Connect with us

Published

on

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.

Advertisement – scroll for more content

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.

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

Continue Reading

Environment

Honda takes a page from Tesla playbook, launches new insurance business

Published

on

By

Honda takes a page from Tesla playbook, launches new insurance business

Say what you will about Elon Musk, but Tesla has changed the way that millions of people buy cars and, by extension, car insurance. Now, Honda is taking a page from Tesla’s successful playbook and launching its own in-house insurance business. Enter: Honda Insurance Solutions.

Honda Insurance Solutions is being launched as a fully licensed insurance agency serving the insurance needs of Acura and Honda customers, but it’s not stopping at competitive pricing and coverage options for Honda cars and motorcycles. Honda Insurance Solutions promises to go several steps beyond Tesla’s offering with coverage for trailers, RVs, homes, and even pets.

“Honda Insurance Solutions offers customers access to coverage through a brand they know and trust,” says Petar Vucurevic, President, American Honda Insurance Solutions, LLC and Senior Vice President, American Honda Finance Corporation. “Insurance is a key touchpoint in the vehicle ownership journey, and we aim to deliver a superior experience tailored to the unique needs of each customer, while promoting safer driving and increased peace of mind on the road.”

The company says the launch of its new insurance business is just part of Honda’s broader digital vehicle sales platform strategy, with future plans to integrate insurance offerings into new products.

Advertisement – scroll for more content

Electrek’s Take


Electric CUVE scooter; via Honda.

It’s important to note some of the key differences between Honda’s insurance offering and Tesla’s. Honda isn’t offering discounts, they’re not bundling insurance premiums into the vehicle financing, and they’re not building their insurance offerings into their dealerships’ checkout/F&I offices. Not yet, anyway.

What Honda is doing right now is deepening relationships with its existing customers and finding ways to make money on products it hasn’t sold them – whether that’s the Harley parked in the garage next to their Prologue or the garage itself.

It’s a smart play. And, once Honda figures out a way to cut franchise dealers out entirely and go to a direct sales model, it’ll look even smarter.

SOURCE | IMAGES: Honda.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you 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. It has 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 share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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

Continue Reading

Environment

Lion Electric school bus warranties voided, leaving districts stuck

Published

on

By

Lion Electric school bus warranties voided, leaving districts stuck

Nobody ever says “this is business” before doing something nice, and the recently reborn Lion Electric company is keeping that streak alive by doing the unthinkable to cut costs: they’re going to void the warranties on hundreds of electric school buses.

In a letter issued to exiting Lion Electric customers last week, Deloitte Restructuring announced that the warranties on all Lion vehicles purchased outside of the company’s home Province of Quebec are null and void – leaving dozens of school districts in the lurch with stranded assets that won’t get fixed, and can’t be sold to generate funds for replacements.

“We are working with alternate vendors at the expense of the school district to help keep our electric buses functional and on the road,” explains Dr. Richard Decman, Superintendent of Herscher CUSD No. 2 district in Herscher, Illinois. “Currently, six of our 25 (Lion) electric buses need some type of repair.”

Student Transportation News reports that Lion buses represent fully half of Herscher’s overall fleet of 50 buses, and that the district has received nearly $10 million for the purchase of 25 electric buses and the related charging stations from various state and utility incentive programs.

Advertisement – scroll for more content

Herscher isn’t the only district having problems with Lion buses. “All four Lion buses that we own are currently parked and not being used,” Coleen Souza, interim transportation director of Winthrop Public Schools, told Clean Trucking. “Two of them are in need of repairs which would cost us money which we are not willing to invest in because the buses do not run for more than a month before needing more repairs.”

More of the same in Maine, where Yarmouth School Department bought two Lion Electric buses in 2023 with the state covering the costs. According to Superintendent Andrew Dolloff, the buses almost never worked. “We’ve had some sporadic service over the past two years, but as soon as the tech leaves, the buses produce error codes again,” explained Dolloff. ” and “Then the technician quits or is released, and we wait a few months for the next response.”

Dolloff added that Yarmouth’s electric buses did not operate during the 2024-25 school year.

Lion’s new owners are seemingly uninterested in their customers’ plight – which might be easily dismissed if those new owners, Groupe MACH, weren’t also the old owners of Lion Electric.

That’s right, kids. Quebec-based real estate company Groupe MACH, which stepped in to “save” Lion Electric earlier this summer, along with Ontario-based Mirella & Lino Saputo Foundation, bought $90 million of equity in Lion Electric back in 2023. And, while the MACH people may not have been the ones who ultimately made the call about voiding the warranties (that decision was made by the Deloitte bankruptcy team), it is absolutely Group MACH who have, to date, not announced plans to continue to honor those warranties, either.

Make of that what you will.

Deloitte Lion letter


SOURCES: School Transportation News, Clean Trucking, Deloitte.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you 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. It has 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 share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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

Continue Reading

Environment

The Retrospec Beaumont Rev 2 might be the most stylish eBike for under $1K [Video]

Published

on

By

The Retrospec Beaumont Rev 2 might be the most stylish eBike for under $1K [Video]

We recently had the opportunity to test out Retrospec’s Beaumont Rev 2 electric bike. This Class 2 electric city bike is as stylish as it is functional. Despite its streamlined design, the Beaumont Rev 2 is sneaky fast with quality components throughout. Be sure to check out our full video review below.

Our latest product review came through Retrospec – a veteran micromobility company dedicated to delivering affordable, high-quality, adventure-ready eBikes without compromising performance or style.

According to Retrospec, its products aim to “make nature second nature” by offering accessible, high-quality gear that encourages people of all ages and abilities to enjoy the outdoors to “make nature second nature” by providing accessible, high-quality gear that encourages people of all ages and abilities to enjoy the outside world.

Designed for adventure and built to last, Retrospec prides itself on delivering mobility products look great, perform flawlessly, and stand up to the test of time. A fine example of this company ethos is the Beaumont Rev 2 electric city bike.

Advertisement – scroll for more content

The Beaumont Rev 2 has already gone viral as Retrospec’s number one best seller. It initially caught our eye because it combines a stylish vintage look of classic bicycles with modern tech to cruise quickly and easily.

We recently had an opportunity to take one of these eBikes out and have plenty to say about it.

Upon first ride, you can’t ignore the classic style of this eBike, which looks and feels super light, similar to a conventional bicycle. However, with one press of the throttle, you get a feel for the function and versatility of the Beaumont Rev 2, which was designed by Retrospec specifically for city riding.

The bike’s powerful rear hub motor is supported by a Shimano MegaRange drivetrain that can easily be switched between seven different gears with your right hand.

The electric motor offers five different levels of electric pedal assist and an easy-to-use throttle on the left handlebar (pictured below). As a Class 2 eBike, the Beaumont Rev 2 can cruise to assisted speeds as high as 20 mph. The bike itself is powered by a UL2849-Certified Battery that offers riders a range of up to 38 miles on a single charge.

If you encounter dirt or debris on your journey, you’re protected by full-wrap front and rear fenders. Other features of the Retrospec Beaumont Rev 2 include front and rear lights, a rear cargo rack, and Tektro mechanical disc brakes (pictured above).

Combined with the padded saddle seat and swingback handlebars, the Beaumont Rev 2 is as comfortable and supportive of a ride as it is functional.

As an urban-style e-bike, the Beaumont Rev 2 isn’t necessarily built for off-road riding, but as you’ll see in the video below, there were a couple of times I cut through some grassy terrain to get on and off the bike path, and the bike fared just fine.

I truly enjoyed the smooth comfort of this unique, Euro-style step-through bike thanks to its wide, high-volume city tires. It also feels like it rides a lot faster than 20 mph due to its light frame and best-in-class powertrain components.

While the Beaumont Rev 2 comes with the above mentioned accessories, Retrospec sells many compatible add-on components, including helmets, baskets, trailers, bike bags & panniers, air pumps, and car racks. In addition to the Beaumont Rev 2, Retrospec offers a growing lineup of all-electric city bikes. We highly recommend checking those out to find the right bike for you.

Retrospec also offers a range of other eBike categories, including fat tire electric bikes, electric beach cruiser bikes, electric commuter bikes, electric trikes, and more. All Retrospec eBikes are UL2849 certified, feature sleek and stylish designs, and employ the most modern eBike technology to make riding an absolute blast. Check out the full lineup here.

If you’re interested in riding in style on Retrospec’s best-selling Beaumont Rev 2 eBike, you can purchase one here. This blend of classic and modern is available for just under $1,000, making it one of the most affordable options in its class.

To learn more about this stylish electric city bike, be sure to check out our full video review below.

Buy the Retrospec Beaumont Rev 2

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

Continue Reading

Trending