Car manufacturers are making a huge move that could transform EV travel: 'They will make good on their goals'
An alliance of eight automakers has breathed new life into expanded nationwide electric vehicle charging opportunities.
A news release from Ionna — founded by BMW, General Motors, Honda, Hyundai, Kia, Mercedes-Benz, Stellantis, and Toyota — detailed plans to deploy 1,000 charging stalls by the end of the year. That would provide coast-to-coast travel with powerups along the way, per the statement.
The larger goal is to open 30,000 of the American-made DC fast-charging bays during the next five years, according to Ionna and Car and Driver. It's an appealing prospect for EV owners who have been seeing mixed news lately about charging infrastructure investment.
"They have steel and concrete in the ground with electrons flowing. I'd say they will make good on their goals," an Electrek reader, identified as Jim B., commented on a story about the project.
In 2024, hundreds of millions of dollars was allocated by the U.S. government to build out and update the nation's charging system. But federal funding for the network has been paused by the Trump administration, according to NPR and a White House statement.
Ionna announced its pilot phase included more than 4,400 charges of more than 80 vehicle models. Now, more than 100 sites are contracted around the country to deploy the tech in cities including Houston, Texas, and Abilene, Kansas.
A reliable national charging system is important. Cox Automotive reported that new EV sales volume hit 102,243 in January. That's up nearly 30% from the previous year, and used EV sales rose 30.5% year-to-year too.
The used market highlights growing battery reliability and longevity. What's more, Goldman Sachs reported the packs could see a 50% price drop by 2026. And while Sustainability by Numbers predicted that around 30 million tons of minerals will need to be mined each year to build all the batteries and other tech for our cleaner-energy transition, it still pales in comparison to the 16.5 billion tons of air-polluting fossil fuels hauled from underground annually.
Also, once coal or gas is burnt for energy, the resource is gone, with heat-trapping air pollution left as a byproduct. Those fumes are linked by NASA to increased risks for severe weather, including damaging wildfires and coastal storms. Metals used in batteries, however, can be recycled.
If you were going to purchase an EV, which of these factors would be most important to you?
Cost
Battery range
Power and speed
The way it looks
Click your choice to see results and speak your mind.
It's still a good time to switch to an EV, with tax breaks worth thousands of dollars for new and used rides available. That's in addition to $1,500 in gas/maintenance costs you can save annually.
And more charging options are seemingly on the way. Tesla operates more than 60,000 Superchargers worldwide, 27,000 of them stateside. Most of the stalls are accessible to non-Teslas with an adapter. The growing network can provide up to 200 miles in about 15 minutes.
Increasing the convenience, an Ionna site in Garner, North Carolina, is to have a food/refreshment service available 24/7 without lines, thanks to an automated process made possible by Amazon. It's part of an experience touted as being "AI-driven" and "innovation-rich," per the release.
It is also a glimpse into the roadside rest stop future.
"Ionna has refined its hardware, software, and customer experience to confidently step into a new phase of nationwide expansion," the developers wrote.
Join our free newsletter for weekly updates on the latest innovations improving our lives and shaping our future, and don't miss this cool list of easy ways to help yourself while helping the planet.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
PA House passes bill requiring American-made steel in tax-payer funded projects
HARRISBURG, Pa. (WHTM) — The Pennsylvania House of Representatives passed a bill Monday requiring American-made steel for all tax-payer funded projects. State law already requires government projects to use American-made steel. However, H.B. 1018 would extend this requirement to private entities receiving public funds or tax incentives. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now 'This is one way to bring back good-paying, family-sustaining jobs – by leveling the playing field for hardworking people and industries that were economically steamrolled by unfair competition,' said Rep. Frank Burns (D-Cambria), who sponsored the bill. The bill, which is a part of Burns' larger 'American Made Jobs Plan,' passed the House 200-2. It will now move to the Senate for concurrence. Mexican aluminum, steel exporters say sales in US down 63% due to tariffs The bill comes as tariffs have driven down the demand for foreign-made steel. In February, President Donald Trump ordered a 25% tariff on Mexican and Canadian steel and aluminum imports. Exporters of Mexican steel and aluminum said that has led to a 63% drop in sales to the United States. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
29 minutes ago
- Yahoo
Why China's auto, tech giants threaten Tesla's self-driving future
By Norihiko Shirouzu AUSTIN, Texas (Reuters) -Chinese electric-vehicle makers led by BYD beat Tesla in the competition to produce affordable electric vehicles. Now, many of those same fierce competitors are pulling into the passing lane in the global race to produce self-driving cars. BYD shook up China's smart-EV industry earlier this year by offering its 'God's Eye' driver-assistance package for free, undercutting the technology Tesla sells for nearly $9,000 in China. 'With God's Eye, Tesla's strategy starts to fall apart,' said Shenzhen-based BYD investor Taylor Ogan, an American who has owned several Teslas and driven BYD cars with God's Eye, which he called more capable than Tesla's 'Full Self-Driving' (FSD). It's not just BYD. Other Chinese auto and tech companies are offering affordable EVs with FSD-like technology for a relative pittance. China's Leapmotor and Xpeng, for instance, offer systems capable of highway and urban driving in $20,000 vehicles. A slew of Chinese firms are chasing the same technology, an industry push backed by China's government. BYD's assisted-driving hardware costs are far lower than Tesla's, according to analyses performed for Reuters by companies that dismantle and analyze vehicles for automakers. The comparisons, which have not been previously reported, show that BYD's costs to procure components and build a system with radar and lidar are about the same as Tesla's FSD, which doesn't have such sensors. That undercuts Tesla's unusual technological approach, which aims to save costs by nixing such sensors and relying solely on cameras and artificial intelligence. The rising competition from Chinese smart-EV players is among the chief problems confronting Tesla CEO Elon Musk after his rocky tenure as a Trump administration advisor as he refocuses on his business empire - as Tesla vehicle sales are tanking globally. The stakes are made higher by a moment-of-truth challenge this month in Tesla's home base of Austin, Texas, where it plans to launch a robotaxi trial with 10 or 20 vehicles after a decade of Musk's unfulfilled promises to deliver self-driving Teslas. Tesla did not respond when reached for comment about its Chinese competitors. Previously, Musk has described Chinese car companies as the most competitive in the world. Chinese competition was one factor driving Tesla's strategic pivot away from mass-market EVs last year, when Reuters reported it had killed plans to build an all-new EV expected to cost $25,000. Musk has since staked Tesla's future instead on self-driving robotaxis, the hopes for which now underpin the vast majority of the automaker's stock-market value of roughly $1 trillion. Now Tesla faces the same stiff competition on vehicle autonomy from many of the same Chinese automakers who undercut its affordable-EV plans. Adding to the challenge are tech firms including Chinese smartphone giant Huawei, which supplies autonomous-driving technology to major Chinese automakers. Short of full autonomy, today's driver-assistance systems offer a critical competitive edge in China, the world's largest car market, where Tesla sales are falling amid a protracted price war among scores of homegrown EV brands. Tesla is further handicapped by China's regulations preventing it from using data collected by Tesla cars in China to train the artificial intelligence underpinning FSD. Tesla has been negotiating with Chinese officials, so far without success, to get permission to transfer such data back to the United States for analysis. Tesla's competitors in China do benefit from subsidies and other forms of policy support from Beijing for advanced assisted driving technology. Their advantages also stem from another consequential factor: cut-throat smart-EV competition that has characterized their industry over the past decade. The resulting EV boom created economies of scale and the industry's tendency to forgo some profit margins to expand new technologies' market penetration quickly, leading to lower manufacturing costs. STREETS OF SHENZHEN BYD investor Ogan, of Shenzhen-based Snow Bull Capital, has a front-row seat to China's autonomous-tech battleground. He recently drove several BYD models equipped with God's Eye, he said, and didn't have to take over driving in any of them while traveling the congested streets of Shenzhen, a bustling southern China megalopolis of 18 million people. Another notable smart-EV player in China is Huawei, experts say. Huawei lends its technology and branding to a half dozen automakers including heavyweights Chery, SAIC and Changan, and has lower-profile partnerships with more than a dozen other carmakers, Huawei representatives said. Reuters journalists rode in an Aito M9 — a luxury electric SUV from Seres with Huawei driver-assistance technology — as it navigated Shenzhen roadways in April. With a driver's hands off the wheel, the vehicle exited a highway seamlessly into a congested urban zone, where the M9 proceeded cautiously and slowed to a crawl as a construction worker appeared like he might walk into the roadway. At one point the vehicle turned right and slowly drifted left to avoid two men unloading boxes from a parked truck. The vehicle then parallel parked itself at Huawei's Shenzhen headquarters. Huawei was among several Chinese companies, including automakers Zeekr, Changan and Xpeng, that touted progress towards fully-autonomous cars at April's Shanghai auto show, even as Beijing announced a new marketing crackdown on terms such as 'smart' and 'intelligent' driving in the wake of a deadly crash in a Xiaomi vehicle involving driver-assistance technology. Huawei said it's ready to undergo a new validation regime being developed by Chinese regulators to certify so-called Level 3 driving systems, meaning they are capable enough to allow drivers to look away unless notified by the system to take over. Zeekr, a luxury brand of China auto giant Geely, also plans to soon sell cars with Level 3 systems. Tesla has yet to release such an "unsupervised" version of FSD because its technology needs more training to operate without a driver's hands on the wheel and eyes on the road. Tesla plans to launch self-driving robotaxis in Austin this month. Little is known about its plans. The company has said it aims to initially deploy between 10 and 20 fare-collecting driverless robotaxis in restricted geographic areas of the city, which Tesla has not publicly identified. 'GOD'S EYE' ON THE CHEAP Chinese EV makers are moving quickly to develop driver-assistance systems in a market where car-buyers are demanding them at a faster pace than in other regions, analysts say. Their ability to do so at lower costs poses the biggest threat to Tesla's new autonomy-based business model. BYD buyers can get an FSD-comparable version of God's Eye as a standard feature in cars priced at about $30,000. The cheapest FSD-equipped Tesla in China is a Model 3 selling for about $41,500. According to an analysis by A2MAC1, a Paris-based tear-down firm that benchmarks components, the mid-level God's Eye version most comparable to Tesla's FSD runs on an Nvidia computing chip with data collected through 12 cameras, five radars, 12 ultrasonic sensors, and one lidar sensor, at a cost of $2,105. That compares to $2,360 for Tesla's FSD, which uses cameras without sensors and two AI chips, the firm estimates. Cameras, radar and ultrasonic sensors are 40% cheaper in China than comparable devices in Europe and the United States, A2MAC1 estimates. Lidar sensors cost about 20% less, the firm says. Sensor costs have fallen because China's EV boom created economies of scale, said A2MAC1 engineer Elena Zhelondz. The fierce competition also pushed carmakers and suppliers to accept lower profits on driver-assistance equipment, she said. BYD's 22% gross margin will likely fall as it gives away God's Eye but it will benefit from a vehicle-sales boost, said Chris McNally, head of global automotive and mobility research for advisory firm Evercore. MORE CARS, MORE MILES, BETTER AI Falling behind the Chinese brands on driver-assistance technology would compound Tesla's challenges in China, where it's already losing market share to rivals including BYD, which sells an entry-level EV for less than $10,000. The growing scale of BYD and others could also provide a technological advantage: Racking up more miles on China roads helps train the AI technology needed to perfect automated-driving systems. BYD has a 'clear and ongoing market-share driving advantage' over Tesla in gathering such on-road data to refine God's Eye, Evercore's McNally said, adding that advantage might only increase as offering God's Eye for free helps sell more BYD vehicles. BYD's scale also helps lower costs by providing uncommon leverage over suppliers. In November, a BYD executive in charge of passenger-vehicle operations wrote to suppliers telling them that the automaker sold 4.2 million vehicles last year (more than double the number of Teslas sold) because of 'technical innovation, economies of scale, and a low-cost supply chain.' The executive noted the new year would likely bring more growth, but also fiercer competition. Without specifically mentioning God's Eye, he ended the letter by asking the suppliers for an across-the-board 10% price cut on all parts and systems starting on January 1, calling the new year a final 'knockout round.' Sign in to access your portfolio
Yahoo
34 minutes ago
- Yahoo
Institutions profited after AUTO1 Group SE's (ETR:AG1) market cap rose €259m last week but retail investors profited the most
Significant control over AUTO1 Group by retail investors implies that the general public has more power to influence management and governance-related decisions A total of 11 investors have a majority stake in the company with 51% ownership 34% of AUTO1 Group is held by Institutions Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Every investor in AUTO1 Group SE (ETR:AG1) should be aware of the most powerful shareholder groups. And the group that holds the biggest piece of the pie are retail investors with 44% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). While retail investors were the group that reaped the most benefits after last week's 5.0% price gain, institutions also received a 34% cut. Let's delve deeper into each type of owner of AUTO1 Group, beginning with the chart below. Check out our latest analysis for AUTO1 Group Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. We can see that AUTO1 Group does have institutional investors; and they hold a good portion of the company's stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at AUTO1 Group's earnings history below. Of course, the future is what really matters. Our data indicates that hedge funds own 13% of AUTO1 Group. That's interesting, because hedge funds can be quite active and activist. Many look for medium term catalysts that will drive the share price higher. Cadian Capital Management, LP is currently the largest shareholder, with 13% of shares outstanding. Hkvv GmbH is the second largest shareholder owning 9.1% of common stock, and Coronation Fund Managers Limited holds about 5.0% of the company stock. After doing some more digging, we found that the top 11 have the combined ownership of 51% in the company, suggesting that no single shareholder has significant control over the company. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. Our data cannot confirm that board members are holding shares personally. It is unusual not to have at least some personal holdings by board members, so our data might be flawed. A good next step would be to check how much the CEO is paid. With a 44% ownership, the general public, mostly comprising of individual investors, have some degree of sway over AUTO1 Group. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. It seems that Private Companies own 9.1%, of the AUTO1 Group stock. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company. While it is well worth considering the different groups that own a company, there are other factors that are even more important. For instance, we've identified 3 warning signs for AUTO1 Group (2 make us uncomfortable) that you should be aware of. If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data