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Three major automakers have come forward and announced an equally-owned company focused on creating a single, cost-effective platform to connect EV drivers, automakers, and utility companies. BMW Group, Ford Motor Company, and American Honda Motor Company have partnered up to create ChargeScape, LLC – potentially unlocking new value as an EV owners in North America.

If you didn’t think the world’s largest automakers weren’t taking electrification seriously, this past summer offers plenty of evidence otherwise. While the overall market and EVs especially remains highly competitive, legacy automakers like BMW, Ford, and Honda have been collaborative in the best way.

First we saw a major domino effect in North America after Ford vowed to adapt Tesla’s NACS charging standard which was followed by GM, and pretty much everyone else thereafter. Then, in late July, seven of the world’s largest automakers including the likes of BMW and Honda announced an alliance to build a clean energy-powered fast charger network in North America consisting of over 30,000 new piles.

While many of these companies remain competitors, it has been refreshing to see them join forces to tackle certain hurdles currently facing EV adoption, such as lack of chargers and a universal standard. Another issue currently lurking ahead is the strength electrical grids in North America as EV adooption grows, in addition to a universal platform for utility companies and EVs to communicate with one another.

Today, Ford, BMW, and Honda have announced ChargeScape, which looks to tackle these exact issues for the benefit of all.

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BMW, Ford, and Honda look to decarbonize the grid

According to a press release from BMW Group today on behalf of its new partners in Ford and Honda, ChargeScape emerges as a new company that leverages all three companies’ industry experience with the goal of creating an Open Vehicle-Grid Integration Platform (OVGIP).

By creating a single, universal platform, ChargeScape looks to alleviate any need for individual automakers to interact separately with each electric utility. Instead, ChargeScape’s platform would give utility companies managing the grid in North America access a potentially universal pool of energy across EV batteries.

The newly formed company also says it will be able to gather a trove of energy use data from EVs tapped into the grid while charging, providing utilities with precious aggregated information that can be used to improve energy efficiencies and gain a more granular insight on peak demand windows.

Additionally, BMW, Ford, and Honda state that ChargeScape will give more power (literally and figuratively) to EV owners charging at home, including the potential to earn financial benefits by replenishing during off-peak hours. Better still, vehicle-to-grid (V2G) capabilities should eventually enable those EV owners to send the stored energy in their vehicles batteries directly back into the grid, curbing peak demands while potentially putting some money back into consumer pockets.

Add solar technology and home energy storage systems to the equation and the potential for an energy users giving back to their local grids is tremendous. ChargeScape looks to tap into that prospect. BMW North America’s vice president engineering, Thomas Ruemenapp, spoke:

Electric grid reliability and sustainability are the foundation for an EV powered future. ChargeScape aims to accelerate the expansion of smart charging and vehicle-to-everything solutions all over the country, while increasing customer benefits, supporting the stability of the grid and helping to maximize renewable energy usage. We’re proud to be a founding member of ChargeScape and are looking forward to the opportunities this collaboration will create.

The new business formed by Honda, Ford, and BMW has vowed to also help decarbonize the electrical grid in North America, prioritizing clean energy that comes from renewable sources such as wind and solar. By encouraging EV drivers who own homes to integrate renewables into their charging routines, ChargeScape looks to help lower carbon emissions for all while again, putting more power into the hands of consumers regarding how they obtain, use, and sell their energy. American Honda Motor Co. vice president of sustainability & business development, Jay Joseph also spoke:

As Honda seeks to achieve our global goal of carbon neutrality, we are counting on this platform to create new value for our customers by connecting EVs to electric utilities, strengthening grid resources and reducing CO2 emissions. With automakers accelerating toward the electrified future, we must find solutions like ChargeScape that enable all stakeholders to work together for the good of our customers, society and our industry by enabling greater use of renewable energy for and from mobility.
 

Lastly, ChargeScape looks to further collaborate in brining its OVGIP future to life. Ford, BMW, and Honda have offered an open invitation to all the other automakers to join the company to help expedite and unlock its full potential.

Electrek’s Take

This is the news I love to see and to share with all of you.

Here we have an American, German, and Japanese automaker each joining an equally-shared company to promote EV adoption in North America. Granted none of these three are truly direct competitors in most vehicle segments, but remain companies fighting for the wallets of North American consumers.

The idea of ChargeScape is a marvel to ponder and to me, represents a step toward a future in EVs I feel is inevitable. I foresee EV drivers who own homes adopting solar and wind, charging their vehicles using renewables and storing it in the cars and in their home power packs, then gaining access to V2G capabilities (pending lots of permitting, regulation, and legislation I’m sure), and becoming active participants in grid infrastructure rather than mere users.

Giving consumers to ability to sell their excess energy back during peak demands – especially if it comes 100% from renewables, is tremendous – and a universal platform from BMW, Ford, and Honda could truly help expedite that dream. I love the open invite to join too and hope more automakers take notice and offer to help. Looking at you Toyota. Haha, yeah right!

This feels like a win for everyone – except maybe utility companies who are going to lose their monopoly on energy sales, but I think they’ll still fare just fine. Power to the people, baby!

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Here’s what TSLA analysts are saying about Tesla’s big delivery miss

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Here's what TSLA analysts are saying about Tesla's big delivery miss

Most Wall Street analysts covering Tesla’s stock (TSLA) badly misread the automaker’s delivery volumes this quarter. Some of them have started releasing notes to clients following Tesla’s production and delivery results.

Here’s what they have to say:

According to Tesla-compiled analyst consensus, the automaker was expected to report “377,592 deliveries” in the first quarter.

Tesla confirmed yesterday that it delivered only 336,000 electric vehicles during the first three months of 2025.

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  • Cantor Fitzgerald was the first analyst firm to issue a note after the release. They reaffirmed their overweight rating with a $425 price target. As we previously reported, Cantor has some major conflicts of interest with Tesla and CEO Elon Musk.
  • Truist Securities maintained its hold rating on Tesla’s stock, but it greatly lowered its price target from $373 to $280 a share. They insist that while their earnings expectations have crashed because they overestimated deliveries, investors should focus on Tesla’s self-driving effort, which they see as “much more important for the long-term value of the stock.”
  • Goldman Sachs lowered its price target from $320 to $275 a share. The firm expected 375,000 deliveries from Tesla in Q1 and therefore had to adjust its earnings expectations with almost 40,000 fewer deliveries.
  • Wedbush‘s Dan Ives, one of Tesla’s biggest cheerleaders, called the delivery results “disastrous”, but he reiterated his $550 price target on Tesla’s stock.
  • UBS has reiterated its $225 price target which it had lowered last month after adjusting its delivery expectations in Q1 to 367,000 – one of the more accurate predictions on Wall Street.
  • CFRA‘s analyst Garrett Nelson reduced his price target from $385 to $360 a share.

Electrek’s Take

I find it funny that most of them are maintaining or barely changing their expectations after they were so wrong about Tesla in Q1.

If you were so wrong in Q1, you should expect to be incorrect also for the rest of the year, and readjust accordingly.

But Cantor is invested in Tesla, and the firm is owned by Elon’s friend, who happens to now be the secretary of commerce. Truist still believes Elon’s self-driving lies, Goldman Sachs overestimated Tesla’s deliveries by the equivalent of $2 billion in revenues, and Dan Ives is Dan Ives.

Covering Tesla over the last 15 years has confirmed to me that most Wall Street analysts have no idea what they are doing – or at least not when it comes to companies like Tesla.

Do you know any who have been consistently good lately? I’d love suggestions in the comment section below.

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Fintech stocks such as Affirm, PayPal plunge on concern Trump tariffs will hurt consumer spending

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Fintech stocks such as Affirm, PayPal plunge on concern Trump tariffs will hurt consumer spending

The global market rout on Thursday, sparked by President Donald Trump’s announcement of widespread tariffs, had an outsized effect on fintech companies and credit card issuers that are closely tied to consumer spending and credit.

Affirm, which offers buy now, pay later purchasing options, plunged 19%, while stock trading app Robinhood slid 10% and payments company PayPal fell 8%. American Express and Capital One each tumbled 10%, and Discover was down more than 8%.

President Trump on Wednesday laid out the U.S. “reciprocal tariff” rates that more than 180 countries and territories, including European Union members, will face under his sweeping new trade policy. Trump said his plan will set a 10% baseline tariff across the board, but that number is much higher for some countries.

The announcement sent stocks reeling, wiping out nearly $2 trillion in value from the S&P 500, and pushing the tech-heavy Nasdaq down 6%, its worst day since the start of the Covid-19 pandemic in 2020.

The sell-off was especially notable for companies most exposed to consumer spending and global supply chains, including payment providers and lenders. Fintech companies that rely on transaction volume or installment-based lending could see both revenue and credit performance deteriorate.

“When you go down the spectrum, that’s when you have more cyclical risk, more exposure to tariffs,” said Sanjay Sakhrani, an analyst at Keefe, Bruyette & Woods, citing PayPal and Affirm as businesses at risk. He said bigger companies in the space “are more defensive” and better positioned.

Visa, Mastercard and Fiserv held up better on Thursday.

Dan Dolev, an analyst at Mizuho, said bank processors such as Fiserv are less exposed to tariff volatility.

“It’s considered a safe haven,” he said.

Affirm executives have previously said rising prices might increase demand for their products. Chief Financial Officer Rob O’Hare said higher prices could push more consumers toward buy now, pay later services.

“If tariffs result in higher prices for consumers, we’re there to help,” O’Hare said at a Stocktwits fireside chat last month. Affirm CEO Max Levchin has offered similar comments.

However, James Friedman, an analyst at SIG, told CNBC that delinquencies become a concern. He compared Affirm to private-label store cards, and pointed to historical trends in credit performance during downturns, noting that “private label delinquency rates run roughly double” in a recession when compared to traditional credit cards.

“You have to look at who’s overexposed to discretionary,” he said.

Affirm did not provide a comment but pointed to recent remarks from its executives.

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Mazda’s $20,000 Chinese EV is about to launch overseas and a new SUV is up next

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Mazda's ,000 Chinese EV is about to launch overseas and a new SUV is up next

Wait, Mazda sells a real EV? It’s only in China for now, but that will change very soon. The first Mazda 6e built for overseas markets rolled off the assembly line Thursday. Mazda’s new EV will arrive in Europe, Southeast Asia, and other overseas markets later this year. This could be the start of something with a new SUV due out next.

Mazda’s new EV rolls off assembly for overseas markets

The Mazda EZ-6 has been on sale in China since October with prices starting as low as 139,800 yuan, or slightly under $20,000.

Earlier this year, Mazda introduced the 6e, the global version of its electric car sold in China. The stylish electric sedan is made by Changan Mazda, Mazda’s joint venture in China.

After the first Mazda 6e model rolled off the production line at the company’s Nanjing Plant, Mazda said it’s ready to “conquer the new era of electrification with China Smart Manufacturing.”

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The new global “6e” model will be built at Changan Mazda’s plant and exported to overseas markets including Europe, Thailand, and other parts of Southeast Asia.

Mazda calls it “both a Chinese car and a global car,” with Changan’s advanced EV tech and Mazda’s signature design.

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Mazda 6e electric sedan during European debut (Source: Changan Mazda)

Built on Changan’s hybrid platform, the EZ-6 is offered in China with both electric (EV) and extended-range (EREV) powertrains. The EV version has a CLTC driving range of up to 600 km (372 miles) and can fast charge (30% to 80%) in about 15 minutes.

Mazda’s new EV will be available with two battery options in Europe: 68.8 kWh or 80 kWh. The larger (80 kWh) battery gets up to 552 km (343 miles) WLTP range, while the 68.8 kWh version is rated with up to 479 km (300 miles) range on the WLTP rating scale.

At 4,921 mm long, 1,890 mm wide, and 1,491 mm tall, the Mazda 6e is about the size of a Tesla Model 3 (4,720 mm long, 1,922 mm wide, and 1,441 mm tall).

Mazda said the successful rollout of the 6e kicks off “the official launch of Changan Mazda’s new energy vehicle export center” for global markets.

The company will launch a new SUV next year and plans to introduce a third and fourth new energy vehicle (NEV).

Although prices will be announced closer to launch, Mazda’s global EV will not arrive with the same $20,000 price tag in Europe as it will face tariffs as an export from China. Mazda is expected to launch the 6e later this year in Europe and Southeast Asia. Check back soon for more info.

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