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Let’s talk about the Ramcharger 1500 — and why it’s different from a plug-in hybrid.

The American car buyer is a hard one to satisfy.
The freedom of the open road is embedded in our consciousness in a way it is in few (if any) other countries. A typical American consumer may want to be able to embark on a summer road-trip across the United States’ vast distances, to cram in a family of five and all their camping supplies (and maybe a dog and a canoe!), or to hitch up a trailer to haul a boat or RV wherever they might want to adventure.
We may not use all those features most of the time, but we don’t want to make a major purchase like a car, truck, or SUV to meet the average use case; if we can afford to, we buy for the edge case.
That’s why I can’t stop thinking about a recent announcement made by Stellantis, the Euro-American conglomerate behind brands like Dodge, Jeep, Ram and Alfa Romeo.
For model year 2025, Stellantis will electrify its full-size Ram 1500 pickup, following in the footsteps of GM and Ford. But unlike its rivals, Stellantis will offer the Ram 1500 REV in both an all-electric model (with 350-500 mile range) and a "range extender" Ramcharger 1500 that features around 140 miles of electric range — plus a V6 engine mated to a generator to power the vehicle when the battery is depleted.
I think it’s brilliant.
This kind of range-extended EV seems like the ideal near-term product to satisfy some of the trickiest American market segments to electrify: namely the uniquely American demand for full-size pickups and massive SUVs.
I’ve been a critic of plug-in hybrid vehicles as a bridge to an electrified future in the past. But I’ve leveled that critique against the popular “parallel” plug-in hybrid architecture, which features both a conventional internal combustion engine and mechanical transmission plus a battery and electric motor/generator.
Despite Toyota’s reputation for hybrids, Stellantis is actually the undisputed king of plug-in hybrids in the U.S. already, with plug-in hybrid versions of popular models like the Jeep Wrangler and Cherokee and the Chrysler Pacifica minivan selling at a record pace in recent months.
While this common plug-in hybrid architecture could be right for many Americans reluctant to fully electrify (especially those without access to dedicated Level 2 charging), they suffer from one big drawback: they carry around the full drive train — and all the baggage and cost — of both a conventional gas-burning vehicle and a full battery EV. Duplicate drivetrains means they’ll never be cheaper than a pure internal-combustion or electric car. And with limited space on board to cram in a big battery, these vehicles sport a modest 20-40 mile all-electric range.
(Listen to this recent episode of Shift Key for more on my problems with plug-ins and a discussion of recent U.S. electrified vehicle trends)
In contrast, a “range-extended EV” or “series” plug-in hybrid (or whatever we start calling this other third thing) like the new Ramcharger is a fully electric-drive vehicle. There’s no mechanical transmission to power the wheels. It simply has a compact gasoline engine, tuned to run at a single, most-efficient speed, married to a generator that can produce electricity to run the electric motors when the battery is depleted.
Thanks to the extended range provided by the gasoline generator, these vehicles can drop battery mass and cost, squeeze in a gasoline engine and fuel tank, and still come out comparable on cost as a pure EV with substantially longer range than parallel plug-in hybrids.
The Ram 1500 EV needs a massive 229 kilowatt-hour (kWh) pack to deliver an as-advertised 500 mile range. (The 168-kWh battery for the 350-mile-range version is also huge, 85% larger than the pack in my extended range Mustang Mach-E which gets about 300 miles range.)
In contrast, the Ramcharger has a 92 kWh pack and offers about 145 miles of all-electric range.
The range-extended series hybrid thus sheds 137 kWh of batteries vs. the 500 mile range EV. At about $100+ per kWh to manufacture and assemble those incremental battery cells, that saves Stellantis at least $14,000 to manufacture the truck. A new V6 engine costs about $5,000-10,000 retail and surely much less for an automaker to manufacture, so swapping batteries for the V6 nets a significant cost savings.
The economics and capabilities of a range-extended EV thus make a lot of sense, especially for massive vehicles like the full-size trucks and SUVs so many Americans love. And they squash any concerns about range anxiety that might give buyers pause — especially those interested in towing something, which decimates the range of the all-electric pickups on the market today.
At the same time, more range-extended EVs on the road would reduce demand for D.C. fast chargers — which are especially scarce in the more rural areas of America where the full-size pickup is king. You can still charge these vehicles at a D.C. fast charger (if you can find one), but you can also pull into any gas station to extend range on road trips.
Meanwhile, a 100+ mile electric range is sufficient to cover around 99% of trips taken in personal vehicle in America. Plus, even when running in generator mode, a series electric drive train with regenerative braking is more efficient than a pure internal combustion drive (especially when the internal combustion generator can bypass the battery to directly power the electric motors, as it can in the Ramcharger). Near-term adoption of range-extended EVs could deliver substantial reductions in both emissions and gas use.
Sound familiar? That’s because this was exactly how the original Chevy Volt and BMW i3 range extended option were configured way back in 2011. Why GM didn’t continue down this path to electrify their massive Silverados, Sierras, and Escalades is beyond me.
Stellantis isn’t the only automaker going down this path. Mazda has struggled to get a competitive EV out, with their MX-30 offering a paltry 100-mile range. So they’re launching a range-extended version with a compact 830cc rotary engine (one of Mazda’s core IPs), which could turn the compact SUV into a truly viable product. Across the Atlantic, Nissan also offers a series hybrid drivetrain marketed as e-POWER in Europe and the U.K.
Building range-extended battery EVs is also a good way for manufacturers to develop experience with all-electric vehicle architecture and achieve economies of scale in production. A series hybrid can ride on the same all-electric platform as a full battery electric variant — as in the case of the Ram 1500 REV and Ramcharger — which is key to keeping manufacturing costs low. (Several Chinese automakers took this route.) In contrast, a parallel plug-in hybrid always shares a platform with its pure fossil fueled siblings.
Finally, the U.S. is embarking on a strategic effort to onshore and “friend shore” the whole EV battery and critical minerals supply chain. It’s going to be a serious challenge. Cutting the size of battery packs in electric full-size pickup and SUVs in half makes that a lot easier.
So are range-extended EVs with 100 mile range the electrified vehicle Americans are waiting for? If they're demanding big vehicles, towing capacity, and long-distance travel away from cities and interstates — e.g. exactly the segments hardest to satisfy with a pure EV — the answer might be yes.
Editor’s note: A previous version of this article used “personal vehicle miles traveled” instead of trips taken in personal vehicles. It’s been updated.
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SoftBank’s error and Nvidia’s scandal suggest data centers may have already peaked as an economic and energy trend.
This is Heatmap Daily, a weekday digest written by our executive editor. Subscribe here.
Covering energy and climate change sometimes means seeing certain stories in a different light than others. And a particularly vivid hue illuminated The Wall Street Journal’s report today that the Japanese conglomerate SoftBank Group is taking a $3.7 billion loss on several gigawatts’ worth of natural gas turbines.
For the Journal, the big news is that SoftBank and its billionaire founder, Masayoshi Son, are failing to capitalize on the artificial intelligence boom. But at Heatmap, we’re thinking about the turbines.
The data center boom and the return of electricity load growth has depleted the world’s supply of natural gas turbines. SoftBank had purchased reservations for about 13 gigawatts of turbines, according to the Journal. That’s a staggering amount of electricity — it could meet New York City’s maximum power draw on the hottest part of a summer’s day. The conglomerate now seems set to dump reservations for about four gigawatts’ worth. Keeping a reservation, it turns out, really is harder than making it.
Most of those rotors were reportedly from GE Vernova, one of the world’s largest producers of gas turbines. GE Vernova’s order list for gas turbines has been filled for nearly two years and the waiting list now stretches into 2031. That has led data center developers, hungry to get power as soon as possible, to reach for ever dirtier forms of electricity generation, including diesel generators and even old jet engines.
On that front, SoftBank’s failure to sell the turbines to a higher bidder suggests (albeit weakly) that demand for energy-producing assets might not be as strong as the AI boom’s backers once thought. SoftBank was already set to send about 9 gigawatts of turbines to the enormous Trump-backed OpenAI data center in Pike County, Ohio. The roughly remaining four gigawatts will be released back their manufacturers. (One thing this news can’t quite tell us, alas, is what type of turbine set-up will be used in the Pike County facility, which will be the world’s largest gas-fired power plant if it is build to completion. Recent public filings have suggested the facility isn’t planning on using any turbines in the more efficient combined-cycle configuration, which would mean the plant’s carbon intensity will be worse than most other new natural gas plants. But we’d love to hear any tips on this front.)
To zoom out for a second, I’m struck by how the AI bubble has been replaced by an AI muddle. As I wrote this, news emerged that Nvidia is preparing to fire its CEO, Jensen Huang, for his affair with a Chinese woman who is alleged to be a spy. (He had at least one more affair with another Nvidia executive, according to The New York Times.) Under Huang’s leadership, Nvidia has invested in a sprawling and sometimes circular network of energy-related companies, including Emerald AI, a startup that helps data centers flex their electricity consumption, and Redwood Materials, a battery recycler and producer led by the former Tesla executive J.B. Straubel. Huang has used Nvidia’s enormous balance sheet to buy down the risk of other AI and AI-related companies, propelling the overall AI trade to become the biggest story in American markets.
Now that balance sheet is in peril: Nvidia’s stock is already down 11% over the past five days, and it has fallen another 8% in after-hours trading since news broke of Huang’s ouster. If the chip designer’s financial network began to fray — or even if the next CEO had a lower risk appetite than Huang — then its demise could impact a much larger set of firms.
Even before the Huang scandal broke, companies at the center of the AI trade were showing signs of weakness. Alphabet, Meta, and Microsoft are all down on the month. Nvidia was already lagging by about 10% on the month before its hebdomas horribilis began, too. The memory and chip makers Micron and Applied Materials are both down more than 25% in about the same period, and GE Vernova and Oklo have fallen nearly 20%. Although the data center company Coreweave rebounded on an earnings beat today, it’s still down 24% on the month and nearly 50% since May.
The market rout isn’t total — Anthropic seems likely to enjoy one of the largest IPOs ever in the next week (although perhaps not with quite as large a valuation as its investors once imagined). And the underlying technology of AI seems to be getting worryingly better all the time. But even though the politics of data centers and AI seem set to dominate the new Washington, I’m wondering if data centers as a mainstream economic trend might have already peaked. Americans voted for a more subdued AI boom in the midterms. Now it seems like they might get it ahead of schedule.
Lunar Energy’s latest AI-powered system aims to integrate EVs into the automated demand response mix.
In theory, it’s straightforward to assemble the smart energy home: Solar panels, home backup batteries, and electric vehicles, plus smart thermostats, heat pumps, and water heaters — all the individual pieces can be had for the homeowner who can afford the up-front cost. The challenge is getting all those pieces to talk to one another.
Bay Area-based Lunar Energy is one of the tech firms that’s been trying to crack this problem. Today, it announced an upgraded version of its artificial intelligence-powered home energy control system, which not only integrates all those separate systems but also responds tactically to energy markets. CEO Kunal Girotra told me Lunar AI saves its users money by monitoring their home 24/7 and making decisions to charge, not to charge, or discharge so that they save the most money.
“Utilities are all moving to almost-real-time changes of rates,” he said. “You need software to handle that for you. I think that the race is on for who has the best AI machine learning algorithms to save the most amount of money. And so far, we seem to have a head start.”
Lunar’s first-generation system focused on generation, storage, and control. In other words, it connected elements like a home’s rooftop solar panels with the backup battery the residents might keep in the garage, using the AI to decide when to meet the home’s real-time energy needs with solar versus grid energy versus stored power. What it didn’t have was the ability to work with electric vehicles to manage charging and use the car’s battery as a bonus source of energy.
To fix this, Lunar has built its own bidirectional EV charger — one that can charge up the battery or discharge the car’s battery for a secondary use, like backing up the home’s power supply. Girotra, formerly the head of Tesla Energy, told me the problem with that functionality to this point has been the connection point between the car and the home electrical system. Carmakers and other companies in the space didn’t have the deep experience with electrical certifications to make the process seamless, he tells me. That led to setups like the original Ford Charge Station Pro, which required several different wall-mounted electrical boxes to connect the F-150 Lightning EV to the home.
Lunar’s charger is built to connect to its customers’ existing home Lunar energy system, which includes a microgrid interconnect device they call Lunar Bridge that islands the home in case of a power outage on the grid. In that way, the power stored in the EV battery is ready to back up the home in case of a blackout without any additional work — or to be optimized as part of a fully smart home that’s making money as part of a virtual power plant.
The company’s setup allows for another fun feature: “slow” charging that’s not slow at all, but actually two or three times as fast as the Level 2 charging most EV owners use to recharge their batteries overnight. Electric cars in the U.S. can typically take on only about 11 kilowatts of AC power from one’s home because of the limitations of their on-board hardware. Because Lunar’s system is fully DC, however, Girotra said the company decided to build a DC home charger, one that — like a Tesla Supercharger or other DC fast chargers out in the world — isn’t limited by that power cap. Lunar said it could use a combination of power from the grid, home solar, or home batteries to charge an EV at up to 25 kilowatts. That’s enough to recharge an EV in three to four hours rather than six to eight.
“If the standards get high, and if everybody sees cars can get charged in three hours, then all of a sudden people are like, ‘Wow, this is how I want it,’” he said. “Especially for 25% of the users who are like me, who always are running low on charge and they don’t mind a boost every now and then.”
Some of the other improvements in the second-gen system are more incremental. An inverter that’s 40% more powerful helps Lunar get its system up to enterprise scale. That’s crucial, as the world moves toward a place where more homes and businesses employ battery backup systems. Lunar’s new batteries come in modular 5 kilowatt-hour blocks ranging from 10 kilowatt-hours to 30 kilowatt-hours in a single unit and scale up to 300 kilowatt-hours for home or small commercial use; there’s also new pad-mounted configurations with capacity up to 1 megawatt-hour.
Batteries, though, are the simple part. Everyone from EV makers like Rivian to utilities like Octopus Energy is racing to make a person’s or a business’s batteries and solar panels and electric cars work for them, using the power of AI to account for moment-to-moment changes in energy prices and supply. Lunar’s new tech makes the case that the most important element is a single brain to integrate every last smart, electrified thing in your house.
The fundraise comes on the heels of a $50 million grant from the Department of Energy.
Almost all lithium-ion batteries on the market rely on graphite for their anodes, more than 90% of which is processed in China. That concentration has created a chokepoint in the Pentagon’s supply chain as the military increasingly turns to batteries to help its transportation network operate more quietly and reduce reliance on complex refueling logistics.
So when Congress passed the latest National Defense Authorization Act at the end of 2025, barring Chinese-linked battery materials from military use starting in 2028, Coreshell saw an opening. While the California-based silicon-anode battery startup had previously focused on automakers as its beachhead customers, it’s now shipping its first battery cells to the military for use on Navy ships and Army ground vehicles. On Wednesday, Coreshell announced a $30 million Series B to scale up manufacturing operations to meet the needs of this growing customer base.
“We’re entering a new stage where we’re no longer, I would say, demand limited,” Coreshell’s CEO Jonathan Tan told me. “This year we’ve had to put on second and third shifts, work nights and weekends, just to get the product out the door.”
Coreshell sets itself apart by going a step further than the NDAA requires. The law doesn’t make suppliers trace battery materials all the way back to the mine, which would be exceedingly difficult given China’s dominance across the battery supply chain. But Coreshell has nevertheless eliminated Chinese sourcing from its anodes by replacing graphite with silicon mined and refined in the U.S. by Ferroglobe, one of its Series A investors.
Ferroglobe and global investment firm Access Industries led the latest round, with defense contractor ADS also joining as a new strategic investor. The financing comes on the heels of a $50 million Department of Energy grant that Coreshell secured in August as part of a program to strengthen the domestic battery supply chain. That funding will support the company’s first commercial-scale facility, a 2-gigawatt-hour factory.
That’s about 20 times the size of the 100-ish-megawatt-hour plant the startup had originally envisioned, as the DOE grant has allowed Coreshell to “expand much further than we were originally expecting,” according to Tan. The company is now evaluating several potential U.S. sites and expects to announce its selection early next year. For now, it relies on unnamed contract manufactures, along with its small pilot line in San Leandro, to produce its cells. But once the gigafactory gets up and running, the startup plans to bring electrode production in house by 2028, followed by full cell assembly in 2029.
Building this plant will ultimately require significant additional capital. But Tan believes this latest vote of confidence from the federal government will help Coreshell to diversify its capital stack as it continues to fundraise. “That’s one of the great things about having such a notable DOE award is that it also allows us to attract multiple forms of capital,” he told me.
Silicon has long been recognized as a promising alternative material for battery anodes, as it can store far more energy than graphite. The catch is that it tends to swell during charging, causing it to break down quickly and ultimately leading to a much shorter cycle life. Coreshell says it’s extended its anode’s lifespan by giving it a proprietary coating, which Tan told me back in April essentially means “painting the inside of your battery” with an ultra-thin protective layer.
Other companies, such as Sila Nanotechnologies and Group14 Technologies, are also working to commercialize silicon anodes. But Coreshell says many of its competitors rely on more highly engineered, expensive forms of silicon, such as silane gas. By contrast, Coreshell uses metallurgical silicon, a cheap, raw commodity already widely used in aluminum alloys. That, Tan argues, gives the company a cost advantage not only over its competitors, but potentially Chinese graphite too.
Coreshell hasn’t yet demonstrated that its cells can meet the performance demands of the automotive industry, however. When the company raised its Series A in early 2025, it said it expected its automotive cells to exceed 1,000 charge cycles while retaining 80% of their original capacity. But Tan told me many defense applications don’t require such demanding performance targets, as Navy ships and ground vehicles are “not intending to have as many miles or missions or use cases on that same battery” as a consumer EV would.
That doesn’t mean the company is abandoning its automotive ambitions. As Tan pointed out, electric vehicles remain by far the largest source of global and domestic battery demand. “It’s natural for us to obviously utilize the security supply chain first,” he told me. “That allowed us to really get to commercialization, revenue, and production faster, because automotive qualification is this longer journey. But ultimately, we want to do both of those and more.”