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Volvo has delivered the first of its L20 Electric wheel loaders to New Zealand, with a leading landscape manufacturer putting it through its paces in an early pilot program. The verdict: Volvo’s new electric loader is exceeding expectations!

Landscape manufacturing firm Intelligro – located near Christchurch, New Zealand – makes and sells a variety of landscaping, gardening, and civil engineering supplies. Part of that business involves growing massive amounts of mulches, sands, and soil mixes for both residential and commercial customers across the South Island. The group pride itself on delivering top quality products and excellent service for their customers. And it’s no stranger to heavy equipment, either, operating sixteen loaders at its primary job site.

When it was time to retire one of their conventional diesel loaders recently, the company decided to “take the plunge” on a new Volvo L20 Electric. The results have taken them by surprise.

“At first, I was a little bit skeptical,” explains Andrew ‘AJ’ Mahuika, Retail Crew Supervisor at Intelligro. “I thought that being electric it wouldn’t have the same power or capabilities as our traditional wheel loaders. However, it’s proven to be exactly the same and it’s probably one of the most comfortable loaders I’ve driven. I think it exceeded everyone’s expectations in terms of its functionality. It’s very much been business as usual.”

Intelligro has been using its new Volvo L20 Electric in its retail yard to load soft materials for its landscape commercial trade customers. The company says its quiet, precise operation has improved the experience for its customers, as well as the machine’s operators.

“It doesn’t drive any different to any of the other loaders we use,” continues AJ, who also about remarked reduced vibration. “Being electric, it is noticeably a lot quieter. It basically produces zero noise.”

The company gets about 6 hours of continuous operation from the L20 Electric. More than enough, in other words, to put in a full day of work. “Unlike diesel machines, electric machines have zero idling time,” explains Volvo. “(That) means if you stop working, the machine stops working too, saving valuable battery life.”

Volvo L20 Electric wheel loader

“The trial of the Volvo L20 Electric wheel loader at Intelligro is important to show the significant role our electric machines can play in the landscaping sector,” explains Bertrand Collette, Head of Market Area Oceania at Volvo CE. “(That’s) an industry that is all about creating and enhancing beautiful environments from the ground up … we hope that, by sharing Intelligro’s experience, we can inspire others to see how electric solutions might fit in their organizations and help them achieve their sustainability goals.”

The Volvo L20 Electric was supplied to Itellegro by their local dealer, TDX, who has provided initial training sessions and ongoing support to the operators.

SOURCE | IMAGES: Volvo.

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

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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


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

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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.

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Kia’s electric sports car, the EV6 GT, is a steal at nearly $20,000 off

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Kia's electric sports car, the EV6 GT, is a steal at nearly ,000 off

Kia’s electric sports car will smoke a Ferrari and Lamborghini off the line, and it’s already less than half the cost. Now, Kia’s 576 horsepower EV6 GT is even cheaper to drive with nearly $20,000 in lease savings. Here’s how you can get your hands on one.

The EV6 GT arrived in 2022 as the “most powerful Kia production vehicle ever.” With up to 576 horsepower, Kia’s electric sports car can sprint from 0 to 60 mph in just 3.4 seconds.

Kia went all out, adding fun features and different drive modes, such as “GT” and “drift.” The GT drive mode adjusts the vehicle’s motor, brakes, steering, suspension, and more for better performance.

To prove its power, Kia put its EV sports car up against a Ferrari Roma and Lamborghini Huracan EVO Spyder. Certified by an independent test from AMCI, the Kia EV6 GT beat both off the line. Not only is the Kia faster, but it’s also about half the cost.

The 2024 Kia EV6 GT starts at $61,600. A 2024 Ferrari Roma will run you about $245,000, while a new 2024 Lamborghini Huracan EVO Spyder starts at just over $300,000.

Kia-EV6-GT-lease
2024 Kia EV6 GT (Source: Kia)

According to online car research firm CarsDirect, the 2024 Kia EV6 GT now features $19,050 in lease cash (24-month lease). With the option of Single Pay leases, you can also score lower lease rates.

If you’re looking for something with a little less performance (and a lower price), Kia is offering $10,000 in Customer Cash on all 2024 EV6 models. The EV6 Light Long Range RWD ($45,950 MSRP) is listed for lease at just $179 for 24 months, with $3,499 due upfront.

The discounts come with the new 2025 model year arriving, which has an even longer driving range (319 miles Kia-est) and an NACS port for charging at Tesla Superchargers. The new EV6 GT trim will also pull additional features from Hyundai’s IONIQ 5 N, including a Virtual Gear Shift (VGS) function.

Want to get behind the wheel of Kia’s electric sports car and test it out for yourself? You can use our link to find the best deals on the 2024 Kia EV6 (including the GT model) near you.

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