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Up-and-coming Chinese EV maker NIO’s stock is falling after announcing a proposed total of $1 billion in convertible senior notes on Monday.

NIO revealed in an SEC filing it plans to issue two batches of $500 million notes, convertible to American depository shares (ADS) with long-dated maturities in 2029 and 2030.

The EV maker plans to use the funds to “further strengthen its balance sheet as well as for general purposes.” NIO ended the second quarter with nearly $2 billion in cash and equivalents.

On NIO’s second-quarter earnings call in late August, Citi analyst Jeff Chung inquired about the company’s refinancing plan and cash flow projection going forward.

Stanley Qu, senior vice president of finance, responded, “I think as the delivery volume ramp-up from Q3 this year, our operating cash flow will be significantly improved” compared to the first half of the year.

Qu also explained that “both our US dollar and also RMB financing channels remain open.” He added, “And regarding the financing – refinancing plan, we will disclose our plan accordingly if there is any capital market-related updates.”

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NIO second-generation ES6 electric SUV (Source: NIO)

NIO stock falls following proposed fundraising

The fundraising comes shortly after NIO received a $1.1 billion investment from CYVN Holdings in June, an investment firm backed by the Abu Dhabi government. Following the transaction, CYVN owns around 7% of outstanding NIO shares.

NIO’s second-quarter earnings showed falling vehicle deliveries, revenue, and margins as it revamps its lineup to better position itself to compete in the future.

While vehicle deliveries fell 24% (23,520) from the first quarter (31,041), losses swelled by over 119% YOY to $835 million.

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NIO 1-year stock chart (Source: TradingView)

Following the fundraising announcement, NIO stock fell 17% in Tuesday’s trading session. The drop comes after NIO’s shares peaked at $16.18 in early August following a two-month run.

CEO William Li said, “Attributed to the product transition based on the NT2.0 Platform, coupled with the expansion of our power network and the strengthening of our sales capabilities, we expect a solid growth in vehicle deliveries in the second half of 2023.”

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NIO ET5 Touring designed for Europe (Source: NIO)

NIO launched several new models this past quarter expected to help drive sales and expand the brand, including the new ES6, launched in late May, and the ET5 Touring electric station wagon in June. It also launched the new EC6 SUV last week.

The new models helped push NIO’s deliveries up 103% YOY in July, as cumulative deliveries reached 364,579.

Looking ahead, NIO plans to deliver between 55,000 and 57,000 vehicles between July and September, representing an increase of around 74% to 80% YOY.

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Greenlane sweetens electric truck purchases with charging perks

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Greenlane sweetens electric truck purchases with charging perks

Greenlane, which provides public charging infrastructure for electric trucks, just rolled out a new dealer program called “Charge On Us,” which offers $500 in charging credits and six months of free Greenlane Edge subscription access with every qualifying electric truck purchase. The offer applies across light-, medium-, and heavy-duty models. Velocity Truck Centers, one of North America’s largest commercial truck dealers with 65 locations across the US, is the first partner to sign on.

Scott Zeppenfeldt, COO of Velocity, said charging is the biggest unknown for customers considering the switch. “Where to charge, how to support it, and how to pay for it all” often stops fleets from moving forward, he explained. “Greenlane’s ‘Charge On Us’ program removes those hurdles by letting our customers rely on public infrastructure instead of investing time and money in their own charging setup. We’re excited to run pilot programs out of their flagship Colton facility and utilize other sites on their network. This gives us a real-world proving ground to show customers how straightforward electric can be when the charging piece is handled.”

For dealers, the program comes with sales support, marketing resources, and customer service, plus access to Greenlane’s growing public charging network. Dealers also get subscriptions to the network, which makes it easier to run pilots at Greenlane facilities and test the experience with customers. The Greenlane Edge subscription unlocks discounted charging rates, advanced reservation tools, and billing software that can lower the total cost of ownership and streamline freight operations. Fleets also gain access to real-time charging data, route planning support, and consolidated billing.

“As more heavy-duty fleets shift to electric, we need to address the real concerns holding them back: where to charge, cost, and how to deploy charging infrastructure day one,” said Patrick Macdonald-King, CEO of Greenlane. “Our program tackles these issues by providing immediate charging credits, access to high-speed chargers, and our technology ecosystem that delivers a seamless charging solution. Partnering with Velocity helps us scale that impact and make electrification easier for more companies by lowering the cost of entry and complexity of procuring power and deploying infrastructure.”

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Greenlane opened its flagship charging center in Colton, California, in April. The site features over 40 high-speed chargers, including 12 pull-through and 29 bobtail lanes built for medium- and heavy-duty EVs. It also offers driver-friendly amenities like restrooms, wifi, carports, and 24/7 security, plus extras such as office space and parking. The Colton facility sits at the junction of I-215 and I-10 and anchors Greenlane’s I-15 charging corridor linking Los Angeles and Las Vegas. It’s also part of the I-10 corridor, with new sites on the way in Blythe, California, and Greater Phoenix.

Read more: Greenlane launches a second long-haul EV truck corridor pilot


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Jeep axes the Gladiator 4xe, the plug-in hybrid pickup that we were promised

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Jeep axes the Gladiator 4xe, the plug-in hybrid pickup that we were promised

The Jeep Gladiator 4xe is dead before arrival. Jeep’s plug-in pickup was expected to arrive as a sibling to the Wrangler PHEV, but that will no longer be the case.

Why did Jeep cancel the Gladiator 4xe?

Jeep’s plug-in hybrid pickup was set to arrive this year. As a midsize pickup and one of the best-selling Jeep vehicles in the US, the Gladiator is a perfect fit for a plug-in hybrid (PHEV) system, right?

It seemed like it, but Jeep maker Stellantis disagrees. According to a report from Automotive News, Stellantis told its suppliers that it’s no longer planning to launch the Gladiator 4xe.

The Gladiator PHEV is the latest vehicle that Stellantis has canceled as it reassesses its product lineup in the US.

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A company spokesperson confirmed the decision with Car and Driver, saying, “As customers’ propulsion preferences for battery-electric trucks continue to evolve, Stellantis is reassessing its product strategy and will no longer include an electrified Gladiator variant in the Jeep lineup.”

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The 2025 Jeep Gladiator Willys (Source: Stellantis)

The spokesperson added that Jeep has “already begun reinvesting funding to ensure the long-term growth of the Jeep Gladiator and will introduce even more customer-requested factory features, customization, and additional powertrain options in the near future.”

Does that mean an “electrified” option is still in the pipeline? It could. Earlier this month, Stellantis canceled Ram’s all-electric pickup, the Ram 1500 REV. It also dropped the base R/T trim from the Dodge Charger EV.

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2025 Jeep Gladiator NightHawk (Source: Stellantis)

The Ramcharger, a range-extended electric vehicle (REEV), will instead take its spot and name (Ram 1500 REV). With the plug-in hybrid Gladiator 4xe canceled, Jeep’s Gladiator could be next in line for an REEV powertrain option.

Until then, Jeep still offers plug-in hybrid Wrangler and Grand Cherokee models, which were the top two best-selling PHEVs in the US in the first half of 2025.

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XCharge NA is now leasing DC fast chargers to small businesses

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XCharge NA is now leasing DC fast chargers to small businesses

XCharge North America (NA) and Ascentium Capital have launched a new leasing program to help small-business owners host DC fast chargers without having to front huge amounts of cash or rely on government incentives.

Businesses can lease XCharge NA’s DC fast chargers – up to 400kW – for an affordable monthly rate. That way, they can tap into the US public DC fast-charging market, which is expected to grow at a 14% compound annual rate through 2040 and generate $3.3 billion in annual market value, without paying steep upfront costs. Unlike charging-as-a-service models, where operators earn a percentage of the revenue, lessees in this program can earn the full charging revenue.

The program is modeled after a financing structure used in the auto industry. It bundles installation, equipment, warranties, and maintenance into a single package to simplify things for business owners. XCharge NA says its GridLink and C6 chargers can also be installed faster than typical fast chargers, and the equipment can be moved to different sites if needed. Because the chargers integrate with existing infrastructure, businesses don’t need to worry about major grid upgrades or transformer installations.

“At our core, XCharge NA has always been focused on making EV charging more accessible for businesses of all sizes – from high-traffic airports to small-business owners,” said Aatish Patel, co-founder and president of XCharge NA. “Our new financing model was designed to mitigate risk for individuals looking to get into EV charging without significant upfront [capital expenditure].”

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Patel added that working with Ascentium brought the financial expertise needed to make the program possible. Stephen Interlicchio, senior vice president of strategic services for Ascentium, said, “This type of flexible capital option is exactly what the industry needs now, especially to empower small businesses and real estate owners that don’t have the ability to pay significant costs up front but are committed to participating in the EV transition.”

Leasing a C6 EV charger (pictured) starts at $800 a month. You can learn more here.

Read more: Texas trailblazes with DC fast chargers with integrated battery storage


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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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