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The burning of fossil fuels such as coal, oil and gas is the chief driver of the climate crisis.

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Nearly half of the coal industry intends to develop new projects to exploit the world’s dirtiest fossil fuel, according to German campaign group Urgewald, with many companies refusing to retire assets even as extreme weather events become worse and more frequent across the globe.

An annual update from Urgewald and 40 partner NGOs published Thursday found that 490 of the 1,064 companies on its Global Coal Exit List were pursuing new coal power plants, coal mines or new coal transport infrastructure.

It means 46% of the companies surveyed are committed to expanding despite last year’s U.N. climate summit in Glasgow ending with a global agreement to “accelerate efforts towards the phasedown of unabated coal.”

The research, which represents the world’s most comprehensive public database on the coal industry, said less than 3% of those surveyed had announced timely coal exit dates.

“Pursuing new coal projects in the midst of a climate emergency is reckless, irresponsible behavior,” said Heffa Schuecking, director of Urgewald. “Investors, banks, and insurers should ban these coal developers from their portfolios immediately.”

Coal is the most carbon-intensive fossil fuel in terms of emissions and therefore the most critical target for replacement in the transition to renewable energy sources.

To be sure, the burning of fossil fuels such as coal, oil and gas is the chief driver of the climate crisis.

In just the last few months, historic floods submerged one-third of Pakistan, Europe experienced its hottest summer in 500 years and China recorded the most severe heatwave in climatic history.

At the same time, some European governments have reluctantly turned to coal to help prevent a winter supply shortage amid a dramatic fall in Russian gas flows. Moscow has throttled gas supplies amid a bitter energy stand-off provoked by the Kremlin’s war in Ukraine.

Clear and near coal exit dates

Speaking ahead of the COP27 climate summit in Sharm el-Sheikh next month, U.N. Secretary-General Antonio Guterres warned, “we are in a life-or-death struggle for our own safety today and our survival tomorrow.”

“This is no time for pointing fingers — or twiddling thumbs. It is time for a quantum level compromise between developed and emerging economies,” he added.

The NGOs report said there are currently more than 6,500 coal plant units globally with a combined capacity of 2,067 gigawatts. It says that whether humanity is able to keep global heating from surpassing the critical temperature threshold of 1.5 degrees Celsius depends “first and foremost on how quickly we phase out this enormous coal plant fleet.”

The 1.5 degrees Celsius goal is the aspirational global temperature limit set in the landmark 2015 Paris Agreement. It is recognized as a crucial global target because beyond this level, so-called tipping points become more likely.

The vast majority of companies on the GCEL still have no intention of retiring the coal assets, which are propelling us towards a breakdown of our climate systems.

Heffa Schuecking

Director of Urgewald

Under the IEA’s roadmap to net zero by 2050, published in May last year, the world’s richest countries must retire their coal power plants by the end of the decade — at the latest — and by 2040 for the rest of the world.

In stark contrast to high-income countries like Italy, France and the U.K., however, the U.S. has not yet set a national phase-out date for its coal power plants.

“While the warnings issued by IPCC and UNEP become more and more dire from one UN Climate Summit to the next, our data regarding companies’ transition plans remains depressingly consistent,” Schuecking said.

“The vast majority of companies on the GCEL still have no intention of retiring the coal assets, which are propelling us towards a breakdown of our climate systems. A real transition requires clear and near coal exit dates.”

Today, there are more than 6,500 coal plant units globally with a combined capacity of 2,067 gigawatts.

Saeed Khan | Afp | Getty Images

Urgewald’s Schuecking told CNBC that since the 2015 Paris accord was signed, the global coal plant fleet had seen a net increase of roughly 157 gigawatts. That’s the equivalent of Germany, Russia, Japan and Poland’s coal fleet added up together.

The research found that 467 gigawatts of new coal-fired capacity were still in the pipeline worldwide. And, if realized, these projects would increase the world’s current coal power capacity by 23%.

“Stopping investing in or financing coal developers, that should be a no-brainer. I just don’t see how anyone can be serious about the Paris goals or be an institution that takes climate seriously if you’re still involved with coal developers,” Schuecking said.

China’s coal habit

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China’s nationwide ‘cash for clunkers’ trade-in program causing huge e-bike boom

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China's nationwide 'cash for clunkers' trade-in program causing huge e-bike boom

While much of the Western world is still figuring out how to get more people on electric bikes, China just flipped a switch, and the results are staggering. Thanks to a generous nationwide trade-in program rolled out around six months ago, China has seen an explosive surge in electric bicycle sales, with over 8.47 million new e-bikes hitting the road in the first half of 2025 alone.

The program, which offers subsidies to riders who trade in their old, often outdated electric bikes for newer, safer, and more efficient models, has sparked a new e-bike sale boom in a country already dominated by e-bike travel. In major provinces like Jiangsu, Hebei, and Zhejiang, over one million new e-bikes were sold in each region in just six months. That’s a tidal wave of e-bike sales.

The incentives vary depending on location and the model being traded in, but for many consumers, the subsidies cover a substantial portion of a new e-bike’s price – enough to turn a “maybe next year” purchase into a “right now” upgrade. And these aren’t just budget bikes either. The program has driven demand for higher-quality models with better batteries, safer braking systems, and more reliable electronics, accelerating both adoption and innovation across the industry.

The move has proven successful in replacing the millions of older models with lower-quality lithium-ion batteries that had posed safety risks around the country. Instead, China has pushed for higher-quality lithium-ion batteries, a return to a newer generation of higher-performance AGM batteries, and even interesting new sodium-ion battery options.

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Most e-bikes in China look more like what we’d consider seated scooters

According to China’s Ministry of Commerce, more than 8.4 million consumers have participated in the e-bike trade-in program so far, contributing to a sales increase of 643.5% year-over-year and more than doubling sales month-over-month. Meanwhile, production of new electric bicycles rose by nearly 28%, as manufacturers scrambled to meet demand. The sales boosts have already been seen in the financial reports of major industry players like NIU.

And it’s not just the big players benefiting – over 82,000 small independent e-bike dealers reported average sales increases of ¥302,000 (around US $42,000), giving a serious boost to local economies.

What’s particularly striking here is how fast this happened. The program was officially launched late last year as part of a broader effort to stimulate domestic consumption and phase out outdated vehicles and appliances. But while most analysts expected gradual growth, the e-bike sector responded much more quickly. In less than a year, the trade-in subsidies have reshaped the electric bicycle market, creating a consumer-driven boom that shows no signs of slowing.

For those of us watching from outside China, it’s hard not to wonder what might happen if other countries tried something similar. While most families in Chinese cities already own an electric bike and thus see this as an opportunity to trade it in for a newer model, Western countries like the US are still figuring out how to stimulate commuters into buying their first e-bike.

It’s too soon to know exactly how long the boom will last or whether the momentum will carry into 2026 and beyond. We’ve seen bicycle industry bubbles grow and burst before. But one thing’s clear: with the right incentives, even modest ones, it’s possible to ignite real, large-scale change. China just proved it with nearly 8.5 million new e-bikes to show for it.

And if you’re wondering what it looks like when a country takes electric micromobility seriously, this is it.

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Day 1 of the Electrek Formula Sun Grand Prix 2025 [Gallery]

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Day 1 of the Electrek Formula Sun Grand Prix 2025 [Gallery]

Today was the official start of racing at the Electrek Formula Sun Grand Prix 2025! There was a tremendous energy (and heat) on the ground at NCM Motorsports Park as nearly a dozen teams took to the track. Currently, as of writing, Stanford is ranked #1 in the SOV (Single-Occupant Vehicle) class with 68 registered laps. However, the fastest lap so far belongs to UC Berkeley, which clocked a 4:45 on the 3.15-mile track. That’s an average speed of just under 40 mph on nothing but solar energy. Not bad!

In the MOV (Multi-Occupant Vehicle) class, Polytechnique Montréal is narrowly ahead of Appalachian State by just 4 laps. At last year’s formula sun race, Polytechnique Montréal took first place overall in this class, and the team hopes to repeat that success. It’s still too early for prediction though, and anything can happen between now and the final day of racing on Saturday.

Congrats to the teams that made it on track today. We look forward to seeing even more out there tomorrow. In the meantime, here are some shots from today via the event’s wonderful photographer Cora Kennedy.

Stay tuned for more!

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Tesla sold 5,000 Cybertrucks Q2, Optimus is in chaos, plus: the Infinity Train!

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Tesla sold 5,000 Cybertrucks Q2, Optimus is in chaos, plus: the Infinity Train!

The numbers are in and they are all bad for Tesla fans – the company sold just 5,000 Cybertruck models in Q4 of 2025, and built some 30% more “other” vehicles than it delivered. It just gets worse and worse, on today’s tension-building episode of Quick Charge!

We’ve also got day 1 coverage of the 2025 Electrek Formula Sun Grand Prix, reports that the Tesla Optimus program is in chaos after its chief engineer jumps ship, and a look ahead at the fresh new Hyundai IONIQ 2 set to bow early next year, thanks to some battery specs from the Kia EV2.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

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