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EVs
Beta revenue soars in first earnings since IPO
Electric aircraft maker Beta Technologies saw revenue more than double in its first earnings report since going public, though its net loss expanded. Revenue was US$8.92 million, up from $3.07 million one year ago. Its net loss per share was $9.83, compared with a loss of $1.81 last year, which it said was impacted by a loss when issuing convertible preferred stock. “It’s been an incredibly exciting time at BETA following our recent listing on the New York Stock Exchange last month,” said Beta CEO Kyle Clark. “As a newly public company, we remain firmly grounded in what makes BETA unique — our simple, stepwise approach, our vertical integration and our focus on designing and manufacturing the complete electric aviation ecosystem to meet the needs of customers around the world.” Product revenue was $2.92 million, up from $799 million, which the company credited to ahead-of-schedule motor deliveries. Service revenue climbed to $6 million from $2.27 million. Its loss from operations grew to $80.57 million, from a loss of $73 million last year. Operating expenses increased from $74.88 million to $86.75 million, driven by a rise in both administrative and research and development costs. Beta’s civil aircraft backlo
EVs
Beta to supply US$1bn in motors to air taxi maker Eve
Aircraft maker Beta Technologies will supply up to US$1 billion in electric motors to air taxi company Eve Air Mobility, leading to a surge in both companies’ share prices. Eve was started by Brazilian aerospace manufacturer Embraer in 2020. The first flights for its electric vertical takeoff and landing (eVTOL) aircraft are set for the end of 2025 or early 2026. “Integrating Beta Technologies into our supply chain is a pivotal milestone in advancing our eVTOL program,” said Eve CEO Johann Bordais. “Their electric motor technology will play a critical role in powering our aircraft during cruise, supporting the maturity of our propulsion architecture as we progress toward entry into service.” Beta is also developing electric aircraft, including eVTOL vehicles, and launched an initial public offering in November. Its first electric passenger flight was in June. Under the 10-year deal between Eve and Beta, Beta’s electric pusher motors will be added to both Eve’s prototypes and production aircraft. The companies have already completed a trial period where Eve tested the performance of these motors in its prototype aircraft. Eve has a backlog of 2,800 eVTOL orders, the company said. Its aircraft include an electric p
EVs
Australian EV sales soar to their highest level
Electric car sales reached record highs in Australia while internal combustion engine (ICE) sales dipped below 70% for the first time. The data from the Australian Automobile Association (AAA) showed that Battery electric vehicle (BEV) sales accounted for 9.7% of the market during the September quarter, up from 9.31% in the June quarter. While BEV sales have been steadily rising in market share, ICE vehicle shares have been dropping and fell to 69.65% during the September quarter, marking a dramatic decrease from 72.03% in the June quarter. The market share for ICE vehicles was even lower in NSW (68.74% and Victoria (68.04%). In the Australian Capital Territory petrol petrol-powered cars accounted for less than half of all new cars sold. Despite its decline, ICE remained the leading fuel type across all market sales, except in medium cars, where hybrids (40.70%) and BEVs (40.27%) dominated. Hybrids have also been on the rise, accounting for 16.52%, the second-highest total quarterly sales since the quarterly EV index was created in 2023. Medium SUVs remained the most popular vehicle segment for Australians, accounting for 26.06% of the market share in the September quarter. The Electric Vehicle Council’s head
EVs
Over 300,000 Jeep hybrids recalled for fire danger
Hundreds of thousands of Jeep SUVs have been recalled for fire danger after battery failures, with owners being urged to park the vehicles outside for safety. Stellantis, the parent company for 14 car brands including Jeep, issued the recall notice on Tuesday for plug-in-hybrid Jeep Wrangler and Grand Cherokee SUVs globally, after 19 reports of fires. The recall specifically covers some of the 2020 through 2025 Jeep Wrangler 4xe's and 2022 to 2026 Jeep Grand Cherokee 4xe SUVs. The recall covers some 2020 through 2025 Jeep Wrangler 4xe and 2022-2026 Jeep Grand Cherokee 4xe SUVs. The National Highway Traffic Safety Administration (NHTSA) reported that Stellantis had confirmed 19 fires and one injury linked to the issue, and while 320,000 of the recalled vehicles are in States, the total number affected is expected to sit at 375,000 globally. The batteries, produced by Samsung SD, are no strangers to recall notices An investigation by Stellantis and Samsung SDI determined that a fire earlier this year was caused by the same defect, also reported in a 2024 recall of 154,000 plug-in hybrid Jeep EVs, which at the time came as a result of two injury reports. The NHTSA confirmed that vehicles that were already repaire
EVs
Lucid to launch new autonomous EV with Nvidia
Lucid Group has announced plans for a new mid-size electric vehicle with self-driving capabilities and computer chips from Nvidia. The car will be a world first, as a consumer-owned Level 4 autonomous vehicle, described by Lucid as having “eyes-off, hands-off, mind-off” capabilities. It will be one of the closest vehicles on the market to fully automated, Level 5 technology and in terms of price and size, it is expected to sit just below the Lucid Air sedan, which ranges between US$71,400 and US$250,500. The Silicon Valley-based tech company plans to utilise sensors, cameras, radar and lidar for the self-driving system and will kick off their new generation of cars using Nvidia's DRIVE AGX Thor chips, which are expected to compete with the EV industry leader, Tesla. Lucid will also expand to using Nvidia's software tools in its factories to speed up production and increase quality. “Our vision is clear: to build the best vehicles on the market,” said Marc Winterhoff, Interim CEO of Lucid. “Now, we’re taking the next step by combining cutting-edge AI with Lucid’s engineering excellence to deliver the smartest and safest autonomous vehicles on the road."

EVs
Telsa stock reverses as records fail to impress
Shares in automotive giant Tesla fell after it reported lower-than-expected results for the third quarter of the 2025 financial year (Q3 FY25). The electric vehicle to clean energy giant said net income fell 29% to US$1.77 billion (A$2.72 billion) and diluted earnings per share (EPS) plunged 31% to 50 cents in the three months ended 30 September 2025. The factors driving income down included higher operating expenses, an increase in share-based compensation, restructuring and other charges, higher average costs per vehicle, an increase in tariffs and a change in sales mix. Revenue jumped 12% to a record $28.1 billion due to an increase in vehicle deliveries, growth in Energy Generation and Storage, Services and other income and despite lower regulatory credit revenue and lower self-driving (FSD) revenue. “In Q3, the Tesla team achieved record vehicle deliveries globally, showing strength and growth across all regions, while also achieving record energy storage deployments across the residential, industrial and utility sectors,” the company said in its Q3 2025 Update. “This strong performance resulted in both record revenue and free cash flow generation in the quarter.”Credit: TeslaTesla introduced lower-cost variant
EVs
Mission Critical: How BYD made China a leader in EVs
A Shenzhen-based car manufacturer that has seemingly popped up overnight has now beaten Tesla in Europe, posted US$115 billion (A$176.7 billion) in annual revenue and shipped 4.27 million vehicles in 2024, capturing 18% of the worldwide EV sector. Here we look at how Chinese carmaker BYD catapulted itself from a battery manufacturer to the world's largest EV manufacturer; and how it's spearheading a plethora of Chinese automakers that are now simultaneously producing vehicles cheaper, higher in quality and more innovative than legacy brands. Azzet’s Mission Critical is a weekly column that lays out the ebbs and flows around critical minerals supply chains - from pricing, production, refinement and mergers & acquisitions, to manufacturing and consumer products. April 2025 caught some analysts by surprise as BYD's EU registrations jumped 359% year-over-year, while Tesla's volumes dropped 49%. Yet with a commanding six of the world's top ten EV sellers, China now controls 70% of global EV production, and in developing nations such as Brazil and Thailand, they've locked up 85% of all EV deliveries. Meanwhile, Volkswagen, BMW, and Mercedes-Benz are watching their market foothold evaporate in China, where German OEMs had
EVs
EV safety and Model Y door handles under the microscope
Electric vehicle safety has been put to the test in a new range of safety trials by the Insurance Institute for Highway Safety. The results from IIHS, published earlier this month, showed that the seven electric vehicles tested for safety were found to provide both high-quality protection for the driver and decent protection for rear passengers, with some differentials appearing across the vehicles for the latter. The 2025 BMW i4, Chevrolet Blazer EV, Ford F-150 Lightning, Nissan Ariya, Tesla Cybertruck, Tesla Model 3 and Volkswagen ID.Buzz were the vehicles selected for the series of tests. The IIHS, an independent non-profit organisation, found that the i4, Blazer EV, Cybertruck and ID.Buzz all earned a top rating of “good” when it came to rear passenger protection, while the Ford F-150 Lightning and Nissan Ariya were the worst performing and scored a rating of “poor”. This comes shortly after concerns were raised by both China and the United States about the safety of retractable Tesla door handles. The handles could be banned in China as soon as 2027, with a draft of the new national standard for car door handle safety published this week, which could see Tesla having to redesign all of its door release systems.
EVs
Reversing Tesla defies trend as mega-companies grow
The big kept getting bigger in the uppermost echelons of the corporate world in the last financial year, except for the world’s richest man. South Africa-born Elon Musk was facing the risk of having to return to the country of his birth as the value of his electric vehicle maker Tesla (NASDAQ: TSLA) dropped in the 2025 financial year, the latest data shows. Musk, who United States President Donald Trump has threatened to deport as the feud between the former political allies re-escalates, watched as Tesla’s market capitalisation fell by 8.3% to US$1.02 trillion (A$1.54 trillion), according to Reuters. He remains richer than anybody else with a fortune estimated at US$381 billion, based on his stakes in Tesla, SpaceX and xAI. NVIDIA (NASDAQ: NVDA) reclaimed its position as the world’s largest company based on market capitalisation as its shares rose 17% on surging demand for its computer chips which are used in artificial intelligence (AI) applications. NVIDIA was valued by the market at US$3.86 trillion at the end of June, outranking Microsoft (NASDAQ: MSFT) in second place at $3.69 trillion, and leaving Telstra trailing in 10th place.Source: ReutersBut it still falls short of Apple's (NASDAQ: AAPL) worth of about $