World
Increased Tax Credit Provides Welcome Relief to U.K. Independent Film Industry
The announcement of the U.K.’s new Independent Film Tax Credit (IFTC) back in March had a near instantaneous impact, at least in the case of one film production.
“Giant,” the biopic of boxer Naseem Hamed and starring Amir El-Masry, was in advanced pre-production when the news landed, with plans to shoot location work in Hamed’s home town of Sheffield and all the interiors — including the essential boxing rings — in Malta. Sets were already being built on the Mediterranean island, which has been courting numerous film productions in recent years thanks to a generous 40% tax rebate initiative.
But then the IFTC was unveiled and the U.K., when it came to producer’s all-important bottom line, was suddenly much more competitive. What had previously been a 20% tax break was now around 32.5% (it was initially billed as 40%, but is actually lower after corporation tax). Given the costs involved in shipping the film overseas, “Giant” didn’t need to pack up its bags.
“As soon as the tax credit came out, we did the analysis and immediately it made more economic sense, straight away, to keep it here,” explains Zygi Kamasa, the head of distributor and producer True Brit Entertainment. “So we pivoted within days of it coming through.”
“Giant” may have been the first, but just six months on from the announcement of the IFTC Kamasa says that it’s contributed enormously to the output of his nascent company — which was only launched in November 2023 with a focus on films for British cinemagoers. Where there was an initial aim to produce three films in its first year, True Brit will soon begin shooting its eighth. And while some — like “Giant” — would have happened regardless of the tax credit, he says “there were movies that were definitely expedited” because of it.
The significant interest and optimism within the British film industry since the IFTC’s announcement, despite not yet being fully implemented, is a far cry from the dark days of 2022. A report commissioned by the British Film Institute (BFI) that year had the key and ironic takeaway that the overall boom in the country’s film and high-end TV sector had led to a corresponding negative impact on the independent sector. It found that the speed and volume of growth strained the sector so much that it couldn’t compete with larger budget international productions on several levels — from accommodating the rising cost of production to securing cast and crew, and ultimately to reaching audiences.
BFI statistics reveal that getting U.K. films budgeted under £15 million ($19.6 million) into production had become increasingly challenging. After plummeting by 31% in 2022, spend on independent U.K. film in 2023 fell a further 11% to just £150 million ($196.9 million).
Now, in 2024, post IFTC announcement, Harriet Finney, BFI deputy CEO and director of corporate and industry affairs, says, “We’ve seen a lot of positivity in the industry. It’s definitely changed the conversation for independent filmmakers in this country.”
The BFI is currently preparing for increased capacity once the statutory instrument and guidance notes are published later this year. Finney explains, “We’re making sure that we’re in the best possible position to deal with what is likely to be a flurry of activity. It feels like there’s a growing sense of confidence around domestic production.”
Simon Williams, managing partner at Ashland Hill Media Finance, reports seeing an uptick in projects considering filming in the U.K. “We’re getting lots of different projects coming to us, asking if they should be shot in the U.K.,” Williams says. He notes that some international producers are exploring the possibility of adapting their scripts to meet U.K. requirements. “The U.K. looks more attractive for film currently, because the tax credit, it’s probably bigger than pretty much anywhere else in the world, aside from maybe Australia. But Australia is far away and it’s costly to take people over there,” Williams said.
However, Williams expresses concerns about potential cost increases. “We don’t want costs to increase by shooting in the U.K., which negates the benefit of the tax credit,” he cautions.
Ashland Hill-backed “The Magic Faraway Tree,” based on Enid Blyton’s beloved book, is currently in production. “The Scurry,” directed by Craig Roberts and starring Ella Purnell, Rhys Ifans and Antonia Thomas, has just finished shooting, which Ashland Hill funded against the increased tax credit. “That film would never have happened if it wasn’t for this increased tax credit. I think the only thing that may deter some lenders from putting money against it [is] if you are entering into a production now, you can’t put a claim in for your tax credit until April next year. Whereas in the current tax credit, you can make interim claims, which from a producer’s perspective, if you have a lender, you can make multiple claims and pay down the loan quicker, rather than doing one big claim in 18 months time,” Williams said.
Alex Ashworth, head of production at Anton, believes the IFTC will make a significant impact, particularly for films in the £5-15 million ($6.5-19.6 million) budget range. “I think it will really help independent film producers where we’ve lost that mid-budget section,” Ashworth says. “There was a long time where that was the U.K. sweet spot, films like ‘The King’s Speech,’ and I feel like the cost of production has gone up so that it’s very hard to make those at that level. Our incentives are good, but they aren’t necessarily comparable to some other territories. So by doing this, you’re offsetting basically the inflation that our production industry has experienced in the last five to seven years. I think it will really help those independent films who are probably struggling to get their finance plans to hit those higher budget levels.”
Ashworth estimates that Anton is currently working on four to five projects with the IFTC in mind for shooting in the next 12 to 18 months.
Producer Alastair Clark, whose recent film “Sister Midnight” premiered at Cannes, also sees the IFTC as a positive development for the industry. “The mood is great,” Clark says. He also points out that while the net benefit is around 32.5% after corporation tax, rather than the initially advertised 40%, it’s still a significant improvement over the previous system.
Clark is already incorporating the IFTC into his project planning. “Certainly, one very solid project right now that we’re raising the finance for. It’s a big part of it,” he says. Clark believes the increased tax credit will reduce the need for riskier private financing in some cases. “Borrowing against the tax credit versus borrowing against an MG (minimum guarantee) or a sales advance, is cheaper, and therefore helps finance plan a budget,” Clark said.
While the industry awaits full implementation of the IFTC, the initial response suggests it could play a crucial role in bolstering the U.K.’s independent film sector and positioning it far more attractively on the global stage. For Phil Hunt at Head Gear Films, it’s certainly a very positive move after the “nightmare of Brexit,” which he claims “ripped the heart out of indie co-productions.” The veteran producer says he’s already noticed that producers in North America are “definitely now looking to put more productions in the U.K. and, when talking to folk in LA, there seems to be a drain away from the U.S.”
But that’s not to say that execs are seeing IFTC at the perfect solution, of course. As with most newly-launched financial incentives, there are hopes that it will be tweaked and changed along the way, especially with the U.K. under a new Labour government that has, traditionally, been more supportive of the arts. An ideal situation for many is that the 40% rebate actually does mean a full 40% for producers.
“I’d love the government to look at that,” says Kamasa. “I think it should be the full 40%, because then you’d be truly competitive with places like Malta and Italy.”
HOW THE IFTC WORKS
The IFTC is calculated on “core expenditure” related to production activities, with qualifying companies able to claim up to 80% of their core expenditure or the amount of U.K. core expenditure, whichever is less. For a £15 million ($19.6 million) budget film, this could mean a maximum credit of £6.36 million before tax.
After corporation tax, which varies between 19% and 25%, the actual cash benefit could range from £4.77 million ($6.26 million) to £5.15 million ($6.76 million). This represents a substantial increase from the previous Audio-Visual Expenditure Credit (AVEC) system, which would have provided between £3.06 million ($4.01 million) and £3.30 million ($4.33 million) for the same budget.
The BFI will assess film budgets to ensure they meet the IFTC criteria. Productions that exceed the £15 million budget cap during filming will have the option to continue with the IFTC or switch to the AVEC system.
Claims for the IFTC can be submitted to HMRC (His Majesty’s Revenue & Customs) from April 1, 2025, for expenditure incurred from April 1, 2024, provided principal photography began after April 1, 2024.
World
Sportico Top 100: NFL Again Towers Over U.S. Media in 2025
Imagine, if you will, a scenario in which the newly crowned NFL sack king Myles Garrett is tasked with teaching the Muppets about the fundamentals of football, and you’re maybe about a quarter of the way toward appreciating the league’s almost cartoonish dominance over what remains of the American monoculture. Picture the 6’ 4”, 272-pound collection of fast-twitch muscle fibers bearing down on Dr. Bunsen Honeydew and his eternally harried lab assistant, Beaker, in a hands-on demonstration of the ouchiest branch of Newtonian physics—MEEP!—and you’ve got yourself an analogy that’s been all done up in distressed felt and crushed ping pong balls.
It ends badly for all of Kermit’s showbiz pals. A blindside hit reduces Fozzie Bear to a muddied scrap of area rug, while whatever’s left of Miss Piggy will get hosed off Garrett’s cleats and redirected to the Wilson plant in Ada, Ohio. Up in the balcony, even Statler and Waldorf have stopped cracking wise. Scooter had a family!
If entertainment fare has long been shut out of the annual list of America’s biggest TV and TV-adjacent events—the last time a scripted show found a toehold among the top 100 was in 2019, when the series finale of The Big Bang Theory scared up 18.5 million viewers—the NFL also has made short work of much of its sports competition. Having accounted for 83 of the most-watched transmissions in 2025, the Shield put up its second-best numbers on the books, trailing only its run from two years ago, when it nearly ran the table with 93 entries. (A surging college game helped put this year’s football tally at an even 90 entries.)
For all that, the real hero of the 2025 list may well be Nielsen. As much as the NFL kicked off the season by suggesting that the audience for such tentpole events as the Super Bowl and the Thanksgiving Day slate have been undercounted, an upgrade of the company’s methodology—especially as it pertains to an expanded out-of-home sample—has gone a long way toward putting such concerns on pause. (Executives have been complaining about Nielsen practically since it began its 75-year reign as the currency czar, but no pretender yet has managed to supplant it as the underwriter of the $70 billion-and-change TV ad market.)
On the day the jaw-dropping ratings for the Thanksgiving games were released, NFL EVP of media distribution Hans Schroeder gave Nielsen props for beefing up its OOH scrutiny, noting that the efforts to track these impressions in all U.S. TV markets helped “capture the viewership in a more accurate way.” CBS’ Chiefs-Cowboys broadcast averaged 57.23 million viewers, smashing the previous regular-season record by 36%. Strip away all the holiday co-viewing that took place across the nation and CBS’ Tryptophan Bowl turnout would have been closer to 35 million.
And while TV execs rarely make an effort to shout out Nielsen, Fox’s Mike Mulvihill wasn’t stinting in his praise. “Nielsen takes a lot of criticism in this business, but you have to give them credit for the fact that through their rollout of out-of-home measurement, the scorekeeping in this business has finally caught up to the reality,” Fox Sports’ president of insights and analytics told reporters during the post-Turkey Day media scrum. “Sports does have [the power] to bring us together and facilitate shared experience, and the numbers finally reflect the reality that’s been in place for many, many years, and it’s a welcome change.”
The impact of the new method of counting the house is perhaps best appreciated by looking back to the 2023 list. While last year’s top 100 was a bit of an outlier, thanks to a frenzied presidential election cycle, the 2023 tally is particularly instructive when you start digging into the back portion. The cutoff for our latest list was 17.39 million viewers, whereas the count from two years ago halted at 15.03 million viewers. Transpose the 2023 data with the current chart and the bottom quarter drops off into the void. In other words, the new-look Nielsen has helped recapture a sufficient volume of impressions that 27 of the broadcasts that made the cut two years ago wouldn’t have been eligible for inclusion in today’s ranking.
If the Nielsen data should go a long way toward ensuring that the NFL will continue to maintain most, if not all, of its legacy TV partnerships—during the post-Thanksgiving huddle, Schroeder made a point of crediting “the power … and reach of broadcast TV” for doing a lot of the heavy lifting—the streaming giants are an increasingly invasive species. Events that were exclusive to streaming platforms accounted for eight of the 100 items on the list, up from three in 2024, and nearly all the trad TV broadcasts were enhanced by a non-linear simulcast. (Peacock and other digital outlets now account for 11% of NBC’s Sunday Night Football deliveries, up from 5% just a few years ago.)
For all that, an argument can be made for the exclusion of at least one streaming event, as the stateside audience for Netflix’s presentation of the Sept. 13 Canelo Alvarez-Terence Crawford bout was determined without any input from Nielsen. Netflix’s self-reported deliveries are derived via a sort of mysterious alchemy, as the company’s results are a function of the marriage of its own in-house figures and estimates from VideoAmp. As there’s no way to audit these results, the Netflix numbers radiate a heady “trust me, bro” vibe. That said, gatekeeping kept last month’s mandible-shattering Jake Paul fiasco off the list, as Netflix declined to break out the fight’s U.S.-only numbers.
Drop the unverifiable boxing deliveries, and the NFL has bragging rights to 84 of the top 100 events on the list. That quibble aside, sports all but gobbled up the entire chart, as 95 of the items on the list were devoted to football, baseball, basketball, horseracing and boxing. Political events and news programming ran off with 16 of the top spots in 2024, but in the absence of a collar-grabbing quadrennial circus, only three Beltway spectacles carved out space on this year’s chart. The other two non-sports entries were NBC’s presentation of the 99th installment of Macy’s Thanksgiving Day Parade and ABC/Hulu’s staging of the Oscars.
As far as individual results are concerned, the humbled Kansas City Chiefs grabbed 18 spots on the 2025 list, eclipsing their dynasty-disrupting foes the Philadelphia Eagles (14) and the ever-popular Dallas Cowboys (13). Among the networks, Fox earned top marks with 26 appearances, edging NBC (23) and CBS (22), while Disney siblings ESPN and ABC combined to take 19 of the top slots. The NFL, meanwhile, drummed up 19 of the year’s 20 biggest audiences and 46 of the top 50.
Lastly, Major League Baseball staged a welcome return to the upper reaches of the list, as the final frame of Fox’s epic Dodgers-Blue Jays Fall Classic claimed the No. 25 slot. The power of a World Series Game 7 is hard to overstate, even when one of the teams involved has no stateside representation; by comparison, the 2024 Yankees-Dodgers showdown topped off at No. 84 with 18.15 million viewers. A seventh broadcast featuring the reps of the two largest media markets likely would have crashed the top 10, but New York’s farcical fifth-inning meltdown in Game 5 robbed Fox of a potential ratings bonanza.
As for the big-time sporting events that failed to secure a berth in 2025, the NBA Finals fell short despite drawing 16.61 million viewers with Game 7, leaving the league out of the winner’s circle for the sixth straight year. Women’s college basketball failed to repeat its top 100 performance of a year ago, although the men’s game returned to the fold care of CBS’ coverage of the Florida-Houston title tilt. The Kentucky Derby also stormed back onto the list after a three-year layoff, as nearly 18 million people in funny hats (including 959,000 streamers) cheered on Sovereignty’s muddy victory, a turnout enhanced by Nielsen’s OOH upgrade.
Lastly, 2025 saw a rare loss for a Super Bowl lead-out, as Fox’s broadcast of the Season 3 premiere of the Rob Lowe-helmed game show The Floor served up a record-low 13.94 million viewers, this despite the 127.71 million sets of eyeballs that were in place during Philly’s big win over KC. While nothing will ever unseat NBC’s remarkable 1996 showing—the one-hour episode of Friends that aired immediately after Super Bowl XXX notched a now-unthinkable 52.93 million viewers—as the keeper of the Muppets flame, ABC could put up some big numbers in 2027 if they were to give Kermit & Co. the coveted post-Super Bowl LXI slot.
Throw a rampaging Myles Garrett into the mix, and ABC might even have a shot at beating its most recent Super Sunday mark, a special installment of Grey’s Anatomy that drew 37.8 million viewers in 2006 after the Steelers topped the Seahawks in Detroit. Bear in mind that Pittsburgh’s victory “only” delivered 90.75 million viewers; given the new Nielsen currency and the league’s unwavering expansionist tendencies, we’ll likely never again see an NFL championship game dip below the 100 million mark.
For anyone out there still trying to compete with the NFL for the hearts and minds of the American consumer, the only valid response to the league’s latest showing can be summed up in a single interjection: MEEP!
World
After Maduro, Venezuela power vacuum exposes brutal insiders and enforcers
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As Venezuela enters the post-Nicolas Maduro era, former officials and regional experts warn the country may be facing not a democratic transition, but a period of deeper instability and internal conflict between possible successors that some warn could be even worse than Maduro.
Marshall Billingslea, the former assistant secretary for terrorist financing and financial crimes in the U.S. Treasury Department, said Maduro’s removal has exposed a fractured system that was never held together by a single strongman, but by competing criminal power centers now moving independently.
“The cartel has always been a loose association, with each of the mafia bosses having their own centers of gravity,” Billingslea said. “Maduro was the frontman, but he didn’t exercise total control. Now we’re seeing each of those centers spinning off on their own.”
MADURO’S SON GIVES ‘UNCONDITIONAL SUPPORT’ TO NEWLY SWORN IN INTERIM VENEZUELA PRESIDENT
U.S. State Department “wanted” posters show Venezuelan Defense Minister Vladimir Padrino López (left) and senior regime figure Diosdado Cabello, both accused by U.S. authorities of corruption and links to drug trafficking networks. (U.S. State Department )
Billingslea said the capture of Cilia Flores, Maduro’s wife, was as consequential as Maduro’s removal itself.
“The capture of Cilia Flores is a particularly big deal because she was the brains behind the operation and the one who cleared out potential rivals,” he said. “Her removal is equally significant.”
TRUMP ISSUES DIRECT WARNING TO VENEZUELA’S NEW LEADER DELCY RODRÍGUEZ FOLLOWING MADURO CAPTURE
Billingslea outlined what he described as five competing power centers, four within the regime and one outside it. “The removal of Maduro, and particularly the removal of Cilia Flores, leaves a huge power vacuum in the cartel,” he said. “We haven’t yet reached a new equilibrium here.”
In the interim, he foresees a high risk of internal power struggles, violence and further repression as rival factions maneuver to secure control in a post-Maduro Venezuela. But he notes that the Trump administration anticipates this and is executing a clear-eyed strategy to first secure U.S. core interests, followed by the gradual restoration of democracy, all without needing American “boots on the ground.”
TRUMP VOWS US ‘IN CHARGE’ OF VENEZUELA AS HE REVEALS IF HE’S SPOKEN TO DELCY RODRÍGUEZ
Delcy Rodríguez takes over, but power remains contested
Delcy Rodríguez, Maduro’s longtime vice president, was quickly installed as interim leader. But her rise has done little to reassure Venezuelans or international observers that meaningful change is coming.
Rodríguez is deeply embedded in the Maduro system and has long played a central role in overseeing Venezuela’s internal intelligence and security apparatus. According to regional reporting, her focus since taking office has been consolidating control within those institutions rather than signaling political reform.
Former U.S. and regional officials say Delcy Rodríguez’s rise has revived long-standing questions about who truly influences her decisions as she moves to consolidate power.
Venezuela’s Vice President Delcy Rodriguez addresses the media in Caracas, Venezuela, on March 10, 2025. (Leonardo Fernandez Viloria/Reuters)
Those officials point to Rodríguez’s deep ties with Cuban intelligence, which helped build and operate Venezuela’s internal security and surveillance apparatus over the past two decades. Cuban operatives played a central role in shaping how the regime monitored dissent and protected senior leadership, embedding themselves inside Venezuela’s intelligence services.
At the same time, former officials say Rodríguez appears to be testing cooperation with Washington, creating uncertainty over how much leverage the United States actually holds. Some view her limited engagement with U.S. demands as tactical, aimed at buying time while she works to secure loyalty inside the regime and neutralize rival factions.
A former Venezuelan official previously told Fox News Digital that Rodríguez “hates the West” and represents continuity with the Maduro regime, not a break from it.
KRISTI NOEM DELIVERS TRUMP’S ULTIMATUM TO VENEZUELA’S VICE PRESIDENT FOLLOWING MADURO CAPTURE OPERATION
A U.S. State Department “wanted” poster for senior Venezuelan regime figure Diosdado Cabello Rondon, whom U.S. authorities have accused of ties to narcotics trafficking and narco-terrorism (U.S. State Department )
Cabello mobilizes loyalists
Diosdado Cabello, one of the most feared figures in the country, has emerged as a central player in the post-Maduro scramble for control.
Cabello, who wields influence over the ruling party and interior security, has been rallying armed colectivos and loyalist groups. Those groups have been active in the streets, detaining opponents and reinforcing regime authority through intimidation.
Sanctioned by the U.S. Treasury for corruption and alleged ties to drug-trafficking networks, Cabello is widely viewed as a figure capable of consolidating power through force rather than institutions.
Jorge Rodríguez holds the levers of control
Jorge Rodríguez, president of the National Assembly and brother of Delcy Rodríguez, remains one of the regime’s most important political operators.
Rodríguez has served as a key strategist for Maduro, overseeing communications, elections and internal coordination. Recent reporting indicates he continues to work closely with his sister to maintain control over intelligence and security structures, reinforcing the regime’s grip despite Maduro’s removal.
Experts say Rodríguez could play a central role in shaping any managed transition that preserves the system Maduro built.
TRUMP’S VENEZUELA STRIKE SPARKS CONSTITUTIONAL CLASH AS MADURO IS HAULED INTO US
U.S. State Department “wanted” posters show Venezuelan Defense Minister Vladimir Padrino López accused by U.S. authorities of conspiracy to distribute cocaine on board an aircraft registered in the U.S.
Padrino López
Defense Minister Vladimir Padrino López, long considered the backbone of Maduro’s survival, remains a critical figure as well.
While Padrino López has not publicly positioned himself as a successor, analysts note that the armed forces are no longer unified behind a single leader. Senior generals are split across competing factions, raising the risk of internal clashes or a shift toward overt military rule if civilian authority weakens further.
Beyond the power struggle among regime elites, Venezuela faces a broader danger.
Large parts of the country are already influenced by criminal syndicates and armed groups. As centralized authority weakens, those actors could exploit the vacuum, expanding control over territory and smuggling routes.
Experts warned that an uncontrolled collapse could unleash forces more violent and less predictable than Maduro’s centralized repression, and the events unfolding now suggest that risk is growing.
Venezuelan opposition leader Maria Corina Machado waves a national flag during a protest called by the opposition on the eve of the presidential inauguration, in Caracas on Jan. 9, 2025. (Juan Barreto/AFP via Getty Images)
Outside the regime, opposition leader María Corina Machado remains the most popular political figure among Venezuelan voters. But popularity alone may not be enough to translate into power.
Machado lacks control over security forces, intelligence agencies or armed groups. As repression intensifies and rival factions maneuver, her ability to convert public support into political authority remains uncertain.
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Police patrol in La Guaira, Venezuela, Saturday, Jan. 3, 2026, after U.S. President Donald Trump announced that President Nicolás Maduro had been captured and flown out of the country. (AP Photo/Matias Delacroix)
Maduro’s fall, analysts say, did not dismantle Venezuela’s power structure. It fractured it.
With armed loyalists in the streets, rival factions competing behind the scenes, and an interim leader struggling to assert authority, Venezuela now faces a dangerous period in which the aftermath of Maduro’s rule could prove more chaotic — and potentially more brutal — than what came before, experts say. For Venezuelans, the question is no longer whether Maduro is gone, but whether anything that replaces him will be better.
World
EU Commission examines childlike sexual images created by Musk’s AI
Published on
The European Commission has announced it is looking into cases of sexually suggestive and explicit images of young girls generated by Grok, the AI chatbot integrated into social media platform X, following the introduction of a paid feature known as “Spicy Mode” last summer.
“I can confirm from this podium that the Commission is also very seriously looking into this matter,” a Commission spokesperson told journalists in Brussels on Monday.
“This is not ‘spicy’. This is illegal. This is appalling. This is disgusting. This has no place in Europe.”
On Sunday, in response to growing anger and alarm at the images, the social media platform said the images had been removed from the platform and that the users involved had been banned.
“We take action against illegal content on X, including Child Sexual Abuse Material (CSAM), by removing it, permanently suspending accounts, and working with local governments and law enforcement as necessary,” the X Safety account posted.
Similar investigations have been opened in France, Malaysia and India.
The European Commission also referenced an episode last November in which Grok generated Holocaust denial content. The Commission said it had sent a request for information under the EU’s Digital Services Act (DSA), and that it is now analysing the response.
In December, X was fined €120 million under the DSA over its handling of account verification check marks and its advertising policy.
“I think X is very well aware that we are very serious about DSA enforcement. They will remember the fine that they have received from us,” said the EU Commission spokesperson.
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