Just lots going on this week. Plenty of it relating to the future, some of it to the past. No greater hark back to the past than the announcement that Jaguar have moved on to a three-day working week. That takes us back to about 1974 from memory. Falling sales, concern over Brexit, WLTP, you name it it seems a perfect storm for JLR, a manufacturer that could do no wrong until about three years ago. Are they having real problems, or, as the more cynical might think, is this a way of softening up the British workforce? If they have to make cuts in future, or set up manufacturing elsewhere they can say it was already not working in UK.
The EU is obviously in the news a lot this week, especially with regards to our future trading agreements with them. On the flipside, we forget just how much power both the EU and large companies have in Europe. And an investigation was launched earlier in the week into a cartel that was allegedly created by Germany’s manufacturers BMW, Daimler and VW. The story has already been covered elsewhere, but we are now beyond rumours of a cartel and into an investigation.
And just as Europe sets to over here, the US has announced an investigation into a leader of new technology in the US. Elon Musk’s recent pronouncements about taking Tesla private again fell foul, apparently, of stock market rules. They could be viewed as manipulating the market, and as such he will have to answer some serious questions in front of the US Justice Department. All this just as Saudi Arabia’s sovereign wealth fund has thrown a substantial investment into Lucid Motors, Tesla’s big rival in the US. The company was rumoured to be desperately seeking investment, this would seem to solve their needs for now.
Have a great weekend, welcome to autumn.
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