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Driving a (low-speed) Chinese EV

Deals of the week

Temperature check

EV road trip: Are we there yet? Nope

Revolutions are nothing without aesthetics — especially in cars: the 1987 Jeep Wrangler, the 1998 Cadillac Escalade, the 2012 Tesla Model S.  

Why it matters: A once-retired Manhattanite contends his low-cost, low-speed, made-in-China EV will remake neighborhood driving. 

The big picture: The Wink Mark3 is a four-seat, five-door bubble. It tops out at 25 mph, putting it in the same category as street-legal golf carts.

Yes, but: It's designed for conventional driving with a touchscreen, backup camera, climate-control, fold-down rear seats, and whatever else you'd expect in a normal car. That's far beyond what regulators require in a low-speed vehicle.

Between the lines: It may not be as fun as an open-air cart, but it's not supposed to be. 

"This is not a toy. This is an everyday usable vehicle," CEO Mark Dweck tells Axios Pro.

🏦 Scoop: Geothermal power developer XGS Energy has hired Morgan Stanley to evaluate going public. Go deeper

💰 Geothermal developer Quaise Energy expects to expand the $134 million Series B it closed this week, deciding between a strategic or financial investor. Go deeper

🧈 Exclusive: Swedish specialty plant-based oil-and-fats maker AAK is collaborating with and investing in U.S. startup Savor. Go deeper

💵 Exclusive: Assent, a sponsor-backed supply chain sustainability management firm, acquired German auto compliance tech provider iPoint. Go deeper

🌋 Exclusive: Hephae Energy Technology, a high-temperature geothermal drilling startup, closed a $17.8 million Series A. Go deeper

🔋 Scoop: Grid storage startup Peak Energy is raising an $80 million Series B at a $475 million pre-money valuation, according to two sources. Go deeper

⚛️ Nuclear fuel maker Standard Nuclear disclosed it aims to raise $355.9 million in its planned IPO, at the midpoint. Go deeper

💰 German fusion energy developer Proxima Fusion raised €411 million at a €2.4 billion valuation. Go deeper

🤖 Brookfield-backed data center developer Csquare launched an IPO roadshow, revealing plans to raise up to $1.35 billion. Go deeper

🇺🇸 ICYMI: Behind the scenes of Trump's advanced reactor race. Go deeper

1 big thing: Driving a (low-speed) Chinese EV

White compact Wink Motors Mark3 four-door hatchback, parked on a residential street under green trees on a sunny day; power lines overhead and a house with windows in the background.

The Wink Motors Mark3, named for founder Mark Dweck, looks like a car and drives like a cart. Photo: Alan Neuhauser/Axios

👉 GO HERE TO CATCH UP on energy and climate deals this week.

EQT agreed to buy Copia Power, a Dana Point, Calif.-based data center power and infrastructure firm, from Carlyle for $2.6b. Go deeper

Hippo Harvest, a Pescadero, Calif.-based organic greens grower, raised a $30m Series C round led by Cox Farms and joined by Congruent Ventures, Hawthorne Food Ventures, Collaborative Fund and the Fresh Investment Club. Go deeper

Rivian, an Irvine, Calif.-based EV maker, plans to raise $1.5b by selling 75m shares of its stock. Go deeper

2. Deals of the week

Illustration of an electric plug in the shape of a lasso around the words "Energy and climate deals roundup"

Illustration: Sarah Grillo/Axios. Stock: Getty Images

🌎 Emissions up: Microsoft's latest environmental report shows the growing tension between its race to build AI infrastructure and its long-standing climate commitments, reports Axios' Amy Harder.

Its total greenhouse gas emissions are up 25%, fueled by both its growth in digital infrastructure, especially AI, and changes to the company's electricity procurement strategy.

☀️ Glass half full: A new study concludes the U.S. is still projected to achieve two-thirds of the emissions cuts from power generation that would have occurred without the rollbacks of the Biden-era climate law and regulations, reports Axios' Ben Geman. 

Low-carbon energy is surviving, in weakened form, despite the 2025 GOP budget law that slashed renewables subsidies.

💰 VC record: More venture capital dollars were invested in U.S. companies during the first half of 2026 than in any full year, according to data released Wednesday by PitchBook and the National Venture Capital Association, reports Axios' Dan Primack. 

The boost was driven by megarounds, with over 81% of the H1 2026 dollars going to deals of $100 million or more.

⚡️ Transmission funds: The Department of Energy this week closed a $3.26 billion loan to AEP Texas to help support close to 100 transmission projects, reports Latitude Media. 

The projects span 2,800 miles of transmission lines and will help AEP Texas improve grid reliability while adding potentially 41 gigawatts of new load through 2030, largely from data centers.

3. Temperature check

Illustration of an ice cream cone with a melted puddle of ice cream that looks like the earth.

My 1,900-mile road trip last week in an electric vehicle proved it's easily doable, but the charging experience is still not as seamless and convenient as pumping gas.

Why it matters: Driving an EV is delightful. Charging an EV is what gives people anxiety. Until that problem is solved, EV sales in the U.S. will remain lackluster.

Driving the news: My husband and I drove from Michigan to New Hampshire and back in a Toyota bZ on loan from the automaker's media test fleet.

I wanted to see for myself how the world's largest automaker had upped its EV game after disappointing customers with its first model in 2022, the bZ4X. (It's way better, with a bigger battery and longer driving range.)

And I was eager to try out Ionna, the fast-growing charging network owned by eight major automakers.

The big picture: This was our fourth long road trip in an EV, and they keep getting easier.

4. EV road trip: Are we there yet? Nope

Love's Travel Stop EV charging station with a canopy in yellow and red with an EV logo and heart; several cars parked underneath with a cloudy blue sky.

Love's Travel Stop in Ripley, N.Y., was the only charging station we encountered that had a protective canopy. Photo: Bill Rapai for Axios

July 11, 2026

1 big thing: Driving a (low-speed) Chinese EV