Connect with us

Published

on

Swedish multinational Sandvik says it’s successfully deployed a pair of fully autonomous Toro LH518iB battery-electric underground loaders at the New Gold Inc. ($NGD) New Afton mine in British Columbia, Canada.

The heavy mining equipment experts at Sandvik say that the revolutionary new 18 ton loaders have been in service since mid-November, working in a designated test area of the mine’s “Lift 1” footwall. The mine’s operators are preparing to move the automated machines to the mine’s “C-Zone” any time now, putting them into regular service by the first of the new year.

“This is a significant milestone for Canadian mining, as these are North America’s first fully automated battery-electric loaders,” Sandvik said in a LinkedIn post. “(The Toro LH518iB’s) introduction highlights the potential of automation and electrification in mining.”

The company says the addition of the new heavy loaders will enable New Afton’s operations to “enhance cycle times and reduce heat, noise and greenhouse gas emissions” at the block cave mine – the only such operation (currently) in Canada.

Electrek’s Take

Epiroc announces new approach to underground mining market in North America
Battery-powered Scooptram; image by Epiroc

From drilling and rigging to heavy haul solutions, companies like Sandvik are proving that electric equipment is more than up to the task of moving dirt and pulling stuff out of the ground. At the same time, rising demand for nickel, lithium, and phosphates combined with the natural benefits of electrification are driving the adoption of electric mining machines while a persistent operator shortage is boosting demand for autonomous tech in those machines.

The combined factors listed above are rapidly accelerating the rate at which machines that are already in service are becoming obsolete – and, while some companies are exploring the cost/benefit of converting existing vehicles to electric or, in some cases, hydrogen, the general consensus seems to be that more companies will be be buying more new equipment more often in the years ahead.

What’s more, more of that equipment will be more and more likely to be autonomous as time goes on.

We covered the market outlook for autonomous and electric mining equipment earlier this summer, and I posted an episode exploring the growing demand for electric equipment on an episode of Quick Charge I’ve embedded, below. Check it out, then let us know what you think of the future of electric mining in the comments.

More EVs means more mines, equipment

SOURCE | IMAGES: Sandvik, via LinkedIn.

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

Continue Reading

Environment

CNBC Daily Open: Tesla wobbles as BYD gets ahead in self-driving and Elon Musk is everywhere

Published

on

By

CNBC Daily Open: Tesla wobbles as BYD gets ahead in self-driving and Elon Musk is everywhere

Tesla and SpaceX CEO Elon Musk and U.S. President Donald Trump appear during an executive order signing in the Oval Office at the White House on Feb. 11, 2025 in Washington, DC.

Andrew Harnik | Getty Images News | Getty Images

Elon Musk is the world’s richest person, and the leader of Tesla, SpaceX, X, the Boring Company, xAI, Neuralink, the U.S. Department of Government Efficiency as well as a recent group of investors bidding to buy OpenAI.

From a business point of view, Musk’s accomplishments are undeniable. The companies he heads are not only market leaders, but often trailblazers in their field — consider how Tesla kickstarted the electric-vehicle industry or how SpaceX successfully commercialized space flight.

Paradoxically, achieving success too broadly can have negative effects. Investors seem to be growing worried that Musk, for all his business acumen, is getting distracted. Tesla shares have fallen for the past five trading days, plunging over 6% on Tuesday as Chinese rival BYD appears to be eclipsing the company on AI-enabled autonomous driving.

If hands-free driving becomes a reality atTesla, that could free up Musk to have his fingers in other pies without dragging down the company’s shares.

What you need to know today

BYD threatens Tesla
Tesla shares fell 6.3% Tuesday after Chinese EV maker BYD said it will integrate DeepSeek into its autonomous driving technology and offer it in nearly all its vehicles. There are also concerns over Musk’s distractions, such as his bid for Open AI and his role at the “Department of Government Efficiency” in the White House. Tesla’s stock price has fallen over 16% in the past five trading days.

Tentative U.S. markets
U.S. markets were mixed Tuesday as investors digested U.S. Federal Reserve Chair Jerome Powell’s comments in the Senate that the central bank doesn’t need to “be in a hurry” to adjust its policy stance. The S&P 500 was mostly flat, the Dow Jones Industrial Average climbed 0.28% and the Nasdaq Composite retreated 0.36%. Asia-Pacific stocks traded higher Wednesday. The Hang Seng Index rose around 1.9% as Hong Kong-listed shares of Alibaba popped 7.15% on reports it is partnering Apple to roll out iPhone AI features in China.

Baidu to release next-generation AI model
Chinese tech giant Baidu plans to release its next-generation AI model in the latter half of the year, according to a source familiar with the matter. Named Ernie 5.0, the model is set to have “big enhancements in multimodal capabilities,” the source said. Multimodal AI models can work across media formats. Baidu’s release comes amid AI advancements in China, such as the cost-effective DeepSeek released in January.

Super Micro Computer reassures investors
Super Micro Computer CEO Charles Liang said on Tuesday he is “confident” that the company will file its delayed annual report by the U.S. Securities and Exchange Commission’s Feb. 25 deadline. The company also said it expects to hit $40 billion in revenue in fiscal 2026, higher than the $30 billion expected by analysts polled by LSEG. Shares of the company jumped as much as 8.4% in extended trading.

CATL files for listing in Hong Kong
China’s Contemporary Amperex Technology, also known as CATL, has filed for listing on Hong Kong’s stock exchange. The initial public offering is expected to raise at least $5 billion, Reuters reported, which would make it the city’s largest IPO in five years. The company supplies batteries to automakers like Tesla. In January, the U.S. Department of Defense included CATL and Tencent on its list of “Chinese Military Companies.”

[PRO] How to play the CPI
The U.S. consumer price index report will be released Wednesday and comes at a time when inflation concerns have resurged because of tariffs and higher-than-expected wage growth in January. JPMorgan traders laid out how the S&P 500 could react based on the CPI reading. The scenarios range from a 1.75% increase to a 2% fall, including an asset class that could “react violently.”

And finally…

The dock at the Port of Sikka in Jamnagar, Gujarat, India, on Saturday, July 31, 2021.

Dhiraj Singh | Bloomberg | Getty Images

India’s oil minister says ‘we play by the rules,’ as markets weigh U.S. energy sanctions

India will “play by the rules” and not “go around” international sanctions regarding oil markets, the country’s Minister of Petroleum and Natural Gas Hardeep Singh Puri told CNBC on Tuesday at the sidelines of the India Energy Week conference. India’s refiners have been snapping up discounted Russian oil since Western and G7 energy sanctions barred many consumers from Moscow’s supplies. New Delhi has repeatedly defended its purchases as a matter of national interest.

Puri also signaled that the government of Trump’s predecessor, President Joe Biden, had endorsed India’s bolstered intake of Russian oil. “I’ve had a chat with the Americans, the previous administration. They said, please buy as much as you like. Just make sure that you buy it within the price cap. And that’s what we did,” Puri said.

Continue Reading

Environment

Global EV sales surge 18% y-o-y – but speed bumps lie ahead

Published

on

By

Global EV sales surge 18% y-o-y – but speed bumps lie ahead

London-based Rho Motion just dropped the latest numbers on global EV sales for January 2025, and here’s the headline: 1.3 million electric vehicles were sold worldwide. That’s down by more than a third from December’s record-breaking numbers, but don’t let that fool you – January 2025 still saw an 18% jump compared to the same month last year.

The global picture

Global EV sales are off to a solid, if not spectacular, start in January 2025. While China’s numbers took a predictable dip post-holiday rush, Europe is picking up steam, and North America is seeing steady growth. Here’s how the major markets shook out in January:

  • Global: 1.3 million EVs sold (+18% year-over-year, -35% from December 2024)
  • China: 0.7 million (+12% y-o-y, -43% m-o-m)
  • EU, EFTA & UK: 0.25 million (+21% y-o-y, -19% m-o-m)
  • US & Canada: 0.13 million (+22% y-o-y, -28% m-o-m)
  • Rest of the world: 0.13 million (+50% y-o-y, -4% m-o-m)

Rho Motion data manager Charles Lester weighed in on what’s behind these numbers:

With emission standards coming into force for European manufacturers this year, all eyes are on the opening month for the region, which shows encouraging growth at 21% compared to the same time last year.

The Chinese market, as expected, shrunk 43% from the previous month as drivers tend to go all in at the end of the year before the Chinese New Year public holidays fall in January and February.

The US and Canada market hasn’t yet been impacted by the new occupant of the White House and is showing a consistent year-on-year increase of 22%. All in all, an uncontroversial start to the year for the EV market globally, though this is not going to remain that way for long.

Europe: A strong start, but challenges ahead

The EU, EFTA, and the UK kicked off the year with a solid 21% increase, selling over 250,000 EVs in January. That’s the kind of momentum European automakers need to keep up to avoid hefty fines under the 2025 emission standards.

Germany led the charge, with EV sales jumping over 40% year-over-year, and BEVs specifically saw over 50% growth. But not every country had a smooth start. France, for example, took a big hit, with sales dropping 52% compared to December and 15% year-over-year. The reason was a new weight tax on plug-in hybrids (PHEVs) that went into effect in January, triggering a rush to buy in December before the new rules kicked in.

China: A predictable dip, but still growing

China’s EV sales were up 12% compared to last January, thanks in part to the ongoing national car trade-in scheme. However, sales dropped 43% compared to December, which is typical for this time of year. The Chinese New Year holiday always slows down vehicle sales in January and February, and with the holiday falling mostly in February this year (just like in 2024), expect another weak month before numbers pick up again.

US & Canada: A steady climb with uncertainty ahead

North America saw a solid 22% jump in EV sales compared to January 2024, with 130,000 units sold. However, that’s still a 28% drop from the December 2024 rush.

Despite concerns over Trump’s return to the White House, the federal EV tax credit – up to $7,500 – is still available for many BEVs and one PHEV. However, the requirements got tougher in 2025, with stricter sourcing rules for critical EV battery materials. Some EV models lost their eligibility, and that’s expected to put some pressure on the market as the year unfolds.

Read more: BYD’s overseas sales surged to a new record as its global EV plans kick into high gear


To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to 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. They have 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 you share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

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

Continue Reading

Environment

CNBC Daily Open: Worries over BYD and Elon Musk send Tesla shares down

Published

on

By

CNBC Daily Open: Worries over BYD and Elon Musk send Tesla shares down

Tesla and SpaceX CEO Elon Musk delivers remarks alongside U.S. President Donald Trump during an executive order signing in the Oval Office at the White House on Feb. 11, 2025 in Washington, DC.

Andrew Harnik | Getty Images News | Getty Images

Elon Musk is the world’s richest person, and the leader of Tesla, SpaceX, X, the Boring Company, xAI, Neuralink, the U.S. Department of Government Efficiency as well as a recent group of investors bidding to buy OpenAI.

From a business point of view, Musk’s accomplishments are undeniable. The companies he heads are not only market leaders, but often trailblazers in their field — consider how Tesla kickstarted the electric-vehicle industry or how SpaceX successfully commercialized space flight.

Paradoxically, achieving success too broadly can have deleterious effects. Investors seem to be growing worried that Musk, for all his business acumen, is getting distracted, with his fingers in too many pies. Tesla shares have fallen for the past five trading days, plunging over 6% on Tuesday as Chinese rival BYD appears to be eclipsing the company on AI-enabled autonomous driving.

What you need to know today

And finally…

The dock at the Port of Sikka in Jamnagar, Gujarat, India, on Saturday, July 31, 2021.

Dhiraj Singh | Bloomberg | Getty Images

The dock at the Port of Sikka in Jamnagar, Gujarat, India, on Saturday, July 31, 2021.

Dhiraj Singh | Bloomberg | Getty Images

India’s oil minister says ‘we play by the rules,’ as markets weigh U.S. energy sanctions

India will “play by the rules” and not “go around” international sanctions regarding oil markets, the country’s Minister of Petroleum and Natural Gas Hardeep Singh Puri told CNBC on Tuesday at the sidelines of the India Energy Week conference. India’s refiners have been snapping up discounted Russian oil since Western and G7 energy sanctions barred many consumers from Moscow’s supplies. New Delhi has repeatedly defended its purchases as a matter of national interest.

Puri also signaled that the government of Trump’s predecessor, President Joe Biden, had endorsed India’s bolstered intake of Russian oil. “I’ve had a chat with the Americans, the previous administration. They said, please buy as much as you like. Just make sure that you buy it within the price cap. And that’s what we did,” Puri said.

Continue Reading

Trending