Johnson Matthey, a company with 13,000 staff in 30 countries and sales of £3.5 billion a year, had grown heavily dependent on the chemicals used by the car industry to make catalytic converters, which generate about 60 per cent of its sales. “It has become a very strong part of our business in a very consolidated market.” Yet investors have grown skittish about the future of this market and Johnson Matthey’s heavy exposure to it, as the motor industry prepares for a shift to electric vehicles and as sales of diesel cars in Europe have collapsed amid rising concerns over emissions. Mr MacLeod believes that it’s time for a change of strategy and is placing a big bet on electric battery technology, which he believes represents the company’s future. “We are in a unique transition with the evolution of the [automotive] power train. It’s a very exciting and interesting time for the company and the industry.”
The Times 9th Feb 2018 read more »
One of Britain’s largest clean energy suppliers has teamed up with Honda to trial how electric vehicles could be used to help power homes more efficiently. The pair’s full-scale trial will integrate electric vehicles into test homes on the Salford University campus that run solar panels, home batteries and smart heating systems to demonstrate how consumers can draw on the home energy boom to bring down bills. The plans flip the traditional energy dynamic, which assumes that electric vehicles (EVs) will receive power from homes by developing a ‘vehicle-to-home’ system.
Telegraph 9th Feb 2018 read more »