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Volkswagen says it signed a memorandum of understanding (MoU) Friday with Ellia Group to explore V2G technology and how it can potentially help stabilize the energy grid while rewarding EV drivers.

Vehicle-to-grid (V2G) technology has immense potential as more electric vehicles hit the road. EV chargers and the technology behind connectors have evolved as automakers work with tech leaders, charging companies, and utility companies to allow their vehicles to be used for more than zero-emission driving.

For example, Ford, Hyundai, Porsche, Nissan, Tesla, and others have explored how drivers can utilize V2G technology to send energy back from their vehicles to the energy grid.

EV batteries have incredible storage ability, which is a significant advantage as countries move to renewable energy sources. Renewable energy sources like wind and solar hold incredible value, but they also come with hurdles.

For one thing, wind and solar cannot be produced on demand, making storage solutions essential. Although the transition will require more transmission capacity, electric vehicles offer a unique solution.

Elia is Belgium’s high voltage transmission operator, maintaining electricity supply and demand. The company believes electric vehicles can be a key asset for balancing the grid, referring to them as “batteries on wheels.”

Volkswagen is joining Elia’s mission as the automaker accelerates its transition to sustainable transportation and explores how V2G technology can help integrate EVs for a superior energy grid.

Volkswagen-V2g-1
Volkswagen V2G promotion Source: V2G UK

Volkswagen, Elia agree on plans to integrate V2G into the grid

Over the next few years, Volkswagen, Elli (VW’s energy and charging division), Elia, and its startup re.alto will explore the benefits of V2G integration and the potential challenges that come along with it.

According to the press release, VW’s new partnership aims to show how electric vehicle drivers “will be able to charge their EVs when there are high amounts of renewable energy” available on the grid and “inject the electricity stored in the EVs back into the grid when it needs it most” with V2G technology.

Elli’s CEO, Elke Temme, talks of the benefits of using bi-directional power, stating:

An essential key to achieving climate neutrality lies in linking of the energy and mobility sectors. Using the electric vehicle battery as a mobile power bank delivers a triple benefit: Firstly, the climate benefits as renewable energy can be stored and therefore be used more efficiently; secondly, the electric grid benefits, as the car can contribute toward grid stability, and thirdly, the customer can earn additional revenue with vehicle-to-grid services. To explore the benefits of this consumer-centric approach, this cooperation with Elia Group is crucial for us.”

The technology, when deployed properly, can benefit all parties involved. With less stress on the energy grid, utility companies can offer lower rates to consumers. On top of this, for sending energy back when it’s needed most, EV drivers can earn incentives.

Volkswagen and its partners will focus on four critical areas that would lead to the successful integration of V2G, including:

  • Price signals (incentives) – Exploring ways to incentivize EV drivers to use their vehicles to store and send energy back to the grid.
  • Market design – Working to remove barriers preventing EV owners from being able to choose their energy supplier.
  • Trusted data – EVs must have some verification process to plug into the grid for security purposes.
  • Secure connectivity – Ensuring the connection is secure and any data transferred is safe.

For V2G to work on a wide scale, Volkswagen and its partners recognize these critical factors must be addressed first.

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BYD’s new 3,000 hp electric supercar puts Ferrari to shame

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BYD's new 3,000 hp electric supercar puts Ferrari to shame

BYD claims its new EV supercar has “the world’s strongest horsepower” after showing it off for the first time. The Yangwang U9 02 test car packs nearly 3,000 hp, and it’s coming for Ferrari.

Meet the 3,000 hp BYD Yangwang U9 02 EV supercar

China’s EV leader is at it again. In a trailer that resembled a promotional video for a new Fast and Furious movie, BYD unveiled the new Yangwang U9 02 for the first time.

BYD boasted its new Yangwang EV supercar has “the world’s strongest horsepower of over 3,000 Ps,” or just under 3,000 hp.

The trailer builds hype as the garage doors slowly rise, unveiling the Yangwang U9 with a white “02” badge on the hood. From the back, you can see the test car is designed for maximum performance with vortex generators, a small lip spoiler, and other added elements for better aerodynamics.

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BYD is keeping most details secret for now, but we do know it’s looking to break another global record. The video was accompanied by the caption “#GlobalElectricCarSpeedNewRecord.”

The new test car comes after BYD announced the Yangwang U9 Track Edition model set a new global speed record for electric vehicles just last month, after hitting a ridiculous 472.41 km/h, or around 293 mph.

After the milestone, BYD said it was “the first time a Chinese domestic brand achieved a world record in this field.” Now, it looks like BYD is gunning for even more.

BYD-3,000-hp-EV-supercar
The BYD Yangwang U9 Track Edition model (Source: BYD)

The Yangwang U9 Track Edition features the world’s first mass-produced 1,200V ultra-high-volt platform. It uses the same e4 platform and DiSus-X architecture, enabling it to “dance” and jump over obstacles.

BYD said its quad-motor system is the first in the world rated at 30,000 rpm, delivering a combined output of over 3,000 PS (2,959 hp).

BYD-3,000-hp-EV-supercar
Inside the Yangwang U9 electric supercar (Source: BYD)

With a power-to-weight ratio of 1,217 PS per tonne, the Yangwang U9 Track Edition outmuscles most hypercars today.

We should learn more about the Yangwang U9 02 soon. Check back for an official launch date, final specs, and pricing.

The Yangwang U9 starts at just 1,680,000 yuan in China, or around $233,000. Although it may sound pricey compared to most of BYD’s low-cost EVs, the EV supercar is still about half the price of a Ferrari SF90 Stradale. Not only is it faster, it’s also much more advanced, packing BYD’s highest level technology and software.

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Waymo is expanding robotaxi operations to Nashville through a partnership with Lyft

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Waymo is expanding robotaxi operations to Nashville through a partnership with Lyft

Fully autonomous technology developer Waymo announced a new partnership with rideshare network Lyft to offer driverless robotaxi rides to customers in Nashville, Tennessee.

As promised, robotaxi developer Waymo is expanding its Waymo One service to more and more cities around the US. Before today’s expansion news to Nashville, Waymo already operated autonomous vehicles in cities like Los Angeles, San Francisco, and Phoenix.

During a $5.6 billion Series C funding announcement in 2024, the mobility company detailed plans to expand Waymo-One rideshare services to additional US cities, including Miami, Florida, Austin, Texas, and Atlanta, Georgia, in 2025 through an ongoing partnership with Uber.

Most recently, Waymo announced additional expansion plans in Dallas through a new partnership with Avis, which will handle fleet maintenance in the region. Today, Waymo has confirmed yet another partner in Lyft, which will assist in offering riders in Nashville convenient robotaxi rides

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Robotaxi Nashville
Source: Lyft

Lyft to begin Waymo robotaxi rides in Nashville next year

This morning, both Lyft and Waymo published press releases outlining their new partnership, which will enable public robotaxi rides around the musical streets of Nashville as early as next year. Waymo co-CEO Tekedra Mawakana spoke about the new partnership:

We’re delighted to partner with Lyft and launch in Nashville next year, as we continue to scale our Waymo ride-hailing service to more people in more places. Lyft’s extensive fleet management capabilities through Flexdrive make them an ideal partner for expanding to Nashville. We can’t wait to introduce Music City’s residents and visitors to the convenient, consistent, safe, and magical Waymo experience.

To begin, Waymo says it intends to begin deploying its robotaxi vehicles in Music City in the coming months. From there, public rides will start with the help of Lyft’s fleet management subsidiary, Flexdrive. Per Waymo, Nashville riders will initially be able to hail a robotaxi from the company’s app, which will eventually expand to the Lyft app. Lyft CEO David Risher also commented:

This partnership brings together best-in-class autonomous vehicles with best-in-class customer experience. Waymo has proven that its autonomous technology works at scale. When combined with Lyft’s customer-obsession and world-class fleet management capabilities, it’s two great tastes that go great together.

Watch for the Waymo One robotaxis around Nashville in the coming months!

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Abu Dhabi’s XRG withdraws $19 billion offer for Australia’s Santos

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Abu Dhabi’s XRG withdraws  billion offer for Australia’s Santos

The Santos Ltd. Logo atop Santos Place building, which houses the company’s office, in Brisbane, Australia, on Monday, Dec. 11, 2023.

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Abu Dhabi’s National Oil Company has walked away from its $19 billion offer for Australia’s Santos, ending months of speculation over what would have been one of the country’s largest energy deals.

The consortium, which includes Abu Dhabi sovereign wealth fund ADQ and investment firm Carlyle, made the $19 billion indicative offer for Santos in June, but confirmed on Wednesday that it will not proceed with a binding takeover.

“It’s over,” a source familiar with the matter told CNBC. “The reality is, during the process, Santos was inflexible,” the source added. CNBC understands the XRG-led consortium had key concerns around value, tax, and the timeliness of disclosure. 

The source also described the Santos negotiation team as “unrealistic” and said that this was “not the outcome” Abu Dhabi’s XRG was hoping for. 

XRG said a “combination of factors” derailed its third attempt at securing Santos, which Abu Dhabi had hoped would bolster its ambitions to export LNG into the Asia markets. It’s understood other issues, such as a lack of communication and inflexibility over capital gains tax, and recent media reports over environmental risks that the consortium was not previously aware of, were part of the broader issues that derailed the deal. 

Although talks with Santos have collapsed, the consortium is still expected to explore opportunities in Australia’s energy sector. Sources familiar with the matter also emphasised that regulatory approvals, and unions, were not a concern, calling the decision “purely commercial.”

XRG, which has an enterprise value of $80 billion, recently took control of ADNOC’s listed subsidiaries, in a move to strengthen its financial position to seek out global energy deals.

Santos, headquartered in Adelaide, has been the subject of repeated takeover interest as global demand for natural gas accelerates alongside the energy transition. The company plays a key role in supplying LNG to Asian buyers, and has been a strategic target for international investors. 

CNBC has reached out to Santos for comment.

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