Lyft, FREENOW, Panasonic & Trade Deals: This Week's EV Top 5
Will Lyft’s US$200m FREENOW Deal Help it Beat Uber in Europe?
Lyft confirms the acquisition of FREENOW for US$200m following regulatory clearance, marking its first expansion beyond North America and securing a foothold in nine European countries including the UK, Germany, Spain and Italy.
The move gives the US rideshare company immediate access to 180 cities across the continent where FREENOW already operates.
Both companies start linking their platforms from 7 August 2025.
Passengers travelling between regions will be prompted to download the corresponding app, either Lyft in North America or FREENOW in Europe, until full platform integration is achieved.
Mobilising private capital could be key to building inclusive, climate-smart infrastructure and aligning global finance with sustainability goals
As the Paris Agreement's deadline of 2030 approaches, aligning global finance with sustainability goals is becoming critically important.
With trillions of dollars in infrastructure investments at stake, the need for industries to take decisive action becomes increasingly evident.
Trade restrictions and regulatory shifts are reshaping how original equipment manufacturers (OEMs) source critical materials for EVs.
Rare earth elements (REEs), essential for modern vehicle components, are at the centre of a growing geopolitical struggle, one that threatens the stability of EV production worldwide.
At present, China dominates both the mining and processing of REEs, accounting for 60% of total production and 90% of global processing capacity.
This dominance gives it a unique grip on a supply chain crucial to the electric vehicle sector.
In response, countries and automakers are now rethinking how they secure materials like neodymium, dysprosium, lithium and terbium, metals vital to EV traction motors and other magnetic components.
The recent trade deal between the United States and the European Union, unveiled by US President Donald Trump and European Commission President Ursula von der Leyen, is poised to have a notable impact on the EV sector as it reshapes transatlantic economic relations.
Announced after discussions at President Trump’s golf resort in Scotland, the agreement introduces a 15% tariff on most European goods entering the US, while requiring the EU to significantly increase its investment in American energy and defence products.
These changes are rippling through multiple industries, influencing how EV manufacturers conduct business across borders.
While many view the deal as favouring US interests by creating clear economic benefits, European nations are faced with increased costs and the need to realign their trade strategies to accommodate these new tariffs.
The deal's structure is perceived by some industry leaders as imbalanced, benefiting US exporters at the expense of their European counterparts.
The International Energy Agency (IEA) expects EV sales to grow 25% in 2025, but without batteries these vehicles cannot go anywhere
Among the industry’s key players is Panasonic, with more than three million EVs powered by its batteries as of December 2023.
Panasonic is powering EV progress with battery innovation, scaling up in the US and driving sustainability through circular supply chains and net zero plans.
