Tag Archives: vehicles

News

CEO of Renault demands new industrial policy in Europe

While Chinese car manufacturers are trying to conquer the European market and threaten the domestic industry, which is currently in crisis, the EU is trying to find a solution to stop them. The proposal was made by Luca de Meo, CEO of Renault and President of the European Automobile Manufacturers’ Association (ACEA), who called for a new industrial policy in Europe.

In September 2023, European Commission President Ursula von der Leyen announced that the EU will launch an investigation into the privileged position of electric vehicles produced in China due to subsidies. Some member states of the European Union are trying to independently protect domestic manufacturers, such as France, which announced that it was canceling subsidies on new electric cars produced in China. The biggest threat to French and other European manufacturers is not only Chinese companies like BYD, but also the world’s largest electric car manufacturer, Tesla.

Luca de Meo stated that Europe is facing major challenges and that the alienation and disorientation of the European automotive industry will lead to a structural trade deficit for Europe. He also warns that the phase-out of internal combustion engines, which is planned for 2035, could mean a decrease in the competitiveness of the European car industry. According to him, ICEs have been a protective barrier for Europeans for years, and now with the development of electric cars and the increased need for batteries, that protection is disappearing because the Chinese control 75 percent of global battery production.

Also, he expressed concern about the increase in car prices in the last two decades (+50%), as well as the average age of cars, which has increased from seven to 12 years. These and other reasons could be fatal for the automotive industry in Europe, if an appropriate decision is not made in time to protect domestic manufacturers and the domestic market.

Source: Reuters

News

Geely took over Polestar from Volvo

In 2017, Volvo jointly with the Chinese company Zhejiang Geely Holding Group founded Polestar, a brand of electric cars. Six years later, the Swedish manufacturer announced that it was selling its share to a Chinese company, as it failed to establish itself in the electric car segment.

Although Volvo will no longer fund Polestar, the two brands will continue to collaborate on development and research, production and after-sales services. At the same time, Thomas Ingenlath, the head of Polestar, expressed his enthusiasm for the idea of Geely becoming the new majority and direct shareholder of this young company. The decision had a positive reaction from Volvo brand investors. After that, Volvo shares rose 40 percent.

All models launched by Polestar are based on Volvo technology. An example is Polestar 2, the first battery electric vehicle and mass production Polestar vehicle in the Volvo Car Group, premiered in 2020. It is offered in combination with one or two electric motors. The base version is powered by a single electric motor with 224 hp (165 kW) and 243 lb-ft (330 Nm). It is equipped with a 64 kWh battery pack that enables a range of up to 440 kilometers (WLTP). The most powerful version is powered by two electric motors with 408 hp (300 kW) and 487 lb-ft (660 Nm). It is equipped with a 78 kWh battery pack that enables a range of up to 480 kilometers. It also has AWD.

When it comes to future models, the Polestar 3 entered production at the end of last year, the Polestar 4 crossover coupe will arrive in 2024, while the Polestar 5 luxury sedan is expected to arrive in 2025.

Source: Volvo

Auctions

1958 Ferrari 250 “Pontoon Fender” Testa Rossa is up for auction

The Testa Rossa was the most successful sports racing car in Ferrari’s illustrious history, securing four World Championships and four overall victories at the 24 Hours of Le Mans from 1958 to 1962. In 1957, Ferrari, in cooperation with Italian coachbuilder Sergio Scaglietti, began production of 19 special examples of the Ferrari 250 “Pontoon Fender” Testa Rossa. It is an extraordinary collector’s car, and one example of the 1958 Ferrari 250 “Pontoon Fender” Testa Rossa is up for auction.

The development of the Testa Rossa model was gradual, and after a lot of experimentation Ferrari decided on a 3.0-liter “Red Head” engine and a Scaglietti spider body also known as the “Pontoon Fender”. These examples have become among the most famous cars that Ferrari has ever built, and the desire of many collectors.

This example with chassis 0738 TR was ordered in 1958 by Jean-Louis Lacerda Soares of Sao Paolo through the Official Central and South American Ferrari Concessionaire Carlos Kauffman in Caracas. As a member of the Scuderia Lagartix team, he used the car in races, and in two years he achieved multiple victories and half-a-dozen podium finishes.

In 1961, the car was bought by Giorgio Moroni, who sent it to Italy, where a new 250 GTO-style body was created by Piero Drogo. After that, in 1965, Moroni sold the car to Claudio Klabin, who continued to use it in races. Until 2010, when it stopped being used in vantage races, the car changed several more owners.

In 2013, the car was sent for a full restoration where it was restored to its original body. The work was done by Ferrari Classiche, which issued its all-important Red Book, confirming that this is one of the few remaining examples that has retained both its original engine and gearbox. The restoration cost more than 650,000 euros.

Many collectors and car enthusiasts consider the Ferrari 250 “Pontoon Fender” Testa Rossa to be the ultimate Ferrari. This is an ideal and rare opportunity that collectors should not miss.

The auction will take place on February 21-23, 2024.

Source: RM Sotheby’s

Gallery:

1958 Ferrari 250 "Pontoon Fender" Testa Rossa is up for auction