Wind turbine blades photographed at a Siemens Gamesa facility in Hull, England, in January 2022.
Paul Ellis | AFP | Getty Images
The CEO of Siemens Energy on Wednesday argued that the energy transition would fail unless his industry addressed a number of issues currently facing the wind power sector.
In an interview with CNBC’s “Squawk Box Europe,” Christian Bruch said his firm was “in the heart of the energy transition” but noted that there were “challenges in wind” especially when it came to supply chains.
“Never forget, renewables like wind roughly, roughly, need 10 times the material [compared to] … what conventional technologies need,” he said.
“So if you have problems on the supply chain, it hits … wind extremely hard, and this is what we see.”
“And this, unfortunately, obviously, leads to the situation [where] … it impacts the overall group results substantially.”
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On Wednesday, Siemens Energy said its “overall performance” had been “held back by the negative development at Siemens Gamesa Renewable Energy,” a wind turbine manufacturer in which it has a majority stake.
In a statement, Siemens Energy said its adjusted earnings before interest, taxes, and amortization — and special items — had fallen to 379 million euros (around $393.8 million) compared to 661 million euros for the 2021 fiscal year.
“While Gas and Power benefited from its turnaround plan and saw adjusted EBITA rise sharply, the increase was more than offset by a wider loss at SGRE,” it added. This was “due to difficulties in the ramp-up of the 5.X onshore platform as well as supply chain delays.”
Siemens Energy posted a net loss of 647 million euros against a 560 million euro loss in the previous year but also reported a record order backlog of 97.4 billion euros.
“Due to the widening loss, and the challenges facing the company now and in the coming year, the executive board of Siemens Energy will suggest to the Supervisory Board not to propose a dividend for 2022 at its annual shareholder meeting in February 2023,” it added.
New management has been installed at SGRE — which has faced a period of turbulence — and Siemens Energy on Wednesday also referenced its announcement in May of a “voluntary cash tender offer to acquire all outstanding shares in SGRE.”
Overall, Bruch appeared optimistic about Siemens Gamesa’s prospects. “I think we have seen now that we have initiated all the relevant measures, and with Jochen Eickholt [SGRE’s new CEO], have a person on board who is step after step, tackling the different elements going forward.”
“And I’m confident that we can tap into this mid-term and long-term fantastic potential of wind, which is there,” he said. “And to be crystal clear, [the] energy transition without wind energy does not work.”
‘No option but to fix it’
Despite this positive outlook, Bruch noted that several issues facing the sector would need to be ironed out. There was, he argued, “still a way to go” when it came to the wind industry maturing.
“How do you manage that business, how do you manage long-term risk,” he said.
“And also — between our customers, the operators and ourselves — how do you distribute risk along the supply chain in a world which is much more volatile, much more difficult, much more multilateral than before.”
There were, he explained, certain areas that the industry needed to fix itself, including sourcing and supply chains.
“And there are certain elements where the market needs to fix certain things,” he added.
This included shortening approval times for projects and distributing risk between operators, who were making “good profits”, and equipment suppliers.
These were the “discussions which we will need to have over the course of the next 12 months to drive this business forward.”
“But there’s no question — if we don’t resolve it as an industry, we are missing a substantial part of the energy transition, and we’ll fail with the energy transition. So there’s no option but to fix it.”
Last week, we reported that the e-bike world had a new motor claiming to be the lightest and most efficient. Now, we’re already seeing TQ’s new TQHPR40 motor proliferate on more road and gravel e-bikes, including the recently announced E-ASTR from Ridely.
Ridley’s new E‑ASTR brings lightweight electric assistance to its already impressive ASTR gravel platform, powered by the cutting-edge TQ HPR40 mid-drive system. Unlike bulkier e‑bike setups, this system adds just 1.17 kg (2.6 lb) at the crank and a discreet 1.46 kg (3.2 lb) and 290 Wh battery hidden within the downtube, keeping the frame’s silhouette nearly identical to the non-electric version of the same bike. According to BikeRumor, riders looking closely might spot only a slightly fatter downtube, internal cable routing, and a handlebar-end LED indicator, giving visual clues without shouting “electric bike.”
What the E‑ASTR gives up in sheer power from the petite motor, it gains in ride feel. The HPR40 is said to deliver a modest 40 Nm of torque and up to 200W of assist, or enough to smooth out climbs or offer a tailwind on gravel without overpowering the rider. With support cut off at 25 km/h (15.5 mph), pedal responsiveness remains natural and fluid. Combined with the ASTR’s race-inspired geometry, the bike looks to offer sharp handling and comfort suited to the rigors of modern gravel routes.
Ridley is currently offering the E‑ASTR in three spec levels: a value SRAM Apex XPLR AXS build €7,199 (or approximately US $8,500), a mid-range SRAM Rival XPLR AXS 1×13 version for €8,199 (or approximately US $9,700), and a top-tier Shimano GRX 2×12 Di2 model for €8,899 (or approximately US $10,500). Each features high-end drivetrains, integrated cockpit options, carbon wheels, and industry-standard gravel brakes and tires. With its race-ready frame and stealthy, lightweight e‑assistance, the E‑ASTR is positioning itself as a high-performance gravel machine that stays true to its roots, delivering help when needed, without overshadowing the rider.
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Wait, you’re telling me that’s an electric bike?!
Ultra-lightweight motors like the TQHPR40 are quietly reshaping the e-bike industry by making electric assistance almost invisible, both in looks and in feel. As systems shrink and integrate more seamlessly into traditional bike frames, they’re opening the door to new categories of performance-oriented e-bikes that preserve the ride dynamics of analog bikes while offering just enough support when it counts.
For riders who value a natural pedaling experience but still want a little help on climbs or longer days, and especially for aging riders who want to maintain their riding habits despite father time taking an impact on joints and muscles, these minimalist systems are proving that you don’t need a bulky battery or a massive motor to get the benefits of going electric. The result is a wave of stealthy, high-performance e-bikes that are less about replacing effort and more about enhancing the ride.
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After a month off trying to wrap our heads around all the chaos surrounding EVs, solar, and everything else in Washington, we’re back with the biggest EV news stories of the day from Tesla, Ford, Volvo, and everyone else on today’s hiatus-busting episode of Quick Charge!
It just gets worse and worse for the Tesla true believers – especially those willing to put their money where Elon’s mouth is! One believer is set to lose nearly $50,000 betting on Tesla’s ability to deliver a Robotaxi service by the end of June (didn’t happen), and the controversial CEO’s most recent spat with President Trump had TSLA down nearly 5% in pre-morning trading.
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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Got news? Let us know! Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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Hyundai is getting ready to shake things up. A new electric crossover SUV, likely the Hyundai IONIQ 2, is set to debut in the coming months. It will sit below the Kona Electric as Hyundai expands its entry-level EV lineup.
Is Hyundai launching the IONIQ 2 in 2026?
After launching the Inster late last year, Hyundai is already preparing to introduce a new entry-level EV in Europe.
Xavier Martinet, President and CEO of Hyundai Europe, confirmed that the new EV will be revealed “in the next few months.” It will be built in Europe and scheduled to go on sale in mid-2026.
Hyundai’s new electric crossover is expected to be a twin to the Kia EV2, which will likely arrive just ahead of it next year.
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It will be underpinned by the same E-GMP platform, which powers all IONIQ and Kia EV models (EV3, EV4, EV5, EV6, and EV9).
Like the Kia EV3, it will likely be available with either a 58.3 kWh or 81.4 kWh battery pack option. The former provides a WLTP range of 267 miles while the latter is rated with up to 372 miles. All trims are powered by a single electric motor at the front, producing 201 hp and 209 lb-ft of torque.
Kia EV2 Concept (Source: Kia)
Although it may share the same underpinnings as the EV2, Hyundai’s new entry-level EV will feature an advanced new software and infotainment system.
According to Autocar, the interior will represent a “step change” in terms of usability and features. The new system enables new functions, such as ambient lighting and sounds that adjust depending on the drive mode.
Hyundai E&E tech platform powered by Pleos (Source: Hyundai)
It’s expected to showcase Hyundai’s powerful new Pleos software and infotainment system. As an end-to-end software platform, Pleos connects everything from the infotainment system (Pleos Connect) to the Vehicle Operating System (OS) and the cloud.
Pleos is set to power Hyundai’s upcoming software-defined vehicles (SDVs) with new features like autonomous driving and real-time data analysis.
Hyundai’s next-gen infotainment system powered by Pleos (Source: Hyundai)
As an Android-based system, Pleos Connect features a “smartphone-like UI” with new functions including multi-window viewing and an AI voice assistant.
The new electric crossover is expected to start at around €30,000 ($35,400), or slightly less than the Kia EV3, priced from €35,990 ($42,500). It will sit between the Inster and Kona Electric in Hyundai’s lineup.
Hyundai said that it would launch the first EV with its next-gen infotainment system in Q2 2026. Will it be the IONIQ 2? Hyundai is expected to unveil the new entry-level EV at IAA Mobility in September. Stay tuned for more info. We’ll keep you updated with the latest.
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