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After the historic public listing of Volkswagen’s sports performance brand, Porsche, the automaker’s chief financial officer (CFO), Arno Antiliz, says VW is ready and well funded to execute its EV strategy. He also mentions the possibility of listing its battery unit, PowerCo, to free up even more funds and accelerate battery cell development.

Porsche made its highly anticipated public trading debut Thursday on the Frankfurt Stock Exchange, hitting the top end of VW’s guidance at around $73 billion in value while receiving around 9.6 billion euros ($9.37 billion) in proceeds. The substantial listing makes it the largest IPO in Europe since Glencore, a commodity company, in 2011.

Despite poor market conditions, VW went ahead with the listing, knowing Porsche’s superior brand appeal could attract investors.

Many investors are looking for the next Ferrari or Tesla stock. Ferrari was another luxury sports carmaker that went public during challenging market conditions in 2015. However, with higher profit margins and being one of the most recognized brands in high-performance vehicles, investors jumped in as Ferrari raised around $10 billion in its IPO.

VW gained around $9.4 billion from the Porsche listing, which the automaker plans to use to fund its EV ambitions. Volkswagen’s CEO, Oliver Blume, commented on Porsche’s listing, saying:

Our increased degree of autonomy puts us in a very good position to implement our ambitious goals in coming years.

The proceeds from the Porsche listing will give VW the ability to invest back into the company, accelerating its electric vehicle production. In particular, VW looks to establish a fully integrated value chain, complete with electric vehicles, batteries, battery cells, raw materials, and equipment. The automaker’s CFO suggests PowerCo (VWs battery business) may be the next to go public.

Will VW’s PowerCo go public after the Porsche listing?

Volkswagen’s CFO shut down rumors of the automaker listing another premium division, such as Audi, instead hinting a PowerCo IPO could be in the works, saying:

The next project is strategic partnerships or a potential IPO of the battery unit – I can’t say more for now.

The CFO then claimed:

We do not rule out an IPO of the battery unit, but the financial flexibility we won today allows us to further strengthen our work in batteries alone. Then we will consider adding strategic partners later on.

PowerCo is a 100% owned VW subsidiary, created in July 2022 to take on the automaker’s battery operations. According to VW, the battery unit has the potential to produce up to €20 billion in revenue annually.

The battery unit plans to open six Gigafactories with 240 GWh capacity by 2030, with the first coming in Salzgitter, Germany, and two others planned for Sweden and Spain. The Salzgitter factory will act as a blueprint for VW, with production expected to begin in 2025.

Volkswagen is leading the auto industry in electric vehicle and battery investments. At the same time, supply constraints remain an issue for the foreseeable future. It will take time for these and other automaker’s battery plants to come online and begin production.

VW is hoping the Porsche listing will help accelerate its EV plans. With the option of also listing its battery company, PowerCo, the automaker should remain well funded as the transition to EVs continues to accelerate.

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Is Elon Musk delusional or lying about Tesla ‘Full Self-Driving’?

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Is Elon Musk delusional or lying about Tesla 'Full Self-Driving'?

Tesla CEO Elon Musk threw shade at Waymo for having “rookie numbers” amid Tesla’s own disappointing autonomous-driving performance, raising the question: Is Elon Musk delusional or simply lying about Tesla’s Full Self-Driving?

Every year since 2018, Musk has alternately claimed that Tesla would solve self-driving “by the end of the year” or “next year.”

It never happened.

Tesla claimed a sort of victory this year with the launch of its “Robotaxi” service in Austin, Texas, but even that has been misleading since the service only operates a few vehicles in a geofenced area, something Musk has criticized Waymo for in the past, and unlike Waymo, Tesla has in-car supervisors with a finger on a killswitch to stop the vehicle in case of a potential accident.

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Even with in-car supervisors preventing an unknown number of accidents, we recently learned that Tesla’s robotaxi crash rate is almost twice that of Waymo’s, which operates its service without any employees inside its vehicles.

Now, Musk called Waymo’s 2,500 fully autonomous vehicles currently in operation “rookie numbers”:

To put the comment in perspective, Tesla is believed to have about ~30 “Robotaxis” in its Austin fleet. In addition, Tesla claims to be operating “robotaxis” in the Bay Area with just over 100 cars, but it is officially considered a ride-hailing service because drivers are in the driver’s seat, and Tesla hasn’t even applied for an autonomous driving permit in California.

Tesla has also been pushing increasingly more misleading claims about its “Full Self-Driving” system being safer than humans.”

In the last few weeks, Tesla has repeatedly shared this misleading data as “proof” that its system is safer than humans:

This dataset is based on Tesla’s quarterly “Autopilot safety” report, which is known to be misleading.

There are three major problems with these reports:

  • Methodology is self‑reported. Tesla counts only crashes that trigger an airbag or restraint; minor bumps are excluded, and raw crash counts or VMT are not disclosed.
  • Road type bias. Autopilot is mainly used on limited‑access highways—already the safest roads—while the federal baseline blends all road classes. Meaning there are more crashes per mile on city streets than highways.
  • Driver mix & fleet age. Tesla drivers skew newer‑vehicle, higher‑income, and tech‑enthusiast; these demographics typically crash less.

With the new chart on the right above, Tesla appears to have separated Autopilot and FSD mileage, which gives us a little more data, but it still has all the same problems listed above, except the road-type bias is less pronounced, since FSD is also used on city streets.

However, many FSD drivers choose not to engage FSD in potentially dangerous or more difficult situations, especially in inclement weather, which contributes to many crashes – crashes that are counted in the human driver data Tesla is comparing itself against.

Lastly, it is unfair to say that the data proves FSD is safer than human drivers, as even with the flawed data, Tesla should claim that FSD with human supervision is safer than human drivers. It’s not FSD versus humans, it’s FSD plus humans versus humans.

It leads us to this.

With Tesla and Musk being undoubtedly wrong and misleading about the performance and the very nature of its current autonomous driving offering, I wanted to know your opinion about the situation through this poll:

Electrek’s Take

Personally, I think it’s a little of both.

I think he sometimes really believes Tesla is on the verge of solving autonomy, but at the same time, he is perfectly willing to cross the line and mislead people into thinking Tesla is further ahead than it actually is.

For example, I believe I can explain this comment about Waymo having “rookie numbers” despite the Alphabet company having about 10x more “robotaxis” than Tesla – even with Tesla’s very loose definition of a robotaxi.

Based on job listings across the US and his recent ridiculous comment that Tesla will magically cover half of the US population with robotaxis by the end of the year, I think Tesla is hiring thousands of drivers. Soon, it will put them in Model Ys with ‘Robotaxi’ stickers on them and have them drive on FSD and give rides in the Robotaxi app in several US cities.

Musk will claim that Tesla’s Robotaxi is now bigger than Waymo, even though it will basically be the equivalent of Uber drivers in Tesla cars with FSD, which is already the case. Just this week, I took an Uber from the Montreal airport, and it was in a Model Y with FSD. Has Tesla launched ‘Robotaxi’ in Montreal?

It’s either that or he counts consumer vehicles with FSD, which is even dumber.

In short, he is delusional, and when he realizes that he was wrong, he is willing to lie to cover things up.

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Solar and wind are covering all new power demand in 2025

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Solar and wind are covering all new power demand in 2025

Solar and wind are growing fast enough to meet all new electricity demand worldwide for the first three quarters of 2025, according to new data from energy think tank Ember. The group now expects fossil power to stay flat for the full year, marking the first time since the pandemic that fossil generation won’t increase.

Solar and wind aren’t just expanding; they’re outpacing global electricity demand itself. Solar generation jumped 498 TWh (+31%) compared to the same period last year, already topping all the solar power produced in 2024. Wind added another 137 TWh (+7.6%). Together, they supplied 635 TWh of new clean electricity, beating out the 603 TWh rise in global demand (+2.7%).

That lifted solar and wind to 17.6% of global electricity in the first three quarters of the year, up from 15.2% year-over-year. That brought the total share of renewables in global electricity – solar, wind, hydro, bioenergy, and geothermal – to 43%. Fossil fuels slid to 57.1%, down from 58.7%.

Renewables are beating coal

For the first time in 2025, renewables collectively generated more electricity than coal. And fossil generation as a whole has stalled. Fossil output slipped slightly by 0.1% (-17 TWh) through the end of Q3. Ember expects no fossil-fuel growth for the full year, driven by clean power growth outpacing demand.

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China and India are partly driving that shift. In China, fossil generation fell 52 TWh (-1.1%) as clean energy met all new demand, resulting from a structural change in its power system. India saw fossil generation drop 34 TWh (-3.3%), thanks to record solar and wind growth and milder weather.

Solar is leading the charge

Solar is doing the heavy lifting. It’s now the single biggest driver of change in the global power sector, with growth more than three times larger than any other electricity source in the first three quarters of the year.

“Record solar power growth and stagnating fossil fuels in 2025 show how clean power has become the driving force in the power sector,” said Nicolas Fulghum, senior data analyst at Ember. “Historically a growth segment, fossil power now appears to be entering a period of stagnation and managed decline. China, the largest source of fossil growth, has turned a corner, signaling that reliance on fossil fuels to meet growing power demand is no longer required.”

Electricity demand rose 2.7% in the first three quarters of 2025, far slower than the 4.9% jump seen last year when extreme heatwaves pushed up cooling demand in China, India, and the US. This year’s milder weather helped take some pressure off the grid, making it easier for clean energy to close the gap.

A turning point for the global power system

For the first time outside of major crises such as the pandemic or the global financial crash, clean energy growth has not only kept up with demand but surpassed it. The next big question: can solar, wind, and the rest of the clean power sector keep up this pace consistently? If they can, 2025 may be remembered as the year global fossil generation plateaued.

Read more: FERC: For two years straight, solar leads new US power capacity


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The Genesis GV90 really does have coach doors [Video]

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The Genesis GV90 really does have coach doors [Video]

Genesis is taking luxury to the next level with its new flagship SUV. The GV90 is shaping up to be the brand’s most lavish vehicle yet, offering ultra-premium features like coach doors.

Genesis GV90 caught with coach doors in real life

After unveiling the Neolun Concept at the New York Auto Show last March, Genesis said it was a preview of its first full-size SUV.

The “ultra-luxe, state-of-the-art SUV,” as Genesis describes it, will be the brand’s largest and most luxurious vehicle yet, slotted above the GV80.

It wasn’t the stunning design or the over-the-top interior that caught most people’s attention, but the B-pillarless coach doors.

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Although we were worried that some of the ultra-premium features, like the coach doors, wouldn’t make it to the production model, new spy photos reveal otherwise.

A GV90 prototype was spotted out in public with the coach doors wide open, giving us our closest look at the setup. The new spy photos, courtesy of SH Proshots (via TheKoreanCarBlog), show the hinged door system in action and offer a glimpse of the interior.

Earlier this year, Hyundai Motor filed several patent applications with the United States Patent and Trademark Office, detailing new door latching devices.

Two patents, titled “Cinching Device For Door Latches in Vehicle” and “Door Latch Device for Vehicles,” offer a better idea of how the Genesis GV90’s coach doors will work.

Genesis has previously said that B-pillarless coach doors are now a reality in production vehicles. It looks like the GV90 will be the first to debut it.

Yes, the Genesis GV90 will be available with coach doors, but it likely won’t be standard on all trims. It could be a premium feature reserved for higher-priced variants. The GV90 has been spotted out in public several times now with a traditional door design. We’ve also caught a glimpse of other premium features it will offer, like adaptive air suspension.

Genesis-GV90-coach-doors
The Genesis Neolun electric SUV concept (Source: Genesis)

Genesis has yet to reveal prices or final specs. We could see the GV90 debut by the end of the year, with sales expected to start in mid-2026.

One thing is for sure: The Genesis GV90 won’t be cheap. It’s expected to start around $100,000, but higher trims could cost upwards of $120,000.

Genesis-GV90-coach-doors
Genesis Neolun electric SUV concept interior (Source: Hyundai Motor)

Earlier this week, a production version of the GV90 was caught for the first time driving in South Korea. It was still covered in camouflage, but from what’s shown, it looks nearly identical to the Neolun concept.

Reports suggest the flagship SUV could debut on Hyundai’s new eM platform. Hyundai claims the platform will deliver a 50% improvement in driving range per charge compared to its current EVs. It’s also expected to offer Level 3 autonomous driving and other advanced driver assist capabilities.

The flagship electric SUV will serve as a tech beacon, showcasing Hyundai’s latest tech and software. It’s expected to feature a massive 24″ curved infotainment as part of a digital cockpit design.

Genesis is also launching its first hybrid, the GV80, next year, and an extended-range electric vehicle (EREV) in late 2026 or early 2027. The luxury brand will also introduce a new off-road SUV as it expands into new segments.

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