BYD UK has announced it has partnered with QBE Automotive Protection to offer Extended Warranty and Service & Maintenance plans across its electric and plug-in hybrid lineup in the UK. These protection packages, available immediately through more than 125 authorised retailers by 2026, cover both unexpected repair costs and routine servicing. BYD’s full range, including battery-electric models such as the Dolphin Surf, Dolphin, Atto 2, and Sealion 7, as well as plug-in hybrids such as the Atto 2 DM‑I and Seal U DM‑I, is included under the agreement. Representing QBE Insurance Group, the provider brings extensive experience in automotive protection, aiming to support the specific needs of EV and PHEV owners. BYD UK emphasised that the partnership enhances customer support throughout the ownership journey, extending BYD’s commitment beyond the point of sale. QBE stated that their tailored warranties align well with BYD’s EV range. Interestingly, BYD is also reviewing the possibility of further service packages to enhance its after-sales offerings.
Geotab has released telematics data from over 22,700 EVs across 21 models, revealing that average battery degradation has risen to 2.3% per year, up from 1.8% in their 2024 study. This somewhat modest increase reflects a growing reliance on high-power DC fast charging. EVs that frequently use chargers delivering over 100 kW exhibit degradation rates c.3.0%, compared to c.1.5% for those predominantly charged via lower-power AC or DC. Interestingly, climate has a smaller effect; EVs operating in hotter regions degrade c.0.4% faster annually than those in milder areas. Despite concerns about intensive charging, battery performance remains robust. Degradation accelerates notably only when EVs consistently spend prolonged periods near a full or empty state of charge. Heavier daily usage adds c.0.8% more degradation per year, a trade-off that fleets often accept in exchange for increased productivity and a lower cost-per-mile. Geotab highlights that modern EVs are equipped with sophisticated battery management systems that protect lifespan by tapering charge rates and managing temperature. Fleet operators can optimise battery longevity by balancing charging strategies, using high-power charging only when necessary and leveraging lower-power options whenever feasible, without compromising vehicle availability. Telemetry-based state-of-health insights also support improved lifecycle management and financial forecasting.
The European Commission has released detailed guidance for Chinese EV exporters to submit price undertakings as an alternative to existing anti-subsidy tariffs, which range from 7.8% to 35.3%. This follows a definitive finding in October 2024 that Chinese EV manufacturers benefit from unfair subsidies. This marks a WTO-compliant pathway to resolve the ongoing dispute through mutually acceptable pricing agreements rather than punitive duties. The guidance, stemming from consultations between the Commission and China’s Ministry of Commerce, outlines expectations for minimum import price commitments, clarified product scope definitions, annual volume thresholds, and transparent distribution channel disclosures. Exporters are encouraged to propose robust frameworks addressing risks of cross-compensation and potential future investments in the EU. All submissions, whether individual or collective, will be evaluated objectively and non-discriminatorily under EU anti-subsidy regulation, with strict WTO alignment. Offers deemed sufficient must neutralise the injurious impact of subsidies, be practical for enforcement, minimise circumvention potential, and align with broader EU policy goals. Failure to comply with commitments would trigger withdrawal of the undertaking and retrospective tariffs. Chinese authorities and exporters, including the China Chamber of Commerce to the EU, have welcomed the announcement as fostering trade stability and supporting industrial supply chain confidence. The Commission will formally assess each offer through an implementing decision subject to member state approval.
Polestar has reported a strong rebound in its vehicle sales during Q4 25, delivering 15,608 cars, a 27% increase from Q3 25, and thus reaching a total of 60,119 vehicles sold for the year. Much of this growth stemmed from a strategic pivot toward Europe, which now represents c.78% of the company’s sales. This shift comes amid softer demand in America due to tariffs, the sunset of EV tax credits, and growing competition. Furthermore, Polestar has also changed its sales model, reducing its focus on online direct-to-consumer sales in favour of a traditional dealer-led approach. This included closing all 30 of its retail outlets in China and expanding its dealer network in Europe by around 50%. Restructuring operations and supply chains, redirecting production to Europe and South Korea, helped mitigate the impact of the USA tariffs. However, despite the sales rebound, Polestar continues to face financial pressures. Heavy debt, persistent losses, and declining stock value prompted a reverse stock split to avoid delisting from NASDAQ. The company has relied on its majority owner, Geely, for funding; in December, it secured up to $900m in financing from Geely and 2 European banks. Polestar also plans a product update and will provide a revised financial outlook on February 18th.
bp pulse has announced it has partnered with Columbia Threadneedle Real Estate to install rapid and ultra-fast EV chargers at 14 UK retail parks. This initiative, launched at Lyons Farm in Worthing, positions high-speed charging stations at popular shopping and leisure destinations, making EV (re)charging convenient. Future sites will include Castle Marina Retail Park (Nottingham), Fountains Retail Park (Tunbridge Wells), and Jubilee Retail Park (Weymouth). Each ultra-fast location will feature up to 10 charging bays, while rapid sites include 2 bays, catering to varying driver needs. bp pulse noted that integrating EV infrastructure into routine retail visits will enhance driver experiences. Columbia Threadneedle’s Asset Manager emphasised that this rollout supports their wider sustainability strategy and furthers their commitment to reaching net-zero emissions across their UK property portfolio by 2050. This project marks an important step in expanding accessible, high-capacity EV charging networks within urban environments. By embedding charging infrastructure into everyday consumer venues, it promotes sustainable travel and supports the growth of EVs across the UK.
Uniper and AM Green Ammonia India have announced they have entered into a long-term binding agreement for Uniper to offtake up to 500,000 tons annually of renewable ammonia, certified as a Renewable Fuel of Non‑Biological Origin (RFNBO). The deal is stated to be one of the 1st large-scale green ammonia supply corridors between India and Europe. The inaugural shipment is expected in 2028 from AM Green’s first 1 MTPA facility under construction in Kakinada, Andhra Pradesh. This milestone aligns with India’s National Hydrogen Mission and is a significant step in the country's ambition to become a leading exporter of green hydrogen and ammonia. For Uniper, the contract diversifies its portfolio of renewable and low-carbon molecules for European customers. Renewable ammonia serves as both a hydrogen carrier and a low-carbon feedstock, thus offering a pathway to decarbonise heavy industries such as chemicals, fertilisers, refining, and shipping. The agreement was formalised in the presence of German Chancellor Friedrich Merz and Indian PM Narendra Modi, underlining its geopolitical significance. Both companies will collaborate with certification bodies to ensure traceability and compliance with EU RFNBO standards, reinforcing transparency and integrity in the supply chain.
The UK Department for Transport has announced it has introduced an extra £18m boost to the Plug‑in Truck Grant, thus reducing the upfront cost of new electric lorries by up to £120,000. This funding, available until March 2026, is part of a broader £318m green freight initiative designed to lower operating costs, cut emissions, and stimulate growth and investment in the haulage sector. Discounts now vary by vehicle weight: up to £20,000 for small trucks (4.25–12t), £60,000 for mid-sized units (12–18t), £80,000 for larger trucks (18–26t), and a maximum of £120,000 for those +26t. Minister for Aviation, Maritime, and Decarbonisation Keir Mather highlighted that this move makes electric lorries more affordable, supports hauliers transitioning to greener fleets, and provides industry certainty. The government has also launched a consultation on a roadmap to phase out non-zero-emission heavy goods vehicles by 2040, aiming to give businesses clarity for future planning. This initiative joins earlier efforts such as the £120m in funding for vans, taxis, and motorbikes under the zero‑emission heavy goods vehicle and infrastructure demonstrator (ZEHID) programme, which has already introduced nearly 300 electric HGVs. Major logistics firms, including Amazon and M&S, have begun deploying electric trucks, showcasing the sector’s shift toward cleaner transport.
EVgo has announced it has expanded its partnership with Kroger to install at least 150 new fast-charging stalls annually at Kroger Family of Stores nationwide through 2035. The 1st location under the expansion is already operational in Salt Lake City, Utah. Sites may receive up to 16 high-power stalls per location, designed to deliver a full charge in c.15 minutes, thus matching the typical duration of a grocery visit. The rollout covers multiple banners, including Kroger, Fred Meyer, Fry’s, King Soopers, and Smith’s Food and Drug, across states such as Arizona, California, Florida, Georgia, Texas, and Washington. Bear in mind, EVgo currently operates over 4,600 fast-charging stalls in 47 states, with plans to bring the total to more than 15,000 by the end of 2029. EVgo emphasised that adding high-speed chargers at grocery locations provides EV drivers with convenience and aligns with consumer shopping behaviour. Retail-installed chargers not only enhance the charging landscape but also drive foot traffic and customer spending at nearby businesses, according to research. This expansion originated from a partnership that was first launched in 2022, reinforcing EVgo’s strategy of embedding charging infrastructure in everyday community hubs.
GreenPower Motor Company has announced it is establishing its USA HQ and North American manufacturing facility in Santa Teresa, New Mexico, on a 135,000-square-foot site. This expansion is expected to create more than 340 permanent jobs and deliver c.$200m in economic impact over the next decade. To support the project, New Mexico has committed $14.61m in incentives, including a $5m Local Economic Development Act award to stimulate job creation, $4.6m from the Job Training Incentive Program to develop a skilled workforce, $3.65m in High-Wage Jobs Tax Credits for well-paying positions, and $1.36m in Rural Jobs Tax Credits to boost employment in the region. Rather interestingly, Santa Teresa’s designation as a Foreign Trade Zone was a key factor in GreenPower’s decision, offering streamlined customs processes and cost-efficient trade logistics. GreenPower, headquartered in Vancouver with additional facilities in California and West Virginia, specialises in purpose-built, all-electric medium- and heavy-duty commercial vehicles. The company will provide Class 4 electric models, such as box trucks, refrigerated trucks, passenger vans, buses, utility trucks, and stakebed trucks, at dealer-level pricing in New Mexico. Additionally, GreenPower launched the state’s 1st all-electric school bus pilot program in 2025, supporting New Mexico’s Energy Transition Act goal of achieving 100% zero-carbon electricity by 2045.
Deals
Corgi, a San Francisco-based insurtech startup, has raised $108m in a funding round. Investors such as Y Combinator, Kindred Ventures, Contrary, Leblon Capital, Glade Brook Capital and Seven Stars participated. The startup obtained full regulatory approval in mid-2025, thus allowing Corgi to officially launch as the 1st AI-native, full-stack insurance carrier tailored for startups. As a fully licensed underwriter, the company manages the entire policy lifecycle, from underwriting, pricing, claims, issuance, and administration, via proprietary AI systems engineered for speed and agility. Since its launch, Corgi has surpassed $40m in annual recurring revenue, thus signalling strong demand from fast-growing, venture-backed companies. Its advanced AI infrastructure enables instant quoting, pricing, and coverage adjustments in real time, replacing traditional manual and broker-led insurance models. Coverage options include directors & officers, errors & omissions, cyber, commercial general liability, hired/non-owned auto, fiduciary, and AI-specific liability, selectively structured to match the evolving risk profiles of tech startups. The newly raised capital will fuel the expansion of product offerings, scaling of distribution channels, and continued enhancement of AI capabilities in underwriting, claims processing, and policy operations.