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Yahoo
2 days ago
- Business
- Yahoo
Europeans Are Talking About These Major Current Events That Are Barely Making Headlines In The US, And It's Illuminating To Step Outside Our US Bubble For A Sec
With so much domestic news flooding our feeds daily, it's easy to lose sight of the important events unfolding beyond the US borders. To help broaden our perspective, I've been compiling roundups of key European (and global) stories that locals felt Americans were overlooking. Given the positive response, I'm back with yet another follow-up — once again curating the top headlines myself and adding context on why they're significant. So, without further ado, here's a snapshot of some of the most impactful stories currently shaping Europe: of Chinese electric vehicle maker BYD fell 8.6% on Monday after the company announced major price cuts on 22 electric and hybrid models. The discounts — ranging from 10% to 34% — sparked fears of a renewed price war in China's crowded EV market. The stock slipped another 4% in Hong Kong on Tuesday. Despite the pullback, BYD shares remain up over 50% this year. Meanwhile, the company outsold Tesla in Europe for the first time last month. Why it matters: BYD's fast-growing global presence and undercutting of Tesla — particularly in Europe — highlight rising competition in the EV sector. While BYD doesn't sell cars in the US, its dominance abroad is reshaping the global market, pressuring American automakers to innovate faster and lower costs. Its investment in AI driving systems and vertical integration (including battery manufacturing) could also set new industry benchmarks. Source: BYD stock plunges following deep price cuts as EV sales surpass Tesla in Europe [Euronews] lower house of parliament has passed a bill to legalize assisted dying for adults with incurable illnesses — a landmark move that would allow people to take lethal medication under strict conditions. The vote (305 in favor, 199 against) sends the bill to the Senate, though a final decision could take months amid France's complex legislative process. The law would permit those suffering from untreatable pain to end their lives voluntarily, with oversight from medical professionals. Patients must be over 18, either citizens or residents of France, and deemed to be making the request of their own free will. While widely supported by the public, the bill has drawn criticism from religious leaders and end-of-life activists alike — the former warning of moral risks, the latter frustrated by delays. Why it matters: France's step toward legalizing assisted dying signals a profound cultural and ethical shift in one of Europe's most influential democracies. Though polls show widespread public backing, the proposal reopens long-standing tensions around bodily autonomy, the role of the state in life-and-death decisions, and how societies treat the terminally ill. The measure is framed as both a compassionate option and a safeguard-filled process, yet it has sparked fears — especially among religious communities — that the vulnerable could feel coerced. With other European nations already permitting assisted dying, France's decision will likely influence regional debates and heighten pressure on holdout countries like the UK. President Macron's openness to a referendum if Parliament stalls shows just how politically and emotionally charged the issue remains. Source: France's National Assembly adopts bill to legalise assisted dying on first reading [Euronews] Police in Liverpool swiftly released details about the suspect arrested after a car plowed into a crowd during a Premier League winners parade. The man was identified as a 53-year-old white British local. This early disclosure was unusual given UK legal restrictions on naming suspects but was intended to counter rampant misinformation and conspiracy theories spreading online, particularly after last year's Southport attack, where false claims about the suspect's identity fueled unrest. Experts praised the police for proactively filling information gaps to prevent harmful rumors and online disinformation from escalating into real-world violence. While such transparency is not always possible, this case highlights the importance of timely communication in today's fast-moving digital information environment. Why it matters: The police's decision to release suspect details quickly reflects a growing challenge for law enforcement navigating the complex interplay between transparency, public safety, and the rapid spread of misinformation on social media. In a digital age where rumors can quickly spark unrest, timely communication aims to undercut conspiracy theories before they take hold. This case underscores broader questions about balancing legal protections, privacy, and the need to maintain social trust in moments of crisis — issues that resonate across democratic societies confronting the impact of online disinformation. Source: Experts praise police for swift release of details about Liverpool crash suspect [Euronews] Chancellor Friedrich Merz issued unusually strong criticism of Israel's military offensive in the Gaza Strip, questioning the justification for the harm inflicted on civilians amid the fight against Hamas terrorism. Merz acknowledged Germany's historic commitment to Israel's security, but emphasized that crossing certain humanitarian boundaries must be addressed publicly. His remarks signal a possible shift in Germany's traditionally cautious stance toward Israel, especially as humanitarian groups warn of starvation in Gaza due to an ongoing aid blockade. Merz plans to discuss the offensive with Israeli Prime Minister Benjamin Netanyahu, underscoring Germany's desire to remain an ally while expressing limits to what can be tolerated. Meanwhile, voices within Germany's governing coalition are calling to halt weapons exports to Israel and rethink the country's "reason of state" on Israel's security. Why it matters: Merz's criticism marks a rare public departure from Germany's historically unwavering support for Israel, reflecting growing unease about the humanitarian impact of the Gaza offensive and Germany's role in the conflict. The shift highlights a broader debate within Germany about balancing moral obligations stemming from its Nazi past with contemporary human rights concerns and international law. As other Western allies — including the UK, France, and Canada — express similar worries, Germany's evolving position signals changing dynamics in European support for Israel amid one of the region's most contentious conflicts. This debate also underscores how historical legacies shape diplomatic responses differently, influencing how democracies navigate the tension between defending allies and upholding international humanitarian standards. Source: Germany's Merz blasts Israeli offensive in Gaza [Politico] Related: "I Am So Torn With What You Are Doing" — 11 Posts From MAGA Business Owners Who Are So Close To Getting It Charles III gave a rare royal speech from Canada's Parliament, stressing Canadian sovereignty during "dangerous and uncertain" times. While only briefly mentioning US President Donald Trump, whose trade war and border pressures loom large, Charles underscored cooperation and mutual respect between the two countries. He highlighted Canada's plans to strengthen its armed forces, enhance border security to combat fentanyl trafficking, balance immigration, and address domestic issues like housing and energy projects. The speech also reaffirmed commitments to Indigenous reconciliation. Royal historian Justin Vovk noted the speech balanced diplomatic tone with a firm assertion of Canada's independent identity on the global stage. Why it matters: This speech signals Canada's determination to protect its sovereignty amid rising US trade tensions without escalating conflict. Charles's endorsement of Canada's government policies sends a powerful message that Canada will assert its national interests while maintaining important alliances. The address marks a rare direct intervention by a British monarch in Canadian parliamentary proceedings, highlighting the ongoing evolution of Canada's identity as a sovereign nation navigating complex geopolitical challenges. It also sets a tone of cautious cooperation with the US despite strained relations under Trump's administration. Source: Key takeaways from King Charles's 'Speech from the Throne' in Canada [Al Jazeera] ministers convened in Brussels for a hearing on Hungary's rule of law under Article 7 of the EU treaty, amid mounting concerns over recent legislative moves by Viktor Orbán's government. Hungary's draft "Transparency of Public Life" law — which critics say grants sweeping powers to limit press freedom and civil society — and the ban on the Budapest Pride march — which allows fines and AI-based identification of participants — have drawn strong rebuke from 20 member states. These countries issued a joint declaration condemning the ban as a violation of EU fundamental values and calling for its reversal, warning that failure to comply could trigger full use of the EU's rule of law enforcement mechanisms. Hungary's EU minister dismissed the criticism as political hysteria. After seven years of ongoing discussions, EU ministers signaled growing frustrations and potential escalatory measures, but sanctions are unlikely without majority support. Why it matters: The dispute over Hungary's rule of law and LGBTQ+ rights highlights a deeper tension within the EU about balancing national sovereignty with shared democratic principles. As Hungary pushes legislation seen as curbing freedoms and targeting marginalized communities, the EU faces a test of its ability to enforce fundamental values without fracturing its unity. This ongoing standoff reflects wider challenges democracies confront when political leaders adopt increasingly authoritarian measures under the guise of legal reforms, raising urgent questions about the future cohesion and identity of the European project. Source: EU countries 'losing patience' as Hungary grilled on Pride march and rule of law [Euronews] than 800 UK lawyers, judges, and academics have called on Prime Minister Keir Starmer to impose sanctions on Israel over its actions in Gaza, accusing Israel of serious violations of international law, including war crimes and a risk of genocide. The open letter demands urgent British action to secure an immediate, unconditional ceasefire and unimpeded humanitarian aid to Palestinians. It also urges the UK to enforce International Criminal Court arrest warrants against Israeli leaders and reconsider trade ties with Israel. Signatories warn that Israel's ongoing breaches threaten the future of international law and risk unleashing global anarchy. With Gaza's death toll surpassing 54,000, the letter frames the UK's response as critical to upholding the rule of law and preventing further destruction. Why it matters: This unprecedented call from the UK's legal community highlights growing international pressure on Western governments to hold Israel accountable amid escalating violence in Gaza. It underscores the tension between diplomatic alliances and legal, moral responsibilities to prevent war crimes and protect civilians. How the UK responds could influence global efforts to uphold international law and shape future sanctions or interventions. The letter also signals a broader concern about the erosion of international legal norms, warning that ignoring such breaches risks destabilizing global order and enabling impunity for state actions worldwide. Source: More than 800 lawyers, judges call for UK sanctions on Israel over Gaza war [Al Jazeera] Related: 18 Major Global Events That American Media Is Ignoring Right Now, And Why They Actually Matter To Us new Chancellor Friedrich Merz announced that Western allies, including Germany, the US, the UK, and France, have lifted range restrictions on weapons supplied to Ukraine. This means Kyiv can now target Russian military positions deep inside Russian territory using long-range missiles, such as the US-made ATACMS and UK's Storm Shadow. Germany had previously resisted sending long-range cruise missiles like the Taurus, but Merz's statement signals a more hawkish stance. Russia condemned the move, warning it undermines peace talks and risks escalating the conflict. The announcement comes amid intensified Russian attacks and ongoing challenges to negotiate a ceasefire. Why it matters: Removing range restrictions on weapons supplied to Ukraine signals a significant escalation in Western support and a tougher stance against Russian aggression. What was once a cautious approach has shifted toward empowering Kyiv to target military positions deep inside Russia — an option previously off-limits due to fears of widening the conflict. This change heightens tensions and complicates prospects for a ceasefire, as Russia views it as a direct threat to its security and sovereignty. The move reflects broader challenges democracies face in balancing military aid with diplomatic efforts, testing how far they are willing to go to uphold international order without triggering wider confrontation. Ultimately, this decision shapes the trajectory of a conflict with profound regional and global consequences. Source: US, Europe lift 'range restrictions' on Ukraine missiles: Why it matters [Al Jazeera] European Commission has launched formal investigations into four major adult websites — Pornhub, Stripchat, XNXX, and XVideos — over suspected breaches of the EU's Digital Safety Act (DSA). The probe focuses on whether these platforms have failed to implement effective age verification measures and risk assessments to protect minors from accessing explicit content. While Stripchat has been removed from the list due to insufficient user numbers, the others remain under scrutiny for lacking adequate safeguards. The commission aims to ensure the online environment is safer for children and is developing an age-verification app to support this effort. Why it matters: This investigation highlights growing efforts across the EU to hold online platforms accountable for protecting young users from harmful content. With children spending increasing time online, establishing robust safeguards against early exposure to adult material is seen as critical for their mental and physical well-being. The DSA's enforcement represents a broader push toward greater digital responsibility and regulation, setting new standards for how platforms must balance accessibility with safety. These developments reflect global challenges in regulating internet content and safeguarding vulnerable populations in an era of rapid technological change. Source: European Union investigates four major porn sites under bloc's digital rules on child protection [AP News] former president Ilir Meta has been formally charged with corruption, money laundering, tax evasion, and concealing assets. The charges come from SPAK, a special anti-corruption body backed by the EU and US. Meta, who was arrested last October, denies wrongdoing and claims the case is politically motivated, calling SPAK a tool of Prime Minister Edi Rama. Meta's ex-wife, a former party leader, and two others also face charges. If convicted, Meta could face up to 12 years in prison. Once one of the country's most powerful politicians, Meta is accused of abusing his position for personal gain and failing to disclose hundreds of thousands in US lobbying expenses. Why it matters: Meta's indictment marks a high-profile test of Albania's fragile rule-of-law reforms as it seeks EU membership. Corruption has long undermined trust in Albanian institutions, but SPAK's pursuit of elite figures — now including two former presidents — signals a shift. For a country trying to shed its post-communist legacy, the willingness to prosecute a political heavyweight like Meta could redefine the boundaries of accountability and transparency in the Balkans. Source: Albanian ex-President Ilir Meta charged with corruption and money laundering [AP News] Georgescu, a far-right Romanian populist who shocked the country by leading the first round of last year's presidential election, has announced he's withdrawing from political life. Though he didn't win the presidency — and was ultimately barred from the election's rerun after allegations of campaign violations and Russian interference — his rise unsettled Romania's political establishment. Georgescu, who praised fascist-era leaders and questioned Ukraine's legitimacy, remains under criminal investigation for incitement and ties to fascist ideologies. Once backed by prominent nationalist figures including Elon Musk and US Vice President JD Vance, he now says the "sovereignist movement has come to a close." Why it matters: Georgescu's rise and fall highlight the vulnerabilities facing even NATO and EU democracies amid viral populism and foreign interference. His campaign — driven by online fervor, zero disclosed spending, and messaging sympathetic to Putin — gained traction in a country once viewed as firmly pro-Western. That American leaders backed him despite his extremist ties and alleged Russian support reveals deepening ideological fractures within democratic alliances. At stake is not just Romania's political future, but a broader reckoning with how democracies confront populist disruption and election meddling. Source: Far-right candidate Calin Georgescu, who upended Romanian presidential race, withdraws from politics [AP News] Dutch lawmaker Geert Wilders, long known for his anti-Islam and anti-migration rhetoric, has unveiled a sweeping 10-point plan to drastically reduce immigration in the Netherlands. His proposals include deploying the military to secure borders, blocking all asylum claims, halting family reunifications for refugees, and deporting migrants convicted of certain crimes. Wilders' Party for Freedom won the largest share of seats in the 2023 Dutch election, but has struggled to push through its hardline agenda as part of a fragile four-party coalition. Now, Wilders is threatening to pull his party from the Cabinet if tougher migration controls aren't adopted. Why it matters: The Netherlands — known for its liberal values and internationalism — is now governed by a coalition that includes a far-right party with explicit goals to roll back asylum protections and exit parts of European law. Wilders' ultimatum underscores a broader shift in European politics, where far-right parties are moving from the fringes to the center of power. As the EU contends with increasing migration pressures and rising populism, the Dutch case could become a bellwether for how mainstream institutions either resist or absorb nationalist demands — reshaping the continent's political landscape in the process. Source: Anti-Islam lawmaker Geert Wilders unveils a 10-point plan to slash migration in the Netherlands [AP News] Olmert, Israel's former prime minister and a longtime figure in the country's political establishment, has accused the Israeli government of committing war crimes in Gaza. In a striking op-ed, Olmert denounced the ongoing military campaign as "a war without purpose" and described its toll on civilians as "monstrous." While once a defender of Israel's wartime conduct, Olmert now says the scale and intent of recent operations — marked by indiscriminate killing and a lack of clear objectives — cross a moral and legal line. His comments, echoed by a former army deputy chief, have drawn fierce backlash from the current government, including accusations of treason. Why it matters: Public criticism of Israel's Gaza offensive from within its own top leadership ranks — especially a former prime minister from the ruling party — marks a rare and consequential rupture. As international scrutiny of the war grows, Olmert's shift from staunch defender to vocal dissenter could lend weight to legal and diplomatic efforts to hold Israel accountable. His comments also expose a deepening rift in Israeli society over the war's purpose and conduct, complicating both the government's narrative and its legitimacy on the global stage. Source: Former Israeli PM Ehud Olmert says his country is committing war crimes [The Guardian] major mafia syndicates — including the Sicilian Cosa Nostra, Naples' Camorra, and Calabria's 'Ndrangheta — are increasingly setting aside turf wars to collaborate on drug trafficking, prostitution, money laundering, and infiltration of public works projects, according to the country's annual anti-mafia report. These once-feuding groups are leveraging encrypted technologies and global financial networks, such as Chinese underground banking systems, to coordinate operations and avoid detection. Authorities also warn that mafia organizations are exploiting Italy's EU-funded Recovery Fund projects, the planned bridge linking Sicily to the mainland, and preparations for the 2026 Winter Olympics. Why it matters: This quiet but strategic shift among Italy's most powerful criminal networks reflects how organized crime is adapting to globalization and the digital age. By prioritizing collaboration over conflict, these groups are embedding themselves deeper into both licit and illicit economies, from major construction projects to international finance. The implications go beyond Italy: it's a warning about how transnational criminal syndicates can evolve to undermine democratic infrastructure under the radar, often beyond the scope of conventional law enforcement. Source: Italy's mafia abandoning rivalries to join forces, report says [Reuters] President Emmanuel Macron has denied reports of a domestic dispute after a viral video showed his wife, Brigitte Macron, appearing to push him as they disembarked a plane in Vietnam. The brief clip, captured by a press photographer, sparked widespread speculation, fueled further by Russian state media and French far-right accounts framing the moment as evidence of tension. Macron dismissed the incident as playful banter between the couple, emphasizing that such moments of joking are common for them. The episode reflects how easily lighthearted interactions can be weaponized amid broader geopolitical and domestic tensions, especially with Russia's ongoing efforts to sow discord in Western democracies. Why it matters: This episode shows how easily simple, everyday moments involving public leaders can be turned into political drama or propaganda. When a brief, playful interaction between Macron and his wife is spun into a story of conflict, it reveals how foreign media and political groups exploit such clips to push their own agendas. This matters because it can distract from real issues and feed distrust in leaders at a time when clear communication is essential. It also reflects the broader challenge of navigating misinformation and the impact it has on how people see their governments and public figures. Source: Emmanuel Macron says video of wife pushing him shows them 'joking around' [The Guardian] Were any of these stories new to you? Share your reactions and thoughts in the comments below. And while you're at it, let me know what regions or topics should we explore next! Also in In the News: An Ad Against Far-Right Voters Is Going Viral For Being Both Terrifying And (Kinda) Accurate Also in In the News: Miss USA's 2024 "National Costume" Has Been Revealed, And It's Obviously An Interesting Choice Also in In the News: One Body Language Expert Spotted Something Very Telling When Donald Trump "Held His Own Hand" At His Recent Press Conference
Forbes
3 days ago
- Automotive
- Forbes
How Jordan Became A World Leader For Electric Vehicles
Almost all cars are imported to Jordan through the free trade zone. This doesn't change the taxation of the car, but means that the importers don't pay company tax – and that the figures from here are the most realistic for the car market. And they show remarkable figures; in 2024 65% of new cars in Jordan were electric. This is the second highest share in the world, behind renowned world leader Norway with above 90%, but ahead of Iceland at just over 60% and well ahead of other countries often considered leaders such as Denmark, the Netherlands and Sweden. EV market share in Jordan, compiled by EV King EV King & Mattias Goldmann The modest sized Kingdom of Jordan may be best known for its majestic tourist sites, but it also represents 45% of all EV sales in the Middle East, easily surpassing the United Arab Emirates with a 13% share. For the first four months of 2025, the EV share of new car sales is slightly down, meaning that it will be a tight race with Iceland when it comes to keeping the second highest share in the world. Even though the EV boom is recent and cars stay on the road for many years in Jordan, EVs are now a common sight on the streets of Jordan. And if you want an Uber quickly, you'd better ask for an EV since they are the most common, as well as the cheapest choice. Electric taxis in Jordan Mattias Goldmann According to Cita EV, the Jordan electric vehicle market is expected to have a compound annual growth rate of 35%, with 65% of Jordanian car buyers considering EVs for their next purchase. The transition will create over 5,000 new jobs across various sectors, from charging infrastructure installation to maintenance services, and the charging infrastructure market alone is expected to reach $75 million annually by 2028. With direct subsidies for EV purchases, reduced interest rates on EV loans or other additional measures, EV ownership will increase even more rapidly, especially in the middle- and low-income household segments. The best selling EVs in Jordan are Volkswagens, BYDs, Hyundais, Kias, Nissans and the cheap Changan, almost all of them produced in China. There is talk about local assembly in Jordan, but the lack of expertise and tradition has until now proved a hindrance. For commercial vehicles the shift has been less forthcoming, since the registration tax is not as beneficial, but things are starting to happen. Jordan Post is switching to electric light trucks and Amman's nascent Bus Rapid Transit system is planned to have e-buses already this year. Ahmad Abu Raddad, CEO of EV King and the former chairman of the now disbanded EV Association of Jordan, told me in an interview to three reasons for the EV success of Jordan: First, petrol prices are the highest in the Middle East, at around $1.3 per liter. This poses a heavy burden for households who may easily spend a third of their income on fuel – particularly since public transport is not sufficiently developed for people's needs. Hence the interest in electric cars, which according to the volunteer-run environmental data hub EcoMena, reduces fuel costs by 73 % corresponding to $1,900 per year for the average driver, who may have a monthly salary of around $700. Gains are obviously much bigger for the many shared taxis and ride-hailing drivers who drive very long distances. The gains will now increase further with the Time of Use electricity tariff, which was launched on July 1, 2024. For households, this makes charging at home cheaper during off-peak hours between 5 am and 2 pm, when the price is only $0.151/kWh compared to $0.226/kWh during peak evening hours (5 pm to 11 pm). Most EV owners in Jordan rarely charge at public chargers, but when they do the fixed price of $0.28/KWh is significantly lower than elsewhere in the world. The prices and correlation with petrol remains over time, since prices of electricity and fuels are decided by the government. Roadside charging in Amman, Jordan Mattias Goldmann Secondly, the registration tax is very high on petrol and diesel cars; 92% of the estimated sales prices. When the registration tax was set to zero for the electric cars, EVs became very profitable to buy. But the government lost an important source of revenue, so in 2019 it was raised to 10%, and late 2024 it was quadrupled. Then the market collapsed. EV King and other retailers decreased their sales by 90% and many went out of business. So it was dropped again, now with three different levels depending on what the EV costs: 'While these measures may result in a short-term decrease in government revenue, the long-term economic advantages will drive the national economy toward sustainable growth' In addition to benefitting buyers with relatively modest income levels, the tiered taxation puts pressure on the car manufacturers and importers to price their vehicles in the lower tax sections. This pressure downwards will only increase as the taxation goes up, as the taxation differences become more pronounced. As emphasized by Jordanian EV expert Samer A. Zawaydeh at the AEE conference in Paris, this is now combined with microfinancing schemes with loans of up to $35 000 for the purchase of EVs, enabling low-income households to go electric. Thirdly, and particular for Jordan, almost all households with a car also have their own parking and every new housing needs to come with at least one parking space. In a European context, this would be seen as unhelpful for the environment, since it reduces the attractiveness of public transport. Public transit is not really a realistic alternative in Jordan at the moment. Instead, this parking requirement means that home charging becomes very easy. Since labor is cheap, installing a charger only costs around $150, and the actual charger is often given by the car company. Another factor, more difficult to judge in terms of importance, is that several ministers in the government drive electric cars, as does the municipality of Amman. While the Royal Automobile Museum houses an impressive collection of petrol-powered supercars, the Queen actually drives electric too. While many countries increasingly focus their attention on the charging infrastructure, Jordan has focused its incentives on the vehicles, believing that if there is sufficient vehicle demand, chargers will be established. This largely seems to hold true, with a fast-growing charging net in all corners of the country, which by its fairly modest size can be covered by relatively few fast chargers. The distance between the capital of Amman and the main port of Aqaba is 330 kilometers, with 14 locations with EV chargers along the way – even though most modern EVs can go the full distance without charging. In principle, every new gas station must also offer public charging, but many EV drivers I spoke to prefer the new stations dedicated exclusively to EVs. Many of them are open 24/7 with an average charging capacity of 160 kW, meaning that a modern EV can charge in just 20 minutes. Jordan's Ministry of Energy and Mineral Resources has an innovative program to integrate renewable energy with EV charging infrastructure, with 20 charging stations along major highways powered entirely by solar energy. For vehicle maintenance, it's another story – many small-scale garages in Jordan do not have the equipment or expertise needed to properly and safely service the EVs, and safety-driven concerns on the need to inspect used EVs has thus been seen as a hindrance for the market to grow. Around 150,000 EVs now ply Jordan's roads, using 350 GWh of electricity annually. Had these cars been petrol-powered, annual emissions would have been 652,000 metric tons of CO2 – now they are reduced by more than three quarters to just 162,000 metric tons. The climate gain will increase year by year as both the number of EVs and the share of renewable electricity increases, with the target of generating 50% of electricity from renewable sources by 2030. In fact, the new incentives to charge off-peak also increases the competitiveness of solar energy since the electricity consumption will better align with the availability of sunlight. This will help Jordan reach climate net neutrality by 2050, in line with how EV growth reduces emissions on a global scale. Air quality will obviously also improve, a key concern in Jordan's hilly capital Amman where emissions get trapped and are exacerbated by dust storms, and where the urban heat island effect can be very pronunced. There are now intense discussions around the proposal of a 'green zone' in Amman, where only EVs would be permitted to operate, which would improve air quality and promote sustainable mobility. Whether this particular initiative will materialize remains to be seen, but even without it Jordan is positioning itself as the unlikely runner-up in electromobility after Norway, with great relevance for countries around the world. I consider myself well versed in terms of the markets and trends for electric vehicles, it's both my job and my interest. But I was unaware that Jordan has the second highest share of new EVs in the world - and I have yet to meet anyone outside of Jordan that wasn't surprised. Whilst Norway, the well-known global leader in EVs, may be seen to be of limited relevance for many since its economy is so developed, the success of Jordan poses a relevant question for many: If they can, why can't we? Mattias Goldmann
Wall Street Journal
4 days ago
- Automotive
- Wall Street Journal
Li Auto Posts Profit Rise, Slightly Higher Revenue
Li Auto's LI -1.20%decrease; red down pointing triangle net profit in the first quarter was better than expected but it guided for softer revenue growth ahead as it continues to face tough competition in China's overcrowded EV market. Net profit rose 9.7% to 650.3 million yuan, equivalent to $90.4 million, the Beijing-based automaker said Thursday, beating the 488.3 million yuan consensus estimate in a Visible Alpha poll. Revenue for the quarter edged up 1.1% to 25.93 billion yuan, just slightly ahead of analysts' expectations of 25.28 billion yuan. The company sold 92,864 vehicles during the period, in line with guidance of 88,000-93,000 vehicles. Its gross margin was virtually unchanged at 20.5% from 20.6% a year ago, and a tad higher than 20.3% in the fourth quarter. The Chinese automaker's American depositary receipts fell about 1.4% in premarket trading after the results. For the second quarter, Li Auto said it expects to deliver between 123,000 and 128,000 vehicles, and post revenue of 32.5 billion yuan to 33.8 billion yuan, up 2.5% to 6.7% from a year earlier. The results and tepid outlook come as the company continues to face stiff competition in its home market. Known for premium plug-in hybrids, Li Auto is one of a handful of profitable Chinese EV makers. Write to Jiahui Huang at
Bloomberg
6 days ago
- Automotive
- Bloomberg
The Republican Assault on EVs Is Almost Complete
Electric vehicles are built mainly with carrots and sticks. Republicans have now moved to take away both, with a tax bill rescinding EV credits and a Senate maneuver to overturn California's power to ban gas guzzlers. Together, they deal an enormous blow to a US electric vehicle market that was struggling already — but also to US autos as a whole. Sales of EVs, including plug-in hybrids, almost quintupled during the first three years of former President Joe Biden's administration, according to figures from New AutoMotive, a UK-based research firm. That slowed sharply in 2024, however. Despite an EV price war, the choice of models was limited and skewed toward the luxury end, keeping them at a premium to traditional vehicles. Poor public charging and range anxiety persisted as problems. Also, Elon Musk's decision to push the Cybertruck rather than a cheap new Tesla Inc. model, and join President Donald Trump's election campaign, dented the brand accounting for half the EV market.
Bloomberg
6 days ago
- Automotive
- Bloomberg
Xiaomi First-Quarter Sales Beat Estimates on EV, Phone Growth
Xiaomi Corp. reported better-than-expected revenue in the March quarter as it moves to aggressively expand its presence in China's EV market and grow its core smartphone business. Revenue reached 111.3 billion yuan ($15.5 billion), beating the average analyst estimates of 109 billion yuan. The company recorded 75,869 deliveries of its SU7 electric vehicle during the period.
