Connect with us

Published

on

Formula E is back for the start of season nine this weekend at the high-altitude Autodromo Hermanos Rodriguez in Mexico City.

The season includes the new faster, lighter, and much more angular Gen3 car, new tracks, and more.

This is the first time Formula E has opened a season in Mexico City, with the last four seasons being launched in Diriyah, Saudi Arabia. Unlike the last few seasons, the opening race is not a doubleheader this time around – there will only be one race, on Saturday, so if you wait until Sunday to tune in, you’ll miss the live action.

At nearly 2,300m/7,500ft altitude, Mexico City’s track provides an excellent demonstration of the strengths of electric drive. Combustion vehicles that race there have to contend with thinner air, which means less efficient combustion and lower engine power. With electric drive, this isn’t a worry – electric motors work equally well at any elevation.

New car

The most exciting change this year is the new car, which is a big change from last year’s car. The Gen3 spec looks very different than before, with a much more angular look.

They’re also smaller in every dimension – length, width, wheelbase, height, and most importantly weight. Smaller cars mean there’s more room on the track, which can potentially mean more overtakes on track. Smaller, lighter cars also perform better, since there’s less weight to push around in turns or during acceleration or braking.

But the biggest and most interesting change is in the powertrain. In addition to a boost to 350kW of power (as compared to 250kW in Gen2) and top speed of 200mph, the Gen3 car also has an additional 250kW front motor specifically for regenerative braking. This makes the Formula E Gen3 car the first Formula car to have both front and rear powertrains.

This means the car is capable of regenerating up to 600kW of power under braking, more than double what it could last year. So the cars will be more efficient and, therefore, able to go further and faster.

In fact, there’s so much energy recovery available from the motors that the car won’t even have rear brakes. Instead of rear friction brakes, the car relies only on its 350kW motor for rear braking. It still has front friction brakes, given that the front axle does the majority of work during braking due to load transfer, but the front brakes won’t need to be as large since they’re backed up by the front motor.

That said, these two powertrains do not make the Gen3 car an all-wheel drive vehicle. Like other formula cars, it still gets all of its acceleration power from the rear axle. But theoretically it would be possible to move to all-wheel drive without a significant car redesign, so we wonder if that might be in the Gen3 car’s future.

That power now goes through Hankook instead of Michelin tires, as Formula E has changed tire suppliers for the first time. But the tires will remain all-weather, treaded tires, suitable for street racing even in wet(-ish) conditions, rather than racing slicks like most racing cars use, which offer much better grip in dry conditions. So between a more powerful rear motor and all-weather tires, Formula E cars will continue to be squirrelly on corner exit, testing driver skill at every turn.

So there isn’t that much of a change in balance during acceleration, but the new car should offer a totally different braking experience, which will take the drivers some time to get used to, especially the first time they take to the track in anger this weekend. We expect some interesting passing opportunities in the early half of the season.

That 600kW of total system regenerative braking capacity is relevant in another way, too. The car’s battery is capable of up to 600kW DC quick charging. Not only does this get used in the race by the braking system, but Formula E plans to add mid-race charging pit stops this year.

In races with these pit stops, the series will require that every driver make a short charging stop, and doing so will unlock activations of “attack mode,” a higher power mode which gives the cars a boost in energy for a few minutes at a time. This change should add more passing and dynamism to the race, while also demonstrating 600kW charging, twice the speed of the fastest consumer chargers.

All of this put together resulted in cars going about half a second faster around the test track in Valencia during pre-season testing last month, part of which was in wet conditions, which meant teams didn’t get as many dry laps as they’d like. While half a second doesn’t sound like a lot, it’s quite a bit in racing – and it’s also a comparison between an outgoing powertrain and an incoming one.

Whenever technology changes happen, it takes a while for teams and drivers to get used to them, and for changes this significant, we can imagine there will be quite a learning curve. We wouldn’t be surprised if the cars end up even faster after shaking out the new technology through the rest of the season.

New tracks

The race calendar is the biggest change we’ve seen in a while, with four new circuits that Formula E has never raced on before: Hyderabad, India; Cape Town, South Africa; São Paulo, Brazil; and Portland, Oregon.

Formula e schedule
Formula E’s revised season 9 schedule / Source: FIA

As with other Formula E seasons, particularly during the time of COVID, the calendar is subject to change. Previously the series planned to race again in Seoul, South Korea, which closed out the last season of racing. But that race had to be cancelled due to renovations and was replaced by Cape Town. But the four new circuits still need to be certified by the FIA for race preparedness, so it’s entirely possible we will see some changes to the calendar.

Hyderabad will host the first Formula E race in India, home of Mahindra racing, a longstanding fan favorite team in the series. Cape Town isn’t the first time Formula E has visited Africa – but the other visits have been in North Africa, so it’s the first sub-Saharan site the series has visited. São Paulo is the first time Formula E has visited race-obsessed Brazil, a country with a long history and rabid fanbase in motorsport, though the series has visited nearby Uruguay, Argentina, and Chile many times. And Portland will be the fourth location in the United States that has seen a Formula E race, behind Long Beach, Miami and New York. We’ve now seen one race in each corner of the United States. (Sorry middle America – you’re next perhaps?)

Other changes

One long-awaited rule change, at least amongst motorsport fans, is the end of FanBoost.

FanBoost was conceived in the original season of Formula E as a way to drive fan engagement. Fans could vote for their favorite driver on social media and the top three drivers would get a short boost of power they could use at any point during the race.

While it rarely had a big effect on racing, especially in recent years as the boosts got shorter, many motorsport fans immediately dismissed the series thinking that FanBoost sullied the purity of it all (as motorsport fans are wont to say about … almost everything).

As happens every season and even mid-season, drivers have shifted from team to team and even the teams have made some shifts as well.

Defending champion Stoffel Vandoorne, who won last year with Mercedes, has shifted to DS Penske (formerly DS Techeetah), alongside two-time champion Jean-Eric Vergne. Mercedes was last year’s constructor’s champion, but they have left the series, and their team is now in the hands of McLaren.

In addition to McLaren taking over for Mercedes, we’ve had other team changes as well. Nissan has taken full ownership of the e.dams team, the ABT team is back with the help of Cupra after missing last year due to ending their relationship with Audi, DS has cut ties with Techeetah and partnered with Penske instead, and Maserati has taken over the ROKiT Venturi team in their first return to racing as a constructor since the 1950s.

Several drivers have shifted teams or departed the series (including veteran and longtime EV advocate Alexander Sims, who we’re sad to see go). But we want to focus on the two new drivers: Sacha Fenestraz and Jake Hughes.

Fenestraz participated in the very last race of last season (taking over for Giovinazzi after a hand injury), so he’s essentially a rookie this year. He’s a French former Formula Renault Eurocup champion and has been a Formula E reserve driver for Jaguar for the last few seasons.

Hughes has raced in several series, and is a former champion of the BRDC Formula 4, now known as the GB3 championship, which is the top single-seater racing category in Britain, where Hughes hails from. He served as a reserve and development driver for Mercedes’ team for the last two seasons and will start racing this weekend, with McLaren.

The racing starts on Saturday January 14 at 2:00 pm local Mexico City time, which is noon Pacific Time, 3:00 pm Eastern and 8:00 pm UTC. The race will be aired on CBS Sports Network in the United States (though it looks like it will be shown delayed at 11:30 pm Eastern). Practice sessions will be streamed on YouTube.

If you’re not in the United States, you can check the Formula E website for ways to watch in your country. If you can’t find a way to watch the race live, Formula E usually uploads race highlights to their youtube channel within days, though we don’t know whether they’ll be posting full races on there as this seems to change season to season.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

Published

on

By

Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, U.S., March 25, 2021.

Handout | Via Reuters

Block jumped more than 5% on Monday, leading a rally in shares of fintech companies as analysts downplayed the threat of JPMorgan Chase’s reported plan to charge data aggregators for access to customer financial information.

The recovery followed steep declines on Friday, after Bloomberg reported that JPMorgan had circulated pricing sheets outlining potential fees for aggregators like Plaid and Yodlee, which connect fintech platforms to users’ bank data.

In a note to clients on Monday, Evercore ISI analysts said the potential new expenses were “far from a ‘business model-breaking’ cost increase.”

In addition to Block’s rise, PayPal climbed 3.5% on Monday after sliding Friday. Robinhood and Shift4 recorded modest gains.

Broader market momentum helped fuel some of the rebound. The Nasdaq closed at a record, and crypto rallied, with bitcoin climbing past $123,000. Ether, solana, and other altcoins also gained.

JPMorgan announces plans to charge for access to customer bank data

Evercore ISI’s analysts said that even if JPMorgan’s changes were implemented, the most immediate effect would be a slight bump in the cost of one-time account setups — perhaps 50 to 60 cents.

Morgan Stanley echoed that view, writing that any impact would be “negligible,” especially for large fintechs that rely more on debit, credit, or stored balances than bank account pulls for transactions.

PayPal doesn’t anticipate much short-term impact, according to a person with knowledge of the issue. The person, who asked not to be named in order to speak about private financial matters, noted that PayPal relies on aggregators primarily for account verification and already has long-term pricing contracts in place.

While smaller fintechs that depend heavily on automated clearing house (ACH) rails or Open Banking frameworks for onboarding and compliance may face real pressure if the fees take effect, analysts said the larger platforms are largely insulated.

WATCH: Congress moves to redraw $3.7 trillion crypto market rules, opening door to Wall Street

Congress moves to redraw $3.7 trillion crypto market rules, opening door to Wall Street

Continue Reading

Environment

EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

Published

on

By

EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

The global EV market is still charging ahead. According to new numbers from global research firm Rho Motion, 9.1 million EVs were sold worldwide in the first half of 2025, up 28% compared to the same period last year. But not every region is accelerating at the same pace.

China and Europe are doing the heavy lifting

More than half of the world’s EVs this year have been bought in China. That market hit 5.5 million sales in the first six months of 2025 – a 32% jump year-over-year. Around half of new cars bought in China are now electric.

While some Chinese cities’ subsidies have dried up, Rho Motion expects momentum to pick back up later in the year as more funding is released.

In Europe, 2 million EVs were sold in the first half of the year, up 26%. Battery electric vehicle (BEV) sales also rose 26%, thanks in part to affordable models like the Renault 4 (pictured) and 5 entering the market. Plug-in hybrids (PHEVs) weren’t far behind, growing 27% year-to-date. Chinese automakers are leaning into PHEVs as a way to work around the EU’s new tariffs on BEVs.

Advertisement – scroll for more content

Spain is leading the pack with EV sales soaring 85% so far this year. Its generous MOVES III incentive program was extended in April and has kept sales strong. The UK and Germany are also seeing solid growth – 32% and 40%, respectively. France, however, is slumping. With subsidies cut, EV sales there have dropped 13%.

North America is stuck in the slow lane

Things aren’t looking quite as bright in North America. EV sales in the US, Canada, and Mexico are up just 3% so far this year.

Mexico is the one bright spot, with a 20% boost. The US is up 6%. But Canada is down a whopping 23%.

And things could get bumpier. On July 4, Trump signed Congress’s big bill into law, which axes all the Inflation Reduction Act EV tax credits. Those consumer credits for EVs now officially end on September 30.

Just over half of the EVs sold in the US this year qualified for those credits. Rho Motion predicts a rush in Q3 before the subsidies disappear – and a decline in sales after that.

Rho Motion data manager Charles Lester said, “With Trump’s latest cuts in his ‘Big Beautiful Bill,’ the US could struggle to see any growth in the EV market overall in 2025.”

Global EV sales snapshot, H1 2025 vs H1 2024

  • Global: 9.1 million (+28%)
  • China: 5.5 million (+32%)
  • Europe: 2.0 million (+26%)
  • North America: 0.9 million (+3%)
  • Rest of world: 0.7 million (+40%)

Read more: China breaks records as global EV sales hit 7.2 million in 2025


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. 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. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

The Lucid Air is crushing the competition as the best-selling luxury EV sedan in the US

Published

on

By

The Lucid Air is crushing the competition as the best-selling luxury EV sedan in the US

Lucid’s electric sedan can drive further, charge faster, and packs more advanced tech than most of the competition. That might explain why it’s leading the segment. The Lucid Air remained the best-selling luxury EV sedan in the US after widening its lead in the Q2.

The Lucid Air is America’s best-selling luxury EV sedan

The 2025 Lucid Air Pure arrived as the “World’s most efficient car” with an EPA-estimated range of 420 miles and a record 146 MPGe.

It just set a new Guinness World Record last week for the longest journey by an electric car after travelling 749 miles (1,205 km) on a single charge.

That record was set in the range-topping Lucid Air Grand Touring model, which is rated for up to 512 miles of EPA-estimated range. On the WLTP scale, it’s rated at 597 miles (960 km). Either way, it still crushed the estimates.

Advertisement – scroll for more content

According to second-quarter sales data, released by Kelley Blue Book on Monday, the Lucid Air is still America’s best-selling luxury EV.

Lucid sold 2,630 Air models in Q2, up 10% from the previous year. Through the first half of 2025, Lucid Air sales are up 17% with 5,094 units sold.

Lucid-Air-best-selling-luxury-EV-sedan
Lucid Air (Source: Lucid)

Tesla, on the other hand, only sold 1,435 Model Ss during the quarter, 71% fewer than it did in Q2 2024. Tesla Model S sales in the US are down 70% through the first half of the year at 2,715.

Although Porsche Taycan sales were up 32% with 1,064 models sold, the significantly upgraded 2025 model year was expected to see even more demand. Porsche has 2,083 Taycans in the US this year, up just 1% from 2024.

Lucid-best-selling-luxury-EV-sedan
Lucid Air Pure interior (Source: Lucid)

Other luxury EV sedans, such as the BMW i5 (1,434), i7 (820), and the Mercedes EQS (498), experienced steep double-digit sales declines year-over-year.

And it’s not just electric luxury sedans. The Lucid Air is currently outselling many gas-powered vehicles in its segment.

Lucid-Air-best-selling-luxury-EV-sedan
Lucid Air (left) and Gravity (right) Source: Lucid

Lucid’s first electric SUV, the Gravity, is also rolling out. Although only five were sold in the second quarter, Lucid is quickly scaling production. Lucid aims to produce 20,000 vehicles this year, more than double the roughly 9,000 it built in 2024.

Earlier today, Lucid’s interim CEO, Marc Winterhoff, confirmed during an interview with Bloomberg that the company expects higher Gravity output in the second half of the year.

The interview was at the grand opening of Panasonic’s new battery cell plant in De Soto, Kansas. Winterhoff said Lucid will start using new cells from the facility, but not until next year.

Lucid’s CEO stressed the importance of establishing a local supply chain, as policy changes under the Trump Administration are taking effect. Lucid and Panasonic are collaborating to localize EV materials, such as graphite. Last month, Lucid secured a multi-year supply agreement with Graphite One for US-sourced Graphite.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending