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Chinese auto conglomerate Build Your Dreams (BYD) has begun previewing its Q1 2025 financial results. Although its numbers have dipped compared to Q4 2024, the automaker’s net income continues to soar year over year. BYD expects that number to be up at least 86% but could be much higher.

BYD’s growth and expansion have become a weekly news topic here at Electrek, with no signs of the Chinese automaker slowing down, even amidst growing trade tensions between global superpowers and tariffs sure to stunt everyone’s growth.

The Chinese auto conglomerate has become one of the most innovative and fast-growing companies in its respective segment, expanding its market reach throughout Asia and into new markets with sales and localized production around Europe, South America, and (maybe) North America.

2024 marked a record year for BYD’s financial results, achieving over $100 billion in sales, which has continued so far this year. Last week, we reported that through the first three months of 2025, BYD had sold over one million New Energy Vehicles (NEVs), up 60% from the 626,263 sold in Q1 2024.

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With Q1 2025 now complete, BYD has begun teasing its financial results for the past three months and we expect to see more tremendous year-over-year growth from the automaker.

BYD's-ultra-luxury-EV-sedan
BYD Yangwang U7 ultra-luxury electric sedan (Source: Yangwang)

BYD’s financial results promise continued YoY growth

CnEVPost pointed out that BYD made a stock exchange announcement in China earlier today, sharing an encouraging tidbit about its Q1 2025 financial results. The automaker expects its quarterly net income to land between RMB 8.5 billion ($1.16 billion) and RMB 10 billion ($1.37 billion). That translates to year-over-year growth between 86.04% and 18.88% compared to Q1 2024.

BYD’s Q1 2025 numbers are not as strong as a quarter ago, but that is common for all automakers, as the first three months of the year are usually a slower period for sales. Still, the first three months of 2025 marked BYD’s highest first-quarter performance in NEV sales to date.

As a result, BYD expects its basic earnings per share in Q1 2025 to land between RMB 2.91 ($0.40) and RMB 3.42 ($0.47) compared to RMB 1.57 ($0.21) in Q1 2024. It’s important to note that these initial numbers are preliminary calculations, and we will get a better idea of where BYD’s Q1 growth sits when it releases its full financial results.

Still, BYD’s Q1 2025 NEV sales grew, bolstering its reign as the global leader in the segment (note that this includes PHEV sales). As we reported last week, it appears BYD is continuing to grow globally, and its upcoming financial results could provide evidence that it will finally overtake Tesla’s global BEV market share at some point this year.

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Hyundai launches new EV grant program offering up to $5,000 in savings

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Hyundai launches new EV grant program offering up to ,000 in savings

Hyundai is the latest carmaker offering significant discounts on electric vehicles in the UK. The Hyundai Electric Grant program offers up to £3,750 ($5,000) off popular EVs, including the Inster EV, IONIQ 5, and new IONIQ 9. And it’s not just the UK, Hyundai is launching deals in nearly every market.

Hyundai launches new EV grant program in the UK

Starting today, July 25, all Hyundai electric vehicles in the UK are eligible for the program. Hyundai’s EV grant offers buyers £3,750 ($5,000) off the 2025 Inster, the brand’s new entry-level electric SUV.

The savings are available across Hyundai’s entire EV lineup, with £1,500 ($2,000) in savings on the IONIQ 5, Kona Electric, and IONIQ 9.

“As the electric vehicle landscape continues to evolve, it is important that customers have complete clarity, choice and compelling value when making the switch to electric,” Ashley Andrew, president of Hyundai and Genesis UK, said on Friday.

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After launching the Inster EV and its flagship IONIQ 9 this year, Hyundai now offers a complete lineup ranging from entry-level to a three-row electric SUV.

The EV grant is available immediately across Hyundai’s UK dealer network, including for retail, Hyundai Affinity, or Contract Hire purchases.

Hyundai-EV-grant
Hyundai Inster EV (Source: Hyundai UK)

Until August 31, buyers can score an extra £500 ($671) off the Inster EV and Kona Electric through Hyundai’s Electrifying Summer promo.

Hyundai is also offering 24-hour test drives, allowing customers to try it before making a purchase. The Korean automaker follows other brands, including MG and Leapmotor, to offer discounts ahead of the UK’s new EV grant program.

Hyundai-EV-grant
Hyundai Kona Electric N Line (Source: Hyundai)

According to new registration data from Jato, Hyundai was the 10th best-selling EV brand in Europe in the first half of 2025.

The Inster EV, priced from £23,505 ($31,500), cracked the top 20 most registered EVs last month with over 3,300 units sold. Hyundai Motor, including Kia’s share of the EV market, rose from 12.6% to 19.1% in H1 2025.

Hyundai is offering significant savings on electric vehicles not just in the UK, but essentially in every market, including the US, right now.

Hyundai-IONIQ-5
2025 Hyundai IONIQ 5 at a Tesla Supercharger (Source: Hyundai)

Following the launch of an aggressive sales promotion this summer, Hyundai is now offering 0% interest for 60 months on its top-selling SUVs. The savings are available on new EV models, including the 2025 IONIQ 5 and 2026 IONIQ 9 (see our review of it).

Hyundai-EV-grant
2026 Hyundai IONIQ 9 (Source: Hyundai)

The 2025 Hyundai IONIQ 5, which now offers up to 318 miles of range and a NACS port for charging at Tesla Superchargers, is listed for lease at just $179 per month. That’s about the lowest national offer for an electric SUV currently available.

Both the IONIQ 5 and IONIQ 9 are built at Hyundai’s new EV plant in Georgia, so they still qualify for the $7,500 US tax credit. However, that’s set to end at the end of September.

Ready to try one out for yourself? You can use our links below to find offers on Hyundai’s electric vehicles in your area.

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Tesla is about to launch ‘Robotaxi’ in Bay Area, but with someone in the driver’s seat

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Tesla is about to launch 'Robotaxi' in Bay Area, but with someone in the driver's seat

Tesla is stripping all meaning from the word “Robotaxi” as it plans to expand its supposedly autonomous ride-hailing program to the Bay Area as soon as this weekend, albeit with a driver in the driver’s seat.

As we have often highlighted over the last few months, Tesla’s ‘Robotaxi’ launch is purely about optics.

Tesla is not yet ready to launch a level 4 autonomous driving system, but Elon Musk needs Tesla to achieve a win in self-driving after years of failed promises.

They decided to launch “Robotaxi”, a ride-hailing service in Austin, Texas, but due to the automaker not being ready to deploy level 4 autonomy, it had to add a safety monitor in the passenger front seat at all times.

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That passenger has access to controls capable of stopping the vehicle at all times, which is similar to how Tesla’s consumer version of ‘Supervised Full Self-Driving’ works. In short, it’s basically ‘Tesla Supervised Full Self-Driving’, but with the supervisor moving from the driver’s seat to the front passenger’s seat.

Those supervisors have already had dozens of interventions over just 7,000 miles in Austin over the last month.

Now, Tesla is looking to launch its ‘Robotaxi’ in the Bay Area. Rumors are that it could be as soon as this weekend.

However, during Tesla’s earnings call this week, Tesla’s head of self-driving, Ashok Elluswamy, confirmed that it will be with “a person in the driver’s seat”:

“The next is the San Francisco Bay Area. We are working with the government to get approval here, and meanwhile, we will launch the service with a person in the driver’s seat just to expedite while we wait for regulatory approval.”

The Tesla executive claims that Tesla is “waiting for regulatory approval”, but last we heard, Tesla has yet to apply for the proper permits to commercially operate autonomous vehicles in California.

Electrek’s Take

To be clear, this is no different than an Uber driver who owns a Tesla with FSD picking you up at the airport. Tesla is looking to launch an Uber service in the Bay Area with employees at the wheel who use FSD, and it is going to call it ‘Robotaxi’.

It’s no more than a distraction from the fact that Tesla can’t deliver a level 4 autonomous driving system.

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Nexamp found a faster way to build solar – it did the utility’s job, too

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Nexamp found a faster way to build solar – it did the utility's job, too

Nexamp just pulled off something that could speed up clean energy deployment across the US – and potentially lower costs for everyone. The Boston-based solar developer just finished building three new solar farms in Maine and Massachusetts. But instead of waiting on the utility to handle all the grid hookup work, Nexamp did it themselves.

That might not sound groundbreaking at first, but in the world of renewable energy, it’s a pretty big deal. Normally, utilities are in charge of any grid upgrades and interconnection work needed before a new solar project can start sending power to homes and businesses. That process can be very slow and expensive.

Nexamp’s new approach, called “self-performance,” flips the script. It lets developers take on some of that work, like ordering and installing equipment, so they don’t have to sit around waiting for the utility to schedule it. That means solar farms can get online faster, which gets clean power to the grid sooner and keeps project costs in check.

The three projects that kicked off this self-performance effort are:

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  • Hartland Solar – 1.2 MW DC in Hartland, ME
  • Barre Road Solar – 1.3 MW DC in New Braintree, MA
  • Summit Farm Solar – 2.6 MW DC, also in New Braintree

Nexamp didn’t go rogue – they worked closely with Central Maine Power and National Grid on the interconnection designs, safety standards, and technical specs. But by handling the actual procurement and construction, Nexamp had way more control over cost, timing, and supply chain headaches.

“Self-performance lets us take much greater control over interconnection procurement and construction,” said Daniel Passarello, Nexamp’s lead consulting engineer for grid integration. “We can move much of the interconnection work forward at the same time as the solar farm build instead of treating them as separate. That helps us bring projects online faster and stay closer to budget.”

It also helps that Nexamp already has solid relationships with suppliers. Instead of going through multiple layers of utility procurement, they can go straight to the source, fast.

That kind of streamlining is exactly what the solar industry needs right now. Community solar is booming – as of the end of 2024, nearly 8 gigawatts of it have been installed across the US, according to the the Solar Energy Industries Association (SEIA), and that number is expected to almost double by 2030. But bottlenecks in the interconnection process slow things down.

Sara Birmingham, VP of state affairs at SEIA, called Nexamp’s move a step in the right direction. “We must modernize and streamline the interconnection process to keep pace with fast-growing demand,” she said. “Self-performance is one of several innovative approaches that can accelerate project timelines and lower costs, which benefits all ratepayers.”

Read more: Walmart and Nexamp are rolling out 31 solar farms in 5 states


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