Aramco to acquire 10% equity interest in HORSE Powertrain Limited, the new global powertrain solutions company established by Renault Group and Geely

Industry News

Aramco has signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain Limited (“HORSE”) valuing the target at €7.4 billion enterprise value. Renault Group and Geely each retain 45% equity stakes. The investment by Aramco, will support the growth of HORSE Powertrain limited and contribute to the development of competitive powertrains and synthetic fuel solutions. HORSE Powertrain Limited is expected to have an annual production of five million powertrain units, encompassing a complete portfolio of advanced powertrain technologies for partners around the world. DHAHRAN, Saudi Arabia, Hangzhou, Hong Kong SAR, China, Boulogne-Billancourt, France and London, United Kingdom, June 28, 2024 – Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain Limited, the new global powertrain solutions company, alongside Renault Group, Zhejiang Geely Holding Group and Geely Automobile Holdings Limited (“Geely”). HORSE Powertrain Limited was formed on May 31, 2024, by Renault Group and Geely and is incorporated and headquartered in London, UK. Aramco will acquire a 10% equity interest in HORSE Powertrain Limited in equal parts from Renault Group and Geely, which will each retain 45% equity stakes. The price to be paid by Aramco at closing, which is subject to customary closing conditions including the receipt of regulatory approvals, will be based on a €7.4 billion enterprise valuation. This investment will enhance Aramco’s contribution to the global energy transition through the development and commercialization of more sustainable mobility solutions. The agreements also include collaboration arrangements for Aramco and Valvoline on technologies, fuels, and lubricants to collectively improve the performance of HORSE Powertrain Limited internal combustion engines (ICE). Aramco, Renault Group, and Geely share the view that successful decarbonization of the automotive industry will require a combination of various technologies — including highly efficient ICE, transmissions and hybrid powertrains, alternative fuels such as lower-carbon synthetic fuels and hydrogen, as well as vehicle electrification — to support an orderly energy and mobility transition around the world. HORSE Powertrain Limited’s mission is to lead the race towards ultra-low emission next generation technologies, and Aramco’s unique capabilities, including a global network of R&D centers where research on synthetic fuels, hydrogen, and ICE optimization is conducted, will facilitate development of long-term sustainable and accessible decarbonized solutions. Ahmad O. Khowaiter, Aramco Executive Vice President of Technology & Innovation, said: “Aramco’s investment is expected to directly contribute to the development and deployment of affordable, efficient, and lower-carbon emission internal combustion engines globally. With Geely and Renault, we plan to leverage our collective expertise and resources to support ground-breaking advances in both engine and fuel technologies. With a strong emphasis on innovation, our goal is to provide solutions that can reduce transport emissions while meeting the needs of both vehicle manufacturers and motorists. In securing long-term partnership between Valvoline and HORSE Powertrain Limited, Renault Group, and Geely in connection with this investment, we are also demonstrating Aramco’s ability to both create and capture value at the global level.” Luca de Meo, Renault Group CEO, said: “Decarbonizing the automotive industry won’t be a solo play. It requires the best players to join forces to open new paths and come up with innovative solutions. That is what’s happening today as we welcome Aramco as a strategic partner in HORSE Powertrain Limited. A dream team is born to reinvent the future of ICE and hybrid technologies.” Daniel Li, Geely Holding CEO, said: “To achieve net zero emissions will require global synergies, multi-faceted technological solutions, and the sharing of expertise. With Aramco’s support and expertise in fuel technologies, HORSE Powertrain Limited further cements its role as a leader in pioneering low-carbon and carbon-free fuel technology solutions such as methanol and hydrogen.” Matias Giannini, HORSE Powertrain Limited CEO, said: “I am delighted that Aramco has joined HORSE Powertrain Limited. Their expertise in synthetic fuels and hydrogen makes them a great partner for us to deliver cutting-edge, low-emission powertrain solutions, driving our industry’s decarbonisation forward. Together, we will set new benchmarks for innovation in the automotive sector.” HORSE Powertrain Limited factsheet: 17 global plants 9 industrial customers in 130 countries 5 R&D centers c. 19,000 employees Strategic footprint focused on China, Europe, and Latin America Expected c. 5 million powertrain units per year All types of powertrain solutions covered – full hybrids and long-range plug-in hybrids as well as internal combustion engines that use alternative fuels such as ethanol, methanol, LPG, CNG, hydrogen, etc. ARAMCOMEDIA RELATIONS media.inquiries@aramco.com @aramco RENAULT GROUPPRESS RELATIONS Rie Yamane+33 6 03 16 35 20rie.yamane@renault.com François Rouget+33 6 23 68 07 88francois.rouget@renault.com RENAULT GROUPINVESTOR RELATIONS Philippine de Schonen+33 6 13 45 68 39philippine.de-schonen@renault.com GEELY HOLDING GROUPPRESS CONTACT Elaine Lin+86 135 1581 7888Jing.lin1@geely.com About AramcoAramco is a global integrated energy and chemicals company. We are driven by our core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com About Renault GroupRenault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors and its unique expertise in electrification, Renault Group comprises four complementary brands – Renault, Dacia, Alpine and Mobilize – offering sustainable and innovative mobility solutions to its customers. Established in more than 130 countries, the Group has sold more than 2.235 million vehicles in 2023. It employs nearly 106,000 people who embody its purpose every day, so that mobility brings people closer. Ready to pursue challenges both on the road and in competition, Renault Group is committed to an ambitious transformation that will generate value. This is centered on the development of new technologies and services and a new range of even more competitive, balanced, and electrified vehicles. In line with environmental challenges, the…

Development of the Audi Power Unit for Formula 1: “significant milestones and goals achieved”

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Adam Baker, CEO of Audi Formula Racing GmbH, and CTO Stefan Dreyer in a double interview Complete F1 Power Unit runs on the test bench and has already covered simulated race distances Development at the Neuburg site with 22 state-of-the-art test benches Neuburg a. d. Donau/Hinwil, June 28, 2024 – Work on the Power Unit for Audi’s Formula 1 entry has been underway for more than two years. The specially created Audi Formula Racing GmbH (AFR) in Neuburg a. d. Donau is responsible for the development of the F1 hybrid drive (“Power Unit”) and has successfully completed the set-up phase. Together with the Hinwil facility, the team from Neuburg will form the future factory team with which Audi will compete in the top class in 2026. The Audi F1 Power Unit “Made in Germany” is making great progress behind closed doors. AFR CEO Adam Baker and AFR CTO Stefan Dreyer provide an insight into the current status. Work on the development of the Audi Power Unit for Formula 1 has been underway at the Neuburg facility since spring 2022. What has been achieved so far?Baker: After just two years, our Power Unit, consisting of a combustion engine, electric motor, battery and control electronics, is running dynamically on the test bench. Successfully marrying the various components into a single unit is the result of hard work and great teamwork. The Audi Power Unit has already covered simulated race distances on the test bench. We gained a lot of testing time with the individual components in 2023 and were able to incorporate the experience gained into the next construction stages in parallel. Significant milestones and goals have been achieved, which gives the entire team a good feeling. Dreyer: We implemented a very ambitious modernization and expansion of our test facility. Today, we have 22 state-of-the-art test benches at the site. Our new development tools are state-of-the-art and have enabled us to achieve a steep learning curve. By testing on the test bench under simulated racing conditions we gain important insights in this phase of the project. After the successful race distances with the Power Unit we will soon be doing the same with the entire drive system, which means the combination of Power Unit and transmission. At the same time, we are going full throttle with performance development in order to achieve the goals we have set ourselves. On which tracks has the Audi Power Unit already been driven? Dreyer: We run the Power Unit on the test bench with different layouts from the current F1 calendar, depending on the purpose of the test. For example, Las Vegas is interesting for our development team in terms of overall energy management. Several alternating fast and slow corners and almost two kilometres of full throttle driving on the Las Vegas Strip provide the perfect development environment for fine-tuning the combustion engine and the ERS (Energy Recovery System) components. Baker: Hearing the Audi Power Unit being simulated today on tracks like Spielberg, Singapore or Las Vegas, not only gives everyone involved goosebumps, but also gives us the feeling that we are a big step closer to our first race in 2026. How has the development department set itself up for this challenging project? Dreyer: It was particularly important to establish a broad base in all areas, to create a good foundation for the development of the individual components – combustion engine, electric motor, battery, control electronics, software – to coordinate them with each other at an early stage. Our experience from previous motorsport projects with high-voltage technology, Le Mans, Formula E, but also from the current Dakar project, has helped us a lot. We have already proven in the past that we can develop conventional, hybridized and purely electric drivetrains. Nevertheless, the challenge in Formula 1 is a completely different one in terms of cutting-edge technology and competition. This also applies to our partners and suppliers – we are experiencing a very strong commitment from all sides. Even though the construction in Neuburg has been completed, is the intensity still increasing? Baker: There have been special milestones almost every month since the start of the project in spring 2022, for example the start of construction for our infrastructure expansion, the start of testing for the single-cylinder, the first test bench run of the electric motor and the V6 engine and the first race distances with the complete Power Unit. The fact that our entire team can fully concentrate on the development of the Power Unit for 2026 is an advantage for Audi. The remaining time until 2026 is all about achieving our development goals in terms of maximum overall vehicle performance with full focus. It will remain exciting until the first race – and after that, of course, too. Dreyer: Intensity is a good keyword for our performance development. The regulations allow a total of three test benches for single-cylinder tests, for example, which are not limited by the FIA in terms of operating times. We use this maximum number at the facility as intensively as possible for the development of combustion processes for internal combustion engines. So far, we have achieved all the targets we set ourselves for performance and efficiency in this phase. In addition, our fuel development has been running since 2022 with a strong partner who has many years of experience in Formula 1. This is a really decisive factor for our project, as the new sustainable fuel for 2026 will have even greater competitive relevance. A cost cap has also been in place for the development of the Power Unit since this year. How can we imagine day-to-day business under the FIA’s cost cap? Baker: Like all other Formula 1 teams and Power Unit manufacturers, we were faced with the challenge of setting ourselves up accordingly. It’s all about cost-cap efficiency and cost-cap conformity. One advantage was that we were able to start on a blank sheet of paper, so to speak, creating our own company, Audi Formula Racing GmbH, for…

10 to 80 per cent charge in under five minutes – Nyobolt EV sportscar prototype takes ultra-fast charging out of the lab and onto the road

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Nyobolt’s ultra-fast charging batteries that eliminate slow and inconvenient recharge stops, move from the lab to the track Just 12 months after revealing the concept, a driveable Nyobolt EV prototype, engineered together with CALLUM, will advance testing of the technology in the real world, enabling OEMs to experience Nyobolt’s ultra-fast charging technology first hand Initial testing of the Nyobolt EV using a 350kW DC charger has shown its batteries can charge from 10 to 80 per cent in under five minutes, twice the speed of the fastest-charging vehicles on the road without the degradation typically associated with lithium-ion batteries Independent testing of Nyobolt’s technology by a leading global OEM confirms that Nyobolt’s longer lasting and more sustainable batteries can achieve over 4,000 fast charge cycles, or 600,000 miles, maintaining over 80 per cent battery capacity retention Nyobolt is in talks with eight OEMs about using its technology in high performance EVs Download high resolution images and video here 28 June 2024 – Nyobolt is taking its high-power density, fast-charging battery technology from the lab into the real world by revealing the first running Nyobolt EV prototype. Designed and engineered with CALLUM, the Nyobolt EV will be used to both validate the company’s battery performance in a high-performance environment, as well as allow car makers to witness an elevated customer experience where inconvenient charging downtime is thing of the past. 10-80 per cent state of charge achieved just under five minutesFounded in 2019, Cambridge-based Nyobolt has leveraged its next-generation patented carbon and metal oxide anode materials, innovative low impedance cell design, integrated power electronics and software controls to create power dense battery and charging systems. These support the electrification of high-uptime industrial and automotive applications such as heavy-duty off-highway trucks, EVs, robotics and consumer devices that demand high power and quick recharge cycles. Initial in-vehicle testing this month using powerful 350kW (800V) DC fast chargers has already confirmed that Nyobolt EV’s 50Ah 35kWh battery can be charged from 10 per cent to 80 per cent in four minutes 37 seconds – with a full 100 per cent charge enabling the prototype to achieve a range of 155 WLTP miles. That is twice the speed of most of the fastest charging vehicles today. Furthermore, as the first four minutes are at a constant current of 500A, this would provide 120 miles of range. Longer lasting performance batteries offer over 600,000-miles lifeNyobolt’s technology also solves the levels of degradation that typically come with supercharging lithium-ion batteries. Nyobolt’s 24.5Ah cells have already successfully completed over 4,000 full DoD (Depth of Discharge) fast charge cycles, equating to over 600,000 miles if used in the Nyobolt EV pack, while still retaining over 80 per cent battery capacity. This is many multiples higher than the warranties of much larger EV batteries on the road today. Independent OEM testing has confirmed its 2.6Ah cells can achieve over 4,400 cycles with a 12C charge and 1C discharge at 23°C. Crucially, the cell internal resistance rises by only 50 per cent after 4,400 five-minute charge cycles. This is lower than the industry accepted end of life values for EV cells, which is typically twice the initial value. “Despite some OEMs showing fast charge times in the region of 15 minutes, a closer inspection reveals the charge is usually across a limited SOC region specifically chosen to limit the amount of life taken out of the cell; for instance, between 20-80 per cent,” says Nyobolt’s co-founder and CEO, Dr Sai Shivareddy. “Typically, the charge profile will only hold these peak charge levels for a short amount of the charge time. Nyobolt’s low impedance cells ensure we can offer sustainability, stretching out the battery’s usable life for up to 600,000 miles in the case of our technology demonstrator.” Enabling lighter EVs for the enthusiastThe 35kWh battery pack in the Nyobolt EV prototype not only adds miles faster but the compact battery pack size benefits car makers and motorists, enabling energy efficient electric vehicles that are cheaper to buy and run, and crucially use fewer resources to manufacture. It’s no accident that the Nyobolt EV is a sports car weighing just 1,250kg; it underlines that Nyobolt can also enable the automotive industry to return lighter, better handling sports cars. “We can enable OEMs to build excitement back into the segment, which is literally weighed down by legacy battery technology currently,” says Shane Davies, Nyobolt’s director of vehicle battery systems. “Our Nyobolt EV demonstrates the efficiency gains facilitated by our fast-charging, longer-life battery technology, enabling capacity to be right-sized while still delivering the required performance,” adds Davies. “Nyobolt is removing the obstacle of slow and inconvenient charging, making electrification appealing and accessible to those who don’t have the time for lengthy charging times or space for a home charger.” Scalable battery production already plannedWhilst the priority use for this Nyobolt EV is showcasing and testing the battery technology, CALLUM’s team has engineered it so that low volume production – for road or track use – is possible. Nyobolt’s battery assembly plans are more advanced and could be in production at low volume within a year, ramping to 1,000 packs in 2025. Nyobolt’s flexible manufacturing model enables volumes of up to two million cells per year. Nyobolt’s battery will also comply with the EU’s Battery Regulation requirements once in production. Bringing the benefits to existing EVsThe Nyobolt EV’s architecture also highlights how it could be retrofitted to existing EV platforms, bringing a step change in charge time and battery cycling life. The Nyobolt EV’s battery modules are cooled via cold plates with a water/glycol mix. The battery circuit uses an AC compressor and condenser as well as a battery chiller compatible with other performance vehicles, resulting in a near standard module and battery pack. The limited heat generation – no more than 60°C during a fast charge or a performance drive – is influenced in the main by the ultra-low impedance cell chemistry. Unique battery chemistry developed and refined in the UKNyobolt’s technology builds on…

Production of the new CUPRA Formentor and CUPRA Leon begins in Martorell as the next step in the factory’s historic transformation

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The new CUPRA Formentor and CUPRA Leon are the latest representations of CUPRA’s design obsession and a new milestone for the company SEAT S.A. is investing more than 3 billion euros in the electrification of Martorell, and the production process of both models will benefit from this transformation Martorell is currently integrating innovative technologies and digitalisation tools, helping the company to become more agile, sustainable and profitable The factory is undergoing the biggest transformation of its history towards intelligent and connected production Martorell, 27-06-2024 – CUPRA continues to take its range to new levels as it starts the production of the new CUPRA Formentor and CUPRA Leon, fearlessly redesigned and enhanced models embodying the brand’s design obsession. The first units will soon be ready to take the streets, with deliveries of both cars starting in the third quarter of this year. Created to represent the brand’s distinctive aesthetic values, the models’ production marks a new era for CUPRA as a design-driven brand. “The new CUPRA Formentor and CUPRA Leon are key models for the future of our Martorell plant and will spearhead the expansion of the brand into global markets”, said Wayne Griffiths, CEO of CUPRA. “We are investing more than 3 billion euros in the electrification of Martorell, and the new CUPRA Formentor and CUPRA Leon will be among the first models to benefit from this unprecedented investment in the future of our company,” he added. Both vehicles have been redesigned for the new generation of drivers, incorporating the DNA of CUPRA’s bold design language, and setting the stage for the next chapter in their success story. Available as plug-in hybrid, offering more than 100km of all-electric range, or with new, high-performance petrol engines, the CUPRA Formentor, the brand’s best-seller, was the first model designed and developed exclusively by CUPRA and has consistently been topping sale charts with more than 347,000 units produced to date. With the CUPRA Leon as a major driving force in CUPRA’s success, the brand has expanded its footprint around the world with more than 600,000 units delivered since the brand’s launch in 2018. Martorell: A driver of growth and developmentThe CUPRA Formentor and CUPRA Leon have been designed and developed at Martorell. The start of production of both models represents a further step in the ongoing transformation of the facilities. The production line of the two models has an impact on more than 4,000 jobs, one third of the approximately 12,000 employees currently at the production facilities. “We are working to transform and enhance our factory, integrating the most advanced technologies in its manufacturing and structural processes”, said Markus Haupt, Executive Vice-President for Production and Logistics at CUPRA. “Martorell is the third largest factory in terms of production volume of the Volkswagen Group in Europe, and we will keep growing with new models, but also through the implementation of smart technology and artificial intelligence,” he added. Inaugurated in 1993, SEAT S.A.’s factory in Martorell has been central in the company’s success. The installations have a surface of 2.8 million m² (400 football pitches) and have produced more than 12 million vehicles of 45 different models that have been exported to more than 70 countries around the world. 2023 was a key year for Martorell, which not only celebrated its 30-year anniversary, but also grew its production 21% to reach 443,443 vehicles. The company started the installation of the Volkswagen Group’s first 100% electric paint drying oven in Martorell, which has recently come into operation. The company has also developed top-tier digitalised tools and systems to guarantee the highest quality of its products, innovations directly benefiting the production of CUPRA’s brand new models. “This is a key moment for our Martorell plant. Together we are driving the transformation of the factory to ensure the launch of the first 100% electric models while continuing to produce combustion and electrified vehicles,” said Jose Arreche, Director of the Martorell plant. The current transformation of SEAT S.A.’s factory in Martorell towards electrification is a key part of the company’s goal of turning Spain into a hub for electric mobility in Europe. SEAT S.A. is leading the cluster of the Volkswagen Group’s electric urban car family, which will democratise access to electric cars. By the end of 2025, the 100% electric CUPRA Raval will roll off Martorell’s production line. Over the following months, the Volkswagen ID 2.all will also be produced in this plant. This summer, the company will move the entire production of the SEAT Ibiza and SEAT Arona to another assembly line in Martorell to prepare a new line for electric cars at the factory. The transformation that SEAT S.A. has set in motion also has a direct effect on the company on an industrial, organisational and cultural level.

Polestar adds rear-wheel drive to Polestar 3 line-up

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Polestar 3 Long range Single motor starts at £69,900 including handover fee Up to 403 miles (WLTP**) range with same luxury features, technology and design as rest of Polestar 3 line-up Available to order from today GOTHENBURG, SWEDEN – 27 June 2024. Polestar is introducing a Long range Single motor to the Polestar 3 line-up, giving consumers another way to get behind the wheel of its SUV for the electric age with a starting price of £69,900. Thomas Ingenlath, CEO of Polestar says “With the Long range Single motor Polestar 3 we offer consumers a new entry-point for our flagship electric SUV. The rear-wheel drive configuration fits with our performance focused driving dynamics that make the car stand out in the luxury SUV sector”. This entry-level Polestar 3 Single Motor, which will be built in China and the USA, uses the same 111 kWh battery pack as the Dual Motor version, offering the same 250 kW peak charging capability for a 30 minute 10-80% charge on DC. Those looking for the most efficient Polestar 3 yet will find the new Long range Single motor offers up to 403 miles (WLTP**) between charges. As a performance brand the Long range Single motor retains all the hallmarks that makes the Long range Dual motor versions such an engaging drive. Ride comfort and control is taken care of by a sophisticated passive damper system that uses Hydraulic Rebound Stops (HRS) and Frequency Selective Damping (FSD). The result is the Long range Single motor Polestar 3 emulates the dynamic character found in the Long range Dual motor models. The motor drives the rear axle of the Long range Single motor Polestar 3 only, and produces 220 kW and 490 Nm of torque. The result is this new Long range Single motor Polestar 3 can accelerate from 0-62mph in 7.8 seconds. Stopping power is equally important, and so the Polestar 3 Long range Single motor uses the same Brembo braking system as the rest of the Polestar 3 range. As part of the MY25 line-up, the Long range Single motor Polestar 3 benefits from greater customisation thanks to the single option and pack structure, meaning customers can personalise their Polestar 3. Buyers can choose from six exterior colours, five interior rooms and four wheel options including the new 21-inch alloy wheel available as part of the new Pro Pack. Like the rest of the MY25 range, Pilot Pack with LiDAR from Luminar becomes available to order on the Polestar 3 Long range Single motor, offering customers even greater levels of safety and convenience should they choose it. Polestar 3 Long range Single motor is available to order at https://www.polestar.com/uk/polestar-3/configurator/

FIVA announces Heritage Hall of Fame inductees for 2024

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Nine new additions to the FIVA Heritage Hall of Fame have been announced for 2024. From a total of 29 nominations from 16 countries around the world, FIVA’s international judging panel voted for the individuals – both living and no longer with us – that they believe to have made the most historically significant impact on the world of motoring. FIVA (the Fédération Internationale des Véhicules Anciens, or international federation of historic vehicles) is able to report that the following individuals accrued the most support from the judges, and will therefore be accepted into FIVA’s Heritage Hall of Fame in 2024: Living legends: From France: Jean Todt (born 1946)The former director of the Scuderia Ferrari Formula 1 team, before becoming director of Ferrari from 2004 to 2008, was also president of the FIA from 2009 to 2021. Most famously, under Todt’s leadership, Ferrari won 14 Formula 1 World Championship titles. From Italy: Paolo Martin (born 1943)Paolo Martin began designing cars in 1960 at Studio Michelotti and, after a brief experience at Carrozzeria Bertone, in 1967, he became head of the Pininfarina Style Centre at just 24 years old. His most famous models include the Dino Ferrari Berlinetta, and Rolls-Royce Camargue. From Hong Kong: Sir Michael Kadoorie (born 1941)Sir Michael promotes the classic car movement as Chairman of the Hongkong & Shanghai Hotels, which runs the annual Quail Rally, The Quail, a Motorsports Event, and The Best of the Best. A regular participant at concours, he won Best of Show at Pebble Beach in 2019. From France: Paul Bracq (born 1933)Bracq began work in the 1950s at the design studio of Philippe Charbonneaux, then at Citroën, before 10 years at Mercedes-Benz. In 1970, he became design director at BMW, where he was responsible for the design of the 5 Series (E12)2, 3 Series (E21), 6 Series (E24)3, 7 Series (E23). From Brazil: Roberto Suga (born 1963)Roberto Suga is a former president of the Brazilian Federation of Vintage Vehicles (FBVA), known for championing collectors regardless of their purchasing power. He did much to break the stigma that the activity of preserving old vehicles is something for wealthier classes. From Uruguay: Carlos Scoseria (born 1952)Carlos Manuel Scoseria, known as ‘Manolo’, is a hero of the Uruguayan historic vehicle world, an engineer who’s dedicated an entire life to the university where he is a professor and his passion for old cars. His achievements include a successful campaign to allow the import of used classic cars. Legends no longer with us: From the USA: Peter Mullin (1941 to 2023)Peter Mullin, renowned collector of French automobiles, founder of the Mullin Automotive Museum, friend to many, and longtime visionary within the automotive hobby, passed away at the age of 82. His legacy lives on through his philanthropy, his museum, and the cars that continue to be shown around the world. From Argentina: Juan Manuel Fangio (1911 to 1995)Fangio is best described in the words of other racing drivers… “He was the most important of all time. He was a driving artist. Despite being my rival all my life, for me he was a father figure.” – Stirling Moss “I don’t think it’s fair to compare me to Fangio, because he achieved his championships at tremendous speed considering the vehicles that existed at his time. He was far superior to us.” – Michael Schumacher From Japan: Keinichi Yamamoto (1922 to 2017)A Japanese mechanical engineer and business executive, Yamamoto supervised the development of the famous Mazda Wankel rotary engine, and served as Mazda’s President from 1984 to 1987, before taking up the role of Chairman, a position he retained until stepping down in 1985. He died on 20 December 2017 in Kanagawa Prefecture, at the age of 95. ***** Says Tiddo Bresters, President of FIVA, “The legends chosen to join our Heritage Hall of Fame range from the world-famous, to the unsung heroes of the historic motoring world. From racing drivers to designers, engineers to world-class businessmen, our eclectic group of motoring heroes have just one thing in common – a passion for historic automobiles.” Note to Editors FIVA (the Fédération Internationale des Véhicules Anciens) is the worldwide organisation dedicated to the protection, preservation and promotion of historic vehicles and related culture, as well as their safe use. Since 2017, FIVA has been a non-governmental partner of UNESCO. For more press information, or to speak to a FIVA representative for a specific country, please contact Gautam Sen, FIVA’s Vice President Communications on communications@fiva.org, +33(0) 6 87 16 43 39 (mobile), or +33 9 66 12 44 64 (landline).

Urban Automotive & Platinum Motorsport present Kim Kardashian’s jaw-dropping, $306,000 custom Range Rover

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Kim Kardashian commissions Platinum Motorsport and Urban Automotive to create her custom $306,000 Range Rover L460, modified to her exacting specification Kim’s exclusive carbon styling kit was designed and manufactured in the UK, and assembled in California – with over 300 hours invested in the complete build process Kim’s chosen customisations include full carbon fibre Widetrack bodykit, personalised ‘KK’ details, satin silver colour change and a set of 24’’ Forgiato alloy wheels See the car revealed on Kim’s Instagram for the first time here: https://t.ly/0wLAH Kim Kardashian has proven she’s been keeping up with custom vehicle trends, commissioning luxury automotive specialists Urban Automotive and Platinum Motorsport to design and build a bespoke modified carbon fibre Range Rover to add to her collection. The brand-new, $306,000 Range Rover L460 is the first project created for the TV star and entrepreneur by Urban Automotive, and one of many vehicles now delivered as part of the company’s relationship with renowned Californian high end custom vehicle builders Platinum Motorsport Group. Unsurprisingly, the companies say the work carried out on Kim Kardashian’s Range Rover has created one of their most comprehensively reworked vehicles so far. Designed to her exact specifications, Kim’s customisations are centred around Urban Automotive’s trademark Widetrack carbon fibre bodykit, which enhances the proportions of the original luxury SUV, adding boldness and presence to one of the most iconic models of all time. The project saw the brand-new Range Rover taken back to bare metal for a full satin silver colour change at a cost of almost $20,000, with paintwork taken care of by Platinum Motorsport Group at the company’s home on Melrose Avenue, Los Angeles. All carbon fibre items were designed and produced at Urban Automotive’s headquarters in the UK, before being shipped to California for assembly. Urban Automotive’s founder and head of design, Simon Dearn, also flew out to Los Angeles to conduct his own final inspection, signing off the special project ahead of delivery. Kim’s choice of modifications included a set of Forgiato Cactus Jack alloys, exclusive 24’’ flat-faced monoblock wheels among a small number of sets ever produced. The wheels are equipped with latest Ultra Pro tyres from Vredestein: a first for any Range Rover in the world. The star is renowned as having a penchant for high-end vehicle customisation, with the Range Rover joining an extensive car luxury car collection which includes a Mercedes-Maybach GLS 600, Lamborghini Urus and Rolls-Royce Ghost. The car has already made its debut on Kim Kardashian’s Instagram account this week, revealed here. “We’re proud of our growing portfolio of celebrity client projects, and the opportunity to work on a bespoke commission by Kim Kardashian has been truly world-class,” says Urban Automotive founder Simon Dearn. “We’ve delivered something that’s unique, meets the very highest of standards, and reflects Urban Automotive’s position at the forefront of vehicle customisation on an international stage. We’d also like to thank our friends at Platinum Motorsport Group for working closely with us to manage the assembly and final touches, helping us continue bringing the best of British to Los Angeles.” For information on Urban Automotive, visit www.urban-automotive.co.uk or call 01908 978978.

ID. Buzz GTX and LWB UK specifications announced

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High-performance GTX and even more spacious LWB (long wheelbase) models join the ID. Buzz line-up GTX features 340PS twin motor layout LWB version is even roomier and packs 86kWh battery for range of up to 291 miles Prices for LWB seven-seater model start at £59,545 ‘on the road’ with deliveries to start later in 2024; GTX pricing to be released soon Milton Keynes, UK (27 June, 2024) – Volkswagen Commercial Vehicles has today announced specifications for the new ID. Buzz GTX and ID. Buzz LWB (long wheelbase) variants. Due in retailers and for delivery to customers later in 2024, prices for the LWB version start at £59,545. Full pricing for the GTX will be released in due course. The high-performance ID. Buzz GTX and even more spacious ID. Buzz LWB are the latest additions to the critically acclaimed ID. Buzz line-up. The GTX will be the most powerful ID. Buzz, while the LWB models provide a longer wheelbase for increased luggage capacity, a standard seven-seat layout and a larger 86kWh battery for even greater range. The 86kWh ID. Buzz Life LWB 286PS starts at £59,545 ‘on the road’ and features a WLTP combined range of 291 miles. The 86kWh ID. Buzz Style 286PS is priced from £64,345 and has a WLTP combined range of 286 miles. Both LWB models feature the same 286PS single motor as the normal wheelbase versions. ID. Buzz GTXAvailable in the UK with 79kWh standard wheelbase, the ID. Buzz GTX is the high-performance flagship of the range. Powered by two electric motors providing four-wheel drive and a combined output of 340PS, the GTX is capable of 0-62mph in just 6.1 seconds. The ID. Buzz GTX with normal wheelbase is available with five seats featuring a 40:60 split three-seat bench in the second row, or as a six-seater with two individual seats each in the second and third rows. Externally, the dynamic and distinctive ID. Buzz GTX is identified by a unique front bumper treatment, plus a gloss black finish for the bespoke honeycomb grille design, the new side air guide elements, the GTX lettering and the exterior door mirror housings. In addition, the exclusive GTX Black 21” ‘Townsville’ alloy wheel is standard equipment for the ID. Buzz GTX. The range of GTX wheel rims is also supplemented by an additional new 21-inch alloy wheel. A new Cherry Red solid paint finish is exclusive to ID. Buzz GTX, which can be specified with Mono Silver metallic as a two-tone paint finish. Inside, dark tones underline the sporty character of the most powerful ID. Buzz, which is equipped with a black headliner. In addition, the seats feature a unique GTX design that’s enhanced by black ArtVelours Eco microfleece with a new diamond pattern as well as red contrasting seams and red piping. Red cross-stitching is used on the multifunction steering wheel, which is refined by a flash of red trim on its centre and chrome GTX lettering. ID. Buzz LWB At almost five metres long and with seating for up to seven, ID. Buzz LWB is perfectly prepared for every adventure. Not only does the increased length create even more space for luggage, it allows for the installation of a bigger 86kWh battery for an even greater range. As with the normal wheelbase ID. Buzz, a seven-seat layout delivers exceptional family-friendly flexibility. Five- and six-seat configurations are available as an option, while on seven-seat models the third row can be removed completely. ID. Buzz LWB measures 4,962 mm in length, compared to 4,712 mm for the normal wheelbase version. The increased length has been achieved by stretching the wheelbase from 2,989 to 3,239 mm. This additional 250 mm has been added to the wheelbase and the sliding rear doors, which have been widened by 192 mm for enhanced access. Both models are 1,985 mm wide without exterior mirrors, and are up to 1,927 mm high, depending on the equipment. In the five-seater configuration, ID. Buzz LWB offers luggage compartment volume of 1,340 litres, compared to 1,121 litres in the normal wheelbase model. With the second and third row seats folded, ID. Buzz LWB provides a cavernous 2,469 litres of carrying capacity, perfect for carrying paragliders, bikes and surfboards. Even with seven people on board, the ID. Buzz LWB has a generous 306 litres of space behind the third seat row. ID. Buzz LWB Life features a generous level of standard equipment, including: 19″ “Tilburg” bi-colour alloy wheels LED headlights with LED rear combination lights Illuminated door handle recesses Dark tinted rear windows Sliding rear door on the left and right Discover Pro’ navigation system with 12.9″ colour touchscreen App-Connect including App-Connect Wireless for Apple CarPlay and Android Auto Two USB-C ports in dashboard, one USB-C charging socket in front passenger area, and four USB-C charging sockets in rear 2-zone Climatronic with enhanced air filter and stationary air conditioning Heated front seats Heated, leatherette wrapped multifunction steering wheel with touch control Split folding rear seat bench (60:40) ‘Buzz box’ – removable centre console with storage compartments and mounting points in floor between front seats Autonomous Emergency Braking Front Assist with Pedestrian and Cyclist Monitoring Adaptive Cruise Control ACC Stop & Go with speed limiter Area view camera Park Assist Plus incl. Park Distance Control Dynamic Road Sign Display 10-colour ambient lighting, and footwell lighting in front and rear 11 kW AC charging power Charging cable mode 3 In addition, ID. Buzz LWB Style trim adds: 20″ “Solna” bi-colour alloy wheels IQ.LIGHT – LED matrix headlights with automatic headlight control, poor weather light, entry lighting LED rear combination lights with dynamic turn signal Power sliding doors left & right with Easy Open and Easy Close with power sliding windows in second row Power tailgate (opening/closing) with Easy Open and Easy Close Multi-flex board (brings the boot space to height of seats when folded flat) Pedals in stainless steel, with play and pause symbols Head up display Harman Kardon Premium sound system ID. Buzz GTX adds to Style specification…

Sunshine – finally – puts convertibles into Top 10 fastest sellers

Industry News

Mercedes-Benz GLC revealed as the UK’s current fastest-selling used car taking just 11 days to leave retailers’ forecourts But convertibles enter Top 10 fastest sellers as sunseekers seek open-top driving on better weather Cars selling the fastest in Scotland but lingering the longest in London 27th June 2024 – Drivers have finally rediscovered an appetite for soft tops following the belated arrival of the British summer, according to the latest data from Auto Trader. Figures from the UK’s largest automative platform showed Mercedes-Benz’ C-Class convertible (petrol, 3-5-years) and the sporty Mazda MX-5 RF (petrol, 3-5-years) both selling in around 16 days on average – marking the first appearance for convertibles among the fastest sellers in 2024 following the wettest Spring since 1986. Even so, consumer demand for convertibles is still down 5.6% year on year compared to June 2023, which was the hottest June on record. By contrast, temperatures this year in “flaming” June were chilled by an Arctic jet stream in the first half of the month. Convertibles also have some way to go before knocking SUVs off the top of the list, where demand has shot up 27% on last year. The Mercedes-Benz GLC (diesel, aged 1-3 years) is currently the fastest-selling used car, taking an average of just 11 days to leave UK forecourts, three times faster than the current national average of 29 days. On average, SUVs are taking around 27 days to sell. More broadly and underpinning the very high levels of consumer demand in the market, used cars are currently selling three days faster than in June last year. In fact, based on the activity of the circa 85 million visits to Auto Trader last month, demand for used cars is up circa 13% year-on-year. Highlighting the nuance of the retail market, volume models are currently taking around 28 days to sell, versus 30 for premium marques. What’s more, middle-aged used cars are currently the quickest age cohort to sell, with 3–5-year-old cars leaving forecourts in just 26 days, whilst 5- 10-year-old cars are taking 27. Those under a year old, are lingering on forecourts the longest, taking 35 days. This is no doubt due to the significant discounts retailers and brands are currently applying to brand new cars, particularly for the growing array of electric vehicles. Since June last year, average discounts applied to brand-new cars have risen from 6.4% to 8.8%, with almost eight in 10 new cars now offering some level of discount. On a regional level, retailers in Scotland are seeing the fastest average speed of sale of all the UK regions, with used cars north of the border taking a mere 24 days to sell. It’s five days faster than the current national average and eight days faster than London, which has the slowest speed of sale of all UK regions, with used cars taking a comparatively lengthy 32 days to shift. Commenting, Richard Walker, Auto Trader’s Data & Insights director, said: “The speed at which used cars sell is an accurate barometer of the strength of the used car market and our data suggests it remains in very robust health as we enter the summer months. With such nuance in the market, the analysis also serves as a good reminder of the importance of looking at data on a granular level. A high-level view would suggest convertibles are under performing, but a quick look under the bonnet reveals there’s plenty of models bucking the overall trend with the final arrival of summer.” Fastest-selling used cars between 27th May – 24th June Rank Make Model Body Type Fuel Type Age Cohort (years) Avg. days to sell 1 Mercedes-Benz GLC Class SUV Diesel 1 to 3 Years 11 2 CUPRA Formentor SUV Petrol 3 to 5 Years 12 3 Vauxhall Grandland SUV Petrol up to 1 Year 13 4 Mercedes-Benz GLB Class SUV Petrol 1 to 3 Years 13 5 SEAT Leon Hatchback Petrol Plug-in Hybrid 3 to 5 Years 13.5 6 Volvo XC40 SUV Petrol Plug-in Hybrid 3 to 5 Years 14.5 7 Kia Sportage SUV Diesel Hybrid 1 to 3 Years 15 8 Peugeot 508 Hatchback Petrol 3 to 5 Years 15 9 Mercedes-Benz C-Class Convertible Petrol 3 to 5 Years 15.5 10 Mazda MX-5 RF Convertible Petrol 3 to 5 Years 16 Slowest-selling used cars between 27th May – 24th June Rank Make Model Body Type Fuel Band Age Cohort (years) Average days to sell 1 Porsche Taycan Estate Electric up to 1 Year 111 2 Mazda Mazda2 Hatchback Petrol Hybrid up to 1 Year 106 3 Kia XCeed SUV Petrol Plug-in Hybrid 1 to 3 Years 106 4 Audi A5 Coupe Petrol up to 1 Year 98 5 Volvo C40 SUV Electric 1 to 3 Years 93.5 6 Lexus UX SUV Electric 1 to 3 Years 91 7 Porsche 911 Convertible Petrol 1 to 3 Years 90 8 Audi Q4 e-tron SUV Electric up to 1 Year 86 9 Volkswagen Passat Saloon Petrol 3 to 5 Years 84 10 Porsche Taycan Saloon Electric up to 1 Year 82

Goodwood announces 2025 headline motorsport event dates

Industry News

The 82nd Members’ Meeting presented by Audrain Motorsport will take place on Saturday 12 and Sunday 13 April The Festival of Speed presented by Mastercard on Thursday 10 – Sunday 13 July The Goodwood Revival on Friday 12 – Sunday 14 September Tickets for Goodwood’s motorsport events will go on sale to the general public later in the year Customers who join the Goodwood Road Racing Club will have early access to tickets and receive a 10% discount when purchasing within the early bird windows With the 2024 motorsport event season well underway, Goodwood is delighted to announce dates for its 2025 headline motorsport events. The 82nd Members’ Meeting presented by Audrain Motorsport will be held on Saturday 12 and Sunday 14 April, followed by the Festival of Speed presented by Mastercard on Thursday 10 – Sunday 13 July and the Goodwood Revival on Friday 12 – Sunday 14 September. The 81st Members’ Meeting has kickstarted an already spectacular year for Goodwood in 2024, as sustainable fuels were mandated across two races, the Ken Miles Cup presented by LGT Wealth Management and the Gordon Spice Trophy, joined by Indy NXT driver – and now race winner – Jamie Chadwick. Eight modern racing sidecars went head-to-head in an incredible demonstration, the likes of which had not been seen on the Goodwood Motor Circuit before, whilst the event also honoured three-time Formula 1 World Champion Niki Lauda. The historic Tyrrell Shed was opened to Goodwood Road Racing Club Members and Fellows as the building became a permanent feature at the Circuit. The Members’ Meeting will continue to host an epic weekend of motor racing, recreating the atmosphere and camaraderie of the original BARC Members’ Meetings held at Goodwood throughout the 1950s and 1960s, exclusively for the Goodwood Road Racing Club community Year after year, the Festival of Speed brings together an exceptional collection of cars and motorcycles, with premieres and debuts around every corner. In 2024, MG will take centre stage with a soaring central feature to mark its centenary, while the theme – Horseless to Hybrid: Revolutions in Power’ – will celebrate the advances in technology that have shaped motorsport and motoring from its origins to the present day. Acknowledged as the place to rub shoulders with the biggest names in motorsport, this year’s event will welcome six Formula 1 teams, as three-time Formula 1 World Champion Max Verstappen joins Oracle Red Bull Racing to celebrate their 20th anniversary. Visitors can expect a multitude of racing disciplines, drivers, riders, world premieres, outstanding balcony moments and much more in 2025 and beyond. This year the Goodwood Revival will become the first historic racing event to run all its races on sustainable fuel, whilst also celebrating the legendary John Surtees and welcoming over 100 beach buggies for the track opening parade. The immersive celebration of fashion, vintage lifestyle, and wheel-to-wheel racing will continue to celebrate the years when the Circuit was originally in operation between 1948 – 1966. Visitors can expect memorable demonstrations and tributes dedicated to renowned cars and racing icons, and see how the event champions the Revive & Thrive ethos with a host of workshops and talks. The Duke of Richmond CBE DL, founder of Goodwood’s motorsport events, said: “The 2024 motorsport event season is well underway, and having already hosted a spectacular Members’ Meeting in April for our Goodwood Road Racing Club Members and Fellows, and with the Festival of Speed just two weeks away, we are thrilled to announce the dates for our 2025 events. Year on year, our events continue to grow, innovate and develop, with 2025 serving as no exception – it’s certainly going to be another unmissable year at Goodwood.” When do tickets go on sale?Tickets for the 82nd Members’ Meeting presented by Audrain Motorsport, Festival of Speed presented by Mastercard and Goodwood Revival will go on sale at goodwood.com later in the year. To receive priority booking and a 10% discount on tickets – as well as additional on-event benefits – join the Goodwood Road Racing Club here. Further details of the 2025 motorsport event season will be announced in the coming months and media accreditation for the Festival of Speed and Goodwood Revival will open in early 2025.