Latest news with #JustAuto
Yahoo
3 days ago
- Automotive
- Yahoo
UK sees 27% YoY growth in EV chargepoints
The UK government has announced that the country's electric vehicle (EV) infrastructure has received a significant boost with the addition of 17,370 new chargepoints over the past year, marking a 27% increase in the network. Future of Roads Minister Lilian Greenwood confirmed this rapid expansion, particularly noting advancements in the north-east, East of England, and the West Midlands, ensuring drivers have access to public chargepoints within a short drive. The surge in chargepoint installations comes alongside the government's announcement of discounts up to £3,750 for new EVs. This incentive is coupled with a £25m investment to facilitate home charging, potentially saving drivers up to £1,500 annually when they switch to electric. The discount scheme is now open to manufacturers and will be available until the 2028 to 2029 financial year. The UK government's commitment to EV adoption includes a £4.5bn investment to reduce the costs and simplify the ownership of EVs. This investment also aims to support British car manufacturers, generate jobs, and drive investment as part of the 'Plan for Change'. Future of Roads Minister, Lilian Greenwood, said: 'Just last week, we announced record discounts to help make EV ownership a reality for thousands more people, alongside making it easier to charge at home so more drivers can run their EV for as little as 2p a mile – that's London to Birmingham for £2.50. 'Today's chargepoint figures show that alongside lowering upfront costs, we're also making fantastic progress towards expanding our charging network across the UK.' The strategy aligns with the government's efforts to support drivers, which include investing £1.6bn in road maintenance and extending the 5p fuel duty freeze until spring 2026, saving motorists an average of £50 to £60 per year. Earlier in the month, the DRIVE35 programme was launched by the government, which is a £2.5bn ($3.37bn) initiative designed to accelerate the UK automotive sector's transition to zero-emission vehicle production. "UK sees 27% YoY growth in EV chargepoints" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Automotive
- Yahoo
Tesla's auto revenue drops in Q2 2025
Tesla has reported a 12% year-on-year (YoY) decrease in total revenue for the second quarter (Q2) of 2025, with figures falling to $22.49bn from $25.5bn in the same period last year. The company's Q2 2025 financial results reflect vehicle delivery decline and lower regulatory credit revenue, among other factors. The company sold 384,122 cars in Q2, down 13.5% from the sales total a year ago. Total automotive revenues saw a 16% YoY decrease for a second straight quarter to $16.6bn in Q2 2025. Net income attributable to common stockholders (GAAP) for the quarter also fell by 16% to $1.17bn, while non-GAAP net income saw a 23% decline to $1.39bn. The company's total gross profit dropped by 15% YoY to $3.87bn. Net cash from operating activities decreased by 30% to $2.54bn, and adjusted EBITDA was down 7% at $3.40bn for Q2 2025. Operating expenses also experienced a slight decrease of 1% to $2.95bn. Income from operations plummeted by 42% to $923m, mainly affected by lower regulatory credit revenue, increased operating expenses due to AI and research and development (R&D) projects, and vehicle delivery decline. Tesla has noted in the update letter that its lithium refining and cathode production plants are set to start production in 2025, aiming to onshore the production of critical battery materials in the US. The company is also preparing to start domestic production of its first LFP cells for energy storage products later in 2025. Tesla emphasises a 'capex-efficient' approach to growing vehicle volumes, utilising current production capacity before expanding. The anticipated launch of new vehicles in 2025, including 'a more affordable model' in the first half of the year, remains on schedule. Tesla's Cybercab, a Robotaxi product, is expected to enter volume production in 2026. The company sold 384,122 cars in Q2, down 13.5% from the sales total a year ago. In the first quarter (Q1) revenues 2025, which ended on 31 March, Tesla reported a 20% decline. "Tesla's auto revenue drops in Q2 2025" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Automotive
- Yahoo
Hyundai's Q2 earnings drop 16% despite strong revenues
Hyundai Motor Company reported a 7.3% year-on-year rise in global revenues to KRW 48,287 billion (U$ 35 billion) in the second quarter of 2025, reflecting a slight increase in global vehicle sales to 1,066,000 units, an improved product mix, and favourable foreign exchange rates. Sales of electrified vehicles rose by 36% to 262,000 units during the quarter, including a 34% rise in battery electric vehicle (BEV) sales to 79,000 units, while SUV sales rose by 4.4% to 645,000 units. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You In the first half of 2025, revenues rose by over 8% to KRW 92,695 billion, while global vehicle sales were just slightly higher at 2,067,000 units, including 474,000 electrified vehicles. Operating profit dropped by 15.8% to KRW 3,602 billion in the second quarter of 2025, resulting in a decline in the company's operating margin to 7.5% from 9.5% a year earlier. The automaker said it took a huge KRW 828 billion hit from the US import tariff hikes, while sales incentives also had a significant impact on the company's earnings. This was offset in part by favourable exchange rates. Net income for the quarter plunged by 22.1% to KRW 3,250 billion. Hyundai Motor Company's chief financial officer, Lee Seung-jo, during the company's earnings call confirmed that the automaker incurred a 'minus effect of KRW 828.5 billion' as a result of the US import tariffs. Mr Lee further stated: 'Considering the current tariff policies, in the short term we will implement flexible incentive and price measures, cut the cost of raw materials and processes through efficient production, and push for contingency plans within our investment budget. In the medium and long term, we will closely review options to expand production in the US and respond to market requirements.' "Hyundai's Q2 earnings drop 16% despite strong revenues" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
23-07-2025
- Automotive
- Yahoo
Using AI to build battery value chains is vital for West – Monolith [includes podcast]
China has amassed a considerable global competitive lead in developing automotive battery tech and associated supply chains, according to an executive from AI engineering specialist Monolith, speaking exclusively to Just Auto. London-based AI start-up Monolith says it is doubling down on its mission to reinvent battery development, presenting its ongoing work in developing its next generation of AI technology for battery R&D. At this year's Battery Show Europe, the company showcased its agentic battery expert – an AI tool being developed to act as a virtual scientific co-pilot for engineers tackling the toughest challenges in battery R&D. Speaking to Frankie Youd in the Just Auto podcast series, Marius Koestler - VP AI for Batteries at Monolith – described the challenges facing the global development of automotive batteries as an increasingly political-technical discussion for governments around the world to face up to. This embedded content is not available in your region. 'Beijing is bringing all the forces together, strategically,' he said. 'It has gone with LFP [Lithium Iron Phosphate] technology which is winning big-time, while Europe, the US, Korea and Japan are still mainly on NMC [Nickel Manganese Cobalt] tech.' However, Koestler also said that there is a huge opportunity to utilise AI solutions to speed up battery tech development times. 'China has amassed a huge supply chain presence when you look at high-growth companies like CATL, but it's a highly dynamic situation. AI solutions are becoming highly relevant to this space and how the world's major economies and industries will look in the future.' This embedded content is not available in your region. "Using AI to build battery value chains is vital for West – Monolith [includes podcast]" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
22-07-2025
- Automotive
- Yahoo
Registration is now open for GlobalData's Global Automotive Outlook Conference 2025
GlobalData are delighted to open registration for the Global Automotive Outlook Conference, taking place on October 21, 2025 at the Gem Theatre, in Detroit, Michigan. Join GlobalData's senior industry analysts for a day of expert insight, exclusive commentary, and critical analysis on the key forces shaping the automotive sector. What to Expect: Live commentary from GlobalData analysts on the latest market developments Analysis of emerging trends, market outlooks, and shifts in global supply chains Insight into EV, autonomous tech, tariffs, sustainability challenges, and more! Opportunities to network with automotive peers and decision makers Whether you're navigating the EV transition, responding to global policy shifts, or simply trying to stay ahead of market disruption, this event is designed to equip you with the knowledge and context you need. This is a free-to-attend, in-person event. Spaces are limited, so early registration is advised. Our conferences are exclusive events for GlobalData customers, but we don't want you to miss out. Contact us today and quote the conference title to find out how you can grab your place. "Registration is now open for GlobalData's Global Automotive Outlook Conference 2025" was originally created and published by Just Auto, a GlobalData owned brand.
