Donald Trump wins a second presidential term, and BMW’s CEO Oliver Zipse came out with some quick remarks – amid what is likely panic among European automakers – that BMW will be fine because of its “very, very large footprint in the US.” Meanwhile, BMW’s profit margins hit a four-year low.
European automakers are now assessing the Trump victory and what that may mean for their businesses, as shares plummet today due to fears over escalating trade disputes. It’s no secret Trump’s stance on electric vehicles – despite bringing Elon Musk into the fold – and foreign goods, and his second term will likely see an unraveling of Biden’s investments in green energy, a rolling back on EV mandates and other policies aimed at cutting CO2 emissions alongside stricter tariffs on foreign-made vehicles, and a total abandonment of US involvement in the Paris Climate Accords. Of course, the news this morning hit hard for some automakers in Europe, adding to a mountain of problems amid low sales in key markets, both at home in Europe and in China.
But Zipse says BMW can likely breathe a sigh of relief since the company has even “more of an advantage” despite what will be higher tariffs due to having a huge footprint in the US, Reuters reported.
The remarks came this morning central Europe time after Trump proclaimed he had taken the win, with Zipse presenting BMW’s third-quarter results. “In this respect, we shouldn’t be too nervous about what might happen,” Zipse said.
BMW has the group’s largest factory in Spartanburg, South Carolina, in addition to 30 locations around the country in 12 states, the report said.
BMW’s third-quarter profit fell 61% to 1.7 billion euros ($1.82 billion) due to lagging sales in China, the US, and Europe, Reuters reported. Bloomberg also reported that “BMW AG’s main measure of profitability fell to the lowest in more than four years in the third quarter,” the fallout from the massive recall of 1.5 million vehicles due to a faulty braking system supplied by Contential and weak demand in the Chinese market. Still, despite these hardships, BMW has said that it increased its sales of fully electric vehicles by +19,1% in the first nine months of this year, with a total of 294,054 BEVs delivered. BMW added that sales of BEVs rose by +22.6% to 266,151 vehicles, with the Mini brand seeing its fully-electric vehicle sales grow by +54.3% in the third quarter.
We’ll likely hear some response from other automakers on Trump’s win soon. “We’re expecting that it will be difficult for car makers and exporters this morning,” Nicolas Forest, chief investment officer at Candriam, told Reuters. “Trump could implement tariffs through executive orders, so for German carmakers or French luxury groups, everything Europe exports, it’s a risk.”
The election news is extremely fresh, but Trump has suggested a 10% or more tariffs on goods imported into the US, while giving him the option to set higher tariffs on certain countries that have put tariffs on US imports. He has suggested imposing as high as 200% tariffs on some imported cars, and wants to keep cars from Mexico out of the country. China’s BYD, for one, has paused its plan to build a factory in Mexico, which would be a key production site for access into the US, until after the election. BMW plans to start building its next-gen BEVs dubbed the “Neue Klasse” in Mexico in 2027.
Trump of course has China in his crosshairs and plans to phase out Chinese imports during his second term, while also prohibiting Chinese companies from owning US real estate and infrastructure in the energy and tech sectors.
Photo: BMW
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Less than a week after Kia unveiled the EV4, we are already getting our first look at the sporty GT model. When it arrives, the GT variant is expected to be one of the most affordable electric sports cars and what could be Kia’s most powerful vehicle yet. But can it keep up with the Tesla Model 3 Performance?
The EV4 is Kia’s first electric sedan and hatchback. During its EV Day last week (see our recap), Kia showcased four EV4 models, two sedan and two hatchback trims.
Each had a standard and GT-Line model. Now, we are getting our first look at the high-performance GT version. Remember when the EV6 GT arrived in 2022 as “the most powerful Kia production vehicle ever?”
With 576 horsepower, the sporty EV6 GT can sprint from 0 to 60 mph in just 3.4 seconds. That’s faster than your average Ferrari or Lamborghini, and it’s about half the cost starting at just over $60,000.
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Well, the EV4 GT will likely be an even bigger hit with an expected lower price tag and what could be even more power.
After Kia’s electric sports car was spotted in public for the first time, we are learning a few upgrades you can expect to see. The video, courtesy of HealerTV, shows a camouflaged model testing in Korea. However, the orange light on the side of the bumper indicates it is actually an export model.
First look at the Kia EV4 GT electric sports car
At a quick glance, it looks just like the EV4 GT-Line. Looking closer, you can see Kia upgraded the EV4 with sporty wheels (what appears to be 20″), giving it a similar look to the K8.
The interior will feature Kia’s new ccNC (connected car Navigation Cockpit), which includes dual 12.3″ driver display and infotainment screens with wireless Apple CarPlay and Android Auto.
Kia EV4 spotted for the first time in Korea (Source: HealerTV)
You can expect to see the most significant differences in the interior and in performance. Like Kia’s other GT models, the EV4 is expected to feature a dual-motor AWD powertrain, but exact specs will be revealed closer to its official launch.
The upgraded EV6 GT, launched in Korea in November, now packs 641 horsepower and 561 lb-ft of torque (when Launch Control is active), thanks to improved front and rear electric motors.
It also gets redesigned front and rear bumpers, suede-trimmed sport bucket seats, and a heat pump (standard on all AWD trims).
Like Hyundai’s IONIQ 5 N, the new EV6 GT includes a Virtual Gear Shift (VGS) that simulates the sounds and feel of a sports car engine. We got a look at it in action in December after HealerTV got their hands on one to try it out.
Kia EV4 interior (Source: Kia)
We’ll have to wait for the official word on prices, but with the EV4 slotted below the EV6 in Kia’s lineup, the GT model will likely cost around $50,000 to $55,000. That’s much less than your average sports car. The standard EV4 is expected to hit the market later this year, starting at around $35,000 to $40,000.
In comparison, the Tesla Model 3 Performance AWD starts at $54,990 with 510 horsepower, good for a 0 to 60 mph sprint in 2.9 seconds.
Would you buy Kia’s electric sports car for around $50,000? Drop us a comment below and let us know what features and specs you’d be looking for. Check back soon for more. We’ll keep you updated with the latest.
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In another highly visible failure for hydrogen in the real-world, all 25 of the fuel cell-powered buses in the Poznan, Poland fleet failed at the same time yesterday morning, forcing the city to scramble diesel buses into action.
The City of Poznań, Poland deployed the first two of its hydrogen-powered Solaris in 2023. The deployment of these HFC buses was part of a larger, 25 unit order placed by the city back in in October 2022 — and, for a time, it seemed like the deployment was largely successful. That is, until all 25 buses broke down at once early Monday morning.
A spokesperson for MPK Poznań, the city’s bus operator, reportedly told Hydrogen Insight that the onboard computers on each bus signaled the failure at once, and that the issue was being investigated with help from Solaris, the bus manufacturer, and the hydrogen fuel supplier.
The company also told the the Sustainable Bus news site that, “the most likely cause of the malfunctions in several hydrogen buses in Poznań is poor fuel/hydrogen quality,” while another (?) spokesperson told local paper Wyboecza that the hydrogen purity must reach 99.97%. “This means that the hydrogen can only have 0.03% of other gases.”
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378 fuel cell buses were registered in the EU in 2024, up 82% YOY, with Solaris controlling 65% of the HFC bus market. For context, approximately 49% of all new city buses sold in the EU in 2024 were ZEVs. Given that the total number of city buses registered in the EU in 2024 was around 35,000, this translates to approx. 17,150 zero-emission city buses, which puts the score at 378 HFCEVs to 16,750 BEVs (give or take 378).
The solar industry is bracing for a turbulent year, and SolarReviews’ newly released 2025 Solar Industry Survey lays out exactly why. The survey, now in its third year, gathered insights from solar companies across the industry between December 2, 2024, and January 3, 2025, covering everything from the Inflation Reduction Act to workforce development and the state of the supply chain.
Ben Zientara, industry and policy analyst at SolarReviews, summed up the findings: “With pandemic-related supply chain issues largely in the rearview mirror, the industry is now overwhelmingly concerned about political uncertainty and the potential for new tariffs and changes to solar incentives.”
The biggest takeaway – the solar industry is on edge about what’s coming in 2025. More than half (56%) of companies flagged the possibility of new tariffs as a major concern, while 50% are worried about changes to solar incentives. Legislative and political uncertainty isn’t helping either, with 46% of respondents citing it as one of their biggest fears. Considering that Trump’s declaration of a national energy emergency excluded solar from its definition of energy resources, that’s unsurprising.
The outcome of the 2024 US elections has also influenced business confidence. A third (34%) of respondents said their outlook for 2025 became more negative due to election results, while nearly half (48%) reported no change. Only 18% said they felt more optimistic about their business prospects after the elections.
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Despite these worries, most solar companies remain resilient. Just 7% of respondents said they were concerned about staying in business over the next six months, while 38% expect to see their business grow this year.
One bright spot is the supply chain. Over the past two years, supply chain disruptions have steadily improved, with 43% of businesses reporting that conditions were better in 2024 compared to 2023. That’s a slight dip from the previous year when 69% of companies saw an improvement, but still a positive sign. Only 11% said supply chain issues worsened year-over-year.
Residential solar installers continue to evolve, expanding their services beyond solar panels. The vast majority (92%) of installers now offer energy storage installation, up from 74% last year. Similarly, 86% of companies are installing EV chargers, up from 64% in the previous year.
Installers named Qcells, REC, and Silfab as their go-to solar module brands, while Enphase, Tesla, and SolarEdge dominated the energy storage space.
However, one of the biggest challenges in 2024 was the wave of solar company closures. A staggering 81% of installers reported that at least one large competitor in their service area shut down. More than 57% said these closures led to negative outcomes, including an increase in service calls from customers left in the lurch by their former solar providers. To adapt, nearly a quarter of residential installers now offer third-party warranty coverage as a way to boost customer confidence and secure more sales.
Ultimately, US solar is still expected to continue its growth trajectory and maintain its top leadership among energy sources.
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