Live coverage of business, economics and financial markets as world’s third-largest carmaker plans to make 14 hybrid models
For the other side of the coin to Hyundai’s decision to shift emphasis more to hybrids, take a look at China’s Xpeng: it has revealed a new electric car priced at only 119,800 yuan (£12,700).
The Mona MO3 electric car will be one of the cheapest on the market from a well-established brand.
Unless we get that full investment amount we are not going to be able to secure economic growth, we are not going to be able to build the £1.5m homes that we desperately need and we are not going to be able to end the sewage flowing into our seas.
We are not allowing our system and economy to grow as it should because of a lack of water. Arguing about dividends is not going to solve the problems we have for the future.
Investors are telling us, they have choices, and if we want them to put their money into the UK, into the water system so it can be expanded and upgraded, then they need to see a modest return. And the return being proposed by Ofwat is simply not enough to allow the improvements to occur. Returns are very modest, five companies made a loss last year and this is not an industry awash with profit.
No rational investor at the moment under current arrangements would entertain the proposal that Ofwat is putting forward.
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