Connect with us

Published

on

Empty shelves that usually stock bottled water at Sainsbury’s supermarket, Greenwich Peninsular, on September 19, 2021 in London, England.
Chris J Ratcliffe | Getty Images

The U.K. has emerged from the Covid-19 pandemic to find itself faced with an onslaught of new economic crises that have left the country in “a precarious position,” experts have warned.

A perfect storm of labor shortages, skyrocketing natural gas prices and global supply chain constraints have put the country in prime position for a difficult winter. Rising demand as economies reopen has created similar problems all over the world, but economists argue that Brexit has exacerbated these issues for Britain.

Labor shortages

A lack of workers is affecting a slew of industries across the country.

Britain has an estimated shortage of 100,000 truck drivers, which haulage organizations have largely attributed to a post-Brexit exodus of EU nationals. The lack of truck drivers has disrupted deliveries, leading to empty store shelves, backlogs at ports and dry gas stations, which sparked a panic buying frenzy in September that lasted weeks.

Other sectors have also warned of deepening labor shortages that are expected to damage the availability and price of goods in the runup to Christmas.

Britain’s National Pig Association has warned that up to 120,000 pigs face being culled within weeks because of a lack of butchers and abattoir workers.

In a statement on Friday, the vice president of the U.K.’s National Union of Farmers said labor shortages across the food supply chain remained acute, while the CEO of the U.K. Warehousing Association said in September that industries including warehousing, engineering and transport were all experiencing severe worker shortages.

At the end of September, the Confederation of British Industry — which represents 190,000 businesses — said its latest data showed 70% of companies were planning pay rises in a bid to tackle labor shortages.

The U.K. government has issued thousands of temporary visas for truck drivers, butchers and agricultural workers, but some critics have argued that this is insufficient to lure foreign workers.

Risk to future growth

Riccardo Crescenzi, a professor of economic geography at the London School of Economics, expressed some skepticism about the solutions being offered by the government.

“Offering three-month [visas] might not work while the rest of the EU is booming because of the injection of resources allowed for its recovery plan,” he told CNBC in a phone call. “And there is not really an unemployment problem in the U.K., so I struggle to see where drivers would come from in the domestic economy.”

Crescenzi said it was hard to know if the issues were temporary. “Some of these shortages could become structural, and this is a problem that can seriously constrain future growth.”

Sam Roscoe, senior associate professor in operations and supply chain management at the University of Sussex, warned that shortages would persist in the U.K. unless there were fundamental changes to the country’s immigration system.

“Brexit was sold as a vote on immigration independence, the U.K. labor market and making sure that everybody in the U.K. had jobs to go to, but the issue is we have 5% unemployment,” he said via telephone. “We’ve lost access to 27 member countries and the labor pool that was once available there, especially in terms of so-called low-skilled labor. I think that definitely puts us in a precarious position.”

Roscoe said it would take years to get enough Brits trained and licensed to drive heavy goods vehicles. “In the meantime, the reality is we’re going to have labor shortages unless the visa rules change.”

Spending power threatened

In a note on Thursday, Credit Suisse economists warned that U.K. consumers “face headwinds in the next few months,” including elevated inflation, supply shortages and the tightening of monetary policy.

“We think real disposable incomes for the U.K. consumer can fall by about 1.5% in 2022, the biggest fall since 2011,” the note’s authors predicted.

Helen Dickinson, head of the British Retail Consortium, told ITV News Thursday that three in five CEOs said they would have to raise prices by the end of the year due to supply chain problems. Some 10% said they had already done so.

Charalambos Pissouros, head of research at JFD Group, said he believed panic buying and supply shortages in the U.K. might also impact spending power by damaging sterling’s value.

“I see the risk surrounding the future of the British pound as tilted to the downside,” he told CNBC. “How severe any further tumble may be depends on how long the situation stays unresolved. Quick responses like the involvement of the British military could restore economic performance sooner than thought and halt sterling’s fall, and this could also allow the Bank of England to proceed freely with its tightening plans.”

Government response to crises ‘alarming’

It comes as Britain also faces an energy crisis. Several U.K. energy suppliers have collapsed since September as wholesale gas prices climbed to record highs. While the problem has affected markets worldwide, the U.K. is particularly vulnerable because of its reliance on gas; more than 22 million households are connected to the British gas grid.

Meanwhile in Europe — which is also battling rising prices — the European Commission on Wednesday published a “toolbox” that member states could use “to address the immediate impact of current [gas] price increases, and further strengthen resilience against future shocks.”

Crescenzi told CNBC that the EU can count on the strength of its single market, “which means global shocks like the gas price crisis can be dealt with more effectively with significantly more room for manoeuvre.”

“Following Brexit, the U.K. could still coordinate its response to the crisis with its most important trade and investment partner to ensure the best possible protection for its firms and citizens,” he added. “However, measures put out by the U.K. government remain unclear, let alone a strategy to coordinate with external partners. This is alarming.”

EU-U.K. relations have been under strain in recent weeks amid disputes over the Northern Ireland protocol, a special trade deal introduced to avoid a hard border between Northern Ireland and the Republic of Ireland. Officials have publicly argued on Twitter over the proposals — dubbed the “biggest source of mistrust” between both sides by U.K. Brexit Minister David Frost — and met to discuss proposed changes in Brussels on Friday.

Continue Reading

Environment

Tesla CEO Elon Musk claims driverless Robotaxis coming to Austin in 3 weeks

Published

on

By

Tesla CEO Elon Musk claims driverless Robotaxis coming to Austin in 3 weeks

Tesla CEO Elon Musk said the company will remove “safety monitors” from the passenger seats of Tesla’s Robotaxi vehicles in “about three weeks,” which would mean we’d see completely driverless Teslas in the Austin area potentially by the end of the year – if that timeline sticks.

Tesla has been working on a system that would allow vehicles to drive themselves, which has been in “beta” release for over a decade now. It calls this system “Full Self-Driving,” despite the fact that the system does not currently drive itself.

That has not stopped Musk from consistently promising more and more of the system, despite its stagnating capabilities. Over the course of the last decade, Musk has consistently promised driverless vehicles within the coming year, with deadlines consistently passing by without achieving that goal.

One of those promises has been the creation of a driverless taxi network, which Tesla used to call “Tesla Network” and is now calling “Robotaxi.” The idea originally came with the promise that owners could use their cars to make money by running them as taxis, but that hasn’t panned out.

Advertisement – scroll for more content

Tesla did roll out its own version of a taxi network, though, in Austin, in June of this year. While it’s done a few cool things, the cars each have a “safety monitor” in the passenger seat who can take control at any time, which means the cars aren’t truly “driverless” since there is an operator, they’ve just been moved to the passenger seat.

In the time since Robotaxi’s rollout, it’s made quite a few mistakes and had a high crash rate. But Tesla also delivered one fully unoccupied vehicle from the factory to a local buyer, which was a cool (and, as yet, still unique) stunt.

Throughout the year, Musk has claimed loudly that the system would improve rapidly, stating that by the end of the year Robotaxis would be available to half of the US population (they are not) and that Tesla’s fleet would grow by more than 10x by the end of the year (it has not).

But now we have another bold prediction from Musk, stating that the safety monitors will be out of a job by the end of the year.

During a videoconference at a hackathon event for xAI, one of Musk’s other companies (which he is trying to get Tesla shareholders to bail out), Musk was asked a question about the barriers to unsupervised full self-driving. Musk answered:

Unsupervised is pretty much solved at this point. There will be Tesla Robotaxis operating in Austin with no one in them, not even anyone in the passenger seat, in about three weeks. I think it’s pretty much a solved problem, we’re just going through validation right now.

The “three weeks” timeline is familiar to longtime Tesla followers. Over the years, Musk has often promised fixes or software updates in “two weeks,” and they often take longer than that.

Three weeks is a lot closer than the “next year” promise that we’ve heard so many times for full autonomy, but given its proximity to the oft-inaccurate two-week timeline, we’re not sure these vehicles will actually be ready in time for New Year’s Eve celebrations.

Nevertheless, it’s a closer timeline than Musk has usually given, so there may be truly driverless Teslas operating sometime soon™.

Also, reading the statement more closely, it sounds like they won’t necessarily remove safety operators from every vehicle, but some vehicles. This could be similar to the singular driverless vehicle delivery that Tesla did – a PR stunt, rather than a full rollout. We’ll have to wait and see.

Tesla’s main competitor in the robotaxi space is Waymo, which has been operating truly driverless vehicles for several years now. The company has also been operating autonomous, driverless vehicles in Austin since March of this year.

Musk went on to talk about future improvements to Tesla’s software and hardware in his answer.

The company is currently on hardware previously deemed HW4, though to cash in on the AI stock market bubble, it now refers to that system as AI4. He said that AI5 will be 10-40 times better than HW4 and go into volume production in 2027, with AI6 coming soon after.

Musk’s mention of future hardware improvements neglects one important aspect of these improvements, which is that for every hardware improvement Tesla puts into its fleet, the more vehicles it will have to upgrade later.

Tesla long promised that its vehicles had all the hardware for self-driving, which means it’s going to have to upgrade a lot of cars – and there are court cases around the world seeking to force the company to do so. Together, these lawsuits and other potential challenges could mean billions of dollars in liabilities for the company.

Musk then closed his statements by claiming that “our” goal is to “to understand the meaning of life and… propagate consciousness out to the stars,” which is not Tesla’s goal. Tesla’s actual goal is to accelerate the transition to sustainable energy. He may have been referring to xAI’s goal, but given the answer was about Tesla, perhaps he was confused (or perhaps he doesn’t care about Tesla anymore, and isn’t a good CEO for the company as a result…)


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Is a $10,000 discount enough to overcome your VW ID.Buzz sticker shock?

Published

on

By

Is a ,000 discount enough to overcome your VW ID.Buzz sticker shock?

VW’s retro-tastic minivan hasn’t been the sales success the company might have wanted, and a lot of that has to do with the van’s sky high price tag. Now, VW is asking: will a $10,000 discount be enough to create some buzz for the ID.Buzz?

Volkswagen is offering $7,500 in Retail Customer Bonus cash this month – up from the $2,500 the company offered its Black Friday customers – that, along with an additional $2,500 unadvertised dealer cash incentive that CarsDirect is reporting absolutely, definitely exists, adds up to a stout $10,000 total discount on the all-electric VW ID.Buzz … and that’s before you start haggling with your dealer over the MSRP.

It’s a lot


VW ID. Buzz trims
Photo: Volkswagen of America.

As much as I like the the Volkswagen ID.Buzz, its starting MSRP around $61,545 (incl. destination) puts it at nearly twice what you’d probably expect a minivan to cost if the last time you shopped for one was at a Dodge store. Still, that hefty price tag is some $20,000 higher than the baseline Toyota Sienna hybrid or Honda Odyssey.

That 50% higher price is a lot to swallow even if you do buy into the nostalgia. Still, the ID.Buzz is capable enough, and with ~230 miles of range and 282 hp on offer from its battery/electric motor combo – plus Supercharger access – it’s at least able to keep up with the minivan competition.

Advertisement – scroll for more content

So, while that $10,000 discount isn’t going to turn the ID.Buzz into the second coming of the affordable, family-hauling Caravan, it does bring VW’s electric people-mover a little closer to earth. In fact, with a $50K price tag, it’s right in line with the average transaction price of a new vehicles. So, if nothing else, that reduced price could finally gives electric minivan buyers something to buzz about (I tried so hard to work that in, you guys).

If you’ve been shopping for a family-hauler and dig the retro vibe over something like the (excellent) Kia EV9, click through the link below and set up a test drive at your local VW dealer.

SOURCE: CarsDirect; images via VW.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Peterbilt takes aim at medium-duty EV market with a full line of new trucks

Published

on

By

Peterbilt takes aim at medium-duty EV market with a full line of new trucks

Peterbilt has jumped into the MD truck ring with the launch three new medium-duty electric trucks that deliver zero-emissions power, ultra-fast 350 kW charging, and proven, versatile platforms for delivery, utility service, and vocational upfitting.

The new Peterbilt 536EV, 537EV, and 548EV medium-duty trucks slot into the same versatile medium-duty segments the company’s fleets already know, but swap diesel power for latest PACCAR ePowertrain, with up to 605 hp and 1,850 lb-ft of torque available at 0 rpm. That big motor draws power from a variety of LFP battery packs and be fitted with ePTO options rated for either 25 kW (two-battery option) or 150 kW (three-battery option), making them suitable for that can be sized for daily delivery routes, urban utility work, and municipal fleets looking to cut both emissions and maintenance costs.

What’s more, the new Peterbilt’s flexible architecture allows for integration with existing PACCAR suspension bits to make 4×2 and 6×4 configurations, and any wheelbase of 163 inches or longer, and up to 82,000 lbs. gross combined weight ratings possible.

“[The new trucks are] optimized for the demands of the medium duty segment, the next generation of Peterbilt electric vehicles deliver excellent efficiency, rapid charging and versatile configurations elevating customer productivity across a wide range of applications,” said Erik Johnson, Peterbilt assistant general manager, Sales & Marketing.

Advertisement – scroll for more content

In addition to all those goodies, the PACCAR EV tech continues to be top-notch, with the previously-mentioned 350 kW charging, regenerative braking, and industry-leading ergonomics.

Peterbilt’s new MDEVs ship with a blue accented crown and grille for a distinctive exterior look, as well as EV-exclusive panels on the side of the hood. The interior design features laser-etched trim panels on the EV-exclusive Magneto Gray interior, just in case the driver in the quiet, smooth, and stink-free cabin forgets they’re in an electric truck.

Electrek’s Take


Peterbilt Expands Electric Vehicle Portfolio with All-New Medium Duty Models 536EV, 537EV and 548EV
Peterbilt 536EV; via PACCAR.

Ignore the headlines. The death of the commercial EV market simply hasn’t happened, and won’t happen any time soon.

If you believe the engineers and analysts at MAN Trucks and Orange EV (and, you should), an EV like this can pay for itself in reduced fuel and maintenance costs even without incentives, then you should already know what I’m about to say: the future of trucking is 100% electric.

SOURCE | IMAGES: PACCAR.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending