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One of the first questions Tamara Lundgren often heard when she introduced herself as the CEO of Schnitzer Steel is, “What kind of steel do you make?'”

Founded in 1906 by Russian immigrant Sam Schnitzer, the company started as a one-person scrap metal recycler. Over 117 years later, a series of acquisitions and organic growth has made it one of the largest manufacturers and exporters of recycled metal products in North America, and a global leader in the collection, processing and sale of steel.

And while yes, Lundgren told CNBC, the company does make steel – some of the lowest-carbon emissions steel made in the world, she noted – it’s now the smallest part of its business.

“The name Schnitzer Steel just no longer really reflects our work,” said Lundgren, who joined the company in 2005 and was elevated to CEO in 2008. “We finally got to the point where if you’re introducing yourself by explaining what you do a little bit of, but not the most, it’s probably time to rebrand.”

Under Lundgren’s leadership, the company is now right in the middle of the growing circular economy, operating metals recycling facilities, auto dismantling and retail stores that sell used auto parts, and a third-party recycling service for manufacturers, industrials and retailers.

“In today’s environment, the importance of recycling and the importance of recycling metals has reached a level that didn’t exist 10 years ago,” Lundgren said. “With the transition to low-carbon technologies like electric vehicles, solar, wind, and the like, all of those technologies require more metal than the technologies that they’re replacing.”

An example of the recycling challenges in the climate transition is the wind turbine, which is recyclable, from the steel tower to the composite blades, typically 170 feet long, but most ends up being thrown away, a waste total that will reach a cumulative mass of 2.2 million metric tons by 2050, according to a 2021 study.

As this energy shift was happening in the broader economy, so too were conversations within the company and at the board level about a potential rebrand, Lundgren said.

That came to a head in January, while Lundgren was at Davos. Schnitzer Steel was named the “Most sustainable company in the world” by the sustainable economy magazine Corporate Knights, but Lundgren said most of the headlines she saw were focused on it being a steel company.

“I’m glad we were getting that attention, but fundamentally what drove it was all of our recycling activity,” Lundgren said. That quickly sparked a call to her communications team to bounce the idea of exploring a rebrand, which then led to larger discussions with experts to brainstorm and then formal discussions with the board and an internal team for feedback.

A few ideas were kicked around, including some bespoke names. But Lundgren said the name Radius Recycling resonated with everyone they mentioned it to, which called back to what kicked off the whole process. “The catalyst was having a name where people understood what you did from the name,” she said.

The process was closely guarded due to being a public company, so Lundgren said that there were employees and stakeholders who would only learn of the name change when it was publicly announced on July 26. But she was confident that it would resonate across the board.

In fact, she said she expected it to particularly resonate among the ESG investor community. While the company has backing from that sector of investors already, Lundgren said the new name will “open up doors more easily to people who might otherwise put us in a category that wasn’t in their scope of interest.”

Could it also bring negative feedback due to those ESG ties? Lundgren said she doesn’t believe it will, as the company has been “about sustainability before sustainability was a word. We are about recycling, and there’s no fluff there.”

The rollout of the change to Radius Recycling will take some time, Lundgren noted. While the company doesn’t necessarily have a product on a shelf or packaging it needs to redesign, it does have plenty of heavy machinery that will be repainted or rebranded when that equipment rolls over, she said. Most of the effort will come on the digital side of things, so that will not require the company to accelerate any capital spend towards it. Its Nasdaq ticker symbol will switch in September.

Reflecting on the process, Lundgren said that one thing she would highlight for other companies in the middle of a massive economic and market transition is just how much of it focused on listening: listening to what people’s first reactions to the company were, what questions they asked, and where stakeholders felt the company’s future was headed.

“It was connecting all of those dots and communicating,” she said. “And to make this successful, that communication has to continue.”

Some of that communication will be speaking to fellow CEOs about the services the company can offer in helping to lower carbon footprints and environmental impact, which Lundgren hopes becomes easier by just hearing the name of the company she leads.

“I think it’s great to be able to take an old economy company and an old economy industry and really position it to the point where we are an essential business and we are critical to the success of the circular economy and we are critical to this transition to a low-carbon world,” she said.

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Durham finally gets its first downtown DC fast charger

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Durham finally gets its first downtown DC fast charger

Kempower just cut the ribbon on downtown Durham, North Carolina’s first public DC fast-charging station. The new charger is operated in partnership with National Car Charging.

The new station at 111 W. Chapel Hill Street has two plugs (CCS1 and CHAdeMO) and is near restaurants and shops. The Durham area has plenty of Level 2 chargers, but this is its first DC fast charger downtown. Until now, the closest fast charger was three miles away from downtown.

Kempower, a Finnish company with its US office and factory in Durham, doesn’t mention the number of kilowatts its DC fast charger can deliver. However, PlugShare reports that a Ford F-150 Lightning managed 171 kW yesterday.

I asked the City of Durham’s spokesperson why it’s taken this long to install a DC fast charger downtown, and they replied that the “downtown core in Durham is densely developed and there are not many locations for chargers that have the right conditions and available power infrastructure for commercially viable fast chargers.”

Durham Mayor Leonardo Williams said the charger represents another step forward for the city’s clean energy goals: “With this locally built EV fast charger in the heart of downtown, we’re not only reducing our community’s carbon footprint – we’re supporting local jobs, clean energy, and a more connected future for everyone who calls Durham home.”

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As of 2025, North Carolina had more than 306 DC fast-charging stations and 1,385 ports.

Electrek’s Take

The City of Durham’s explanation of why it’s taken this long to get a fast charger downtown is a bit of a head-scratcher for me. It must be more of an infrastructure issue, or perhaps a matter of politics or funding, because density hasn’t stopped other cities from installing fast chargers in urban areas. Kempower provided 10 fast chargers at Pier 36 in Lower Manhattan, in collaboration with Revel, in September 2024. At any rate, it’s progress for Durham worth celebrating.

Read more: PowerUp America is adding 100 new fast chargers in the Southeast


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Porsche’s new electric Cayenne can charge without plugging in

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Porsche's new electric Cayenne can charge without plugging in

Porsche unveiled its new Cayenne EV today, and it comes with an option for something we haven’t seen out of a factory-equipped car before: inductive charging.

Over the years, we’ve heard plenty of attempts by companies to trick consumers into thinking that it’s possible to make an electric car that doesn’t need to charge.

From Toyota’s dumb “self-charging hybrid” claim, to the new fad of “range extenders”/EREVs (aka plug-in hybrids with a bigger battery), to all manner of solar vehicles, people seem to think that convincing customers that they don’t need to plug in will get them to buy an EV (or, will help them greenwash their gas-guzzling hybrids).

And now the next entry into that group has arrived: the Porsche Cayenne electric, which can indeed be driven without ever plugging in, or gassing up, or even parking in the sun.

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It does have to be parked somewhere specific though: over a pad in your garage. Because this car can be equipped to use inductive charging, right out of the factory.

Inductive charging uses magnetic fields to transfer electrical power, as opposed to conductive charging, which uses a plug. Inductive charging is how phone charging mats work, but in this case, it’s scaled up significantly in size and power.

We’ve seen a few inductive charging projects before, but they’ve always been aftermarket or experimental so far. Or, they’ve been targeted more at commercial or fleet buyers (buses, for example).

There is one mass-produced EV which is rumored to have inductive charging capability, the Tesla Cybertruck, and we know that Tesla is working on a charging pad, which will be helpful if autonomous vehicles ever roll out properly. But nothing has been announced as available yet.

Porsche, however, is ready to announce that the capability is coming to its upcoming Cayenne EV. Porsche has shown off its inductive tech before, but now we got to see it ourselves when we checked out the Cayenne in a studio preview.

Porsche says that its inductive charging system can push 11kW of power, which is plenty for overnight home charging (on the car’s 113kWh battery). It does this at 90% efficiency – not as much as the ~95% of conductive charging, but still quite good. It also requires an extra ~33lbs of coils and wiring onboard the car, which is a significant if not massive weight gain.

To activate the system, the charging pad makes contact with the car via wide-band wireless communication to determine location, then activates when you park in just the perfect spot. The car’s screen shows guide lines to help you find the way to where you need to be – or there’s always the tennis-ball-on-a-string trick if you want to go low tech.

When we tried it out in LA, once we got the system up and running (hot tip: don’t daisy chain two extension cords if you want your inductive charging pad to work), it quickly charged at 11kW, at least according to the in-car system.

The inductive charger includes a lot of safety features to ensure nothing weird happens. Even though it only uses magnetic fields, the mat includes sensors to detect any living or metal objects nearby, it will stop (yes, this includes your cat that likes to sleep under the car, and yes, Porsche gets asked this question often). We saw this happen once in the studio demo, but it quickly turned back on after deciding everything was okay.

The Cayenne will still have its regular conductive charging ports, capable of 11kW AC or 400kW DC charge. But for those who want to forgo the plug, at least at home, the mat is an available option.

That said – pricing and availability are still TBD. The system costs €7k in Europe, plus an electrician, but we don’t know what it will cost in the US yet.

So, there’s still a chance that someone else beats Porsche to the “first” moniker – possibly Tesla, given that it seems to be close to offering an inductive charging system. But there are a lot of hurdles to ensure that the system is reliable in every type of weather and real world situation, and lots of electrical codes to follow. So, it looks like the race is on.

Electrek’s Take

I was quite interested in talking to the engineers about this system, because I hadn’t actually experienced inductive charging in an EV before.

People have been talking about this for a long time, and I used to be excited about the concept of electrified roads where cars could just drive on them and get a charge and never have to plug in.

However, after conversations over the years and experience with how easy driving and charging an EV is, I came to think that inductive charging is mostly a gimmick, and that we will likely rely on conductive charging in the long term (and especially that in-highway charging is a boondoggle that’s never going to be a good option, especially when catenary/pantograph systems exist).

That said, there are still niches and benefits to be had. In a potential fully autonomous future, we’ll need to figure out autonomous charging, and inductive charging could be a good answer for that.

In addition, some drivers do have difficulty with cables. While the NACS cable is much easier to handle than the old CCS cable, an older driver or one with mobility issues might have a hard time plugging in a car. Inductive charging could be good for them.

Or, heck, maybe someone is just lazy. Or doesn’t like cords. And doesn’t mind spending money for these marginal improvements. We can imagine there are Porsche buyers who could fit that description.

I still think the take rate will be relatively low, but it will be interesting to see real world tests of this, how buyers get along with it, and what sort of problems they manage to solve. As much as I’m a skeptic of inductive charging’s usefulness and acknowledger of its limitations, it’s nice to see new things get tried sometimes.

What do you think about Porsche’s inductive charging system? Would you prefer it to conductive charging? How much would you pay to add this option to your EV? Let us know in the comments.


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Hyundai now has Germany’s best-selling EV under €25,000

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Hyundai now has Germany's best-selling EV under €25,000

The Inster, Hyundai’s most affordable EV, is Germany’s best-selling small electric car and top overall vehicle priced under €25,000.

The Hyundai Inster is Germany’s best-selling small EV

After launching the Inster in Europe in late 2024, Hyundai’s smallest and most affordable EV quickly became one of the most popular electric cars in the region.

According to JATO Dynamics, the Hyundai Inster was the 19th most popular EV across Europe in June, outselling the Dacia Spring, Hyundai Kona, and Toyota bZ4X.

In Germany, the heart of Europe, Hyundai’s most affordable EV is making an even bigger impression. Since this summer, the Hyundai Inster is Germany’s best-selling small EV so far in 2025 and just won the Golden Steering Wheel award for best car under €25,000 ($28,900) by AUTO BILD & BILD am SONNTAG.

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Hyundai said the recognition is proof that its vehicles are resonating with buyers across Europe. The Korean automaker will continue expanding its EV lineup, from the small Inster to the three-row IONIQ 9.

Hyundai-Germany's-best-selling-EV
Hyundai Inster EV (Source: Hyundai)

The award comes after the Inster was crowned the 2025 World Electric Vehicle at the World Car Awards ceremony in the spring, held during the New York International Auto Show.

Hyundai’s electric city car starts at just €25,000 ($28,900) in Germany. Despite its small size, the Inster delivers up to 370 km (230 miles) WLTP driving range, fast charging (10% to 80%) in 30 minutes, and a surprisingly spacious and feature-rich interior.

The Inster features dual 10.3″ driver display and infotainment screens with wireless Android Auto and Apple CarPlay as part of Hyundai’s digital cockpit.

By 2027, Hyundai plans to electrify all vehicles sold in Europe. The Inster and IONIQ 9 are now rolling out across the region, and Hyundai plans to build momentum with new EVs, including the IONIQ 3, which will go into production in Hungary in the first half of 2026.

Hyundai-Germany's-best-selling-EV
The Hyundai Inster EV (Source: Hyundai)

In South Korea, Hyundai’s home market, the Inster is sold as the Casper Electric. The compact EV is sold in Japan, Europe, the Middle East, and parts of Asia.

Although those in the US won’t get to see the Inster or IONIQ 3, Hyundai still has one of the most affordable EVs you can get your hands on. With leases starting at just $189 per month, the Hyundai IONIQ 5 is still America’s best deal for an electric vehicle.

Interested in a test drive? We can help you get started. You can use our link to find available Hyundai IONIQ 5 models near you.

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