Author: Andy Williams

Octopus Electric Vehicles has expanded its financing arrangements with Lloyds, Morgan Stanley and Crédit Agricole CIB, bringing its total pool of EV funding to £2 billion as the company prepares to scale its fleet in the UK and Europe. The announcement, made at COP30 in Brazil, builds upon the major funding line agreed with Lloyds in 2023, with the two additional lenders now backing Octopus EV’s next stage of growth. See also: Monta Partners With Octopus Electroverse to Streamline Fleet and Workplace EV Charging The company plans to increase its UK fleet from 40,000 to more than 75,000 electric cars…

Mercedes-Benz will establish its first research and development centre in Hungary, expanding its engineering footprint with a new facility dedicated to prototype testing and early-stage hardware and software development, the Hungarian government said on Thursday. Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó, announced that the German automaker will invest around €55 million (HUF 21.6 billion) in the project, located at Mercedes’ plant in Kecskemét. He added that the investment will be supported by HUF 4.3 billion (€11 million) in government funding. Although Mercedes has not detailed the full scope of operations, Szijjártó said the centre will involve “the…

Wallbox has introduced the Supernova PowerRing, a modular DC fast-charging system capable of delivering up to 400 kW per outlet and 720 kW per site, aimed at supporting public and semi-public charging infrastructure. The system is designed to enable dynamic power sharing and scalable operation across multiple units, allowing operators to adapt to varying site requirements. According to Wallbox, the PowerRing connects several Supernova chargers within a unified network that distributes power dynamically between outlets. Each configuration can include up to three Supernova units and six charging points, with available installed capacities of 240 kW, 480 kW, or 720 kW.…

Liontown Resources said on Wednesday it has entered into a partnership with German digital commodities platform Metalshub to conduct online auctions for spodumene concentrate produced at its Kathleen Valley lithium project in Western Australia. Shares of the Australian lithium miner rose as much as 5.7% to A$1.31, their highest level since mid-2024, outperforming a 0.2% gain in the broader S&P/ASX 200 index. See also: Liontown Resources Revises Lithium Pricing with Tesla, Renegotiates Deal with Ford Amid EV Market Slowdown The collaboration is designed to digitalize and streamline spot sales while promoting market-linked pricing as the lithium sector increasingly adopts auction…

Wuling is preparing a new variant of its Binguo S electric vehicle, featuring a 52.9 kWh battery pack and a CLTC-rated range of 525 kilometres, according to a filing from China’s Ministry of Industry and Information Technology (MIIT). The model will compete with vehicles such as the MG4, also owned by SAIC. No official launch date has been disclosed. The Binguo S is a compact EV with dimensions of 4,265 mm in length, 1,785 mm in width, 1,600 mm in height, and a wheelbase of 2,610 mm. Exterior styling includes a closed front grille, polygonal headlight clusters with “C”-shaped daytime…

Tesla has rolled out new financing and lease incentives for the Model Y and Model 3, including reduced interest rates and free upgrade options, as part of efforts to stimulate sales in an increasingly competitive electric vehicle market. The company said the annual percentage rate (APR) for financing has been cut by more than half to 1.99% for a 72-month term, with Model Y monthly payments starting at $638. Lease pricing has also dropped, with the Model Y Premium RWD now available from $479 per month on a three-year lease with a $3,000 down payment. See also: Tesla Delays Next-Gen…

Marin Bikes has entered the electric gravel bike market with the launch of the Lombard E, its first e-gravel series, available in two variants — the Lombard E1 and Lombard E2. Both models feature a Bosch SX Sprint motor, a full carbon fork, and an integrated 400 Wh PowerTube battery. According to Marin, the new Lombard E is designed to deliver “a smooth and comfortable ride even on rough terrains,” thanks to its aluminum frame paired with the carbon fork. The company said both models share the same frame design but differ in drivetrain and equipment. See also: Decathlon Launches…

Honda Motor has outlined its next-generation electrified vehicle technologies at its latest Automotive Technology Workshop, unveiling platforms that will underpin new hybrid and electric models in the second half of the 2020s. The developments form part of the company’s broader strategy to achieve carbon neutrality and eliminate traffic fatalities by 2050. A key component of Honda’s plan is a new mid-size hybrid platform that reduces vehicle weight by 90 kilograms while introducing a modular structure allowing over 60% parts commonality across future models. See also: Honda Cuts Annual Profit Forecast by 21% Amid One-Time EV Costs, Weak Asia Sales, and…

Honda Motor on Friday slashed its full-year operating profit forecast by 21% to 550 billion yen ($3.65 billion), hurt by one-time electric vehicle costs, declining sales in China and other Asian markets, and a shortage of parts equipped with Nexperia chips. The revised figure is down from the 700 billion yen projected earlier for the year through March 2026. For the first half of the current financial year, Honda’s automobile division reported an operating loss, largely due to 224 billion yen in one-time expenses related to its electric vehicle business. The automaker also scaled back its global EV sales ratio…

Redwood Materials has started operations at its new 600-acre campus in Berkeley County, South Carolina, marking a major step in expanding domestic recovery and refining of key battery materials including lithium, nickel, cobalt, and copper. The company said the facility will initially add 20,000 metric tonnes of annual materials production. “This is a small but significant start toward what will become one of the world’s largest recovery, refining, and manufacturing campuses,” Redwood stated. See also: Redwood Materials Raises $350 Million to Power AI Data Centers with Repurposed EV Batteries The so-called “Battery Materials Campus,” first announced in 2022, is part…

BC Hydro has expanded its public electric vehicle (EV) charging network to more than 700 ports across British Columbia after taking over 28 sites from the provincial Ministry of Transportation and Transit. The move is expected to add 88 new charging ports, including both fast and Level 2 chargers, by the end of 2025. The newly transferred locations are positioned at highway rest stops and major travel corridors, with integration into BC Hydro’s energy-based pricing model approved by the B.C. Utilities Commission. Of the 88 new ports, 33 are fast chargers rated at 50 kilowatts, 16 are 25-kilowatt fast chargers,…

Tesco has placed an order for 750 Maxus eDeliver 9 fully electric vans, marking the largest single electric vehicle order to date for Harris Maxus UK. The new fleet will begin arriving in February 2026, expanding on the 232 units already integrated into Tesco’s home delivery network earlier this year. The latest order involves the chassis cab version of the eDeliver 9, which will be fitted with refrigeration units supplied by Thermo King and GAH. The vehicles will serve Tesco’s grocery delivery operations, providing zero-emission last-mile logistics as the retailer continues its transition toward a fully electric fleet. See also:…