The field of swappable batteries for electric motorbikes is booming, and Honda is trying to play catch up with its own design. The Honda Mobile Power Pack e: (MPPe:) is headed to Indonesia as the company makes a play for greater international market share.
The Honda MPPe: is a Gogoro-style swappable motorbike battery that even comes with its own Gogoro-style battery cabinet known as the Honda Power Pack Exchanger e: (HPPEe:).
Honda has been dragging its feet on electric vehicles for years, not just in cars but also in its motorcycle division.
The swappable battery system developed by Honda has been around for several years but hasn’t gotten much use outside of a few local Japanese trials until recently. After developing a swappable battery consortium along with Yamaha, Suzuki and Kawasaki, it appears Honda is attempting to position its own battery as a competing standard.
We’ve seen the company attempt to push that battery into Europe in the Honda EM1 electric scooter, and now Honda is setting its sights on Indonesia.
Indonesia has a large population numbering 275 million, with most Indonesian households using a motorbike to commute.
Electric vehicles are still a tiny percentage of that market, but more options are helping Indonesians boost those EV numbers. Now Honda wants to get some skin in that game as it brings its EM1 electric motorbike to Indonesia.
Honda appears to be offering its EM1 for sale in Indonesia either with or without the batteries, presumably meaning that the sans battery package would rely on battery swapping subscriptions.
Without a battery, the EM1 is priced at around US $2,600, while the package with batteries included is price at closer to US $2,930.
Honda’s battery swapping cabinets appear to work similarly to Gogoro’s, except that they don’t automatically recognize the user and scooter simply by reading information stored in the batteries. Instead, users will need to swipe a membership card in order to activate the station and swap batteries.
Electrek’s Take
It’s great to see Honda finally taking electric motorbikes more seriously, though I’m not sure how many “standards” for swappable batteries are necessary.
I get that entrusting a single company with managing and profiting from a battery standard has its downsides, but so does having 10 different types of swappable batteries out there. Honda is obviously in its very early stages, and seems to just be copying Gogoro by entering each country that Gogoro establishes itself in. If Gogoro is coming up on half a billion battery swaps under its belt with nearly half a million battery swaps per day, then it seems like they’ve pretty much got this figured out while other companies are still testing the waters.
A number of companies even build their scooters to fit Gogoro’s batteries (including Yamaha, one of the companies that joined Honda’s battery consortium), so it feels like the industry is already starting to choose a winner here.
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An Exxon Mobil gas station in Lorton, Virginia, US, on Monday, Oct. 27, 2025.
Luke Johnson | Bloomberg | Getty Images
Exxon Mobil on Friday reported third quarter earnings that fell year over year, as oil prices tumbled due in large part to OPEC+ increasing production.
Exxon’s net income fell 12% to $7.55 billion, or $1.76 per share, compared to $8.6 billion, or $1.92 per share, in the year ago period. Excluding one-time items, the oil major posted earnings per share of $1.88.
U.S. crude oil prices have fallen about 16% this year as OPEC+ is increasing production and President Donald Trump’s tariffs have the market worried about an economic slowdown.
Exxon shares were down more than 1% in premarket trading.
Here is what Exxon reported for the third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: $1.88 adjusted.
Revenue: $85.3 billion, vs. $87.7 billion expected
CEO Darren Woods said Exxon posted its highest earnings per share compared to similar quarters when oil prices were falling. Profits also took a hit due to bottom-of-cycle margins in its chemicals business.
However, production in Exxon’s lucrative offshore assets in the South American nation of Guyana hit a quarterly record of more than 700,000 barrels per day. Its assets in the Permian Basin also set a production record of nearly 1.7 million bpd.
Overall, Exxon produced 4.77 million bpd in the quarter.
Exxon’s production business recorded earnings of $5.68 billion, while its refining business posted a profit of $1.8 billion. Its chemicals product business saw earnings of $515 million.
The oil major’s capital expenditures stand at about $21 billion so far this year. It expects spending in 2025 to come in slightly below the lower end of its guidance range of $27 billion to $29 billion.
Exxon gave back $9.4 billion to shareholders in the quarter and raised its fourth-quarter dividend to $1.03 per share.
Signage outside the Chevron Corp. headquarters in Houston, Texas, US, on Wednesday, Oct. 8, 2025.
Mark Felix | Bloomberg | Getty Images
Chevron on Friday reported third-quarter financial results that beat Wall Street estimates, as the company achieved record production due in part to its acquisition of Hess Corporation.
The oil major’s net income declined 21% to $3.54 billion, or $1.82 per share, compared with $4.49 billion, or $2.48 per share, in the same period last year. Its earnings decreased year over year due to falling oil prices and a $235 million loss on transaction costs associated with the Hess acquisition.
Excluding costs associated with Hess and foreign currency impacts, Chevron earned $1.85 per share, beating Wall Street estimates of $1.71 per share.
Here is what Chevron reported for the third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: $1.85 adjusted vs. $1.71 expected
Revenue: $49.73 billion vs. $49.01 billion expected
U.S. crude oil prices have fallen about 16% this year as OPEC+ increases production and President Donald Trump’s tariffs have the market worried about an economic slowdown.
Even with lower prices, Chevron pumped a record 4.1 million barrels per day, a 21% increase compared with the same period last year. Higher production came from the Hess acquisition, the Permian Basin, the Gulf of Mexico and Kazakhstan, according to the company.
Chevron’s U.S. production business posted a profit of $1.28 billion, down 34% compared with $1.95 billion in the third quarter of 2024. It pumped 2 million barrels per day, up 27% from 1.6 million bpd in year-ago period.
International production recorded earnings of $2 billion, down 24% compared with $2.64 billion in the same quarter last year. Production increased 16% to 2 million bpd compared with 1.76 million bpd in the year-ago period.
Profits increased more than 300% to $638 million in Chevron’s downstream U.S. refining business, compared with $146 million in the third quarter of 2024. International refining posted earnings of $499 million, up 11% from $449 million in the year-ago period. Refining profits increased year over year due to higher margins on product sales.
Capital expenditures increased 7% to $4.4 billion over the year-ago quarter due to spending on legacy Hess assets. Chevron’s adjusted free cash flow increased about 50% to $7 billion over the year-ago period.
California’s ambitious statewide electric bicycle incentive program is officially dead – and it didn’t even get a funeral. After years of buildup, delays, and surging public interest, the California Air Resources Board (CARB) has quietly ended the program, rolling the remaining $17 million of the original $30 million budget into its “Clean Cars 4 All” initiative without even making an official announcement.
The California E-Bike Incentive Project was originally hailed as a groundbreaking effort to make electric bikes affordable for low-income residents. Vouchers – not rebates – were designed to let buyers walk into a participating shop and ride out without covering the full price upfront. Base vouchers were worth $1,000, with up to $2,500 available for those purchasing cargo or adaptive e-bikes in priority communities. It was a model that other states were watching closely.
But from the outset, the program was plagued by setbacks. Years of delays meant the first vouchers weren’t distributed until late 2024, and even then, only after a chaotic launch that saw the website crash under the weight of tens of thousands of applicants vying for just 1,500 vouchers. A second launch attempt in April 2025 failed completely, locking out eligible users. While a final distribution round in May went more smoothly, an estimated 90% of eligible applicants were turned away due to limited supply.
To make matters worse, the program’s administrator, Pedal Ahead, came under fire for questionable practices in San Diego, further undermining confidence.
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Now, with no formal announcement or update on the program’s official website, CARB has quietly absorbed the funds into its Clean Cars 4 All program.
Electrek’s Take
This is an enormous letdown.
The California E-Bike Incentive Project had the potential to reshape car-heavy communities by giving low-income Californians access to clean, affordable micromobility. Instead, it was starved by mismanagement and then cannibalized to prop up car-centric policy.
It’s not that electric cars don’t deserve support, but this move reflects a broader failure of imagination. If we want a future with fewer cars, not just cleaner ones, then we need to start funding real alternatives. This was a huge missed opportunity to invest in a more livable California.