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German Chancellor Olaf Scholz last week announced a package worth 200 billion euros ($198 billion) designed to help with soaring energy prices. The “defensive shield” includes a gas price brake and a cut in sales tax for fuel.

Steffi Loos | Pool | Reuters

Amid downbeat predictions of a recession in Germany and the wider region, analysts at one Wall Street bank have shared wider concerns about violent bond market moves and European governments looking to borrow vast sums of money.

German Chancellor Olaf Scholz last week announced a package worth 200 billion euros ($198 billion) designed to help with soaring energy prices. The “defensive shield” includes a gas price brake and a cut in sales tax for fuel.

The proposals could cut 2 percentage points off inflation in the next year, according to Citi, but they are unlikely to prevent an economic contraction. The package “may soften the coming recession but also poses risks, in our view,” Citi analysts said in a note released last Friday.

Those risks relate to the question of how the package will be financed and what that could do to inflation, to Germany’s sovereign bond yields, to the European Central Bank’s benchmark rate, and to the borrowing plans of other euro nations that may do the same.

Germany’s example

“The risk is that others may follow that example,” Christian Schulz, deputy chief European economist at Citi, told CNBC’s “Street Signs Europe” on Monday.

Schulz noted the U.K.’s recent bond market blowup after unfunded tax cuts by the British government. Rate expectations and bond yields surged in Britain last month after a swathe of tax announcements. It caused the Bank of England to unleash a new bond-buying plan, mayhem in the mortgage market and talk of a housing crisis.

Schulz said Germany could “afford” any debt financing thanks to its low debt-to-GDP ratio and lower external funding needs, but the package could open the door for less fiscally prudent countries to want to borrow large amounts and issue new debt — potentially leading to trouble like that seen in the U.K. Citi predicts that German debt financing could also force tighter ECB policy, which could then also send yields surging in the euro area.

“The risk is that this same dynamic [seen in Britain] evolves on the continent as well now,” Schulz said.

Berenberg: German mid-cap exposure to a recession is substantial

“The way [Germany] want[s] to do it is by using an existing SPV [special purpose vehicle], an off balance sheet fund …. whether that’s going to lead to borrowing or whether it’s going to lead to guaranteed loans — because this fund can do both — we shall see,” he added, referring to the 200 billion euro plan.

Germany’s Federal Audit Court criticized the government and suggested it had dodged tax rules to fund the package, according to Politico.

Other banks and institutions pointed to the difficult environment in Germany — the largest European economy and an engine room for euro area growth — which is now trying to abruptly wean itself off of Russian fossil fuels.

Berenberg Economics said in a recent note that consumer confidence in Germany, and the euro zone more generally, has plunged to a record low, which it said is “a prelude to recession.” Indeed, the Institute for Economic Research predicts investment will plummet by 25% and expects a German recession in 2023.

Deutsche Bank analysts estimate that the “defensive shield” could boost household income and limit the projected GDP decline in 2023 to around 2%. That’s better than their previous forecast of a 3.5% contraction.

Recession may be on the cards

ECB President Christine Lagarde hinted at further interest rate hikes, saying on Sept. 28 that the bank was “not at neutral rates yet.”

More pain in the pipeline for Germany, economist warns

Speaking at the Frankfurt Forum, Lagarde said the latest hikes — most recently an unprecedented 75 basis point increase in September that demolished the region’s track record of negative rates — were just “the first destination on the journey.” The ECB president said the institution would “do what [it has] to do” in order to return to its 2% inflation target in the medium term.

While the EU and U.S. will see positive growth this year overall, “the signs are there of a slowdown and a recession can no longer be ruled out,” European commissioner for economy, Paolo Gentiloni, told CNBC’s Annette Weisbach at the Frankfurt Forum. “We are entering a phase of stagnation and possible recession,” Gentiloni said via video link.

That sentiment was echoed by World Trade Organization director-general Ngozi Okonjo-Iweala. “My worry is that all indicators are going in the wrong direction,” Okonjo-Iweala told CNBC’s Julianna Tatelbaum in Brussels at an emergency energy meeting last month — but she said she disliked the word “recession.”

“Let’s say ‘slowing’ and let’s say we are inching towards the ‘R’,” she said.

WTO chief: All the indicators are going in the wrong direction

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July Prime Day 2025 Green Deals: EVs, power stations, tools, appliances, more

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July Prime Day 2025 Green Deals: EVs, power stations, tools, appliances, more

It’s that time of the year once again, with Amazon’s Prime Day officially kicking off with plenty of amazing Green Deals and beyond – with several even continuing from earlier July 4th events. The savings train has officially rolled into the station, and this year we’re getting four days of deals that are dropping prices to some of the lowest of the year, alongside many of our favorite eco-friendly tech brands also offering direct parallel sales too. You’ll find price cuts on EVs, power stations, electric tools, ENERGY STAR-certified appliances, and much more below, curated together in this one-stop shopping hub. Don’t miss your chance to electrify your life at the best prices while they last during this event. We will be regularly updating this hub over the course of the event, so check back later if nothing catches your eye yet.

July Prime Day 2025 Green Deals

EcoFlow power stations

Prime Day Power Station Green Deals

Segway Xyber e-bike

Prime Day EV Green Deals

ECOVACS robot lawn mower

Prime Day Garden and Lawncare Green Deals

aiper smart device

Prime Day Appliance and Device Green Deals

***All prices subject to change at any time…cash in while you can!

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Rivian R1 Quad kick turns into the new EV Halo car brand

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Rivian R1 Quad kick turns into the new EV Halo car brand

Rivian flew us out to Lake Tahoe to show off the crazy capabilities of its new quad-motor powertrain on both its R1T pickup truck and R1S SUV. Rivian’s original R1S and R1T were quad-motor vehicles, but as of the second generation of the R1 platform, only dual and tri-motor variants existed. So why quad? Why now?

First of all, let’s get the specs out of the way. The new Rivian Quad is a beast, all the way from its $120,000 price tag to its over 1,000 horsepower and 1200 lb-ft torque.

  • Prices for R1T start at $115,990 USD / $190,990 CAD and the R1S starts at $121,990 USD / $201,990 CAD – Deliveries begin summer 2025
  • Launch Edition R1T starts at $119,990 USD / $196,990 CAD and Launch Edition R1S starts at $125,990 USD / $207,990 CAD. Rivian is reintroducing Launch Edition for the Gen 2 Quad, celebrating the configuration that first defined our commitment to all-electric performance and adventure.
  • Destination and freight charge is $1,895 USD / $2 ,695 CAD
  • Powertrain: Horsepower: 1,025 hp Torque: 1,198 lb.-ft.
  • Performance 0 – 60 MPH 2 .5 sec R1T, 2 .6 sec R1S, ¼ Mile Time 10.5 sec, VMax 130mph
  • Range: EPA-estimated up to 3 74 miles of range (Up to 400 miles in Conserve mode)
  • Charge Port: NACS (North American Charging Standard)

How does one characterize this massive spec monster in the larger vehicle landscape? Before we try to get our head around that, there is more.

The Rivian R1 Quad brings back tank turn as a new feature: Kick Turn – And it is actually useful.

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From our history books, we know that one of the features that the original R1 Quads touted was the ability to turn in a circle/spin on its axis by having its right side wheels spin one way and its left side wheels spin the other. While the ‘tank turn’ disappointingly never made it to the original production vehicles, Rivian hadn’t let go of the idea.

Kick Turn.

The New R1 Quads bring back the ability to turn/spin on a dime when offroading. However, this isn’t just a parlor trick. It is actually useful when negotiating tight switchbacks.

Here’s what it is like to invoke the “Kick Turn” from inside the vehicle. Unintuitively, you don’t want to turn the steering wheel. Instead, you simultaneously push both steering wheel buttons in the direction you want to turn.

The same maneuver from behind:

I was able to use and master the kick turn pretty quickly after trying it for the first time and it is sooooo fun….and useful. Rivian says that the kick turn should only be done on gravel and loose dirt. But I could see ejecting out of a parallel parking spot with this feature…or doing a U-Turn on a country road.

I imagine the wear on the tires that are already taking a beating from this super heavy vehicle doing 2.5 second 0-60s is massive. Rivian says that the standard tires are guaranteed for 30,000 miles but imagine that loses a few miles every time a kick turn is invoked.

Perhaps most devestating, the original Rivian Quads won’t get the Kick Turn functionality. As an owner who was excited about the tank turn functionality when making my buying decision, I’m not pleased. Rivian says that the controllers for the original Quad Motors aren’t tuned and accurate enough to master the move. I’m ready to sign a petition that Rivian try anyway.

Quad offers four different wheel and tire options:

  • 22” Super Sport
  • 22” Sport Burnished Bronze
  • 20” All-Terrain Dark
  • 20” Dune Satin Graphite All-Terrain

Also, there will be Launch Editions:

Rivian is reintroducing Launch Edition for the Gen 2 Quad, celebrating the configuration that first defined our commitment to all-electric performance and adventure. The new Launch Edition Quad will feature an exclusive “Launch Edition” IP badge and a suite of special features, including:
Two standard colorways:

  • Launch Edition exclusive: the return of Launch Green paint with Black Mountain + Brown
    Ash Wood interior
  • Storm Blue paint with Slate Sky + Walnut Wood interior
    Additional included features:
  • Lifetime Rivian Autonomy Platform+
  • Lifetime Connect+
  • Camp Speaker
  • Gen 2 Key fob

NACS native

One more nice thing about the Rivian R1 Quad is that it is the first Rivians, and one of the first non-Teslas overall, to have the NACS port standard. This allows the vehicle to charge at most Tesla chargers without adapter. The flip side however is that it will need the included CCS adapter to charge at most other network charging stations including Rivian’s own RAN charging network, at least until the networks and Rivian switch their chargers over to NACS. We had success on a V4 Supercharger near Lake Tahoe but obviously weren’t able to test the charging speed or charging curve since the vehicles we were given started at 80%.

One other nice trick is that the Quad has a control panel that allows the driver to make their own drive modes.

RAD Tuner (exclusively on Quad, coming in September): Developed by the Rivian Adventure Department, a team of engineers, software developers and designers who create and test features that push the boundaries of our vehicles.

Rivian drivers will have better control over their vehicle’s dynamic behavior. Through intuitive sliders, you can fine-tune ride handling while creating personalized and savable drive modes.

Start from scratch or build upon presets like “Rally” or “Sport.” There are even preset modes that were born from real-world triumphs:

Desert Rally mode was meticulously engineered during the 2023 Rebelle Rally, a grueling competition where the R1T made history as the first fully-electric vehicle to ever win

Hill Climb mode was honed at the legendary Pikes Peak International Hill Climb, where
in 2024, our R1T conquered the race as the fastest production truck to ever make the
ascent.

Oh and Rivian now lets you record Launch Mode with Launch Cam so those 2.5 second 0-60s where you beat the Ferrari off the line can now be downloaded and shared with friends on social media. The videos include real-time stats like speed and distance overlays. Unfortunately Rivian no longer includes an interior camera to capture passengers’ reactions.

Electrek’s take

At a starting price near $120K and realistically over that with some bells and whistles, the Rivian R1 Quad vehicles aren’t going to have mass appeal. In fact, I don’t think these will even be Rivian’s top sells since the $80,000 Rivian vehicles with dual motors are almost as good (and better on efficiency).

However, Rivian is really trying to build its brand ahead of the R2 launch and this vehicle is as adventurous as it gets, electric or otherwise. Think about it: This is a 7-seat, off roading monster that will beat almost any supercar off the line…and can now spin on a dime.

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Kia reveals the sleek new EV5 for Europe with up to 329 miles range

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Kia reveals the sleek new EV5 for Europe with up to 329 miles range

Kia is entering Europe’s most competitive EV segment with the upgraded EV5. It’s slightly smaller than the Tesla Model Y, but Kia says the EV5 is “a cornerstone” to its growth strategy in Europe.

Kia EV5 lands in Europe

After launching the EV5 in China in November 2023, Kia’s electric SUV quickly became a hit. It’s already leading Kia’s comeback in the world’s largest EV market.

Although Kia has introduced the EV5 in other markets, including Australia and New Zealand, this is the first time it has revealed specs for the upgraded version specifically designed for Europe.

The upgraded EV5 is powered by an 81.4 kWh battery offering up to 329 miles of WLTP range. Unlike the Chinese version, which uses a BYD LFP Blade battery, the European version features a nickel-manganese-cobalt battery pack.

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It will be available in baseline and GT-line models. All EV5 variants can recharge from 10% to 80% in as little as 30 minutes.

Both variants are offered in FWD with up to 215 hp (160 kW) and 218 lb-ft (295 Nm) of torque. Kia’s electric SUV also includes bi-directional charging, including vehicle-to-load (V2L) with up to 3.6 kW of power.

Kia-EV5-Europe
Kia EV5 GT-Line for Europe (Source: Kia)

The exterior remains essentially unchanged from the version sold in China, featuring an upright stance similar to that of the larger EV9.

The European-spec EV5 measures 4,610 mm in length, 1,875 mm in width, and 1,675 mm in height, which is slightly smaller than the Tesla Model Y. It’s closer in size to the Hyundai IONIQ 5.

Kia-EV5-Europe
Kia EV5 baseline trim for Europe (Source: Kia)

Inside, the EV5 “creates a lounge-like environment” with comfort-focused seats that include massage functions, heating, and ventilation.

The interior is centered around Kia’s new ccNC (connect car Navigation Cockpit) infotainment system. The setup includes dual 12.3″ driver clusters and infotainment screens in a panoramic display, plus a 5.3″ climate control display.

Kia-EV5-Europe-interior
Kia EV5 GT-Line interior (EU) (Source: Kia)

Kia will build the upgraded EV5 for Europe in Korea, unlike the Chinese version, which is produced by its joint venture Kia Yueda.

Although prices have yet to be confirmed, the EV5 will sit between the EV3 and EV6 in Kia’s lineup. Given the EV4 starts at £34,695 ($47,700) and the EV6 is priced from £39,235 ($53,200), the EV5 is expected to start at below £40,000 ($55,000) in the UK.

Kia-EV5-Europe-interior
Kia EV5 GT-Line interior (EU) (Source: Kia)

Sjoerd Knipping, Kia Europe’s COO, said that “The EV5 is a cornerstone of Kia’s European growth strategy.” He added that the electric SUV is “tailored to the way Europeans live, work, and drive.”

Kia has already confirmed the EV5 will be sold in other global markets, including Canada. However, it will not arrive in the US.

The company said it will launch the EV5 “exclusively for the Canadian market” in North America. It will be available with FWD and AWD powertrains, as well as two battery sizes: 60.3 kWh and 81.4 kWh, offering a range of up to 310 miles (500 km).

What do you think of Kia’s new electric SUV? Would you buy one over the Tesla Model Y or the Hyundai IONIQ 5? Let us know in the comments.

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