Connect with us

Published

on

Canadians gather! If you’re looking to go electric, there is an expansive program at your disposal offering varying levels of incentives for EV purchases and leases in Canada. We’ve compiled everything you need to know below, alongside an ever-growing list of vehicles that qualify.

Table of contents

EV incentives remain available in Canada

As a US-born citizen, much of my coverage of incentives in the past has pertained to my native country. However, a reader recently pointed out that a Canada-centric version of my long-running list of available US tax incentives would be welcomed by consumers up north as well.

My deepest apologies, Canada – I had no intention of leaving you in the dark for this long. As many of you are probably aware, there are purchase incentives for EVs available to consumers in Canada that are currently much more abundant (and easier to qualify for) than current US credits.

Good on you, Canada, and all the more reason to take advantage of the nation’s Incentives for Zero-Emission Vehicles (iZEV) Program. Below, you will find the details of the incentive program itself, how a given vehicle can or cannot qualify, and how you yourself can take advantage of the deals for going electric.

Lastly, we have compiled the current and up-to-date list of vehicles that qualify for purchase incentives per Transport Canada. Let’s begin with the program itself.

How the Incentives for Zero-Emission Vehicles (iZEV) Program works

Like all government-regulated programs, there is a lot of legal jargon and red tape to navigate through. Sometimes you just want to know what qualifies and what doesn’t.

Luckily for consumers up north, Canada’s iZEV program is relatively straightforward, and the government does a wonderful job of explaining it. Per Transport Canada:

The iZEV Program offers point-of-sale incentives for consumers (subject to funding availability) who buy or lease a ZEV vehicle. Only the vehicles listed on our website are eligible for an incentive when they’re purchased or leased for at least 12 months, on or after the eligibility date.

What types of EV incentives are available in Canada?

In total, there are three different types of electric vehicles that currently qualify for some level of incentives in Canada. From there, plug-in hybrids are divided one step further based on the all-electric range their batteries can deliver. Here’s how the incentive amounts currently breakdown:

  • Battery-electric (BEV), hydrogen fuel cell (FCEV), and longer-range plug-in hybrid vehicles (PHEV) are eligible for up to $5,000 CAD.
    • To qualify as “longer range plug-ins,” the vehicles must have an electric range equal to or greater than 50 km.
  • Shorter-range plug-in hybrid electric vehicles are eligible for up to $2,500 CAD.
    • Shorter-range plug-in vehicles have an electric range under 50 kilometers.
Ford-Europe-battery-plant-1
Ford Mustang Mach-E (Source: Ford)

What electric vehicles qualify for incentives in Canada?

In Canada, a slew of all-electric and plug-in hybrid electric vehicles qualify for at least some amount of incentives as long as they meet the qualifications laid out by Transport Canada. For example, each vehicle must meet all of the country’s Motor Vehicle Safety Standards.

Additionally, each qualifying vehicle must be built for driving on public streets, roads, and highways (no low-speed vehicles). The vehicle must also have at least four functioning wheels. Sorry, Aptera.

Qualifying vehicle types are split into two separate groups, which qualify for their own respective purchase incentives based on price:

  • A passenger car, where the base model manufacturer’s suggested retail price (MSRP) is less than $55,000 CAD.
    • Higher-priced trims of those EVs may also qualify for purchase incentives in Canada for a maximum MSRP of $65,000 CAD.
  • A station wagon, pickup truck (light truck), SUV, minivan, van, or special purpose vehicle, where the base model MSRP is less than $60,000 CAD.
    • Higher-priced trims of these vehicles are also eligible for purchase incentives for MSRPs up to $70,000 CAD maximum.

Per Transport Canada, here are other terms zero-emission vehicles must follow as part of the incentive program:

  • Only new vehicles are eligible for the federal incentive (EVs that haven’t been plated before).
  • Eligible ZEVs that were previously demo vehicles used for test drives are considered new vehicles and are eligible for the incentive as long as the odometer reads less than 10,000 kilometers.
  • Incentives can be applied to eligible ZEVs leased for at least 12 months but will be prorated based on any lease length of less than 48 months.
    • For example, a 48-month lease is eligible for the full incentive, while a vehicle with a 24-month lease will be eligible for half the incentive. (See table below.)
  • Vehicles are still eligible for the incentive even if delivery, freight, and other fees (like exterior color, add-ons, accessories, and packages) push the actual purchase price over these set limits.
  • As long as a given EV’s make, model, trim and year appears on Transport Canada’s list of eligible vehicles, an incentive can be awarded.

We have compiled those qualifying lists for you below.

Qualifying battery electric vehicles (BEVs)

As promised, here are the current battery electric vehicles (BEVs) that qualify for purchase incentives per Transport Canada. We will ensure this list is updated regularly so you’re getting the most up-to-date details.

Note: All incentive amounts are in Canadian dollars.

Make, Model, Year(s) Incentive for Full Purchase / 48Month Lease 36-Month Lease 24-Month Lease 12-Month Lease
AUDI
Q4 e-tron Quattro (2022) $5,000 $3,750 $2,500 $1,250
Q4 50 e-tron Quattro (2023) $5,000 $3,750 $2,500 $1,250
BMW
i3 s (2018-2021) $5,000 $3,750 $2,500 $1,250
i4 eDrive40
(2022-2023)
$5,000 $3,750 $2,500 $1,250
i4 eDrive34 (2023) $5,000 $3,750 $2,500 $1,250
CHEVROLET (GM)
Bolt LT/2LT/Premier/2LZ
(2018-2021)
$5,000 $3,750 $2,500 $1,250
Bolt LT (2022) $5,000 $3,750 $2,500 $1,250
Bolt EV LT (2023) $5,000 $3,750 $2,500 $1,250
Bolt EUV LT/Premier
(2022-2023)
$5,000 $3,750 $2,500 $1,250
FORD
Focus Electric (2018) $5,000 $3,750 $2,500 $1,250
Mustang Mach-E (all trims) (2022-2023) $5,000 $3,750 $2,500 $1,250
HYUNDAI
IONIQ 5 (2023)
Preferred/ Preferred Long Range/ Preferred AWD Long Range
$5,000 $3,750 $2,500 $1,250
IONIQ 5 (2022)
Essential/Preferred/Preferred Long Range/Preferred AWD Long Range
$5,000 $3,750 $2,500 $1,250
IONIQ 6 (2023)
Preferred RWD Long Range/ Preferred AWD Long Range
$5,000 $3,750 $2,500 $1,250
Kona Electric Preferred/Preferred
(2-tone)/ Ultimate (2022-2023)
$5,000 $3,750 $2,500 $1,250
Kona Electric Essential/Preferred/ Preferred (2-tone)/ Ultimate (2020-2021) $5,000 $3,750 $2,500 $1,250
Kona Electric Essential/Preferred/ Preferred (2-tone)/ Ultimate (2020-2021) $5,000 $3,750 $2,500 $1,250
Kona Electric Preferred/Ultimate (2019) $5,000 $3,750 $2,500 $1,250
Ioniq Electric Preferred/Ultimate
(2019-2021)
$5,000 $3,750 $2,500 $1,250
Ioniq Electric SE/SE CCP/Limited
(2017-2018)
$5,000 $3,750 $2,500 $1,250
KIA
EV6 RWD Standard Range/RWD Long Range/AWD Long Range (2022-2023) $5,000 $3,750 $2,500 $1,250
Niro EV Premium/Premium+/Limited (2023) $5,000 $3,750 $2,500 $1,250
Niro EV EX/EX+/SX Touring (2021-2022) $5,000 $3,750 $2,500 $1,250
Niro EV EX/SX Touring (2019-2020) $5,000 $3,750 $2,500 $1,250
Soul EV Premium/Limited (2021-2023) $5,000 $3,750 $2,500 $1,250
Soul EV Luxury/Luxury Sunroof/ Premium/Limited (2017-2020) $5,000 $3,750 $2,500 $1,250
MINI
Cooper SE Base/Premier Line 2.0/Premier+ Line 2.0 (2024) $5,000 $3,750 $2,500 $1,250
Cooper SE 3 Door/Hatch (2022-2023) $5,000 $3,750 $2,500 $1,250
Cooper SE 3 Door Classic/Premier/ Premier+ (2020-2021) $5,000 $3,750 $2,500 $1,250
MAZDA
MX-30 GS/GT (2022-2023) $5,000 $3,750 $2,500 $1,250
MITSUBISHI
i-MiEV (2017) $5,000 $3,750 $2,500 $1,250
NISSAN
Ariya (all trims) (2023) $5,000 $3,750 $2,500 $1,250
LEAF SV/SV Plus/SL Plus (2023) $5,000 $3,750 $2,500 $1,250
LEAF SV/S Plus/SV Plus/SL Plus (2021-2022) $5,000 $3,750 $2,500 $1,250
LEAF S/SV/S Plus/SV Plus/SL Plus (2020) $5,000 $3,750 $2,500 $1,250
LEAF S/SV/SL/S Plus/SV Plus/SL Plus (2018-2019) $5,000 $3,750 $2,500 $1,250
POLESTAR
2 Long Range Single Motor/Long Range Dual Motor (2023-2023) $5,000 $3,750 $2,500 $1,250
smart
EQ fortwo cabriolet (2018-2019) $5,000 $3,750 $2,500 $1,250
EQ fortwo coupe (2018-2019) $5,000 $3,750 $2,500 $1,250
fortwo electric drive coupe (2017-2018) $5,000 $3,750 $2,500 $1,250
fortwo electric drive coupe (2017-2018) $5,000 $3,750 $2,500 $1,250
SUBARU
Solterra AWD (2023) $5,000 $3,750 $2,500 $1,250
TESLA
Model 3 RWD (2023) $5,000 $3,750 $2,500 $1,250
Model Y RWD/Long Range AWD (2023) $5,000 $3,750 $2,500 $1,250
TOYOTA
bZ4X L FWD/LE FWD/XLE AWD (2023) $5,000 $3,750 $2,500 $1,250
VOLKSWAGEN
ID.4 RWD/Pro RWD/Pro AWD (2023) $5,000 $3,750 $2,500 $1,250
ID.4 Pro/Pro AWD (2021-2022) $5,000 $3,750 $2,500 $1,250
e-Golf Comfortline (2017-2020) $5,000 $3,750 $2,500 $1,250
VOLVO
C40 Recharge (2023) $5,000 $3,750 $2,500 $1,250
XC40 Recharge (2022-2023) $5,000 $3,750 $2,500 $1,250
Last updated May 11, 2023.
Canada EV incentives
The Hyundai IONIQ 6 / Credit: Hyundai North America

Plenty of plug-in hybrid electric vehicles (PHEVs) also qualify

Whereas battery EVs all qualify for up to $5,000 in incentives in Canada, PHEVs are a bit trickier and vary in eligible amounts based on a number of factors, including the make, model, and trim. Still, many models qualify for at least some level of purchase incentives and are worth checking.

Here are electrified models which currently qualify in Canada:

Make, Model, Year(s) Incentive for Full Purchase / 48Month Lease 36-Month Lease 24-Month Lease 12-Month Lease
AUDI
A3 Sportback e-tron (2017) $2,500 $1,875 $1,250 $625
BMW
330e RWD/xDrive (2021-2023) $2,500 $1,875 $1,250 $625
X3 xDrive30e (2021-2022) $2,500 $1,875 $1,250 $625
i3 w/Range Extender (2018-2021) $5,000 $3,750 $2,500 $1,250
i3 s w/Range Extender (2018-2021) $5,000 $3,750 $2,500 $1,250
CHEVROLET
Volt LT/2LT/Premier/2LZ (2018-2019) $5,000 $3,750 $2,500 $1,250
CHRYSLER
Pacifica Hybrid Touring L/Limited/ Pinnacle (2022-2023) $5,000 $3,750 $2,500 $1,250
Pacifica Hybrid Touring/Touring L-Plus/Limited/Pinnacle (2021) $5,000 $3,750 $2,500 $1,250
Pacifica Hybrid Touring/Touring L /Limited (2020) $5,000 $3,750 $2,500 $1,250
Pacifica Hybrid Touring/Touring L Touring Plus/Premium/Platinum Limited (2017-2019) $5,000 $3,750 $2,500 $1,250
FORD
Escape PHEV (2023) $5,000 $3,750 $2,500 $1,250
Escape PHEV SE/SEL/Titanium (2020-2022) $5,000 $3,750 $2,500 $1,250
Focus Electric (2018) $5,000 $3,750 $2,500 $1,250
Fusion Energi SEL/Titanium (2020) $2,500 $1,875 $1,250 $625
Fusion Energi SEL/Titanium/Platinum (2018-2019) $2,500 $1,875 $1,250 $625
HONDA
Clarity Plug-in Hybrid Base/Touring (2018-2021) $5,000 $3,750 $2,500 $1,250
HYUNDAI
Santa Fe PHEV Preferred/Luxury (2022-2023) $5,000 $3,750 $2,500 $1,250
Tucson PHEV Luxury/Ultimate
(2022-2023)
$5,000 $3,750 $2,500 $1,250
Ioniq Plug-In Hybrid Essential/ Preferred/Ultimate (2021-2022) $2,500 $1,875 $1,250 $625
Ioniq Plug-In Hybrid Preferred/Ultimate (2020) $2,500 $1,875 $1,250 $625
Ioniq Electric Plus Preferred/Ultimate (2019) $2,500 $1,875 $1,250 $625
Ioniq Electric Plus SE/Limited (2018) $2,500 $1,875 $1,250 $625
Sonata PHEV Ultimate (2017-2019) $2,500 $1,875 $1,250 $625
JEEP
Wrangler 4xe Unlimited Sahara/ Unlimited Rubicon/Willys (2022-2023) $2,500 $1,875 $1,250 $625
Wrangler 4xe Unlimited Sahara/ Unlimited Sahara High Altitude/ Unlimited Rubicon/ (2021) $2,500 $1,875 $1,250 $625
KIA
Niro PHEV EX (2023) $5,000 $3,750 $2,500 $1,250
Niro PHEV EX/EX Premium/SX Touring (2021-2022) $2,500 $1,875 $1,250 $625
Niro PHEV EX Premium/SX Touring (2019-2020) $2,500 $1,875 $1,250 $625
Optima PHEV EX/EX Premium
(2017-2020)
$2,500 $1,875 $1,250 $625
Sorento PHEV EX/EX+/SX
(2022-2023)
$5,000 $3,750 $2,500 $1,250
Sportage PHEV EX Premium/SX (2023) $5,000 $3,750 $2,500 $1,250
LEXUS
NX 450h+ (2022-2024) $5,000 $3,750 $2,500 $1,250
LINCOLN
Corsair Grand Touring (2021-2023) $2,500 $1,875 $1,250 $625
MINI
Countryman ALL4 (2018-2023) $2,500 $1,875 $1,250 $625
MAZDA
CX-90 GS/GS-L/GT (2024) $2,500 $1,875 $1,250 $625
MITSUBISHI
Outlander PHEV ES/LE/SEL/GT/
GT Premium (2023)
$5,000 $3,750 $2,500 $1,250
Outlander PHEV SE/LE/Black Edition/ GT (2022) $2,500 $1,875 $1,250 $625
Outlander PHEV SE/LE/SEL/GT (2020-2021) $2,500 $1,875 $1,250 $625
Outlander PHEV SE-Base/SE Limited Edition/SE Touring/GT (2018-2019) $2,500 $1,875 $1,250 $625
SUBARU
Crosstrek Plug-In Hybrid Limited (2020-2023) $2,500 $1,875 $1,250 $625
TOYOTA
Prius Prime SE/XSE/XSE Premium (2023) $5,000 $3,750 $2,500 $1,250
Prius Prime Base/Technology (2022) $2,500 $1,875 $1,250 $625
Prius Prime Base/Upgrade (2021) $2,500 $1,875 $1,250 $625
Prius Prime Base/Upgrade/
Technology (2018-2020)
$2,500 $1,875 $1,250 $625
RAV4 Prime SE/XSE/XSE Technology (2023) $5,000 $3,750 $2,500 $1,250
RAV4 Prime SE/XSE (2021-2022) $5,000 $3,750 $2,500 $1,250
VOLVO
V60 Recharge (2022-2023) $5,000 $3,750 $2,500 $1,250
Last updated May 11, 2023.

FAQ

How long will incentives from Canada’s iZEV Program be available?

The Incentives for Zero-Emission Vehicles (iZEV) Program is continuing until March 31, 2025 (or until available funding is exhausted).

How much money does the EV purchase incentive offer in Canada?

That number varies based on a number of factors. Simply put, any vehicle that meets Canada’s criteria outlined above can qualify for at least $625 and can go as high as $5,000.

How do I receive Canada’s ZEV incentive?

The incentive is applied at the point of sale by the dealership when you purchase your brand-new EV. It will appear directly on the bill of sale or lease agreement on eligible ZEVs on, or after, the eligibility date.

Note: The dealer must apply taxes and fees to the purchase or lease before applying the incentive and must submit the proper documentation to be reimbursed for the incentive provided to you, the consumer.

Can my vehicle purchase also qualify for provincial or territorial incentives?

Yes. In addition to the federal incentive program, your EV purchase may also qualify for any additional incentives offered in your given province or territory in Canada.

Can I use a tax write-off for my ZEV purchase if I receive a federal incentive?

No. It must be one or the other. Budget 2019 provided a separate tax write-off for zero-emission vehicles to support business adoption. For more information on tax write-offs for electric vehicles, contact the Canada Revenue Agency at 1-800-959-5525.

Can I qualify for federal incentives for more than one EV purchase?

Depends. Canadian individuals are eligible for one incentive under this program per calendar year. Businesses or provincial/territorial and municipal governments operating fleets are eligible for up to 10 incentives under the iZEV program per calendar year.

How do Canada’s federal EV incentives compare to the United States?

Great question. Currently, more electric vehicles in Canada qualify for incentives, but it’s a lot of the same vehicles. Qualifying terms also vary with neighbors to the south following the signing of the Inflation Reduction Act by President Biden in the summer of 2022. You can check out the US’ current federal tax credits for EVs here.

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

Continue Reading

Environment

Tesla Semi suffers more delays and ‘dramatic’ price increase

Published

on

By

Tesla Semi suffers more delays and 'dramatic' price increase

According to a Tesla Semi customer, the electric truck program is suffering more delays and a price increase that is described as “dramatic.”

Tesla Semi has seen many delays, more than any other vehicle program at Tesla.

It was initially unveiled in 2017, and CEO Elon Musk claimed that it would go into production in 2019.

In late 2022, Tesla held an event where it unveiled the “production version” of the Tesla Semi and delivered the first few units to a “customer-partner”: PepsiCo.

Advertisement – scroll for more content

Tesla Semi PepsiCo truck u/Tutrifor
Tesla Semi Image credit: u/Tutrifor

More than 3 years later, the vehicle never went into volume production. Instead, Tesla only ran a very low volume pilot production at a factory in Nevada and only delivered a few dozen trucks to customers as part of test programs.

But Tesla promised that things would finally happen for the Tesla Semi this year.

Tesla has been building a new high-volume production factory specifically for the Tesla Semi program in a new building next to Gigafactory Nevada.

The goal was to start production in 2025, start customer deliveries, and ramp up to 50,000 trucks yearly.

Now, Ryder, a large transportation company and early customer-partner in Tesla’s semi truck program, is talking about further delays. The company also refers to a significant price increase.

California’s Mobile Source Air Pollution Reduction Review Committee (MSRC) awarded Ryder funding for a project to deploy Tesla Semi trucks and Megachargers at two of its facilities in the state.

Ryder had previously asked for extensions amid the delays in the Tesla Semi program.

In a new letter sent to MSRC last week and obtained by Electrek, Ryder asked the agency for another 28-month delay. The letter references delays in “Tesla product design, vehicle production” and it mentions “dramatic changes to the Tesla product economics”:

This extension is needed due to delays in Tesla product design, vehicle production and dramatic changes to the Tesla product economics. These delays have caused us to reevaluate the current Ryder fleet in the area.

The logistics company now says it plans to “deploy 18 Tesla Semi vehicles by June 2026.”

The reference to “dramatic changes to the Tesla product economics” points to a significant price increase for the Tesla Semi, which further communication with MSRC confirms.

In the agenda of a meeting to discuss the extension and changes to the project yesterday, MSRC confirms that the project went from 42 to 18 Tesla Semi trucks while the project commitment is not changing:

Ryder has indicated that their electric tractor manufacturer partner, Tesla, has experienced continued delays in product design and production. There have also been dramatic changes to the product economics. Ryder requests to reduce the number of vehicles from 42 to 18, stating that this would maintain their $7.5 million private match commitment.

In addition to the electric trucks, the project originally involved installing two integrated power centers and four Tesla Megachargers, split between two locations. Ryder is also looking to now install 3 Megachargers per location for a total of 6 instead of 4.

Tesla Semi Megacharger hero

The project changes also mention that “Ryder states that Tesla now requires 600kW chargers rather than the 750kW units originally engineered.”

Tesla Semi Price

When originally unveiling the Tesla Semi in 2017, the automaker mentioned prices of $150,000 for a 300-mile range truck and $180,000 for the 500-mile version. Tesla also took orders for a “Founder’s Series Semi” at $200,000.

However, Tesla didn’t update the prices when launching the “production version” of the truck in late 2023. Price increases have been speculated, but the company has never confirmed them.

New diesel-powered Class 8 semi trucks in the US today often range between $150,000 and $220,000.

The combination of a reasonable purchase price and low operation costs, thanks to cheaper electric rates than diesel, made the Tesla Semi a potentially revolutionary product to reduce the overall costs of operation in trucking while reducing emissions.

However, Ryder now points to a “dramatic” price increase for the Tesla Semi.

What is the cost of a Tesla Semi electric truck now?

Electrek’s Take

As I have often stated, Tesla Semi is the vehicle program I am most excited about at Tesla right now.

If Tesla can produce class 8 trucks capable of moving cargo of similar weight as diesel trucks over 500 miles on a single charge in high volume at a reasonable price point, they have a revolutionary product on their hands.

But the reasonable price part is now being questioned.

After reading the communications between Ryder and MSRC, while not clear, it looks like the program could be interpreted as MSRC covering the costs of installing the charging stations while Ryder committed $7.5 million to buying the trucks.

The math makes sense for the original funding request since $7.5 million divided by 42 trucks results in around $180,000 per truck — what Tesla first quoted for the 500-mile Tesla Semi truck.

Now, with just 18 trucks, it would point to a price of $415,000 per Tesla Semi truck. It’s possible that some of Ryder’s commitment could also go to an increase in Megacharger prices – either per charger or due to the two additional chargers. MSRC said that they don’t give more money when prices go up after an extension.

I wouldn’t be surprised if the 500-mile Tesla Semi ends up costing $350,000 to $400,000.

If that’s the case, Tesla Semi is impressive, but it won’t be the revolutionary product that will change the trucking industry.

It will need to be closer to $250,000-$300,000 to have a significant impact, which is not impossible with higher-volume production but would be difficult.

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

Continue Reading

Environment

BP chair Helge Lund to step down after oil major pledges strategic reset

Published

on

By

BP chair Helge Lund to step down after oil major pledges strategic reset

British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024.

Nurphoto | Nurphoto | Getty Images

British oil major BP on Friday said its chair Helge Lund will soon step down, kickstarting a succession process shortly after the company launched a fundamental strategic reset.

“Having fundamentally reset our strategy, bp’s focus now is on delivering the strategy at pace, improving performance and growing shareholder value,” Lund said in a statement.

“Now is the right time to start the process to find my successor and enable an orderly and seamless handover,” he added.

Lund is expected to step down in 2026. BP said the succession process will be led by Amanda Blanc in her capacity as senior independent director.

Shares of BP traded 2.2% lower on Friday morning. The London-listed firm has lagged its industry rivals in recent years.

BP announced in February that it plans to ramp up annual oil and gas investment to $10 billion through 2027 and slash spending on renewables as part of its new strategic direction.

Analysts have broadly welcomed BP’s renewed focus on hydrocarbons, although the beleaguered energy giant remains under significant pressure from activist investors.

U.S. hedge fund Elliott Management has built a stake of around 5% to become one of BP’s largest shareholders, according to Reuters.

Activist investor Follow This, meanwhile, recently pushed for investors to vote against Lund’s reappointment as chair at BP’s April 17 shareholder meeting in protest over the firm’s recent strategy U-turn.

Lund had previously backed BP’s 2020 strategy, when Bernard Looney was CEO, to boost investment in renewables and cut production of oil and gas by 40% by 2030.

BP CEO Murray Auchincloss, who took the helm on a permanent basis in January last year, is under significant pressure to reassure investors that the company is on the right track to improve its financial performance.

‘A more clearly defined break’

“Elliott continues to press BP for a sharper, more clearly defined break with the strategy to pivot more quickly toward renewables, that was outlined by Bernard Looney when he was CEO,” Russ Mould, AJ Bell’s investment director, told CNBC via email on Friday.

“Mr Lund was chair then and so he is firmly associated with that plan, which current boss Murray Auchincloss is refining,” he added.

Mould said activist campaigns tend to have “fairly classic thrusts,” such as a change in management or governance, higher shareholder distributions, an overhaul of corporate structure and operational improvements.

“In BP’s case, we now have a shift in capital allocation and a change in management, so it will be interesting to see if this appeases Elliott, though it would be no surprise if it feels more can and should be done,” Mould said.

Continue Reading

Environment

Quick Charge | hydrogen hype falls flat amid very public failures

Published

on

By

Quick Charge | hydrogen hype falls flat amid very public failures

On today’s hyped up hydrogen episode of Quick Charge, we look at some of the fuel’s recent failures and billion dollar bungles as the fuel cell crowd continues to lose the credibility race against a rapidly evolving battery electric market.

We’re taking a look at some of the recent hydrogen failures of 2025 – including nine-figure product cancellations in the US and Korea, a series of simultaneous bus failures in Poland, and European executives, experts, and economists calling for EU governments to ditch hydrogen and focus on the deployment of a more widespread electric trucking infrastructure.

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.

Advertisement – scroll for more content

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.

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

Continue Reading

Trending