Rolls-Royce to sell an EV in the next decade as emissions laws tighten

  • Rolls-Royce plans to bring an electric vehicle to market within the decade, Automotive News Europe reports. 
  • There isn’t much demand for an EV from the company’s customers, but the brand is developing one because many cities plan to ban gas-powered cars in the not-too-distant future. 
  • Bentley, one of Rolls-Royce’s competitors, has advertised more ambitious plans — it intends to release an EV by 2025 along with a hybrid version of each of its cars.  
  • Visit Business Insider’s homepage for more stories.

With emissions regulations tightening and at least 20 major city centers worldwide planning to ban combustion-engine cars by 2030, automakers are scrambling to make their lineups more sustainable and less reliant on fossil fuels. That includes companies synonymous with high class and low fuel economy. 

Automotive News Europe’s Nick Gibbs reports that Rolls-Royce, whose $500,000 Phantom sedan currently gets an EPA-estimated 12 mpg in the city, plans to release

Read More

Bicycle Therapeutics Announces Gross Proceeds of $50.0 Million from its At-the-Market Offering Program and Enters into Debt Financing from Hercules Capital

CAMBRIDGE, England & BOSTON–(BUSINESS WIRE)–Bicycle Therapeutics plc (Nasdaq: BCYC), a biotechnology company pioneering a new and differentiated class of therapeutics based on its proprietary bicyclic peptide (Bicycle®) technology, today announced that it has completed its at-the-market (ATM) offering program initiated during the third quarter, generating gross proceeds of $50.0 million. Cantor Fitzgerald & Co. and Oppenheimer & Co. Inc. acted as placement agents for the offering.

In addition, Bicycle announced that it has closed a financing with Hercules Capital, Inc. (NYSE: HTGC) for a term loan of up to $40.0 million in two tranches. Under the terms of the loan and security agreement, an initial tranche of $30.0 million will be fully available at the loan closing, with a minimum draw of $15.0 million.

“I am pleased to announce the successful utilization of our ATM program and our flexible financing with Hercules, which have further

Read More

France Maps Out Lower Electric-Car Subsidies Ahead

(Bloomberg) — France will gradually cut hybrid and electric-car subsidies in the coming years, posing risk to a segment that’s growing but remains a relatively small portion of one of Europe’s top auto markets.



a close up of a motorcycle: Renault SA Car Showroom as Zoe Sales Beat Electric Rivals


© Bloomberg
Renault SA Car Showroom as Zoe Sales Beat Electric Rivals

The government plans to decrease an incentive to buy electric cars from 7,000 euros ($8,160) this year, to 6,000 euros next year and 5,000 euros in 2022, according to a budget plan unveiled Monday by Finance Minister Bruno Le Maire. The state handout for plug-in hybrid vehicles will be halved to 1,000 euros next year.

Loading...

Load Error

A separate incentive for low-income households switching to electric vehicles will be 3,000 euros, lower than the 6,000 euros maximum cash-for-clunkers subsidy that was offered for a couple of months earlier this year.

“We have backed the auto industry while at the same time accelerated the lowering

Read More