Rivian has announced it has achieved its first full year gross profit in 2025, marking a significant financial milestone for the EV OEM after years of losses. The company reported $144m in consolidated gross profit for the year, reflecting a dramatic $1.3bn improvement from the previous year’s gross loss. This turnaround was driven largely by robust growth in software and services revenue, which surged 222% YoY to $1.56bn. A key contributor to this growth was Rivian’s JV with Volkswagen Group, which provided significant income through vehicle electrical architecture and software development services. Additional revenue also came from vehicle remarketing and repair services. Despite this progress, Rivian’s core automotive operations remained unprofitable. Automotive gross profit for 2025 was negative, impacted by a steep decline in regulatory credit sales, expiring tax credits, and lower average selling prices. The company delivered 42,247 EVs and produced 42,284 units during the year, while automotive revenue fell 15% to $3.83bn. Q4 2025 results also reflected these challenges, with automotive revenue down sharply and the segment posting a quarterly gross loss. However, Rivian continues to lay the groundwork for future growth. Manufacturing validation builds for its upcoming R2 midsize SUV were completed in January, and first customer deliveries remain scheduled for Q2 2026. The company’s investments in autonomy and software platforms, along with its expanding service network, signal an effort to shift toward higher margin revenue streams while preparing for increased production scale. Despite ongoing net losses, Rivian’s 2025 results indicate material progress toward long term financial sustainability.
ChargePoint has reported that usage across its U.S. EV charging network rose sharply over the past year, with charging sessions increasing by 34 percent year over year. This surge in demand has far outpaced the growth of new charging ports, which expanded by only 16 percent during the same period, revealing a widening gap between EV adoption and infrastructure deployment. Despite adding approximately 190,000 new charging ports, utilization grew approximately 20 percent faster, underscoring mounting pressure on the existing charging network. More than 1 million drivers now use ChargePoint’s services each month. Nearly 60 percent of all electric miles enabled by the company’s network since its founding have occurred within the last two years alone. Plug in hybrid vehicles account for approximately 16 percent of commercial AC charging sessions. ChargePoint attributes the rising strain on infrastructure to the growing number of EVs on the road rather than annual sales figures, noting that cumulative adoption is becoming the key driver of demand. The company warns that unless the pace of charger installation accelerates, the imbalance between utilization and capacity will continue to worsen. Despite challenges, ChargePoint highlights substantial environmental benefits, including millions of gallons of gasoline avoided and significant emissions reductions enabled through its network.
Stagecoach East Midlands and Hull City Council Stagecoach East Midlands and Hull City Council have announced they have begun construction on a new electric bus depot that will support the rollout of 42 zero emission buses scheduled to enter service in spring 2026. The project, led by Stagecoach East Midlands at the Foster Street depot, represents a significant step in the city’s public transit decarbonization strategy. The initial fleet consists of 32 double deck ADL Enviro400EV buses, each accommodating 73 seated and 26 standing passengers, and 10 Yutong E10 midibuses with capacity for 31 seated and 39 standing passengers. Funding for the depot’s charging facilities has been provided through Hull City Council as part of wider efforts to modernize transit infrastructure and meet climate goals. Once operational, the new buses are anticipated to boost passenger demand and improve service quality across the region. The depot will have the necessary charging infrastructure to support daily operations, with the broader regional plan aiming to introduce up to 120 electric buses in the future. City officials view the development as transformational for Hull’s transit network, promising quieter, cleaner, and more reliable services. The electric fleet is expected to reduce emissions, support smoother journeys, and encourage a shift away from private car use.
Bloomberg Green has published an interesting piece on how used EV sales in the U.S. are surging, revealing a clear shift in buyer priorities toward affordability and value. While new EV sales have slowed following the end of federal purchase incentives, the second hand market is thriving. According to Cox Automotive, approximately 89,000 used EVs were sold in Q4 2025, marking a 13.5 percent year over year increase. Inventory turnover is strong as well, with used EVs selling in approximately 50 days, faster than comparable gas powered vehicles. Much of this momentum is driven by steep depreciation on newer EV models and the arrival of large numbers of off lease vehicles. Many two to three year old EVs now sell for roughly half their original price, making them far more accessible to budget conscious buyers. Battery durability has also exceeded early expectations, with most EV batteries covered by warranties of at least eight years or 100,000 miles, easing consumer concerns about long term reliability. The narrowing price gap between used EVs and used gasoline cars has made the segment even more appealing, as approximately 40 percent of used EVs sold recently were priced under $25,000. As the supply of used EVs grows and prices fall, analysts expect the used market to play a central role in sustaining broader EV adoption.
The Odyssey Trust has announced it has entered into a new partnership with EV charging operator Weev to expand EV charging options across the Odyssey complex in Belfast. As part of the collaboration, Weev has installed new charging infrastructure in the site’s Lagan side car park, including two 22 kilowatt AC chargers offering a total of four charging points. These chargers support multiple payment options, including app, fob, or contactless, aimed at making public charging more convenient for visitors. The partnership reflects the Odyssey Trust’s broader sustainability strategy, which focuses on implementing practical, long term environmental improvements across its venues. Beyond reducing emissions for visitors, the Trust is also encouraging greener transportation among its affiliated organizations, including the Belfast Giants, whose players and coaches now use fully electric Volvo vehicles through a separate partnership. Weev highlighted the significance of installing chargers at one of Ireland’s most visited entertainment and education destinations, noting that the added infrastructure will give EV drivers more confidence when attending events. The initiative is positioned as a step toward supporting growing EV adoption, improving accessibility to public charging, and reinforcing the Odyssey site’s role in promoting sustainable mobility.
Bangkok has announced it has launched a significant initiative to accelerate the shift toward electric motorcycle taxis as part of its broader strategy to reduce pollution and ease financial burdens on riders. The EV for Win Riders project, introduced by the Bangkok Metropolitan Administration, aims to transition motorcycle taxi drivers, who form a critical part of the city’s transportation network, toward cleaner, more cost efficient EVs. The program includes a rental and trial model designed to lower initial barriers, offering affordable daily lease rates and access to proper charging infrastructure, including standard chargers and battery swapping options. The first phase focuses on the Din Daeng and Phaya Thai districts, where over 200 participants, including motorcycle taxi drivers and city street sweepers, will test electric motorcycles and compare operating costs. A select group will also pilot EVs in real world service at no cost for one month, allowing the city to gather data on performance and usage. Research indicates motorcycle taxis contribute significantly to urban emissions, releasing as much as 80,000 to 100,000 tonnes of carbon dioxide annually. By shifting to electric mobility, Bangkok aims to cut pollution, improve air quality, and strengthen long term economic stability for riders while establishing a scalable model for future citywide expansion.
Be.EV has announced it has acquired Mer’s entire U.K. public charging network, significantly increasing its national footprint and moving the company into the top 10 providers of rapid and ultra rapid charging. The deal adds more than 1,600 charging bays across over 450 sites, essentially tripling Be.EV’s total network footprint. This expansion strengthens its coverage in the South of England while complementing its established presence in the North and Midlands. The acquisition supports the growing demand for reliable high powered public charging and enables Be.EV to offer nationwide access to its subscription pricing model, including competitive off peak rates. The newly integrated network will eventually be powered by Octopus Energy, aligning with Be.EV’s majority ownership under Octopus Energy Generation’s Sky Fund. Existing Mer users will retain access to their familiar charging locations, benefiting from Be.EV’s pricing and service features. Mer will refocus its strategy on core European markets while continuing to operate its U.K. fleet charging business, which includes around 500 workplace chargers. Be.EV plans targeted upgrades to maintain reliability across the expanded network, positioning itself as a key player in a consolidating U.K. charging market.
ABB E‑mobility and Esyasoft have announced they have formed a strategic partnership to accelerate the deployment of global EV charging infrastructure. Through a newly signed memorandum of understanding, the collaboration will combine ABB’s wide ranging portfolio of fast charging hardware, spanning from 50 kilowatt chargers to megawatt scale systems, with Esyasoft’s expertise in energy management, digital platforms, and project execution. The joint effort is aimed at delivering turnkey fleet electrification solutions for public transit agencies, enterprises, and utilities across emerging and established markets. Initial deployment will focus on the Middle East, Africa, and Latin America, with plans for broader global expansion. Esyasoft brings more than 20 years of experience in smart utilities, grid modernization, and digital energy ecosystems, enabling EV charging to be integrated within wider energy aligned mobility systems rather than functioning as standalone infrastructure. Furthermore, ABB adds its extensive technological capabilities and existing global charger network to support large scale and interoperable installations. The partnership emphasizes scalable, reliable, and grid integrated charging solutions aligned with national electrification and decarbonization goals. Both companies highlighted the importance of pairing charging hardware with advanced energy management systems to ensure efficient rollout as demand for electric mobility accelerates worldwide.
Deals
Ever, an AI native auto retail startup, has secured $31 million in Series A funding led by Eclipse to accelerate the launch of its full stack retail platform. The investment brings its total funding to approximately $100 million and supports its mission to modernize the fragmented U.S. auto retail sector, a market worth $1.2 trillion. The startup argues that existing retail models rely on bolt on AI tools that fail to address systemic inefficiencies. Traditional dealership systems often rely on disconnected legacy software and manual processes that create operational friction. In contrast, Ever has built an end to end operating system designed to automate and orchestrate hundreds of tasks involved in sourcing, pricing, merchandising, and selling vehicles. The platform functions as a unified orchestration layer, consolidating workflows such as real time vehicle pricing, inventory management, logistics, and technical assessment of EV battery health and software locked features. As the EV market becomes increasingly nuanced, requiring greater transparency around battery condition, charging compatibility, and regional incentives, Ever aims to provide a standardized, data rich retail experience. Ever believes its unified approach will deliver higher productivity, better pricing transparency, and a more modern EV buying experience compared to legacy automotive retail systems.
Volue, an Oslo based provider of electrification and energy technology, has welcomed TA Associates as a new strategic investor, marking a significant milestone in its long term growth strategy. The investment comes as Volue completes an 18 month transformation focused on streamlining its operations and deepening its commitment to the rapidly evolving energy sector. During this period, the company divested non core assets, strengthened its research and development pipeline, and pursued targeted acquisitions to enhance its capabilities in areas such as power trading, renewable generation, grid optimization, and energy market intelligence. The addition of TA Associates reinforces confidence in Volue’s strategy and its potential to scale globally. The new strategic partner complements existing shareholders such as Advent International, Generation Investment Management, and Arendals Fossekompani. With energy systems becoming increasingly complex and digital, Volue aims to position itself at the center of the global energy transition through its AI driven integrated intelligence platform, which helps utilities, grid operators, and energy producers navigate volatile markets and rising regulatory demands. Volue plans to accelerate innovation, pursue further strategic mergers and acquisitions, and strengthen its role as a leading technology provider in modern energy systems.