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Volvo Group just secured its largest order for electric trucks to date, a win for the company and the industry. The company signed a letter of intent to sell 1,000 electric trucks to Swiss sustainable building solutions leader Holcim.

Volvo Group seeing higher demand for electric

As the parent company encompassing Volvo, Renault Trucks, Mack Trucks, Nova Bus, and others, Volvo Group continues to prove itself as a clean energy leader.

Known for its history in innovation and design (including introducing the first three-point safety harness), Volvo Group is committed to a sustainable future. The company delivered its first electric truck, the FL Electric, in 2019 and has remained a pioneer ever since.

The company’s early efforts are already yielding results, with electric truck sales climbing 254% in the first three months of 2023.

Volvo Group delivered 683 electric trucks in total in the first quarter. Of them, 350 were Volvo brand, 331 were Renault, and two were Mack Trucks.

Electric truck order intake continues growing, steading with 1,197 in Q1, for a total of 5,360 over the past year. Volvo also delivered 202 pieces of electric construction equipment, 34 electric buses, and 20 electric engines in the quarter.

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Volvo FM electric (Source: Volvo Trucks)

Volvo lands its largest order for electric trucks to date

Volvo signed a letter of intent Monday to sell 1,000 electric trucks between now and 2030 to Holcim for its European operations.

The first 130 heavy electric Volvo FH and Volvo FM trucks will be delivered to France, Germany, Switzerland, and the UK by the end of the year and throughout 2024.

Volvo Group president and CEO says the agreement is an extension of a broader partnership between Holcim and the company, saying:

Long-term collaboration and a strong commitment to really make a difference are essential for making big CO2 reductions a reality. I’m very proud of the partnership we have developed with Holcim, and the results we are achieving together.

The new Volvo FH electric trucks using green electricity on an average route will save up to 50,000 tons of CO2 compared to the existing 1,000 diesel-powered truck fleet. The CO2 savings are based on Volvo Trucks Environmental Footprint Calculator comparing CO2 output over an annual mileage of 80,000 km (49,709 miles) for a 44-ton truck.

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Headquartered in Switzerland, Holcim focuses on decarbonizing buildings across their life cycle using less material, circular construction, and sustainable designs.

Volvo Trucks has begun scaling production across its network to meet the rising demand. The company aims for 50% fully electric truck sales by 2030 as it transitions toward 100% EV sales by 2040.

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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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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.


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