Connect with us

Published

on

Max Levchin, co-founder of PayPal and chief executive officer of financial technology company Affirm, arrives at the Sun Valley Resort for the annual Allen & Company Sun Valley Conference, in Sun Valley, Idaho.

Drew Angerer | Getty Images

Affirm shares soared 34% on Thursday and were on pace for their best day in almost three years, after the provider of buy now, pay later loans beat on the top and bottom lines in its earnings report.

If the rally holds, it will be the third-biggest rally for the stock since the company’s IPO in January 2021. The stock was trading at $42.17 as of early afternoon.

Following the market close on Wednesday, Affirm said revenue in the fiscal fourth quarter climbed 48% from a year earlier to $659 million, and that its net loss narrowed to $45.1 million from $206 million in the same period a year ago. The company beat estimates for revenue and reported a narrower-than-expected loss.

For the current quarter, Affirm sees revenue in the range of $640 million and $670 million. Analysts polled by LSEG called for revenue of $625 million.

Affirm CEO Max Levchin said in a note to shareholders that the company set a new goal of hitting operating profitability on a GAAP basis by the fiscal fourth quarter of 2025.

Analysts for Mizuho called it a “killer quarter” for Affirm in a note on Thursday, and said the “prospect of turning GAAP operating income-positive” will be “a major milestone.”

Even after Thursday’s rally, Affirm shares are still down about 14% for the year, while the Nasdaq is up 18%. But the stock has been trending higher lately, up 50% in August. Federal Reserve Chairman Jerome Powell signaled Friday that lower interest rates could be coming as soon as September.

Bank of America analysts said in a note last month that rate cuts would be beneficial to Affirm’s funding costs and for gain on loan sales. The company moved its merchants to a 36% APR cap on loans, up from 30% previously, and analysts said this “should remain a tailwind for yields and GMV growth.”

Mizuho projects that a new Apple Pay partnership could add $12 billion to Affirm’s total addressable market once it goes live later this year.

WATCH: Affirm CEO on consumer behavior

Affirm CEO on consumer behavior: 'shopping is back on and people are buying'

Continue Reading

Environment

Tesla Robotaxi had 3 more crashes, now 7 total

Published

on

By

Tesla Robotaxi had 3 more crashes, now 7 total

Tesla reported three more crashes involving its Robotaxis in Austin, Texas – now bringing the total to 7 incidents despite low mileage and in-car supervisors preventing more accidents.

Since the launch of the ‘Robotaxi’ service in Austin, Texas, where Tesla moved the supervisor from the driver’s seat to the passenger seat, it now has to report crashes to NHTSA.

In the first month of operation in July, Tesla reported three crashes with its Robotaxi service.

The automaker reported one more Robotaxi crash last month, and this one was interesting because it coincided with Tesla announcing that the Robotaxi fleet had traveled 250,000 miles from its launch in late June to early November.

Advertisement – scroll for more content

It revealed Tesla’s current Robotaxi crash rate, which is about 2x higher than Waymo’s, despite in-car supervisors that prevent an unknown number of crashes.

Now, Tesla has reported to NHTSA three more incidents that happened with the Robotaxi fleet in Austin in September:

Report ID  Incident Date  Incident Time (24:00) City State    Crash With    Highest Injury  Severity  Alleged SV  Pre-Crash Movement  CP Pre-Crash Movement     Narrative       
13781-1178 7 SEP-2025 13:08 Austin   TX               Animal                     No Injured  Reported            Stopped      NM Crossing Roadway  [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1178 6 SEP-2025 03:43 Austin   TX   Non-Motorist: Cyclist  Property Damage.  No Injured  Reported         Stopped     Moving Alongside Roadway [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1178 4 SEP-2025 20:42 Austin   TX           Passenger Car Property Damage.  No Injured  Reported    Proceeding Straight     Backing [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1168 7 SEP-2025 01:25 Austin    TX     Other Fixed Object Property Damage.  No Injured  Reported       Making Left Turn     NaN [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1150 7 JUL-2025 03:45 Austin    TX          SUV       Property Damage.  No Injured  Reported            Stopped      Proceeding Straight [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1145 9 JUL-2025 12:20 Austin    TX     Other Fixed Object            Minor  W/O Hospit alization   Other, see Narrative     NaN [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]
13781-1137 5 JUL-2025 15:15 Austin    TX       SUV          Property Damage.  No Injured  Reported      Making Right Turn     Making Right Turn  [REDACTED, MAY CONTAIN CONFIDENTIAL BUSINESS INFORMATION]

Unlike other companies reporting to NHTSA, Tesla abuses the right to redact data reported through the system. The automaker redacts the “narrative” for each reported crash, preventing the public from knowing how the crashes happened and who is responsible.

Based on the limited information in Tesla’s reports, we know that one of the new crashes involved a Robotaxi driving into a car backing up, another involved a cyclist, and the last one involved an unknown animal.

Electrek’s Take

My favorite thing about reporting on those is the messages from Tesla fans who say: You don’t know how many of those Robotaxi are responsible for?

It’s funny because I agree, but whose fault is that? Tesla could do like every other company and report the narratives.

Waymo does, and it’s clear that it isn’t responsible for many of the crashes they are involved in. I am sure that’s the case with some of those Tesla Robotaxi crashes.

However, Waymo has hundreds of millions of rider-only autonomous miles, and Tesla has a few hundred thousand, all with a supervisor on board, a finger on a killswitch, ready to prevent further crashes. Who knows how many more crashes Tesla would have had without them?

I expect a few because humans generally have a crash, whether they are at fault or not, every 700,000 miles. Tesla has 7 in probably ~300,000 miles, which should be worrying to anyone, whether the Robotaxis were responsible or not.

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

Continue Reading

Environment

Hyundai is cooking up a new off-road SUV, and it sure looks electric

Published

on

By

Hyundai is cooking up a new off-road SUV, and it sure looks electric

Hyundai is bringing “something big” to the LA Auto Show this week, and the teaser points to a slick new off-road electric SUV. Here’s our first look.

What is this off-road Hyundai SUV?

The LA Auto Show is just days away, and Hyundai is gearing up to steal the spotlight once again. Last year, it was the IONIQ 9, Hyundai’s first three-row electric SUV. What will it be this year?

Hyundai gave us a sneak peek of a new “extreme off-road show vehicle,” the Crater Concept, ahead of its upcoming debut.

Although details are still pretty slim at this point, the sketch shows a high-riding, rugged SUV, clearly designed for off-roading with massive tires and aggressive wheel arches.

Advertisement – scroll for more content

Hyundai didn’t say what powertrain the off-road SUV will use, but given the closed-off grille and no visible tailpipes, all signs point to it being electric in some way. It could be a battery-electric (EV) or even a fuel-cell-electric vehicle (FCEV).

Hyundai-off-road-SUV-electric
Hyundai Crater off-road SUV concept (Source: Hyundai)

The Crater Concept looks a bit like the new Nexo, Hyundai’s dedicated hydrogen fuel cell vehicle. The updated Nexo introduces Hyundai’s new “Art of Steel” design language, which was first shown on the Concept THREE electric hot hatch in September.

Hyundai said the design theme “combines resilience with artistic form,” which exudes strength and sophistication.

Hyundai-off-road-SUV-electric
Hyundai Crater off-road SUV concept (Source: Hyundai)

The dour dot lamps on the Crater Concept look about the same as Hyundai’s new “HTWO” lamps, exclusive to its FCEVs.

Hyundai said the Crater Concept has been “crafted to amplify the same spirit and robustness found in Hyundai’s XRT production vehicles,” like the IONIQ 5 XRT, Santa Cruz XRT, and new Pallisade XRT Pro.

Hyundai-off-road-SUV-electric
Hyundai Crater off-road SUV concept (Source: Hyundai)

The design team at Hyundai Design North America also introduced its new design and ideation studio on Monday, codenamed “The Sandbox” internally.

Hyundai’s new creative hub is exclusively dedicated to creating new outdoor adventure vehicles and rugged Xtreme Rugged Terrain (XRT) gear.

Will the Nexo be next? It sure looks like it. Hyundai will reveal the Crater Concept during a livestream press conference at the LA Auto Show on November 20 at 9:45 am PT. Check back for updates.

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

Continue Reading

Environment

Electric big rigs get a new fast-charge pit stop in California

Published

on

By

Electric big rigs get a new fast-charge pit stop in California

Terawatt Infrastructure has switched on its newest commercial EV charging hub in Rialto, California, giving electric truck fleets a new high-speed charging stop along one of the US’s busiest freight routes.

The hub is situated on the eastbound side of I-10 and is designed for heavy-duty fleet use, particularly for trucks traveling from the Ports of Los Angeles and Long Beach through Southern California’s industrial centers.

Neha Palmer, Terawatt CEO and cofounder, said, “Our network enables companies to reduce emissions and run a variety of routes across a number of vehicle classes with the confidence of a dependable charging solution. EV fleets can now travel further, more cleanly, without slowing down their operations.”

The Rialto site is built with high‑speed charging, security, and amenities that support daily freight operations. Here’s what it offers:

Advertisement – scroll for more content

  • 18 pull‑through 350 kW DC fast‑charging stalls
  • 55 bobtail parking stalls for overnight or shift‑based parking
  • A driver lounge with wifi, climate control, and restrooms
  • License plate recognition for quick entry
  • Solar canopies and 100% renewable‑powered charging
  • 24/7 security with cameras and gated access

Terawatt’s first medium- and heavy-duty electric truck charging stop in California, Rancho Dominguez, opened in April.

In September 2024, Terawatt joined some of the world’s largest shippers and carriers to launch the I-10 Consortium heavy-duty EV operations pilot, described as the first-ever US over-the-road electrified corridor. As part of that effort, Terawatt is providing charging infrastructure, including software, operations, and maintenance support, at six of its owned charging hubs along the I-10 corridor.

Read more: Maersk, PepsiCo, others to pilot a heavy-duty EV charging corridor between LA and El Paso


If you’re looking to replace your old HVAC equipment, it’s always a good idea to get quotes from a few installers. To make sure you’re finding a trusted, reliable HVAC installer near you that offers competitive pricing on heat pumps, check out EnergySage. EnergySage is a free service that makes it easy for you to get a heat pump. They have pre-vetted heat pump installers competing for your business, ensuring you get high quality solutions. Plus, it’s free to use!

Your personalized heat pump 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. – *ad

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

Continue Reading

Trending