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Siemens Energy shares soared as much as 13% on Wednesday after the German renewables firm raised its forecast for the year and announced that the CEO of its troubled wind turbine unit will be replaced amid “comprehensive restructuring measures.”

It said in a statement that Jochen Eickholt at Siemens Gamesa informed the board that he will step down from his position as CEO by mutual agreement on July 31, and be succeeded by Vinod Philip.

“In a very difficult situation at Siemens Gamesa, Jochen laid the central foundations for the urgently needed reorganization and new start within Siemens Energy. It is only fair to emphasize that the causes of the quality problems did not fall under his tenure as CEO,” said Siemens Energy CEO Christian Bruch in a statement. 

It said that Gamesa had initiated comprehensive restructuring measures and “steps for long-term strategic development” in order to boost operating margins.

Strong demand for power grid equipment amid the company’s “success” in stabilizing the wind business led Siemens on Wednesday to raise its forecast for the year.

Power-generating Siemens 2.37 megawatt (MW) wind turbines are seen at the Ocotillo Wind Energy Facility California, May 29, 2020.

Bing Guan | Reuters

For the full year, the company now expects a comparable revenue growth between 10% and 12% and a profit margin before special items between negative 1% and positive 1%. It previously forecast comparable revenue growth between 3% and 7% and a profit margin before special items between negative 2% and positive 1%.

Shares of Siemens Energy traded 11.3% higher at around 9:45 a.m. London time.

Speaking to CNBC’s “Squawk Box Europe” on Wednesday, CEO Bruch said Siemens Energy had enjoyed a “good quarter,” citing “very positive” order momentum in energy. However, he warned the company still needed to work through some quality issues.

“We are tackling the things in wind. We have been working over the last two years on a lot of things. Jochen launched a lot of the right activities in terms of this operational turnaround. We knew it was going to take years for us to really get it back on track,” Bruch said.

“Going forward, we are going to be active in onshore and offshore. We are going to focus the business on offshore more. We hammer down on the volume product in offshore,” he added.

A tough 2023

Siemens Energy suffered a rough 2023. Problems with manufacturing faults at Gamesa forced the parent company to a 4.6 billion euro ($4.94 billion) loss for the fiscal year. An investigation into quality issues was launched at the wind turbine division.

In June, during a particularly turbulent time for the stock, Siemens Energy scrapped its profit forecast and warned that the costly failures at Gamesa could drag on for years.

Siemens Energy working through wind turbine quality issues, CFO says

The wind industry has expanded rapidly over the past two decades, lowering costs to rival — and sometimes undercut — those of fossil fuels, while boosting efficiency with ever-bigger turbines and reducing reliance on state subsidies. But the issues last year led investors to worry that Gamesa’s problems might be a symptom of a wider problem for the industry.

Meanwhile on Wednesday, Siemens Energy reported a net income of 108 million euros for the last quarter and raised its outlook on “stronger growth and positive cash development.” 

— CNBC’s Elliot Smith contributed to this article.

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Honda is already testing a new electrified Civic: Here’s our first look

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Honda is already testing a new electrified Civic: Here's our first look

A new Civic is in the works that’s bringing much more than just a new look to Honda’s best-selling vehicle. Here’s our first look at the next-gen Honda Civic.

Honda previews next-gen Civic with new hybrid system

During an event held for the media on Wednesday, Honda offered a look at some of the advanced new tech it plans to roll out over the next few years.

Although it just launched the current Civic Hybrid last year, Honda is already working on its replacement. Honda didn’t confirm or deny that the Civic was under the camouflage, but it was pretty evident.

The new Civic will ride on Honda’s next-gen hybrid (HEV) platform, designed for mid-size vehicles. Honda’s new hybrid system is nearly 200 lbs (90 kg) lighter and more flexible, which it said provides “excellent fuel economy” while also improving the driving experience.

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According to Car and Driver, which drove the new Civic, the interior is also getting redesigned. Honda covered most of it, but you could still see what appeared to be a larger, at least 15″ infotainment screen at the center.

Honda-Civic-new-hybrid
Honda tests new hybrid (HEV) platform (Source: Honda)

Honda is keeping most powertrain details a secret for now, but the new Civic appears to have an electrified drive unit similar to those found in the Accord and CR-V.

The company said the direct-drive motor and generator motor are smaller, more efficient, and free from rare-earth materials. Honda also said the battery, located under the rear seat, is all-new. It will be used for upcoming compact and mid-size vehicles, which Honda said will help reduce costs.

Honda-Civic-new-hybrid-platform
(Source: Honda)

As for how it drives, Car and Driver said the new Honda Civic was quick off the line thanks to its direct-drive setup. However, the test track was too smooth to really judge the ride quality.

Like the new Honda Prelude, the Civic will feature S+ Shift, which simulates gear-shifting via paddles on the steering wheel.

Honda-Civic-new-hybrid
(Source: Honda)

The prototype had exhaust pipes, but they likely won’t make it to the production model. Honda plans to launch several next-gen hybrids on the new HEV platform, starting from 2027. The next-gen Honda Accord may even arrive before the Civic, debuting on the hybrid system.

Honda said it’s also developing a next-gen platform for large-size HEVs to meet the growing demand in North America.

Using a next-gen V6 engine with extended fuel-efficient range, Honda said it aims to improve fuel efficiency by 30% compared to its current ICE vehicles. Honda’s larger HEVs will likely go on sale closer to 2028.

Honda also showcased the Super-ONE Prototype during the event, its compact EV set to launch in Japan in 2026, followed by the UK and other global markets.

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Will Zero bring its new 60 MPH electric scooter to the US?

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Will Zero bring its new 60 MPH electric scooter to the US?

Zero Motorcycles turned heads in Milan at EICMA 2025 with the unveiling of its new LS1 electric scooter, a sleek and practical 60 mph (100 km/h) commuter built for European city streets. With its swappable batteries, off-board charging, and smart safety tech like ABS and traction control, the LS1 is clearly a strong contender in the urban EV space. It also marks a major shift for Zero, expanding beyond full-size electric motorcycles into a more accessible, everyday format.

But will it come to the US market?

At the show I had the chance to speak with James Callahan of Zero, and he confirmed that the LS1 is not coming to the US market, at least not in its current form or in the near future. “The scooter market in the US is still very small,” Callahan explained, “so for now, we’re focused on Europe, where the demand is much higher.”

And while interest from American riders may exist, there’s another hurdle: the LS1 isn’t homologated for the US, meaning it doesn’t meet certain regulatory standards like the NHTSA’s lighting requirements. Its slick continuous LED turn signal bar would need to be redesigned entirely, among other tweaks to the design.

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The LS1 comes equipped with two removable batteries that live in the floorboard and can be charged indoors using an 800W charger – or even faster with a 1,500W upgrade. A third battery can be added under the seat for extended range, while that same underseat storage area also hides a cavity large enough for a helmet or groceries.

Add in a low seat height, a short wheelbase, and user-friendly features, and you’ve got a solid commuter platform. But it’s a platform that we’re not likely to see in the US for a long time.

So while the LS1 represents an exciting new chapter for Zero in Europe, fitting with the company’s recent move out of California and into the Netherlands, don’t expect to see it zipping down US streets anytime soon.

Though it’s not all bad news for our American readers. There’s a spark of hope that Zero’s more affordable off-road electric motorcycles launched in the US market this year could be getting street-legal homologation, though not immediately. More on that soon…

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Toyota’s selling cars faster than it can build them, saying it can ‘barely cover the demand’

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Toyota's selling cars faster than it can build them, saying it can 'barely cover the demand'

Toyota is selling cars faster than it can build them. With strong demand for hybrids, the company says it can “barely cover the demand.”

Toyota’s hybrids fuel sales growth in 2025

After reporting its fiscal second-quarter earnings on Wednesday, Toyota raised its sales and earnings forecast for the year.

In the first half of the fiscal year, the company sold a record 5.27 million vehicles, up 105% compared to the same period in 2024. Those numbers include its luxury Lexus brand.

Toyota said “strong demand from customers around the world” led to higher sales, particularly in Japan and North America. Hybrid vehicles primarily drove growth, with higher demand in competitive markets such as North America and China.

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The Japanese automaker sold 2.27 million hybrids (HEVs) in the first six months of the fiscal year 2026. Including battery-electric vehicles (BEVs), plug-in hybrids (PHEVs), and fuel-cell electric vehicles (FCEVs), Toyota’s total “electrified” vehicles accounted for 47% of its total sales.

Toyota-sales-Q2-2026
(Source: Toyota)

Toyota said the new RAV4, its best-selling vehicle globally, is carrying the growth as the first to adopt its software-defined platform, Arene.

Like most automakers, Toyota took a hit from the US auto tariffs. The company expects the 15% tariff will cost an extra 1.45 trillion yen ($9.4 billion) in the fiscal year.

Toyota-hybrid-sales
Toyota RAV4 PHEV (Source: Toyota)

Toyota expects higher sales, and cost-cutting measures will lessen the blow. It raised operating profit guidance for the fiscal year ending March 31, 2026, to 3.4 trillion yen ($22 billion). That’s up from its previous guidance of 3.2 trillion yen ($20.8 billion), but still a 28% decrease compared to the previous fiscal year.

Toyota-2026-bZ-prices
2026 Toyota bZ electric SUV (Source: Toyota)

“In terms of sales, we expect a very healthy situation going forward,” Toyota’s CFO, Kenta Kon, said during a news conference with reporters on Wednesday (via Automotive News).

According to Kon, Toyota is still seeing “strong demand,” so much so that “we can barely cover the demand,” he added.

Electrek’s Take

Although hybrids are carrying the growth, Toyota’s BEV sales are still lagging. In the US, Toyota sold just 61 bZ electric SUVs in September. Through the first nine months of the year, Toyota sold just 12,264 bZs, down from 13,577 in the same period last year.

With the 2026 BZ upgrade rolling out and new EVs arriving soon, including the C-HR and bZ Woodland, Toyota’s BEV sales are expected to gain momentum over the next few months finally.

At the Japan Mobility Show, the company revealed plans for five unique brands under the Toyota Group, which it says will provide a diverse range of vehicles designed for every buyer.

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