broken down.
The decision will be a blow for Spain's ambition to become a relevant player in the microchip industry in Europe. The government has previously said it would allocate some 12 billion euros ($14 billion) for the semiconductor and microchip industry, using some of the European Union's pandemic relief funds.
Broadcom announced the investment two years ago but did not say how much it would invest. The government said at the time the project could be worth $1 billion and include the construction of "large-scale back-end semiconductors facilities unique in Europe".
($1 = 0.8559 euros)
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Daily Mail
20 minutes ago
- Daily Mail
Mercedes unveils electric Shooting Brake with a range of 470 miles and expected price of £60,000
The stars are out for the launch of the new all-electric Mercedes-Benz CLA Shooting Brake – hundreds of them in fact. For the three-pointed star that is the emblem of the German premium car company features extensively throughout the interior and exterior of its first battery-powered estate car – from the stellar panoramic glass starlight roof to the front grille and lights. It makes the new zero-emissions Shooting Brake, with a claimed range of up to 472 miles on a full charge and the ability to add 192 miles on a ten-minute charge, something of a shooting star. This is the second generation CLA Shooting Brake following the first launched in 2015 and officially goes on sale next spring. The new CLA Shooting Brake is the estate version of the recently unveiled CLA Saloon with its sporty shark-nosed design – but all the real action is in the back and in the roof as it remains identical up the B-pillar. 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Daily Mail
20 minutes ago
- Daily Mail
BREAKING NEWS Five best EVs to buy with Labour's new £3,750 Electric Car Grant
The Government has reintroduced grants to slash the price of some new electric cars as part of its efforts to boost sales before the end of the decade. Transport Secretary Heidi Alexander has today (Monday) unveiled Labour's £650million Electric Car Grant, which comes three years after the previous Tory regime scrapped its own plug-in car grant. The Department for Transport confirms only fully electric models priced at £37,000 or less are eligible for the new grants of up to £3,750, with funding confirmed up until 2028-29. However, there are a number of caveats. Firstly, the scheme will not immediately be available, despite officially launching on Wednesday 16 July. That's because manufacturers need to apply for eligibility for vehicles in their ranges, rather than buyers registering grants at the point of purchase. And not all grants will have a value of £3,750. There will be a two-tier approach to the value deducted from the recommended retail price (RRP), which is determined by how green the manufacturing process is for each different model. The RAC says the grant's restrictions mean drivers will be 'picking models that are not only better for their wallets, but better for the planet too'. We've picked five of the best EVs that are certain to be eligible for the grant - though we will have to wait to find out which will qualify for the full subsidy amount of £3,750. What is the Electric Car Grant? The Electric Car Grant (ECG) is the Government's new big hope to drive sales of EVs in the run-up to the end of the decade as it continues to steer towards outlawing the availability of new petrol and diesel cars from 2030. It arrives three years after the previous Tory administration prematurely scrapped its Plug-in Car Grant (PiCG), which it launched in 2011. Over its 11-year spell, the PiCG amount was gradually wound down; having originally offered to slash the price of any new EV or plug-in hybrid by £5,000 in 2011, by the time the scheme was closed in June 2022 only fully-electric cars below £32,000 were eligible, and the amount knocked off the RRP just £1,500. That said, the scheme proved incredibly successful. It provided more than £1.4billion to motorists to support purchases of nearly half a million electric and hybrid vehicles in that period, in which it was widely responsible for encouraging early adoption of electrified cars. The new ECG will hope to reignite electric car demand among private buyers with the same level of impact after months of stagnating sales. It will be supported by a £650million backing from the Government that will be available for the next three years. However, funding will remain under review, with the scheme subject to amendments or an 'early closure with no notice' should the pot of available money 'become exhausted', the DfT clarified. Only cars up to £37,000 qualify for the grant, which rules out premium models, including every Tesla on sale. The Government's hope is that by making the most financially attainable EVs even more affordable, it will make switching more appealing to private buyers rather than just those who lease more expensive EVs or acquire them as company cars or through salary sacrifice schemes. How does the Electric Car Grant work? Unlike the PiCG, buyers will not be allocated the grant amount at the point of purchase. Instead, manufacturers must apply to be eligible for the scheme with their sub-£37,000 cars on a 'first come, first served' basis. This means that motorists will not need to fill in any additional paperwork to receive the grant, with all administration handled by the car maker, dealership, and the Government. But because manufacturers must apply for the scheme, it may take weeks for discounted EVs to begin appearing in showrooms, experts warn, The new scheme will also differ from the PiCG in that it initially be a two-tier approach based on 'sustainability criteria', with only the greenest models - considered 'band one' - receiving the full £3,750 amount. Band two cars with a lower eco rating will be eligible for a reduced amount that's not yet clarified. Bands are determined by each maker's Science-Based Target (SBT) - an industry-wide scheme, with manufacturers needing to meet carbon scores below a specific criterion to achieve the highest green standard. The bands - which could later expand beyond two tiers - are determined by how much CO2 is emitted in an EV's production, assessing the energy used during assembly as well as battery production. Threshold levels have yet to be made public. According to early reports, British-built EVs were said to qualify for band one in support of UK car makers. However, the DfT has said this will not be the case and that 'all products are assessed under the same framework'. Transport Secretary Heidi Alexander confirmed the ECG's availability on Monday night, saying: 'The EV grant will not only allow people to keep more of their hard-earned money - it'll help our automotive sector seize one of the biggest opportunities of the 21st century.' Car industry welcomes EV purchase incentive The Society of Motor Manufacturers and Traders (SMMT), which has been campaigning for new financial purchase incentives to be launched since the PiCG was closed three years ago, said the grant is a 'clear signal to consumers that now is the time to switch'. Mike Hawes, its chief executive, said: 'Rapid deployment and availability of this grant over the next few years will help provide the momentum that is essential to take the EV market from just one in four today, to four in five by the end of the decade. 'This announcement is a welcome response to consistent calls from the industry for more support, which will be in addition to the substantive subsidies already provided by manufacturers.' Simon Williams, head of road policy at the RAC, described the grant as 'just the shot-in-the arm needed to help more drivers go electric'. He added: 'Within weeks, discounted cars should start appearing at dealerships across the country. 'And, as the biggest savings will be given to cars with the strongest 'green' manufacturing credentials, drivers will be picking models that are not only better for their wallets, but better for the planet too.' Delvin Lane, CEO of charger provider Instavolt, said the grant will be a 'major contributor' to boosting demand for EVs. Five of the best EVs likely eligible for the grant While any battery electric car with an RRP of £37,000 or below will be eligible for the grant, we will have to wait for manufacturers to apply for the grant before finding out which vehicles qualify - and which band and subsidy amount they will be categorised. However, here is a list of five of the best EVs on sale currently that are available for less than £37,000 - and should become cheaper to buy within a matter of weeks. Below, we have listed them with the potential start price if they are to qualify as band one EVs eligible for the full £3,750 grant allowance. 1. Renault 5 E-Tech - from £19,245 Current price from: £22,995 Versions under £37k: all Range: up to 250 miles The Renault 5 E-Tech is a reborn version of the legendary 1980 model with battery power - and it has proved a huge success for the French manufacturer since it arrived in Britain earlier this year. With impressive driving characteristics, a premium feel to the cabin and a more than adequate range of between 190 to 250 miles, it is the worthy reigning winner of the illustrious European Car of the Year Award. While a starting price of £23,000 and even the top-spec Roland Garros version ringing in at less than £30,000, every version should be eligible for the grant. The 5 has been the best-selling EV in the UK retail sector in the months of April and May, so this is certainly one of the cars the grant is aimed at. 2. Nissan Leaf - from circa £26,250 Current price from: circa £30,000 Versions under £37k: TBC Range: up to 375 miles An all-new Nissan Leaf is due to hit showrooms this year with a starting price of around £30,000 - well within the boundaries of the Electric Car Grant eligibility criteria An all-new Nissan Leaf is due to hit showrooms this year. And, given it's the only mass-market EV produced in the UK [since assembly of the Mini EV moved to China] at the Sunderland plant in the Northeast, the Japanese brand will be hoping to meet the requirements to secure the full £3,750 'band one' grant allowance. Unlike the outgoing Leaf hatchback, the new model is very much a crossover with a jacked-up ride height and bulkier styling. Prices are yet to be confirmed, but bosses have hinted it will start from around £30,000. Even mid-to-top spec models are likely to sit below the grant's £37,000 threshold. Two battery options will be available from launch in 2025: a smaller - and cheaper - 52kWh unit offering up to 270 miles of range on a single charge and a larger 75kWh battery which ups the distance to 375 miles. 3. Citroen e-C3 - from £18,345 Current price from: £22,095 Versions under £37k: all Range: up to 199 miles There are plenty of compact EV options that should qualify for the ECG criteria, including the Dacia Spring (from £14,995) and Hyundai Inster (from £23,505). But our pick of the most attainably priced electric cars is Citroen's new e-C3, which start from £22,095. With a range of up to 199 miles, an existing starting price a little over £22,000, and enough room for five adults, this practical and comfortable electric supermini could become even more affordable if it qualifies for the full ECG amount. Even the entry-spec models get a 10.25-inch infotainment screen with Apple CarPlay and Android Auto connectivity, while higher trim levels - all of them falling well below the grant's £37,000 ceiling - have heated seats, a heated steering wheel and a reversing camera. 4. Kia EV3 - from £29,255 Current price from: £33,005 Versions under £37k: EV3 Air Range: up to 375 miles The entry 'Air' specification of the new Kia EV3 sits under the £37,000 ECG threshold with the choice of either the 58.3kWh or 81.4kWh battery. For an electric family car, it could become a tempting option with up to £3,750 off Kia's latest - and smallest - model, the new EV3, looks set to steal a march on rivals in the most competitive segment of all. With every brand on the planet seemingly offering a compact SUV, Kia's EV3 is our choice of the bunch with exclusively battery power. The entry 'Air' specification sits under the £37,000 ECG threshold with the choice of either the 58.3kWh or 81.4kWh battery. While the smaller battery model (starting from £33,005) offers a range up to 254 miles, the £36,005 Air with the Long Range 81.4kWh battery providing up to 375 miles on a single charge. 5 Skoda Elroq - from £27,760 Current price from: £31,510 Versions under £37k: Elroq SE, SE-L and Edition Range: up to 266 miles Skoda's new Elroq is one of the standout electric family cars with a RRP low enough to qualify for the new Electric Car Grant For family car buyers, Skoda's Elroq is another quality option. And with three models in its range likely to qualify for the ECG, a discount of up to £3,750 could make it compelling option. It's roomy, well-equipped and has that robust Volkswagen Group build quality. While not the most entertaining to drive, its arguably excellent value against comparable rivals. The entry Elroq SE with a 52kWh battery is the cheapest from £31,510, though this provides a maximum range of up to only 233 miles. However, the SE-L 60 and Edition 60 with the bigger 59kWh offer up to 266 miles and both sit below the grant's £37,000 cut-off for eligibility. Unfortunately, the larger 77kWh battery versions are all over the ECG's price threshold.
Times
21 minutes ago
- Times
Drivers to be given up to £3,750 to switch to electric cars
Motorists will be given up to £3,750 to switch to electric cars as ministers seek to boost demand to meet net zero targets. Drivers buying new EVs with a list price of under £37,000 will be eligible for the discount. The government had set aside £650 million for the grants, which will not be means tested. The level of subsidy will be tiered with the most 'environmentally sustainable' models, including those made in Britain, receiving the biggest grants. Chinese-made EVs such as BYDs, which are already among the cheapest on the market, would be excluded, sources said. Manufacturers will be required to apply for their electric cars to be part of the grant scheme. They will apply the discount at the point of sale and recoup the money from the Treasury. The Electric Car Grant scheme is due to run until 2029. The reduction in the headline cost of cars will help reduce the down payments or monthly repayments that motorists face, given that 80-90 per cent of new cars in the UK are bought on finance. 'This EV grant will not only allow people to keep more of their hard-earned money — it'll help our automotive sector seize one of the biggest opportunities of the 21st century,' Heidi Alexander, the transport secretary, said. 'And with over 82,000 public chargepoints now available across the UK, we've built the infrastructure families need to make the switch with confidence.' The £37,000 cap means that almost half of all new electric vehicles will be eligible, according to the EV news site, including versions of the Mini Countryman E, Citroen ë-C4 and Skoda Elroq. All Tesla and Polestar models will be excluded because their list price is above the threshold. All electric BMWs, Audis and Mercedes will also be excluded. Such a level of subsidy on new EVs was last available between 2016 and 2018 when motorists switching to pure-electric cars could claim £4,500 towards the purchase. It was reduced to £3,500 in October 2018. Grants for private EV buyers were then gradually lowered before being scrapped altogether in 2022, when the Conservatives claimed they had 'successfully kickstarted the electric car market'. Just 15,474 pure-electric cars were registered in 2018, according to the Society of Motor Manufacturers and Traders (SMMT). Last year the figure was 381,970, representing almost 20 per cent of the new car market. Despite the huge increase, the figures mask a big fall in consumer demand for EVs, with the registration figures buoyed by commercial fleet buyers. Private buyers accounted for 19.8 per cent of purchases of pure-electric cars. The decision to bring back grants is designed to help make Labour's plans to ban the sale of new pure-petrol and diesel cars in 2030 achievable. Its plans have already been watered down to allow the sale of plug-in hybrids, which can be powered by a petrol or diesel engine and battery, until 2035. The move will also help the industry meet the zero-emission vehicle mandate (ZEV), which stipulates the proportion of green vehicles manufacturers must sell. It is 28 per cent this year, rising to 80 per cent by 2030. Ginny Buckley, the chief executive of said sales to private buyers 'had stalled' in recent years. A survey of 11,000 UK drivers last November found that 76 per cent were put off by upfront EV costs. Range-anxiety — when motorists may worry about whether they will run out of charge during long journeys — has historically been a significant factor preventing people making the switch. There are now more than 82,000 public chargers and the Department for Transport has earmarked £63 million to bolster charging for motorists without driveways. Howard Cox, the founder of FairFuelUK, which has campaigned against the proposed 2030 ban, said: 'The government is hell bent on their net zero fantasy at all costs knowing full well that EVs are still not the majority of road users' desired first choice. So they are now to spend more of our taxpayers' cash on reducing the huge price of these rich man's toys.' His comments were rejected by Dan Caesar, the chief executive of Electric Vehicles UK, the trade body, who said nine out of ten people who switched to EVs never returned to conventional fuel. He said: 'The targeted incentive programme is a significant step forward in encouraging consumers to buy battery electric vehicles, and to make them more accessible. While battery-only EVs are much cheaper to buy and run than most realise, surveys show that cost misperceptions are the primary reason for hesitance. 'A generous grant, of this nature, gives a new group of interested buyers, who might have thought that going electric was beyond them, a gentle nudge into what is great tech.' Mike Hawes, the chief executive of the SMMT, said: 'Today's announcement of the return of government support for the purchase of electric vehicles is a clear signal to consumers that now is the time to switch. 'Rapid deployment and availability of this grant over the next few years will help provide the momentum that is essential to take the EV market from just one in four today, to four in five by the end of the decade.' Best for affordable fun: Fiat Grande Panda Price: From £21,035 OTR Quoted range: 199 miles* 0% APR? TBC (on sale this summer) Best for city slickers: Hyundai Inster 42kWh Price: From £23,505 OTR Quoted range: 203 miles* 0% APR? Yes, plus £1,000 deposit contribution Best for compact cool: Renault 5 E-Tech 150hp 52kWh Price: From £26,995 OTR Quoted range: 253 miles* 0% APR? Yes Best for families: Vauxhall Grandland Electric Price: From £36,455 OTR Quoted range: 318 miles* 0% APR? No Best for the masses: Ford Puma Gen-E Price: From £29,995 OTR Quoted range: 234 miles* 0% APR? Unclear Best for a comfy ride: Citroen ë-C4 Price: From £27,650 OTR Quoted range: 219 miles* 0% APR? No Best of (perceived) British: Mini Countryman E Price: From £33,005 OTR Quoted range: Up to 286 miles* 0% APR? Unclear * Combined WLTP lab test figure. Expect real world range to vary depending on conditions.
