Chinese holding Geely bought back a 7.6% stake in a British company Aston Martin, thus becoming the fourth largest shareholder. Larger stakes are owned by Lawrence Stroll’s Yew Tree Consortium (18.3%), Saudi Arabia’s Sovereign Fund (16.7%) and Mercedes-Benz Concern (9.7%). Moreover, negotiations on the purchase of shares have been going on since 2020, but the British have constantly rejected Geely’s proposals. Aston Martin has become the third British automaker in Geely’s portfolio: it also owns a controlling stake in Lotus (sports cars) and the entire LEVC company (taxi cars and vans).
A company BYD enters the European market on a large scale. Since 2021, sales of BYD electric vehicles have been conducted in Norway, about two thousand vehicles have already been sold, and now the expansion of the geography has been announced. Until the end of this year, BYD will enter the markets of Germany and France, and in 2023 it will begin sales in other EU countries. The range will consist of three electric models that will be shown to the European public at the upcoming Paris Motor Show: the BYD Han sedan and the BYD Atto 3 and BYD Tang crossovers. The prices in the picture are valid for Germany.
American firm Lordstown Motors announced the start of small-scale production of its first model, the Lordstwon Endurance electric pickup truck. True, so far only two commercial vehicles have rolled off the assembly line. The Ohio plant is a former GM factory that was purchased from GM in 2019, but was subsequently resold to Taiwanese company Foxconn. According to the plan, 50 Lordstown electric pickups will be delivered to customers by the end of this year, and another 450 units in the first half of 2023.
concern plant Stellar in the Polish city of Tychy celebrated the production of 12.5 million cars. The Fiat 500 Dolcevita hatchback, which will go to Belgium, has become a jubilee. In addition to the “five hundred” and its varieties (including under the Abarth brand), only Lancia Ypsilon hatchbacks are now produced here. However, more than 200 million dollars have already been invested in the reconstruction of the enterprise, and in the near future the production of new generation machines will begin here. The first-born will be the Jeep Avenger crossover in hybrid and electric versions.
Government India postponed for one year the introduction of a mandatory requirement that all new cars sold in the country must have at least six airbags. This law was approved at the beginning of this year and was supposed to come into force on October 1. Now its introduction has been postponed until October 1, 2023 – according to the official version, due to a lack of capacity for the production of airbags. Last year, India became the world’s fourth largest market in terms of car sales, with 3.1 million units.
And in Russia, an indulgence has been revised, allowing the import of cars without an emergency warning system into the country. ERA-GLONASS. This relief was introduced by a decree of the government of the Russian Federation in July this year: until February 1, 2023, cars without an Era can be imported and registered. However, as reported by JSC GLONASS, from October 1, all cars imported into Russia by legal entities or individual entrepreneurs must be equipped with an emergency call system. For individuals, the exemption continues to apply.
Also from October 1, a small package of changes to the rules comes into force. OSAGO. Now, in order to terminate the policy in the event of a complete loss of the car or its theft, you must provide a certificate of deregistration in connection with disposal. How the Central Bank understands recycling in the event of theft, alas, is not clear. The policyholder is now obliged to notify the insurer in the event of a change in ownership of the car, while he also has the right to terminate the contract. One legal conflict has been eliminated: the need to pay without taking into account depreciation when reimbursed by repairs, and not by money, is prescribed not only in the Law, but also in the OSAGO Rules.
Also today we talked about new crossovers Exeed Yaoguang and Leading Ideal L7/L8powerful hybrid Lynk & Co 09 EM-P and updated electric car Aion Y Plus.