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  • Reuters

    ACEA aims to become infrastructure group with 7.6 billion investment

    Italy's ACEA said it would invest 7.6 billion euros ($8.3 billion) to 2028 to grow its activities in regulated sectors including water, power grids and waste management as it pivots to becoming an infrastructure operator. "The strong discipline on costs and investments is a key aspect of our strategy to support cash generation combined with optimisation of our financial structure and capital allocation," Chief Executive Fabrizio Palermo said in a statement. In the next few years some 91% of total capital expenditures will be devoted to regulated businesses, increasing the contribution of this activities to EBITDA, while the input from its electricity retail business would shrink as the group moves away from its traditional utility business model.

  • Reuters

    EU risks losing ground in EVs without strong industry strategy - ACEA

    Europe's electric vehicle (EV) sector risks falling behind without a robust EU industrial strategy, autos group ACEA said on Thursday citing new report findings, amid China's dominance of the supply chain and U.S. incentives for its automakers. A new report by France's Ecole Polytechnique university shows an "immense scale of challenges" for the European Union in developing an EV supply chain, the European Automobile Manufacturers' Association (ACEA) said, highlighting risks to the competitiveness of Europe's EV production as other global regions aim high with their industrial strategies.

  • Reuters

    EU new car sales growth to slow, EV share to rise in 2024 -ACEA

    European Union new car sales will rise by only 2.5% in 2024, a slowdown compared to a 12% increase in 2023, European automobile manufacturers association ACEA forecast on Wednesday, although the share of electric vehicles will sharply increase. The 2023 forecast is an upgrade from ACEA's forecast in January of 5% growth. ACEA said the share of battery electric vehicles would rise from 14-14.5% this year to about 20% in 2024.