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Zero-emissions freight mobility solutions specialist Intramotev continues to expand the use of its technology to new customers in the US. Today, the company shared video footage of its TugVolt battery electric railcar retrofit deployed at a calcium mine in Michigan.

Intramotev is a St. Louis-based company founded in 2020 to develop autonomous, zero-emission rail solutions that decrease railway costs and promote environmental responsibility across a longstanding yet dated freight segment plagued by diesel pollution.

We have been covering the company since mid-2023, when it shared details of its unique mobility solutions that utilize software and battery-electric propulsion technology, including its flagship TugVolt railcar. TugVolt can be controlled from a smartphone and decouple from the consist (the group of railcars as a whole), and operate independently for first—and last-mile legs of trips on existing freight lines.

The company has also developed a ReVolt railcar that can be positioned to stay within the train’s consist and capture energy using regenerative braking to reduce diesel consumption from the line’s locomotive.

In the past year alone, Intramotev has continued to grow. In April 2024, we saw it deploy its ReVolt battery-electric retrofit railcar at Iron Senergy’s Cumberland Mine in Waynesburg, Pennsylvania – described by its makers as a “world’s first.” The company also secured $14.4 million in Series A funding in August.

During that announcement, Intramotev shared plans to deploy another electric railcar at a calcium mine owned by Carmeuse Americas later in 2024. That installation is now complete, and the company has shared video footage of the battery-electric railcar in action as it gears up to deploy more.

Electric railcar
Source: Intramotev/YouTube

According to a release from Intramotev, a battery-electric railcar powered by its TugVolt technology is now in operation at Carmeuse America’s calcium mine in Cedarville, Michigan, as promised last summer. Per the company, it is the world’s first independently driven battery-electric railcar in revenue service.

This initial rollout is the first of three planned TugVolt battery-electric railcars deployed in Cedarville, which is expected to eliminate up to 55,000 gallons of diesel consumption and 617 tons of CO2 emissions. The freight technology company’s CEO, Tim Luchini, spoke about its latest milestone:

As Intramotev continues to serve customers across the country, we’re excited to share a glimpse of our technology in action. Collaborating with a world-class partner like Carmeuse Americas brings us closer to achieving our mission of decarbonizing mining and steel transportation.

In addition to the announcement, Intramotev shared video footage of the electric railcar in action in Michigan, hauling and dumping calcium without any emissions. Carmeuse America’s senior vice president of operations, Jeff Bittner, spoke about the opportunities partnering with a company like Intramotev can offer:

We’re excited to partner with Intramotev to deploy their TugVolt technology. This partnership represents an incredible opportunity to increase our efficiency, decrease our carbon footprint, and keep our workers safe and focused on what they do best through adoption of emerging digital technologies. It’s a win-win for everyone involved.

Intramotev’s staff has expanded to 50 personnel as it continues to secure new customers and deploy more of its sustainable freight technology in the US. You can watch the TugVolt electric railcar doing its thing in Intramotev’s video below:

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Here’s what TSLA analysts are saying about Tesla’s big delivery miss

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Here's what TSLA analysts are saying about Tesla's big delivery miss

Most Wall Street analysts covering Tesla’s stock (TSLA) badly misread the automaker’s delivery volumes this quarter. Some of them have started releasing notes to clients following Tesla’s production and delivery results.

Here’s what they have to say:

According to Tesla-compiled analyst consensus, the automaker was expected to report “377,592 deliveries” in the first quarter.

Tesla confirmed yesterday that it delivered only 336,000 electric vehicles during the first three months of 2025.

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  • Cantor Fitzgerald was the first analyst firm to issue a note after the release. They reaffirmed their overweight rating with a $425 price target. As we previously reported, Cantor has some major conflicts of interest with Tesla and CEO Elon Musk.
  • Truist Securities maintained its hold rating on Tesla’s stock, but it greatly lowered its price target from $373 to $280 a share. They insist that while their earnings expectations have crashed because they overestimated deliveries, investors should focus on Tesla’s self-driving effort, which they see as “much more important for the long-term value of the stock.”
  • Goldman Sachs lowered its price target from $320 to $275 a share. The firm expected 375,000 deliveries from Tesla in Q1 and therefore had to adjust its earnings expectations with almost 40,000 fewer deliveries.
  • Wedbush‘s Dan Ives, one of Tesla’s biggest cheerleaders, called the delivery results “disastrous”, but he reiterated his $550 price target on Tesla’s stock.
  • UBS has reiterated its $225 price target which it had lowered last month after adjusting its delivery expectations in Q1 to 367,000 – one of the more accurate predictions on Wall Street.
  • CFRA‘s analyst Garrett Nelson reduced his price target from $385 to $360 a share.

Electrek’s Take

I find it funny that most of them are maintaining or barely changing their expectations after they were so wrong about Tesla in Q1.

If you were so wrong in Q1, you should expect to be incorrect also for the rest of the year, and readjust accordingly.

But Cantor is invested in Tesla, and the firm is owned by Elon’s friend, who happens to now be the secretary of commerce. Truist still believes Elon’s self-driving lies, Goldman Sachs overestimated Tesla’s deliveries by the equivalent of $2 billion in revenues, and Dan Ives is Dan Ives.

Covering Tesla over the last 15 years has confirmed to me that most Wall Street analysts have no idea what they are doing – or at least not when it comes to companies like Tesla.

Do you know any who have been consistently good lately? I’d love suggestions in the comment section below.

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Fintech stocks such as Affirm, PayPal plunge on concern Trump tariffs will hurt consumer spending

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Fintech stocks such as Affirm, PayPal plunge on concern Trump tariffs will hurt consumer spending

The global market rout on Thursday, sparked by President Donald Trump’s announcement of widespread tariffs, had an outsized effect on fintech companies and credit card issuers that are closely tied to consumer spending and credit.

Affirm, which offers buy now, pay later purchasing options, plunged 19%, while stock trading app Robinhood slid 10% and payments company PayPal fell 8%. American Express and Capital One each tumbled 10%, and Discover was down more than 8%.

President Trump on Wednesday laid out the U.S. “reciprocal tariff” rates that more than 180 countries and territories, including European Union members, will face under his sweeping new trade policy. Trump said his plan will set a 10% baseline tariff across the board, but that number is much higher for some countries.

The announcement sent stocks reeling, wiping out nearly $2 trillion in value from the S&P 500, and pushing the tech-heavy Nasdaq down 6%, its worst day since the start of the Covid-19 pandemic in 2020.

The sell-off was especially notable for companies most exposed to consumer spending and global supply chains, including payment providers and lenders. Fintech companies that rely on transaction volume or installment-based lending could see both revenue and credit performance deteriorate.

“When you go down the spectrum, that’s when you have more cyclical risk, more exposure to tariffs,” said Sanjay Sakhrani, an analyst at Keefe, Bruyette & Woods, citing PayPal and Affirm as businesses at risk. He said bigger companies in the space “are more defensive” and better positioned.

Visa, Mastercard and Fiserv held up better on Thursday.

Dan Dolev, an analyst at Mizuho, said bank processors such as Fiserv are less exposed to tariff volatility.

“It’s considered a safe haven,” he said.

Affirm executives have previously said rising prices might increase demand for their products. Chief Financial Officer Rob O’Hare said higher prices could push more consumers toward buy now, pay later services.

“If tariffs result in higher prices for consumers, we’re there to help,” O’Hare said at a Stocktwits fireside chat last month. Affirm CEO Max Levchin has offered similar comments.

However, James Friedman, an analyst at SIG, told CNBC that delinquencies become a concern. He compared Affirm to private-label store cards, and pointed to historical trends in credit performance during downturns, noting that “private label delinquency rates run roughly double” in a recession when compared to traditional credit cards.

“You have to look at who’s overexposed to discretionary,” he said.

Affirm did not provide a comment but pointed to recent remarks from its executives.

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Mazda’s $20,000 Chinese EV is about to launch overseas and a new SUV is up next

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Mazda's ,000 Chinese EV is about to launch overseas and a new SUV is up next

Wait, Mazda sells a real EV? It’s only in China for now, but that will change very soon. The first Mazda 6e built for overseas markets rolled off the assembly line Thursday. Mazda’s new EV will arrive in Europe, Southeast Asia, and other overseas markets later this year. This could be the start of something with a new SUV due out next.

Mazda’s new EV rolls off assembly for overseas markets

The Mazda EZ-6 has been on sale in China since October with prices starting as low as 139,800 yuan, or slightly under $20,000.

Earlier this year, Mazda introduced the 6e, the global version of its electric car sold in China. The stylish electric sedan is made by Changan Mazda, Mazda’s joint venture in China.

After the first Mazda 6e model rolled off the production line at the company’s Nanjing Plant, Mazda said it’s ready to “conquer the new era of electrification with China Smart Manufacturing.”

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The new global “6e” model will be built at Changan Mazda’s plant and exported to overseas markets including Europe, Thailand, and other parts of Southeast Asia.

Mazda calls it “both a Chinese car and a global car,” with Changan’s advanced EV tech and Mazda’s signature design.

Mazda-first-EV-overseas
Mazda 6e electric sedan during European debut (Source: Changan Mazda)

Built on Changan’s hybrid platform, the EZ-6 is offered in China with both electric (EV) and extended-range (EREV) powertrains. The EV version has a CLTC driving range of up to 600 km (372 miles) and can fast charge (30% to 80%) in about 15 minutes.

Mazda’s new EV will be available with two battery options in Europe: 68.8 kWh or 80 kWh. The larger (80 kWh) battery gets up to 552 km (343 miles) WLTP range, while the 68.8 kWh version is rated with up to 479 km (300 miles) range on the WLTP rating scale.

At 4,921 mm long, 1,890 mm wide, and 1,491 mm tall, the Mazda 6e is about the size of a Tesla Model 3 (4,720 mm long, 1,922 mm wide, and 1,441 mm tall).

Mazda said the successful rollout of the 6e kicks off “the official launch of Changan Mazda’s new energy vehicle export center” for global markets.

The company will launch a new SUV next year and plans to introduce a third and fourth new energy vehicle (NEV).

Although prices will be announced closer to launch, Mazda’s global EV will not arrive with the same $20,000 price tag in Europe as it will face tariffs as an export from China. Mazda is expected to launch the 6e later this year in Europe and Southeast Asia. Check back soon for more info.

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