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Toyota shareholders are sending a clear message at the Japanese automaker’s annual meeting this year – it’s time to go electric. Several investors have mentioned they have voted or plan to vote to remove longtime leader Akio Toyoda from the board over the automaker’s EV stance.

Shareholders voice their opinion on Toyota’s EV stance

After Akio Toyoda, the 66-year-old grandson to the company’s founder, stepped down as CEO in January, many believed newly elected leader Koji Sato would bring the automaker into the modern era.

Toyoda has been one of the most vocal critics of going all in on EVs, insisting on sticking to a hybrid strategy despite the industry moving to an all-electric future.

Although Sato explained under his leadership the automaker would “accelerate BEV development with a new approach,” shareholders are still not thrilled with the progress.

In particular, they are pointing out Toyota’s EV stance on not setting a date to go all-electric. According to the Wall Street Journal:

Shareholders including the New York City comptrollers office, the California Public Employees’ Retirement System and several European asset managers said they have voted or plan to vote to oust several Toyota directors including Toyoda from their board seats at the meeting Wednesday.

They say their vote is a way of protesting against Toyoda’s policy of not setting a date to go all-electric like most automakers have.

Brad Lander, the NYC comptroller, explained his vote, saying, “Toyota is failing to lean, like its peers, into a timely transition to an electric fleet.” He continued to say:

We want to be persuaded that there is a transition under way and that they’ll take meaningful steps toward an all-EV commitment.

Under its newly elected leader, Toyota has made a series of announcements to help speed up the rollout. The Japanese automaker revealed it would develop a dedicated EV platform as well as introduce ten new EV models by 2026.

Toyota-EV-stance
Source: Toyota

One of the first will be a three-row SUV, its first US-assembled electric model set for production in 2025 at Toyota’s Georgetown, Kentucky facility.

Toyota has also teased several EV concepts, including an electric family SUV (bZ FlexSpace) and a sport crossover (bZ Sport Crossover).

Toyota-US-battery-lab
Source: Toyota

In addition to its first global EV, the bZ4X, Toyota released an electric sedan (bZ3) in China as it looks to keep pace in a rapidly changing market.

However, Sato has yet to set a date to go all-electric, and that’s what shareholders want to know now. When exactly will Toyota be an EV-only automaker?

Toyota-first-EV-US-made
Toyota bZ4X (Source: Toyota)

Electrek’s Take

Although the chances are slim that Toyota will be removed from the board, the votes are being used as a way of protesting to push for change within the company.

While most automakers are already achieving double-digit or 100% EV sales, Toyota continues to fall further behind the pack.

Investors are realizing that Toyota is missing out on profits in key regions like the US, Europe, and China, where EV sales are soaring. With the trend only expected to accelerate, shareholders are getting sick of waiting around while Toyota continues to delay an all-electric future.

The Japanese automaker is aiming for at least 1.5 million EV sales by 2026. For comparison, Tesla produced over 440,000 EVs in the first three months of 2023, delivering over 422,000.

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Tesla launches new Model Y in North America and Europe

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Tesla launches new Model Y in North America and Europe

Tesla has officially launched the new Model Y in North America and Europe after launching it in China earlier this month.

The difference is that Tesla is now taking orders for both the older and newer versions of its best-selling electric SUV.

That’s a unique launch for Tesla. I don’t remember the automaker doing that before.

After launching the new Model Y design refresh in China two weeks ago, Tesla is now starting to take orders for the refresh in North America and Europe.

But it looks like the design refresh is still a transitional in Tesla’s production as the automaker is still taking orders for the previous version:

For the launch in North America and Europe, Tesla has only added a new “trim” on the Model Y online configurator for a ‘Launch Series New Model Y’, which is the version unveiled in China earlier this month.

But in China, only this new version has been available for sale since the last two weeks.

Tesla estimates that the new version will have 320 miles of EPA range. Compared to 311 miles for the previous Model Y Long Range AWD, the only version of the new Model Y Launch Series available.

Here are all the other changes with the new Model Y compared to the previous version:

Feature Model Y New Model Y
Starting Price After Est. Savings $31,490 Available Now $46,490 Available Starting March
Trims Long Range RWD Long Range AWD Performance AWD Launch Series Long Range AWD
Range 277-337 miles (EPA est.) 303-320 miles (est.)
Seating First row: power recline and heated Second row: manual fold and heated First row: power recline, heated and ventilated Second row: power two-way folding and heated
Displays 15.4″ front-row touchscreen 15.4″ front-row touchscreen 8″ second-row touchscreen
Ride Comfort First-generation suspension First-generation noise reduction hardware Second-generation suspension Second-generation noise reduction hardware
Cameras 7 exterior cameras 8 exterior cameras (includes a new front-facing camera)
Audio Long Range RWD: 7 speakers Long Range AWD: 13 speakers, 1 subwoofer Performance AWD: 13 speakers, 1 subwoofer Launch Series Long Range AWD: 15 speakers, 1 subwoofer
Connectivity First-generation hardware Second-generation hardware
Trunk Power open Hands-free power open on approach
Interior Footwell and door pocket ambient lighting Wooden detailing with black interior Footwell and door pocket ambient lighting Wrap-around ambient lighting Aluminum detailing and premium textiles
Climate Tinted and laminated safety glass Power-actuated first-row air vents Manual second-row air vents Tinted and laminated safety glass with metallic infrared reflective coating Power-actuated first- and second-row air vents

For the Launch Series, Tesla is pricing the new Model Y Long Range AWD at $59,999 USD. That’s $12,000 more than the previous Model Y Long Range AWD, which is still available to order.

Specifically for the Launch Series, buyers get a bunch of special badging around the car:

But they also get things called “Premium Textil Trim” and “Vegan Suede for Black Interior”:

Currently, Tesla is only offering the new Model Y in Stealth Grey, Pearl White Multi-Coat, Ultra Red, and Quicksilver, but they are all included in the Launch Series price.

The Glacier Blue that is offered in China is currently not offered in North America or Europe.

Tesla is talking about the first deliveries of this new version of the Model Y coming in March in North America.

Electrek’s Take

This came sooner than expected, as most expected the launch to be closer to March based on how Tesla launched the Model 3 refresh last year.

But this is also different since Tesla continues to take orders for the previous version.

Tesla was likely worried about the Osborne effect and this strategy of starting with this more expensive version of the Model Y, the Launch Series, is going to help sales of the much cheaper previous version.

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Rivian (RIVN) plans to roll out hands-free driving this year, eyes-free system in 2026

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Rivian (RIVN) plans to roll out hands-free driving this year, eyes-free system in 2026

Rivian (RIVN) plans to launch a new Advanced Driver Assistance System (ADAS) this year to enable hands-free driving. The new feature is expected to be similar to Tesla’s Full-Self Driving (FSD). In 2026, Rivian will up the ante with an “eyes-free” system.

Rivian plans hands-free driving in 2025, eyes-free in 2026

At the new Rivian Space opening in San Francisco on Thursday, CEO RJ Scaringe revealed a few exciting developments to look forward to.

According to the folks at RivianForums, Scaringe said during the event that the company plans to launch a hands-free ADAS feature in 2025. Next year, Rivian will follow it up with an “eyes-free” system.

The big question is, will current Rivian R1S and R1T owners gain access? It could depend on whether you drive a Gen 1 or Gen 2 model. All Rivian models built through 2024 are considered Gen 1, while models 2025 and newer are Gen 2.

Rivian introduced the second-generation R1S and R1T last summer. They were “completely reengineered” with hundreds of hardware improvements, fully redesigned software, and more.

The upgrades include its new in-house autonomy system, Rivian Autonomy Platform. It’s powered by 11 cameras, five radars, and predictive AI.

Rivian-hands-free-driving
Rivian R1T (left) and R1S (right) electric vehicles (Source: Rivian)

Rivian said the new platform is “10 times more powerful” than the old system. It also features 360-degree visibility with 8X the number of camera pixels than the previous models. Gen 2 models already include features like Blind Spot Monitoring and Highway Assist.

With the premium version, drivers gain access to Lane Change, while Rivian said Enhanced Highway Assist and other features were coming soon.

Rivian-hands-free-driving
Rivian R2 electric SUV (Source: Rivian)

Although all Rivian R1S and R1T EVs include OTA updates, some features may require additional hardware or software not included on Gen 1 models.

Rivian hands-free and attention-free autonomous highway driving will be available on the upcoming R2 model. The smaller electric SUV is due out in the first half of 2026, starting at around $45,000.

Electrek’s Take

As a Tesla Model 3 driver, I can tell you that Full-Self Driving (FSD) is fun and can be helpful at times. I’ve used it on longer trips, like through the Blue Ridge Mountains, and it makes driving or sitting in the car a little more enjoyable.

Although the system still requires you to pay attention, it enables the vehicle to drive itself almost anywhere with “minimal driver intervention.”

The new Actually Smart Summon feature is one of my favorites. Through the Tesla app, you can summon your vehicle to come to you in a parking lot. The vehicle will then move around other cars, people, and objects to find you.

Other functions, like Navigate on Autopilot, will take over while the vehicle is on the highway, changing lanes (with turn signals) and braking or accelerating as needed.

For Rivian owners, it would be like an upgraded system from Highway and Lane Change Assist. The “eyes-free” system coming next year will likely have a few regulatory hurdles to pass before it rolls out, so it should be interesting to see what that will consist of. Check back for more info soon. We’ll keep you updated with the latest.

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The world’s largest solar + storage project will deliver power 24/7

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The world's largest solar + storage project will deliver power 24/7

The United Arab Emirates is building the world’s largest solar and battery storage project that will dispatch clean energy 24/7.

Emirati Renewable energy company Masdar (Abu Dhabi Future Energy Company) and Emirates Water and Electricity Company (EWEC) are developing the trailblazing solar and battery storage project. Once it’s online, will become the largest combined solar and battery energy storage system (BESS) in the world.

Located in Abu Dhabi, the project will feature a 5.2 GW solar PV plant coupled with a 19 gigawatt-hour (GWh) BESS.

His Excellency Dr. Sultan Al Jaber, minister of industry and advanced technology and chairman of Masdar, said:

For decades, the biggest barrier facing renewable energy has been intermittency – to be able to source uninterrupted clean power day and night.

In collaboration with EWEC and our partners, we will develop a renewable energy facility capable of providing clean energy round the clock.

For the first time ever, this will transform renewable energy into a world-leading 1 GW of reliable baseload energy every day on an unprecedented scale – a first step that could become a giant leap for the world.

Masdar announced China’s JA Solar and Jinko Solar, two of the world’s largest solar panel suppliers, and Chinese battery and BESS giant CATL as preferred suppliers. JA Solar and Jinko Solar will supply 2.6 GW of solar panels each. India’s Larsen & Toubro and POWERCHINA have been selected as preferred engineering, procurement, and construction contractors.

Masdar says the project will create 10,000 jobs and doesn’t yet indicate a projected completion date.

Read more: China installed a record capacity of solar and wind in 2024 – in numbers


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