6:50 am, March 19, 2025
China’s BYD launches EV charging system it says works nearly as fast as fill up
China’s energy and auto giant BYD has announced an ultra fast EV charging system that it says is nearly as quick as a fill up at the pumps.
BYD, China’s largest EV maker, said on Monday that its flash-chargers can provide a full charge for its latest EVs within five to eight minutes, similar to the amount of time needed to fill a fuel tank.
It plans to build more than 4,000 of the new charging stations across China.
Compulsory liquidations hit decade-long high as firms face rising costs
The number of companies going into compulsory liquidation hit its highest point in more than a decade last month, according to official data.
Some 393 companies were forced to wind up in February across England and Wales – the highest monthly number since September 2014, the Insolvency Service said.
Compulsory liquidation is when a firm is ordered to shutter by a court because it is unable to pay its debts.
Gordon Murray Automotive to be the forefront at this year’s Goodwood Festival of Speed
Gordon Murray Automotive has announced that it will be the centre stage at the famous Goodwood Festival of Speed this year.
It comes as the company’s founder, Gordon Murray, celebrates a 60-year career of design and engineering.
He is the man responsible for creating some of the world’s most iconic supercars and race cars such as the McLaren F1.
FTSE 100 gains as US markets slump ahead of interest rate decisions
The FTSE 100 rose on Tuesday while US stocks slipped, as markets looked ahead to interest rate calls from both countries’ central banks later in the week.
London’s blue-chip index rose 25 points to finish the day at 8,705, a 0.3% rise.
Meanwhile Wall Street fell back after strong gains at the start of the week, with the S&P 500 down 1.2% and the Dow Jones down 0.9% as UK markets were closing. In Europe Germany’s Dax index rose 1% and France’s Cac 40 gained 0.5%.
Tuesday on Car Dealer
‘It’s going to cost us £25,000 a month’: The rising price of being an independent car dealer
Rising business costs, including PAYE and National Minimum Wage hikes, are severely impacting dealer profits. At Car Dealer Live, experts warned that increased competition for used stock is adding pressure, forcing some retailers to cut advertising expenses to stay profitable.
Close Brothers posts £100m losses as lender prepares to axe jobs amid car finance chaos
Close Brothers’ share price has slumped 14% after reporting a £103.8m pre-tax loss for the half-year. Impacted by the car finance crisis, the firm expects related costs to reach £22m this year and is cutting £25m in expenses, including job losses and office reductions.
Police launch investigation as cars vandalised in yet anther Tesla showroom protest
Police are investigating after vandals damaged 20 vehicles at Tesla’s Belfast showroom amid ongoing protests. Demonstrators have already targeted Tesla sites in London and St Albans, with calls for boycotts growing amid criticism of Elon Musk’s political activities and alleged far-right associations.
Car dealer Arnold Clark launches ultra-rapid charging network following £30m investment
Arnold Clark has launched its own ultra-rapid EV charging network, investing £30m in over 240 chargers across England and Scotland. The ‘Arnold Clark Charge’ network aims for 500 chargers at 100+ locations, with bookable slots and a 55p/kWh rate to boost EV adoption.
Government defends major welfare reforms but charities condemn ‘cruel cuts’
Benefit reforms branded the biggest shake-up to the welfare system in a generation will create a ‘pro-work system’, the Government has said.
But charities have argued the proposed changes are ‘immoral and devastating’ for those they represent and could “push more disabled people into poverty’.
Work and Pensions Secretary Liz Kendall said the current social security system is ‘failing the very people it is supposed to help and holding our country back’, while Prime Minister Sir Keir Starmer said it would be ‘morally bankrupt’ to leave people ‘trapped out of work and abandoned by the system’.
No 10 welcomes Trump’s ceasefire progress following call with Putin
Downing Street has welcomed ‘ghe progress President Trump has made towards a ceasefire’ following his call with Vladimir Putin, but insisted negotiations must lead to a ‘just and lasting peace for Ukraine’.
A path towards peace in Ukraine will begin with a ceasefire on energy infrastructure, the US president and his Russian counterpart agreed during Tuesday’s phone call, before moves to end fighting in the Black Sea take place, and then a sustained ceasefire.
Talks to iron out agreement on the 30-day ceasefire will take place ‘immediately’ in the Middle East, according to the US government.
Weather outlook…
The UK will today experience mild and dry conditions with partly sunny skies.
Temperatures are expected to range from highs of 10°C to 17°C and lows between -2°C and 7°C. Most regions will remain dry, with minimal chances of precipitation.
Overall, anticipate a pleasant day with bright spells and light winds across the country.
