As automakers worldwide scramble to future-proof themselves in the electric era, China has been comfortably in the lead, cranking out next-gen EVs packed with cutting-edge tech and advanced battery systems one after the other at record pace. But behind the buzz and impressive new models, there’s a financial reality dragging at the wheels: most of China’s EV brands are still burning cash, not banking it.

Read: Seres 5 Crushes Tesla Model Y In Comfort But Loses The Battle Where It Counts

At last count, there were around 50 EV brands competing for space on Chinese roads. Out of those, just three of them are thought to be profitable. These include BYD, Li Auto, and Seres. Despite this, brands continue to offer generous discounts to grow their footprint, forgoing financial security in the pursuit of sales.

Discounts Keep Climbing

According to a JP Morgan study cited in a South China Morning Post report, industry-wide discounts averaged a record high 16.8% in April, up from an already steep 16.3% in March. The China Passenger Car Association puts the average discount for 2024 at 8.3%. To top it off, average EV prices were trimmed by 10% back in December. That’s not just aggressive, it’s unsustainable.

Last year, the difference between the selling price of an EV and an automaker’s costs, including raw materials, labor, and logistics, known as the vehicle margin, dropped to 10%. This is down from approximately 20% just four years ago. Analysts believe that most of China’s smaller EV manufacturers will be forced out of the market or will be acquired by larger rivals over the next couple of years.

“Nearly all of them were the victims of price competition,” said Phate Zhang from CnEVPost. “But if any of them chooses to exit the price war, their sales will decline and make it more difficult to post a net income.”

Looking Beyond China’s Borders

One potential lifeline is exports. Chinese carmakers have begun shipping more EVs abroad, where they can command better margins. According to JPMorgan’s Nick Lai, international sales are proving to be more profitable and could provide the breathing room these companies need.

“Price competition has turned fiercer this year. Unfortunately, we have not seen a jump in [EV] demand so far,” Lai noted. The domestic market, while massive, isn’t growing fast enough to offset the steep discounts.

Still, exports are trending upward. In the first four months of 2025, EVs made up roughly 33% of China’s total vehicle exports, up from about 25% over the past two years. It’s not a total solution, but it’s a glimmer of hope for brands looking to survive the increasingly brutal home turf battle.

As the EV world continues its game of musical chairs, one startup company thinks it has found a different way to stay standing when the music stops. Slate is betting on a different formula: simplicity over flash. In a market obsessed with massive screens and autonomous gimmicks, Slate thinks there is still room for vehicles that just work.

Read: Would You Really Pay $28K For A Crank Window EV With No Speakers?

CEO Chris Barman, a veteran of Chrysler, says that the startup, which is reportedly backed by Amazon boss Jeff Bezos, aims to deliver “fun, affordable EVs that people actually want to drive.” Her goal is to tap into an under-served market, and she just opened up about why she thinks Slate will succeed.

Barman, a mechanical engineer by background, joined Slate as CEO in May 2022. She spent most of her career in product development at Chrysler, eventually rising to vice president of electrical and electronics at Fiat Chrysler. Put simply, she knows how to build vehicles that can handle real-world abuse.

A Truck Without the Tech Overload

Slate’s first offering is a no-frills electric pickup truck priced from “around $28,000.” With current incentives, that could theoretically make a base Slate pickup roughly $20,500. No doubt, that would stand out in the U.S. market and the overall EV segment, though as always, there is no guarantee the $7,500 tax incentives will still be available when the trucks actually hit the road.

“There’s a massive population of people out there when it comes to safe, reliable, affordable transportation; there just really aren’t many alternatives for them,” Barman said in an interview with Business Insider. As of February, an EV costs an average of $6,300 more than a similar gas-powered car. Of course, some gas-powered cars do almost everything Slate offers and then some.

Nevertheless, it sounds like Barman is building this idea off of decades of love for similar vehicles. “I grew up on a farm. My first car was a 1984 Ford Ranger pickup, with a five-speed manual, manual windows, and no air conditioning,” she said. “It was basic transportation, but I loved the freedom it gave me to go places and do things.” That freedom-based thinking bleeds into the design of the Slate pickup.

Modularity Built In

Unlike just about everything else on the market, this thing stands out because of its modularity. Owners can add over 100 different accessories, and we’re not talking about Slate-branded valve caps. We’re talking about infotainment systems, speakers, cupholders, different exterior lighting surrounds, and even a conversion kit that turns the truck into a five-seat crossover.

“It may be, they were single when they first purchased the truck, and they recently got married, and a few years later, they have a family, and instead of having to exchange it out for a completely new vehicle, they can convert it into a five passenger SUV and continue to use the vehicle,” Barman told BI.

How exactly does she see users engaging at such a high level in a space that few people usually do? She says that the automaker will offer instructional videos online in what it’s calling Slate University. It is part of what Barman calls “a complete paradigm change in the car buying experience.” Buyers will not be locked into the expensive, bloated versions dealerships like to push. Instead, they will start basic and add only what they want, when they want.

Direct Sales

To help streamline the process, as with most EV startups, Slate is skipping traditional dealerships altogether and selling directly to consumers. Buyers will configure and purchase their vehicles online, with no showroom upsells or sales pressure to deal with.

Reservations for the EV are already open, with a refundable $50 deposit if you are feeling adventurous. Of course, the company still has a lot of hoops to jump through before any of this happens. Slate is working to secure an old shuttered factory to revive in the Midwestern US, and only once vehicles start rolling off an actual production line will we know if Barman’s dreams for Slate can turn into a reality.

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.

According to a salesman from used car dealership Schoepp Motors, now is a great time to buy a used car — but don’t do it just because you can.

The post What people in Wisconsin should consider before buying a car right now appeared first on WPR.

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

EV startups have become a regular occurrence in recent years, but the success rate for these companies in the U.S. is far from impressive. Enter Slate, a new contender aiming to change that. The company is promising to deliver a back-to-basics electric truck, which can also be reconfigured into a five-seat SUV or a fastback utility vehicle that channels the spirit of a Jeep Wrangler. Best of all, prices will start at under $28,000, or around $20,500 if you factor in the $7,500 federal incentive, an unusually rare sight in the EV world.

Read: Slate Auto Teases 3-Door SUV That Looks Like A Range Rover Classic

Slate unveiled several prototypes at an event in Los Angeles this evening, and while the brand is new, it already has serious financial backing and has apparently raised over $100 million. Amazon head honcho Jeff Bezos has even provided some funding, giving the company an important starting point before it hits the market.

A “Blank Slate” for Customization

The automaker describes its vehicle as a ‘blank’ Slate and as such, it’s simply called the Truck. Customers will be offered extensive personalization options, allowing them to make their perfect EV.  

The truck is underpinned by a skateboard architecture and will be offered with two battery packs. The base pack is a 52.7 kWh unit that will provide the Slate with an estimated range of 150 miles (241 km). Those who need to travel a little further can opt for a larger 84.3 kWh pack that boosts the range to 240 miles (386 km). All models use a rear-mounted electric motor that produces 201 hp (150 kW).

As standard, the basic Slate has a 5-foot bed, a NACS connector, a 1,000 lbs (453 kg) towing capacity, which is half that of the least capable Ford Maverick, and a max payload of 1,400 lbs (635 kg). It supports 120 kW DC fast charging, allowing the battery to be charged from 20-80% in approximately 30 minutes.

Why Is It So Cheap?

A key reason why Slate will be able to sell its electric truck for so cheap is that it lacks much of the tech we’ve come to expect from modern EVs. It has no radio, no speakers, and no infotainment screen. All you will find inside is a basic dashboard with a small digital instrument cluster and a simple steering wheel. It even features physical window winders. A dedicated phone holder is positioned next to the steering wheel, and Slate is developing an app for it to provide some entertainment options while on the move.

All Slate models will leave the factory in this back-to-basics configuration. However, customers will have hundreds of accessories to choose from to personalize their vehicle. These will include kits to convert it into an SUV or as an open-top two-door.

If you want to pump some tunes while driving, you’ll have to opt for the optional Bluetooth speaker system. If you want any color other than grey, you’ll have to get the Slate wrapped, which the company says can be done in just 30 minutes, thanks to its simple shape. If you want wheels different than the standard steelies, they’ll be sold as an accessory, too. It’s a novel way of marketing and selling an EV, and only time will tell if it proves to be a good idea.

While the Slate lacks many creature comforts, the company is determined to achieve five-star safety ratings. It comes standard with traction control, ESC, automatic emergency braking, airbags, a reversing camera, forward collision warning, and auto high beam.

When Can I Get One?

Slate says its EV will be built at a new manufacturing facility in Indianapolis, Indiana, with customer deliveries scheduled to begin in the fourth quarter of 2026. Until that date arrives, it’ll continue testing and developing this unique EV, and trying to convince US buyers that this should be their next vehicle.

Slate wants to build as many as 150,000 electric trucks each year. Those who wish to secure an allocation can do so with a $50 deposit.

Slate Auto thinks it can triumph where Lordstown, Fisker, Byton and others have failed. The new US-based startup is working on a family of EVs that will reportedly start at just $25k and could be on sale before the end of 2026. And beyond that incredible price, one of the features that could make people take note is a clever piece of tech from Canada that promises to transform the driving and ownership experience.

The tech comes from Exro, which has developed its own Coil Driver inverter. The technology has several advantages, one of which is that it removes the need for a traditional on-board charger that’s necessary when converting AC power from your house to DC for charging an EV.

Related: Slate Auto Teases 3-Door SUV That Looks Like A Range Rover Classic

Ditching the converter makes the EV lighter and also cheaper to build – a big priority when you’re targeting a $25k retail price. But it also allows for faster AC charging, giving the possibility of sucking in 19 kW, with up to 80 kW possible in the future, according to Driving.ca, which broke the story. That doesn’t just mean easier charging at home, but would make it much easier for the global charging network to expand, because it removes some of the need to build expensive DC charging stations.

Another plus point to Exro’s tech is its coil-switching system. This effectively creates multiple virtual power and torque profiles in one motor, each configured to best suit what the driver and vehicle needs at that moment. The result is more bottom end torque and more top end power than with a conventional motor, plus greater efficiency.

Michigan-based Slate Auto is believed to be backed by Amazon founder Jeff Bezos, and has plans to bring electric power to the masses with simple, low-cost EVs. So far courtesy of an unconventional marketing campaign we’ve seen a small gray pickup and two different two-door SUVs, one with an upright rear window and the other with a hatchback-style slope to its tail.

Little else is known right now, but that’s set to change on April 24 when Slate will reveal more details, hopefully including whether Trump’s tariffs on auto goods entering the US from Canada will throw a spanner in plans to use Exro’s smart technology. Although Exro has facilities in both Canada and the US, it looks like the manufacturing base is north of the border.

H/T to Fred!

Lead image: Exro/TheManiFamily, TikTok

Update: As expected, Slate Auto’s guerrilla-style marketing campaign is picking up steam, with the EV startup continuing to build buzz for its debut model with unconventional tactics. Following the recent sighting of its two-door pickup truck, a TikTok video from TheManiFamily account has now revealed a second variant.

This time, the vehicle in question is a three-door SUV version of the truck, complete with a slanted rear window hatch. With design cues reminiscent of older Range Rovers, it feels like a modern, more compact take on the original three-door Range Rover Classic from the ’70s and ’80s. Some might even notice similarities to the upcoming Rivian R3, which shares some styling elements, particularly the hatchback crossover shape. However, Slate Auto’s still-unnamed model clearly leans more toward utility.

@themanifamily

Unpacking generational kitty trauma. Visit CatThurrrapy.com to find out more #ad

♬ original sound – TheManiFamily

The short video posted on TikTok seems to be another piece of the playful campaign, featuring a fake cat therapist company called TheFelineTherapist. The clip includes a link to a website, CatThurrrapy, which, unsurprisingly, reveals that Slate Auto is behind the entire ruse. But wait, there’s more. TheAutopian also caught wind of a third version of the vehicle, a boxier, two-door SUV that’s practically a love letter to – you guessed it – the Land Rover Defender.

Further details are set to be released on April 24, so stay tuned for more. Original story follows below.

🔴 𝐄𝐗𝐂𝐋𝐔𝐒𝐈𝐕𝐄: A new American electric vehicle company is coming. New automaker Slate shares the first public photos of its upcoming EV, wrapped in Newsweek camouflage. pic.twitter.com/JVfeBzYby4

— Newsweek (@Newsweek) April 15, 2025

An electric pickup truck has sparked curiosity online after a photo surfaced of a camouflaged two-door truck being offloaded from a flatbed in Los Angeles. The timing couldn’t be more interesting: news also broke that Amazon founder Jeff Bezos is quietly backing a Michigan-based EV startup called Slate Auto, which claims it’s developing a $25,000 electric model in the form of a compact, two-door pickup.

More: Jeff Bezos Secretly Backs EV Maker Building A $25K Pickup For The Masses

Photo TheManiFamily / TikTok

The image, posted to Reddit by user Discostranger09, shows the pickup truck being unloaded from a shipping container just outside their office. The flatbed truck is marked with the name “Time Towing LLC,” though there may be an additional word obscured at the front of the logo. The original poster didn’t offer much more than that, though commentators said the photo was likely taken somewhere in Los Angeles.

From what’s visible, the vehicle looks like a mashup of an older Range Rover and a Jeep Renegade—boxy, upright, and unapologetically stubby. The absence of a grille opening at the front suggests its electric, reinforced by what appears to be a charging port near the rear corner. A quick image search doesn’t match it to anything currently on the market, though admittedly, that’s far from definitive.

Is This Slate Auto’s First Prototype?

Naturally, Redditors were quick to speculate. The most popular theory is that this mystery truck is Slate Auto’s debut model, possibly caught during testing or transport. Others floated ideas ranging from a Rivian prototype to a one-off custom build, though no solid evidence has surfaced to support any theory just yet.

What We Know About Slate Auto

Slate Auto remains mostly under wraps, with limited information available beyond a recent TechCrunch report. According to that story, the company was quietly formed in 2022 as a spinout of Bezos’ investment in Re:Build Manufacturing. Since then, it’s been building out its team in Detroit, recruiting talent from legacy automakers like Ford, GM, and Stellantis, as well as from floundering EV startups such as Fisker and Canoo. Their goal? A $25,000, two-door, two-seat electric pickup aimed at a late 2026 release.

While Slate Auto hasn’t confirmed anything about the vehicle, they’ve announced that more news is coming on April 24. Whether that will include a formal reveal or just more corporate breadcrumbs remains to be seen.

In the meantime, we’ll keep digging to see what else we can uncover about the truck in question. If you recognize it—or if you’re the one who built it in your garage over a long weekend—drop us a line.

Photo Slate / Newsweek

Electric vehicles might be the future, but profitability? That’s still a rare luxury in the EV world. An interesting study has revealed that just four EV-only brands are currently operating at a profit, while many others continue to bleed money at impressive rates. It probably won’t shock anyone that Tesla and BYD are leading the charge, but some of the other top-performing names are a bit less expected.

Read: Only 1 In 7 Of Today’s Chinese EV Brands Will Be Profitable By 2030, Analysts Claim

The study examined the operating income ratios of major EV brands and found that in 2024, Tesla reported an operating margin of 7.2%, putting it just ahead of BYD at 6.4%. However, while Tesla’s margin has declined since 2023, BYD’s has been climbing. If that trajectory holds, as many analysts expect, BYD could soon surpass Tesla in operating profitability.

Vertical Integration Pays Off

Key to the growth of both of these brands is that they are vertically integrated, helping them to scale and reach profitability sooner. The only other two brands analyzed by the study to have reached profitability are China’s Li Auto and the Series Group, which includes the Seres, Aito, and Landian brands.

While none of the other EV brands analyzed turned a profit in 2024, a few are edging closer. Zeekr, part of the Geely group, reported an operating margin of -8.5% last year. But with sales on the rise, it may soon begin delivering profits for its parent company. Xpeng and Leapmotor are also moving in the right direction, having more than halved their losses between 2023 and 2024.

Nio is another important player in China’s EV market, but not a profitable one. Its 2024 operating margin came in at over -30%, suggesting it still has a long climb ahead before it sees black ink on its balance sheet.

Tesla Stands Alone Outside China

Tesla remains the only non-Chinese EV brand to hit profitability. Polestar hasn’t crossed that threshold yet, though it did manage to reduce its losses in 2024. Similarly, Rivian also remains in the red, though like Polestar, it continues to receive substantial external funding.

At the other end of the spectrum, Lucid holds the dubious honor of running the steepest losses in the EV sector. According to data from Rho Motion, its 2024 operating margin was -374%. That’s an improvement from over -500% the year before, but still, not exactly a sign of financial health. Heavy backing from Saudi Arabia is helping Lucid stay afloat despite the massive shortfalls.

New Poll: American Voters Support Federal Investments in Electric Vehicles Broad, Bipartisan Support for EV Investments and Incentives that Lower Costs, Expand Access, and Help the U.S. Beat China in the Race for Auto Manufacturing WASHINGTON, D.C. – A new bipartisan national poll conducted by Meeting Street Insights and Hart Research finds broad public support …

The post Support for Electric Vehicles appeared first on Alternative Energy HQ.

Bergen, Norway February 17th, 2025 — Since going into service in 2015, the MF Ampere has now sailed an astonishing distance equivalent to 17 times around the equator on batteries alone, solidifying its place as a groundbreaking achievement in sustainable maritime transport. A decade on and the Ampere continues to showcase the transformative potential of electric …

The post World’s first fully electric ferry celebrates 10 years of success appeared first on Alternative Energy HQ.