Connect with us

Published

on

The new Volvo EX90 electric SUV will hit the market with the “world’s first EV battery passport” later this year. Volvo is launching the EV battery passport to show car buyers key info like the battery’s composition, where its materials are from, and its carbon footprint.

Volvo was one of the first legacy automakers to commit to an all-electric future by 2030. And it continues to stand by that promise today.

The automaker’s commitment has paid off so far, with new all-electric models rolling out in key markets globally. Volvo launched the EX30, its smallest and most affordable EV, last year. Despite its compact size, the EX30 is already having a significant impact.

Volvo sold over 14,500 EX30 models in the first three months of 2024, surpassing the EC40 (6,000) while closing in on the EX40 (17,400).

The EX30 pushed Volvo to a new all-time sales record in March, as it’s already living up to its promise of being a profitable growth driver. Volvo will sell the EX30 in over 90 countries by the end of the year.

Volvo is also planning to begin production of its flagship three-row EX90 electric SUV soon. After delaying it last year, Volvo said EX90 production is expected to start in the first half of 2024.

Volvo-EV-battery-passport
Volvo EX90 (Source: Volvo)

Volvo EX90 to include ‘world’s first’ EV battery passport

Volvo is launching “the world’s first EV battery passport” set to debut on the new EX90, the automaker told Reuters Tuesday.

The solution was developed by Volvo and UK startup Circulor over the past five years. Using blockchain technology, it will show buyers information about the vehicle’s battery, such as its composition, where its materials are from, its recycled content, and its carbon footprint.

Battery passports will be mandatory for new electric cars sold in Europe starting in February 2027.

Volvo is getting ahead of the pack, as Vanessa Butani, the company’s head of global sustainability, told Reuters.

“It’s really important for us to be a pioneer and a leader,” Butani said. By launching it three years ahead of the deadline, Volvo aims to be more transparent with buyers as it moves toward an all-EV future.

Volvo-EX90-price
Volvo EX90 three-row seating (Source: Volvo)

To view key battery info, owners can simply scan a QR code on the inside of the driver’s side door.

Although the EX90 will be the first to feature the new tech, it will eventually be included on all Volvo electric cars.

Volvo-EX90-price
Volvo EX90 interior (Source: Volvo)

Volvo plans to pass a more advanced version to regulators that will include real-time EV battery health information. According to Circulor CEO Douglas Johnson-Poensgen, it will cost around $10 per EV for 15 years.

Volvo’s new EX90 will start at $77,000 in the US when it launches this year. The luxury three-row electric SUV will be available in Twin Motor and Twin Motor Performance trims.

2025 Volvo EX90 trim Starting price
(*excluding
destination)
Twin Motor Plus 7-seater $76,695
Twin Motor Plus 6-seater $77,195
Twin Motor Ultra 7-seater $81,045
Twin Motor Ultra 6-seater $81,545
Performance Plus 7-seater $81,695
Performance Plus 6-seater $82,195
Performance Ultra 7-seater $86,045
Performance Ultra 6-seater $86,545
2025 Volvo EX90 price and configurations

The AWD Twin Motor version packs 402 hp and 568 lb-ft of torque, while the Performance includes 496 hp and 671 lb-ft of torque.

Both EX90 variants are powered by a 111 KWh battery with up to 300 miles range. Buyers will be able to choose from either six-or seven-seat layouts.

Inside, the EX90 features Volvo’s new 14.5″ infotainment with Android Auto and Apple CarPlay support. You can reserve your EX90 on Volvo’s website today.

Electrek’s Take

Although Volvo is launching the “world first” EV battery passport, other automakers have released proof-of-concepts.

Tesla and Audi were among the first automakers to participate in the Global Battery Alliances (GBAs) EV battery passport proof of concept last year.

Tesla showed one for cobalt on a long-range battery pack built for China. You could see that 100% of the cobalt in the battery cells came from Glencore’s Kamoto Copper Company. Meanwhile, Audi took it a step further by showing lithium content.

Volvo’s former racing team, Polestar, another Geely-owned automaker, is also working to make its materials more traceable. Its Polestar 0 project aims to create a climate-neutral car by cutting all supply chain, manufacturing, and end-of-life emissions.

Although the US does not have EV battery passport mandates, it could follow in the EU’s footsteps. Automakers need proof of where their EV battery materials come from, so a mandate may make sense.

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

Continue Reading

Environment

Saudi Aramco posts drop in quarterly revenues amid lower crude, oil products prices

Published

on

By

Saudi Aramco posts drop in quarterly revenues amid lower crude, oil products prices

Members of media chat before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. 

Hamad I Mohammed | Reuters

Saudi Aramco on Tuesday posted a drop in second-quarter revenues, citing lower crude oil and refined chemical products prices that were only partially offset by higher traded volumes.

The world’s largest oil company declared an adjusted net income of 92.04 billion Saudi riyal ($24.5 billion) over the three months to the end of June. The result compares with a forecast of adjusted net income of $23.7 billion, according to an analyst survey estimate supplied by the company.

Second-quarter revenues dropped to 378.83 billion Saudi riyals from 425.71 billion Saudi riyal in the same period of the previous year.

“Market fundamentals remain strong and we anticipate oil demand in the second half of 2025 to be more than two million barrels per day higher than the first half,” Aramco CEO Amin Nasser said in a Tuesday statement accompanying the results.

Crude prices have stayed depressed over the course of the year, barring a brief second-quarter flare-up sparked by Israel-Iran tensions. Futures have been under pressure from an uncertain outlook for demand, exacerbated since April by the rollout of Washington’s wide-spanning tariffs. The protectionist trade measures muddy the picture for growth in the world’s largest economy and the future of the U.S. dollar, which denominates most commodities — including crude oil.

Aramco’s income is set to see a boost from higher output, after Saudi Arabia – and seven other OPEC and non-OPEC partners — complete unwinding 2.2 million barrels per day of voluntary cuts through a last tranche in September. Saudi Arabia most recently produced 9.356 million barrels per day in June, according to independent analyst estimates compiled in OPEC’s Monthly Oil Market Report.

Aramco has increasingly tapped debt markets, with two issuances totalling $9 billion in the second half of 2024 and a three-part bond sale of $5 billion this year.  

Front of mind for investors is the dividend policy at Aramco, which in March slashed investor returns for 2025 to $85.4 billion — down sharply from the $124.2 billion of 2024 — after a first-quarter decline in net profits. Aramco declared a base dividend of $21.1 billion and a performance-linked dividend of $0.2 billion in the third quarter.

The company’s dividend yield stood at 5.5% as of Monday, still ahead of U.S. industry peer Exxon Mobil‘s 3.6% and Chevron‘s 4.5%, according to FactSet data.

Aramco’s payouts ripple sharply into the budget of Saudi Arabia, which has been juggling diversifying its economy away from oil reliance under Crown Prince Mohammed bin Salman’s signature Vision 2030 program. Saudi Arabia’s gross domestic product expanded by 3.9% in the second quarter, boosted by non-oil activities.

Continue Reading

Environment

California’s grid gets a record power assist from a 100k home battery fleet

Published

on

By

California's grid gets a record power assist from a 100k home battery fleet

More than 100,000 home batteries across California stepped up as a virtual power plant last week in a scheduled test event, and the results were impressive, according to new analysis from The Brattle Group.

Sunrun was the largest aggregator, Tesla was the largest OEM, and most of the batteries were enrolled
in California’s Demand-Side Grid Support (DSGS) program.

Sunrun’s distributed battery fleet delivered more than two-thirds of the energy during a scheduled two-hour grid support test on July 29. In total, the event pumped an average of 535 megawatts (MW) onto the grid – enough to power over half of San Francisco.

The event, run between 7 and 9 pm, was coordinated by the California Energy Commission, CAISO (California Independent System Operator), and utilities to prepare for stress on the grid during August and September heat waves. And it worked.

Advertisement – scroll for more content

Sunrun alone averaged over 360 MW during the two-hour window. The batteries kicked in right when electricity demand typically spikes in the evening, acting just like a traditional power plant, but from people’s homes.

Brattle’s analysis found that the battery output made a visible dent in statewide grid load, when the power is needed most. “Performance was consistent across the event, without major fluctuations or any attrition,” said Ryan Hledik, a principal at The Brattle Group. He called it “dependable, planning-grade performance at scale.”

The Brattle Group

Residential batteries, Hledik explained, don’t just help shave off demand during critical hours; they can reduce the need for new power plants entirely. “They can serve CAISO’s net peak, reduce the need to invest in new generation capacity, and relieve strain on the system associated with the evening load ramp,” he said.

This isn’t a one-off. Sunrun’s fleet already helped drop peak demand earlier this summer, delivering 325 MW during a similar event on June 24. The company compensates customers up to $150 per battery per season for participating.

Sunrun CEO Mary Powell summed it up: “Distributed home batteries are a powerful and flexible resource that reliably delivers power to the grid at a moment’s notice, benefiting all households by preventing blackouts, alleviating peak demand, and reducing extreme price spikes.”

Read more: The US’s largest virtual power plant now runs on 75,000 home batteries


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has 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 Advisors to help you every step of the way. Get started here.

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

Continue Reading

Environment

Hyundai’s new electric SUV may be heading overseas after all

Published

on

By

Hyundai's new electric SUV may be heading overseas after all

Hyundai’s new Elexio electric SUV, which is built in China, could be sold in overseas markets. The CEO of Hyundai Australia calls it “a promising vehicle” that could help the company regain market share from Tesla, BYD, and others.

Will Hyundai’s new Elexio SUV be sold overseas?

The Elexio SUV is the first dedicated electric vehicle from Hyundai’s joint venture with BAIC in China, Beijing Hyundai.

After unveiling it for the first time in May, Hyundai is preparing to launch the new Elexio in China in the next few weeks.

According to a new report, Hyundai’s new electric SUV could be sold in overseas markets, including Australia. Don Romano, the CEO of Hyundai Australia, told journalists (via EV Central) last week during the launch event for the new IONIQ 9 that the company has done a “terrible job” with its EVs so far.

Advertisement – scroll for more content

“And the only explanation for that is that we haven’t put enough focus into it,” he explained. However, Romano promises the automaker will do better.

Hyundai plans to boost marketing and support its dealership network, which only began selling IONIQ EV models a little over a year ago.

Hyundai's-new-electric-SUV-overseas
The Hyundai Elexio electric SUV (Source: Beijing Hyundai)

In what mostly went under the radar, Romano also suggested the new Elexio SUV could arrive in Australia. “It’s under evaluation now,” he said, adding, “it’s definitely a promising vehicle.”

Despite this, it may have a few hurdles to clear. Hyundai’s Australian boss explained, “I still have work to do to ensure that it’s the right vehicle in the right segment at the right price for our market. And I have not reached that level yet.”

Hyundai-Elexio-EV-interior
Hyundai Elexio electric SUV interior (Source: Beijing Hyundai)

Romano told journalists that a final decision needs to be made “in the next 60 to 90 days,” and to check back in three months when he will have a definitive answer.

Hyundai Australia is also looking to launch the IONIQ 2, a smaller, more affordable EV to sit between the Inster EV and Kona Electric.

Hyundai's-electric-SUV-overseas
Hyundai Elexio SUV (Source: Beijing Hyundai)

Romano said, “It’s a potential opportunity,” but didn’t provide any details. He said, at this point, he’s just glad Hyundai is producing it. “Now I just need to get the details and find out, will it fit into our overall product plan and create enough demand to where it becomes a viable option for us? So my initial thought is absolutely. Yep.” Hyundai Australia’s boss told journalists.

The new EVs would help Hyundai, which has been struggling to keep pace in the transition to electric, compete in Australia and other overseas markets.

Hyundai's-electric-SUV-global-test
Hyundai Elexio electric SUV during global testing (Source: Beijing Hyundai)

As of June 2025, Hyundai has sold only 853 EVs in Australia. In comparison, Tesla has sold 14,146 electric vehicles, and BYD has sold over 8,300. Even Kia is selling more EVs in Australia, with 4,402 units sold in the first six months of the year.

Measuring 4,615 mm in length, 1,875 mm in width, and 1,673 mm in height, Hyundai’s electric SUV is slightly smaller than the Tesla Model Y.

It recently underwent three consecutive crash tests among several other global evaluations, consistently outperforming benchmarks. Based on Hyundai’s E-GMP platform that powers nearly all Hyundai and Kia EVs, the Elexio has a CLTC driving range of up to 435 miles (700 km)

Hyundai is set to launch it in China in the third quarter of 2025. Prices have yet to be announced, but it’s expected to start at around 140,000 yuan ($19,500).

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

Continue Reading

Trending