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A Volvo C40 Recharge photographed in Stockholm, Sweden, on March 2, 2021.
CLAUDIO BRESCIANI | AFP | Getty Images

The CEO of Volvo Cars has told CNBC that the automaker’s shift to electric vehicles is the reason behind its planned listing on the Nasdaq Stockholm stock exchange.

The company wants to raise 25 billion Swedish krona, or $2.9 billion, via the initial public offering, which will be one of the biggest in Europe this year.

In an interview with CNBC’s Julianna Tatelbaum Monday, Hakan Samuelsson was asked why the company was going public now.

“We have a very big interest from investors to invest into EV companies, you see that growing all the time,” he said. “We have said 2030 is our end date for [the] ICE [Internal combustion engine] engine and we of course want to secure that transformation.”

Samuelsson explained that the shift to electric vehicles was “not free of charge.”

“That’s why we are now talking about [the] primary issuing of new shares in around 3 billion U.S. dollars … And that is really to have the financial resources to secure this transformation in the next five, six years. That’s really … the reason for our ‘intention to float’ message,” he added.

In March, Volvo Cars — which is headquartered in Sweden but owned by China’s Zhejiang Geely Holding Group — said it planned to become a “fully electric car company” by the year 2030.

“There is no long-term future for cars with an internal combustion engine,” Henrik Green, Volvo Cars’ chief technology officer, said at the time. “We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030.”

Volvo Cars is one of a number of automakers looking to make the transition to fully electric vehicles. In July, Germany’s Daimler said its Mercedes-Benz brand would “be ready to go all electric at the end of the decade, where market conditions allow.”

In February, Ford said its entire passenger vehicle range in Europe would be “zero-emissions capable, all-electric or plug-in hybrid” by the middle of 2026, with a “completely all-electric” offering by 2030.

This transition comes as major economies also lay out plans to move away from the internal combustion engine.

The U.K., for example, wants to develop a net-zero transport sector by 2050, stopping the sale of new diesel and petrol cars and vans by 2030. It will require, from 2035, all new cars and vans to have zero tailpipe emissions.

Elsewhere, the European Commission, the EU’s executive arm, is targeting a 100% reduction in CO2 emissions from cars and vans by 2035.

Chip challenges

All the above changes are taking place while global car manufacturers continue to battle the impact of a global semiconductor shortage.

On Tuesday, figures released by the Society of Motor Manufacturers and Traders showed that 215,312 cars were registered in the U.K. during September 2021. This represents a decline of 34.4% compared to the same month in 2020, with the SMMT describing it as the “weakest September since 1998.”

In a statement, the industry body said the “ongoing shortage of semiconductors” had impacted vehicle availability. 

The SMMT also noted, however, that “September was the best month ever for new battery electric vehicle (BEV) uptake.”

“With a market share of 15.2%, 32,721 BEVs joined the road in the month, reflecting the wide range of models now available and growing consumer appetite,” the SMMT said.  The best-selling car for the U.K. market in September 2021 was the Tesla Model 3.

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Police claim certain electric motorbikes being used ‘almost exclusively’ for crime

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Police claim certain electric motorbikes being used 'almost exclusively' for crime

In a discussion on the increase in crime committed by individuals riding electric motorbikes, the Hampshire Police and Crime Commissioner, Donna Jones, has claimed that a certain style of bike is being used “almost exclusively” for criminal actions.

Jones, a British Conservative Party politician, made the claim in reference to Sur Ron-style electric motorbikes, which resemble something fitting between a small dirt bike and a large electric bicycle.

These vehicles, which can often reach around 50 mph (80 km/h), are technically not electric bicycles but rather small electric motorcycles. They are designed primarily for use on off-road trails and other non-street uses, meaning they are rarely street-legal. However, young riders often use them on streets anyway.

According to the Daily Mail, “The Police and Crime Commissioner claimed the majority of people using these type of e-bikes are ‘doing something wrong’ as she voiced her concerns over the spate of crime gripping Britain.”

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Jones says that these electric motorbikes have been used extensively in street crime, usually in the form of phone snatching. Social media is full of videos of pedestrians walking down the street while using their phones and having them grabbed by a rider of a Sur Ron-style electric motorbike.

Scotland Yard has reportedly been in contact with the Chinese company Sur Ron, the manufacturer of many of these electric motorbikes, and the company has apparently vowed to cooperate with police.

Sur-Ron-style electric motorbikes have surged in popularity among young riders in Britain, particularly in urban areas where their lightweight frames, high torque, and near-silent operation make them appealing for both recreation and practical commuting. However, we’ve also seen them become a praised getaway vehicle for criminals, even if Jones’ claim that they are used “almost exclusively” for crime is quite likely an exaggeration based on confirmation bias.

Unlike traditional combustion engine motorcycles, these e-motorbikes can be more easily obtained to be ridden without a license, even if that is not permitted by local laws. Additionally, many are easily modified to exceed UK regulations with higher speed and power than is traditionally permitted.

Their ability to accelerate quickly and maneuver through traffic with ease has also made them a tool of choice for criminal activity, particularly in these types of phone-snatching and ride-by thefts, where offenders use the bikes to evade police and disappear into narrow streets or pedestrian areas.

With police enforcement struggling to keep pace with their widespread, often unregistered use, authorities continue to debate whether tougher restrictions or alternative solutions are needed to curb both their illegal modifications and criminal misuse.

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BYD may have its next power play: Another EV plant in Europe, this time in Germany

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BYD may have its next power play: Another EV plant in Europe, this time in Germany

After dominating in China, BYD is making an aggressive push into Europe. With another EV plant reportedly coming soon, this time in Germany, BYD is taking direct aim at Volkswagen, BMW, and other domestic OEMs.

BYD wants a third EV plant in Europe, likely in Germany

BYD is already quickly expanding its European footprint with two manufacturing plants under construction. One is in Hungary, and the other is in Turkey.

According to a new report, a third could be coming soon. BYD’s executive vice president, Stella Li, recently told German newspaper Automobilwoche that the Chinese EV maker is eyeing another plant, and this time, it could be in Germany, the heart of Europe’s auto industry.

Although Li didn’t offer any other details, a source familiar with the matter told Reuters that Germany is likely BYD’s best option.

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Germany is home to Volkswagen, BMW, Mercedes-Benz, Porsche, and several others, which could lead to a major market shakeup.

BYD has been gaining momentum, with overseas sales surging in the first two months of 2025. In January, the company sold a record 66,336 NEVs overseas. Last month, BYD topped that with just over 67,000 vehicles shipped to overseas markets.

BYD-EV-plant-Germany
BYD launches Sealion 7 smart electric SUV at 2024 Paris Motor Show (Source: BYD)

Chinese brands continued gaining traction despite new vehicle registrations falling 2% in Europe in January. With over 37,100 vehicles registered, Chinese brands accounted for 3.7% of the market, up from 2.4% in January 2023.

BYD wants to grow the brand in Europe and connect with local buyers. Although Germany would likely be the best place to do so, high energy costs could be a challenge.

BYD-EV-plant-Germany
Michael Shu, Managing Director of BYD Europe, speaks at the IAA (Source: BYD)

Last Summer, BYD bought out its German distributor, Heden Electric Mobility, giving it more control over pricing and out.put

With the EU imposing new tariffs on EV imports from China, BYD could offset some of the costs through local production. Meanwhile, China has also warned domestic companies not to invest in countries applying additional tariffs.

BYD-EV-plant-Germany
BYD’s wide-reaching electric vehicle portfolio (Source: BYD)

BYD’s plant in Hungary is scheduled to open in October. The second in Turkey will come online in 2026, and both plants are expected to have a combined annual production capacity of 500,000.

Although BYD is best known for its low-cost electric cars, like the Dolphin and Atto 3, the company is expanding with luxury EVs, pickups, smart SUVs, and supercars now hitting the market.

BYD is aggressively ramping up in the region. According to S&P Global Mobility, BYD’s sales are expected to double in 2025 to 186,000. By 2029, the company is expected to sell around 400,000 vehicles with a full lineup.

No final decision has been made yet, but Li said the third plant could come within the next two years. After overtaking Volkswagen as China’s largest automaker, BYD could set up shop on its home turf. Check back soon for more. We’ll keep you updated with the latest.

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BYD confirms new 1,000V ‘Super E-Platform’ capable of fast charging 400km in 5 minutes

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BYD confirms new 1,000V 'Super E-Platform' capable of fast charging 400km in 5 minutes

We EV enthusiasts have heard it all from the haters before. “What are you gonna do with all those batteries?” “There’s just not enough range,” and, of course, “Charging takes so much longer than a gas station visit.” As previously teased, Chinese auto conglomerate BYD has introduced a new 1,000-volt EV platform that can enable charging rates as fast (or perhaps faster) than a trip to the gas station. We’re talking five minutes.

We got official confirmation from BYD this morning (evening in Shenzen, China) following a report we followed last Friday. On its Weibo page last week, Build Your Dreams (BYD) teased some capabilities of a new EV architecture it calls the “Super E-Platform,” sharing that it will enable charging parity with gas station visits.

To achieve that, BYD promised 1,000 kW charge speeds—double the current industry leaders, including Tesla. In reality, it’s tripling the standard as most fast chargers on the market can only reach about 350 kW, and many of them (in the US, at least) are usually more in the 200s.

While there are some ultra-luxe EV models powered by higher voltage platforms, 800V has been the ceiling for a while, and to be honest, most models today cannot even hit 350 kW. BYD plans to change that with its new “Super E-Platform,” which has officially been unveiled and offers 1,000V and charge rates up to 1,000 kW.

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BYD charging
Source: BYD/Weibo

BYD delivers charging speeds similar to gas station visits

As promised last Friday, BYD held a livestream event at its headquarters in Shenzen, China, where it officially unveiled its new 1,000V Super E-Platform, capable of charging 1MW+ (1,000 kW) rates. Per its Weibo post (translated from Chinese):

BYD officially releases flash charging battery with ultra-high voltage of 1000V, ultra-large current of 1000A and ultra-large power of 1000kW, achieving global mass production of megawatt flash charging with the highest peak charging speed of 1 second and 2 kilometers, completely solving users’ charging anxiety when traveling.

As you can see from the images detailing the new platform’s specs above, this is a 1,000-volt, 1,000-amp platform that enables charging up to 400km (249 miles) of range in a mere five minutes. As we pointed out last week, today’s event also marked the launch of BYD’s new Han L and Tang L models in China, which will utilize the new fast-charging platform.

To support future models capable of these industry-leading charging speeds, BYD plans to implement over 4,000 ultra-fast charging stations around China. However, the timeline of that rollout remains unknown to the public. You can watch BYD’s complete live stream, debuting the technology and its capabilities here.

Electrek’s take

While this technology is designed in China, for China (at least for now), BYD’s debut of the Super E-Platform is a momentous day for the EV industry. BYD has developed and delivered platform architecture that is the best in the world on paper and has proven that it is possible to deliver charging speeds that are on par with a trip to the gas station.

Charging times remain a huge hurdle for larger EV adoption, so news like this breaks a ceiling for the current industry and offers a glimpse into the future to a day when more and more electric vehicles can recharge quickly, taking one more argument away from naysayers. Bravo BYD.

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