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In order to qualify for the $7,500 tax credit, the Biden administration’s Inflation Reduction Act (IRA) requires a proportion of battery minerals in EVs to be extracted or processed in the US or free-trade partner countries. But a lot of automakers simply aren’t prepared for that requirement.

Electrek spoke with Megan O’Connor, cofounder and CEO of Nth Cycle, a Beverly, Massachusetts-based metals processing tech company, about how her company can help EV manufacturers address this challenge quickly.

Electrek: How will the IRA positively impact the critical mineral supply chain?

Megan O’Connor: The IRA is the most ambitious climate policy we’ve ever seen in the US and arguably one of the more aggressive policies in the world. It provides strong incentives for the usage of critical minerals that are refined or recycled domestically. We’re calling this the new “compliant supply” of minerals like nickel and cobalt.

Unfortunately, there’s not enough compliant supply today to meet the demand for critical minerals in North America to build electric vehicles. From 2024 to 2028, there’s going to be a major imbalance between compliant supply and demand.

There aren’t enough end-of-life EV batteries to allow recycling at a scale that can bridge the gap, and permitting new mines in North America is a five-plus-year process. We need to move quicker and responsibly on new mining opportunities, and look for new existing sources of critical minerals that can be recycled at home.

Electrek: What’s next for the clean energy transition when it comes to domestic mineral supply?

Megan O’Connor: Flexibility in refining is the next key factor in developing a compliant supply of critical minerals at home. Adding flexibility to the quality and consistency of ores and recycled materials that can be refined at home increases our ability to keep mined ores and recycled metals here when they’re currently shipped overseas for processing.

Additionally, most recyclers today focus on processing end-of-life or manufacturing scrap batteries for critical mineral sources. We expect to see companies and technologies go beyond batteries to find other sources of critical minerals already in circulation at home. Growth of new technologies and market expansion will be needed to address the imbalance between compliant supply and demand.

Electrek: How will domestic manufacturers like VW in Tennessee be able to rectify the issue of mineral components not meeting IRA requirements?

Megan O’Connor: By partnering with Nth Cycle, VW would be able to meet compliance in months, not years.

Electrek: How is Nth Cycle helping to meet the IRA requirements in the electrification transition?

Megan O’Connor: Nth Cycle produces a mixed hydroxide precipitate (MHP), which contains nickel and cobalt. Production of MHP through laterite ore refining is growing in popularity as a precursor chemical for battery cathode manufacturers.

However, 81% of today’s MHP supply is refined in Indonesia, by Chinese companies, through a carbon-intensive hydrometallurgy refining process called HPAL (high-pressure acid leaching). This HPAL-based supply of MHP is harmful to the environment, and as a foreign supply, is not a compliant supply of critical minerals for domestic battery manufacturing under the recently passed Inflation Reduction Act.

Nth Cycle customers can have confidence in a domestic supply of MHP that meets compliance standards for EV tax credits under the Inflation Reduction Act while dramatically reducing the carbon footprint of domestic refining.

We can bring additional compliant supply to the market and close the supply/demand gap of 150,000 tonnes of Ni (equivalent to 340 GWh of batteries) over the next five years.

If we were fully deployed right now, Nth could find 100kt tonnes of Ni per year from within the US that isn’t currently being recycled. We estimate a further shortage of at least 50kt of Ni per year.

Our electro-extraction technology is 92% lower emissions than traditional refining processes in mining today and 44% lower emissions than today’s best-in-class recycling technologies. This is third-party verified.

Read more: Here’s every electric vehicle that qualifies for the current and upcoming US federal tax credit

Photo: Megan O’Connor, Nth Cycle

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Heybike’s latest ALPHA all-terrain e-bike hits new $1,499 low, Hiboy takes 50% off EVs, AeroGarden Harvest 2.0 at new $35 low, more

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April 9, 2025

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Heybike's latest ALPHA all-terrain e-bike hits new ,499 low, Hiboy takes 50% off EVs, AeroGarden Harvest 2.0 at new low, more

We’ve got new and returning lows in our Green Deals today, starting with Heybike’s early Easter flash savings that are seeing up to $500 in discounts (and bonus free gear) across its e-bike lineup, including the latest ALPHA All-Terrain e-bike hitting a new $1,499 low. Right behind it is Hiboy’s Spring Sale offers that are taking up to 50% off e-scooters and e-bikes alike, like the new S2 SE Electric Scooter returning to its $300 low. Lastly, AeroGarden has a collection of its indoor hydroponic systems getting some big price cuts, led by the 6-pod Harvest 2.0 falling to a new $35 low. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s massive Anker SOLIX Easter Sale lineup, the switched around Lectric April sale offers, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Heybike early Easter flash sale drops latest ALPHA all-terrain e-bike with 60-mile range to new $1,499 low

Heybike has launched a short-term early Easter flash sale with up to $500 being cut from its e-bike prices alongside some free gear packages. One notable inclusion is the brand’s latest ALPHA All-Terrain e-bike that is dropping to $1,499 shipped. Having just hit the market in February with a $1,699 price tag, we saw it launch for preorder with a $100 discount which continued through the subsequent sales until today. Now you can grab it with a $200 markdown, giving you the means to commute anywhere at a new all-time low price.

The Heybike ALPHA e-bike comes with a 500W Mivice mid-drive motor that is paired with a 680Wh battery, providing up to 60 miles of travel when its five PAS levels are active (supported by a torque sensor) at top speeds of up to 28 MPH (depending on your local laws). It weighs in at just under 72 pounds, with a 400-pound payload, and also comes with a throttle for electric-only riding, though the safety feature included here requires you to first pedal it into motion first.

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Designed as a budget-friendly solution, Heybike’s ALPHA e-bike comes with an array of solid stock features without increasing costs, like the hydraulic front suspension fork, hydraulic disc brakes, and 4-inch puncture-protected fat tires. Along with these, you’ll also find a Shimano Altus 8-speed derailleur, fenders over both tires, an integrated rear cargo rack, an LED headlight with an auto-on functionality, an integrated taillight with braking light functionality, and an LCD for settings and controls (including app-synced controls too).

Heybike’s other early Easter flash sale deals:

  • Mars 2.0 Folding Fat-Tire e-bike: $999 (Reg. $1,499)
    • 28 MPH for up to 45 miles
    • 1,000W motor (32 MPH speed) costs $100 more
    • comes with free front basket and large basket
  • Ranger S Folding Fat-Tire e-bike: $1,099 (Reg. $1,499)
    • 28 MPH for up to 55 miles
    • 1,000W motor (32 MPH speed) costs $200 more
    • comes with free front basket and large basket
  • Cityrun Urban Commuter e-bike: $1,099 (Reg. $1,599)
    • 21 MPH for up to 55 miles
    • comes with free front basket and large basket
  • Hauler Single-Battery Cargo e-bike: $1,399 (Reg. $1,499)
    • 28 MPH for up to 55 miles
    • dual battery setup (85-mile range) costs $300 more
    • comes with large rear basket
  • Tyson Uni-Body e-bike: $1,399 (Reg. $1,699)
    • 28 MPH for up to 55 miles
    • comes with free large basket
  • Horizon Full-Suspension e-bike: $1,499 (Reg. $1,999)
    • 28 MPH for up to 55 miles
    • comes with free front basket and large basket
  • Brawn Off-Road e-bike: $1,499 (Reg. $1,799)
    • 28 MPH for up to 65 miles
    • comes with free large basket
  • Hero Carbon-Fiber All-Terrain e-bike: $2,499 (Reg. $2,599)
    • 35 MPH for up to 60 miles
    • comes with free large basket
Hiboy S2 SE Electric Scooter

Hiboy’s Spring Sale returns latest S2 SE Electric Scooter to $300 low

Hiboy has a banner on its website saying that it will be increasing prices in the near future, which makes it a great time to take advantage of its Spring Sale pricing with up to 50% being taken off its lineup of e-scooters and e-bikes. One of its newest releases, the S2 SE Electric Scooter, is back in stock and down at $299.98 shipped right now. This model hit the market right at the top of 2025 carrying a $550 price tag, with the brand’s late winter and early spring discounts returning it to the same $300 low. That rate is returning here today, giving you an affordable means to zoom through commutes while saving $250 in the process.

Expanding upon the designs of the predecessor models in the S2 series, Hiboy’s S2 SE electric scooter brings the same reliability alongside budget-friendly, upgraded commuting power. It’s been given a Q235 steel frame with a 350W Hall brushless DC motor paired alongside a 36V 7.8Ah battery, providing you with up to 17 miles of travel on a full charge at up to 19 MPH top speeds. It’s motor also peaks up to 430W in order to tackle inclines with up to 15-degree slopes.

The tires have seen a major upgrade, with both coming 17% wider for better grip along the pavement, while the 10-inch solid front tire offers puncture resistance and the 10-inch pneumatic rear tire provides better shock absorption. The fender has also been widened by 26% to prevent water toss-ups, with the entire scooter having a 20% increase in its load-bearing capacity thanks to the steel frame design. Other features include a folding design, LED headlight/taillight, an e-brake/drum brake system that is pretty standard for scooters, and an integrated HD LED display.

More Hiboy S2 series e-scooter discounts:

Other Hiboy e-scooter discounts:

Hiboy e-bike discounts:

Hiboy’s spring bundle deals:

AeroGarden Harvest 2.0 Indoor Hydroponic System

AeroGarden relaunches and drops its Harvest 2.0 indoor hydroponic system to a new $35 low

For anyone who may have been sad to hear that AeroGarden planned to close its doors at the start of 2025 – the company is officially staying alive and relaunching now that spring is here, with Amazon currently offering a number of its hydroponic systems at discounted rates. Among them, you’ll find the popular AeroGarden Harvest 2.0 6-Pod Indoor Hydroponic System in multiple colorways starting from $34.99 shipped. No longer listed at its original $90 rate and more recently keeping between $65 and $70 at Amazon, we saw the brand cut prices back during Black Friday and Christmas, with those discounts going as low as $45 which continued through the first two months of the new year. As unexpected as the announcement that it would be staying open, the price is now getting brought down lower than ever with the 50% markdown off the new going rate, putting $35 back in your pocket.

No need to deal with soil or have outdoor space for gardening here, as this AeroGarden device allows you to grow six vegetables, herbs, or flowers up to 12 inches tall right inside your kitchen thanks to the water bowl design. It has a 15W grow light that can simulate the natural lighting of the sun with automatic on/off features, germinating ”up to 5x faster than in soil” – plus, it will even remind you when to add plant food. You’ll also be receiving a starter kit with essential items, including plant food and grow sponges. If you’d prefer a larger model, you’ll find its 9-pod counterpart down at $90 right now too.

More AeroGarden deals:

  • Sprout: $28 (Reg. $53)
    • 3-plant system
    • comes with pre-seeded pod kit
  • Harvest Elite: $57 (Reg. $80)
    • 6-plant system
    • comes with pre-seeded pod kit
  • Harvest Elite Slim: $130 (Reg. $150)
    • 6-plant system
    • comes with Gourmet Herb Seed Pod Kit
  • Bounty: $211 (Reg. $230)
    • 9-plant system
    • Wi-Fi and Alexa compatibility
    • comes with pre-seeded pod kit

Best New Year EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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Tesla’s top financial controller leaves (TSLA)

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2 hours ago

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April 9, 2025

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Tesla's top financial controller leaves (TSLA)

Tesla’s director of accounting controllership, Harsh Rungta, has left the automaker and joined eVTOL aircraft manufacturer Archer Aviation.

Rungta has been at Tesla for more than 6 years.

He came from PricewaterhouseCoopers LLP (PwC), Tesla’s independent registered public accounting firm, and became Tesla’s Director of Automotive Revenue & Energy Business Controller.

According to his responsibilities listed on his LinkedIn profile, he was in charge of all corporate accounting at Tesla:

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• Lead the corporate accounting function including technical accounting for complex areas like revenue, leases, debt financing etc. and SEC reporting e.g. 10K/10Qs and 8-Ks.
• Manage the full financial statements and monthly/quarterly financial close process
• Work closely with C-Suite and cross function teams on various strategic business initiatives including new product/revenue stream roll outs, new market launches, new manufacturing site commercialization
• Manage topline of the Company across all businesses (vehicles, energy storage, solar, subscription, AI, insurance, after sale services)
• Work with supply chain, factory and product leaders, IT organization on optimizing procurement to cost accounting.
• Heavily involved in financial planning, monthly, quarterly forecasting, and plan to actual analysis.
• Closely work with IR and legal on Shareholders Letter for Earnings call.
• Responsible for reports to Audit Committee for quarterly financial results and operational updates.
• Oversight of the financial statements of 80+ partnership structures involving outside investors fund accounting involving equity tax structures with outside investors and statutory filings for insurance business entities
• Spearheaded setting up of processes, systems and controls to operationalize new launches like insurance, captive financing, crypto investments and payment acceptance, software and SAAS products.
• Manage finance transformation team on process optimization.
• Oversee IT system implementations in partnership with IT organization and Internal Audit.
• Oversee SOX compliance program and manage external auditor relationship.

Last year, he was promoted to ‘director, accounting controllership’, which generally oversees and manages all financial and accounting operations of a company.

In 2023, Tesla’s Chief Financial Officer (CFO), Zachary Kirkhorn, left and was replaced by then Chief Accounting Officer, Vaibhav Taneja.

Tesla hasn’t announced a new Chief Accounting Officer since Taneja took over the CFO role, which should make Rungta Tesla’s top accounting controller.

In an update to his LinkedIn profile this week, Rungta confirmed that he left Tesla and he is now ‘SVP Finance & Chief Accounting Officer’ at Archer Aviation.

We recently reported that Tesla also lost one of its top designers to Archer.

Rungta, who was a big part of Tesla’s quarterly financial results, is leaving just two weeks before the automaker is expected to release its Q1 2025 financial results.

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Volkswagen is ‘shifting into the fast lane’ as EV sales climb 59%, double in Europe

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3 hours ago

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April 9, 2025

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Volkswagen is 'shifting into the fast lane' as EV sales climb 59%, double in Europe

Volkswagen-EV-sales-Europe

After its electric car sales surged in the first three months of 2025, Volkswagen’s CEO said the company is “shifting into the fast lane.” In Europe, Volkswagen expanded its lead after EV sales doubled. Despite the success, the auto giant is still struggling in one key market.

Volkswagen EV sales double in Europe in the first quarter

Volkswagen delivered 216,800 all-electric vehicles globally in the first quarter, up 59% from 136,400 last year. The growth bumped up Volkswagen’s global EV market share from 6% to 10%.

Strong growth in Europe and the US helped offset fewer deliveries in China. In Europe, Volkswagen delivered over 150,000 EVs through the first three months of 2025, more than double (+113%) the number it handed over in the year prior.

Volkswagen is the “clear BEV market leader in Europe” with around 26% of the market. In comparison, Tesla’s sales were down in every European market in Q1, except the UK.

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In Germany alone, almost every second EV came from a VW Group brand. With new models like the ID.7 Tourer and Audi Q6 e-tron, Volkswagen’s orders in Western Europe are back up around one million (980,000).

Volkswagen’s top five best-selling EVs globally were the ID.4 and ID.5 (43,700), ID.3 (28,100), Audi A4 e-tron (22,800), Škoda Enyaq (20,200), and ID.7 (19,100).

Volkswagen-EV-sales-Europe
Volkswagen ID.3 (left) and ID.4 (right)

Global BEV deliveries rise but slip in China

In the US, VW Group EV sales were up 51%. The VW ID.4 was one of the top-selling EVs in the first quarter, with 7,663 units sold. Its electric minibus, the ID.Buzz is now rolling out, with 1,901 units sold in Q1.

Volkswagen Group CEO Oliver Blume said, “Now we’re shifting into the fast lane” with new models arriving. The company expects “additional tailwinds” from new model launches in 2025.

Volkswagen-EV-sales-Europe
Volkswagen ID.4 (Source: Volkswagen)

Despite growth in Europe and the US, Volkswagen is still struggling to keep pace with BYD and others in China. Volkswagen blamed an “intense competitive situation in China” after EV deliveries fell 37% to 25,900, down from 41,000 last year.

After surpassing VW as the top-selling car brand in China last year, BYD’s impressive sales run is heating up in 2025.

Volkswagen-EV-sales-Europe
From left to right: Volkswagen ID.4, ID Buzz, ID.7 (Source: Volkswagen US Media Site)

BYD sold 166,109 electric cars last month alone. Through the first three months of 2025, the Chinese EV giant has sold 416,388 all-electric vehicles.

After cutting prices this month on some of its top-selling models, BYD’s cheapest EV, the Seagull, now starts at under $8,000 (56,800 yuan).

Volkswagen-ID.1-EV
Volkswagen ID.EVERY1 world premier (Source: VW)

With ambitious plans to expand overseas this year, can Volkswagen and other global OEMs keep pace? S&P Global Mobility forecasts that BYD’s sales in Europe will double in 2025 to around 186,000. By 2029, that number could reach 400,000 or more.

Volkswagen is banking on its new affordable EV lineup to help it fend off BYD and other EV leaders over the next few years. The first, VW’s ID.2, will launch next year starting at around 25,000 euros ($27,500), followed by an SUV version and an even cheaper ID.1 in 2027.

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