California-based EV startup Fisker’s (FSR) stock is trending higher Friday despite announcing plans to raise funds by offering $170 million in convertible notes.
Fisker announced in a press release Friday its intentions to offer $170 million in senior convertible notes to existing institutional investors.
The convertible notes are due in 2025, securing roughly $150 million in cash for the company. With 0% interest, Fisker is selling the notes at a 12% discount to attract investments.
Although the annual payout (less than 6%) for holding the note may not be great, converting to stock could be worth it. According to the SEC filing, the initial conversion price is $7.60, which would make more sense. But that’s if Fisker’s stock hits the mark.
The company says it’s raising funds to “accelerate deliveries, expand growth, and expedite the company’s vehicle programs.”
Fisker’s stock was surprisingly on the rise in Friday morning’s trading session following the news. Shares of Fisker are still down around 16% over the past 12 months, settling at about $6.40.
Typically, when a company issues convertible notes, its stock tends to fall as investors fear dilution. The more shares being offered, the less each shareholder owns of the company.
Fisker held a special meeting on August 30, 2023, where stockholders approved the potential issuance of up to 19.99% of outstanding shares. In other words, potential dilution.
Fisker Ocean electric SUV (Source: Fisker)
Unless the company gets additional shareholder approval, a maximum of 42,125,083 million shares (19.99%) of Fisker common stock) will be issuable upon conversion.
If investors decide to hold, Fisker will have to pay them back. The announcement comes after Fisker revealed separate plans to raise funds in July with a convertible note offering of $340 million.
Fisker ended the second quarter with $521.8 million in cash and equivalents (excluding the convertible bonds).
Electrek’s Take
Fisker began deliveries of its first EV, the Ocean electric SUV, in the US and Europe earlier this year. Although net losses fell from Q1, Fisker has yet to turn a profit.
Fisker’s plans to launch several new electric models while ramping production will be costly. The new funds will help accelerate growth, but at what cost to investors?
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A $5.7B lawsuit filed in Federal court alleges that Toyota operated what amounts an organized, fraudulent enterprise that intentionally concealed known, catastrophic safety defects associated with their hydrogen fuel cell-powered Toyota Mirai sedans.
Originally passed as part of the Organized Crime Control Act of 1970, the Racketeer Influenced and Corrupt Organizations (RICO) Act is designed to help prosecutors go after people or companies that commit a pattern of crimes as part of an ongoing organization or enterprise — like the Mafia (which doesn’t exist), or large-scale fraud operations at a corporation.
That RICO statute is now at the center of a new case against Toyota. In it, the plaintiff’s attorneys argue that Toyota knowingly engaged in a decade of fraud surrounding the hydrogen fuel cell-powered MIrai sedan that jeopardized public safety and breached the terms of a previous DOJ settlement.
The case, filed by Jason M. Ingber, lead attorney for the plaintiffs in the US District Court for the Central District of California, is a 142-page RICO complaint alleging that Toyota, its financing arm, and its California dealerships coordinated conspired to market and finance HFCEVs that technicians allegedly referred to as, “ticking hydrogen bombs.”
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“This lawsuit isn’t about a simple defect, it’s about organized fraud,” argues Mr. Ingber. “Toyota engineered, financed, and controlled California’s hydrogen network, then used that control to hide safety failures and financial harm to consumers.”
According to the complaint, Toyota and its hydrogen partner, FirstElement Fuel (True Zero), intentionally concealed evidence of:
hydrogen leaks near hot engine components, creating explosion risks
sudden power loss, acceleration, and braking failures leading to collisions and injuries
aggressive financial collection tactics by Toyota Motor Credit Corporation, targeting owners of inoperable vehicles.
The suit further argues that Toyota’s concealment of these facts violates a 2014 Deferred Prosecution Agreement with the US Department of Justice (DOJ), in which the company admitted to concealing safety defects surrounding the highly publicized incidents of unintended-acceleration and agreed to report all (emphasis mine) future safety issues truthfully.
Ingber is seeking treble damages for the class, injunctive relief, and a federal order halting Toyota’s hydrogen enterprise, citing a continuing pattern of mail and wire fraud.
“Toyota built its reputation on trust,” Ingber said, in a statement. “Our case will show how that trust is violated and why consumers deserve accountability now.”
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Solar and wind together accounted for 88% of new US electrical generating capacity added in the first eight months of 2025, according to data just released by the Federal Energy Regulatory Commission (FERC) which was reviewed by the SUN DAY Campaign. In August, solar energy alone provided two-thirds of the new capacity, marking two consecutive years in which solar has led every month among all energy sources. Solar and wind each added more new capacity than natural gas did. Within three years, the share of all renewables in installed capacity may exceed 40%.
Solar was 73% of new generating capacity YTD
In its latest monthly “Energy Infrastructure Update” report (with data through August 31, 2025), FERC says 48 “units” of solar totaling 2,702 megawatts (MW) came online in August, accounting for 66.4% of all new generating capacity added during the month. That represents the second-largest monthly capacity increase by solar in 2025, behind only January when 2,945 MW were added.
The 505 units of utility-scale (>1 MW) solar added during the first eight months of 2025 total 19,093 MW and accounted for 73.4% of the total new capacity placed into service by all sources.
Solar has now been the largest source of new generating capacity added each month for two consecutive years, between September 2023 and August 2025. During that period, total utility-scale solar capacity grew from 91.82 gigawatts (GW) to 156.20 GW. No other energy source added anything close to that amount of new capacity. Wind, for example, expanded by 11.16 GW while natural gas’ net increase was just 4.36 GW.
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Renewables were 88% of new capacity added YTD
Between January and August, new wind has provided 3,775 MW of capacity additions – more than the new capacity provided by natural gas (3,095 MW). Wind thus accounted for 14.5% of all new capacity added during the first eight months of 2025.
For the first eight months of 2025, the combination of solar and wind (plus 4 MW of hydropower and 3 MW of biomass) accounted for 88.0% of new capacity, while natural gas provided just 11.9%. The balance of net capacity additions came from oil (20 MW) and waste heat (17 MW).
Solar + wind are almost 25% of US utility-scale generating capacity
Utility-scale solar’s share of total installed capacity (11.62%) is now almost equal to that of wind (11.82%). If recent growth rates continue, utility-scale solar capacity should equal and probably surpass that of wind in the next “Energy Infrastructure Update” report published by FERC.
Taken together, wind and solar make up 23.44% of the US’s total available installed utility-scale generating capacity.
Moreover, almost 29% of US solar capacity is in the form of small-scale (e.g., rooftop) systems that are not reflected in FERC’s data. Including that additional solar capacity would bring the share provided by solar + wind to more than a quarter of the US total.
With the inclusion of hydropower (7.59%), biomass (1.06%), and geothermal (0.31%), renewables account for a 32.40% share of total US utility-scale generating capacity. If small-scale solar capacity is included, renewables make up more than one-third of total US generating capacity.
Solar is still on track to become the No. 2 source of US generating capacity
FERC reports that net “high probability” net additions of solar between September 2025 and August 2028 total 89,953 MW – an amount almost four times the forecast net “high probability” additions for wind (23,223 MW), the second fastest-growing resource.
FERC also foresees net growth for hydropower (566 MW) and geothermal (92 MW), but a decrease of 126 MW in biomass capacity.
Meanwhile, natural gas capacity is projected to expand by 8,481 MW, while nuclear power is expected to add just 335 MW. In contrast, coal and oil are projected to contract by 23,564 MW and 1,581 MW, respectively.
Taken together, the new “high probability” net capacity additions by all renewable energy sources over the next three years – i.e., the Trump Administration’s remaining time in office – would total 113,708 MW. On the other hand, the installed capacity of fossil fuels and nuclear power combined would shrink by 16,329 MW.
Should FERC’s three-year forecast materialize, by early fall 2028, utility-scale solar would account for 17.1% of installed U.S. generating capacity, more than any other source besides natural gas (40.0%). Further, the capacity of the mix of all utility-scale renewable energy sources would exceed 38%. Including small-scale solar, assuming it retains its 29% share of all solar, could push renewables’ share to over 41%, while natural gas would drop to about 38%.
“Notwithstanding impediments created by the Trump Administration and the Republican-controlled Congress, solar and wind continue to add more generating capacity than fossil fuels and nuclear power,” noted the SUN DAY Campaign’s executive director Ken Bossong. “And FERC foresees renewable energy’s role expanding in the next three years while the shares provided by coal, oil, natural gas, and nuclear all contract.”
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Is it an electric van? Pickup truck? The PV5 can do it all. Kia’s electric van was caught with two new body types for the first time.
What PV5 version is Kia planning to launch?
The PV5 is more than just a futuristic-looking electric van. It’s what Kia calls “the world’s most useful electric mobility vehicle.”
It’s the first from its new Platform Beyond Vehicle (PBV) business, which will offer a wide range of customizable EVs, advanced software, and much more.
During its PV5 Tech Day event in July, Kia revealed plans to introduce seven PV5 body types, ranging from a light camper to an open-bed truck.
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The PV5 Passenger and Cargo, built for personal and business use, are already rolling out in Europe and South Korea. The Cargo Compact (available in 3- and 4-door configurations) and the Cargo High Roof are also available.
New variants will include an open bed, a light camper, a luxury “Prime” passenger, a built-in truck, and a refrigerated truck.
The refrigerated truck was captured driving in public for the first time in South Korea, offering a closer look at what’s coming soon. Kia will launch three PV5 refrigerated truck models: low, standard, and high.
The video from HealerTV reveals the standard and high versions. In person, the reporter noted that the high version definitely appeared taller than the standard version.
Although the front looks like the PV5 Passenger and Cargo, the back is redesigned for the refrigerated unit. Kia has yet to reveal a launch date, but it’s expected to be by the end of 2025.
Another PV5 variant, the open-bed version, was recently spotted in public in South Korea. Although we’ve seen it a few times before, the new video, also from the folks at HealerTV, offers our best look at the truck-like variant from all angles.
Meanwhile, the PV5 Cargo just set a new Guinness World Record after driving 430.84 miles (693.38 km) on a single charge, while carrying a full load.
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