Latest news with #Mory
Yahoo
10-04-2025
- Business
- Yahoo
Cross Bay Ferry between Tampa and St. Petersburg to end early
The Cross Bay Ferry's first season of year-round service is 'expected' to end early. HMS Ferries Inc., the vendor that provides ferry service between St. Petersburg and Tampa, has been declared to be in default of its agreement with Hillsborough County. John Muller, the county's facilities management and real estate services director, outlined the situation in an email to HMS on March 25. He wrote that the Boston-based company wanted to replace the current ferry with a slower one that would take almost two hours to complete each one-way trip across Tampa Bay — twice as long as the current transit time. According to the agreement in place since 2021, HMS must provide a high-speed ferry. Muller's letter put HMS on notice and gave the company until April 3 to find another vessel. Evan Mory, St. Petersburg's transportation and parking management director, told City Council members in a memo Tuesday that HMS did not meet that deadline. He wrote that Hillsborough's staff told him that they intend to bring a cancellation recommendation to that County Commission on April 16. 'However, it is assuredly expected that April 30th will be last day of ferry service this Spring,' Mory said. The Cross Bay Ferry is on its forth and final year of service under the current agreement, which was supposed to end on Sept. 30. Mory noted in a March 25 letter to City Council members that the city will save $102,000 with service ending early 'although it would be [preferable] to have service end in September,' he wrote. Pinellas County's transit authority wants to better integrate the Cross Bay Ferry by buying its own ferry, but Hillsborough County is hesitant to turn over a nearly $5 million federal grant to help make that happen. Mory told council members that the city will be working with the Pinellas Suncoast Transit Authority and other government partners to identify a new ferry program that could be restarted as early as this fall, depending on the solicitation process and the availability of potential vendors. This is a developing story. Check back for updates.
South China Morning Post
20-02-2025
- Automotive
- South China Morning Post
Double down or get out: the options for foreign carmakers in China amid shrinking share
Foreign carmakers are likely to see their market share in China shrink further this year as the brutal price war is expected to get worse, according to analysts. Advertisement Overseas companies' share of the mainland's electric vehicle (EV) market could drop to 32 to 33 per cent this year from about 35 per cent last year, Valentin Mory, an analyst at French investment bank Natixis, said during a webinar on Wednesday. 'The price war is only getting fiercer and is unlikely to falter in 2025,' said Mory. 'What we've seen in 2024 is only the beginning of something that is expected to be much bigger going forward – survival of the fittest.' With demand for big-ticket purchases faltering because of China's slowing economic growth, buyers are opting for cheaper and better EVs from domestic brands, said Gary Ng, a senior economist at Natixis. French investment bank Natixis expects foreign carmakers' fortunes to shrink in China. Photo: AFP The market share of domestic companies is expected to rise to 70 per cent this year from 65 per cent last year, he added. Advertisement Amid slowing sales, carmakers on the mainland resorted to aggressive discounts at the end of last year, continuing a two-year battle. The price war was triggered by BYD, the world's largest EV assembler, after it cut the price of its Sealion 05 hybrid SUV by 11.5 per cent. Tesla and others soon followed suit.
South China Morning Post
19-02-2025
- Automotive
- South China Morning Post
Why foreign carmakers have little room to manoeuvre in China
Foreign carmakers are likely to see their market share in China shrink further this year as the brutal price war is expected to get worse, according to analysts. Overseas companies' share of the mainland's electric vehicle (EV) market could drop to 32 to 33 per cent this year from about 35 per cent last year, Valentin Mory, an analyst at French investment bank Natixis, said during a webinar on Wednesday. 'The price war is only getting fiercer and is unlikely to falter in 2025,' said Mory. 'What we've seen in 2024 is only the beginning of something that is expected to be much bigger going forward – survival of the fittest.' With demand for big-ticket purchases faltering because of China's slowing economic growth, buyers are opting for cheaper and better EVs from domestic brands, said Gary Ng, a senior economist at Natixis. French investment bank Natixis expects foreign carmakers' fortunes to shrink in China. Photo: AFP The market share of domestic companies is expected to rise to 70 per cent this year from 65 per cent last year, he added. Amid slowing sales, carmakers on the mainland resorted to aggressive discounts at the end of last year, continuing a two-year battle. The price war was triggered by BYD, the world's largest EV assembler, after it cut the price of its Sealion 05 hybrid SUV by 11.5 per cent. Tesla and others soon followed suit.
