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“I believe all fuels will be made in this way, and we won’t be using fossil fuels anymore at all. Zero continued its foray into motorsport in April, linking up with 2B Autosport to become the first synthetic fuel partner in rally car racing. Zero PetroleumZero could perhaps seek to emulate P1 Fuels, a synthetic fuel firm that is already an established player in the industry. Porsche announced this year that the Porsche Mobil 1 Supercup – a one-make stock car series – would run exclusively on synthetic fuels produced at the Haru Oni plant. In addition, some experts suggest that electric power, a significantly cheaper alternative to synthetic fuels, would be a much more efficient way of decarbonizing the sport than synthetic fuel.
Persons: BloombergNEF, Haru, , Paddy Lowe, , Lowe, Nigel Mansell, Nico Rosberg, Mika Häkkinen, Lewis Hamilton, Peter J Fox, “ petrolhead, “ I’ve, Damon Hill, Zero, Valtteri Bottas, Zhou Guanyu, Lamborghini Miura, Diehard, Jean Todt, Loredana Sangiuliano Organizations: CNN, Zero Petroleum, diesel, Vehicles, NASCAR, CNN Sport, Hydrogen Insight, McLaren, Mercedes, Constructors, Formula One, Sauber, Autosport, British Royal Air Force, Zero, P1, World, Porsche, Porsche Mobil, Aramco, Former International Automobile Federation, FIA, E Locations: Bicester , England, Southern Chile, Bicester, Saudi
May 15 (Reuters) - British electric vehicle start-up Arrival SA (47K0.F), said on Monday it had $130 million in cash and cash equivalents at the end of March, down nearly 37% from the end of December. The company, which did not provide any details on first-quarter results in its earnings release, said it has built three vans at its Bicester factory, with five more in progress. Earlier in April, Arrival said it would merge with blank-check firm Kensington Capital Acquisition Corp V (KCGI.N). The transaction would allow Arrival to access up to $283 million of cash "held in trust" for building its Charlotte, North Carolina factory and for developing its XL Van, Arrival said on Monday. Reporting by Tiyashi Datta in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
ZURICH/BERLIN/LONDON, March 20 (Reuters) - Urs Kessler, who runs Jungfrau Railways, a train that takes tourists up the highest mountain in Switzerland, was excited for the return of Chinese tourists after COVID-19 restrictions were lifted late last year. Chinese outbound flight bookings to Europe during March and August are only 32% that of pre-pandemic levels, according to travel data firm ForwardKeys. OPTIMISM FOR THE FUTUREMany tourist operators and retailers hope the second half will bring a relaxation in visa policies, more flights and the long-expected influx of Chinese tourists. Harrods launched branded stickers, including its iconic teddy bear, on China's popular WeChat messaging platform this year to attract Chinese tourists. Kessler believes his Lang Lang campaign was still worth it.
EV startup Arrival to focus on U.S. market to rein in costs
  + stars: | 2022-10-20 | by ( ) www.reuters.com   time to read: +1 min
Oct 20 (Reuters) - Arrival SA said on Thursday it would restructure its business to focus on the U.S. market, seeking to capitalise on the Inflation Reduction Act incentives and a larger addressable market as the electric-vehicle startup strives to cut costs. The Inflation Reduction Act is expected to result in $7,500 to $40,000 in tax credits for commercial vehicles. Arrival, which has lost nearly 90% in stock valuation so far this year, said in July the restructuring could result in up to 30% reduction in its workforce. In 2020, the company received an order for 10,000 electric vans from United Parcel Service (UPS.N), with the option for an additional order of 10,000 units. EV startups that promised to disrupt the automotive industry are now scrambling to keep a lid on costs amid supply chain issues and rising raw material prices.
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