Iran’s President-elect Ebrahim Raisi attends a news conference in Tehran, Iran June 21, 2021.
Majid Asgaripour | WANA News Agency | Reuters
U.S. officials say they are still trying to determine exactly what’s happening, but numerous reports say there’s potentially one hijacked ship in the Gulf of Oman and the status of several others is unclear.
The situation occurred as tensions between the West and Iran have been rising, and as the U.S. and other world powers have been trying to reach a new deal with Iran over its nuclear program.
At a briefing, U.S. State Department spokesman Ned Price said “we are aware of the reports of a maritime incident in the Gulf of Oman. We are concerned. We are looking into it.”
Price said this was part of a disturbing pattern of belligerent behavior from Iran “including belligerents in the maritime domain.”
Price was referring to what military experts call a drone attack against a ship last week that killed a British crew member and a Romanian crew member aboard the ship Mercer Street.
Other U.S. officials say the situation is moving quickly, but it appears armed Iranian gunmen had boarded the seized tanker.
The incident has not moved oil prices, yet anyway. West Texas Intermediate crude futures for September settled down nearly 1% at $70.50 per barrel but they were off the lows of the day after the reports.
Lloyds List reported that the Panamanian flagged Asphalt Princess was the ship that was reportedly seized by armed men. The British navy earlier Tuesday had warned of a “potential hijack” in the Gulf of Oman, and the British military’s United Kingdom Maritime Trade Operations warned ship operators that “an incident is currently underway” off of Fujairah, according to news reports.
Tankers depicted in the Strait of Hormuz — a strategically important waterway which separates Iran, Oman and the United Arab Emirates.
ATTA KENARE | AFP | Getty Images
The Associated Press had reported that at least four ships off the coast of the United Arab Emirates broadcast warnings Tuesday that they had lost the control of their steering. The four vessels were identified as Queen Ematha, the Golden Brilliant, Jag Poofa and Abyss, according to the AP, citing MarineTraffic.com.
Helima Croft, a former CIA analyst who heads global commodities strategy for RBC, said the activity is alarming and it appears to have been some sort of action that involves the Islamic Revolutionary Guard. The IRGC is a powerful military force that Iran wields separately from the standard Iranian armed forces and it reports directly to the Ayatollah.
“It is alarming given the fact we had two fatalities on Friday,” she said. “You have to put it in the context of Iran continuing to make progress on the nuclear restart against the backdrop of a new hardline government coming to power in Tehran. It raises the risk of unintended escalation, or one side not appreciating the other’s red lines.”
This is all happening amid stalled nuclear talks between Iran and major international powers. At the same time, a new hardline president, Ebrahim Raisi, took over as of Tuesday. In the past several days he’s increased the rhetoric against the United States calling the U.S. “tyrannical.”
“We will not tie the economy to the will of foreigners,” Raisi said.
Croft said the best window for Washington to get a deal done with Iran has probably passed, now that a new government is in place.
“The fact we are now dealing with a different negotiating team in and of itself would signal the process would be more protracted,” she said. “If you add the maritime security incidents … that makes it a much bigger hill to climb to get back into the deal.”
Croft said Iran may be using a hardline stance to try to push Washington into a deal. “The Iranians may be calculating if you raise the temperature enough, Washington will fold because Washington does not want a military operation in the Middle East,” she said.
Croft said the market is singularly focused on the potential of a renewed economic slowdown and drop off in oil demand due to the breakout of the delta variant of Covid.
The escalation of tensions makes it less likely a deal will be struck soon, meaning Iran’s oil will not be back on the market. But if the tensions escalate and the activity disrupts the oil market that would impact prices.
“If we see real signs of a disruption in production or delivery the market will move very quickly,” she said.
Alireza Nader, a senior fellow at Foundation for Defense of Democracies, says the Iranian attacks on international shipping shows the policies of the Biden administration aren’t working.
“The U.S. obsession with keeping the nuclear agreement alive at all costs incentivizes the regime in Iran to take more aggressive actions against US interests without fear of punishment,” Nader said in an interview with CNBC Tuesday.
Despite an increase in tensions, Again Capital’s John Kilduff, who watches the oil market closely, said “there’s not enough here yet for me to be convinced, the market isn’t getting excited yet.”
Kilduff does believe however “the Islamic Revolutionary Guard is clearly ascendant and they have a lot of power to cause a lot of disruption.”
When it comes to battery longevity, it appears that brand matters. A recent study published by Germany’s ADAC revealed tangible, real-world differences in how the high-voltage batteries in PHEVs age across manufacturers. The results: Mercedes’ batteries came out on top, Mitsubishi trailed behind.
A recent study by the German motoring group ADAC (think of it as Germany’s equivalent of America’s AAA) and data analysts at Austrian battery firm AVILOO analyzed more than 28,500 state-of-health (SoH) measurements from plug-in hybrid electric vehicles (PHEVs) across six years and several vehicle brands. While the study found that battery degradation for most brands remains within a range consistent with an average vehicle lifespan, it turns out that one of the strongest predictors of battery longevity was the brand of vehicle tested.
In other words: not all hybrid batteries are created equal, and it seems like you really do seem to get what you pay for with batteries from traditionally pricer brands like Mercedes-Benz, BMW, and Volvo out-performing those from mainstream car brands like VW, Ford, and Mitsubishi. Here’s how ADAC broke it down:
In terms of brand comparison, Mercedes-Benz models generally show very stable battery performance up to a mileage of 200,000 kilometers. This contrasts with Mitsubishi, whose PHEVs already exhibit significant degradation even at low mileages, although this stabilizes somewhat over the course of their lifespan.
Battery degradation in vehicles from the Volkswagen Group and Volvo remains within an unremarkable range even with higher proportions of electric driving. BMW models show a noticeable variation across the entire field, depending on electric usage. In Ford models, battery capacity decreases remarkably early, regardless of the specific user group. However, predictions regarding battery condition at higher mileages are not possible due to the limited number of tests.
So, what are the big takeaways here, besides the notion that more expensive products tend to be built better than cheaper ones? It seems like most PHEVs are maintaining more than 80% of their batteries’ SoH after 200,000 km (~120,000 miles), with some of the higher-performing batteries doing significantly better.
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Still totally fine
2024 Mitsubishi Outlander PHEV; via Mitsubishi.
Again, the ADAC results shouldn’t be interpreted to mean that the Mitsubishi PHEV models aren’t perfectly serviceable, reliable offerings – just that some cars that cost a lot more than the Mitsubishi tend to have batteries that last a little longer under typical driving conditions.
ADAC also adds that, if frequent electric-only trips are on your agenda (as they are on mine), a fully battery-electric vehicle may be the smarter pick, as their batteries go through fewer charging cycles and tend to last longer than PHEV batteries as a consequence.
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At EICMA 2025, Honda finally pulled back the curtain on its first full-size electric motorcycle with the first-ever public unveiling of the Honda WN7. As someone who’s followed the electric motorcycle space for over a decade, I’ve been waiting a long time to see Big Red bring some serious voltage – and it looks like that moment has arrived.
The WN7 isn’t just a compliance bike or a modest scooter like we’ve seen for years from Honda – it’s a legitimate full-size motorcycle, albeit still a commuter motorcycle and not something you’d likely want to take on a cross-country trip.
Designed as a naked street bike in Honda’s “FUN” category, the WN7 features a peak output of 50 kW (67 hp), putting it in a similar performance class to a 600cc internal combustion motorcycle. With 100 Nm of torque, it even rivals liter-class bikes in terms of torque off the line, promising quick acceleration and agile city or highway handling.
Honda’s development team leaned into the EV strengths with a design philosophy they call “Be the wind.” The goal is apparently a ride experience that’s quiet and immersive, letting you hear the world around you while still delivering that satisfying EV torque hit.
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Visually, the WN7 sports a sharp silhouette and a horizontal LED light bar up front – a design element Honda says will become the face of its entire electric lineup. It also features a new colorway exclusive to Honda’s EVs: a black body accented with golden mechanical components.
One of the most interesting engineering decisions is the frameless chassis. Instead of a traditional motorcycle frame, Honda uses the rigid aluminum battery case itself as a central structural element, connecting both the front steering head and the rear swingarm pivot directly to it. This design not only cuts weight but also improves handling by centralizing the mass. It’s a move we’re seeing more frequently, having been employed by other electric motorcycle makers such as LiveWire as part of their S2 Arrow platform.
Honda’s powertrain includes a new liquid-cooled motor with a built-in inverter, delivering its power to a belt-drive rear wheel through a newly designed gearbox. It’s quiet, clean, and torquey – just what you want in a commuter or light touring bike.
The moderately sized, fixed 9.3 kWh battery supports both CCS2 fast charging (20% to 80% in 30 minutes) and Type 2 charging, with a claimed range of 140 km (87 miles) per charge under WMTC standards. Riders also benefit from regenerative braking with customizable deceleration levels, as well as a slow-speed walk mode for precise parking assistance.
No word yet on pricing or exact market release dates, but Honda says the WN7 will be produced in Japan and rolled out in regions “where electrification is advancing.” Perhaps that could be a clue about its entry, or lack thereof, in North America.
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Polestar may not yet be a household name, but these makers of objectively excellent, sporty EVs with Scandinavian sensibilities are doing everything they can to change that — including offering killer post-rebate deals set to take the fight to Tesla.
CarsDirect is reporting a MASSIVE $18,000 lease incentive on the sporty Polestar 3, which starts at around $67,500 for the Long Range Single Motor model and goes up to approximately $79,400 for the Long Range Dual Motor. For those of you like to see the math, that pencils out to ~25% discount from MSRP.
Nationally, the 2025 Polestar 3 features a $18,000 lease incentive. Customers who lease a 2025 Polestar 3 through Polestar Financial Services will receive the brand’s $18,000 Clean Vehicle Noncash Incentive. Customers who buy a 2025 Polestar 3 with cash or through standard financing can get $10,000 Polestar Clean Vehicle Incentive cash towards the purchase.
All Polestar 3 EVs currently offer 0% APR for up to 72 months on purchases plus a $7,500 financing bonus. This is the lowest rate we’ve seen since the vehicle’s launch, and it is now among the best 0% financing deals on an SUV.
The EV deals don’t stop there. Polestar is offering both lease and finance customers who happen Costco members can get another $1,000 off the Polestar 3, making the Swedish/Chinese crossover one of the most compelling new car deals in the business.
Polestar 3 | For the money
Polestar 3 showroom; via Polestar.
If you decide to take Polestar up on their offer, you’ll be getting a genuinely sporty five-seat entry-luxe SUV with a big battery and real, road trip-ready range.
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In the US the entry Polestar 3 Long-Range Single Motor (RWD) model starts at the previously-mentioned $67,500 MSRP (pre-rebate), and offers a 111 kWh battery pack good for an EPA-rated range of up to 350 miles. The top-shelf Performance-spec Polestar 3, meanwhile, offers an all-wheel-drive dual-motor setup that Polestar rates at 380 kW (~517 hp) that will launch you across suburbia with a 0–60 mph time in the 4 second range, albeit with slightly less range than the base model: “just” 275–315 mi, depending on wheels/trim.
The company’s CEO, German auto industry stalwart Michael Lohscheller, told Bloomberg, “For Germany, somebody outside of Germany endorsing right-wing political parties is a big thing. You want to know what I think about it? I think it’s totally unacceptable. Totally unacceptable. You just don’t do that. This is pure arrogance, and these things will not work.”
He’s hoping enough people agree to move the needle on Polestar sales in the US – and the first step to that is for consumers to get behind the wheel of this “masterfully tuned and sneaky-fast SUV,” and see if it’s a fit for them.
One thing is certain, though: at $18,000 less — the Polestar 3 is a lot more likely to be a fit for their budget than it was before! You can find out more about Polestar’s killer EV deals on the full range of Polestar models, from the 2 to the 4, below, then let us know what you think of the three-pointed star’s latest discount dash in the comments section at the bottom of the page.
SOURCE: CarsDirect; images via Polestar.
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