It’s hard to believe, but it’s been over 100 years since electric vehicles first made their appearance on the streets. Sure, they disappeared almost as quickly as they arrived, but here we are today, witnessing their dramatic comeback. Over the past decade, EVs have evolved in leaps and bounds, bringing us to a question we can’t help but ask: which of these modern electric rides will one day be considered collectible in, say, 20 years from now?

To be clear, there are a few rare and historic EVs that already have their place in the collectible world. Jay Leno, for instance, famously owns a 1909 Baker Electric, which he’s even gone so far as to upgrade. But aside from these niche classics, the broader EV market isn’t exactly seen as a treasure trove for collectors, at least not yet. But who knows? Maybe the next wave of electric vehicles will change that.

More: Can Tesla’s Model 3 Performance Smoke The BMW M3 CS?

The original Tesla Roadster 2.5 that kicked off things for Elon Musk’s brand could be a prime example. While it’s easy to point out its shortcomings, from range anxiety to questionable build quality, the Roadster was undeniably ahead of its time. It played a pivotal role in kick-starting the EV revolution, and without it, the Model S, and arguably the entire Tesla brand, may not have existed. It may not have been perfect, but it was a game-changer.

And while we’re talking about Tesla, let’s not overlook the other contenders that could one day find themselves in the collectible spotlight. The Model S, for one, completely shattered preconceived notions about what an electric car could be.

Then there’s the Model Y, Tesla’s best-seller, which has arguably played the most significant role in broadening EV adoption worldwide. And let’s not forget the Cybertruck. Love it or hate it, its design makes it impossible to ignore, cutting through a sea of otherwise similar-looking vehicles.

Of course, it’s not all about Tesla. The Nissan Leaf deserves a mention as one of the most influential EVs in shaping the electric car market, especially for those seeking an affordable option. The Rivian R1T was the first all-electric pickup truck. The original Porsche Taycan might be the first sign to everyone that even huge historic brands were willing to ditch internal combustion to one degree or another.

If I personally had to pick one, it would be the Hyundai Ioniq 5 N. It seems poised to go down in history as the first EV to truly mix in a boatload of driver engagement along with supercar-like performance. Looking back through history, those two factors rarely come together in a EV that the general public can actually afford. That’s what makes the 5 N so special.

And while some traditional gearheads might scoff at the very idea of electric cars ever being collectible, let’s not forget that there’s a new generation on the horizon. This group won’t have the same hang-ups. They’ll have grown up with electric vehicles as the norm and they won’t carry the same biases against them.

Do you agree with anything we’ve mentioned here? Perhaps you have another car to submit. Let us know in the comments below!

When it comes to testing high-profile vehicles, sometimes things go terribly wrong, and in the case of Edmunds’ Tesla Cybertruck, ‘terribly’ is putting it mildly. In July 2024, the outlet shelled out $101,985 for a brand-new Cybertruck Foundation Series to add to its One-Year Road Test fleet. By December 11, the truck was struck by a compact sedan while parked, pushing the 6,600-pound electric vehicle onto the curb. The damage was severe enough that it was written off entirely.

More: Tesla’s Cybertruck Rebranding Looks A Lot Like Ford’s F-150

On the outside, the wheel, tire, stainless steel panel and bumper bore the brunt of the impact. Things were much more serious under the skin though as, apart from the suspension, the rear drive motor, the rear-wheel steering setup, and lots of other parts were wrecked. No doubt, it was in a very sorry state, but things weren’t exactly peachy before the crash either.

Early Troubles: A Red Flag Parade

In fact, problems began soon after Edmunds took delivery of its Cybertuck and they included a number of critical steering failures, the EV going on limp mode or dying altogether, lots of errors showing up on the screen, the a/c not working on hot days, the transmission not selecting Park… you get the picture.

Definitely not confidence-inspiring for a $100k truck, no matter how hyped up it might be. In fact, the issues were so many they didn’t allow the team to perform its usual instrument testing procedure or even take it off-road.

The Great Repair Odyssey

Nevertheless, what spelled its demise was the aforementioned accident and attempts to get it fixed. Body shops dared not touch the Cybertruck, so their only recourse was Tesla‘s own service network. Problem number one: while one would expect Los Angeles, the city with the most Cybertrucks in the world, to have quite a few, there were just two within a 50-mile radius that were certified by Tesla to fix the EV’s steel body panels.

The first one, in Huntington Beach, gave them a one-month waiting period just to get an estimate on how much repairing it would cost. That was not all, though; they had to wait another six months for it to get fixed, which meant towing it to the shop to get an estimate, then towing it back and storing it somewhere, and finally towing it back again to get it back in working order. Naturally, Edmunds declined the offer.

More: Fisker Ocean Totaled After Tiny Door Ding Souring EV Dream

Things were much better at the second certified service center in Ontario. They still had to wait a month for an estimate, but after that the shop would instantly start working on the truck. So far, so good – until Tesla called a few days before the appointment and informed them it was pushed back a month due to the shop being overbooked.

Cybertruck Repair Costs

• Stripes and moldings: $619
• Motors and components: $4,191 (including $3,000 for an EV drive unit)
• Motor mounts: $77
• Wheels and parts: $1,758
• Steering: $2,040
• Rear suspension: $9,149 (including $2,500 for a new suspension crossmember)
• Cab and components: $3,800 (including $3,240 for a high-strength steel frame)
• Bed: $8,762.79 (including $1,595 for the outer panel, $4,280 for the aluminum rear section and $1,055 for the bed floor)
• Tailgate: $2,495
• Rear bumper: $2,417.73
• Rear body, lamps and floor plan: $1,668.50 (including $800 for the inner taillamp assembly)
• Miscellaneous parts: $357.22
• Other parts: $5
• Paint and materials: $610
• Tax on parts and materials: $3,320.65
• Labor: $16,584
• Sublet repairs: $25
• Grand total: $57,879.89

This time they decided to wait and, two months after the accident, had an estimate: it would cost them $1,128 to disassemble the truck and find out what had to be replaced or repaired. The quote, though, was a very unpleasant surprise; all in, they had to pay exactly $57,879.89.

The list of things that had to be fixed was too long, and the single most expensive item on it was the rear suspension at $9,149. Given that an example without prior damage was valued at $86,160, so theirs would sell for much less, it made no financial sense to proceed with repairs and it was considered a total loss.

The Final Blow

In the end, the outlet sold their Cybertruck to Copart for… $8,000! The only positive thing was that it received praise for its performance and ride comfort, as well as the design that, while controversial, at least (or rather because of it) drew a lot of attention. Other than that, not only did it not get to take part in the One-Year Road Test, but it became Edmunds’ biggest loss ever, a title that until then was held by the Fisker Ocean.

Lead image Edmunds

With so many modern cars feeling like clones of each other, featuring similar designs and often identical powertrains, it’s only normal that we’d get excited when something really different comes along. But in the case of Slate’s new EV, is that lust for the new is at risk of creating a real Emperor’s New Clothes situation?

If you haven’t seen our report on the Slate’s debut you should check out our original story at the link below this paragraph. But here’s the tldr: Slate is Michigan-based startup backed by Amazon’s Jeff Bezos that wants to sell affordable electric utility vehicles.

They’ll cost from $27,500 ($20k after federal tax credits) and a modular design means you’ll be able to turn the two-seat truck into a two-row SUV or an SUV with a coupe back or open roof with an add-on pack.

Related: Slate Shakes Up EVs With $28,000 Pickup That Turns Into An SUV

Both of those are real selling points. Most of the few electric utilities around, like Rivian’s R1S and R1T and those coming soon from Scout, cost over $50k putting them out of the reach of many American buyers. It’s great to see an automaker building a simple, no-frills truck that doesn’t cost the earth and doesn’t take up two parking bays, and the ability to switch between pick-up and SUV configurations really adds to the practicality.

Small price, smaller equipment list

But a ton of compromises have been made to hit the sub-$30k price. Most obviously, the list of standard equipment makes a Dacia look like a Maybach. There’s no touchscreen – which is not necessarily a bad thing, because we’ve all got smartphones and it means you get physical rotary controls for the AC.

But there’s not even any kind of stereo/speakers fitted as standard to play music from your phone. They’re optional, along with the wrap you’ll need to apply to change the body color since there are no paint options because there’s no paint.

More: You Can Buy This Pickup For $4K Less Than Slate’s EV And You Don’t Even Have To Crank Your Windows

And the crank windows? The internet went wild over this, but it’s a classic case of “brown, manual, diesel wagon” syndrome, and the fun factor will quickly wear off the first time you need to yell to your kids that they forgot their lunch box at school drop-off, or ask someone for directions through the passenger window because you’ve got no phone signal for Google Maps and there’s no onboard nav.

The 1,000 lbs (545 kg) towing capacity is also terrible for a utility vehicle, the 5 ft (1.52 m) bed length’s 0.5 ft (150 mm) advantage over a Ford Maverick comes at the expense of rear seats, and the lack of an all-wheel drive variant hurts its appeal to those who live in rural areas or get harsh winters. And the smaller of the two available batteries only has a 52.7 kWh capacity and gives a range of just 150 miles (240 km).

Short battery range

That range might be fine for a truck that never strays far from its home city, but we know from Mazda’s MX-30 sales failure that people don’t like EVs that can’t go far on a charge. And though you can pay for a bigger 84.3 kWh pack that’ll give you 240 miles (386 km), that’s probably going to push you well north of $30k (before credits), and by the time you’ve added the SUV top, a wrap, Bluetooth speakers and other personalization options your bargain truck isn’t going to be quite as much of a bargain.

I really want to get behind the Slate. I hate that cars have become so heavy and overcomplicated and this feels like the wheeled equivalent of my Suri toothbrush, which doesn’t have any fancy functions you never need like stupid Bluetooth apps, but is well built and lasts for weeks on a charge. Slate’s focus on simplicity, only giving us the stuff we need and none of what we don’t is refreshing, and one other automakers constantly adding pointless gadgets to get our attention could learn from.

Will internet praise equal sales?

But as Toyota discovered with the GR86, there’s a big difference between getting a bunch of people excited about the idea of a simple, pure-of-spirit vehicle, and getting them to actually buy it. Once the Slate launch dust has settled and the novelty of the crank windows and very bare, very plasticky interior and configurable roof (where are you gonna store it?) has faded and the trucks are available to buy, will Americans open their wallets?

Or will they decide that it’s simply too compromised, too basic and there are better options for similar money.

And maybe for less money if the EV tax credits advantage disappears (it’s already not available to all buyers). Those other options, like the $24k Ford Maverick with an aftermarket Leer truck cap for that SUV feel, aren’t stylish like Slate’s Truck, and they’re not electric, but they’re great products. And is anyone in America really crying out for an electric pickup right now, anyway?

Slate thinks it’ll sell 150,000 every year, and we hope it does, but how do you rate its chances? Is it a credible truck and really the game-changing bargain some people are making it out to be, or is it just massively over-hyped, still too expensive and about five years too early? Leave a comment and let us know.

If you have been paying even half-attention to the electric vehicle scene lately, you know that competition is heating up fast, with new challengers trying to swipe the crown from established players. We recently spent time behind the wheel of the Seres 5, a fully electric SUV from China with premium aspirations. However, besides the main review, we wanted to see how well it stacks up against its biggest competitor, the Tesla Model Y, so we organized a quick head-to-head comparison between the two.

The Seres 5 may have launched in Europe in 2024, but the Chinese version has been around since 2019. Unfortunately, at the time we had the Seres in our hands, Tesla was not offering test drives of the new Juniper in Greece, only the pre-facelift Model Y. Still, it makes for an interesting comparison, even if we have to keep in mind the changes introduced with the updated Tesla.

More: We Compare The 2026 Tesla Model Y Side-By-Side With Its Predecessor

Both EVs share similar dimensions and come with dual electric motors, all-wheel drive capability, and large battery packs. The Tesla boasts 51 kilometers (32 miles) of extra WLTP range, but the Seres fights back with 193 hp more power. You can check out the detailed specs in the table below.

QUICK FACTS

Design: The Seres 5 Looks More Intriguing

Looks are subjective, sure, but a comparison would be incomplete without a design face-off. Beyond the exterior styling, we also factored in the cabin, where the Seres quietly pulls ahead.

Both models merge crossover and coupe cues, aiming for a sweet spot between aerodynamics and practicality. Parked side by side, the Tesla Model Y simply looks less interesting. Blame it partly on the fact that it resembles a bloated Model 3, although Tesla did address that with the recent mid-lifecycle update. It also does not help that Model Ys have become about as common as pigeons in a park.

That said, the rear end of the Model Y still looks cleaner and more cohesive than the Seres 5’s. While the Seres will not win any beauty pageants, it turns more heads and looks a bit more premium. It could definitely borrow a few styling updates from the related Aito M5, but even without them, it feels fresher than Tesla’s overfamiliar form.

Inside, most new EVs have taken a page from Tesla’s playbook: a big touchscreen, minimal physical controls, and a focus on being “modern” by removing everything people actually liked about buttons. The Seres 5 sticks to that formula but executes it better, with nicer materials, thoughtful color combinations, and a stylish center console. Plus, it offers a digital instrument cluster and a heads-up display, which make it easier for drivers migrating from more traditional cars.

However, while standard equipment of the Seres is pretty generous, Tesla’s tech and interface feel more modern, thanks to the continuous over-the-air software updates.

Practicality: The Tesla Model Y Prevails

While the Seres 5 offers a fancier interior, the Tesla wins when it comes to space for both people and cargo. Despite its sloping roofline, the Model Y offers more rear headroom and legroom, making it easier to climb in and out.

More: Xiaomi’s Electric SUV Is Bigger Than New Tesla Model Y And Has More Range

Cargo space is also firmly in Tesla’s favor. Officially, the Model Y can swallow 29 cubic feet (822 liters) in the rear boot and another 4.1 cubic feet (114 liters) in the frunk. Tesla’s habit of measuring up to the roof inflates those numbers a bit, but the advantage remains clear.

The Seres 5 has a boot capacity rating of 13 cubic feet (367 lt), with the frunk contributing another 2.4 cubic feet (67 lt). In reality, the difference with the Tesla is not that huge, but it is noticeable. Overall, I found the Model Y to be more suitable for family use, especially if you add the convenience of the longer driving range and the faster DC charging capabilities (250 kW compared to 100 kW).

Ride Comfort: The Seres 5 Feels Like An Electric Grand Tourer

Driving the two EVs back to back made it clear that the Seres 5 has the most comfortable and refined ride. The plush suspension absorbs road imperfections in a nicer way than the Tesla which can feel harsh in comparison.

The Seres also has a smoother power delivery – especially in the EV and Comfort modes – rounding up it’s friendly road manners. Furthermore, the cabin of the Seres is a bit more quiet, although we didn’t get the chance to test both vehicles on longer journeys on the highway.

Driving Dynamics: The Tesla Is Sportier And Feels Faster (But Isn’t)

While the majority of EV buyers are not interested in sporty driving manners, we had to include this segment allowing the differences in the character of the two models to shine.

On twisty roads, you’ll have more fun in the Tesla than in the Seres. It’s steering is a more direct, and the chassis setup feels sharper than your average family-oriented SUV or crossover. The softer and comfort-focused suspension of the Chinese EV results in more body roll compared to the more balanced setup of its well-established rival.

More: Only Four EV Brands Are Profitable And Two of Them Might Surprise You

Another thing I noticed, is that despite being less powerful and slightly slower on paper (0-62 mph in 5.o seconds compared to 4.2 seconds), the Tesla feels quicker than the Seres, providing snappier acceleration from standstill. Thanks to all these and a more rear-biased AWD setup, the Model Y is more eager to be pushed, thus being the better option for spirited driving.

Pricing: It’s Hard To Beat The Tesla

In Greece, where we tested these cars, the facelifted Tesla Model Y Long Range AWD starts at €52,990 ($58,100), or €43,990 ($48,200) with incentives. Inventory models of the outgoing version can be had for even less, starting at €48,940 ($53,600).

Meanwhile, the Seres 5 costs €57,500 ($63,000) including incentives. This means the Seres commands a €13,510 ($14,800) premium over a new Model Y Juniper, with similar specs. The gap widens further if you consider the older inventory units.

Verdict: Tesla Keeps Its Crown… For Now

The Seres 5 is an impressive EV, especially when you consider that it is the brand’s first production model, but Tesla’s best-seller is really hard to beat in its own game. Our comparison showed that the Seres has a more comfortable ride and a nicer interior, but the Tesla is more practical, has sharper driving dynamics, and is significantly more affordable.

Overall, the outgoing Tesla Model Y still feels like a well-rounded option for prospective EV buyers. However, the competitive pricing of the updated Model Y Juniper makes it a no-brained, having corrected many of it’s predecessor’s flaws.

More: Tesla’s Q1 Deliveries Crash Harder Than Wall Street Expected

We’ll be eager to test more Tesla Model Y rivals from China in the future, although the biggest threat to the EV’s success appears to the global backslash against the company’s CEO, Elon Musk. This appears to be the main reason behind a significant decline in Tesla sales in Europe, with EV buyers turning their backs to the once-dominant brand.

Photos: Thanos Pappas for CarScoops

It is no secret that car values have been riding a rollercoaster lately, but some models have taken a particularly rough plunge. In the past year alone, a surprising number of popular vehicles have shed thousands of dollars in value, offering a clear look at changing market dynamics.

Read: This Car Loses 73% Of Its Value After Just Five Years

Four Tesla models are among the top 20 used cars in the United States that depreciated the most over the past 12 months. However, Tesla is hardly alone in this honor, as several other mainstream and premium brands, including Ford, BMW, Mercedes, Hyundai, Lincoln, and Genesis, have also seen significant price drops.

The team from iSeeCars recently analyzed the prices of 1.4 million used vehicles over the past year to determine which ones have been hit the hardest. At the top of the list sits the Tesla Model S, which depreciated by an average of 17.2 percent year-over-year, representing a fall of $9,944. As of March 2025, the average listing price for a Model S was $47,931. This, perhaps, is not much of a shock considering the electric sedan has been around for 13 years and Tesla has faced its share of public relations headaches in the last few months, adding to its woes.

A Closer Look at the Biggest Losers

Trailing just behind the Model S is the Porsche Taycan, which dropped by an average of $13,422 over the past year, or about 15.1 percent. Meanwhile, the Ford Explorer Hybrid saw its average price fall by 14.1 percent to $31,228, and the BMW 5-Series Hybrid was not far behind, dropping 13.9 percent to $34,375.

The second Tesla to appear on the list is the Model Y. The study from iSeeCars shows that prices of it have fallen by an average of 13.1% to $30,611. This places it two positions ahead of the Model 3 in eighth, with prices dropping by 10.9% to $26,084. In 17th position was the Model X, with reported average price falls of 7.3% to $55,990.

Used Cars With The Largest Price Drops

Other notable entries on the list include the Maserati Levante, down 11.5 percent, the Jeep Gladiator (-10.7 percent), the Kia Niro EV (-9.6 percent), the Volvo S90 (-9.2 percent) and the Chevrolet Corvette Convertible, whose price declined by 7.3 percent.

Worst Performing Brands

Tesla was named the brand with the steepest year-over-year declines in used car pricing. Across its lineup, its models lost an average of 10.1 percent in value over the past year, which translates to $3,541 on average. Chrysler followed closely behind, with an 8.9 percent drop, while Maserati, Genesis, Dodge, Buick, and Chevrolet also posted noticeable losses.

“In both the new and used car markets, Tesla prices have been dropping for over two years,” iSeeCars executive analyst Karl Brauer said. “Price cuts on new Teslas immediately impacted used Teslas, driving their prices down at a rapid rate. The new car price cuts were driven by Tesla’s desire to maintain sales growth, but that strategy stopped working last year when the automaker saw its first decline in annual sales.”

Brands With The Largest Used Car Price Drops

Huawei unveiled the Maextro S800 last year and now the company is giving us a peek inside its ultra-luxurious cabin. Unsurprisingly, it’s heavily inspired by Mercedes-Maybach and Rolls-Royce models.

Drivers sit behind an elegant two-tone steering wheel and find themselves looking at a ‘floating’ display that closely echoes the MBUX Hyperscreen. There’s no word on dimensions, but the EQS has a 12.3-inch digital instrument cluster, a 17.7-inch infotainment system, and a 12.3-inch front passenger display.

More: Huawei’s Maextro S800 Looks Like Someone Put A Maybach, A Rolls And A Porsche In The Blender

The Mercedes-like styling cues continue elsewhere as there are stylish metal speaker grilles that mimic Burmester units. They’re joined by familiar door-mounted seat controls.

Elsewhere, there are digital side mirror displays, a dual wireless smartphone charger, and a splash of wood trim on the center console. Designers also gave the car a stylish rotary knob as well as metallic accents. Buyers will also find a luxurious mix of leather and suede-like upholstery.

While the cockpit is nice, the rear passenger compartment is the star of the show. It features two individual rear seats with power adjustment as well as a foot rest. The front passenger seat also slides out of the way, so you can sit back and enjoy the ride.

The seats are separated by an elegant leather and wood console, which features deployable tray tables. It also sports an elegant champagne flute holder and a retractable drawer. We can also expect a refrigerated compartment as well as a rear seat entertainment system.

Above, there’s a starry headliner inspired by the Rolls-Royce playbook. They’re joined by door-mounted screens that echo those found on the BMW 7-Series.

The luxury barge will be launched later this year and measure 215.7 inches (5,480  mm) long with a wheelbase spanning 132.7 inches (3,370  mm). This makes the model 0.4 inches (10 mm) longer than the Mercedes-Maybach S-Class, although it has a 1 inch (25 mm) shorter wheelbase.

CarNewsChina reports the model is expected to be offered with an electric powertrain that features a 94.4 kWh battery pack. This should provide CLTC ranges of 416 miles (670 km) and 436 miles (702 km).

An extended-range variant is also said to be in the works with a smaller 63.3 kWh battery. It will reportedly offer electric-only ranges between 160 miles (258 km) and 193 miles (311 km).

Pricing reportedly starts at ¥1 million, which is the equivalent of $137,230. That’s not too shabby considering the Mercedes-Maybach S480 starts at ¥1.48 million ($203,100) in China.

BMW seems to be on a mission to cash in on the growing appetite for ridiculously expensive, limited-edition cars with a new halo model aimed at its performance division. And, it seems BMW M is finally tuning in to the demands of fans, who have long been begging for a modern version of the M1, blending the exotic appeal of the past with a contemporary twist.

More: BMW Scrapped A 95% Finished Supercar For The XM SUV

The news follows the announcement that the BMW Skytop concept from last year’s Concorso d’Eleganza Villa d’Este will soon enter production, with only 50 units expected and a rumored price tag of $500k. The success of this project has inspired BMW to roll out more similarly bespoke models, though this time, they’ll carry the M emblem.

A Future of Ultra-Limited Editions

Sylvia Neubauer, BMW M’s Vice President of customers, brand, and sales, shared some insight into the company’s future direction with AutoExpress: “BMW’s strategy is to have a series of small-series additions that we offer to the markets. There will be something coming at Villa d’Este this year, and probably some future small-series editions with the ‘M’ designation.”

When asked if this could include a bespoke BMW M model inspired by the original M1, Neubauer stated:

“Definitely, such halo cars clearly position the brand. They make it very, very desirable. They have that positive spillover effect on the brand and on the product portfolio. You’re making a certain customer group very, very happy with these dream cars. Even those that cannot afford the car admire the brand. This will be part of our future road map as well.”

A New M1, Sort of?

Several months ago, reports surfaced about BMW having worked on a spiritual successor to the M1, possibly with a plug-in hybrid powertrain. The I16 project was allegedly 95% ready when it was scrapped in favor of the controversial XM SUV. Other reports suggest that plans for a fully electric supercar were also cancelled after it reached the clay model stage.

More: Does BMW’s Electric M3 Concept Look Any Better Without Camo?

While we still don’t know if the upcoming bespoke BMW M car will have any ties to these canceled projects, the sighting of the Neue Klasse EV Coupe in testing suggests something special could be on the horizon. If the camouflaged prototype’s dramatic design is paired with the performance capabilities of BMW’s next-gen electric powertrain, we might just be looking at a true M1 successor, albeit one with a very different powertrain under the hood.

Baldauf

Competing with Porsche?

Neubauer was also asked whether the new model could compete with the Porsche 911, to which she replied: “That market obviously is an interesting market. But we also know that Porsche customers are very, very loyal to their brand. So if we do it, we definitely need to do it spot on—100 percent.”

This doesn’t exactly provide a definitive answer about the car’s design or character, but Neubauer did confirm that BMW M is “internally” working on a “dream car.” When asked about its launch timing, Neubauer added, “Let’s wait for the right time.”

With all these pieces falling into place, it’s clear that BMW M has something big on the way. Whether it’s an M1 revival, a fully electric supercar, or something else entirely, one thing is for sure: The wait will likely be worth it.

Tesla is rolling out a pair of what it hopes will be high-impact incentives. In an effort to drive sales before the end of Q2, it’s offering 0% APR financing on Model 3 and the return of Full Self-Driving (Supervised) transfers. Both offers are appealing on paper, but like most things Tesla, there are some strings attached.

The headliner here is the 0% APR deal, which is only available on the Model 3. Not the Model Y, not the S, not the X, just the entry-level sedan. Qualifying depends on options and tax incentives, but it appears to be available with $0 down in some states.

Read: Tesla Quietly Launches Robotaxi Rideshare App For Employees

It’s also capped at 60 months. That’s about $6,000 down (over the loan term) on the cheapest rear-wheel-drive Model 3, and you’ll also need top-tier credit to lock it in. Still, it’s a rare move in today’s high-interest environment, and one that could tip the scales for shoppers on the fence.

Also back, for a limited time: FSD transfers. If you previously bought Tesla’s Full Self-Driving beta package for anywhere from $7,500 to $12,000 and are thinking about upgrading to a new vehicle, you can bring that feature with you, no need to repurchase. There’s no word on when the deal will end, but we expect it won’t live into the third quarter, so interested parties will want to move sooner rather than later.

These moves, of course, come at a time when Tesla is navigating a tougher sales climate. Competition is getting better, opposition is getting fiercer, and tariffs could drive prices up more, too. Obviously, Tesla wants to clear inventory and keep customers inside the family with these deals.

While these two deals are good for those interested, they’re not the only ones we’ve seen in recent months. The new Model Y is available in China with 0% APR, and the old Model Y is the subject of massive discounts too. Even the opinion-splitting slab-sided Cybertruck is available for thousands off of MSRP right now. Clearly, Tesla knows it needs to move metal, and it’s doing all it can to achieve that goal.

Mercedes’ design department has been in a funk as for every hit, there’s multiple misses including the CLA, EQE, and EQS. However, another home run is on the horizon as the company appears to be teasing a sleek new sedan.

Mercedes-AMG isn’t saying much at this point, but they revealed “something big is coming” in June. The message was accompanied by a dark teaser image that shows a stylish sports car with a protruding nose and prominent headlights.

More: 2026 Mercedes-AMG GT 4-Door EV Is The Cure For Boring Jelly Beans

They’re joined by a rakish windscreen that flows into a dynamic roofline that continues almost all the way to the end of the car. We can also see muscular rear haunches and an expansive greenhouse.

While the company is playing coy, the performance brand appears to be teasing the redesigned GT 4-Door. Spy photographers have caught the model on numerous occasions, but it’s been heavily disguised so we weren’t expecting something quite so stunning.

The car is slated to go into production later this year and the company has previously confirmed it will ride on the “first dedicated electric vehicle architecture developed by Mercedes‑AMG.” It’s known as the AMG Electric Architecture (AMG.EA) and the model promises to be a “technological trailblazer, which will pioneer a number of new innovations.”

Details are few and far between, but the Porsche Taycan competitor is slated to have a high-performance battery as well as axial-flux motors. The model was previewed by the Vision AMG concept and rumors have suggested the range-topping variant could have around 1,000 hp (746 kW / 1,014 PS).

Baldauf 

There’s no denying that Slate Auto is turning a lot of heads right now. Their new truck, which can be optioned into a SUV, sounds promising as it strips away the excess in an effort to create an affordable, practical runabout. It even boasts an electric drivetrain to keep running costs low.

All sounds good, right? In theory, it’s an appealing prospect, but here’s the thing: what Slate is selling for the future (plus a whole lot more) is already available today in the form of the Ford Maverick.

Pricing: Promises vs. Reality

Let’s start off with its biggest selling point, the reason why the internet went wild in the first place: the price. The newly announced Slate pickup promises a starting price of “around $28,000,” but that’s far from set in stone. Assuming nothing changes, and that’s a tariff-sized assumption, if you factor in the $7,500 federal tax credit, the base price could theoretically drop to about $20,500.

But again, that’s all hypothetical. Given that the Trump administration has repeatedly suggested eliminating these credits, who knows what will happen in late 2026 when it supposedly hits the market.

More: Slate Shakes Up EVs With $28,000 Pickup That Turns Into An SUV

On the other hand, as you’re reading this, you can walk into any Ford dealership and drive off with a 2024 Maverick XL for $23,920. That’s for the 250-hp 2.0-liter EcoBoost four-cylinder-equipped model. Because it’s available and if you click on Ford’s page, that’s the model it directs you to. If you’re looking at the 2025MY, prices start from $26,995 for the 191-hp 2.5-liter hybrid FWD variant, and $27,570 for the 250-hp EcoBoost AWD. And that’s before factoring in any additional deals or potential incentives, plus delivery fees, of course.

Range and Efficiency

Now, let’s talk efficiency and range. Slate’s truck promises 150 miles of range in its base form, powered by a 52.7 kWh battery. No doubt, the optional 84.3 kWh battery, offering up to 240 miles of range, looks more promising, but it’ll cost you extra. According to the Detroit company, charging it will take somewhere between 4 to 8 hours.

For the sake of comparing base models, we’ve focused on the 2024 Maverick XL with the 2.0L turbo, which is the most affordable option you can buy right now. This base trim delivers 26 mpg according to the EPA. Meanwhile, the hybrid variant with a 191-hp engine can achieve up to 42 mpg combined.

And let’s not forget the convenience factor. You can fill up the Maverick at any gas station in America in about 3 minutes. No waiting around for hours as your truck “recharges,” praying that the charging station isn’t busy or, you know, completely broken. If you do the math, the Maverick’s EPA numbers give you nearly 430 miles of range, while Slate’s truck promises to hit just over a third of that, assuming, of course, it’s not freezing outside or anything.

SPECS

Now, Slate’s concept has some cool ideas like swappable body panels and modular bits, but let’s be honest: fun, quirky features don’t always survive the realities of potholes, payloads, and subzero mornings.

Speaking of payloads, let’s break down the specs. The Slate can tow up to 1,000 lbs and haul 1,433 lbs of cargo. Meanwhile, the base Maverick doubles the towing capacity at 2,000 lbs and has a 1,500-lb payload capacity. The Slate boasts a five-foot bed, while the Maverick’s is a bit more compact at 4.5 feet.

Driven: The Ford Maverick Is Proof Big Things Come In Small Packages

That said, the Maverick can seat five people at all times, even with the bed in use, while the Slate takes the cargo volume crown with 35.1 cu.ft and an additional 7 cu.ft in the frunk, compared to the Maverick’s 33.3 cu.ft.

Slate’s EV Is Laughably Bare Bones, Doesn’t Even Have Speakers

We won’t get too deep into the quality and features since we’ve only seen the prototype in pictures, not in person, and things might change when it hits production. But judging by the close up photos from our pals at The Autopian, this thing could make a 1980s Lada Niva look posh. To be fair, their motto is “We built it. You make it.” So, maybe “luxury” is all in the eye of the beholder.

But it’s not that you won’t get an infotainment screen, you won’t get anything. No power windows, no cupholders, no speakers, no radio, no armrest, no glovebox – all of these are “extras.” In fact, customers will have the option to choose from over 100 of these “accessories”, as you can see for yourself in the configurator.

We’re honestly surprised they even bothered with seats and a steering wheel. This thing is laughably bare-bones, even by decades-old standards. In contrast, the base Maverick at least comes with all the modern creature comforts you’ll actually need – and then some.

A Real Truck vs. Wishful Thinking

In the end, the Maverick is a real truck, with a real bed, and a real warranty that’s sold by a brand that has been around for over a century. Contrast that with Slate’s trucklet: an unproven EV with startup dreams and very little track record, though they’ve certainly done an excellent job going viral. We’ll give them that.

Of course, Slate’s vision still deserves some credit. It’s trying to solve a real problem: new vehicles are getting too expensive. But the Ford Maverick proves you don’t have to sacrifice practicality or usability to hit that sweet spot. You can walk into a showroom today and drive out with a functional, fuel-efficient pickup that actually exists.

You don’t have to wait for something that maybe will show up someday, hoping it somehow avoids the massive pitfalls other companies have stumbled into when it comes to service and customer care.

Maybe Slate will pull it off. Maybe it won’t. But until then, the best budget truck-slash-crossover EV isn’t a futuristic trucklet. It’s wearing a Blue Oval and parked at your local dealer.

John Halas contributed to this article.

2024 FORD MAVERICK XL

The Range Rover Electric is inching closer to production as Land Rover has announced prototypes have successfully completed their second season of cold weather testing in northern Europe. They racked up to 45,000 miles (72,420 km) validating various systems and pushing them to their limits.

Much of the focus was on the SUV’s thermal management system known as ThermAssist. It reduces heating energy consumption by up to 40% and aims to recover heat to warm the propulsion system or cabin in temperatures as low as 14°F (‑10°C). This helps to maximize range as well as efficiency.

More: Range Rover Electric Looks Ready To Tackle The Streets Of Beverly Hills

Besides testing out ThermAssist, the company worked on their air suspension and one-pedal driving mode. The latter is a common feature on EVs and allows drivers to only use the accelerator as the regenerative braking system kicks in as soon as you lift your foot off the ‘go pedal.’ However, Land Rover noted their application works with the Terrain Response system so it’s off-road ready.

The automaker went on to confirm the model has their first battery to be designed and built in‑house. The 117 kWh unit consists of 344 prismatic cells in a double‑stacked layout. The company added it has been “optimized for energy density, range and charging times” in order to deliver the “effortless performance and customary refinement expected of a Range Rover.”

Battery aside, the Range Rover EV has an all-wheel drive system with Intelligent Driveline Dynamics technology. It can distribute rear torque from 100% to 0% to prevent a loss of traction. Furthermore, the model can respond to slips and traction changes within 50 milliseconds, which is up to 100 times quicker than an ICE vehicle.

JLR Vehicle Engineering Director Matt Becker said, “By increasing its torsional stiffness and improving its responses, we’ve been able to maintain a customary Range Rover driving experience that feels familiar.” He added this was made possible by “marrying all the essential Range Rover elements with new and advanced technologies.”

While the company didn’t reveal too many details, Top Gear is reporting the model has a dual-motor all-wheel drive system with a combined output of 542 hp (404 kW / 550 PS) and 627 lb-ft (849 Nm) of torque. If that pans out, the Range Rover Electric would be more powerful than the P530 variant, which has a twin-turbo 4.4-liter V8 developing 523 hp (390 kW / 530 PS) and 553 lb-ft (749 Nm) of torque.

Developing and launching an electric vehicle is challenging enough for any mass-market brand, but for a smaller automaker like Ferrari, stepping into the world of electric cars is no easy task. While Ferrari undoubtedly has the engineering expertise, its rich motorsport legacy could make it a tough sell to its loyal fans who may not be ready to embrace the shift to electric.

Read: Ferrari Elettrica Coming In October After Years Of Development

This year, Ferrari’s first EV will finally make its debut. Currently dubbed the Elettrica, it’s expected to take the form of a hatchback-crossover. Two recently uncovered patent filings discovered by Motor1 suggest Ferrari is determined to ensure the car delivers on the emotional front.

How? By possibly incorporating artificial gear shifts, similar to the ones found in the Hyundai Ioniq 5 N, along with a sound reproduction device that mimics the unmistakable growl of an internal combustion engine. Obviously, silence just doesn’t cut it for Ferrari enthusiasts.

Virtual Gears: A Nod to Tradition

These two systems have been detailed in a pair of patents recently filed in Europe. The first patent describes a set of ‘virtual gears’ that Ferrari has developed for the Elettrica that uses an electric motor to simulate the changing torque of a traditional engine and transmission. These virtual gears could be operated using dedicated shift paddles, or they could be activated automatically depending on the throttle and brake outputs.

According to Ferrari, the virtual gears can change in as little as 200 milliseconds or as much as 600 milliseconds. It sounds strikingly similar to Hyundai’s setup for the Ioniq 5 N, a system that’s now also in the Kia EV6 GT. While some critics argue that EVs should focus on smooth, uninterrupted power, successfully recreating an ICE experience is a win for driving enthusiasts.

Sound That Satisfies. Sort Of

The second patent centers on a device that works in tandem with the virtual gears to provide an ICE-inspired soundtrack. This isn’t the first time Ferrari has ventured down this road. In 2023, the brand patented a “sound reproduction device” designed to bring an auditory thrill to its future EVs.

Recent spy videos of Ferrari’s debut EV have offered a glimpse of this sound system in action. The footage reveals a deep, bassy rumble that eerily resembles the growl of a powerful ICE engine. Whether that sound will be enough to ease purists’ pain over the absence of the iconic Ferrari engine roar, however, remains to be seen..

SHProshots

Tesla just took a big step forward toward bringing robotaxis to the public. Strangely, it didn’t come with a bunch of fanfare from its CEO either. Instead, the company quietly confirmed on X that it has made its ride-hailing service available to some employees.

“FSD Supervised ride-hailing service is live for an early set of employees in Austin & San Francisco Bay Area,” read the post. Those cities are both very important for Tesla as the brand has facilities in each. A short video posted along with the announcement tells us a bit more about how it works.

More: Canadian Dealers Want To Blow Up Border Rules And Import Cool Cars Americans Can’t Buy

A rideshare app allows users to click a big button that simply says “Pick Me Up.” Once the car arrives, users get a notification and a reminder to buckle up in the car. Cybertruck-styled font shows a new script that calls the service “Robotaxi.” The video seems to indicate that, for now, a human safety driver is in the driver’s seat during the testing.

Once in the car, it appears riders get a message on the rear-seat infotainment system to confirm their name, address, and arrival time. Riders click a button in the car that says “Start Ride,” and off goes the car. According to Tesla, it’s already completed 1.5k trips and 15k miles of driving.

Interestingly, the Robotaxi nomenclature helps us understand an important point. The Cybercab refers to the vehicle, and Robotaxi is a service that can leverage more of Tesla’s models. No doubt, they’ll share software and functionality to a degree.

Perhaps the biggest surprise here isn’t that this is happening but that it’s seemingly on time. Elon Musk has famously been overly optimistic about true Level 5 driving tech. This time, it seems like his promise that a paid version of this service will go live in June could end up coming true. Even then, though, we expect a full-scale rollout to take a good long while. 

The Shanghai Auto Show is always a spectacle, but this year, Chinese automakers have outdone themselves with a slew of debuts. Among the various concepts and production vehicles, SAIC stole the spotlight with some impressive models from AUDI by Audi and MG. But it was the Roewe brand’s latest concept called the “Pearl of China”, that really caught our attention, and for good reason.

This new vehicle doesn’t just stand out for its name. It looks strikingly similar to an upcoming European luxury model, and we can’t help but notice.

A Familiar Touch from a Familiar Designer

The Roewe Pearl was designed by Josef Kaban, the same Slovak designer who briefly served as the head of design at Rolls-Royce in 2019, though his stint there lasted all of six months. Before being recruited by SAIC in 2024, Kaban’s resume included stints at Audi, Skoda, Bugatti, BMW, and Volkswagen. And yes, he was behind the Bugatti Veyron, which is still regarded as one of his greatest achievements.

More: MG’s Electric SUV Looks Like A Mini Land Cruiser With Pop-Up Headlights

Arguably, the Roewe Pearl could easily be mistaken for Jaguar’s upcoming flagship electric sedan. Its upright nose, slim LED lights, and fully illuminated grille all feel strikingly familiar. Sure, the proportions differ from Jaguar’s Type 00 coupe concept, but they’re much closer to the production sedan variant, which has been spotted on several occasions.

We can also spot other European design inspirations. For example, the surfacing on the profile and the suicide doors are reminiscent of Rolls-Royce, while the gold accents on the wraparound greenhouse evoke Maybach vibes. Inside, the four-seat layout features ambient lighting, a floating center console, a large infotainment display, and a flower vase between the rear seats.

Roewe, SAIC Design / Weibo

Is It Electric? Probably

We don’t have any hard details on the technical specs just yet, but the absence of air cooling intakes suggests that the Pearl could be powered by a fully electric powertrain. Given the current trends, this wouldn’t be surprising, but until we hear more, we can only speculate.

More: Huawei’s Maextro S800 Looks Like Someone Put A Maybach, A Rolls And A Porsche In The Blender

Along with the Pearl, SAIC’s Roewe has also teased a shadowy SUV that shares a similar design language. While the company hasn’t confirmed whether either concept will actually make it to production, they have hinted that these designs could foreshadow the direction Roewe intends to take in the future. Expect more of this design language in the years to come, whether in sedans, SUVs, or something else entirely.

Despite luxury sedans and SUVs from Chinese brands becoming more common, Roewe is typically positioned as an entry-level brand within SAIC’s broader portfolio. That said, the “Pearl of China” concept suggests that the company might be eyeing a move upmarket. After all, if you’ve got a designer behind the Bugatti Veyron and a concept this striking, why not aim higher? Other SAIC-owned brands include Wuling, Baojun, Maxus, IM Motors, Rising Auto, and MG, each covering a different segment of the vast Chinese market.

BMW’s first attempt at cracking the small electric car market with the i3 was one of those things that people either loved or loathed. You were either on board with the i3’s groundbreaking tech and its lounge-like interior, or you found its oddball proportions and head-scratching market placement completely off-putting. Either way, it looks like BMW is ready to revisit the small EV space, but not without taking a little time to pause and reflect first.

Read: BMW i1 And i2 Entry-Level EVs Reportedly Coming In 2027 And 2028

The i3 went out of production in 2023, with no direct replacement to cater to the small EV buyer. Meanwhile, there had been predictions that BMW could follow the path of its rivals and leave the small car segment altogether. However, according to Bernd Koerber, Senior Vice President of BMW’s Brand and Product Management, the Bavarian company plans to keep the 1-Series around, with a new generation likely to surface in 2028.

i3 Becomes the i1?

The original i3 was as much of a production car as it was a bit of a market experiment — and as such, its naming convention would be quite confusing in today’s electric BMW nomenclature. In fact, the i3 name will soon be assigned to the electric versions of the eighth-generation 3 Series.

So, where does that leave the next small EV? Well, the all-new compact EV is expected to be paired with the next-generation 1 Series, with both models likely to launch simultaneously, featuring styling and platforms influenced by the company’s Neue Klasse design direction.

BMW Stays In Small Car Segment

With Audi winding down production of the A1 and Q2, and Mercedes declaring that the A-Class will meet its maker at the end of this cycle, some predicted BMW would sound the death knell on the 1-Series line. But not so, says Koerber.

Speaking to AutoExpress, Koeber highlighted the importance for BMW to stick around. “Go to Greece, go to Spain, go to Italy – take out the 1 [Series] and that’s one-third of your business. So, if you’re a global player, you better do things in your home markets which are relevant.”

Koeber also related how having an entry-level model like the 1-Series has a greater impact on the brand as a whole. “It’s very important for the brand, because what you see in the 1 Series is you have the highest share of younger drivers.”

More Shared With Mini

BMW could opt to keep costs down by borrowing from the Neue Klasse platform, which offers the flexibility to provide different layouts and wheelbases. Another advantage for BMW is Mini, with the next generation 1 Series likely to share components with the sister brand.

Koeber, who also served as senior vice president for Mini until 2022, says that remaining in the small car sector will also force BMW into finding clever and cost-efficient solutions. These solutions can later be applied to larger models, with BMW keen to retain its competence in cost-effectiveness.

Illustrations: Carscoops / Thanos Pappas

Jeep’s lineup has filled out over the past couple of years with the addition of the luxury Wagoneer and Grand Wagoneer and all-electric Wagoneer S, which is soon to be joined by the also-electric Recon. But potentially more important than all of them is the 2026 Cherokee, and new spy pics reveal the face and interior for the first time.

Compared with previous prototypes, this one has stripped away much of the front-end disguise, giving us a look at a grille that’s like a mashup of several other Jeep grilles. The five visible vertical grille sections (two are still hidden) are taller than the ones on the Grand Cherokee and seem to stand more proud of the body. But they also don’t have the a piece of trim above them to display the model name like the Wagoneers do.

Related: Here’s What We Know About Jeep’s 2026 Cherokee

But even if it did have a bit of trim with the name on, what would it say? We’re calling this SUV the Cherokee because it’s effectively a replacement for the Cherokee that bowed out in 2023, and will nestle below the Grand Cherokee in the Jeep lineup. But some reports say Jeep will move away from the name it’s used for decades as a mark of respect Cherokee Nation.

Whatever it’s called, this new Cherokee’s dashboard design has more in common with the Wagoneer S EV than it does the existing Grand Cherokee. These first ever interior pics of the Ford Bronco Sport rival show a large digital instrument cluster and a central touchscreen that’s mounted at an angle, just above a bank of touch-sensitive buttons for the climate control.

It’s good to see drivers won’t have to dive into the infotainment to change the temperature, and the switches do look great, but physical push-buttons would be even better. Further down the console is what looks like a rotary controller for the transmission and a toggle to move between the driver modes. The passenger side of this prototype is covered with cloth disguise but it’s possible Jeep could offer a third screen above the glovebox, as it does on the Wagoneer S.

Housed between the shock towers of Stellantis STLA Large platform you’ll find the Cherokee’s first ever hybrid powertrain options, and later, an all-electric variant. Leaked documents suggest production is scheduled to begin this fall for the 2026 model year and we’re sure to find out more – including the name – in the months leading up to that debut.

Images: Baldauf

President Trump signed an executive order aimed at making it easier for companies to mine the ocean floor. Scientists and environmentalists worry it could harm an ecosystem we don't know much about.

LISLE, Ill. and MIAMI, Flo. – Mobico Group has announced that it has reached an agreement for the sale of its School Bus division, National Express School (NEXS) to I Squared Capital, a specialist global infrastructure investor. The acquisition, which is anticipated to close in the third quarter of this year, will involve all brands associated with NEXS, including Durham School Services, Petermann Bus, and Stock Transportation.

As one of the largest student transportation companies in North America, NEXS is a transportation leader with over 100+ years of experience in the industry with a renowned history of safe and reliable transportation service. With its high-visibility contracting model and sticky revenue streams, NEXS looks forward to embarking on a new chapter of growth in partnership with I Squared while retaining our market-leading safety record and brand heritage.

Tim Wertner, CEO of National Express School, said, “This transfer of ownership will allow us to stand on a much stronger financial foundation for a wider spectrum of new opportunities and growth to benefit our stakeholders, valued partners, and prospects, as well as reinforce our position as a transportation leader and flourish to even greater heights. With I Squared Capital’s strong reputation and support of our Company, we firmly believe they will be an outstanding steward for us, and we look forward to furthering our footprint in the student transportation industry together.”

Gautam Bhandari, Global Chief Investment Officer and Managing Partner at I Squared, said: “School transportation is more than just a daily commute. It’s a vital link to education, which underpins a functioning society regardless of the economic cycle. As infrastructure specialists, I Squared has specific expertise in providing vital public services, including public transport. Our investment will provide the capital needed to upgrade equipment and maintain safe, efficient transportation for children using this essential service so parents can rest assured each time their family member travels. We are proud to add this critical business to our portfolio and look forward to continuing to support its growth in North America.”

About National Express School

National Express School (NEXS) is the North American subsidiary of Mobico Group, one of the premier global mobility firms. We operate across 34 states and two provinces. Our organizations share a strong commitment to provide the highest level of safety, quality, outstanding customer service and positive employee relations. National Express School serves more than 400 school districts and contracts in 30 states and two provinces, and transports more than 1.2 million students on a daily basis.

About I Squared Capital

I Squared Capital is a leading global infrastructure investor managing over $40 billion in assets. We build and scale essential infrastructure businesses that deliver critical services to millions of people worldwide. Our portfolio includes over 90 companies operating in more than 70 countries and spanning sectors such as energy, utilities, digital infrastructure, transport, environmental and social infrastructure. Headquartered in Miami, our team of over 300 professionals is based across offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.

The post I Squared Capital Acquires National Express School (NEXS) to Support Growth in North America appeared first on School Transportation News.

I Squared Capital has reached an agreement to purchase all National Express School divisions and assets from the UK’s Mobico Group for $608 million U.S., including over 14,000 school buses operated by Durham School Services, Petermann and Stock Transportation.

The deal was announced Friday but had been expected by industry insiders for nearly 18 months. I Squared said it expects to finalize the acquisition of the Durham, Petermann Transportation and Stock brands by the end of its third quarter, or Sept. 30.

“We expect to continue business as usual under our current operating brands,” a National Express spokesperson told School Transportation News, adding the transition should be seamless for school district customers. “We will continue to deliver the high-quality, safe and reliable service that we’ve provided for more than 100 years.”

Mobico Group, formerly known as National Express Group and based in Birmingham, England, had been looking to sell its North American school bus division to reduce debt. At the same time, I Squared Capital, a global infrastructure investment company, was seeking entrance into the school bus industry and announced its intent to do so in October 2023, “to address the long-term challenges which the pandemic created for school bus.”

I Squared noted that National Express has made “significant operational improvements, primarily improving driver retention and recruitment, route reinstatement, and improved contract pricing.

“The business has also improved fleet allocation which has led to better asset utilization, cash flow and customer satisfaction. All of these culminated in school bus delivering a net positive route outcome for the current school year bid season, the first in over a decade,” the company stated in a transaction summary. “However, whilst school bus has demonstrated its recovery from the pandemic’s effects, it continues to require significant maintenance and growth capital investment and has experienced persistent market challenges such as driver wage inflation and, more recently, potential fleet cost inflation from new tariffs.”

Tim Wertner is expected to continue serving as CEO of National Express. He said the school bus contractor has focused on recovering lost routes, securing new contracts, recruiting and retaining drivers, and delivering price rises above inflation since he joined the company in 2023.

“This transfer of ownership will allow us to stand on a much stronger financial foundation for a wider spectrum of new opportunities and growth to benefit our stakeholders, valued partners and prospects, as well as reinforce our position as a transportation leader and flourish to even greater heights,” he said in a statement Friday. “With I Squared Capital’s strong reputation and support of our company, we firmly believe they will be an outstanding steward for us, and we look forward to furthering our footprint in the student transportation industry together.”

I Squared manages over $40 billion in assets that build and scale infrastructure businesses that deliver critical services to millions of people worldwide. The company’s portfolio includes over 90 companies operating in more than 70 countries and spanning sectors such as energy, utilities, digital infrastructure, transport, environmental and social infrastructure.

“School transportation is more than just a daily commute. It’s a vital link to education, which underpins a functioning society regardless of the economic cycle,” commented Gautam Bhandari, the global chief investment officer and managing partner at I Squared. “As infrastructure specialists, I Squared has specific expertise in providing vital public services, including public transport. Our investment will provide the capital needed to upgrade equipment and maintain safe, efficient transportation for children using this essential service so parents can [be] rest assured each time their family member travels.”

Mobico had operated Durham in the U.S. since the former National Express Group purchased the school bus contractor in August 1999, a year after acquiring Crabtree-Harmon that mostly operated in the Midwest. The company followed in 2000 with the purchase of School Services & Leasing, which at the time was the second-largest school bus contractor in the U.S. Two years later, it acquired Stock Transportation in Canada and in 2018 purchased Petermann in the U.S.

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The post Infrastructure Investor I Squared to Acquire National Express School Bus Contractors appeared first on School Transportation News.