👋 Watts up? Last month, we covered some rumours surrounding Xiaomi’s upcoming EV, fast forward to today, and Xiaomi has officially announced details surrounding its specifications and release. Not only does the car look great, but it also boasts over 680hp, a top speed of almost 160mph, and a price tag of under $30k. Meanwhile, Arevon Energy has announced the commission of its Eland 1 solar farm, which is set to be one the largest in the U.S. Learn more on these stories, and others, in todays issue.

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QotD: Which electric car has the fastest 0-100km?

MARKETS

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ELECTRIC VEHICLES

Xiaomi Unveils the YU7 – a Model Y Competitor

🚗 Xiaomi has unveiled details about its new flagship electric SUV, the YU7, following the success of its SU7 sedan. The announcement, made via the company’s Weibo account, highlights Xiaomi’s ambition to expand its presence in the EV market.

• The YU7, resembling a blend of McLaren and Porsche designs, is similar in size to Tesla’s Model Y. It features a dual-motor configuration, producing 681 hp, and offers a top speed of 157 mph.

• Powered by a CATL lithium-ion battery, the YU7 will be manufactured in partnership with BAIC at Xiaomi’s Shanghai facility, with a launch planned for mid-2025.

• Pricing may mirror the SU7’s base price of 215,900 yuan (~$29,700), despite the SUV’s larger size and advanced specifications.

• Xiaomi’s HyperOS ensures seamless integration across its devices, a key factor in the SU7’s popularity, which surpassed 100,000 units in 2024.

• Industry recognition, including praise from Ford CEO Jim Farley, signals the growing popularity of Chinese EVs.

With the YU7 set to build on the momentum of the SU7, Xiaomi is reinforcing its position in the EV market, challenging established market players.

INFRASTRUCTURE

More Updates on BYD’s Blade Battery

🔋 BYD plans to launch its second-generation blade battery in the first half of 2025, aiming for a 15% cost reduction and significant performance improvements. This move reinforces BYD’s position in the highly competitive EV battery market, where rivals like CATL dominate.

• The second-generation blade battery will come in two formats: short blades (160 Wh/kg, 16C discharge, 8C charge) for rapid energy transfer, and long blades (210 Wh/kg, 8C discharge, 3C charge) for higher energy density.

• While the high-density version will cost 15% less than its predecessor, the short blade version may have a slightly higher price due to complex production processes.

• With battery prices forecast to drop significantly—Goldman Sachs predicts a 50% decline by 2026—BYD’s innovation is timely.

• BYD’s market share reached 24.4% in 2024, second only to CATL, whose aggressive pricing has intensified competition in the budget and premium battery segments.

By enhancing energy density and cost efficiency, BYD is well-positioned to challenge CATL’s dominance and advance its battery technology.

CLEAN ENERGY

Arevon Energy Announces the Commissioning of Eland 1

☀️ Arevon Energy has commenced operations at the Eland 1 Solar-plus-Storage project in Kern County, California. The project will boast a 384 MW solar production capacity and 150 MW/600 MWh of energy storage.

• Eland 1 integrates solar panels and batteries, enabling reliable energy delivery during peak demand periods and enhancing grid resilience.

• A second phase, operational by 2025, will expand total capacity to 758 MWdc of solar and 300 MW/1,200 MWh of storage, ranking the project among the largest in the U.S.

• The construction phase supported 325 jobs and will generate over $18 million for local governments, benefiting schools and emergency services.

• Arevon has secured a long-term power purchase agreement with Southern California utilities, ensuring a stable energy supply.

Kevin Smith, CEO of Arevon, highlights the company’s dedication to clean energy. He noted that the Eland project exemplifies how renewable energy initiatives can simultaneously deliver reliable power, foster job creation, and boost economic growth.

TECHNOLOGIES

Moove Announces Fleet Partnership with Waymo

📱 Moove has announced a landmark partnership with Waymo to manage its fully autonomous, all-electric fleet through the Waymo One app. Launching in Phoenix in 2025 and expanding to Miami by 2026, this marks the first commercial collaboration of its kind for Waymo's service.

• Moove will oversee fleet operations, including facilities and charging infrastructure, while Waymo focuses on its autonomous driving technology.

• The partnership aims to enhance safety, reduce congestion, and promote sustainability, addressing global traffic inefficiencies and environmental challenges.

• Waymo’s advanced Waymo Driver technology combined with Moove’s expertise in fleet management promises reliable and seamless autonomous ride-sharing.

• Moove’s U.S. expansion builds on its global presence, with operations in 12 markets, over 30,000 entrepreneurs supported, and 50 million trips completed.

By blending autonomous technology with Moove’s fleet capabilities, the collaboration seeks to transform urban mobility and set a new standard for the future of transportation.

WATT ELSE?

• Mercedes-Benz Trucks delivers first eActros 600 to customers

• Start-up Greenie Energy acquires $600,000 in funding

• Otter Tail Power reveals new 345 MW solar project

• Gapwaves secures order from a new automotive tier 1

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Answer: McMurtry Speirling, at 1.5 seconds

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