AUS
NZ
UK
CA
USA
IND
Highlights
- Toyota Motor Corp’s Western Europe new car sales will be zero-emissions models by 2035.
- Aston Martin’s shares fell over 8 per cent after it reported its CFO would be stepping down by June 2022
Japanese automaker Toyota Motor Corp (LON:TYT) said all of its new car sales will be zero carbon-emitting models by 2035 in the Western Europe region.
The statement comes as the carmaker aims to meet stricter rules surrounding emission in the region.
According to some media reports, the company expects at least 50 per cent of its car mix will be zero-carbon emitting models by 2030, including electric vehicles (EV) and hydrogen fuel cell-powered vehicles.
The UK and Europe have placed tighter emissions restrictions in order to address climate change.
Year 2050 is the target when the UK has committed to become carbon neutral. Recently, the UK mandated all new buildings should have EV chargers as part of its efforts to meet this goal.
Let us take a look at 2 FTSE listed EV-related stocks in the automotive sector and their investment prospects for the long term:
- Aston Martin Lagonda Global Holdings PLC (LON: AML)
Aston Martin is a British luxury automaker and a part of the FTSE 250 index. The company is planning to launch a pure EV model around 2026.
The company’s shares dropped sharply on Thursday after it stated that Kenneth Gregor, Aston Martin’s CFO, would be stepping down from his role for personal reasons.
Mr Gregor will step down from the company by 30 June next year. The company said it had begun the process for hiring a new CFO.
Image source: EODHD/Others
Aston Martin’s shares ended down by 8.05 per cent at GBX 1,411.50 on 2 December, while the FTSE 250 index closed at 22,684.84, down by 1.00 per cent.
The company’s market cap stood at £1,783.82 million as of 2 December.
- Saietta Group PLC (LON:SED)
Saietta Group is a UK based motor design & engineering company specialising in EV solutions.
The company recently acquired e-Traction Europe BV, which is a Netherlands based E-drive train maker.
Saietta bought the business from Chinese real estate group Evergrande’s auto division, the New Energy Automotive group. The deal was for a total consideration of about EUR 2 million.
Image source: EODHD/Others
Saietta Group’s shares ended up by 3.03 per cent at GBX 255.00 on 2 December, while the FTSE AIM All-Share index closed at 1,188.74, down by 0.61 per cent.
The company’s market cap stood at £210.49 million as of 2 December. It was admitted into the LSE’s submarket AIM earlier this year in July.
