takes

4th generation takes over South Carolina car dealership

The Fairey family name and cars are synonymous.

Fairey Chevrolet Cadillac had its beginning near the birth of the American automotive industry and now, almost 100 years later, the Orangeburg dealership is embarking on the next step in a historic journey.

Joseph K. Fairey III has retired and stepped down as the dealer operator, handing the reins to his son, Joseph K. Fairey IV. The change will bring the fourth generation of the Fairey family into the automotive dealership business.

“I am so thankful to my family for the opportunity to lead this great business and will stay loyal to our core values while serving our past, present and future customers,” 35-year-old Fairey IV said. “There are certainly challenges and changes ahead in our industry.”

“So many years of blood, sweat and tears have been poured into our store to get us to this point,” Fairey IV said.

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Lotus unit takes step toward e-car switch

Units of Lotus and electric-vehicle upstart Nio signed an investment pact as the Chinese owner of the iconic maker of British sports and racing cars seeks to transform it into an all-electric brand.

Lotus Technology and Nio will explore collaboration in areas including high-end intelligent EVs, according to a statement. The unit, which develops electric cars for the Lotus brand globally, broke ground on its global headquarters in Wuhan last week and plans to roll out a range of new models over the next five years.

The first, a sport utility vehicle code named Type 132, will debut next year. This will be followed in 2023 by a four-door coupe and another SUV in 2025. An all-new electric sports car, the Type 135, will hit the market in 2026.

The models are in addition to the Evija all-electric hypercar and the Emira, the last gas-powered sports car from Lotus,

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Croatian EV company Rimac takes majority stake in supercar maker Bugatti

ZAGREB, Croatia — Croatia’s electric supercar maker, which started in a garage a decade ago, is taking over the iconic French manufacturer Bugatti in a deal that is reported to be worth millions of euros.

The Croatian car producer Rimac Automobili said Germany’s Volkswagen Group
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including the Porsche division — which owns a majority stake in Bugatti — plans to create a new joint venture. The new company will be called Bugatti-Rimac.

Rimac Automobili announced Monday that it will be combining forces with Bugatti to “create a new automotive and technological powerhouse.”

Rimac has progressed in 10 years from a one-man garage startup to a successful company that produces electric supercars. Mate Rimac, who founded the company in 2009, says the venture is an “exciting moment” and calls the combination of the companies “a perfect match for each other.”

Porsche will own 45% of Bugatti-Rimac while Rimac Automobili

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Jaguar takes on Tesla in all-electric drive

Jaguar XJ

Jaguar XJ

Jaguar is going all-electric by 2025 under new boss Thierry Bolloré’s £2.5bn-a-year investment plan that will also “reimagine” the famed marque as a rival to the likes of Tesla.

The boss of Britain’s biggest car maker will not develop new Jaguar cars with internal combustion engines after the existing models end their production runs.

Instead he is taking the badge upmarket to compete with rivals such as Aston Martin and Bentley and is planning only battery-powered models.

Land Rover is also going electric, with the first battery-powered model going on sale in 2024. All the company’s vehicles will have an electric option by the end of the decade.

JLR is also developing hydrogen fuel cell-powered vehicles in anticipation of future demand for cars powered by the gas, with the first test vehicles on the roads this year.

After taking the wheel at JLR in September, Mr Bolloré’s

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