👋 Watts up? The BMW Group sold a record number of fully-electric vehicles in 2024, selling over 400k units, a 13.5% increase from 2023. This accounted for 17.4% of their total sales, with BMW delivering 368k units, MINI delivering 56k, and Rolls-Royce delivering 1.8k. Also, ENGIE are set to supply 200MW of renewable energy for Meta, aimed to help Meta reach their net zero emissions goal. The energy will be supplied by ENGIE’s Anson 2 solar project, set to begin operations later this year. Learn more on these stories, and others, in todays issue.

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QotD: When did BMW create their first electric car?

MARKETS

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ELECTRIC VEHICLES

BMW Group Delivered 426,594 Electric Vehicles in 2024

🚗 The BMW Group sustained its growth in 2024, delivering 426,594 fully-electric vehicles, a 13.5% rise from 2023. Both BMW and MINI brands achieved double-digit growth in EV sales, with BMW delivering 368,523 units and MINI 56,181 units. Rolls-Royce reported an exceptional 479.6% increase in EV deliveries, reaching 1,890 units.

• BMW Group delivered 2,450,804 vehicles globally, with EVs accounting for 17.4% of total sales.

• European sales showed strong EV growth, especially in Italy, France, the UK, and Germany.

• BMW M also reported a record year with 206,582 units sold, while MINI nearly doubled Q4 EV sales.

Despite a 2.3% decline in BMW brand deliveries, it remained a global leader. Expanded EV offerings are expected to fuel further growth in 2025.

INFRASTRUCTURE

BMW Group Announces Battery Recycling Partnership with SK tes

🔋 The BMW Group will introduce a closed-loop battery recycling system in collaboration with SK tes, starting in 2026. This initiative will recover critical materials like cobalt, nickel, and lithium from used batteries for reuse in new battery production, advancing resource efficiency and sustainability.

• The recycling system builds on BMW’s successful implementation of a similar process in China in 2022.

• Operations will initially launch in Europe, with expansion to the U.S. by 2026.

• The process converts old batteries into “black mass,” which is processed to extract valuable metals for use in BMW’s GEN 6 drive train.

• SK tes, a global leader in sustainable technology, boasts a 97% material recovery rate and has reclaimed over 108 million kilograms of battery materials since 2021.

This partnership highlights BMW’s commitment to a circular economy and greener manufacturing while strengthening supply chain resilience.

CLEAN ENERGY

Meta and ENGIE Announce new 200MW Clean Energy Agreement

☀️ ENGIE North America and Meta have finalised their second Environmental Attributes Purchase Agreement of 2024, with ENGIE set to supply 200MW of renewable energy from the Anson 2 solar project in Texas. This partnership supports Meta’s net zero emissions goal and growing energy needs.

• The Anson 2 solar project, operated by ENGIE, will begin operations in late 2025 near Abilene, Texas.

• Meta has procured over 12GW of renewable energy since 2020, maintaining net zero emissions across its global operations.

• The project will employ over 300 local workers during construction and generate $56 million in tax revenue.

This agreement strengthens ENGIE’s position in renewable energy and reflects Meta’s commitment to sustainability. It demonstrates both companies’ ambitions in advancing clean energy solutions while fostering local economic growth.

TECHNOLOGIES

Pony AI Testing Autonomous Taxis in Beijing

📱 Pony AI has begun testing its autonomous robotaxis on Beijing’s highways without a safety officer in the driver’s seat, a first for the company after securing the necessary permits. However, a safety officer remains required in the front passenger seat during these trials.

• The robotaxi fleet, based on Toyota Sienna and Lexus RX models, operates on designated routes, including Yizhuang to Daxing Airport and near Beijing South Railway Station.

• Testing spans various traffic conditions and times of day, enabling comprehensive evaluation of the technology.

• Pony AI has also advanced its self-driving truck fleet, introducing “following vehicles” operating without a safety officer, aiming for fully unmanned operations.

In early 2024, the company’s robotaxis completed an average of 15 orders per day. Following its IPO on the Nasdaq in November last year, Pony AI continues to lead in autonomous mobility, driving innovation for safer, more efficient transport solutions.

WATT ELSE?

• Audi delivers 164,000 EVs in 2024 – but sales have declined

• Masdar unveils new 1GW renewable energy facility

• TT Electronics launches new LRMAK 4-terminal shunt resistors

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Answer: 1972, with the BMW 1602 Electric

*As of 11:00am EST, on the same business day. Includes top movers.