Trump just canceled the federal NEVI EV charger program
Trump’s Federal Highway Administration (FHWA) has issued a memo ordering states to suspend all state EV infrastructure deployment plans under the National Electric Vehicle Infrastructure (NEVI) Formula Program.
Trump’s FHWA orders NEVI suspension
The $5 billion NEVI program is the big rollout of EV charging infrastructure across the US that was funded by the Biden administration’s Infrastructure Act, and it’s already well underway.
Under the NEVI program, states have to send their plans to the FHWA annually, detailing how they’ll use the funds. During the Biden administration, the FHWA signed off on the first four out of five fiscal years of plans through 2025. However, not all of it has been “obligated” to EV infrastructure projects.
Trump’s FHWA has told states in this memo that they can’t commit funds that were already approved to new EV charging infrastructure. However, money that was already committed is not affected.
The memo reads:
Therefore, effective immediately, no new obligations may occur under the NEVI Formula Program until the updated final NEVI Formula Program Guidance is issued and new State plans are submitted and approved. Instructions for the submission of new State plans for all fiscal years will be included in the updated final NEVI Formula Program Guidance. Since FHWA is suspending the existing State plans, States will be held harmless for not implementing their existing plans. Until new guidance is issued, reimbursement of existing obligations will be allowed in order to not disrupt current financial commitments.
Electrek’s Take
I asked Loren McDonald, chief analyst at Paren, what his thoughts were on this latest cancellation, and he, among others (myself included), doesn’t think the FHWA has the authority to stop the NEVI program with a memo – it would need a change in law from Congress – and then the courts will settle it. (Who else is beginning to see a Trump administration theme here?) McDonald said:
I don’t believe FHWA has the authority to pause or rescind any aspect of NEVI. The Trump administration is clearly trying to stop or pause programs like NEVI for as long as they can, but I assume lawsuits from states will start soon, and this will go to court and Congress … but the Trump admin will succeed in just causing havoc and slowing things down for a while. In the end, the Trump administration will likely fail, as only Congress can fundamentally revise and stop the NEVI program.
But, as with everything else rolled back the last few weeks, this will cause chaos and delays. This will cause serious damage to businesses nationwide – from EV charging companies (including Tesla, one of the largest NEVI recipients) to convenience stores and other host sites – and will waste money and cost people jobs.
It should also be noted that NEVI is the very reason that the NACS charging standard exists in the first place.
NEVI was limited only to chargers that could serve multiple makes of vehicles – a reasonable step, that government wouldn’t want to do a giveaway to a single, proprietary company. This is what caused Tesla to release NACS as a standard in the first place, so that its chargers could access NEVI money.
Then, when the entire industry switched over to the NACS standard, that signaled a potential long period of leadership in EV charging for Tesla. The company could have been the primary energy provider for EVs in North America for years or even decades to come as a result.
Now, an administration that Elon Musk is involved in is killing the very program that could have led to his company’s dominance in energy delivery – after also firing the entire team that was responsible for making the NACS standard in the first place.
What an awesome way to make America great again.
Read more: Q4 2024 update: 12,000 more US EV charging ports in 3 months
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Rondo Energy and energy producer EDP are installing a massive 100 MWh renewable-powered heat battery at HEINEKEN’s brewery in Lisbon, Portugal. The project will deliver round-the-clock renewable steam and reduce emissions without altering the facility’s beer brewing process.
Brewing HEINEKEN with zero-carbon steam
The Rondo Heat Battery (RHB) will be the biggest deployed in the beverage industry worldwide. It can store electricity as high-temperature heat using refractory bricks, then convert that heat into 24/7 steam, all without burning fossil fuels.
At HEINEKEN’s Central de Cervejas e Bebidas Brewery and Malting Plant, the heat battery system will supply 7 MW of steam, powered by renewable electricity from onsite solar and the grid. That steam is identical to steam created by gas-fired boilers, but without the carbon pollution.
EDP is providing the renewable electricity and will deliver the steam directly to HEINEKEN via a Heat-as-a-Service model. Rondo is supplying the battery, and HEINEKEN gets to ditch fossil fuels without retooling its brewing process.
Why this matters
This project is a big win for industrial decarbonization. High-temperature steam is one of the most complex parts of manufacturing to electrify, and the beer industry runs on it. HEINEKEN’s Lisbon site already uses solar panels for electricity and electric heat pumps for hot water, and this move helps it go even further.
It’s part of HEINEKEN’s “Brew a Better World” plan to hit net zero emissions by 2040 and decarbonize all of its global production sites by 2030.
Additionally, the deployment aligns with Portugal’s national target of reducing greenhouse gas emissions by 55% by 2030.
The bigger picture
With the European Investment Bank and Breakthrough Energy Catalyst backing this and other Rondo projects with €75 million in funding, this Lisbon installation is just the beginning. Rondo’s technology enables energy-hungry industries to switch from fossil fuels to renewable electricity without compromising 24/7 operations.
Rondo CEO Eric Trusiewicz sums it up: “We are thrilled to be installing our first Rondo Heat Battery in Iberia, and to support HEINEKEN to reach its goals. We look forward to helping industries across Iberia cut costs and carbon, and help Iberia capitalize on the opportunity.”
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Lucid Group (LCID) reported third-quarter earnings after the market closed on Wednesday, missing top and bottom-line estimates.
With 4,078 vehicles delivered in Q3, Lucid marked its seventh straight quarter with higher deliveries. Through the first nine months of 2025, Lucid delivered nearly 10,500 vehicles, more than the roughly 10,200 it handed over in 2024.
Although supply chain issues hampered production in the first half of the year, Lucid’s CEO Marc Winterhoff said the company made “significant progress ramping production of the Lucid Gravity through Q3,” including adding a second manufacturing shift at its Casa Grande, Arizona, plant.
Lucid produced 3,891 vehicles in Q3, missing estimates of around 5,600. With 9,966 EVs produced through the third quarter, Lucid will need to build over 8,000 more to meet its full-year production goal of 18,000 to 20,000.
According to estimates, Lucid is expected to report an adjusted quarterly loss of $2.27 per share on revenue of $352 million in Q3 2025.
Lucid Group Q3 2025 earnings breakdown
Lucid missed top and bottom-line estimates as it continues to address industry-wide supply chain issues that are hampering production of the Gravity SUV.
Although it missed estimates, Lucid reported Q3 revenue of $336.6 million, which is still up 68% from $200 million in the same period last year.
Lucid’s net loss narrowed to $978.4 million in the third quarter, or $3.31 per share, from $992.5 million, or $4.09 per share, in Q3 2024. On an adjusted basis, Lucid posted a loss of $2.65 per share.
In addition, Lucid said it agreed with Saudi Arabia’s Public Investment Fund (PIF) to increase the delayed draw term loan credit facility (DDTL) from $750 million to around $2 billion.
Given the increase, Lucid said total liquidity would have been around $5.5 billion at the end of Q3, up from the $4.2 billion it reported. Lucid ended the third quarter with $1.6 billion in cash and equivalents.
Lucid said liquidity is enough to fund it through the first half of 2027, up from the second half of 2026, as previously forecast. Lucid plans to launch production of its more affordable midsize platform in late 2026 with vehicles starting at around $50,000.
Lucid confirmed it was still on track to start production of the midsize platform later next year. However, given the supply chain issues, it now expects to hit the lower end of its production goal at around 18,000.
Winterhoff said the company “remains intensely focused on ramping up production and addressing the significant supply chain disruptions impacting the entire industry.”
Lucid is advancing other emerging tech, including autonomy and intelligent mobility. Through a new partnership with NVIDIA, Lucid aims to be among the first to offer Level 4 autonomous driving.
The third-quarter earnings miss comes after Rivian (RIVN) beat expectations this week, reporting higher revenue and improving gross margins.
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Robinhood beat Wall Street expectations for the third quarter on Wednesday, extending a hot streak that has made it one of the biggest large-cap U.S. tech stocks this year.
Here is how Robinhood’s results compared to Wall Street estimates, according to analysts surveyed by LSEG:
- Earnings per share: 61cents vs. 53 cents expected
- Revenue: $1.27 billion vs. $1.19 billion expected
Revenue doubled year-over-year, while net income climbed to $556 million, or 61 cents per share, up significantly from the same quarter last year, when the company posted net income of $150 million, or 17 cents per share.
Transaction-based revenue, which is a proxy for trading activity, came in at $730 million, below StreetAccount’s $739 million estimate.
“Q3 was another strong quarter of profitable growth, and we continued to diversify our business, adding two more business lines — Prediction Markets and Bitstamp — that are generating approximately $100 million or more in annualized revenues,” finance chief Jason Warnick said in the release.
Robinhood is closing the gap with Coinbase as it pushes beyond retail trading into full-scale wealth management. The company has been aggressively offering deposit matches to lure clients from Fidelity and Schwab, and assets under management have grown with its TradePMR acquisition.
Robinhood year-to-date stock chart.
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