DOT Final Rule Says Biden-Era Fuel Standards Misused Law, Paves Way for Rollback
The U.S. Department of Transportation issued a final
Transportation Secretary Sean Duffy said the rule corrects what the department calls an 'illegal regulation' and affirms its authority to reset how Corporate Average Fuel Economy, or CAFE, standards are set. While the rule doesn't change current requirements, it clarifies how NHTSA will interpret its legal authority in future rulemaking.
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Yahoo
an hour ago
- Yahoo
Virtual Care Firm Omada Health Leverages GLP-1 Trend For $150 Million NASDAQ Debut
Omada Health, Inc. (NASDAQ:OMDA) closed its first day of trading at $23 per share on Friday, a 21% jump from the IPO price of $19 per share. On Thursday, Omada Health priced its initial public offering of 7.9 million at $19/share. The company filed its initial prospectus in May and updated the document with an expected pricing range of $18 to $20 per share. The company raised $150 million in its IPO. Reuters reported Omada Health's valuation hit $1.28 billion. Omada's revenue increased 57% in the first quarter of 2025 to $55 million from $35.1 million a year earlier, according to its prospectus. For 2024, revenue rose 38% to $169.8 million from $122.8 million the previous company's net loss narrowed to $9.4 million in the first quarter from $19 million a year ago. Omada launched its initial virtual program in diabetes prevention and weight health in 2012. The company delivers virtual care between doctor visits, providing an engaging, personalized, and integrated experience for members designed to improve their health while delivering value for employers, health plans, health systems, pharmacy benefit managers (PBMs), and other entities that cover the cost of programs. According to its S-1 filing, the company had 2,000 customers and more than 679,000 members enrolled in one or more programs as of 31 March. Omada says it has supported more than 1 million members since its launch. The company expanded its virtual care programs to target prediabetes, hypertension, and musculoskeletal conditions. The company estimates that about 20 million people have benefits coverage for one or more Omada programs. According to the company's S-1 filing, this represents about 14% of the self-insured insurance market, 9% of the fully insured market, 1% of the Medicare Advantage market, and 1% of the PBM market. Wall Street Journal, citing President Wei-Li Shao, writes that Omada leadership sees the current moment as the perfect time for an IPO, as GLP-1 drugs such as Ozempic, Wegovy, and Mounjaro have sparked a renewed focus on health problems that can stem from obesity. GLP-1s are expected to be a significant tailwind as more employers are rolling out reimbursement plans for the drugs, CEO Sean Duffy told WSJ. Omada, which signs contracts with employers to offer as a benefit to their workers, aims to be a complementary service that helps patients navigate taking GLP-1s. Omada's IPO is the second digital health IPO in weeks following an extended drought for the industry. In May, digital physical therapy startup Hinge Health Inc. (NYSE:HNGE) debuted on the New York Stock Exchange. Hinge Health priced its IPO of 13.7 million shares at $32 per share. Price Action: OMDA stock is trading lower by 0.43% to $22.90 premarket at last check Monday. Read Next:Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Virtual Care Firm Omada Health Leverages GLP-1 Trend For $150 Million NASDAQ Debut originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Miami Herald
6 hours ago
- Miami Herald
Senate Moves to End Fuel Economy Fines That Hit Automakers Hardest
Senate Republicans have proposed ending fines for automakers not meeting Corporate Average Fuel Economy (CAFE) rules as part of President Trump's "Big Beautiful Bill." CAFE fuel economy standards have been active since 1975, with the initial penalty at a $5 fine per 0.1 mpg below the standard, multiplied by the number of vehicles sold in the US market. In 1997, this fine increased to $5.50, and today, the penalty is $14 per 0.1 mpg below the standard, with some automakers significantly more affected than others. Stellantis has paid the highest amount of recent fines, including $156.6 million for the 2016 and 2017 model years, a record $235.5 million for the 2018 to 2019 period, and $190.7 million for the 2019 and 2020 periods. General Motors (GM) paid $128.2 million in penalties for 2016 and 2017. In 2001, BMW paid a $27 million CAFE fine. If Congress doesn't change CAFE rules, GM, Ford, and Stellantis are projected to pay over $10 billion in penalties from 2027 to 2032 under stricter regulations set by the Biden administration, according to Transport Topics. Senate Republicans also proposed lowering emissions requirements, ending the $7,500 electric vehicle (EV) tax credit, imposing a $250 annual EV registration fee, and phasing out EV battery production tax credits in 2028. Tesla earned almost $2.8 billion last year by selling regulatory credits to other automakers, helping competitors meet government-established car emissions rules, many of which are in California. Competitors who don't manufacture enough zero-emission vehicles face steep fines if they don't purchase regulatory credits from Tesla. If rolled back, new emissions requirements would save automakers $200 million, Reuters reports. The Transportation Department also declared that former President Biden's administration exceeded its authority by assuming a high EV adoption rate in calculating fuel economy rates, increasing the likelihood of looser CAFE standards. Under President Biden, 2027 to 2031 model-year passenger cars faced a 2% annual fuel economy increase requirement, with trucks subject to a 4% increase. However, new final rules would keep the 2027 to 2031 passenger car fuel economy at 2% while lowering the annual increase for trucks from 4% to 2% for 2029 to 2031 models. However, separate legislation may eliminate CAFE fines altogether. Automakers could still face tailpipe emissions rules established by the Environmental Protection Agency (EPA), even if Congress eliminates CAFE fines. While Congress can overturn EPA rules, its most recent CAFE proposal doesn't impact EPA penalties. As of 2025, automakers are subject to EPA penalties up to $45,268 per non-compliant vehicle or engine, $4,527 per tampering event or sale of defeat device, and $45,268 per day for reporting and record-keeping violations. If passed, Congress's proposal could significantly shape the U.S. EV adoption rate in favor of lowering immediate costs for legacy automakers. "We are making vehicles more affordable and easier to manufacture in the United States. The previous administration illegally used CAFE standards as an electric vehicle mandate, raising new car prices and reducing safety. Resetting CAFE standards as Congress intended will lower vehicle costs and ensure the American people can purchase the cars they want," said current Department of Transportation Secretary Sean Duffy regarding Congress's proposal to end CAFE fines. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Digital Trends
a day ago
- Digital Trends
The week in EV tech: From sky-high dreams to ground-level drama
Welcome to Digital Trends' weekly recap of the revolutionary technology powering, connecting, and now driving next-gen electric vehicles. Buckle up, folks — this week we're taking off with a look at the futuristic dream of flying electric cars possibly gliding above U.S. roads sooner than you think. But before we get carried away, let's bring it back down to the bumpy road of present-day realities. Recommended Videos Even if you're mostly interested about the tech powering the electric vehicle (EV) revolution, it's become increasingly hard to avoid the politics around it: You guessed it, we're talking about this week's public feud between Tesla CEO Elon Musk and U.S. President Donald Trump. What does this have to do with EV tech? Well, quite a lot actually. For starters, the technology behind Tesla's Autopilot and Full-Self Driving (FSD) modes may return in the crosshairs of regulators: Despite the names, these are still driver-assist features that require active driver supervision, and until Trump's election, they had been under heavy scrutiny by safety regulators for several years. Last year, the National Highway Traffic Safety Administration (NHTSA) launched an investigation into 2.4 million Tesla vehicles equipped with FSD. Big questions remain about FSD's performance under adverse, yet naturally-occurring conditions such as fog, sun glare, rain, and snow. When Musk, who spent about $275 million to help elect Trump, was appointed to head a newly-created Department of Government Efficiency (DOGE), it raised more than a few eyebrows about his power and influence over the regulators who are supposed to oversee traffic safety, and therefore Tesla. It didn't help that the Trump administration followed Musk's recommendations and relaxed crash-reporting requirements put in place since 2021, while also relaxing rules to accelerate the deployment of fully-automated robotaxis. The Trump/Musk clash takes place just as Tesla is due to launch its robotaxi pilot progam in Texas later this month. While Trump is now threatening to pull billions of dollars in government subsidies and contracts from Musk's companies, it's unclear whether he might pressure the Department of Transportation to again tighten the regulatory screws on Tesla. What is clear is that Trump has never been a fan of electric vehicles and is already trying to end federal subsidies on EV purchases and leases. And while he had made a big deal about buying a bright red Tesla Model S back in March, Trump now says he wants to sell it. Back to the tech Meanwhile, Tesla is still required to respond to information and data requests from NHTSA regarding the safety of its robotaxis by July 1. And ultimately, it should come down to the performance of the technology. For Autopilot and FSD, Tesla has opted for less expensive navigational tech relying on multiple onboard cameras that feed AI machine-learning models. But especially for so-called adverse driving conditions, it's the more expensive technology relying on a blend of pre-mapped roads, sensors, cameras, radar, and lidar (a laser-light radar) which has received the nod of regulators. Waymo, the sole robotaxi service currently operating in the U.S., and Zoox, Amazon's upcoming robotaxi service, both use that blend of navigational tech. For its robotaxis, Tesla is said to have upped its game in terms of autonomous driving with its Hardware 4 (HW4) technology, which does include radar sensors and promises enhanced environmental perception. Will that be enough for Tesla to convince regulators, catch up with Waymo or compete effectively with Zoox? We'll have to wait and see. Flying cars In a recent edition, we noted that while consumer confidence about robotaxi technology is on the rise, most people also want more data before they hop into a self-driving vehicle. What about flying taxis? According to a recent survey by Honeywell, nearly all U.S. airline fliers, or 98%, said they would consider using a so-called electric vertical take-off and landing vehicle, or eVTOL, as part of their travel journey. But while the buzz around flying electric vehicles has mostly focused on air taxis— like Archer Aviation's Midnight, expected to fly athletes around the 2028 LA Olympics, or Joby's slick air taxi, backed by Toyota — one California startup is shooting for something a little more… driveable. Meet Alef Aeronautics, a Bay Area company that wants to put the 'car' back in 'flying car.' This week, Alef announced it has received over 3,400 pre-orders for its electric flying vehicle, the Model A — and get this: it's not a futuristic prototype gathering dust in a lab. Alef says production could begin by the end of 2025, or early next year. On the ground, the Model A operates like a low-speed electric car, complete with hub motors in the wheels and—wait for it—a real steering wheel. You can legally drive it at up to 25 mph on public roads, parking it in a normal garage like any other EV. It's refreshingly manual in an increasingly hands-free world. But when it's time for lift off, the steering wheel takes a backseat. For vertical takeoff and flight, the Model A transforms into a drone-like aircraft. Its cabin rotates sideways to create lift, and eight electric rotors—controlled by a flight system and joysticks—take over. No pedals, no yoke, just a bit of joystick magic (or autopilot, if you prefer). The Model A has already received the nod from regulators for test flights. While the $300,000 price tag won't fit everyone's budget, the company is clearly betting on a future where you don't have to choose between a car and a flying machine—you can have both.
