👋 Watts up? Despite todays unlucky date, we’ve got some good news for electric vehicles, as we’ve seen global sales rise for the 7th consecutive month. Notably, both North America and China boasted substantial increases in sales, whilst Europe’s market remains uneven. It’s not all bad for Europe though, as the UK has introduced its Clean Power Action Plan, aiming to achieve clean energy by 2030. Learn more on these stories, and others, in todays issue.

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MARKETS

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ELECTRIC VEHICLES

Global EV Sales rise for Seventh Consecutive Month

🚗 Global electric vehicle sales reached a record high in November, climbing 32.3% year-on-year to 1.83 million units, according to Rho Motion. China led the market, accounting for nearly 70% of global sales.

• China’s EV sales surged by 50% to 1.27 million vehicles, supported by government incentives and a growing penetration rate of around 50%.

• European sales declined year-on-year but rose 7.7% from October, reflecting uneven market dynamics.

• North America saw a 16.8% increase in sales, totalling 0.17 million units.

• BYD is on track to exceed its annual sales target, potentially surpassing Ford and Honda globally.

Overall, global demand for EVs remains strong, driven by advancements in technology, growing environmental concerns, and continued policy support in key markets.

INFRASTRUCTURE

CarbonX have Announced a €4 million Extension of Funding

🔋 Dutch start-up CarbonX is set to transform the battery industry with its sustainable, cost-efficient carbon anode material designed to rival Chinese graphite. The company extended its growth funding round by €4 million, bringing the total to €10 million, with support from the Energy Transition Fund Rotterdam and existing investors.

• The funding will boost battery testing, secure agreements, and prepare a feedstock mixing facility in Rotterdam.

• CarbonX’s carbon anode matches Chinese graphite in cost while offering faster charging, longer battery life, and a lower carbon footprint.

• Currently, 95% of graphite is sourced from China.

• CarbonX’s feedstock technology integrates with existing carbon black plants, reducing energy consumption and enhancing battery performance through a 3D porous structure.

• The company plans a new pouch cell lab, contract manufacturing, and feasibility studies for large-scale production in Europe and the US.

CarbonX’s advancements mark a significant step toward reducing dependency on Chinese graphite, building a sustainable battery industry in the West.

CLEAN ENERGY

UK Governments Releases Clean Energy Action Plan

☀️ The UK government has introduced the Clean Power Action Plan, aiming to achieve clean power by 2030. The plan seeks to attract £40 billion annually in private investment, enhance energy security, reduce bills, create jobs, and advance climate action.

• The plan prioritises grid upgrades, accelerating clean energy projects, and improving the grid connection process to manage a tenfold increase in capacity queues over the past five years.

• It adopts a clean power definition of over 95% renewable energy, retaining gas as a backup during high demand.

• By 2030, wind and solar will provide over 50% of energy, supported by hydrogen, nuclear, batteries, biomass, and gas infrastructure.

• Reforms simplify planning for onshore wind and solar projects and streamline renewable energy auctions, with the largest auction scheduled for 2025.

• Consumer-focused reforms include cheaper tariffs, incentives for energy savings, and community benefits from clean energy infrastructure.

Despite criticism from Shadow Energy Secretary, Claire Coutinho, the strategy helps to address energy challenges and ensure long-term affordability.

TECHNOLOGIES

Vay’s NVIDIA Powered Autonomous Driving

📱 Berlin-based Vay is revolutionising mobility with its tele-driving technology, offering a human-supervised alternative to fully autonomous vehicles. Using an app, users can summon a remotely operated car, drive it manually for their trip, and leave it for tele-drivers to park or handle subsequent journeys.

• Vehicles are remotely driven by trained tele-drivers using NVIDIA DRIVE AGX, an AI-powered platform ensuring low-latency video streaming and situational awareness.

• Tele-drivers operate vehicles from control stations equipped with standard driving interfaces, relying on advanced sensors and real-time road data for safety.

• Vay’s cars, limited to 26 mph, can handle complex urban environments and stop in emergencies, enhancing safety and reducing operational costs.

• As the first in Europe to tele-drive vehicles without safety drivers, Vay offers commercial services in Las Vegas and collaborates with partners like Bayanat and Peugeot.

• A €34 million investment from the European Investment Bank will support Vay’s European expansion and technological development.

Vay’s tele-driving approach offers a scalable, safe, and innovative solution for urban mobility.

WATT ELSE?

• Toyota premieres its latest EV – the Urban Cruiser

• Valeo and ams OSRAM collaborate on Open System Protocol technology

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Answer: California, Edwards & Sanborn

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