Formula E’s new car is all-wheel drive and accelerates faster than F1
Formula E unveiled its new “Gen3 EVO” car, an update to the Gen3 car which debuted last season, ahead of the Monaco ePrix this weekend.
The new car will be used for next season, and is basically a mid-cycle update of the Gen3 car which has been in service for last and this season. The succeeding Gen4 car is not expected until 2027.
The Gen3 car was introduced as both lighter and more powerful as the previous generation car, with a lot of promises about how much quicker it could be in the races.
It also utilized some pretty unique design ideas. The biggest difference is the addition of a front motor, but this motor was only used for braking, and conversely, the rear friction brakes were entirely deleted and instead the rear axle is braked only by the rear motor using regenerative braking, for a total of 600kW regenerative braking power.
However, The Gen3 didn’t turn out to be all that much faster. This often happens with new racecars as teams get used to tuning and using them, but teams struggled to harness the extra power available to them.
At the same time, the series switched tire providers, and the new tires may have proven to be a limiting factor.
Now, the Gen3 car is hoping to fix both of these problems at once. Not only has Hankook provided stickier tires (with 5-10% more grip, and made of 35% recycled materials) which should help to harness some of the car’s additional power, Formula E has also taken the rather unique move (in the world of formula cars) of activating the Gen3 car’s front motor for thrust, not just regen – thus making its cars all-wheel drive.
The Gen3’s inclusion of a front motor left many thinking – ourselves included – that it would inevitably get activated not just for regen, but for power delivery.
There have been all-wheel drive single seater open wheel cars in the past, but it has only been tried a few times. Currently, other open-wheel single seaters (like F1, IndyCar and the like) are rear-wheel drive only.
AWD has been popular on road cars recently, because it enhances acceleration and drivability. And on EVs, it’s quite easy to add, because you can just slap a second motor on the other axle and run a few cables to it, rather than needing to run driveshafts and gearing mechanisms all through your car to transfer the power from a single combustion engine to two separate axles.
However, sportscar and racing enthusiasts have often preferred rear-wheel drive because it makes cars more squirrelly and difficult to control, showcasing driver skill more readily.
So Formula E is going to allow all-wheel drive only in certain situations. During qualifying duels, race starts, and during the activation of “attack mode,” a temporary 50kW power boost that each driver gets at certain points in the race.
One complaint about the Gen3 cars was that attack mode was hard to use, because the car felt like it couldn’t properly utilize that additional 50kW. By activating the front motor, this should give drivers a huge advantage – quicker acceleration through and out of corners is an enormous benefit.
While 0-60 numbers don’t matter a lot for a racecar – they’re only ever at 0mph at one point, at the start of the race, after all – acceleration is still important for exiting corners, and gives you a lasting benefit for the entire straight if you can get a better exit than another racer. And the Gen3 EVO boasts a truly impressive 0-60 number: 1.82 seconds.
This 0-60 time is 30% quicker than an F1 car and 36% quicker than the Gen3 car, thanks to that front motor helping pull the car forward with 4 contact patches instead of 2.
In addition, the design of the car has changed somewhat. The nose and front wing have been redesigned from the (perhaps overly) angular design of the original Gen3 car. Over the last season and a half, cars have struggled with front wing damage, so hopefully the new wing will be a little more durable.
All told, Formula E says that the new car could be 1-3 seconds faster per lap, depending on circuit and whether the AWD system is in use. This would be a pretty massive improvement as far as laptimes go, but we’ll have to see how it plays out when next season comes around.
Now, if only we could also see that 600kW mid-race charging they’ve been working on…
The new Gen3 EVO car will start seeing use next season, but if you want to see the current Gen3 car in action, you can watch it this weekend at the Monaco ePrix.
The race proper starts at 6am PDT, 9am EDT, 1pm UTC, and 3pm local Monaco time on Saturday April 27. In the US, all sessions other than the race will be available on the Roku channel, practice sessions will be on Formula E’s YouTube, and the race will be on CBS/CBS Sports Network. To see how to watch the race in other countries, head on over to Formula E’s Ways to Watch site.
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Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks.
Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower.
The reversal came after a Bloomberg report that JPMorgan plans to start charging fintechs for access to customer bank data, a move that could raise costs across the industry.
For fintech firms that rely on thin margins to offer free or low-cost services to customers, even slight disruptions to their cost structure can have major ripple effects. PayPal and Affirm both ended the day nearly 6% lower following the report.
Despite its stellar year, the online broker is facing several headwinds, with a regulatory probe in Florida, pushback over new staking fees and growing friction with one of the world’s most high-profile artificial intelligence companies.
Florida Attorney General James Uthmeier opened a formal investigation into Robinhood Crypto on Thursday, alleging the platform misled users by claiming to offer the lowest-cost crypto trading.
“Robinhood has long claimed to be the best bargain, but we believe those representations were deceptive,” Uthmeier said in a statement.
The probe centers on Robinhood’s use of payment for order flow — a common practice where market makers pay to execute trades — which the AG said can result in worse pricing for customers.
Robinhood Crypto General Counsel Lucas Moskowitz told CNBC its disclosures are “best-in-class” and that it delivers the lowest average cost.
“We disclose pricing information to customers during the lifecycle of a trade that clearly outlines the spread or the fees associated with the transaction, and the revenue Robinhood receives,” added Moskowitz.
Robinhood is also facing opposition to a new 25% cut of staking rewards for U.S. users, set to begin October 1. In Europe, the platform will take a smaller 15% cut.
Staking allows crypto holders to earn yield by locking up their tokens to help secure blockchain networks like ethereum, but platforms often take a percentage of those rewards as commission.
Robinhood’s 25% cut puts it in line with Coinbase, which charges between 25.25% and 35% depending on the token. The cut is notably higher than Gemini’s flat 15% fee.
It marks a shift for the company, which had previously steered clear of staking amid regulatory uncertainty.
Under President Joe Biden‘s administration, the Securities and Exchange Commission cracked down on U.S. platforms offering staking services, arguing they constituted unregistered securities.
With President Donald Trump in the White House, the agency has reversed course on several crypto enforcement actions, dropping cases against major players like Coinbase and Binance and signaling a more permissive stance.
Even as enforcement actions ease, Robinhood is under fresh scrutiny for its tokenized stock push, which is a growing part of its international strategy.
The company now offers blockchain-based assets in Europe that give users synthetic exposure to private firms like OpenAI and SpaceX through special purpose vehicles, or SPVs.
An SPV is a separate entity that acquires shares in a company. Users then buy tokens of the SPV and don’t have shareholder privileges or voting rights directly in the company.
OpenAI has publicly objected, warning the tokens do not represent real equity and were issued without its approval. In an interview with CNBC International, CEO Vlad Tenev acknowledged the tokens aren’t technically equity shares, but said that misses the broader point.
“What’s important is that retail customers have an opportunity to get exposure to this asset,” he said, pointing to the disruptive nature of AI and the historically limited access to pre-IPO companies.
“It is true that these are not technically equity,” Tenev added, noting that institutional investors often gain similar exposure through structured financial instruments.
The Bank of Lithuania — Robinhood’s lead regulator in the EU — told CNBC on Monday that it is “awaiting clarifications” following OpenAI’s statement.
“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments,” a spokesperson said, adding that information for investors must be “clear, fair, and non-misleading.”
Tenev responded that Robinhood is “happy to continue to answer questions from our regulators,” and said the company built its tokenized stock program to withstand scrutiny.
“Since this is a new thing, regulators are going to want to look at it,” he said. “And we expect to be scrutinized as a large, innovative player in this space.”
SEC Chair Paul Atkins recently called the model “an innovation” on CNBC’s Squawk Box, offering some validation as Robinhood leans further into its synthetic equity strategy — even as legal clarity remains in flux across jurisdictions.
Despite the regulatory noise, many investors remain focused on Robinhood’s upside, and particularly the political tailwinds.
The company is positioning itself as a key beneficiary of Trump’s newly signed megabill, which includes $1,000 government-seeded investment accounts for newborns. Robinhood said it’s already prototyping an app for the ‘Trump Accounts‘ initiative.
WATCH: Watch CNBC’s full interview with Robinhood CEO Vlad Tenev
Korean auto giants Hyundai and Kia think lower-priced EVs will help minimize the blow from the new US auto tariffs. Hyundai is set to unveil a new entry-level electric car soon, which will be sold alongside the Kia EV2. Will it be the IONIQ 2?
Hyundai and Kia shift to lower-priced EVs
Hyundai and Kia already offer some of the most affordable and efficient electric vehicles on the market, with models like the IONIQ 5 and EV6.
In Europe, Korea, Japan, and other overseas markets, Hyundai sells the Inster EV (sold as the Casper Electric in Korea), an electric city car. The Inster EV starts at about $27,000 (€23,900), but Hyundai will soon offer another lower-priced EV, similar to the upcoming Kia EV2.
The Inster EV is seeing strong initial demand in Europe and Japan. According to a local report (via Newsis), demand for the Casper Electric is so high that buyers are waiting over a year for delivery.
Hyundai is doubling down with plans to introduce an even more affordable EV, rumored to be the IONIQ 2. Xavier Martinet, CEO of Hyundai Motor Europe, said during a recent interview that “The new electric vehicle will be unveiled in the next few months.”
The new EV is expected to be a compact SUV, which will likely resemble the upcoming Kia EV2. Kia will launch the EV2 in Europe and other global regions in 2026.
Hyundai is keeping most details under wraps, but the expected IONIQ 2 is likely to sit below the Kona Electric as a smaller city EV.
More affordable electric cars are on the way
Although nothing is confirmed, it’s expected to be priced at around €30,000 ($35,000), or slightly less than the Kia EV3.
The Kia EV3 starts at €35,990 in Europe and £33,005 in the UK, or about $42,000. Through the first half of the year, Kia’s compact electric SUV is the UK’s most popular EV.
Like the Hyundai IONIQ models and Kia’s other electric vehicles, the EV3 is based on the E-GMP platform. It’s available with two battery packs: 58.3 kWh or 81.48 kWh, providing a WLTP range of up to 430 km (270 miles) and 599 km (375 miles), respectively.
Hyundai is expected to reveal the new EV at the IAA Mobility show in Munich in September. Meanwhile, Kia is working on a smaller electric car to sit below the EV2 that could start at under €25,000 ($30,000).
According to the report, Hyundai and Kia are doubling down on lower-priced EVs to balance potential losses from the new US auto tariffs.
Despite opening its new EV manufacturing plant in Georgia to boost local production, Hyundai is still expected to expand sales in other regions. An industry insider explained, “Considering the risk of US tariffs, Hyundai’s move to target the European market with small electric vehicles is a natural strategy.”
Although Hyundai is expanding in other markets, it remains a leading EV brand in the US. The IONIQ 5 remains a top-selling EV with over 19,000 units sold through June.
After delivering the first IONIQ 9 models in May, Hyundai reported that over 1,000 models had been sold through the end of June, its three-row electric SUV.
While the $7,500 EV tax credit is still here, Hyundai is offering generous savings with leases for the 2025 IONIQ 5 starting as low as $179 per month. The three-row IONIQ 9 starts at just $419 per month. And Hyundai is even throwing in a free ChargePoint Home Flex Level 2 charger if you buy or lease either model.
Unfortunately, we likely won’t see the entry-level EV2 or IONIQ 2 in the US. However, Kia is set to launch its first electric sedan, the EV4, in early 2026.
Ready to take advantage of the savings while they are still here? You can use our links below to find deals on Hyundai and Kia EV models in your area.
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As EVBox shuts down its Everon business across Europe and North America, EV charging provider Blink Charging is stepping up to offer support to customers caught in the transition.
EVBox’s software arm Everon recently announced it’s winding down operations alongside EVBox’s AC charger business. That’s left a lot of charging station hosts and drivers wondering what comes next. Now, EVBox Everon is pointing its customers toward Blink as a recommended alternative.
Blink says it’s ready to help, whether that means keeping existing chargers up and running or replacing aging gear with new Blink chargers.
“EVBox has played a significant role in the growth of EV charging infrastructure across the UK and Mainland Europe, and we recognize the trust hosts have placed in its solutions,” said Alex Calnan, Blink Charging’s managing director of Europe. “With the recent announcement of Everon’s withdrawal from the EV charging market, it’s natural to have questions about what this means for operations. At Blink, we want to assure Everon customers that we are here to help them navigate this transition.”
Blink says it’s able to offer advice, replacements, and ongoing network management to make the changeover as smooth as possible.
Everon users who switch to Blink will get access to the Blink Network portal via the Blink Charging app. That opens up real-time insight into charger usage and lets hosts set pricing, manage users, and download performance reports.
“At Blink, our charging technology is future-ready,” added Calnan. “With advancements like vehicle-to-grid technology on the horizon, our chargers are built to support the future of electric vehicles and charging habits.”
The company says its chargers are in stock and ready to ship now for any Everon customers looking to make the jump.
In October 2024, France’s Engie announced it would liquidate the entire EVBox group, which it said posted total losses of €800 million since Engie took over in 2017. EVBox is closing its operations in the Netherlands, Germany, and the US.
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