INEOS Group chief executive Sir Jim Ratcliffe has confirmed plans to expand the model range beyond the flagship Grenadier to include a smaller SUV. The vehicle will be priced below £49,000.
Ineos says it will use an “all-new” platform — tweaked to match the new car’s entry-level billing. It will have a similar focus on off-road capability and the same positioning as a “workhorse.” The Grenadier is heavily inspired by the Land Rover Defender, which has long been available in different sizes. It appears that Ineos is now lining up its own version of the shorter Defender 90.
It will be built alongside passenger and commercial versions of the Grenadier at the Ineos factory in Hambach, France. The company has yet to give an estimated timetable for its release.
With the Grenadier positioned as a competitor to the Land Rover Defender 110, Jeep Wrangler and Mercedes G-Class, the new entry-level model will compete with the Dacia Duster and Suzuki in the affordable compact 4 by 4 segment. Thanks to its all-electric powertrain, it will stand out.
Comments from the company’s CEO suggest the new model could be called a descendant of the Grenadier — perhaps like the relationship between the rugged US-market Ford Bronco and its lifestyle-oriented brother, the Bronco Sport, which use a different platform.
“What we’re looking at quite carefully at the moment is a smaller version of the Grenadier – electric,” said Ratcliffe, giving the first details of the new model.
“We need to embrace the future, which clearly, in an urban environment, is going to be electric. Even in a country environment if you’re a farmer, you probably will have an electric vehicle you can drive around on tracks and things like that.
“So you want one that’s capable, but it’s electric. I think that’s our vision at the moment.”
Crucially, though, while this new compact 4 by 4 Ineos will mark its first foray into battery-electric propulsion, it’s not abandoning plans for fuel cell vehicles.
Expect more details on the Ineos model in the coming months as Grenadier’s first customer examples reach European customers.
Employees can lease electric cars from the bank for up to 48 months and receive tax benefits. They have the option to buy the car outright at the end of the contract.
In the war for talent with tech and other industries, banks are keen to improve employee service. This is forcing them to raise wages, improve corporate culture and meet demands for more flexible working hours.
Providing electric vehicles, or at least places where workers can recharge them, is becoming increasingly popular as a way to attract talent. This is fueled by growing concerns about the climate crisis and the desire for more sustainable forms of transportation. Bank of America rolled out a similar system earlier this year.
CEO, Ian Stuart said, “HSBC UK’s green car program will help employees become more sustainable in their day-to-day lives”.
Under UK tax rules, employees are taxed on employee benefits in the same way as company cars. But they pay less for electric or hybrid cars, which get a benefit-in-kind tax break. Electric vehicles with a range of 130 miles are taxed at 2%.
A number of employers in the UK offer similar bike-to-work schemes, where they subsidise the purchase of a bike or have employees repay it as part of their monthly salary – a practice known as salary sacrifice.
Climate-focused benefits, such as access to green transport or sustainable education and training, are also a way for banks to improve their green credentials.
When it comes to accusations of funding the Climate Crisis, the worst offenders are Chase Bank and Barclays. Don’t fall for their adverts!
During a presentation at the Financial Times Moral Money Summit, Stuart Kirk, head of responsible investing in the bank’s asset management office, claimed that warnings over the climate crisis were “unsubstantiated” and “shrill.”
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