BRIEFLY: EV Intent, Honda, Slate & more | 15 May 2026
About this episode
EV consumer intent stays strong, but “Charging availability is still the top barrier.” Honda’s EV push hits a financial snag—“they blamed EV right-offs”—and its CEO is “abandoning their combustion-free plan for 2040” in favor of hybrids plus prototypes. In commercial vehicles, Trayton Group raised €850 million to speed battery-electric drivetrain development, while UK buyers get support via the “£5,000 plug-in van grant.” Across Europe, BYD confirms UK Atto 2 pricing and Polestar reframes worries as “pump anxiety.”
It's EV News Briefly for Friday 15 May 2026, everything you need to know in less than 5 minutes if you haven't got time for the full show.
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JD POWER SAYS EV INTEREST IS HOLDING UP
Consumer interest in EVs remained steady despite plateauing sales, with 26% of new-vehicle shoppers in April 2026 saying they were "very likely" to consider an EV — up 3 points month on month — partly driven by rising fuel costs. Charging availability remained the top barrier at 46%, though concerns around cost and charging time all eased year on year.
HONDA SWINGS TO LOSS AS HYBRID STRATEGY HARDENS
Honda posted its first operating loss since going public in 1957, recording a ¥414.3 billion ($2.6 billion) operating loss for the fiscal year ended March 2026, driven by ¥1.57 trillion in EV-related write-offs. CEO Toshihiro Mibe abandoned the 2040 combustion-free target and pivoted to 15 new hybrid models through 2030, with two prototypes — a fastback sedan and a red crossover — unveiled in Tokyo on May 14.
SLATE AUTO PLANS 392 MICHIGAN JOBS
Slate Auto plans to add 392 jobs and invest $10.4 million at its Troy, Michigan headquarters over five years, nearly doubling its Michigan workforce ahead of its low-cost electric pickup launch later in 2026. The Bezos-backed company, now led by CEO Peter Faricy following a leadership change in March, will focus new roles on engineering, design, and R&D, with positions starting at $43 per hour.
TOYOTA HILUX ADDS EV FOR 2026
Toyota will launch the ninth-generation Hilux in 2026 with both a fully electric and a diesel version, with the electric model reaching UK customers first in June in Icon (£52,845 after grant) and Invincible (£55,695 after grant) trims. Both electric variants qualify for the UK government's £5,000 plug-in van grant and come in a Double Cab body style, with a two-seat commercial conversion to follow later in 2026.
VAUXHALL MATCHES EV AND DIESEL VAN PRICES
Vauxhall has achieved finance and lease price parity between the electric and diesel versions of its Combo and Vivaro vans, with the Combo Electric available from £305 per month and the Vivaro Electric from £335 per month — both matching their diesel equivalents on 36-month, 10,000-mile terms. The parity has been extended to the Astra and Frontera passenger cars as part of a wider brand strategy to remove the cost barrier to electrification.
TRATON RAISES €850 MILLION FOR EV DRIVE
Volkswagen-majority-owned Traton Group has raised €850 million to accelerate battery-electric drivetrain development across MAN, Scania, International, and Volkswagen Truck & Bus. Battery-electric vehicle sales across the group grew to 1.4% of total sales in Q1 2026, up from 0.9% in Q1 2025, with MAN and Scania both expanding their electric lineups.
RENAULT CLAIMS EDGE OVER CHINESE RIVALS
Renault CEO François Provost claimed the group's European manufacturing efficiency surpasses Chinese rivals, while acknowledging it still uses Chinese supply chains and a China development centre to bring new models to market in under 24 months. With French and European plants running at 85% capacity and momentum from models like the electric Renault 5, Renault is deepening ties with Nissan — both holding 15% stakes in each other — while Nissan's CEO signalled desire for a closer partnership.
BYD ATTO 2 DM-I PRICED FOR UK
BYD has confirmed UK pricing for the Atto 2 DM-i plug-in hybrid SUV, with orders opening 2 June 2026 and first deliveries in August. The Active trim starts at £26,995 with a 7.8kWh battery and 24 miles of EV range, while the Boost costs £29,995 with an 18kWh battery and up to 55 miles of EV range.
OMODA-JAECOO MAKES A FAST UK START
Jaecoo and Omoda launched in the UK in March 2025 with immediate impact — the Jaecoo 7 became that month's best-selling car, and by year-end over 26,000 units had sold, making it the fourth most popular retail car in the UK. The brand reached a 1.4% UK market share, ahead of Seat and Suzuki, built on Range Rover Evoque-inspired styling, competitive pricing, and strong dealer incentives.
POLESTAR SAYS FUEL SHOCK DRIVES EV DEMAND
Polestar CEO Michael Lohscheller said "pump anxiety" has overtaken "range anxiety" as the key driver of EV consideration, with WTI and Brent crude up 50% since late February due to disruption at the Strait of Hormuz. Polestar is seeing rising demand for both new and used EVs as a result, though eroding US tax incentives and broader cost pressures continue to make the American market challenging.
EV right-offs
"Recording a $2.6 billion operating loss for the fiscal year to the end of March, they blamed EV right-offs and, in a reaction to that, the boss, the CEO, Toshihiro Mimei, abandoning"
When a company says it took “right-offs,” it means it decided some EV projects won’t pay off the way it hoped. So it records that loss immediately in its financial statements.
“EV right-offs” refers to accounting charges where a company writes down the value of EV-related investments (like programs, tooling, or capitalized development costs). It effectively turns expected future EV benefits into an immediate expense, which can create a large operating loss.
combustion-free plan for 2040
"the boss, the CEO, Toshihiro Mimei, abandoning their combustion-free plan for 2040, the world's going to be totally combustion-free by then, but they say they can't do it"
A “combustion-free” plan means a goal to stop using gas/diesel engines. Here, the company is saying it can’t stick to that 2040 goal and will change its approach.
A “combustion-free plan for 2040” is a corporate roadmap aiming to eliminate internal-combustion engines (gasoline/diesel) by that year. In this segment, Honda is described as abandoning that target and pivoting to other powertrain strategies instead.
gas-guzzling hybrids
"but they say they can't do it, but rather they'll pivot to 15 new gas-guzzling hybrids and two prototypes unveiled in Tokyo, a fastback and a red crossover"
“Gas-guzzling hybrids” is a critical phrasing for hybrid vehicles that still rely heavily on gasoline. In EV news, it usually signals a pivot toward partial electrification rather than a full shift to battery-electric vehicles.
Toyota Hilux
"Toyota will launch the ninth generation Hilux this year. It'll be fully electric and, of course, for those that still want it, a dirty diesel is coming."
The Toyota Hilux is a popular pickup truck. The big news here is that Toyota plans an all-electric version of the next (ninth) generation Hilux.
The Toyota Hilux is a long-running pickup model known for rugged, work-focused use. This segment says Toyota is launching the ninth generation Hilux as a fully electric vehicle, which is notable because the Hilux nameplate is traditionally associated with diesel and gasoline powertrains.
fully electric
"Toyota will launch the ninth generation Hilux this year. It'll be fully electric and, of course, for those that still want it, a dirty diesel is coming."
“Fully electric” means the truck runs on electricity from a battery, not gas or diesel. There’s no engine that burns fuel to move the car.
“Fully electric” means the vehicle is powered only by an electric motor and a battery pack, with no gasoline or diesel engine driving the wheels. In the context of pickups like the Hilux, it signals a shift away from internal-combustion drivetrains.
dirty diesel
"It'll be fully electric and, of course, for those that still want it, a dirty diesel is coming."
“Dirty diesel” is a negative way of saying diesel engines produce more pollution than cleaner options. Here it’s used to contrast with the new electric Hilux.
“Dirty diesel” is a loaded way to describe diesel engines as higher-emissions compared with cleaner alternatives. In EV coverage, it’s often used to contrast diesel offerings with EVs and to emphasize environmental concerns.
plug-in van grant
"Both electric variants do get the UK government's £5,000 plug-in van grant in a double cab body style, but there's still a huge amount of money."
A plug-in van grant is money the government gives to help lower the cost of certain electric vans. Here, it’s described as a £5,000 grant for the electric versions they’re discussing.
A plug-in van grant is a government incentive that reduces the purchase cost of qualifying electric (plug-in) commercial vehicles. In this segment, it’s referenced as a £5,000 UK government grant that applies to the electric double-cab van variants.
Vauxhall Vivaro
"Vauxhall has achieved finance and lease-price parity between the electric and diesel versions of their vans, so Vauxhall make the Combo and the Vivaro, which is the larger one."
The Vauxhall Vivaro is a bigger van than the Combo. They’re discussing the electric Vivaro and comparing its monthly finance cost to the diesel version.
The Vauxhall Vivaro is a larger van model in the Vauxhall lineup. The segment focuses on its electric variant and the idea of matching finance/lease pricing against diesel versions over a defined term and mileage.
Vauxhall Combo
"Vauxhall has achieved finance and lease-price parity between the electric and diesel versions of their vans, so Vauxhall make the Combo and the Vivaro, which is the larger one."
The Vauxhall Combo is a van model sold in the UK. Here, they’re talking about the electric version and how its monthly lease/finance cost is being made similar to the diesel version.
The Vauxhall Combo is a compact van line from Vauxhall (a UK brand within GM/Opel history). In this segment, the hosts discuss its electric version and how its finance pricing is being positioned to match diesel equivalents.
finance agreement
"electric starts at £335 a month on finance, again both matching their dirty diesel equivalents on a 36-month, 10,000-mile finance agreement."
A finance agreement is the deal that spells out how you pay for a vehicle over a fixed period. They mention the length (36 months) and the mileage limit (10,000 miles) when comparing costs.
A finance agreement is the structured contract for paying for a vehicle over time, typically with a set term and mileage allowance. Here, the hosts cite a 36-month, 10,000-mile finance agreement to compare electric and diesel van costs.
Opel Astra
"Agreement. That's the same as they do with their Astra and Frontera passenger cars, by the way, price pa..."
The Opel Astra is a regular passenger car meant for everyday driving, like commuting and family trips. It’s often mentioned in business or sales discussions because it’s one of the brand’s common models.
The Opel Astra is a compact passenger car (a mainstream “small family car” size) made by Opel, typically discussed as part of the brand’s broader lineup and pricing or distribution agreements. In EV-focused news, it may come up when companies talk about how they handle passenger-car programs, supply deals, or transitions across models like the Astra and other Opel passenger vehicles.
battery electric drivetrain development
"Trayton Group, or Volkswagen Majority-owned Trayton Group, has raised €850 million, accelerating battery electric drivetrain development for MAN, Scania, International and Volkswagen Truck and Bus."
Battery-electric drivetrain development means improving the main EV hardware that makes the car move. It’s the system that includes the battery and electric motor setup, and the segment says new money is meant to speed up that work.
Battery electric drivetrain development refers to engineering the full powertrain for battery-electric vehicles—how the battery, electric motors, power electronics, and related systems work together. The segment ties this to Trayton Group’s funding aimed at accelerating EV drivetrain work for multiple truck and bus brands.
Trayton Group
"Volkswagen-owned Trayton Group, or Volkswagen Majority-owned Trayton Group, has raised €850 million, accelerating battery electric drivetrain development for MAN, Scania, International and Volkswagen Truck and Bus."
Trayton Group is a company connected to Volkswagen that works with commercial-vehicle brands. Here, they’re raising money to help those brands build electric truck/bus technology faster.
Trayton Group is a Volkswagen-majority-owned company involved in commercial-vehicle brands. In this segment, it raises €850 million to accelerate battery-electric drivetrain development across multiple truck and bus makers.
Renault
"Renault's CEO, Francois Bravost, said that their European manufacturing efficiency surpasses even the Chinese rivals, acknowledging it still uses Chinese supply chain parts, and their Chinese Development Centre is very heavily involved at Renault, bringing new models online in less than 24 months."
Renault is a car company. They’re talking about how efficiently Renault builds cars in Europe and how fast it can launch new models, including support from China.
Renault is a major European automaker, and the segment discusses its manufacturing efficiency and how quickly it can bring new models online. The hosts also mention Renault’s reliance on parts from China and involvement of a Chinese development center.
China speed
"That is lightning speed. They call it China speed, with French and European plants at Renault running at 85% capacity"
“China speed” is a phrase meaning “move really fast” when launching new car models. In this segment, it’s used to describe Renault’s ability to start new models quickly while running factories at high output.
“China speed” is a business shorthand for the rapid product-development and manufacturing ramp-up pace associated with many Chinese automakers. Here, Renault’s CEO uses it to describe how quickly Renault can bring new models online using French/European plants operating at high capacity.
85% capacity
"They call it China speed, with French and European plants at Renault running at 85% capacity"
“85% capacity” means the factory is using most of its production capability. Higher utilization can help keep costs down and support faster production.
Factory capacity is how much of a plant’s production capability is being used. Running at 85% capacity suggests high utilization, which can improve cost efficiency and help support faster model launches.
5 Renault 5
"He says that Renault is in good shape. The new Renault 5 doing really well in France. BYD confirming UK pr..."
The 5 E-Tech Electric is a fully electric car based on the Renault 5 name. It runs on a battery and is charged instead of using gasoline, and it’s getting attention because it’s selling well in some places.
The 5 E-Tech Electric is an all-electric version of the Renault 5 nameplate, and it’s being discussed because it’s performing strongly in markets like France. EV news often highlights models like this when they show demand, production progress, or business momentum for electric vehicles.
BYD Atto 2
"BYD confirming UK pricing for the Atto 2, orders open 2 June."
The BYD Atto 2 is BYD’s smaller electric car. They’re talking about the UK price and when people can start ordering it.
The BYD Atto 2 is BYD’s compact electric crossover/hatch-style EV positioned as an affordable entry EV. This segment focuses on its UK pricing and availability timing, and it also ties into the battery/range discussion that follows.
18-kilowatt-hour pack
"That's going to be 55 miles of range on an 18-kilowatt-hour pack in less than £30,000"
The 18-kilowatt-hour pack is the size of the car’s battery. A smaller battery usually means less driving range, but how efficiently the car uses energy also matters.
An 18-kilowatt-hour (kWh) battery pack is the amount of electrical energy stored in the EV’s battery. Smaller kWh packs generally mean less total energy available, which can translate to shorter range—though efficiency and vehicle design still matter a lot.
pump anxiety
"and Polestar CEO Michael Loschela said that pump anxiety is the new range anxiety. You never know what the price is going to be because of conflicts in the Middle East"
Pump anxiety is the worry that you won’t be able to charge or fuel up when you need to. In EV terms, it’s more about finding a working charger than just having enough battery range.
Pump anxiety is the fear or worry that you won’t be able to fuel up when you need to—here used in an EV context to describe charging anxiety. The host quotes Polestar CEO Michael Loschela framing it as the “new range anxiety,” meaning the concern shifts from “will I have enough range?” to “will I find/need a working charger?”
range anxiety
"and Polestar CEO Michael Loschela said that pump anxiety is the new range anxiety. You never know what the price is going to be because of conflicts in the Middle East"
Range anxiety is the worry that your EV won’t have enough battery to get where you’re going. The point here is that people may worry more about charging stations than about the battery itself.
Range anxiety is the fear that an EV won’t have enough battery to reach the next charging stop. The segment contrasts it with “pump anxiety,” suggesting that as EVs improve, the dominant worry may shift toward charger availability, reliability, and charging logistics.
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