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The most innovative companies in automotive for 2025

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Tuesday, March 18, 2025

You know the dream: electric vehicles that can drive straight from New York to Chicago without needing to top off the battery. Robotaxis at your beck and call. Amphibious cars. The promise of next-generation travel hasn’t fully materialized yet, but legions of companies around the world are focused on bringing the vision to life.This year’s list of the most innovative automotive companies recognizes both the upstarts and the incumbents advancing the next era in mobility. As the industry grapples with the larger questions of how to create viable solid-state batteries or commercialize robotaxi service, the companies listed here are focused on the incremental steps toward a fully autonomous future.The result is EV technology that makes the erstwhile novelty car more powerful, more affordable, and more ubiquitous. China’s largest car company, BYD, became the world’s second-biggest EV maker in 2024 due to the rollout of its ultra-affordable models such as the $11,000 Seagull as it grows its global footprint.Meanwhile, Southern California-based startup Rivian is disrupting the domestic EV industry with ultraefficient battery packs that can carry its pickup trucks and SUVs more than 400 miles on a full charge.Some companies, like Northbrook, Illinois-based UL Solutions, are focused on making batteries safer and more reliable, while others focus on what to do with the batteries once they reach the end of their life cycle. Mercedes-Benz, which returns to the list for the second consecutive year, became the first car manufacturer to close the loop with an in-house battery recycling plant in Kuppenheim, Germany.Of course, digital and connected features are becoming crucial to the user experience, and Nvidia, Qualcomm, and LG Electronics are racing to develop the computing power for faster processing and seamless service.But for now, keep your eyes peeled on the road for Waymo, which tops our list this year, as it rolls out commercial robotaxi service around the U.S. and possibly in a city near you.1. WaymoFor making robotaxis part of the streetscapeAfter 15 years, the original Google moonshot looks like it’s finally starting to reach escape velocity. Launched in 2009 as Google’s self-driving car unit, Waymo had its share of false starts before it began offering a limited version of its driverless ride-sharing service to customers in Phoenix in 2020. But in recent months, Waymo has emerged as the company ushering robotaxis out of the sci-fi realm and into reality. It’s paving the way for autonomous vehicles in five major U.S. cities, setting the bar for safety, transparency, and regulation for all other competitors, especially Tesla. And it’s making the general public comfortable with what now seems will be an inevitable part of the urban landscape. With wide-scale operations in San Francisco and Phoenix (and a limited rollout in Los Angeles), Waymo has been growing quickly—even with its emphasis on scaling responsibly. It is partnering with Uber and rolled out service in Austin in March, with plans to launch in Atlanta. Waymo also unveiled its Generation 6 automated driving system, an enhanced-technology suite designed handle tougher weather conditions. In October, the Waymo One taxi fleet reached 1 million autonomous miles driven. Waymo has made real what seemed unimaginable 15 years. It’s proven that Alphabet’s moonshot strategy can work.Read more about Waymo, honored as No. 1 on Fast Company’s list of the World’s 50 Most Innovative Companies of 2025.2. BYDFor making EVs that are ultra-affordable, ultrafast, and even amphibiousAfter almost 30 years as a battery supplier to mobile phone manufacturers, BYD has found explosive growth as an EV maker, catapulting over competitors to become a global juggernaut. The Warren Buffett-backed Chinese company shifted to building cars nearly two decades ago, applying its expertise in producing lithium iron phosphate (LFP) batteries to develop reliable, sub-$35,000 EVs. But the mid-2023 launch of BYD’s most affordable model—the four-figure Seagull compact car—ignited BYD’s exponential sales run. Boasting an all-electric range up to 252 miles, the Seagull became China’s top seller in August 2024 and solidified BYD’s status as the country’s largest automaker. But BYD isn’t focused only on affordability. Shipments of its first supercar, the $238,000 Yangwang U9, began in February. Today, BYD is running neck and neck with Tesla for the top spot among global EV makers and it is the undisputed champion of the plug-in hybrid sector, with 40% of that market. Last year, BYD delivered more than 3.8 million passenger vehicles in 2024—surpassing its full-year target of 3.6 million. The year also saw the company’s rapid expansion across Asia and into Mexico, South America, Europe, and Australia. In November, BYD produced its 10 millionth battery-powered vehicle, becoming the first automaker to reach that milestone, and announced a new Blade EV battery to power its future long-range EVs. The next-generation Blade technology is expected to increase driving range as well as battery life cycle. Whether BYD brings its cars to the U.S. is a question of geopolitics, but at least one top analyst says social media has helped spread the word among Gen Z and millennial shoppers, who are open to buying Chinese vehicles. “It’s only a matter of time before BYD is selling retail passenger vehicles in the U.S. market,” says Ed Kim, chief analyst at AutoPacific. “American consumers want them, and awareness of them is strong.”Read more about BYD, honored as No. 5 on Fast Company’s list of the World’s 50 Most Innovative Companies of 2025.3. UL SolutionsFor developing cutting-edge automotive battery and energy storage testingEV batteries can catch fire or explode in the event of a collision, mechanical failure, or weather catastrophe, making battery safety crucial as more electric vehicles hit the road. Northbrook, Illinois-based safety science company UL Solutions has emerged as a key player in the space, conducting rigorous tests to determine how EV batteries handle a host of hazards, from thermal runaway to electric shock. The company launched an initial public offering in April 2024 at a roughly $7 billion valuation, and four months later, it opened a 90,000-square-foot advanced battery lab in Auburn Hills, Michigan. The company’s largest-ever laboratory investment puts performance and safety testing under one roof. The state-of-the-art lab is one of the most extensive electric and hybrid vehicle and industrial battery testing laboratories in the U.S., conducting electrical, mechanical, and environmental testing against standards and goals set by the International Electrotechnical Commission, United Nations, Society of Automotive Engineers, and others. The company grew revenue 7.2% to $2.9 billion in 2024, thanks to business from customers in more than 110 countries. It plans to construct a new Advanced Automotive and Battery Testing Center in South Korea to serve more customers across the Asia Pacific region and to add EV charger testing.4. NvidiaFor powering the autonomous vehicle revolutionNvidia dominates the market for the semiconductors that power AI platforms in automotive and a range of other industries. Its GPUs are well-suited to the demands of AI model training, making Nvidia’s technology crucial to the creation and widespread adoption of self-driving cars. Top automakers from around the world (including BYD, Mercedes-Benz, Rivian, and Volvo) utilize the latest technologies from Nvidia (Drive AGX, Drive Orin, Drive Thor) to power their autonomous driving systems, and in early January 2024, Nvidia secured its pole position in the race to build better autonomous driving systems when it announced at CES that the world’s largest car manufacturer, Toyota, would be deploying its technology to build its next-generation vehicles. All this has put Nvidia on a tear, with revenue and market cap surging. In November, Nvidia replaced Intel on the Dow Jones Industrial Average.5. Mercedes-BenzFor advancing battery chemistry and developing a recycling economyMercedes-Benz is pulling ahead in the race to build a sophisticated battery economy. In October 2024, the automaker opened a state-of-the-art battery recycling factory in Kuppenheim, Germany. The factory—Europe’s first to house an integrated mechanical-hydrometallurgical process within a single plant—makes Mercedes the first automaker to close the ponderous battery recycling loop with its own in-house facility. Mercedes says the factory’s integrated process boasts a recovery rate of more than 96%, enabling a true circular economy of battery materials from old cars. The batteries come from test vehicles and production ramp-ups, as well as from returned vehicles from Mercedes-Benz. The plant will play a significant role in the battery life cycle, from shredding of battery modules to processing active battery materials to recovering scarce raw materials such as lithium, nickel, and cobalt. The downstream hydro-metallurgical process handles the “black mass,” the active materials that make up the electrodes of the battery cells. The factory, which began production in October 2024, is expected to generate enough material to produce more than 50,000 new battery modules annually. The knowledge gleaned from the project could help scale up production volumes in the medium- to long-term. Meanwhile, the automaker continues to roll out new EVs. In April, Mercedes-Benz launched an electric version of its rough-and-tumble G-Wagen truck, showing that electrification is possible for virtually any vehicle.6. RivianFor disrupting the EV industry with ultraefficient battery packsIt’s tough to start a car company. Just ask any of the fledgling EV companies that folded last year. The road has been rocky for Rivian, but the startup EV maker proved its staying power in June with the introduction of the second-generation R1S utility vehicle and R1T pickup truck. Together, the vehicles are challenging Tesla, General Motors, and other automakers thanks to their hearty, long-range power trains that are designed, engineered, and manufactured in-house. The second-generation battery packs offer up to 420 miles of range, while a new lithium iron phosphate-based battery pack can achieve an EPA-estimated 270 miles. Despite challenging sales, supply shortages, and layoffs, the company continues to plow ahead as a leader in the battery-electric sphere. In March, Rivian introduced a new midsize platform for smaller and more affordable vehicles, and followed that with the opening of its Rivian Adventure Network of DC fast chargers to all EVs. In October, the company announced that Volkswagen will invest $5.8 billion as part of a joint venture focused on developing vehicle software. In November, Rivian secured a $6.6 billion loan from the U.S. Department of Energy to revive its plans to build an EV factory in Stanton Springs, Georgia.7. LG Vehicle SolutionFor bringing entertainment into the carLG is leading the lucrative race to bring entertainment into the car. In 2024, the South Korean juggernaut showed that it can adapt its expertise in consumer electronics for in-vehicle use, tailoring its user-friendly entertainment technology for automotive customers including Hyundai and Kia. In May, LG debuted a new infotainment platform with the launch of the Kia EV3 compact utility vehicle. The system brings LG Channels, an expansive network of entertainment, news and other content, into the car, eliminating complex app-based logins. The following month, the company rolled out its AlphaWare suite of customizable software to help automakers integrate advanced software and connectivity features across their lineups as seamlessly as possible. The comprehensive system addresses five key areas powering the vehicle, such as PlayWare for infotainment and VisionWare for safety. In November, LG presented its vision for the future of automotive interiors: a Digital Cockpit gamma featuring a 12.3-inch transparent OLED screen displaying real-time navigation, current speed, and points of interest, as well as a 14.2-inch retractable plastic OLED display embedded in the center console. A handy AI-based virtual assistant can detect driver fatigue, order a coffee from a shop nearby, and help you pay for the transaction through the screen’s built-in fingerprint-recognition sensor.8. QualcommFor creating a scalable cloud-based platform for the automotive industryQualcomm is expanding beyond mobile phones, transferring its expertise in chip technology to the automotive industry as cars become a new computing space. The system-on-chip technology that Qualcomm has honed for mobile phones is becoming crucial for the automotive industry as it evolves toward centralized computing. In October, the chipmaker announced a significant advance in automotive semiconductor technology with the launch of a scalable platform based on its fastest CPU. Qualcomm’s ultrafast Oryon CPU will power the latest version of its Snapdragon Digital Chassis, comprised of Snapdragon Cockpit Elite, which supports in-vehicle experiences like entertainment, and Snapdragon Ride Elite, which provides automated driving capabilities. The Snapdragon Digital Chassis can handle parallel AI workloads, such as processing data from multiple sensors and cameras to prevent a collision. It also allows different systems—such as infotainment and safety systems—to operate independently, which enables the car to process different types of data faster to make better-informed decisions. The cloud-connected platforms give customers like General Motors, Mercedes-Benz, Rivian, BMW, Ford, Honda, and Hyundai the flexibility to develop features such as customizable dashboards and over-the-air updates after the car has been purchased. In February, Qualcomm reported robust Q1 2025 growth, with automative bringing in $961 million, representing 61% year-over-year growth. 9. MichelinFor creating sustainable tires to support next-gen EVsTires, perhaps the last part of a car to modernize, are finally undergoing a paradigm shift. Since 1960, cars have grown larger and heavier—increasing 21% in height, 14% in width, and 3% in length—putting more pressure on the tire, the humble component that supports the entire car. Now EVs, with their heavy batteries, are increasing weight by roughly 20%, an industrywide shift that necessitates more durable and more sustainable tires to support the extra heft. “Everything on electrification is pushing the market for bigger tires,” says Bruno de Feraudy, Michelin’s senior vice president of original equipment. Michelin’s Pilot Sport EV tires have been on the market since 2021, and at the 2024 Le Mans race in June, the company demonstrated a sustainable, track-oriented tire for the all-electric Porsche Cayman GT4 ePerformance race car. The motorsports tire at Le Mans is composed of 71% sustainable renewable and recycled raw materials, while the average tire uses 200 components that are difficult to recycle. These sustainable tires make greater use of rubber, recycled carbon black, oils such as sunflower oil and bio-sourced resins, silica from rice husks, and recycled steel.10. Formula 1For pioneering the hybrid technology powering passenger carsFormula 1 has shot to the cultural forefront with the Netflix documentary Drive to Survive, now in its seventh season, but it’s also the world’s foremost test bed for the hybrid technology that trickles down into passenger cars. In June 2024, its governing body, the Fédération Internationale de l’Automobile (FIA), announced the racing series’s most ambitious plans for going carbon neutral. The regulations, which go into effect in 2026, call for each team to build a power unit that derives half its power from a V6 turbo engine and half from its battery and electric motor. FIA’s ever-changing regulations breed innovation by requiring teams to continually reengineer their cars and push technology to the limit. Each car competing in Formula 1, arguably the world’s most technically advanced sport, features thousands of sensors taking more than 1 million data points per second to optimize performance as the driver hurls the car up to 225 miles per hour. The sport has more eyes on it than ever, gaining momentum stateside with the recent addition of Grand Prix in Miami and Las Vegas.Explore the full 2025 list of Fast Company’s Most Innovative Companies, 609 organizations that are reshaping industries and culture. We’ve selected the companies making the biggest impact across 58 categories, including advertising, applied AI, biotech, retail, sustainability, and more.

You know the dream: electric vehicles that can drive straight from New York to Chicago without needing to top off the battery. Robotaxis at your beck and call. Amphibious cars. The promise of next-generation travel hasn’t fully materialized yet, but legions of companies around the world are focused on bringing the vision to life.This year’s list of the most innovative automotive companies recognizes both the upstarts and the incumbents advancing the next era in mobility. As the industry grapples with the larger questions of how to create viable solid-state batteries or commercialize robotaxi service, the companies listed here are focused on the incremental steps toward a fully autonomous future.The result is EV technology that makes the erstwhile novelty car more powerful, more affordable, and more ubiquitous. China’s largest car company, BYD, became the world’s second-biggest EV maker in 2024 due to the rollout of its ultra-affordable models such as the $11,000 Seagull as it grows its global footprint.Meanwhile, Southern California-based startup Rivian is disrupting the domestic EV industry with ultraefficient battery packs that can carry its pickup trucks and SUVs more than 400 miles on a full charge.Some companies, like Northbrook, Illinois-based UL Solutions, are focused on making batteries safer and more reliable, while others focus on what to do with the batteries once they reach the end of their life cycle. Mercedes-Benz, which returns to the list for the second consecutive year, became the first car manufacturer to close the loop with an in-house battery recycling plant in Kuppenheim, Germany.Of course, digital and connected features are becoming crucial to the user experience, and Nvidia, Qualcomm, and LG Electronics are racing to develop the computing power for faster processing and seamless service.But for now, keep your eyes peeled on the road for Waymo, which tops our list this year, as it rolls out commercial robotaxi service around the U.S. and possibly in a city near you.1. WaymoFor making robotaxis part of the streetscapeAfter 15 years, the original Google moonshot looks like it’s finally starting to reach escape velocity. Launched in 2009 as Google’s self-driving car unit, Waymo had its share of false starts before it began offering a limited version of its driverless ride-sharing service to customers in Phoenix in 2020. But in recent months, Waymo has emerged as the company ushering robotaxis out of the sci-fi realm and into reality. It’s paving the way for autonomous vehicles in five major U.S. cities, setting the bar for safety, transparency, and regulation for all other competitors, especially Tesla. And it’s making the general public comfortable with what now seems will be an inevitable part of the urban landscape. With wide-scale operations in San Francisco and Phoenix (and a limited rollout in Los Angeles), Waymo has been growing quickly—even with its emphasis on scaling responsibly. It is partnering with Uber and rolled out service in Austin in March, with plans to launch in Atlanta. Waymo also unveiled its Generation 6 automated driving system, an enhanced-technology suite designed handle tougher weather conditions. In October, the Waymo One taxi fleet reached 1 million autonomous miles driven. Waymo has made real what seemed unimaginable 15 years. It’s proven that Alphabet’s moonshot strategy can work.Read more about Waymo, honored as No. 1 on Fast Company’s list of the World’s 50 Most Innovative Companies of 2025.2. BYDFor making EVs that are ultra-affordable, ultrafast, and even amphibiousAfter almost 30 years as a battery supplier to mobile phone manufacturers, BYD has found explosive growth as an EV maker, catapulting over competitors to become a global juggernaut. The Warren Buffett-backed Chinese company shifted to building cars nearly two decades ago, applying its expertise in producing lithium iron phosphate (LFP) batteries to develop reliable, sub-$35,000 EVs. But the mid-2023 launch of BYD’s most affordable model—the four-figure Seagull compact car—ignited BYD’s exponential sales run. Boasting an all-electric range up to 252 miles, the Seagull became China’s top seller in August 2024 and solidified BYD’s status as the country’s largest automaker. But BYD isn’t focused only on affordability. Shipments of its first supercar, the $238,000 Yangwang U9, began in February. Today, BYD is running neck and neck with Tesla for the top spot among global EV makers and it is the undisputed champion of the plug-in hybrid sector, with 40% of that market. Last year, BYD delivered more than 3.8 million passenger vehicles in 2024—surpassing its full-year target of 3.6 million. The year also saw the company’s rapid expansion across Asia and into Mexico, South America, Europe, and Australia. In November, BYD produced its 10 millionth battery-powered vehicle, becoming the first automaker to reach that milestone, and announced a new Blade EV battery to power its future long-range EVs. The next-generation Blade technology is expected to increase driving range as well as battery life cycle. Whether BYD brings its cars to the U.S. is a question of geopolitics, but at least one top analyst says social media has helped spread the word among Gen Z and millennial shoppers, who are open to buying Chinese vehicles. “It’s only a matter of time before BYD is selling retail passenger vehicles in the U.S. market,” says Ed Kim, chief analyst at AutoPacific. “American consumers want them, and awareness of them is strong.”Read more about BYD, honored as No. 5 on Fast Company’s list of the World’s 50 Most Innovative Companies of 2025.3. UL SolutionsFor developing cutting-edge automotive battery and energy storage testingEV batteries can catch fire or explode in the event of a collision, mechanical failure, or weather catastrophe, making battery safety crucial as more electric vehicles hit the road. Northbrook, Illinois-based safety science company UL Solutions has emerged as a key player in the space, conducting rigorous tests to determine how EV batteries handle a host of hazards, from thermal runaway to electric shock. The company launched an initial public offering in April 2024 at a roughly $7 billion valuation, and four months later, it opened a 90,000-square-foot advanced battery lab in Auburn Hills, Michigan. The company’s largest-ever laboratory investment puts performance and safety testing under one roof. The state-of-the-art lab is one of the most extensive electric and hybrid vehicle and industrial battery testing laboratories in the U.S., conducting electrical, mechanical, and environmental testing against standards and goals set by the International Electrotechnical Commission, United Nations, Society of Automotive Engineers, and others. The company grew revenue 7.2% to $2.9 billion in 2024, thanks to business from customers in more than 110 countries. It plans to construct a new Advanced Automotive and Battery Testing Center in South Korea to serve more customers across the Asia Pacific region and to add EV charger testing.4. NvidiaFor powering the autonomous vehicle revolutionNvidia dominates the market for the semiconductors that power AI platforms in automotive and a range of other industries. Its GPUs are well-suited to the demands of AI model training, making Nvidia’s technology crucial to the creation and widespread adoption of self-driving cars. Top automakers from around the world (including BYD, Mercedes-Benz, Rivian, and Volvo) utilize the latest technologies from Nvidia (Drive AGX, Drive Orin, Drive Thor) to power their autonomous driving systems, and in early January 2024, Nvidia secured its pole position in the race to build better autonomous driving systems when it announced at CES that the world’s largest car manufacturer, Toyota, would be deploying its technology to build its next-generation vehicles. All this has put Nvidia on a tear, with revenue and market cap surging. In November, Nvidia replaced Intel on the Dow Jones Industrial Average.5. Mercedes-BenzFor advancing battery chemistry and developing a recycling economyMercedes-Benz is pulling ahead in the race to build a sophisticated battery economy. In October 2024, the automaker opened a state-of-the-art battery recycling factory in Kuppenheim, Germany. The factory—Europe’s first to house an integrated mechanical-hydrometallurgical process within a single plant—makes Mercedes the first automaker to close the ponderous battery recycling loop with its own in-house facility. Mercedes says the factory’s integrated process boasts a recovery rate of more than 96%, enabling a true circular economy of battery materials from old cars. The batteries come from test vehicles and production ramp-ups, as well as from returned vehicles from Mercedes-Benz. The plant will play a significant role in the battery life cycle, from shredding of battery modules to processing active battery materials to recovering scarce raw materials such as lithium, nickel, and cobalt. The downstream hydro-metallurgical process handles the “black mass,” the active materials that make up the electrodes of the battery cells. The factory, which began production in October 2024, is expected to generate enough material to produce more than 50,000 new battery modules annually. The knowledge gleaned from the project could help scale up production volumes in the medium- to long-term. Meanwhile, the automaker continues to roll out new EVs. In April, Mercedes-Benz launched an electric version of its rough-and-tumble G-Wagen truck, showing that electrification is possible for virtually any vehicle.6. RivianFor disrupting the EV industry with ultraefficient battery packsIt’s tough to start a car company. Just ask any of the fledgling EV companies that folded last year. The road has been rocky for Rivian, but the startup EV maker proved its staying power in June with the introduction of the second-generation R1S utility vehicle and R1T pickup truck. Together, the vehicles are challenging Tesla, General Motors, and other automakers thanks to their hearty, long-range power trains that are designed, engineered, and manufactured in-house. The second-generation battery packs offer up to 420 miles of range, while a new lithium iron phosphate-based battery pack can achieve an EPA-estimated 270 miles. Despite challenging sales, supply shortages, and layoffs, the company continues to plow ahead as a leader in the battery-electric sphere. In March, Rivian introduced a new midsize platform for smaller and more affordable vehicles, and followed that with the opening of its Rivian Adventure Network of DC fast chargers to all EVs. In October, the company announced that Volkswagen will invest $5.8 billion as part of a joint venture focused on developing vehicle software. In November, Rivian secured a $6.6 billion loan from the U.S. Department of Energy to revive its plans to build an EV factory in Stanton Springs, Georgia.7. LG Vehicle SolutionFor bringing entertainment into the carLG is leading the lucrative race to bring entertainment into the car. In 2024, the South Korean juggernaut showed that it can adapt its expertise in consumer electronics for in-vehicle use, tailoring its user-friendly entertainment technology for automotive customers including Hyundai and Kia. In May, LG debuted a new infotainment platform with the launch of the Kia EV3 compact utility vehicle. The system brings LG Channels, an expansive network of entertainment, news and other content, into the car, eliminating complex app-based logins. The following month, the company rolled out its AlphaWare suite of customizable software to help automakers integrate advanced software and connectivity features across their lineups as seamlessly as possible. The comprehensive system addresses five key areas powering the vehicle, such as PlayWare for infotainment and VisionWare for safety. In November, LG presented its vision for the future of automotive interiors: a Digital Cockpit gamma featuring a 12.3-inch transparent OLED screen displaying real-time navigation, current speed, and points of interest, as well as a 14.2-inch retractable plastic OLED display embedded in the center console. A handy AI-based virtual assistant can detect driver fatigue, order a coffee from a shop nearby, and help you pay for the transaction through the screen’s built-in fingerprint-recognition sensor.8. QualcommFor creating a scalable cloud-based platform for the automotive industryQualcomm is expanding beyond mobile phones, transferring its expertise in chip technology to the automotive industry as cars become a new computing space. The system-on-chip technology that Qualcomm has honed for mobile phones is becoming crucial for the automotive industry as it evolves toward centralized computing. In October, the chipmaker announced a significant advance in automotive semiconductor technology with the launch of a scalable platform based on its fastest CPU. Qualcomm’s ultrafast Oryon CPU will power the latest version of its Snapdragon Digital Chassis, comprised of Snapdragon Cockpit Elite, which supports in-vehicle experiences like entertainment, and Snapdragon Ride Elite, which provides automated driving capabilities. The Snapdragon Digital Chassis can handle parallel AI workloads, such as processing data from multiple sensors and cameras to prevent a collision. It also allows different systems—such as infotainment and safety systems—to operate independently, which enables the car to process different types of data faster to make better-informed decisions. The cloud-connected platforms give customers like General Motors, Mercedes-Benz, Rivian, BMW, Ford, Honda, and Hyundai the flexibility to develop features such as customizable dashboards and over-the-air updates after the car has been purchased. In February, Qualcomm reported robust Q1 2025 growth, with automative bringing in $961 million, representing 61% year-over-year growth. 9. MichelinFor creating sustainable tires to support next-gen EVsTires, perhaps the last part of a car to modernize, are finally undergoing a paradigm shift. Since 1960, cars have grown larger and heavier—increasing 21% in height, 14% in width, and 3% in length—putting more pressure on the tire, the humble component that supports the entire car. Now EVs, with their heavy batteries, are increasing weight by roughly 20%, an industrywide shift that necessitates more durable and more sustainable tires to support the extra heft. “Everything on electrification is pushing the market for bigger tires,” says Bruno de Feraudy, Michelin’s senior vice president of original equipment. Michelin’s Pilot Sport EV tires have been on the market since 2021, and at the 2024 Le Mans race in June, the company demonstrated a sustainable, track-oriented tire for the all-electric Porsche Cayman GT4 ePerformance race car. The motorsports tire at Le Mans is composed of 71% sustainable renewable and recycled raw materials, while the average tire uses 200 components that are difficult to recycle. These sustainable tires make greater use of rubber, recycled carbon black, oils such as sunflower oil and bio-sourced resins, silica from rice husks, and recycled steel.10. Formula 1For pioneering the hybrid technology powering passenger carsFormula 1 has shot to the cultural forefront with the Netflix documentary Drive to Survive, now in its seventh season, but it’s also the world’s foremost test bed for the hybrid technology that trickles down into passenger cars. In June 2024, its governing body, the Fédération Internationale de l’Automobile (FIA), announced the racing series’s most ambitious plans for going carbon neutral. The regulations, which go into effect in 2026, call for each team to build a power unit that derives half its power from a V6 turbo engine and half from its battery and electric motor. FIA’s ever-changing regulations breed innovation by requiring teams to continually reengineer their cars and push technology to the limit. Each car competing in Formula 1, arguably the world’s most technically advanced sport, features thousands of sensors taking more than 1 million data points per second to optimize performance as the driver hurls the car up to 225 miles per hour. The sport has more eyes on it than ever, gaining momentum stateside with the recent addition of Grand Prix in Miami and Las Vegas.Explore the full 2025 list of Fast Company’s Most Innovative Companies, 609 organizations that are reshaping industries and culture. We’ve selected the companies making the biggest impact across 58 categories, including advertising, applied AI, biotech, retail, sustainability, and more.

You know the dream: electric vehicles that can drive straight from New York to Chicago without needing to top off the battery. Robotaxis at your beck and call. Amphibious cars. The promise of next-generation travel hasn’t fully materialized yet, but legions of companies around the world are focused on bringing the vision to life.

This year’s list of the most innovative automotive companies recognizes both the upstarts and the incumbents advancing the next era in mobility. As the industry grapples with the larger questions of how to create viable solid-state batteries or commercialize robotaxi service, the companies listed here are focused on the incremental steps toward a fully autonomous future.

The result is EV technology that makes the erstwhile novelty car more powerful, more affordable, and more ubiquitous. China’s largest car company, BYD, became the world’s second-biggest EV maker in 2024 due to the rollout of its ultra-affordable models such as the $11,000 Seagull as it grows its global footprint.

Meanwhile, Southern California-based startup Rivian is disrupting the domestic EV industry with ultraefficient battery packs that can carry its pickup trucks and SUVs more than 400 miles on a full charge.

Some companies, like Northbrook, Illinois-based UL Solutions, are focused on making batteries safer and more reliable, while others focus on what to do with the batteries once they reach the end of their life cycle. Mercedes-Benz, which returns to the list for the second consecutive year, became the first car manufacturer to close the loop with an in-house battery recycling plant in Kuppenheim, Germany.

Of course, digital and connected features are becoming crucial to the user experience, and Nvidia, Qualcomm, and LG Electronics are racing to develop the computing power for faster processing and seamless service.

But for now, keep your eyes peeled on the road for Waymo, which tops our list this year, as it rolls out commercial robotaxi service around the U.S. and possibly in a city near you.

1. Waymo

For making robotaxis part of the streetscape

After 15 years, the original Google moonshot looks like it’s finally starting to reach escape velocity. Launched in 2009 as Google’s self-driving car unit, Waymo had its share of false starts before it began offering a limited version of its driverless ride-sharing service to customers in Phoenix in 2020. But in recent months, Waymo has emerged as the company ushering robotaxis out of the sci-fi realm and into reality. It’s paving the way for autonomous vehicles in five major U.S. cities, setting the bar for safety, transparency, and regulation for all other competitors, especially Tesla. And it’s making the general public comfortable with what now seems will be an inevitable part of the urban landscape. With wide-scale operations in San Francisco and Phoenix (and a limited rollout in Los Angeles), Waymo has been growing quickly—even with its emphasis on scaling responsibly. It is partnering with Uber and rolled out service in Austin in March, with plans to launch in Atlanta. Waymo also unveiled its Generation 6 automated driving system, an enhanced-technology suite designed handle tougher weather conditions. In October, the Waymo One taxi fleet reached 1 million autonomous miles driven. Waymo has made real what seemed unimaginable 15 years. It’s proven that Alphabet’s moonshot strategy can work.

Read more about Waymo, honored as No. 1 on Fast Company’s list of the World’s 50 Most Innovative Companies of 2025.

2. BYD

For making EVs that are ultra-affordable, ultrafast, and even amphibious

After almost 30 years as a battery supplier to mobile phone manufacturers, BYD has found explosive growth as an EV maker, catapulting over competitors to become a global juggernaut. The Warren Buffett-backed Chinese company shifted to building cars nearly two decades ago, applying its expertise in producing lithium iron phosphate (LFP) batteries to develop reliable, sub-$35,000 EVs. But the mid-2023 launch of BYD’s most affordable model—the four-figure Seagull compact car—ignited BYD’s exponential sales run. Boasting an all-electric range up to 252 miles, the Seagull became China’s top seller in August 2024 and solidified BYD’s status as the country’s largest automaker.

But BYD isn’t focused only on affordability. Shipments of its first supercar, the $238,000 Yangwang U9, began in February. Today, BYD is running neck and neck with Tesla for the top spot among global EV makers and it is the undisputed champion of the plug-in hybrid sector, with 40% of that market. Last year, BYD delivered more than 3.8 million passenger vehicles in 2024—surpassing its full-year target of 3.6 million. The year also saw the company’s rapid expansion across Asia and into Mexico, South America, Europe, and Australia. In November, BYD produced its 10 millionth battery-powered vehicle, becoming the first automaker to reach that milestone, and announced a new Blade EV battery to power its future long-range EVs. The next-generation Blade technology is expected to increase driving range as well as battery life cycle.

Whether BYD brings its cars to the U.S. is a question of geopolitics, but at least one top analyst says social media has helped spread the word among Gen Z and millennial shoppers, who are open to buying Chinese vehicles. “It’s only a matter of time before BYD is selling retail passenger vehicles in the U.S. market,” says Ed Kim, chief analyst at AutoPacific. “American consumers want them, and awareness of them is strong.”

Read more about BYD, honored as No. 5 on Fast Company’s list of the World’s 50 Most Innovative Companies of 2025.

3. UL Solutions

For developing cutting-edge automotive battery and energy storage testing

EV batteries can catch fire or explode in the event of a collision, mechanical failure, or weather catastrophe, making battery safety crucial as more electric vehicles hit the road.

Northbrook, Illinois-based safety science company UL Solutions has emerged as a key player in the space, conducting rigorous tests to determine how EV batteries handle a host of hazards, from thermal runaway to electric shock. The company launched an initial public offering in April 2024 at a roughly $7 billion valuation, and four months later, it opened a 90,000-square-foot advanced battery lab in Auburn Hills, Michigan. The company’s largest-ever laboratory investment puts performance and safety testing under one roof. The state-of-the-art lab is one of the most extensive electric and hybrid vehicle and industrial battery testing laboratories in the U.S., conducting electrical, mechanical, and environmental testing against standards and goals set by the International Electrotechnical Commission, United Nations, Society of Automotive Engineers, and others. The company grew revenue 7.2% to $2.9 billion in 2024, thanks to business from customers in more than 110 countries. It plans to construct a new Advanced Automotive and Battery Testing Center in South Korea to serve more customers across the Asia Pacific region and to add EV charger testing.

4. Nvidia

For powering the autonomous vehicle revolution

Nvidia dominates the market for the semiconductors that power AI platforms in automotive and a range of other industries. Its GPUs are well-suited to the demands of AI model training, making Nvidia’s technology crucial to the creation and widespread adoption of self-driving cars. Top automakers from around the world (including BYD, Mercedes-Benz, Rivian, and Volvo) utilize the latest technologies from Nvidia (Drive AGX, Drive Orin, Drive Thor) to power their autonomous driving systems, and in early January 2024, Nvidia secured its pole position in the race to build better autonomous driving systems when it announced at CES that the world’s largest car manufacturer, Toyota, would be deploying its technology to build its next-generation vehicles. All this has put Nvidia on a tear, with revenue and market cap surging. In November, Nvidia replaced Intel on the Dow Jones Industrial Average.

5. Mercedes-Benz

For advancing battery chemistry and developing a recycling economy

Mercedes-Benz is pulling ahead in the race to build a sophisticated battery economy. In October 2024, the automaker opened a state-of-the-art battery recycling factory in Kuppenheim, Germany. The factory—Europe’s first to house an integrated mechanical-hydrometallurgical process within a single plant—makes Mercedes the first automaker to close the ponderous battery recycling loop with its own in-house facility. Mercedes says the factory’s integrated process boasts a recovery rate of more than 96%, enabling a true circular economy of battery materials from old cars. The batteries come from test vehicles and production ramp-ups, as well as from returned vehicles from Mercedes-Benz. The plant will play a significant role in the battery life cycle, from shredding of battery modules to processing active battery materials to recovering scarce raw materials such as lithium, nickel, and cobalt. The downstream hydro-metallurgical process handles the “black mass,” the active materials that make up the electrodes of the battery cells. The factory, which began production in October 2024, is expected to generate enough material to produce more than 50,000 new battery modules annually. The knowledge gleaned from the project could help scale up production volumes in the medium- to long-term. Meanwhile, the automaker continues to roll out new EVs. In April, Mercedes-Benz launched an electric version of its rough-and-tumble G-Wagen truck, showing that electrification is possible for virtually any vehicle.

6. Rivian

For disrupting the EV industry with ultraefficient battery packs

It’s tough to start a car company. Just ask any of the fledgling EV companies that folded last year. The road has been rocky for Rivian, but the startup EV maker proved its staying power in June with the introduction of the second-generation R1S utility vehicle and R1T pickup truck. Together, the vehicles are challenging Tesla, General Motors, and other automakers thanks to their hearty, long-range power trains that are designed, engineered, and manufactured in-house. The second-generation battery packs offer up to 420 miles of range, while a new lithium iron phosphate-based battery pack can achieve an EPA-estimated 270 miles. Despite challenging sales, supply shortages, and layoffs, the company continues to plow ahead as a leader in the battery-electric sphere. In March, Rivian introduced a new midsize platform for smaller and more affordable vehicles, and followed that with the opening of its Rivian Adventure Network of DC fast chargers to all EVs. In October, the company announced that Volkswagen will invest $5.8 billion as part of a joint venture focused on developing vehicle software. In November, Rivian secured a $6.6 billion loan from the U.S. Department of Energy to revive its plans to build an EV factory in Stanton Springs, Georgia.

7. LG Vehicle Solution

For bringing entertainment into the car

LG is leading the lucrative race to bring entertainment into the car. In 2024, the South Korean juggernaut showed that it can adapt its expertise in consumer electronics for in-vehicle use, tailoring its user-friendly entertainment technology for automotive customers including Hyundai and Kia. In May, LG debuted a new infotainment platform with the launch of the Kia EV3 compact utility vehicle. The system brings LG Channels, an expansive network of entertainment, news and other content, into the car, eliminating complex app-based logins.

The following month, the company rolled out its AlphaWare suite of customizable software to help automakers integrate advanced software and connectivity features across their lineups as seamlessly as possible. The comprehensive system addresses five key areas powering the vehicle, such as PlayWare for infotainment and VisionWare for safety.

In November, LG presented its vision for the future of automotive interiors: a Digital Cockpit gamma featuring a 12.3-inch transparent OLED screen displaying real-time navigation, current speed, and points of interest, as well as a 14.2-inch retractable plastic OLED display embedded in the center console. A handy AI-based virtual assistant can detect driver fatigue, order a coffee from a shop nearby, and help you pay for the transaction through the screen’s built-in fingerprint-recognition sensor.

8. Qualcomm

For creating a scalable cloud-based platform for the automotive industry

Qualcomm is expanding beyond mobile phones, transferring its expertise in chip technology to the automotive industry as cars become a new computing space. The system-on-chip technology that Qualcomm has honed for mobile phones is becoming crucial for the automotive industry as it evolves toward centralized computing.

In October, the chipmaker announced a significant advance in automotive semiconductor technology with the launch of a scalable platform based on its fastest CPU. Qualcomm’s ultrafast Oryon CPU will power the latest version of its Snapdragon Digital Chassis, comprised of Snapdragon Cockpit Elite, which supports in-vehicle experiences like entertainment, and Snapdragon Ride Elite, which provides automated driving capabilities. The Snapdragon Digital Chassis can handle parallel AI workloads, such as processing data from multiple sensors and cameras to prevent a collision. It also allows different systems—such as infotainment and safety systems—to operate independently, which enables the car to process different types of data faster to make better-informed decisions. The cloud-connected platforms give customers like General Motors, Mercedes-Benz, Rivian, BMW, Ford, Honda, and Hyundai the flexibility to develop features such as customizable dashboards and over-the-air updates after the car has been purchased. In February, Qualcomm reported robust Q1 2025 growth, with automative bringing in $961 million, representing 61% year-over-year growth.

9. Michelin

For creating sustainable tires to support next-gen EVs

Tires, perhaps the last part of a car to modernize, are finally undergoing a paradigm shift. Since 1960, cars have grown larger and heavier—increasing 21% in height, 14% in width, and 3% in length—putting more pressure on the tire, the humble component that supports the entire car. Now EVs, with their heavy batteries, are increasing weight by roughly 20%, an industrywide shift that necessitates more durable and more sustainable tires to support the extra heft.

“Everything on electrification is pushing the market for bigger tires,” says Bruno de Feraudy, Michelin’s senior vice president of original equipment. Michelin’s Pilot Sport EV tires have been on the market since 2021, and at the 2024 Le Mans race in June, the company demonstrated a sustainable, track-oriented tire for the all-electric Porsche Cayman GT4 ePerformance race car. The motorsports tire at Le Mans is composed of 71% sustainable renewable and recycled raw materials, while the average tire uses 200 components that are difficult to recycle. These sustainable tires make greater use of rubber, recycled carbon black, oils such as sunflower oil and bio-sourced resins, silica from rice husks, and recycled steel.

10. Formula 1

For pioneering the hybrid technology powering passenger cars

Formula 1 has shot to the cultural forefront with the Netflix documentary Drive to Survive, now in its seventh season, but it’s also the world’s foremost test bed for the hybrid technology that trickles down into passenger cars. In June 2024, its governing body, the Fédération Internationale de l’Automobile (FIA), announced the racing series’s most ambitious plans for going carbon neutral. The regulations, which go into effect in 2026, call for each team to build a power unit that derives half its power from a V6 turbo engine and half from its battery and electric motor.

FIA’s ever-changing regulations breed innovation by requiring teams to continually reengineer their cars and push technology to the limit. Each car competing in Formula 1, arguably the world’s most technically advanced sport, features thousands of sensors taking more than 1 million data points per second to optimize performance as the driver hurls the car up to 225 miles per hour. The sport has more eyes on it than ever, gaining momentum stateside with the recent addition of Grand Prix in Miami and Las Vegas.

Explore the full 2025 list of Fast Company’s Most Innovative Companies, 609 organizations that are reshaping industries and culture. We’ve selected the companies making the biggest impact across 58 categories, including advertisingapplied AIbiotechretailsustainability, and more.

Read the full story here.
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A proposed bill could reignite the long-running battle over new Oregon-Washington highway bypass

Environmentalists have vehemently fought similar proposals in the past.

Two lawmakers have revived an old proposal to potentially construct a highway bypass between Oregon and Washington as an alternative to Interstate 5, which they say would ease congestion in the Portland area.It’s an ambitious and controversial idea. The bill, introduced Thursday in the Oregon Senate, would require the state to study the effects of extending Oregon 127, which runs west of Portland, north across the Columbia River and connecting it to I-5 in Washington.The one-page bill is light on details and does not state where a potential highway extension would cross the Columbia River or where it would connect with I-5. Regardless, any proposed bypass would almost certainly cut through farmland or environmentally protected areas. For years, some state and local officials have unsuccessfully pitched similar highway extension projects in Washington County. Proponents say it would ease congestion for truckers and commuters who have to sit in daily traffic on I-5 or U.S. 26 in Portland, while also meeting the needs of a growing population.“Big transportation projects take forever, and I’d prefer that we get in front of the need rather than try to play catch up 30 years from now,” said Sen. Bruce Starr, a Republican from Dundee. Starr and Republican Sen. Suzanne Weber of Tillamook, both members of the legislative transportation committee, are the bill’s only sponsors.Environmentalists would likely oppose any highway extension project that arises from the study. They have vehemently fought similar proposals in the past, typically arguing that extending highways through farmland defies Oregon’s strict land use laws. They have argued that cities should instead invest in other environmentally-friendly solutions to reduce congestion.Any proposed extension of Oregon 127 would likely cut through areas protected by Oregon’s land use laws. The highway currently ends at U.S. 30 just south of Sauvie Island, much of which is zoned exclusively for farm use.“1000 Friends of Oregon opposes efforts to pave over our state’s precious farmlands or other natural resources without good reason,” Krystal Eldridge, spokesperson for the environmental nonprofit, said in an email. The farmland on Sauvie Island, she said, is “home to some of our region’s best soils, which are irreplaceable and essential to safeguard for the long-term benefit of our communities.”Starr said he would expect environmentalist opposition and described this bill as a “conversation-starter.” He reiterated that although the study would have to be completed by next September if the bill passes, any potential highway extension or bridge construction would require a public engagement process and would likely take years to get underway.“(Environmentalists) don’t understand that you got to move people and freight, and congestion only creates more pollution,” Starr said. “At the end of the day, you got to have level-headed folks that recognize what’s important as to making an economy work.”Oregon truckers and business groups who have typically supported highway extensions would likely throw their political weight behind any proposal designed to ease congestion.The likely battle between environmentalists and business groups over such a project reflects the delicate position that Oregon lawmakers find themselves in regarding transportation funding and policy. Lawmakers are currently crafting the state’s first major transportation package in eight years, which will require balancing the desires of cities, environmentalists, truckers and other interested groups.Cassie Wilson, transportation policy manager for 1000 Friends of Oregon, said she hopes lawmakers will continue to invest in public transit and safety improvements “over costly new projects the public has not asked for.”It’s unclear if the bill will move forward this session, which must end by late June. Rep. Susan McLain, a Democrat from Forest Grove and co-chair of the transportation committee, did not say whether she would support such a proposal. “Timing is everything,” she said in a text.— Carlos Fuentes covers state politics and government. Reach him at 503-221-5386 or cfuentes@oregonian.com.Our journalism needs your support. Subscribe today to OregonLive.com/subscribe.Latest local politics stories

Palisades and Eaton firefighters had elevated blood levels of mercury and lead, according to an early study

Early findings from an ongoing study report that a group of 20 firefighters tested after the Palisades and Eaton fires had higher-than-expected levels of mercury and lead in their blood.

The immediate risks faced by the firefighters who were on the front lines battling the Palisades and Eaton fires that tore through Los Angeles County may have abated, but long-term health concerns remain. A team of researchers tested the blood of a group of 20 firefighters who were called to duty when the wildfires hit Los Angeles County communities, and found that they had levels of lead and mercury in their blood that was significantly higher than what health experts consider to be safe — and also higher than firefighters exposed to a forest fire.The results are part of the longer-term LA Fire Health Study, which is investigating the health impacts of the January fires on those exposed to the toxins it released into the the environment. The team includes researchers from the Harvard T.H. Chan School of Public Health, the UCLA Fielding School of Public Health, UC Davis, the University of Texas at Austin, and the USC Keck School of Medicine.“What you need to worry about is some of these metals that, when they get burned, they get up in the air,” said Dr. Kari Nadeau, chair of the Department of Environmental Health at Harvard T.H. Chan School of Public Health and one of the researchers working on the project. “They can get into your lungs, and they can get into your skin, and they get can absorbed and get into your blood.”The group of 20 firefighters — who had come from Northern California to assist in the efforts — were tested just days after the fires were contained. They had toiled for long hours as the two fires razed entire communities, burning homes, cars, businesses, and a still unknown list of chemicals and metals. Combined, the fires killed 29 people and destroyed more than 16,000 structures. On average, said Nadeau, the firefighters had lead and mercury levels three and five times higher, respectively, than a control group of firefighters who fought a forest fire alone. According to the California Department of Public Health, the average blood lead level for adults in the United States is less than 1 microgram per deciliter.Researchers are still looking to expand the number of firefighters in the study, as well as the range of toxins they may have been exposed to. Nevertheless, even these limited and preliminary findings bolster a growing worry among firefighters that the L.A. fires may have exposed them to metals and chemicals with long-term health effects. “The results are pretty alarming,” said Dave Gillotte, a captain with the Los Angeles County Fire Department and president of the Los Angeles County Firefighters Local 1014. “We don’t just fear, but we’re quite confident that we’re going to see health impacts with our firefighters who fought these fires on the front lines.” Firefighters regularly risk exposure to chemicals and metals — including lead and mercury — when responding to house and commercial fires in an urban setting, Gillotte said. But response to a single house fire, for example, would likely last a few hours, not the days on end of the Palisades and Eaton fires. Firefighters also typically face prolonged exposure to the particulate matter in smoke when fighting wildfires in rural areas — but not the chemicals of an urban setting. The Eaton and Palisades fires presented a combined risk: a wildfire-like blaze with firefighters on the ground for extended periods in an urban setting, with electric vehicles, batteries, chemicals and metals burning in high heat, mixing and spreading with the same wind that was spreading the flames. “It was a more intense exposure as a result of the wind driving those toxins, even with our protective gear,” Gillotte said. According to Gillotte, these types of urban wildfires could cause long-term health impacts for first responders similar to those from events like the destruction of the World Trade Center on Sept. 11, 2001. Already, officials from the Sacramento Metropolitan Fire District, the Sacramento Fire Department, and Los Angeles County have begun to test their firefighters for metal and chemical exposure, Gillotte said. Meanwhile, as part of a separate study, Los Angeles city fire officials have also been looking at the health effects on its firefighters. “We are very concerned and worried,” said Los Angeles Fire Department Capt. Kevin Frank. The LAFD has so far taken blood and urine samples of about 350 of its firefighters, as part of an ongoing nationwide study, funded by the Federal Emergency Management Agency, to look at firefighters’ biomarkers and exposure to cancer-causing substances. That study — which is different than the LA Fire Health Study and the one mentioned by Gillotte — includes more than 7,000 firefighters from across the country.After the fires, Frank said, several firefighters who reported to Altadena and Pacific Palisades reported health issues, such as trouble breathing. Nadeau, who is working on the LA Fire Health Study, but not the FEMA-funded national study, noted that exposure to heavy metals can contribute to worse long-term health outcomes. Firefighters already face higher levels of some illnesses, such as autoimmune diseases, asthma and some cancers, she said. Fire officials said the life expectancy of a firefighter is about 10 years lower than that of the average person. The LA Fire Health study is still in its early stages. Nadeau says she and her colleagues plan to look for evidence of exposure to other heavy metals in addition to mercury and lead. “We’re going to be studying toxins that haven’t been studied” in firefighters before, she said. Typically, the results of studies like these are not made public until they have been peer-reviewed and published by a scientific journal. Nadeau said the consortium decided to share some of the preliminary data early, hoping to help residents, civic leaders and first responders understand the impacts of the fires. “You really want to know: ‘What’s in the air, what’s in the water, what’s in the ash that blew into my kitchen cabinet? Do I let my dog outside?’” she said. “All these questions were coming up and we thought, ‘We really need to serve the community.’” Indeed, while the initial findings will be focused on firefighters’ exposure, the team is also looking into residents’ exposure to heavy metals and chemicals.Nadeau is also looking ahead: The information, she says, could help fire officials as they face the possibility of another similar fire by helping them better understand the source of the chemicals, how safety equipment was used during the fires, and the efficacy of that gear.“I’d like to say this is the last of its kind, but we know it won’t be,” she said. “It’s not a matter of if, but a matter of when people undergo a fire like that again in L.A.”

US wine sellers and bars nervously wait for tariff decision: ‘It’s a sad situation’

Many winemakers halt shipments on chance White House makes good on threat of 200% markup on European goodsAs the threat of exorbitant US tariffs on European alcohol imports looms, a warehouse in the French port city of Le Havre awaits a delivery of more than 1,000 cases of wine from a dozen boutique wineries across the country.Under normal circumstances, Randall Bush, the founder of Loci Wine in Chicago, would have already arranged with his European partners to gather these wines in Le Havre, the last stop before they are loaded into containers and shipped across the Atlantic. But these wines won’t be arriving stateside anytime soon. Continue reading...

As the threat of exorbitant US tariffs on European alcohol imports looms, a warehouse in the French port city of Le Havre awaits a delivery of more than 1,000 cases of wine from a dozen boutique wineries across the country.Under normal circumstances, Randall Bush, the founder of Loci Wine in Chicago, would have already arranged with his European partners to gather these wines in Le Havre, the last stop before they are loaded into containers and shipped across the Atlantic. But these wines won’t be arriving stateside anytime soon.After the Trump administration threatened on 13 March to impose 200% tariffs on alcoholic products from Europe, many US importers like Bush have halted all outgoing shipments from Europe.The 1,100 cases of his wine, from family-owned producers in his company’s modest European portfolio, have already been paid for. But due to the tariff threat, they will remain stranded at their respective domaines at least until 2 April when the Trump administration is expected to reveal a “reciprocal tariff number” for each of its global trading partners.The newfound uncertainty around tariffs has many restaurant owners, beverage directors, liquor distributors and wine importers on edge in recent weeks. The only certainty among the trade professionals interviewed is that a 200% tariff would be catastrophic for the wine and spirits industry globally. And while most believe the actual number will end up much lower, everyone agrees that even modest tariffs would send shock waves throughout the entire food and beverage ecosystem, weakening distribution channels and further driving up already astronomical prices.“What scares me is how these hypothetical tariffs would affect [the many] European-themed restaurants like French bistros, Italian trattorias and German beer halls,” said Richard Hanauer, wine director and partner with Lettuce Entertain You. The Chicago-based group owns, manages and licenses more than 130 restaurants and 60 brands in a dozen different states and Washington DC. Hanauer predicts that concept-driven eateries that rely on European products would have to source wine and spirits from other regions because “the consumer is not going to accept the markup”.Even though Trump has been known to walk back dubious claims about tariffs before, the wine and spirits industry is taking this recent threat very seriously. Most American importers, such as Loci’s Bush, are adhering to the US Wine Trade Alliance’s (USWTA) guidance issued in mid-March warning its members to cease wine shipments from Europe. Without guarantees that any potential tariffs would come with a notice period or exemptions for wines shipped prior to their announcement, the organization had no choice but to advise its constituents to halt all EU wine shipments.“Once the wine is on the water, we have no power,” said Bush. “We’re billed by our shippers as soon as the wine arrives.”Tariffs are import taxes incurred by the importer and paid as a percentage of the value of the freight at the point of entry upon delivery. Since shipments from Europe can often take up to six to eight weeks to arrive, firms like Loci face the predicament of not knowing how much they will owe to take delivery of their products when they reach US ports.“We’ve had many US importers tell us that even a 50% unplanned tariff could bankrupt their businesses, so we felt we had no choice,” said Benjamin Aneff, president of the USWTA, of the organization’s injunction. “It’s a sad situation. These are mostly small, family-owned businesses.”Europe’s wineries can also ill afford to be dragged into a trade war with the United States. According to the International Trade Center, the US comprises almost 20% of the EU’s total wine exports, accounting for a total of $14.1bn (€13.1bn) of exported beverage, spirit and vinegar products from the EU in 2024.Many independent importers still recall Trump levying $7.5bn of tariffs on exports from the EU during his first presidency, which included 25% duties on Scotch whiskey, Italian cheeses, certain French wines and other goods. These retaliatory measures, which took effect in October 2019, resulted from a years-long trade dispute between the US and the EU over airline subsidies.“We were hit with duties in late 2019. But we negotiated with a lot of our suppliers, so we were able to stave off any significant price increases,” said André Tamers, the founder of De Maison Selections, a fine-wine importer with a large portfolio of French and Spanish wines and spirits. But because the Covid-19 pandemic hit shortly thereafter, Tamers admitted, it was difficult to gauge the impact of the first round of Trump tariffs. The Biden administration eventually rescinded the measures in June 2021.To pre-empt any potentially disastrous news on the tariff front, many restaurants and bars are ramping up inventory purchases to the extent that their budgets allow. “We made some large commitments for rosé season,” said Grant Reynolds, co-founder of Parcelle, which has an online wine shop as well as two bars and a bricks-and-mortar retail outlet in Manhattan. “To whatever we can reasonably afford, we’ve decided to secure those commitments sooner than later so that we can better weather the storm.”The same is true for many cocktail-focused bars around the country, which are looking to shore up supplies of popular spirits that could end up a victim of tariffs, including allocated scotches and rare cognacs.skip past newsletter promotionSign up to This Week in TrumplandA deep dive into the policies, controversies and oddities surrounding the Trump administrationPrivacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply.after newsletter promotion“If it becomes very apparent that these tariffs are going to go live, we could be looking at dropping close to $100,000 on inventory just to insulate ourselves because it will save us so much money over the next six months,” said Deke Dunne, beverage director of Washington DC’s award-winning cocktail bar Allegory. “It will have to be a game-time decision, though, because the last thing I want to do is to buy up a lot of inventory I don’t need.” Hanauer said that he’s seen some vendors offering wine buyers heavy discounts and incentives to stockpile cases of European products to prepare for the possibility of onerous tariffs.One bar owner feeling a little less panic compared with his industry counterparts is Fred Beebe, co-owner of Post Haste, a sustainability-minded cocktail bar in Philadelphia. Since it opened in 2023, Post Haste eschews imported spirits of any kind; the bar is stocked exclusively with US products from east of the Mississippi River. “We always thought it would be advantageous to have our producers close to us for environmental reasons and to support the local economy,” said Beebe, “but we didn’t necessarily think that it would also benefit from fluctuations in distribution or global economic policy.”Instead of serving popular European liquor brands such as Grey Goose vodka or Hendrick’s gin, the bar highlights local craft distillers such as Maggie’s Farm in Pittsburgh, which produces a domestic rum made from Louisiana sugar cane. After the recent tariff threats, Beebe says, the decision to rely on local products has turned out to be fortuitous. “I feel really bad for anyone who is running an agave-based program, a tequila or mezcal bar,” said Beebe. “They must be worried constantly about whether the price of all of their products are going to go up by 25% to 50%.”On the importing side, there is agreement that this is an inopportune moment for the wine industry to face new headwinds. Wine consumption has steadily declined in the United States in recent years as gen Z and millennial consumers are turning to cannabis, hard seltzers and spirits such as tequila, or simply embracing sobriety in greater numbers.“Unfortunately, the reality is that wine consumption was already down before this compared to what it was five years ago,” said Reynolds. “This obviously doesn’t help that. So, with more tariffs, you would start to see a greater shift of behaviors away from drinking wine.”But despite slumping sales and the impending tariff threats, niche importers like Tamers say they have little choice but to stay the course. “You leave yourself vulnerable, but if you don’t buy wine, then you don’t have any wine to sell. So, it’s a double-edged sword,” he said. “Our customers are still asking for these products, so there’s not much else we can do.”Aneff hopes that commonsense negotiations will lead to both parties divorcing alcohol tariffs from other trade disputes over aluminum, steel and digital services.“I do have some hope for a potential sectoral agreement on wine, and perhaps spirits, which would benefit domestic producers and huge numbers of small businesses on both sides of the Atlantic,” he said. “I can’t think of anything that would bring more joy to people’s glasses than ensuring free trade on wine.”

Smart ways to legally lower your 2025 tax bill

Learn five effective ways to legally reduce your 2025 tax contribution, including Tax-Free Savings Accounts... The post Smart ways to legally lower your 2025 tax bill appeared first on SA People.

With tax season approaching in mid-July, now is the time to start planning how to minimize your 2025 tax contribution. While South Africa is facing a proposed VAT increase of 1% over two years, there are still legal strategies to safeguard your income. Here are five key ways to maximize deductions and reduce your tax burden. 1. Maximise your Tax-Free Savings Account (TFSA) Investing in a TFSA is one of the simplest ways to grow your wealth without worrying about taxation. Earnings from these accounts—whether from unit trusts, fixed deposits, or bonds—are entirely tax-free, provided you stay within the limits: R36,000 per tax year R500,000 lifetime limit 2. Contribute to a Retirement Annuity (RA) Retirement annuities not only secure your future but also offer significant tax deductions. Contributions to pension, provident, and RA funds are tax-deductible up to 27.5% of your taxable income (capped at R350,000 annually). If you have additional cash on hand, topping up your RA can lower your taxable income while building long-term savings. 3. Support a Public Benefit Organisation (PBO) Donations to registered non-profits or Public Benefit Organisations (PBOs) can earn you a tax break. SARS allows deductions of up to 10% of your taxable income for contributions to approved charities, covering areas like education, healthcare, and environmental conservation. 4. Track your business travel If you receive a travel allowance, keeping detailed records can significantly reduce your taxable income. SARS allows 80% of this allowance to be tax-free, provided you maintain an accurate travel logbook. 5. Join a medical aid scheme Enrolling in a medical aid plan provides monthly tax credits, reducing your overall tax bill. This applies to the main member and extends to dependents, offering a financial advantage for families. By taking advantage of these legal tax-saving strategies, you can optimize your finances and reduce your 2025 tax contribution while staying fully compliant with SARS regulations. The post Smart ways to legally lower your 2025 tax bill appeared first on SA People.

The Disaster After the Disaster: Many Contaminants May Be Overlooked in the Wake of the L.A. Fires 

Why one Santa Monica resident has spent $8,000 testing for toxins on local beaches. The post The Disaster After the Disaster: Many Contaminants May Be Overlooked in the Wake of the L.A. Fires  appeared first on .

Since fires erupted across Los Angeles County in January, Ashley Oelsen has spent several hours each day collecting ash and soot from the beach outside of her Santa Monica apartment. Oelsen, a conservation biologist who sits on Santa Monica’s Commission on Sustainability, Environmental Justice and the Environment, worries about the dark-colored, pungent piles of burned debris that continue to mix with the sand, plant life and ocean water.  “I’m concerned about the way it will affect us long term,” she said. “It’s endless amounts of worry about the impact of the contaminants.”  Oelsen said she has spent about $8,000 of her own money shipping her beach samples to laboratories to test for toxic materials.   More than 16,200 structures burned in the Palisades and Eaton wildfires, raising concerns about toxic ash. Many of the incinerated homes and businesses contained various heavy metals, such as copper, lead, zinc and aluminum. Some older homes were constructed with asbestos or lead paint. Newer devices like electric cars or solar panels held lithium batteries. Exposure to these materials presents such significant health risks as cardiovascular disease and reduced lung function.  Researchers at the University of California, Santa Barbara, found that wildfire ash can fertilize algae, which can lead to a depletion of oxygen in the water. This kills the algae, as well as fish — and species that rely on both for sustenance.  Craig Nelson, oceanography professor at the University of Hawaii at Mānoa, heard similar concerns from residents following the Lahaina wildfires in August of 2023.   “Our main concern was things coming from melted plastic, things coming from burned wood and burned structural material that made [their] way into the water,” he said. “We didn’t find anything. We’re pleased but not terribly surprised.” Nelson said not much is known about pyrogenic material — the substances generated during a fire.  “What we know is that when you heat up any molecule, it often changes,” he said. “When you’re measuring them, you have to know exactly what it looks like. There’s thousands of compounds that you could be looking for, some of which fall into classes that we know about and some we just don’t know. Pyrogenic materials are not high on the list of things that are regulated or studied.” *     *     * This week, the Trump administration announced plans to eliminate the scientific research arm of the Environmental Protection Agency. Under the proposal, as many as 1,155 chemists, biologists, toxicologists and other scientists, responsible for the independent research that undergirds virtually all of that agency’s environmental policies, would be fired, making future guidance on pyrogenic materials unlikely.  Nelson said that his team collected and submitted a dozen fish for analysis at the National Oceanic and Atmospheric Administration, but following recent cuts to the agency’s workforce and facility closures, he is doubtful they will get their data back — let alone analyzed.    The Los Angeles County Department of Public Health recently issued an advisory for local beaches in the wake of the fires that suggests visitors can “recreate on the sand,” but should stay out of the water and avoid debris along an eight-mile stretch of shoreline from Santa Monica State Beach to Las Flores State Beach.  On March 12, Los Angeles County Public Works released findings from beach sediment tests, which found the samples did not contain any substances that would be classified as hazardous waste. One sample from both the Santa Monica Channel and Topanga Creek outlet was taken in early February. The sediment was tested for materials like asbestos, heavy metals, dioxins, pesticides and petroleum hydrocarbons. The county reported that minor traces of these were detected that did not exceed safety thresholds.  These thresholds themselves are changed frequently. In 2024, the Biden-Harris administration lowered the threshold for the level of lead in dust that EPA considers hazardous. However, there is no safe level for lead exposure. Jane Williams, the executive director of California Communities Against Toxics, shares Oelsen’s alarm over potential contaminants that may be overlooked.  “My biggest concerns [about] the exposures that are occurring is that we are in the process of repeating the post-9/11 exposure pattern,” she said. “We started seeing health issues in cleanup workers within a year of the 9/11 cleanup, and within a few years those workers started to die.”  Since the attacks at the World Trade Center on September 11, 2001, nearly 17,000 first responders and others who were in the area have been diagnosed with cancer. More than  6,000 deaths have been attributed to 9/11 illnesses. Williams fears similar phenomena in the wake of the Los Angeles fires.  “What’s happening is what I call the disaster after the disaster,” she said. Ashley Oelsen is awaiting the results of her tests, but wants people to lean on the side of caution. “We don’t know the long-term effects,” she said. “We don’t have the data. We don’t have the information.”  Copyright 2025 Capital & Main

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