Tesla has announced it is navigating a challenging period as sales of its EVs decline for the second consecutive year, with BYD surpassing it in annual deliveries for the first time. This downturn stems from rising global competition, the expiration of US EV tax credits, and consumer backlash linked to Mr. Musk’s political activity. However, despite these setbacks, Tesla still retains strong investor confidence, buoyed by a shift in focus toward autonomous driving and robotics as its next major growth drivers. The company now positions itself as evolving from traditional manufacturing to what it calls a physical AI company. It plans to invest heavily, more than $20bn this year, in technologies underpinning its robotaxi ambitions and its humanoid Optimus robot. As part of this transition, Tesla is discontinuing its long-standing Model S and Model X vehicles to free production space for robotics development. While Tesla’s robotaxi plans highlight a future of autonomous mobility, progress has been slower than Musk previously projected. The Optimus robot, once expected to be widely deployed internally, remains in R&D. Even so, investors view these long-term initiatives as central to Tesla’s strategy to offset weakening EV demand and redefine its identity around autonomy, AI, and advanced robotics.
The Development Bank of Wales has announced it is supporting a new JV aimed at expanding EV charging infrastructure through a £2.18m investment. This initiative brings together public and private partners to accelerate the rollout of reliable, accessible EV charging across Wales, addressing growing demand as more drivers transition to electric mobility. The JV plans to develop a large-scale network of charging hubs, targeting both urban and rural areas to ensure nationwide coverage. Funding will support the installation of rapid and ultra-rapid chargers, helping reduce range anxiety and encourage wider EV adoption. The project aligns with Wales’s broader decarbonization goals and aims to stimulate economic growth through job creation and infrastructure development. By backing this venture, the Development Bank of Wales plays a key role in enabling long-term investment in green technology while supporting the country’s transition to cleaner transport.
Hyundai Mobis has announced it has secured $9.17bn in global orders in 2025, surpassing its original target by 23% and marking a strong performance despite a challenging EV market. Growth was driven primarily by large-scale electrification component contracts, including Battery Systems Assembly units and chassis modules supplied to major automakers in North America and Europe. These component categories typically involve long-term agreements, often extending 10 to 20 years, due to the need for joint investment in production and logistics systems. The company also strengthened its position in high-value electronic components, winning orders for advanced Human-Machine Interface systems and expanding its supply of premium automotive sound systems. These wins reflect Hyundai Mobis’s ongoing investment in next-generation technology and its strategy to diversify revenue streams. Emerging markets played a notable role in the company’s expansion. Hyundai Mobis increased orders for braking, steering, and safety systems in China and India, benefiting from tailored component strategies that align with the rising market share of local automakers. Looking ahead, Hyundai Mobis has set an ambitious global order target of c.$11.84bn for 2026, 30% higher YoY, supported by a continued focus on electrification, electronic components, and deeper collaboration with international customers.
Germany has announced it has launched a €220m national funding call to accelerate the rollout of hydrogen refueling stations and hydrogen-powered heavy-duty trucks. This program aims to establish an initial nationwide network by supporting the construction of up to 40 hydrogen stations and the deployment of as many as 400 trucks. Designed to break the long-standing infrastructure-vs-vehicle chicken-and-egg barrier, the scheme funds combined packages that pair new refueling stations with hydrogen truck procurement to ensure immediate utilization and reliable access for fleet operators. Eligible projects must align with EU Alternative Fuels Infrastructure Regulation requirements, including placement along key transport corridors and the ability to serve both heavy- and light-duty vehicles. Subsidies can cover a significant share of investment costs for stations and hydrogen vehicles. Germany sees the initiative as a critical step in advancing zero-emission freight transport, strengthening industrial transition, and supporting broader clean-mobility goals.
The Met Office has released data indicating that the UK experienced a record-breaking climate year in 2025, marking both its warmest and sunniest year since national observations began. Almost every month exceeded long-term temperature averages, with January and September as the only exceptions. Spring 2025 set new records as the warmest and sunniest on record, while summer also reached unprecedented heat levels. Persistent high-pressure systems during spring and summer contributed to prolonged warm, dry conditions, resulting in the driest spring since 1974. Despite this, wetter weather later in the year helped bring the annual rainfall total to c.90% of the long-term average. Human-driven climate change played a major role in these extremes. The Met Office analysis suggests that the likelihood of experiencing a year as warm as 2025 has increased dramatically, transforming what would once have been a rare event into one expected every few years. Severe weather events also punctuated the year: Storm Eowyn in January brought the strongest winds in more than a decade, Storm Floris impacted Scotland in August, and Storm Amy produced widespread heavy rainfall in October. Overall, 2025 stands as a striking example of the accelerating effects of climate change on the UK’s weather patterns, highlighting increasing heat, sunshine, and variability in rainfall.
Polestar has announced it has secured a $400m equity investment as part of its effort to strengthen liquidity amid slowing global demand for EVs and ongoing financial pressure. The new capital comes from Feathertop Funding Limited, a special-purpose entity backed by major financial groups, and follows earlier financing rounds completed in December. Those previous measures included a $300m equity infusion from European banks and a $600m loan facility provided by its majority owner, Geely. Together, these funding steps aim to stabilize Polestar’s balance sheet and extend the company’s financial runway. The fresh investment arrives at a time when Polestar, like many EV startups, is facing cash burn, tightening capital markets, and concerns about breaching debt covenants. The company has been renegotiating terms with lenders to maintain compliance while navigating slower-than-expected vehicle sales. Despite these challenges, Polestar is working to expand its product lineup and regain momentum, with models such as the Polestar 2 and Polestar 3 already in the market and additional vehicles planned. Leadership emphasizes that these financing efforts, combined with continued support from Geely, are designed to help Polestar weather the broader industry downturn and position the brand for long-term growth in an increasingly competitive EV landscape.
Deals
DeepWay, a Chinese trucking technology startup, has raised c.$173m in a pre-IPO funding round ahead of its planned listing in Hong Kong. The investment round drew participation from backers such as ABC Impact, Lenovo Capital, Puhua Capital, and Sunwoda Electronic. DeepWay develops assisted-driving systems and freight solutions for heavy-duty electric trucks. The company also counts Baidu among its early investors. DeepWay filed for its Hong Kong IPO in November and has rapidly grown within China’s commercial trucking technology sector. Despite generating revenue of 1.5 billion yuan in H1 25, the company has not yet reached profitability, according to its prospectus. The newly secured funding is expected to support further scaling of DeepWay’s autonomous and electric-truck technology, strengthen its product deployment, and enhance its competitive position ahead of entering public markets. With increasing interest in electrification and autonomous freight transport, DeepWay’s latest fundraising underscores investor confidence in the company’s potential within China’s heavy-duty logistics sector. The capital injection provides momentum as the company prepares for its upcoming Hong Kong IPO.
Emobi, a San Francisco–based EV charging provider, has raised $3.4m in funding to accelerate the rollout of its JustPlug charging platform, which aims to simplify EV charging for property owners and drivers. The company focuses on offering a hardware-agnostic solution that allows businesses, such as hotels, multifamily residences, and commercial properties, to install and manage charging infrastructure without high upfront costs or complex technical requirements. JustPlug provides automated payment processing, remote monitoring, and real-time performance analytics to reduce operational burdens. Emobi plans to use the new capital to expand deployment across North America, enhance its software capabilities, and grow its partner network. By enabling easier access to charging infrastructure, the company hopes to support broader EV adoption and address gaps in the current charging ecosystem. The funding will also help scale its service teams and further optimize its vertically integrated platform for reliability and user convenience.
Jiuzi Holdings has secured a $30m investment to accelerate its expansion of EV charging infrastructure and new-energy service networks across Southeast Asia. Through a cooperation agreement with Xinhui Solar Technology Group, the funding will support both equity investment and co-development initiatives aimed at building integrated charging stations, service systems, and corridor-wide networks in major urban and transport hubs. The partnership leverages Xinhui Solar’s strong regional presence, operational experience, and local market channels, enabling Jiuzi to scale more rapidly and strengthen its competitiveness in the region’s growing clean-mobility sector. The companies plan to roll out infrastructure in phases, targeting long-term development of a benchmark EV mobility platform to meet rising demand driven by decarbonization policies and increasing EV adoption. Jiuzi sees the collaboration as a key step in deepening its overseas expansion, enhancing brand influence, and positioning itself for growth in Southeast Asia’s evolving EV ecosystem.
Plug, a Santa Monica–based marketplace built specifically for buying and selling used EVs, has secured $20m in Series A funding, led by Lightspeed. This will help it accelerate its expansion amid a rapid surge in off-lease EVs entering the US market. Plug has already facilitated more than $60m in used EV transactions, with Q4 25 sales alone surpassing its entire 2024 volume, reflecting fast-growing demand for accurate EV valuation and efficient resale channels. The startup plans to use the new capital to strengthen its supply pipeline, develop proprietary technology for assessing EV condition and battery health, and scale operations across wholesale and retail markets. As over 1.1 million EV lease returns, worth billions of dollars, are expected to hit the market in the next three years, Plug positions itself as essential infrastructure for dealers overwhelmed by the unique complexities of valuing and processing EV inventory. Its platform leverages real-time pricing signals, VIN-level data, and battery intelligence to generate rapid offers, typically within 24 hours, reducing risk for the 600+ dealers already using the service.