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The future Site of the city Neom, a planned cross-border city, stands empty before development begins in the Tabuk Province of northwestern Saudi Arabia, December 18, 2019. Picture taken December 18, 2019.

Lucas Jackson | Reuters

DUBAI, United Arab Emirates — If you’ve been seeing mysterious Bladerunner-type ads popping up on your phone recently for Neom in Saudi Arabia and wondered what on earth you’re looking at it’s not surprising — this futuristic desert development is eye-popping in its ambition.

With a mammoth budget of $500 billion, Neom is a key element of Saudi’s Vision 2030 plan originally launched back in 2016 as part of the kingdom’s mission to diversify away from its oil-dependent economy. Excavation work started this month along the entire length of the project.

The development has received its fair share of skepticism around feasibility, with a raft of articles in publications ranging from The Guardian to the Financial Times including commentary from architects who conclude the project is a pipe dream. Other critics note its carbon emissions among broader concerns.

Located on a coastal strip in Tabuk in the northwest of the country, there are three areas of Neom that have been officially announced — primarily The Line, a linear city with Utopian vistas straight out of a Hollywood movie.

Composed of two parallel skyscrapers that cut right through the desert for 170 kilometers from the coast to the mountains, The Line will be 200 meters wide and soar to a height of 500 meters (higher than most of the world’s towers) — and for an added surreal touch, will be encased on all sides with gigantic mirrors.

The project is based on a new concept of “zero gravity urbanism,” which is the idea of layering city functions vertically, while enabling inhabitants to move seamlessly in three directions (up, down, and across). When completed it could accommodate up to 9 million residents.

NEOM political map of the 500 billion dollar megacity project in Saudi Arabia along the Red Sea coast. Location of the smart and tourist city with autonomous judicial system. English labeling. Vector.

Peterhermesfurian | Istock | Getty Images

Cynicism toward the project is something Neom leaders acknowledge but strongly rebuff.

“I want to be clear about this — Neom is a complex, bold, and highly ambitious undertaking and is most certainly not an easy one to deliver,” Antoni Vives, chief urban planning officer at Neom, told CNBC.

“But we are making strong progress, and it’s exciting to see the vision come to life.”

While construction of this “Oz of the Middle East” is only at the beginning stages, there’s already a push to lure top international talent across industries such as tourism, technology, and entertainment to come and live and work. And there seems to be plenty of cash on the table to attract talent, with some reports suggesting Neom is paying top executives as much as $1.1 million a year.

For those who do make the leap, they’ll be signing up for a world of no roads, no cars — only flying taxis — plus a high-speed rail with an end-to-end transit time of just 20 minutes. Then there are the robotic avatars and holograms set to become part of everyday life.

The other planned Neom areas are Oxagon, a “gateway to advanced and clean industries,” which will become the largest floating industrial complex in the world — and Trojena, a year-round destination with mountain quality dry air, a ski slope, mountain biking, water sports, wellness facilities, and an interactive nature reserve.

A handout image provided by NEOM on Oct. 5, shows a view of the design plan for Trojena.

– | Afp | Getty Images

According to the planners, each area will be powered solely by renewable energy, sustainably connected, and surrounded by nature that will be re-greened and rewilded.

Aside from buzz around mind-bending Neom, there’s a larger picture emerging in the world’s fastest growing economy. According to global real estate consultancy Knight Frank, the total value of real estate and infrastructure projects since the launch of Saudi Arabia’s National Transformation Plan in 2016 has now crossed $1.1 trillion.

“We are currently tracking 15 giga projects in various phases of construction around the Kingdom, many of which are new standalone super-cities in their own right,” commented Knight Frank’s Harmen de Jong, partner and head of real estate strategy and consulting for Saudi Arabia.

For business owners who have long worked in the Middle East, Neom represents a new era. “I believe this project is unprecedented and will drive innovation and technology as we have never seen before,” Catherine Granger, the CEO of regional artificial intelligence specialist Trajan Consulting, told CNBC.

AI is set to be “the beating heart” of Neom, as outlined at the Global AI Summit recently in Riyadh.

Granger’s firm has been working closely with Neom and she believes the view of Saudi Arabia among the business community has changed inexorably. “Global multinationals now view the country as one of the most prolific business epicenters in the world,” she said.

Indeed, Neom is placed to potentially become a global gateway for international trade, not least because of its strategic location on the Red Sea through which almost 13% of the world’s trade passes — plus 40% of the global population is within a six-hour flight.

On top of enticing the hardcore business investment, Neom has grand plans for the world of art and culture, recently opening Neom Media Village and Bajdah Desert Studios which together comprise the country’s largest sound stages and film production support facilities. The aim is to transform and grow the kingdom’s media industry — another key focus of the Vision 2030 plan.

Visitors watch a 3D presentation during an exhibition on ‘Neom’, a new business and industrial city, in Riyadh, Saudi Arabia, October 25, 2017.

Faisal Al Nasser | Reuters

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Meet the newest EV from Hyundai – new HX19e electric excavator

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Meet the newest EV from Hyundai – new HX19e electric excavator

The HD arm of Hyundai has just released the first official images of the new, battery-electric HX19e mini excavator – the first ever production electric excavator from the global South Korean manufacturer.

The HX19e will be the first all-electric asset to enter series production at Hyundai Construction Equipment, with manufacturing set to begin this April.

The new HX19e will be offered with either a 32 kWh or 40 kWh li-ion battery pack – which, according to Hyundai, is nearly double the capacity offered by its nearest competitor (pretty sure that’s not correct –Ed.). The 40kWh battery allows for up to 6 hours and 40 minutes of continuous operation between charges, with a break time top-up on delivering full shift usability.

Those batteries send power to a 13 kW (17.5 hp) electric motor that drives an open-center hydraulic system. Hyundai claims the system delivers job site performance that is at least equal to, if not better than, that of its diesel-powered HX19A mini excavator.

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To that end, the Hyundai XH19e offers the same 16 kN bucket breakout force and a slightly higher 9.4 kN (just over 2100 lb-ft) dipper arm breakout force. The maximum digging depth is 7.6 feet, and the maximum digging reach is 12.9 feet. Hyundai will offer the new electric excavator with just four selectable options:

  • enclosed cab vs. open canopy
  • 32 or 40 kWh battery capacity

All HX19es will ship with a high standard specification that includes safety valves on the main boom, dipper arm, and dozer blade hydraulic cylinders, as well as two-way auxiliary hydraulic piping allows the machine to be used with a range of commercially available implements. The hydraulics needed to operate a quick coupler, LED booms lights, rotating beacons, an MP3 radio with USB connectivity, and an operator’s seat with mechanical suspension are also standard.

Like its counterparts at Volvo CE, the new Hyundai excavator uses automotive-style charging ports to take advantage of existing infrastructure at fleet depots and public charging stations. More detailed specifications, dimensions, and pricing should be announced by bauma.

Electrek’s Take

HX19e electric mini excavator; via Hyundai Construction Equipment.

The ability to operate indoors, underground, or in environments like zoos and hospitals were keeping noise levels down is of critical importance to the success of an operation makes electric equipment assets like these coming from Hyundai a must-have for fleet operators and construction crews that hope to remain competitive in the face of ever-increasing noise regulations. The fact that these are cleaner, safer, and cheaper to operate is just icing on that cake.

SOURCE | IMAGES: HD Hyundai; via Construction Index, Equipment World.

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Harbinger guarantees incentive pricing to combat Trump Administration chaos

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Harbinger guarantees incentive pricing to combat Trump Administration chaos

With the Trump Administration fully in power and Federal electric vehicle incentives apparently on the chopping block, many fleet buyers are second-guessing the push to electrify their fleets. To help ease their minds, Harbinger is launching the IRA Risk-Free Guarantee, promising to cover the cost of anticipated IRA credits if the rebate goes away.

The‬‭ Inflation Reduction Act‬‭ (IRA) 45W Commercial Clean Vehicle‬ Credit‬‭ offers up to $40,000 per medium-duty commercial EV. Originally proposaed as part of President Biden’s Green New Deal package, the incentive‬‭ was put in place to help modernize commercial fleets by overcoming obstacles like the higher up-front costs of EVs.

In the case of a Harbinger S524 Class 5 chassis with a 140 kWh battery capacity with an MSRP of $103,200, the company will offer an IRA Risk-Free Guarantee credit of $12,900 at the time of purchase, bringing initial cost down to $90,300. This matches the typical selling price of an equivalent Freightliner MT-45 diesel medium-duty chassis.

“We created (the IRA Risk-Free Guarantee) program to eliminate the financial uncertainty for customers who are interested in EV adoption, but are concerned about the future of the IRA tax credit,” said John Harris, Co-founder and CEO of Harbinger. “For electric vehicles to go mainstream, they must be cost-competitive with diesel vehicles. While the IRA tax credit helps bridge that gap, we remain committed to price parity with diesel, even if the credit disappears. Our vertically integrated approach enables us to keep costs low, shields us from tariff volatility, and ensures long-term‭ price stability for our customers.”

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Harbinger‬‭ recently revealed a book of business consisting of 4,690 binding orders. Those orders are valued at approximately $500 million, and fueled a $100 million Series B raise.

Electrek’s Take

Harbinger truck charging; via Harbinger.

One of the most frequent criticisms of electric vehicle incentives is that they encourage manufacturers and dealers to artificially inflate the price of their vehicles. In their heads, I imagine the scenario goes something like this:

  • you looked at a used Nissan LEAF on a dealer’s lot priced at $14,995
  • a new bill passes and the state issues a $2500 used EV rebate
  • you decide to go back to the dealer and buy the car
  • once you arrive, you find that the price is now $16,995

While it’s commendable that Harbinger is taking action and sacrificing some of its profits to keep the business growing and the overall cause of fleet electrification moving forward, one has to wonder how they can “suddenly” afford to offer these massive discounts in lieu of government incentives – and how many other EV brands could probably afford to do the same.

SOURCE | IMAGES: Harbinger.

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It just gets worse for Nikola as massive hydrogen recall follows bankruptcy

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It just gets worse for Nikola as massive hydrogen recall follows bankruptcy

Whoever is left at Nikola after the fledgling truck-maker filed for Chapter 11 bankruptcy protection last month is probably having a worse week than you – the company issued a recall with the NHTSA for 95 of its hydrogen fuel cell-powered semi trucks.

Nikola filed for Chapter 11 protections just a few weeks after we predicted the company would go “belly up,” reporting that the company was planning to halt production of its hydrogen fuel cell-powered semi trucks while, at the same time, Nikola’s stock had sunk to a 52-week low following a formal NHTSA complaint claiming the fuel cell shuts down unpredictably.

That complaint seems to have led to the posthumous recall of 95 (out of about 200) Nikola-built electric semi trucks.

The latest HFCEV recall is on top of the 2023 battery recall that impacted nearly all of Nikola’s deployed BEV fleet. Clean Trucking is citing a January 31, 2025 report from the NHTSA revealing that, as of the end of 2024, Nikola had yet to complete repairs for 98 of its affected BEVs. The ultimate fate of those vehicles remains unclear.

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Electrek’s Take

Nikola Coyote Container completes historic trip in fuel cell truck
Image via Coyote Container.

I’ve received a few messages complaining that I “haven’t covered” the Nikola bankruptcy – which is bananas, since I reported that it was coming five weeks before it happened and there was no “new” information presented in the interim (he said, defensively).

Still, it’s worth looking back on Nikola’s headlong dive into the empty swimming pool of hydrogen, and remind ourselves that even its most enthusiastic early adopters were suffering.

“The truck costs five to ten times that of a standard Class 8 drayage [truck],” explained William Hall, Managing Member and Founder of Coyote Container. “On top of that, you pay five to ten times the Federal Excise Tax (FET) and local sales tax, [which comes to] roughly 22%. If you add the 10% reserve not covered by any voucher program, you are at 32%. Thirty-two percent of $500,000 is $160,000 for the trucker to somehow pay [out of pocket].”

After several failures that left his Nikola trucks stranded on the side of the road, the first such incident happening with just 900 miles on the truck’s odometer, a NHTSA complaint was filed. It’s not clear if it was Hall’s complaint, but the complaint seems to address his concerns, below.

NHTSA ID Nu. 11621826

Screencap; via NHTSA.

Optionally, you could just read Hall’s summary of the Nikola situation, in his own words: “I have dealt with more tow trucks in the last 10 months than in my entire 62 years on this Earth.”

The company issued a technical service bulletin (TSB) on October 29th, just 13 days after the official NHTSA complaint was filed.

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