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Suggestion the Luce EV should be stripped of prancing horse logo shows strength of feeling from Ferrari fans For passionate enthusiasts, Ferraris are not merely cars but works of art. The emotion stirred by their classic red curves is, they say, akin to standing before a Michelangelo sculpture, while the sound of the engine revving evokes a sensation comparable to listening to the music of Giuseppe Verdi or Giacomo Puccini. Which is why the sight of the Italian carmaker’s first fully electric car, the Luce EV, unveiled this week , left many fans aghast. Continue reading...

The Italian marque has broken with the past with its four-door, €550,000 Luce and traditionalists are furious Ferrari is different from other carmakers, and so are its product launches. So revered is the company in its native Italy that among the first people to sit behind the wheel of its first electric vehicle were the country’s president, and the pope. Yet judging by the backlash from investors, some critics and – inevitably – a horde of online commenters, the sportscar manufacturer may need help from a higher power if it is to win over its traditional fanbase. The Luce (pronounced “loo-chey”, Italian for “light”) is priced for the super-wealthy, at €550,000 (£476,000), with an electric motor for each wheel and the ability to get from zero to 100km/h in 2.5 seconds. But the design, led by the former Apple executive Jony Ive, has proven controversial. It is certainly unlike any Ferrari has made before. Continue reading...

Department for Transport is understood to back reducing levy, which critics have called a ‘pavement tax’ Business live – latest updates Government officials considered cutting the VAT charged on electricity used at public EV chargers from 20% to 5% at the last budget, but the Treasury under chancellor Rachel Reeves rejected the proposal amid disagreement between departments. Officials in the Department for Transport encouraged electric car charge point operators to write to the Treasury explaining how they would respond to a VAT cut, according to three industry sources. The charger companies said that they would pass the tax cut on to consumers. Continue reading...

China is dominating the energy transition with astonishing result, while fossil fuel fascists in the US try to turn back the clock “Farewell,” the flag-waving Chinese children chanted to Donald Trump as he strolled along the red carpet back to Air Force One at the end of his summit with Xi Jinping in Beijing. The US leader claimed he was leaving with a cluster of “fantastic” trade deals to sell US oil, jets and soya beans to China. That has not been confirmed by his smiling host, but one thing was crystal clear from the two days of meetings: the global balance of power is shifting, from the declining petrostate in the west to the rising electrostate in the east. Continue reading...

Many European motoring manufacturers are in retreat with plants to off–load – while China’s industry is on the march Chinese carmaker Xpeng is on the hunt for a factory in Europe. Volkswagen is aiming to reduce the number of its factories. It seems like it should have been the perfect set-up for a deal. Yet there was one problem with the plant on offer, according to Elvis Cheng, Xpeng’s managing director of north-eastern Europe: “It’s a little bit, I would say, old.” Continue reading...

CEO admits talks with Chery as other European carmakers discuss plans with Chinese firms to share factory space Nissan’s chief executive has confirmed he would consider building cars for other manufacturers at the UK’s largest car factory in Sunderland, amid talks with China’s Chery. Ivan Espinosa said Nissan was “looking at options” for Sunderland and its 6,000 workers as the struggling Japanese carmaker on Wednesday reported steep losses for the year to March. Continue reading...