We’ve covered plenty of tax incentives and rebates to make electric motorcycles and other EVs more affordable. But this is the first time we’ve seen a country give out EVs for free as a way to replace internal combustion engine (ICE) vehicles.
The title of the first country to make such a bold move goes to Uganda, where President Yoweri Kaguta Museveni made the announcement during his year-end national address.
According to Museveni, the government will provide electric motorcycles as a trade-in for any Ugandans currently riding ICE-powered motorcycles.
The Ugandan government won’t have to fund the large program itself, as news reports quoted the president as attributing the capital to “investors”:
We have agreed with some investors, to take away the petrol ones and give the owners the electric ones. This swap will save motorcycle operators 50% of the cost.
Those investors will reportedly be granted licenses to operate charging and battery swap stations, which would be used to recoup their investment.
An example of a locally-made Ugandan motorcycle from Zembo
The electric motorcycles are domestically-produced Ugandan models that generally retail for around 5 million Ugandan Shillings (approximately US $1,350).
They’re commonly used by boda bodas, which are motorcycle taxis that are popular in much of Africa. Whereas in someplaces you might hail an Uber or Lyft to go meet up with friends, in Uganda, it is common to hop on the back of a motorcycle taxi and be quickly whisked to your destination (though Uber actually also operates a boda boda service in Uganda — go figure).
Many African nations have pushed to electrify these large motorcycle fleets, but Uganda’s announcement marks the single largest program yet designed to replace all ICE-powered motorcycles in a country.
In addition to the obvious environmental benefits, electric motorcycles are likely to help support the independent motorcycle taxi operators with lower operating costs. Ugandan Science and Technology Minister, Dr. Monica Musenero, put the operational cost savings as even higher than the President’s figures:
These bikes are 60% cheaper to operate than the current ones because they don’t take fuel. Charging the motorbike takes a very small fraction. They don’t have a lot of serviceable parts and the operator gets a lot more money. Because they are made here, we are taking care of safety measures and local circumstances. For example, if it is stolen, it will report to us and we will be able to switch it off. If you try to remove parts, it will report. This will enhance security of the motorcycle.
A battery charging and swap station in Kampala, Uganda
The motorcycles are designed for urban operation and, thus, don’t have very long ranges. A single charge is capable of providing around 70 km (43 miles) of range.
For that reason, the motorcycles rely on a network of charging and battery swap stations. Companies, like Zembo, already operate over a dozen charging and swapping stations in the country’s capital of Kampala.
According to Musenero, additional stations are already going up to reach further out of town.
Three have already been set up along Masaka road in Buwama, Lukaya and Masaka city. The most expensive component of the electric motorcycle is the battery and to this, the rider doesn’t have to own the battery. They will be leasing the batteries. When running low, the rider will go to the next charging station to change it and pay some money to get another one and leave the one which is low at the station.
Motorcycle taxis are a popular means of transportation in many African countries
Museveni added that other electric vehicles will also be receiving incentives to encourage rapid electrification.
As he explained:
We are working on plans to shift to electric buses, electric cars and electric motorcycles. The shift in transport vehicles is not only in respect of motorcycles. It also involves the buses, cars, mini-buses, pick-ups, etc.
Electrek’s Take
This is an interesting way to create an incentive to replace polluting vehicles with efficient EVs. Instead of incentivizing the end customers with discounts, like we normally see in the West, Uganda is somehow incentivizing the companies that make the motorcycles and operate the battery swap stations.
It’s sort of like the old razor and cartridge model — get the razor handle for free and become a razor cartridge shopper for life. But in this case, it’s sort of a win-win-win, in that Uganda reduces pollution, motorcycle owners reduce their costs, and motorcycle/battery companies get a huge influx of customers to use their battery swapping stations.
I just hope the math works out here because it almost sounds too good to be true.
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Enbridge is going big on solar again in Texas, and Meta is snapping up all the solar power it can get.
Last month, Electrek reported that the Canadian oil and gas pipeline giant just launched its first solar farm in Texas. Now it’s given the green light to Clear Fork, a 600 megawatt (MW) utility-scale solar farm already under construction near San Antonio. The project is expected to come online in summer 2027.
Once it’s up and running, every bit of Clear Fork’s electricity will go to Meta Platforms under a long-term contract. Meta will use the solar power to help run its energy-hungry data centers entirely on clean energy.
The solar farm project’s cost is around $900 million. Enbridge says it expects Clear Fork to boost the company’s cash flow and earnings starting in 2027.
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Enbridge EVP Matthew Akman said the project reflects “growing demand for renewable power across North America from blue-chip companies involved in technology and data center operations.”
Meta’s head of global energy, Urvi Parekh, added that the company is “thrilled to partner with Enbridge to bring new renewable energy to Texas and help support our operations with 100% clean energy.”
Meta’s first multi-gigawatt data center, Prometheus, is expected to come online in 2026.
Clear Fork is part of a growing trend: tech giants like Meta, Amazon, and Google are racing to lock down renewable energy contracts as they expand their fleets of AI-ready data centers, which use massive amounts of electricity.
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A fully electric Japanese electric pickup truck? It’s not a Toyota or Honda, but Isuzu’s new electric pickup packs a punch. The D-MAX EV can tow over 7,770 lbs (3,500 kg), plow through nearly 24″ (600 mm) of water, and it even has a dedicated Terrain Mode for extreme off-roading. However, it comes at a cost.
Meet Isuzu’s first electric pickup: The D-MAX EV
After announcing that it had begun building left-hand drive D-MAX EV models at the end of April, Isuzu said that it would start shipping them to Europe in the third quarter.
By the end of the year, Isuzu will begin production of right-hand drive models for the UK. Sales will follow in early 2026.
Isuzu announced prices this week, boasting the D-MAX EV features the same “no compromise durability” of the current diesel version.
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The D-MAX EV pickup features a full-time 4WD system, a towing capacity of up to 3.5 tons (7,700 lbs), and an added Terrain Mode, which Isuzu says is designed for “extreme off-road capability.” With 210 mm (8.3″) of ground clearance, Isuzu’s electric pickup can wade through up to 600 mm (24″) of water.
Powered by a 66.9 kWh battery, Isuzu’s electric pickup offers a WLTP range of 163 miles. With charging speeds of up to 50 kW, the D-MAX EV can recharge from 20% to 80% in about an hour.
The electric version is nearly identical to the current diesel-powered D-Max, both inside and out, but prices will be significantly higher.
Isuzu D-Max EV specs and prices
Drive System
Full-time 4×4
Battery Type
Lithium-ion
Battery Capacity
66.9 kWh
WLTP driving range
163 miles
Max Output
130 kW (174 hp)
Max Torque
325 Nm
Max Speed
Over 130 km/h (+80 mph)
Max Payload
1,000 kg (+2,200 lbs)
Max Towing Capacity
3.5t (+7,700 lbs)
Ground Clearance
210 mm
Wading Depth
600 mm
Starting Price (*Ex. VAT)
£59,995 ($81,000)
Isuzu D-Max EV electric pickup prices and specs
Isuzu’s electric pickup will be priced from £59,995 ($81,000), not including VAT. The double cab variant starts at £60,995 ($82,500). In comparison, the diesel model starts at £36,755 ($50,000).
The EV pickup will launch in extended and double cab variants with two premium trims: the eDL40 and V-Cross. Pre-sales will begin later this year with the first UK arrivals scheduled for February 2026. Customer deliveries are set to follow in March.
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In this photo illustration, Claude AI logo is seen on a smartphone and Anthropic logo on a pc screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)
Sopa Images | Lightrocket | Getty Images
OpenAI and Anthropic continue to lead a fundraising bonanza in artificial intelligence, raising historic rounds and stratospheric valuations.
But when it comes to finding AI exits for venture firms, the market looks a lot different.
AI startups raised $104.3 billion in the U.S. in the first half of this year, nearly matching the $104.4 billion total for 2024, according to PitchBook. Almost two-thirds of all U.S. venture funding went to AI, up from 49% last year, PitchBook said.
The biggest deals follow a familiar theme. OpenAI raised a record $40 billion in March in a round led by SoftBank. Meta poured $14.3 billion into Scale AI in June as part of a way to hire away CEO Alexandr Wang and a few other top staffers. OpenAI rival Anthropic raised $3.5 billion, while Safe Superintelligence, a nascent startup started by OpenAI co-founder Ilya Sutskever, raised $2 billion.
While Meta’s massive investment into Scale AI amounted to a lucrative exit of sorts for early investors, the overarching trend has been a lot more money going in than coming out.
In the first half, there were 281 VC-backed exits totaling $36 billion, according to PitchBook. That includes the roughly $700 million acquisition of EvolutionIQ, an AI platform for disability and injury claims management, by CCC Intelligent Solutions, and the public listing of Slide Insurance, which builds AI-powered insurance offerings for homeowners. Slide is valued at about $2.3 billion.
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“The dominant exit trend right now is frequent but lower-value acquisitions and fewer IPOs with significantly higher value,” said Dimitri Zabelin, PitchBook’s senior research analyst for AI and cybersecurity.
CoreWeave’s IPO, which took place at the very end of the first quarter, was the exception on the infrastructure side. The stock shot up 340% in the second quarter, and the company is now valued at over $63 billion.
Zabelin said the pattern of more investments in applications with smaller deals has been in place for the past year.
“Vertical solutions tend to plug more easily into existing enterprise gaps,” Zabelin said.
The acquisitions wave is being driven, in part, by what Zabelin calls bolt-on deals where larger companies buy smaller startups to enhance their own future valuations, hoping to enhance their value ahead of a future sale or IPO.
“That also has to do with the current liquidity conditions in the macro environment,” Zabelin said.
Outside of AI, activity is slow. U.S. fintech funding dropped 42% in the first half of the year to $10.5 billion, according to Tracxn. Cloud software and crypto have also seen sharp pullbacks.
Zabelin said IPO activity could pick up if economic conditions improve and if interest rates come down. Investors clearly want opportunities to back promising AI companies, he said.
“The appetite for AI, specifically vertical applications, will continue to remain robust,” Zabelin said.
— CNBC’s Kevin Schmidt contributed to this report.