Jaguar kills off its entire range for new era of extremely expensive EVs

Published

2 years ago

March 5, 2024

admin

British automaker Jaguar – set to become an EV-only brand next year – is officially ending production of its ICE vehicles by June and stepping into a new era of very expensive but powerful EVs. Assembly lines are stopping to transition to an entirely new EV platform from the one underpinning the long-troubled I-Pace.

Jaguar is looking for a fresh start, and that means the I-Pace is dying too, along with its current crop of gas- and diesel-powered road vehicles. At the moment, five cars are still on sale in the US – the XF sedan, E-Pace and F-Pace crossovers, F-Type roadster and coupe, and the electric I-Pace. But production is ending in June, while the I-Pace will continue to be built until likely next year.

The I-Pace, for its part, has had what seems like endless problems in the past, with the company recalling it last year due to battery fire risk. Not to mention a limited range of around 286 miles for a vehicle with a hefty price tag starting at $73,775 in the US.

But now Jaguar plans to launch a new generation of high-performance BEVs in 2025, and North American Jaguar Land Rover (JLR) CEO Joe Eberhardt told Road & Track that the company is scheduling the EV transition strategically as it ends production on the current lineup.

The last customers for the F-Type sports car are having their orders built now, and production will continue until June for the F-Pace midsize crossover, the E-Pace compact crossover, and the XF sedan. The I-Pace, built under contract in Austria by Magna Steyr, will end production last, most likely sometime early next year. Meanwhile, the company plans to stockpile vehicles to have supply ready for dealers, but Eberhardt didn’t offer details on how that will play out.

“The majority of our products cease production in June, but they will be on sale for a much longer time,” Eberhardt said. “We will have a production schedule that enables us to have a continuous supply of vehicles until the new cars come… We’re trying to time it so we have enough volume to take us through to the launch of the new product and have a clean handover.”

In the coming months, the company’s UK Castle Bromwich plant, where the F-Type, XF, and the smaller XE sedan are built, will transition to producing body panels for all of the brand’s models after vehicle production ends.

Jaguar’s first next-gen EV will be a four-door GT with prices upwards of £100,000 (about $127,000), and will be Jaguar’s most powerful road car of all time with upwards of 575 hp. The GT will be equipped with all-wheel drive and offer a 0 to 60 mph acceleration time of under four seconds. The car will be capable of fast charging and have a range of up to 434 miles (700 km).

Jaguar almost built something similar a few years ago with the full electric XJ, but it was canceled in 2021 after most of the development work was finished, costing the company a “nine-figure cost,” reports Road & Track. Apparently, the new EV will be completely unrelated to the canceled model, with styling managed by long-time Land Rover design chief Gerry McGovern.

The GT will also be the first variant to be built on the new Jaguar EV platform, the Jaguar Electric Architecture (JEA). Two other JEA-based crossovers are expected to join the GT soon after it debuts. The GT is expected to debut late this year, with sales starting next year.

Jaguar also says it won’t offer direct sales in the US, which is bucking the trend. Rather, US buyers can access the next-gen vehicles via dealers.

If you’re an electric vehicle owner, charge up your car at home with rooftop solar panels. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing on solar, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.

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

FTC: We use income earning auto affiliate links. More.

Environment

Exxon earnings fall on lower oil prices as OPEC+ raises production

Published

3 hours ago

October 31, 2025

admin

Exxon earnings fall on lower oil prices as OPEC+ raises production

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.

Environment

Chevron earnings beat Wall Street estimates as oil production hits record boosted by Hess acquisition

Published

3 hours ago

October 31, 2025

admin

Chevron earnings beat Wall Street estimates as oil production hits record boosted by Hess acquisition

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.

Environment

California quietly kills e-bike voucher program, funnels funds into cars instead

Published

6 hours ago

October 31, 2025

admin

California quietly kills e-bike voucher program, funnels funds into cars instead

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.

Advertisement – scroll for more content

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.