Volvo Cars started the year on a high note as electric vehicle sales expanded 157% in the first three months of 2023, accounting for nearly one in every five cars sold. After an overwhelmingly positive response, Volvo says it was forced to close orders for its new flagship EX90 SUV due to the model year selling out.
As one of the fastest-transforming automakers going electric, Volvo is leading the way toward a sustainable future.
Volvo’s commitment to a cleaner future is paying off. In the first three months of the year, the automaker sold over 30,000 battery electric vehicles (BEVs), representing 18% of its total car sales. In comparison, Volvo’s EV sales accounted for only 8% in the first quarter of 2022.
Electric vehicle sales grew by 157% in Q1 on the heels of two models – the XC40 and the C40 Recharge. XC40 BEV sales surpassed 21,100, compared to 8,100 last year, while C40 sales reached 9,000, up from 3,600 in Q1 2022.
Despite economic headwinds, Volvo remains confident in becoming an all-electric automaker by 2030. The automaker plans to release at least one new EV each year until mid-decade, starting with the EX90.
Volvo closes EX90 SUV orders after selling out
After officially releasing its flagship SUV last November, deemed “the safest vehicle it has ever produced,” Volvo says it had to close EX90 orders due to the model selling out.
I feel proud that the customer response to that car has surpassed our boldest and most ambitious ambitious internal projections. As a result, we have now had to close the order book for the time being because the model year is sold out.
He added that Volvo will open orders for the EX90 again soon. Meanwhile, Volvo is preparing for a big year with another new launch, a new fully electric small SUV, which it will introduce in a few months.
Rowan recently said the new smaller SUV would be aimed at attracting younger buyers with an entry-level price point, bold exterior design, and digital experience.
Volvo’s upcoming smaller SUV will reportedly ride on Geely’s premium SEA architecture, the same used for the upcoming Polestar 4.
Electrek’s Take
Volvo is charging ahead, showing how a legacy automaker can transition to a fully electric future. The automaker aims for a 50% fully electric sales share by 2025 as it works towards a full EV lineup by 2030.
The timeline is well ahead of most legacy automakers. For example, Ford and GM are aiming for around a 50% EV share by then while Kia, Honda, Toyota, and others are even lower.
Several automakers, including Kia, Honda, and Toyota, have recently raised their EV production and sales targets to keep up in the rapidly evolving auto market.
Volvo is demonstrating how the transition should be done. Stay tuned for more on the automaker’s smallest and cheapest EV, due out this summer.
FTC: We use income earning auto affiliate links.More.
It’s been a busy time for the North American EV industry’s transition to NACS, the charging standard originally advanced by Tesla and now standardized by SAE.
But this past couple weeks were supposed to be even busier, with Kia having previously planned to roll out Supercharger access on January 15th, according to an announcement the company made back in September. Unfortunately there was a delay, and Kia owners will have to wait until later this quarter for official support.
In the meantime, though, owners had found that you could trick the system into letting you charge by telling it that you have a Hyundai. Hyundai and Kia both build their EVs on the same E-GMP platform, so there are a lot of similarities between them.
Kia, like Hyundai, is also in the process of shipping some of the first vehicles with a native NACS port, with the 2025 EV6 including a native NACS port, much like the 2025 Ioniq 5 does. So this similarity seemed to be able to trick the Supercharger network, and Kia EV6s could charge on it for a little while, assuming use of a third-party adapter.
But that method no longer works, according to several Kia owners. Now, when attempting to charge at a Tesla Supercharger with an EV6 and adapter, the Tesla app will tell you “Unknown error occurred – Your vehicle is not able to charge at Superchargers at this time.” This has been confirmed to be the case even on Supercharger sites that were previously working.
Probably one of the reasons for this is the use of third-party adapters. While third-party adapters are available, manufacturers are always wary when owners use non-verified equipment – especially when it’s related to the most expensive part of the car, the battery.
Kia themselves told us that “warranty coverage may be impacted by use of a third party or aftermarket adapter, and we expect to have our authorized version available in late Q1 2025” when we contacted them about our previous article (though we’re not sure how that would shake out legally – there are a lot of laws covering car warranties and what can and cannot void them).
This isn’t the first time we’ve seen some mix-ups with Supercharger access. Last November, Tesla announced that Nissan cars had access to Superchargers, but it turned out they jumped the gun. Everything is hunky-dory now for Nissan, and it seems like a bunch of new brands will gain access in the coming months, but we expect a few more fits and starts along the way (chaos tends to happen when you fire the whole Supercharger team for no reason).
But, once EV6s do gain access to Superchargers, we expect to see them show exceptional charge performance. The EV6’s cousin, the Ioniq 5, recently showed that it can charge faster than a Tesla, even on Tesla’s home turf. The EV6 should be able to accomplish similar feats, once it is unleashed onto North America’s biggest charging network.
If you’re looking to buy one of the fastest-charging EVs on the road today, use our link to check local dealers and get in line for when they get the new 2025 Kia EV6s in stock.
But when you’re charging at *home*, charge your electric vehicle using rooftop solar panels. Find a reliable and competitively priced solar installer near you on EnergySage, for free. They have pre-vetted installers competing for your business, ensuring high-quality solutions and 20-30% savings. It’s free, with no sales calls until you choose an installer. Compare personalized solar quotes online and receive guidance from unbiased Energy Advisers. Get started here. – ad*
FTC: We use income earning auto affiliate links.More.
Jaguar Land Rover’s investment arm InMotion Ventures has invested $2 million in rare earth magnets recycling company Cyclic Materials, bringing its Series B funding round to $55 million.
Jaguar Land Rover’s InMotion Ventures has invested in a range of technologies including supply chain traceability, battery repair, reuse and recycling, and now, rare earth magnets recycling.
“Cyclic Materials is leading the way in creating a sustainable supply chain for rare earth elements (REEs) and critical materials,” said Mike Smeed, managing director at InMotion Ventures. “Their innovative technologies address a vital need for rare earth magnets recycling, supporting the automotive industry’s transition toward a cleaner and more resilient future.”
Cyclic Materials says it will use the investment to accelerate the expansion of its operations across North America and Europe, boost its processing capabilities, and refine its recycling technologies.
This Series B extension builds on Cyclic Materials’ earlier $53 million round that already has the backing of BMWi, Microsoft, and Hitachi.
Rare earth magnet recycling
Rare earth magnets are a type of permanent magnet made from alloys of REEs, which are part of a set of 17 chemical elements in the periodic table. Rare earth magnets, particularly neodymium magnets, are essential in electric traction motors in EVs. Their strong magnetic fields help deliver high performance and efficiency, which extend an EV’s driving range and reduce battery load.
Rare earth magnets can also be found in everything from data centers and wind turbines to cell phones and power tools.
However, less than 1% of REEs are currently recycled, while the global demand already exceeds supply and is projected to grow threefold by 2030. Ontario-based Cyclic Materials says its proprietary MagCycle and REEPure technologies recycle REEs from a wide range of end-of-life products, establishing a circular supply chain for recycled Mixed Rare Earth Oxides.
If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. 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. They have 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 Advisers to help you every step of the way. Get started here. –trusted affiliate link*
FTC: We use income earning auto affiliate links.More.
Nissan plans to buy 20 GWh of batteries from SK On, enough to power around 300,000 EVs to be sold in the US. However, after delaying EV production in the US again, when will the new EVs finally arrive?
Nissan revealed plans to invest $500 million in its Canton, Mississippi, plant almost three years ago to prepare the facility for its newest electric vehicles.
Production was initially set to begin in Canton this year, but Nissan pushed the start date back until 2026 last January with concerns over profitability and EV demand. According to the Madison County Journal, the company is now pushing the start date until 2028.
Just yesterday, an Automotive News report claimed Nissan was also canceling plans to build a smaller electric SUV in the US. The SUV was expected to sit between the LEAF and Ariya.
The smaller electric SUV was expected to be the fifth EV built in Canton, following a pair of Nissan and Infiniti electric sedans. Nissan spokesperson Brian Brockman said the company was focusing on other, more profitable projects that would see more demand.
Nissan to buy batteries from SK On for new EVs in the US
Despite the delays, the automaker is still expanding its supply chain in the US to prepare for the upcoming EVs.
A Nikkei report on Thursday claimed that Nissan secured a battery supply from SK On for EV models sold in the US. Nissan agreed to buy 20 GWh of batteries, or enough to power roughly 300,000 EVs.
The automaker will reportedly begin installing the new SK-supplied batteries by 2028, which is when it plans to start building EVs in the US.
Nissan’s battery supply deal comes as the company looks to establish a domestic supply chain for EVs in the US.
Although Nissan announced plans to team up with Honda in December to keep pace with EV leaders like BYD and Tesla, it doesn’t expect to realize any substantial benefits until around 2030.
Nissan Motor’s, including Infiniti’s, US market share has dropped 2.1% over the past five years to just 5.8%. In 2024, the automaker sold just over 31,000 electric vehicles in the US, including roughly 20,000 Ariya models and 11,000 LEAFs.
Honda, which began delivering the Prologue just last March based on GM’s Ultium platform, sold over 33,000 models last year.
The new battery supply deal is a start, but in 2028, Nissan will face an influx of new EV models with which it will have to compete.
FTC: We use income earning auto affiliate links.More.