Connect with us

Published

on

GM is retiring another gas-powered car at its Kansas plant to clear room for the next-gen Chevy Bolt EV. The facility will soon house a new “family of Bolt models” as GM brings back the popular, low-cost EV.

GM is retiring the gas-powered Cadillac XT4

GM announced it will retire the gas-powered Cadillac XT4 SUV in January as it prepares to reintroduce the Bolt.

The XT4 is Cadillac’s cheapest SUV, starting at $41,990. However, sales are down 12% through the first nine months of 2024 after slipping 28% in Q4 2023.

GM already announced plans in May to retire the Chevy Malibu to make room at its Kansas plant for next-gen EVs, including the Bolt. The Malibu will be phased out this month after over 10 million models have been sold since 1964.

Although GM said XT4 production would begin again on the same line as the Bolt EV, a new Reuters report suggests that no longer appears to be the case.

The report claims GM will now only build Bolt models on the assembly line. Production of the previous Bolt ended at the end of 2023.

GM-retiring-gas-car
Chevy Bolt EV (Source: GM)

Since then, we’ve learned there will actually be several Bolt EV models. GM’s president, Mark Reuss, confirmed that the new model would be a part of “a family of Bolts,” including an even lower-priced model.

Reuss said prices will initially start slightly higher than the $28,785 MSRP on the previous model, but it will be an upgrade with faster charging.

GM-retiring-gas-car
Chevy Bolt EUV (Source: Chevrolet)

GM CEO Mary Barra claims the new Bolt will offer “an even better driving, charging, and ownership experience” with new tech. It will also be the first EV in the US to feature LFP batteries.

The company is expected to begin building next-gen Chevy Bolt EV models in late 2025 as a 2026 model year.

GM is investing $390 million in its Fairfax, Kansas plant to prepare it for re-introducing the next-gen Chevy Bolt EV.

Electrek’s Take

GM reached a milestone last month, selling its 300,000th EV in the US since 2016. The Chevy Bolt EV accounted for the great majority of those sales.

Chevy Bolt EV sales totaled 62,045 in 2023, 38,120 in 2022, 24,828 in 2021, 20,745, 16,418 in 2019, 18,019 in 2018, and 23,300 in 2017. In addition, another 8,582 have been sold in 2024. So, of the 300,000, over 212,000 of them were Bolt EVs.

The company is coming off a record 32,095 electric vehicles sold in the third quarter as its other Ultium-based EVs, including the new Chevy Blazer, Equinox, and Silverado EVs, are rolling out to dealers nationwide.

GM continues introducing lower-priced models, like the 2025 Equinox EV LT. Starting at $35,000, the company claims it’s the “most affordable EV in the US with +315 miles range.”

With the next-gen Chevy Bolt expected to be even more affordable, the new model could be GM’s biggest yet.

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

Continue Reading

Environment

Isuzu’s first electric pickup is here and it’s a beast: Meet the new D-MAX EV

Published

on

By

Isuzu's first electric pickup is here and it's a beast: Meet the new D-MAX EV

A fully electric Isuzu pickup truck? That’s right. The D-MAX EV is Isuzu’s first electric pickup, and it will be rolling in the next few months. After kicking off mass production, Isuzu said the new EV pickup will “match the performance of existing diesel models,” boasting high towing capacity and payload.

Isuzu’s first electric pickup is launching in 2025

Isuzu announced on Tuesday that the D-MAX EV has officially entered mass production. The company has started building left-hand drive models, which will be shipped to Europe in the third quarter of 2025.

By the end of the year, production of right-hand drive models will begin for the UK, with sales expected to start in 2026.

The electric pickup is nearly identical to Isuzu’s popular gas-powered D-MAX, but swaps the diesel powertrain for a pair of electric motors. The D-MAX EV features new e-Axles, one on the front and the other at the rear, for a full-time 4WD system.

Advertisement – scroll for more content

The dual-motor powertrain enables it to match the performance of existing diesel models, with a combined 188 hp (140 kW) and a maximum torque of 240 lb-ft (325 Nm).

It can also tow over 7,700 lbs (3,500 kg) with a maximum payload of over 2,200 lbs (1,010 kg). That’s about the same as the D-MAX diesel, which has a 3,500 kg towing capacity and a payload capacity of up to 1,200 kg.

Powered by a 66.9 kWh battery, Isuzu’s first electric pickup boasts a driving range of up to 263 km (162 miles) on the WLTP. In the city, it can have a driving range of up to 224 miles (361 km).

Isuzu D-Max EV specs
Drive System Full-time 4×4
Battery Type Lithium-ion
Battery Capacity 66.9 kWh
Max Output 130 kW (174 hp)
Max Torque 325 Nm
Max Speed Over 130 km/h (+80 mph)
Max Payload 1,000 kg (+2,200 lbs)
Max Towing Capacity 3.5t (+7,700 lbs)
Isuzu D-Max EV electric pickup specs

Built for on and off-road performance, the rugged electric pickup features over 8″ (210 mm) of ground clearance with a wading depth of nearly 24″ (600 mm).

Although prices have not been announced, the D-MAX EV is expected to start slightly higher than the diesel model, which has a base price of around € 36,500 ($41,600).

Isuzu’s popular D-MAX is sold in over 100 countries, including Europe, Asia, the Middle East, and Central and South America. The electric version will arrive in Europe in the next few months, followed by the UK and other regions in 2026.

The electric D-MAX will compete with the Toyota Hilux, Ford Ranger, and other electric pickups, such as Geely’s Radar R6, BYD’s Shark, and Ford’s F-150 Lightning.

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

Continue Reading

Environment

Tesla insider buys stock for the first time in years and it’s hilarious

Published

on

By

Tesla insider buys stock for the first time in years and it's hilarious

For the first time in five years, a Tesla insider required to report Tesla stock transactions bought stocks rather than selling them.

But the transaction is so small that it makes the whole situation hilarious.

Insiders in public companies are top executives and board members who are required to report to the SEC any transaction related to the company’s stock.

For Tesla, it has become a running joke that insiders only sell, never buy the stock.

Advertisement – scroll for more content

This has been true without exception for years.

We don’t know as much about executives as Tesla has a very short top executive bench who are required to file transactions. However, when it comes to its board members, they have been selling at an impressive rate.

We recently reported on Kimball Musk, Elon’s brother, and Tesla’s Chief Financial Officer Taneja Vaibhav recently selling ahead of a recent drop in the company’s stock price.

Tesla’s chairwoman, Robyn Denholm, also sold $33 million worth of Tesla shares in February and over $100 million in the 3 months prior.

However, we now have confirmation that a Tesla board member is buying, rather than selling.

Joe Gebbia, the Airbnb co-founder who joined Tesla’s board in 2022, confirmed that he bought 4,000 shares in Tesla last week worth about $1 million:

Electrek’s Take

Gebbia is estimated to be worth over $7 billion. Therefore, his purchase of $1 million worth of Tesla stock would be equivalent to my buying a fractional share in Tesla.

Furthermore, the disclosure confirmed that despite being on the board for the last 3 years, Gebbia owned only 111 shares in Tesla before the transaction.

That’s quite the show of confidence in Tesla.

Thie whole situation with the board is disappointing. Tesla’s core business is melting. The company reported its worst quarter in years last week, and the stock surged 20%.

None of it makes any sense.

The board is sitting on its hands while the most powerful force accelerating the advent of electric transport is being destroyed in favor of nonsensical predictions about the potential of solving self-driving and humanoid robots.

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

Continue Reading

Environment

Venmo revenue grows 20%, with debit card payment volume soaring

Published

on

By

Venmo revenue grows 20%, with debit card payment volume soaring

Justin Sullivan | Getty Images

Venmo, long a centerpiece of PayPal‘s growth story but often criticized for its lack of monetization, is becoming a bigger contributor to the business.

PayPal said Tuesday in its first-quarter earnings release that revenue at Venmo increased 20% year-over-year in the first quarter, though the company didn’t provide a dollar figure. PayPal acquired Venmo in 2013 through the acquisition of parent company Braintree.

While it’s long been a popular consumer service for sending money to friends, Venmo’s ability to drive meaningful revenue has been a major question mark for investors, especially as competition from rivals like Zelle and Square Cash has intensified.

Venmo’s total payment volume rose 10% from a year earlier, but revenue grew twice as fast, reflecting the business opportunity. Venmo only gets revenue from specific products like Pay with Venmo at online checkout, Venmo debit cards, and instant transfers, but not from peer-to-peer payments.

Read more about tech and crypto from CNBC Pro

Ahead of the earnings report, Jefferies analysts noted that Venmo revenue growth appeared to be “accelerating sharply” and flagged its rising contribution to branded checkout as a key area to watch. Compass Point analysts similarly said that while competition from Zelle and Square Cash remains fierce, Venmo’s traction with debit cards and online checkout could “open up new monetization avenues” if adoption trends continue.

The company added nearly 2 million first-time PayPal and Venmo debit card users during the quarter, and total debit card payment volume across PayPal and Venmo climbed more than 60%. Meanwhile, Pay with Venmo transaction volume surged 50% year over year, and Venmo debit card monthly active users grew about 40%.

PayPal reported better-than-expected earnings for the quarter but missed on revenue. The company reaffirmed its full-year guidance, citing macroeconomic uncertainty.

WATCH: PayPal CEO Alex Chriss: Huge opportunity to deliver to consumers and help small business

PayPal CEO Alex Chriss: Huge opportunity to deliver to consumers and help small business

Continue Reading

Trending