Author: Harding Greenwood

Tesla reported a modest 1% increase in total revenue for 2024, reaching $97.7 billion, as the electric vehicle maker faced slowing growth in its core automotive business. The company’s expansion was primarily driven by a surge in energy and service revenues, offsetting a decline in vehicle-related earnings. Total automotive revenue fell 6% year-over-year to $77.1 billion, marking the first time since 2020 that Tesla reported lower vehicle revenue compared to the previous year. In contrast, the company’s energy business grew by 67% to $10.1 billion, while service and other revenues rose 27% to $10.5 billion. Tesla’s net profit for the…

Swedish micromobility operator Voi reported its first profitable year in 2024, with €132.8 million ($138 million) in net revenue and an adjusted EBIT profit of around €100,000 ($104,000), according to preliminary results. The company credited cost-cutting measures and operational efficiencies for its improved financial performance. “Now we’re starting to show real cash positive financials and EBIT profitability,” said CEO Frederik Hjelm, noting that Voi has strengthened its position in a competitive industry. “We’re getting to a place where we’d be a good candidate for the public markets in, say, two to three years from now.” See also: Segway GT3 Pro…

UVeye, a startup specializing in AI-driven vehicle inspection technology, announced on Wednesday it has secured $191 million in debt and equity funding to expand production in North America and Europe. The company raised $41 million in a funding round led by Woven Capital, the investment arm of Toyota, while asset management firm Trinity Capital structured a $150 million debt facility. With this latest investment, UVeye’s total capital raised has reached $380.5 million. See also: Enapi Secures €7.5 Million in Seed Funding to Simplify EV Charging Connectivity Based in Teaneck, New Jersey, UVeye utilizes external scanners to conduct rapid vehicle inspections,…

Volvo Cars has signed an agreement to acquire Swedish battery maker Northvolt’s stake in their joint venture, NOVO Energy, the automaker said on Wednesday. The financial terms of the deal were not disclosed. The agreement marks a significant step for Volvo Cars as it seeks to secure the future of its planned battery factory in Gothenburg, Sweden. The two companies formed NOVO Energy in 2021 to develop the facility, but Northvolt’s financial struggles, including its recent bankruptcy protection filing, have complicated the venture. See also: Northvolt Shareholders Back Operations Amid Restructuring Efforts In October, Volvo Cars announced its intention to take…

The Basel police have decided to keep the seven Tesla electric vehicles they have been using since 2019 for longer than initially planned. The decision comes after tests revealed that the electric cars are more durable in police operations than expected, showing less wear and tear compared to traditional combustion-engine vehicles. See also: UK Police Seize Tesla Cybertruck Due to Legal and Safety Concerns “The initial plan was to replace them by the end of 2025. However, tests have shown that longer use is also possible,” said Rooven Brucker, a police spokesperson, in an interview with BZ Basel. Initially, the…

Tesla has officially expanded the faster charging speeds for its Cybertruck to all V4 Supercharging stalls, providing a significant boost in charging capabilities for the electric vehicle (EV). This move follows the initial rollout of quicker charging speeds last month, which was first piloted at select sites with V3 cabinets. In a post on X on Monday evening, Tesla’s Charging account confirmed that all V4 Supercharging posts now enable Cybertruck owners to charge at speeds of up to 325 kW. This is a significant improvement over the previous charging speeds. The company also announced plans to deploy V4 charging cabinets…

General Motors (GM) expects to save up to $1 billion annually following its decision to halt the development of its Cruise robotaxi program, CEO and Chair Mary Barra stated during the company’s earnings call on Tuesday. The move, which was announced two months ago, involves the company ceasing funding for Cruise, its self-driving subsidiary that had been working on commercializing autonomous taxis. “GM has proposed a restructuring plan that will refocus our autonomous driving strategy on personal vehicles,” Barra explained, emphasizing that the company anticipates significant savings with the end of robotaxi development. GM’s CFO, Paul Jacobson, clarified that these…

Honda aims to launch a small electric vehicle (EV) priced below $30,000 in North America as early as 2026, Japan’s Nikkei newspaper reported on Tuesday, as the automaker accelerates efforts to compete in the rapidly evolving battery-powered car market. The affordable model, part of Honda’s upcoming “Honda 0 Series” EV lineup, will be produced locally in North America, the Nikkei said. Honda has previously stated the 0 Series will debut globally, starting in North America, as part of its broader strategy to transition entirely to battery-powered and fuel-cell vehicles by 2040. See also: Honda and Acura to Access Tesla’s Supercharger…

General Motors (GM) has sent three HYDROTEC hydrogen-powered gensets to the Los Angeles area to support electric vehicle (EV) drivers and emergency vehicles impacted by the recent wildfires in California. The deployment is part of GM’s efforts to aid recovery and provide mobile power solutions for those affected. Alongside the hydrogen gensets, GM is also providing several other mobile charging options to Californians, including a trio of Yoshi Mobility propane-powered chargers, capable of DC fast charging two EVs simultaneously, and a biofuel-powered mobile charging station from InCharge that can charge up to five EVs. See also:  GMC Hummer EV Set…

Tesla’s Full Self-Driving (FSD) software has been the subject of intense scrutiny for years, and a recent exchange on social media has brought the debate to the forefront once again. A user, James Wang, who is both a long-term Tesla shareholder and a critic of Tesla’s autonomy capabilities, claimed that Tesla’s FSD is “not remotely close to Waymo,” estimating that it is “at least 100x” behind the autonomous driving platform. Despite this, Wang acknowledged that Tesla has an edge in terms of geographic coverage, given Waymo’s limited operations in specific areas. See also: Tesla Rolls Out FSD v13.2.4 Update for…

Audi has showcased an off-road concept of its Q6 e-tron, featuring advanced portal axles and an elevated design intended to take the SUV’s capabilities to new heights. The German automaker released photos of the rugged electric vehicle on LinkedIn, teasing its debut in a snow-covered landscape while emphasizing “intelligent performance” and “progress electrified.” See also: Volkswagen Weighs Relocating Audi Q4 e-tron Production from Zwickau to Chattanooga While Audi refrained from providing technical specifications, the off-road concept is likely based on the standard Q6 e-tron quattro, equipped with dual motors producing 285 kW and a 100 kWh battery capable of DC…

Saudi Aramco and the Saudi Arabian Mining Company (Ma’aden) have signed a letter of intent to form a joint venture aimed at developing lithium extraction in the Kingdom, with commercial production targeted to commence by 2027, pending regulatory approvals. The partnership seeks to explore and extract minerals critical to the energy transition, with a focus on lithium, a key component in batteries for electric vehicles and renewable energy storage. The proposed venture also aims to develop cost-efficient direct lithium extraction (DLE) technologies. Aramco highlighted its ambition to broaden its expertise into adjacent sectors. “This announcement reflects Aramco’s focus on positively…

Kia has confirmed that its first-party NACS (North American Charging Standard) adapters are ready for shipment to dealerships. However, owners will need to wait until later this quarter to use them on Tesla Superchargers. With the growing rollout of Supercharger access to non-Tesla brands, several carmakers, including VW and Honda, have announced that they will soon gain access to the network. For now, most electric vehicles will need an adapter to charge on Tesla Superchargers, as most manufacturers are not adding native NACS ports to their vehicles yet. The 2025 Kia EV6 and Hyundai Ioniq 5 are among the exceptions,…

Tesla China has rolled out a new promotion for its domestic customers in celebration of the upcoming Chinese New Year. As part of the festivities, the electric vehicle manufacturer is offering a 30-day free trial of its Enhanced Autopilot (EAP) system, a popular advanced driver-assist feature, to compatible Tesla vehicles across the country. According to Tesla China’s announcement on Weibo, the trial, which began on January 24, 2025, allows eligible vehicles to access EAP at no cost for 30 days. See also: Tesla Debuts Model Y “Juniper” in China Showrooms In addition to the core EAP features, such as automatic…

A new German research initiative, RELIBRE, is exploring the use of computed tomography (CT) technology to assess how usage and ageing impact lithium-ion batteries, with the goal of advancing second-life applications. The project, led by a consortium of industry and academic experts, seeks to analyze correlations between battery wear and usage through advanced imaging and statistical methods. See also: Germany Establishes Battery Startup Incubator to Bolster Technological Sovereignty The RELIBRE project, short for “Re-use of battery cells: CT analysis of lithium-ion batteries to assess function- and safety-critical characteristics for the second life phase,” focuses on understanding the changes that occur…

Electric vehicle maker Rivian  is set to introduce hands-free driver assistance systems in 2025, followed by more advanced “eyes-off” capabilities in 2026. The planned upgrades mark the company’s latest effort to enhance its autonomous driving technology as the industry intensifies its focus on innovation. The company’s current Gen 2 vehicles feature the “Rivian Autonomy Platform,” which provides driver assistance but requires continuous attention and manual control. See also: Rivian Tests Snow Mode in R1T and R1S at Select Winter Resorts These developments come amid heightened regulatory scrutiny of advanced driver assistance systems, as leading automakers expand their focus on self-driving…

Jaguar Land Rover (JLR) has confirmed that an electric version of the Land Rover Defender will not be introduced for the current-generation model. Despite the growing demand for electric vehicles (EVs), electrifying the current Defender platform presents significant challenges that the British automaker is not willing to compromise on. The Defender, currently in its L66-generation since 2019, is available with various petrol and diesel engine options, including a four-cylinder plug-in hybrid. The growing popularity of luxury EVs, such as the electric Mercedes-Benz G580, might make an electric Defender a tempting prospect, but according to JLR’s Chief Commercial Officer, Lennard Hoornik,…

Renault has started accepting orders for the Renault 5 E-Tech Electric, a fully electric supermini recognized as the European Car of the Year 2025. Public sales will begin on January 29, 2025, with prices starting at £22,995, and the first UK deliveries are expected in Spring 2025. R Pass members can place early orders and access up to three years of complimentary servicing when financing the vehicle through Mobilize Financial Services before March 31, 2025. See also: Renault Expands Renault 5 E-Tech Electric Lineup with New ‘Urban Range’ Battery Financing options include 0% APR plans starting at £182 per month…

London-based research firm Brand Finance has released its 2025 Brand Finance report, ranking the world’s leading automotive brands. Toyota emerged as the most valuable brand in the sector, while electric vehicle maker Tesla dropped to fourth place. According to the report, Toyota’s brand value was estimated at $64.7 billion, maintaining its position at the top of the automotive rankings. Tesla’s brand value, meanwhile, declined by over 26% year-over-year, falling from $58.3 billion in early 2024 to $43 billion in early 2025. This decline allowed Mercedes-Benz and the Hyundai Group to surpass Tesla in the rankings. See also: U.S. EV Sales…

Volvo Cars has revealed the U.S. pricing for its new 2025 EX30 and EX90 electric SUVs, marking significant steps in its electrification strategy. The EX30, the company’s smallest and most affordable EV, will start at $44,900, while the EX90, its first three-row electric SUV, is priced from $79,995. The EX30, already a bestseller in Europe with nearly 100,000 units sold in 2024, is set to arrive in the U.S. by late 2024. The Twin Motor Performance variant of the EX30 boasts 422 horsepower, accelerates from 0 to 60 mph in just 3.4 seconds, and offers a range of up to…