Spain's new-car market continues to defy the European slump, recording its 6th consecutive month of growth in February 2025. While other major markets such as France, Germany, Italy, and the UK faced challenges and declines, Spain saw an 11% increase in registrations, totalling 90,327 deliveries. Economic factors contributing to Spain's resilience include positive economic indicators, an improved GDP, higher employment rates, and strong consumer confidence. Additionally, the Reinicia Auto+ plan, aimed at supporting those affected by floods in Valencia, significantly boosted February's figures. Without this plan, the growth would have been 5.8% instead of 11%. Spain's robust performance suggests it could remain the strongest new-car market in Europe, despite its smaller total volumes compared to other major markets. The country's ability to maintain positive trends amidst broader challenges highlights its unique position in the European automotive sector. As other markets struggle, Spain's automotive industry hopes to sustain its growth trajectory.
Stagecoach has announced it is set to deploy 57 electric buses in Derbyshire following the electrification of its Chesterfield depot by VEV. This project, partially funded by the ZEBRA 2 scheme, Derbyshire County Council, and Stagecoach, includes the installation of a 2.5MVA transformer and 27 dual 120kW chargers, capable of charging up to 54 buses simultaneously. Additionally, a solar panel array is being installed to generate approximately 200MWh of energy annually. The new electric buses will replace over two-thirds of Stagecoach's existing diesel fleet in Chesterfield and North-East Derbyshire. This initiative is part of a broader plan to electrify 4 depots, supporting a total of 150 electric buses across Chesterfield, Leamington, Nuneaton, and Rugby. VEV's support includes fleet analysis, infrastructure, power optimization, staff training, and operational assistance.
Stellantis Pro One and IVECO have announced they are partnering to introduce 2 fully electric IVECO-branded vans to the European market, set for launch in mid-2026. This collaboration aims to enhance IVECO’s EV lineup with mid-size and large vans, manufactured at Stellantis’ plants in Italy, Poland, and France. The partnership leverages Stellantis’ expertise in EV technology and IVECO’s distribution network. The 10-year agreement underscores a shared commitment to reducing carbon emissions and meeting the growing demand for eco-friendly commercial vehicles. The new vans, with gross vehicle weights ranging from 2.8 to 4.25 tons, will cater to diverse business needs, particularly last-mile logistics. This collaboration marks a significant step in the commercial vehicle sector, supporting sustainable mobility and aligning with Stellantis’ carbon net zero goal by 2038 and IVECO’s decarbonisation strategy.
BYD has unveiled a potentially game-changing battery system capable of charging an EV in just 5 minutes. In tests with its new Han L sedan, BYD's battery and charging system demonstrated the ability to deliver approximately 400km (249 miles) of range in 5 minutes. This breakthrough technology aims to significantly reduce charging times, making EVs more convenient and appealing to consumers. Interestingly, the new system utilises advanced lithium-ion batteries and cooling techniques to achieve ultra-fast charging without compromising battery life or safety. BYD's announcement marks a significant milestone in the EV industry, potentially accelerating the adoption of EVs globally. The company plans to integrate this technology into its upcoming models, enhancing the overall user experience and addressing one of the major barriers to widespread EV adoption. This development aligns with BYD's commitment to sustainable transportation and its goal to lead the market in clean energy solutions.
Lambeth Council has announced it is expanding its EV infrastructure by taking control of the borough's charging network. Currently, Lambeth has over 400 EV charging points, with plans to add 70 fast or rapid points and 264 lamppost charging points this year. This initiative aims to enhance accessibility and convenience for EV users, particularly those without off-street parking. The council's strategy includes installing various types of charge points, such as 7kW fast chargers and lower-power lamppost chargers. This expansion supports Lambeth's commitment to sustainable transport and reducing carbon emissions. By managing the network directly, the council aims to ensure a consistent and reliable charging experience for residents. Lambeth's proactive approach serves as a model for other boroughs, demonstrating how local governments can lead in promoting clean energy and supporting the transition to EVs.
Fortescue Zero has announced it is partnering with the ABB FIA Formula E World Championship as the Official Pit Boost Provider for Season 11. They introduced a groundbreaking 600kW ultra-fast Pit Boost technology that delivers a +10% battery boost in under 30 seconds. Powered by Fortescue’s Elysia software, the tech optimises speed and battery life, proving Formula E’s role as a testing ground for cutting-edge advancements. The Pit Boost system uses onboard energy storage, independent of grid limitations, and maintains battery integrity with a high-speed charging rate. Fortescue Zero’s technology debuted in Jeddah, Saudi Arabia, during Round 3 of Season 11 and will feature in races across cities like Monaco, Tokyo, and London. This collaboration highlights Formula E’s commitment to sustainable innovation, blending thrilling motorsport with tangible EV advancements.
Thailand is making a significant move to become a global leader in EV production with a $1bn investment from Sunwoda Automotive Energy Technology, a subsidiary of China's Sunwoda Electronic. This investment will fund the construction of EV and energy storage system battery cell manufacturing plants in Thailand’s Eastern Economic Corridor. This initiative aims to strengthen Thailand’s supply chain, support its growing EV manufacturing sector, and enhance its competitiveness in both domestic and export markets. The 1st factory, located in Chonburi Province, will produce lithium-ion battery cells, reducing reliance on imported components. The project is expected to create over 1,000 jobs, including positions for Thai engineers, fostering knowledge transfer in a critical industry. This development aligns with Thailand’s push toward sustainable energy and economic growth. Thailand's established reputation in the automotive industry, combined with EV-friendly policies like subsidies and tax incentives, has attracted major players such as BYD, SAIC Motor, and Great Wall Motor. Sunwoda’s investment further solidifies Thailand’s role in the global shift towards electrification.
NaaS Technology and Xiaomi Auto have partnered to enhance the smart EV charging ecosystem in China. This collaboration integrates NaaS's extensive charging network with Xiaomi Auto's platform, providing seamless and efficient charging solutions for Xiaomi EV owners. Users can access nearly 100,000 charging stations and 1.15 million chargers via the Xiaomi Auto App and in-vehicle systems. China's New Energy Vehicle (NEV) market has rapidly expanded, with over 31.4 million NEVs on the road by 2024. This partnership aims to meet the growing demand for reliable charging infrastructure, leveraging NaaS's AI-driven tools to optimise charging efficiency and station profitability. Xiaomi Auto, which has delivered over 135,000 vehicles since its 2024 launch, benefits from this network to enhance user experience and support sustainable mobility.
Deals
Nirvana, an AI-powered insurance platform for the trucking industry, has raised $80m in a Series C funding round, with a valuation of $830m. The funding was led by General Catalyst, with participation from Lightspeed Venture Partners and Valor Equity Partners. To build and manage insurance policies, Nirvana uses real-time driving telematics and over 20 billion miles of truck driving data. The new funds will be used to expand services for fleets and individual drivers. The company has seen significant growth, with premiums under management exceeding $100m, double from the previous year. The US trucking industry, which generated over $900bn in revenue in 2024, presents a substantial market opportunity for Nirvana. However, recent tariffs on goods from Mexico and Canada could impact the industry by increasing operational costs and reducing cross-border freight. Nirvana aims to leverage its AI technology to provide more precise pricing, enhance fleet safety, and optimise claims resolution, offering a fairer and more profitable approach for insurance carriers.
Mote Hydrogen has secured $7m the first close of its Series A funding round, led by Nella Next and Preston-Werner Ventures. This investment will help scale Mote's carbon-negative biomass-to-hydrogen technology, which converts agricultural and forestry waste into clean hydrogen while permanently sequestering CO2. The funding will be used to advance Mote's first commercial-scale facility, expand engineering capabilities, and accelerate strategic partnerships across the hydrogen, forestry, and energy sectors. The company aims to strengthen domestic supply chains and grid resilience while contributing to climate goals. This development aligns with the growing demand for sustainable energy solutions and the projected expansion of the global low-carbon hydrogen market.