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Global car brand teases new Tesla rival in UK that can hit 62mph in just 3 seconds – as launch date revealed

Global car brand teases new Tesla rival in UK that can hit 62mph in just 3 seconds – as launch date revealed

Scottish Sun17 hours ago

The vehicle can charge from 30 to 80 per cent in just 15 minutes
START YOUR ENGINES Global car brand teases new Tesla rival in UK that can hit 62mph in just 3 seconds – as launch date revealed
A GLOBAL car brand are set to launch a new mid-size electric SUV that could rival Tesla's Model Y.
British-founded company MG are due to unleash their latest electric offering at the start of this year's Goodwood Festival of Speed, Autocar reported.
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The mystery car is believed to be the MG IM6, already on the roads in Australia
Credit: IMMOTORS
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MG teased the release of the new vehicle in a post on Instagram on Tuesday
Credit: MG /Instagram
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The IM6 (not pictured) is able to complete a 30-80 per cent top-up in 15 minutes
Credit: Getty
The event takes place over a four-day period from Thursday July 10 to Sunday July 13 this year.
MG whetted motorists appetites with a brief tease on Instagram of a black vehicle with stylish thin red lighting against a dark background.
The image featured the slogan "All will be revealed" while the post was captioned "The beginning of our next chapter 10.07.25."
While MG is yet to name the mystery car, eagle-eyed auto lovers believe it is the IM6.
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IM is a joint venture between SAIC, Alibaba and Zhangjiang Hi-Tech – which has previously been tipped to hit European car markets.
The more premium-focused brand has already been rolled out in the Asutralian market and Asia.
The high-powered IM6 is available in China with up to 767bhp, with its top spec models doing 0-62mph in a reported 3.5 seconds.
The vehicle is also speedy at charging, with its 800V electricals meaning it is able to complete a charge from 30 per cent to 80 per cent in slightly over 15 minutes.
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Since the car was posted by MG, there is speculation it could be sold under the MG marque in the UK.
MG was founded by race-car driver Cecil Kimber in the 1920s, with a simple at its heart philosophy: "A sports car should look fast even when it is standing still"
Dubai billionaire businessman slammed for gifting baby daughter £500,000 bright pink Rolls Royce for her first birthday
The M.G. Car Company was the British sports car manufacturer from 1930 to 1972 and made the marque well known.
However, since 2007 the marque has been controlled by Chinese state-owned automaker SAIC Motor.
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It has reported for some time now that the IM brand was set to make the geographic leap to Europe, with the L6 saloon on display at MG's flagship showroom in London.
MG has already started to tack towards the premium market with its launch of the Cyberster sports car and the Cyber X concept.
The Chinese-owned carmarker has also rolled out models like the S5 EV, a more mainstream replacement for the value-focused ZS EV.

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River Island full list of 33 stores planned for closure announced
River Island full list of 33 stores planned for closure announced

Daily Mirror

time25 minutes ago

  • Daily Mirror

River Island full list of 33 stores planned for closure announced

River Island, which fell to a £33.2million loss in 2023 after sales slid by 19%, has reportedly hired advisors from PwC in order to oversee the restructuring process River Island has revealed the full list of 33 stores it wants to shut as part of a major restructure. The fashion retailer confirmed its plans last week following a report by Sky News - but at the time, it did not publish which locations would be impacted. The restructuring plan - which also includes proposals to cut rents at dozens of River Island stores - will be put to creditors in August before it needs approval from the High Court. ‌ A letter to the court, seen by fashion industry news website Drapers, has revealed the list of stores earmarked for closure by January 2026, along with plans to reduce rents at another 71 shops. ‌ The retailer is proposing rent cuts of between 25% and 75% for 36 months at 38 stores, and wants to reduce rent to zero at 24 other stores. Landlords for nine stores are set to receive full rent under the proposed plan. River Island has around 230 stores and employs around 5,500 people. The retailer, which fell to a £33.2million loss in 2023 after sales slid by 19%, has reportedly hired advisors from PwC in order to oversee the restructuring process. Ben Lewis, chief executive of River Island, said: 'River Island is a much-loved retailer, with a decades-long history on the British high street. 'However, the well-documented migration of shoppers from the high street to online has left the business with a large portfolio of stores that is no longer aligned to our customers' needs. 'The sharp rise in the cost of doing business over the last few years has only added to the financial burden. We have a clear strategy to transform the business to ensure its long-term viability. ‌ 'Recent improvements in our fashion offer and in-store shopping experience are already showing very positive results, but it is only with a restructuring plan that we will be able to see this strategy through and secure River Island's future as a profitable retail business. 'We regret any job losses as a result of store closures, and we will try to keep these to a minimum.' The Mirror has contacted River Island for further comment. River Island is closing one of its shops this weekend in Banbury, Oxfordshire. The store will shut for good on June 28. River Island stores in Willows Place, Corby, and in Vicar Lane Shopping Centre in Chesterfield both closed in April. These branches were not part of the 33 planned store closures. Full list of River Island planned store closures Beckton Bangor Bloomfield Wrexham Edinburgh Princes Street Hereford Surrey Quays Didcot Sutton Coldfield Aylesbury Burton-Upon-Trent Northwich Taunton Workington Falkirk Cumbernauld Kirkcaldy Gloucester Hartlepool Brighton Lisburn Norwich Oxford Poole Kilmarnock Hanley Barnstaple Grimsby Leeds Birstall Park Rochdale Great Yarmouth St Helens Stockton On Tees Perth

River Island set to axe five Scots stores – check if yours is closing
River Island set to axe five Scots stores – check if yours is closing

Scottish Sun

timean hour ago

  • Scottish Sun

River Island set to axe five Scots stores – check if yours is closing

A further 70 UK Stores are at risk amid a huge shake-up SHUTTERS DOWN River Island set to axe five Scots stores – check if yours is closing Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) RIVER Island has confirmed five Scottish stores that will shut following a major restructure. The fashion retailer has revealed 33 branches across the UK will close including Aberdeen Union Square, Glasgow Argyle Street and Edinburgh Princes Street. Sign up for Scottish Sun newsletter Sign up 1 River Island has confirmed the 33 branches that will shut Credit: Getty Other Scottish branches will shut in Glasgow Silverburn and Kilmarnock This is the full list of 33 stores that will shut: Aberdeen Union Square Basildon Bedford Beverley Birmingham Fort Blackburn Bolton Broughton Park Cannock Castleford Chesterfield Crewe Derby Doncaster Edinburgh Princes Street Fareham Gateshead Metrocentre Glasgow Argyle Street Glasgow Silverburn Grimsby Halifax Harrow Huddersfield Ipswich Kidderminster Kilmarnock Leamington Spa Loughborough Luton Middlesbrough Peterborough Southport Walsall The 33 shops earmarked for closure will stay open until January 2026 to make the most of peak trading, Drapers reported. The closures come as River Island carries out a major restructuring of its store estate. The future of a further 70 stores is at risk and dependant on agreements being reached with landlords to slash rent payments. The retailer is reportedly set to split its store estate into seven categories of closures and rent reductions. Only nine stores are planned to keep paying full rent, while 38 could see rent reductions of up to 75% for three years. Meanwhile, 24 stores could move to a zero-rent model. River Island currently employs around 5,500 workers across the UK, but has not said how many jobs are at risk due to the closures. UK Retail Shake-Up: Superdry and More The retailer drafted in advisers from PricewaterhouseCoopers (PwC) just weeks ago to come up with money-saving solutions. The move came off the back of poor financial results. Accounts for River Island Clothing Co for the year ending December 30, 2023, showed the firm made a £33.2million pre-tax loss. Then the turnover during the following 12 months fell by more than 19% to £578.1million. In a statement issued last week, Ben Lewis, chief executive officer, said: "River Island is a much-loved retailer, with a decades-long history on the British high street. "However, the well-documented migration of shoppers from the high street to online has left the business with a large portfolio of stores that is no longer aligned to our customers' needs. "The sharp rise in the cost of doing business over the last few years has only added to the financial burden." Earlier this week we told how major high street retailer The Original Factory Shop announced it is closing three Scottish stores this week, with a fourth set to shut next month. The retail chain sells a range of discounted products, like cleaning supplies, travel items and even some beauty products. Customers can also pick up pet products, jewellery, drinks, perfume and footwear. However, bosses have revealed that they are pulling down the shutters on nine shops across the UK this week. This includes Scottish branches in Perth, as well as Arbroath, Angus, and Peterhead, Aberdeenshire. All three stores will close for good on Saturday, June 28. A fourth store in Cupar, Fife, will also close for good next month on Sunday, July 27.

River Island names 33 branches to close and sets date
River Island names 33 branches to close and sets date

Wales Online

timean hour ago

  • Wales Online

River Island names 33 branches to close and sets date

River Island names 33 branches to close and sets date - full list Another 71 branches are also at risk A branch of the fashion retailer River Island Hundreds of jobs are at risk at River Island as part of plans to shut 33 of its UK stores. The retailer has unveiled a radical restructuring plan in a bid to reverse recent heavy losses due to a slump in trading. A new list shows which stores will close and has sent a date for closure of before January 18 2026. ‌ Bosses blamed the closures on the 'migration of shoppers from the high street to online' and higher costs to run stores. The family-owned retailer confirmed it is proposing to close 33 of its 230 stores by January next year as a result. ‌ A further 71 stores are also at risk depending on talks with landlords in order to secure improved rental deals. The retailer, which employs around 5,500 people, was founded in 1948 under the Lewis and Chelsea Girl brand before being renamed in the 1980s. It has reportedly hired advisers from PwC in order to oversee the restructuring process. The proposals are set to go to a vote by the firm's creditors – companies or individuals owed money by the retailer – in August. The deal will result in fresh funding being invested into the business in order to help fuel its turnaround. Ben Lewis, chief executive of River Island, said: 'River Island is a much-loved retailer, with a decades-long history on the British high street. Article continues below 'However, the well-documented migration of shoppers from the high street to online has left the business with a large portfolio of stores that is no longer aligned to our customers' needs. The sharp rise in the cost of doing business over the last few years has only added to the financial burden. We have a clear strategy to transform the business to ensure its long-term viability. 'Recent improvements in our fashion offer and in-store shopping experience are already showing very positive results, but it is only with a restructuring plan that we will be able to see this strategy through and secure River Island's future as a profitable retail business. We regret any job losses as a result of store closures, and we will try to keep these to a minimum.' The retailer is among high street fashion chains to have been impacted by weaker consumer spending and competition from cheaper online rivals, such as Shein. River Island fell to a £33.2 million loss in 2023 after sales slid by 19%, according to its most recent set of accounts. ‌ In a letter submitted to the court and seen by Drapers, River Island has listed the 33 stores set to close and has divided the other stores into categories depending on how much it wants to cut their rent by - between 25% and 75%. 71 more stores are at risk if new deals aren't reached. The 33 planned River Island closures are: Article continues below

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