EVs Outperform Diesels

Updates from XCharge, SoundHound AI, and more.

šŸ‘‹ Watts up? A recent report published by the ACEA highlighted an increased shift towards electric mobility during 2024, with battery-electric vehicles (BEVs) outperforming diesel vehicles in registrations. While this number fell in December, other electric mobility alternatives, like hybrids, continued to rise. Also, the UK government has introduced a new ā€œSkills Passportā€œ programme, aimed to help workers within fossil fuel industries transition to clean energy alternatives. Learn more on these stories, and others, in todays issue.

We hope you have a great day!

MARKETS

Company

Share Price

Change

Evgo (EVGO)

3.08

-6.95%

Solaredge (SEDG)

12.92

-5.69%

Lucid (LCID)

2.74

-4.20%

Maxeon Solar (MAXN)

6.44

-4.12%

Ford (F)

10.05

-3.69%

NVIDIA (NVDA)

145.99

+3.66%

Data provided by Google Finance*

ELECTRIC VEHICLES

Electric Vehicle Registrations Outperformed Diesels in 2024

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šŸš— New car registrations in the EU increased modestly by 0.8% in 2024, totalling 10.6 million units. Spain led with a 7.1% rise, while France, Germany, and Italy reported declines. The market continued to shift towards electrified vehicles, with battery-electric vehicles and hybrids gaining prominence.

  • BEVs secured a 13.6% market share for 2024, outpacing diesel vehicles at 11.9%. However, BEV registrations fell 10.2% in December, driven by significant drops in Germany and France.

  • Plug-in hybrid vehicles saw a 4.9% rise in December but experienced a 6.8% annual decline compared to 2023.

  • Hybrid-electric vehicles registered strong growth, up 33.1% in December, surpassing petrol cars in market share (29.6%).

  • Petrol cars declined by 1.8% in December, with Spain showing growth but other major markets recording declines. Diesel registrations dropped 15%, falling to a 9.8% share in December.

The data highlights an accelerating shift towards electric and hybrid vehicles in the European market, a trend that will hopefully continue throughout 2025.

INFRASTRUCTURE

XCharge and Hertz to Upgrade Airport Charging Infrastructure

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šŸ”‹ XCharge has partnered with Hertz to improve EV charging infrastructure at US airport rental facilities, completing installations at three major East Coast airports with plans for further projects. This collaboration aims to support Hertzā€™s growing EV fleet while addressing challenges associated with airport locations, such as space constraints and grid limitations.

  • XCharge installed advanced Level-3 high-speed chargers, significantly reducing charging times compared to Level-2 alternatives.

  • Streamlined solutions minimise site upgrades, enabling efficient installation and operation while enhancing customer satisfaction.

  • The initial project site demonstrated XChargeā€™s simultaneous charging technology, cutting average charging times by over tenfold.

  • XCharge President, Aatish Patel, highlighted the companyā€™s commitment to offering comprehensive, tailored solutions to meet Hertzā€™s operational needs.

The partnership highlights how tailored EV infrastructure can streamline operations and enhance customer experiences, with plans for further expansion underway.

CLEAN ENERGY

UK Government Introduces ā€˜Skills Passportā€™ Programme

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ā˜€ļø The UK government has announced a new initiative, aiming to support the transition to clean energy by investing in workforce training. Central to the plan is a new ā€œSkills Passportā€ programme aimed at helping workers move into renewable industries like wind energy, construction, and infrastructure.

  • The pilot programme, launched on the 22nd of January, targets key hubs such as Aberdeen, Cheshire, Lincolnshire, and Pembrokeshire, each receiving Ā£1 million for training and job transition strategies.

  • The ā€˜Skills Passportā€™ connects workersā€™ existing abilities with opportunities in clean energy sectors, focusing on bridging skills gaps.

  • Offshore wind is a major focus, projected to employ over 100,000 people in skilled roles by 2030.

  • Energy Secretary, Ed Miliband, highlighted the initiativeā€™s dual benefits of energy independence and economic revitalisation.

The programme aims to prepare the workforce for the growing demands within the renewable energy sector, ensuring a smooth transition and supporting the UKā€™s clean power objectives by 2030.

TECHNOLOGIES

Rekor and SoundHound to Revolutionize Emergency Vehicle Technology

// Pexels

šŸ“± Rekor Systems and SoundHound AI have partnered to enhance emergency vehicle technology by integrating Rekorā€™s vehicle recognition software, Rekor Scout, with SoundHoundā€™s conversational AI. This innovative system aims to improve safety, efficiency, and situational awareness for law enforcement and first responders.

  • Hands-free voice control will allow officers to manage licence plate recognition, emergency systems, radios, and in-car devices, reducing distractions and enhancing responsiveness.

  • Integration with Mobile Data Terminals will provide real-time access to dispatch, criminal databases, and incident reports.

  • Rekor Scoutā€™s existing global footprint in over 90 countries will use existing high-resolution vehicle cameras, eliminating the need for additional hardware.

This collaboration aims to set a new standard in law enforcement technology, enhancing operational effectiveness within the field.

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

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