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Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
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Share Price: 202.35
Bid: 202.15
Ask: 202.25
Change: 1.35 (0.67%)
Spread: 0.10 (0.049%)
Open: 202.50
High: 203.40
Low: 199.58
Prev. Close: 201.00
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London's bankers favour electric rides over flash cars at Motorexpo

Fri, 13th Jun 2014 16:27

* London Motorexpo runs until Sunday

* 400,000 visitors expected

* Tesla Motors, Lotus, Jaguar and BMW among exhibitors

By Clare Hutchison

LONDON, June 13 (Reuters) - Instead of a Ferrari Testarossa,the next "Wolf of Wall Street" could be driving a zero-emissionscar or even an electric bike if London's Motorexpo show isanything to go by.

Tesla Motors and Dutch electric bike maker B4 Bikeshave been among the busiest stands at the nineteenth LondonMotorexpo this week - a display of sports cars and premiumexecutive vehicles in the Canary Wharf financial district, whichruns until Sunday.

At Tesla, encouraged by the sunshine and warm temperatures,a steady stream of workers from the nearby offices, whichinclude the headquarters of HSBC and Barclays,closely examined its cars stationed in the shadows of thelandmark One Canada Square tower.

The timing was perfect for the California-based company,which launched its first right-hand drive vehicles lastSaturday. Elon Musk, the company's chief executive and theco-founder of online payment system PayPal, came to Britain todeliver the first five vehicles himself.

Tesla's fully electric Model S, which starts at 50,280pounds ($84,400), reaches 60 miles per hour in just over 4seconds. It can travel 312 miles before needing to be recharged.

Laura Hardy, Tesla's communications manager for Britain andIreland, said the company had been inundated with requests fortest drives and had to bring in an extra car to meet demand. Anumber of sales were made at the event, Hardy said.

By Friday, B4 Bikes had sold eight of its e-cruizers -steel-framed bikes powered by a battery engineered incollaboration with the European Space Agency. Designed to looklike a Harley Davidson motorcycle, an e-cruizer retails from4,500 pounds.

"I would seriously consider buying (one)," said Derek Deans,40, who works at HSBC. "If I could afford to buy a 1905 HarleyDavidson I would, but I like the look of (the bike) and it'smore practical."

Getting customers to get out their cheque books was a rarefeat at a time when bankers are facing job cuts and bonusesremain subdued by the financial crisis.

"It's a good opportunity to get people interested in newproducts or to introduce a brand. It's not a huge money makingevent," said Graeme Carver, the chief executive of Motorexpo,adding that sales were difficult to track given the timecustomers take to make decisions.

The free-to-visit show also had more sports cars than everbefore, with stands showcasing a bright orange McLaren 650s, anAston Martin Vanquish and Bentley's new Continental GTV8.

"They (sports car manufacturers) have made an assessment ofwhere they think the market is," Carver said. "(Economicuncertainty) doesn't seem to be hurting us too badly."

Toronto will host its own four-day Motorexpo from June 23,while New York's will take place Sept. 7-12.

($1 = 0.5956 British Pounds) (Editing by Elaine Hardcastle)

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HSBC Holdings PLCAGM
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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