Swedish manufacturing giant Volvo Group continues building sales momentum in the electric era. Volvo Group delivered a record number of electric trucks, buses, construction equipment, and marine and industrial engines in Q2.
Volvo Groups electric sales grow in Q2 2023
The Volvo Group consists of Volvo, Renault Trucks, Mack Trucks, Nova Bus, Volvo Penta, and others in financial services, energy, defense, and more.
Since launching its first all-electric truck in 2018, the FL Electric, Volvo Group has continued driving the industry towards a sustainable future.
Volvo followed it up by introducing the more powerful Class 8 VNR electric model in the US and Canada in 2021, featuring a larger battery pack for added range. After adding three huge 44-ton electric trucks this past year, Volvo set an industry standard with the most extensive offering of heavy-duty EV trucks.
The manufacturing giant has continued to expand its portfolio of EV offerings over the years to include electric trucks, buses, contruction equipment, marine and industrial engines.
After scoring its largest order for electric trucks in May, Volvo Group had a record sales quarter in Q2 regarding electric equipment.
Volvo’s electric truck lineup (Source: Volvo Trucks)
Volvo Group achieves record electric sales in Q2
Volvo Group’s CEO, Martin Lundstedt, explained the company achieved its “strongest quarterly earnings ever” in Q2. Commenting on the success, Lundstedt said:
We continue to push innovation and investments tostay in the forefront of the transformation. The importance of performing today to be able to transform for tomorrow will be decisive for the years to come.
A big part of the success is the company’s growing electric offerings. In the second quarter, Volvo delivered 759 electric trucks. These include 337 Volvos, 417 Renaults, and five Mack electric trucks.
Amazon Volvo FH Electric (Source: Volvo Trucks)
Volvo’s total electric heavy-duty market share increased to over 50% in Europe compared to 36.9% last year. Despite the growth, new orders fell from a peak of 1,170 in the fourth quarter to 677 in Q2. Overall electric order intake rose to 1,703.
(Source: Volvo Group)
Beyond trucks, Volvo delivered 131 fully electric buses, up 236% YOY. Electric bus orders also grew in Q2 to 317, up 306% from last year.
Volvo Penta, the company’s marine and industrial power solutions supplier saw electric engines deliveries expand 933% in Q2 to 31 while nine new orders were placed during the quarter.
Meanwhile, Volvo’s electric construction equipment orders rose 49% in the first half of the year to 464.
Lundstedt says having stable earnings is key for the transformation to a more sustainable transportation and infrastructure system. He says Volvo Group continues investing in the future, “shaping the world we want to live in.”
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Ford is testing a new electrified Mustang that may not be as electric as it seems. The next-gen Mustang is apparently already in development. Here’s what we know about it so far.
Is Ford launching an electrified Mustang Hybrid?
After postponing around $12 billion in planned spending on electric vehicles in 2023, Ford’s CEO Jim Farley said the company would lean more into hybrids.
Farley told investors and analysts on the company’s Q3 2023 earnings call that he’s “so thankful we have kept our foot on the gas to freshen our ICE and HEV products as we enter a changing market.”
Ford’s CFO, John Lawler, reaffirmed the company’s plans later that year, saying the company would use hybrids as a bridge to fully electric vehicles.
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“With EV adoption slower, hybrids are going to be a bigger part,” Lawler said, adding that Ford “became a little bit complacent” on hybrid tech. Last year, Ford said it would introduce a hybrid version for every gas-powered vehicle in its lineup by 2030.
2025 Ford Mustang Mach-E (Source: Ford)
Ford is apparently making good on its promise with a new Mustang hybrid in development. According to a new report from Ford Authority, the Mustang hybrid, internally code-named S650E, is in development, and prototypes are already being tested.
The report claims the new Mustang has entered the Technology Prove-Out stage, suggesting it will be electrified to some degree.
Ford Mustang Mach-E Rally (Source: Ford)
Whether it will be a traditional hybrid or a plug-in hybrid vehicle (PHEV) remains unclear. Although the company has yet to confirm it, Farley said that a “partially electrified Mustang coupe” was a strong possibility, and Ford’s Performance unit is already testing hybrid powertrains.
Electrek’s Take
Will the new Mustang hybrid sit alongside the Mach-E in Ford’s lineup? Ford’s electric crossover SUV remains one of the top-selling EVs in the US, so it’s unlikely to go anywhere, but it is due for a refresh with so many new rivals entering the market.
Through August, Ford sold 34,319 Mustang Mach-Es (+6.7% YOY) in the US. The gas-powered Mustang continues to fall out of favor, with 31,015 units sold in the first eight months of 2025, 8.3% fewer than during the same period in 2024.
With Hyundai, Stellantis, Honda, and several other global OEMs planning to launch new hybrid models in the US, the Ford Mustang hybrid doesn’t come as a total surprise. We will still have to wait for the official word from Ford, but a new electrified Stang seems more than likely.
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Transocean Barents, an oil platform passes through Canakkale Strait as vessel traffic suspended in both directions in Canakkale, Turkiye on November 12, 2024.
Enishan Keskin | Anadolu | Getty Images
Shares of Transocean plunged Thursday after the offshore driller announced the sale of a large number of shares at a discount.
Transocean is planning to sell 125 million shares at a price of $3.05, significantly lower than Wednesday’s close of $3.64. It is offering 25 million shares more than it originally planned.
The Swiss company’s stock was last down 14.8% premarket. The offering is expected to close on Friday.
Transocean expects to book about $381 million from the sale. It will use the proceeds to pay off debt.
(Correction: Updates with correct share offering price.)
New York City’s new 15 mph speed limit for electric bikes is officially set to take effect next month, in what city officials claim is a move to improve street safety. But not everyone is convinced the crackdown is targeting the real threat on the roads.
The new limit, approved earlier this year, applies to e-bikes, mopeds, and other micromobility vehicles operating in city bike lanes. Riders caught exceeding 15 mph could face warnings or citations, though the exact enforcement strategy remains murky. The NYPD says it will focus on “education first,” but given the city’s track record, that could just be the calm before the ticket storm.
The rule comes amid growing concerns from some residents and officials about rising speeds among e-bike riders, especially delivery workers who often rely on throttle-equipped bikes to meet tight deadlines. But while the new speed cap is aimed at micromobility vehicles, there’s a noticeable omission: cars, trucks, and SUVs, which continue to be allowed to travel at 25 mph – and in practice, often much faster – even though they pose exponentially more risk to vulnerable road users and are responsible for orders of magnitude more deaths each year.
It’s a move that raises eyebrows and has resulted in thousands of publicly-submitted comments that the New York Department of Transportation has seemingly ignored.
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After all, the majority of traffic fatalities in New York City don’t involve e-bikes. They involve cars. And while some e-bike riders certainly ride irresponsibly, the blanket limit nearly cuts in half the more widely accepted e-bike speed limits used around the US, and doesn’t even apply to pedal bikes, which can easily exceed such speeds despite nearly identical average weights when factoring in the vehicle and rider. Not to mention, it ignores the critical role that e-bikes play in reducing traffic congestion and emissions, especially in the delivery and commuting sectors.
So while New York is slowing down its most efficient and sustainable form of urban transport, it’s letting the real heavyweights keep their speed. If the goal is safety, then it’s fair to ask: why aren’t cars being asked to go 15 mph too?
Because once again, it seems the rules are written for the powerful – not the vulnerable.
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