BMW’s new iX3 will ignite an ‘unprecedented’ EV ramp-up starting this year
BMW is gearing up to launch its first Neue Klasse model later this year, promising 30% faster charging and at least 30% more range. Starting with the new iX3, BMW says an “unprecedented ramp-up” is coming as it prepares to unleash over 40 new and updated models by 2027.
BMW’s new iX3 will arrive by the end of 2025
Although BMW Group deliveries fell 4% last year with 2.45 million vehicles delivered globally, the German automaker is betting heavily on its next-generation EVs to help turn things around.
“With the Neue Klasse, we are implementing the biggest future-focused project in the history of our company,” CEO, Oliver Zipse, said on Friday.
BMW confirmed the first Neue Klasse model, the iX3 will debut later this year. It will kick off “an unprecedented ramp-up” of over 40 new and updated vehicles set to arrive by 2027.
All will be based on a new “Digital Nervous System” and “Heart of Joy” advanced ECU which will deliver drastic improvements in range, charging speeds, efficiency and more.
The digital nervous system is a new zonal architecture consisting of four “super-brains,” or high-performance computers, that power everything from the infotainment system to the driving dynamics and self-driving capabilities.
BMW claims the new system provides over 20 times more in-car computing power than its current vehicles. The new ECU, Heart of Joy, integrates the drivetrain and driving dynamics, increasing overall efficiency by up to 25%.
Combined with its sixth-gen eDrive technology, BMW said the advanced new tech reduces energy loss by 40% and weight by 10%.
BMW said that using cylindrical battery cells and an 800V system will deliver “20% higher energy density, 30% faster charging and at least 30% more range.” The company also aims to reduce battery pack costs by 40% to 50%.
Following the new iX3, BMW will launch the next-gen i3, an electric sedan that’s expected to compete with the new Mercedes CLA EV and Tesla Model 3.
Despite global sales slipping, BMW’s EVs remained the main growth driver. With an all-electric vehicle in every segment, BMW sold over 426,500 EVs last year, representing over 17% of total sales. In Europe, EV share is now over 20%. At MINI, roughly one in four vehicles is electric, while at Rolls-Royce, it’s one in three.
With its Neue Klasse vehicles rolling out, starting with the new iX3, BMW expects EVs to account for over 50% of global sales by 2030.
Ahead of its official debut, BMW gave us a closer look at the highly anticipated iX3 and i3 during the final stages of testing (see the teaser).
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In this photo illustration, the logo for the US tech firm “Block” is displayed and reflected in a number of digital screens on March 03, 2023 in London, England.
Leon Neal | Getty Images
With its stock down more than 30% this year and revenue growth slowing, Jack Dorsey’s Block is going bigger in lending.
The company on Thursday said it secured approval from the Federal Deposit Insurance Corporation to originate loans through its banking subsidiary, Square Financial Services, allowing it to offer small-dollar consumer loans directly rather than relying on external banking partners.
It’s an expansion of Cash App Borrow, the company’s short-term lending product. But it comes at a time of increased concerns surrounding consumer credit, with President Trump’s expansive tariffs and widespread government job cuts raising talk of a potential recession.
Transaction losses in Block’s lending segment jumped 39% last quarter, and while the company claims its underwriting model is strong, small-dollar lending is inherently risky.
“Cash App Borrow is designed to provide short-term cash flow in a simple and accessible way when alternatives are notoriously expensive and difficult for consumers to navigate,” Block said in the press release. The company added that the average Cash App Borrow loan was under $100 and about a month in duration.
Block didn’t immediately provide a comment.
In getting approval to operate the lending business out of its own bank, Block says it will be able to offer the product nationwide.
Last month, Block reported quarterly results that missed Wall Street expectations, with revenue growing just 4.5% from a year earlier. The stock plunged 18%, its worst one-day drop since 2020.
Around the same time, Block rolled out Afterpay, its buy now, pay later product, on the Cash App card. Chief Financial Officer Amrita Ahuja told CNBC that the launch aimed to provide customers with more credit options, and positioned Cash App as a banking alternative for some customers. Block acquired Afterpay, which competes with Affirm, for $29 billion in early 2022.
Also this week, Block announced a big investment plan in artificial intelligence.
The company said on Wednesday that it will deploy Nvidia’s AI systems with its latest Blackwell chips to power open-source AI research. Block didn’t say what specifically it’s looking to achieve through its AI buildout, but noted in the press release that it will “start exploring novel solutions for our customers.”
![Kia's first electric van looks even better in person [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/03/Kias-first-electric-van-PV5-1.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Kia is launching its first electric van, the PV5, later this year. If you liked how it looked in pictures, wait until you see it in real life. A production PV5 was spotted in Korea for the first time, giving us a closer look at the futuristic van. See it for yourself in the video below.
Kia’s first electric van spotted in Korea
After teasing it for what seemed like forever, Kia finally took the sheets off the PV5 at its 2025 EV Day event last month.
With its hard-to-miss futuristic design, the PV5 is a near replica of the concept shown at CES last January. The mid-size electric van is set to kick off Kia’s new Platform Beyond Vehicle (PBV) strategy.
The PV5 will initially be available in Passenger, Cargo, and Chassis Cab setups, but with “unprecedented flexibility,” you can expect to see more options soon. Two of the first will be the PV5 Crew, with additional cargo securing options and a Wheelchair-Accessible Vehicle (WAV) version.
After that, Kia will follow it up with Drop Side, Box Van, Freezer, Box, and Prime variations. It plans to launch a Light Camper conversion.
With sales kicking off in the second half of 2025, Kia’s electric van was spotted in Korea for the first time without camouflage. A new video from HealerTV gives us a better idea of what to expect when the PV5 hits dealerships later this year.
The PV5 maintains its techy, almost ahead-of-its-time design. Two exterior body colors were shown: white and a darker grey or black. As the reporter notes, it actually looks like an upgrade from the concept.
Kia did what it could at the back so it didn’t look like a bus, giving it more of a rounded overall shape. You can see how it stands apart from most MPVs you see today.
Like the Volkswagen ID.Buzz, Kia’s PV5 looks more like a minibus. At 4,695 mm long, 1,895 mm wide, and 1,899 mm tall, Kia’s passenger electric van is slightly smaller than the European ID.Buzz model (4,712 mm long, 1,985 mm wide, 1,937 mm tall).
It will be available with 51.5 kWh and 71.2 kWh battery packs, good for up to 400 km (249 miles) WLTP range. The PV5 can also fast charge (10% to 80%) in about 30 minutes. In comparison, powered by an 84 kWh battery, the ID.Buzz now offers up to 293 miles WLTP range.
Kia will launch sales in Korea and Europe later this year, followed by other global markets in 2026. Pre-orders will open soon, so check back for prices.
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