The UK is vying with Germany to be Europe’s largest market for electric vehicles during 2024, after carmakers spent an estimated £4.5bn in discounts to spur the switch away from internal combustion cars. EVs accounted for 19.6 per cent of new cars sold in the UK last year, according to figures from the Society of Motor Manufacturers and Traders. This is higher than the 16.
8bn to buy credits to avoid fines for the past year, the Department for Transport said it was “confident” that flexibility in the current scheme meant that none of them would face financial penalties for the year 2024. The ZEV mandate — which was drawn up by the previous Conservative government when sales were expected to rise sharply — has come under significant criticism from the industry, which has warned that pushing too fast will cost jobs.
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Germany latest: Saudi Arabia 'repeatedly warned' Germany about suspect's 'extremist' views before Christmas market attackA 50-year-old suspect is being remanded in custody after five people were killed and more than 200 injured in a car-ramming attack at a Christmas market in Magdeburg. Saudi Arabian sources say they repeatedly warned Germany about the suspect's 'extremist' views.
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Copper Prices 2024: Volatility and Market EmotionalityThe Copper Monthly Metals Index MMI remained bearish in December, despite a volatile year for copper prices. Investors were initially optimistic about a rate cut and increased demand for infrastructure and renewables, but sticky inflation and constrained global demand dampened these hopes. While prices trended sideways in Q1, treatment and refining charges reports and investment fund activity caused a spike in prices. Momentum continued into Q2, fueled by investor belief in a supercycle driven by rising electrification demand and constrained supply.
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