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Hyundai Motor UK has shared pricing and performance specs for both Premium and Ultimate trims of the upcoming IONIQ 6 streamliner. All versions of the IONIQ 6 currently coming to the UK feature the larger 77.4 kWh battery, providing the most range. However, as you’ll see below, the starting pricing of the IONIQ 6 is higher to start, compared to what a 53 kWh version may cost in the US.

The IONIQ 6 is an E-GMP-based EV we have been anticipating since its IONIQ 5 sibling arrived last year. The Korean automaker officially unveiled what it calls an electric streamliner this past summer, alongside details of the EVs trim levels, battery sizes, and powertrain configurations.

Even after our time exploring the Hyundai IONIQ 6 inside and out, we could only speculate as to what its starting pricing would entail, wagering somewhere in the mid- to high-40’s… at least in the US. Consumers in the UK and EU will receive Hyundai’s latest EV first, as pre-orders for a special “first-edition” already opened and sold out in under 24 hours.

Those lucky 2,500 initial customers should receive delivery this coming spring, but there is still plenty of IONIQ 6 to go around overseas. Today, Hyundai Motor UK shared pricing for the two higher end trims of the IONIQ 6 ahead of deliveries next year.

Hyundai IONIQ 6 pricing

Hyundai IONIQ 6 pricing starts at £46,745 in the UK

Hyundai UK shared the following pricing and performance specs in a press release today, as it pertains to both the Premium and Ultimate trims of the IONIQ 6. The Premium RWD version starts at £46,745 ($57,120) while the Ultimate RWD trim starts at £50,245 ($61,375).

Both versions include a 77.4 kWh battery pack capable of up to 379 miles of range as estimated by Hyundai (not official at this point). Hyundai offering the long range battery only to begin is a large reason for the higher IONIQ 6 pricing in the UK.

The automaker has already promised a smaller, 53 kWh battery pack RWD version in the US, which could make its way overseas as well, but not anytime soon. According to the Hyundai UK team, the larger battery will be only option available, unless demand says otherwise. So Hyundai’s focus will be the first-edition, Ultimate, and Premium versions of the IONIQ 6 in the UK, and pricing reflects that.

As for the US, we are still anticipating official pricing, confirmed specs (like range), and pre-order details sometime this spring, so stay tuned. At the very least, today’s news out of the UK gives us ballpark pricing of what the higher end trims of the IONIQ 6 could cost in the US.

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Wheel-E Podcast: ’70 MPH e-bikes’, Vietnam bans gasoline bikes, more

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Wheel-E Podcast: '70 MPH e-bikes', Vietnam bans gasoline bikes, more

This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes “70 MPH e-bikes” prompting new law changes, recalled Amazon/Walmart e-bikes, Vietnam banning gasoline-powered motorcycles, and more.

The Wheel-E podcast returns every two weeks on Electrek’s YouTube channel, Facebook, Linkedin, and Twitter.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends, the video will be archived on YouTube and the audio on all your favorite podcast apps:

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We also have a Patreon if you want to help us to avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the Wheel-E podcast today:

Here’s the live stream for today’s episode starting at 8:00 a.m. ET (or the video after 9:00 a.m. ET):

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Exxon earnings beat estimates as production growth softens impact of lower oil prices

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Exxon earnings beat estimates as production growth softens impact of lower oil prices

Exxon earnings beat estimates as production growth softens impact of lower oil prices

Exxon Mobil reported second-quarter earnings on Friday that declined significantly compared to last year, though the company beat Wall Street estimates as production growth in the Permian Basin and Guyana softened the impact of lower oil prices.

Exxon’s net income fell 23% to $7.1 billion, or $1.64 per share, compared to $9.2 billion, or $2.14 per share, in the same period last year.

Here is what Exxon reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

  • Earnings per share: $1.64 vs. $1.54 expected
  • Revenue: $81.5 billion vs. $80.77 billion expected

The oil major pumped 4.6 million barrels per day, the highest output for the second quarter since Exxon and Mobil merged more than 25 years ago. Production in the Permian hit a record 1.6 million bpd.

Exxon’s production business posted a profit of $5.4 billion, down 23% from about $7.1 billion in the same period last year on lower oil prices. Its refining business booked earnings of $1.37 billion globally, up 44% compared to $946 million in the year-ago period due to higher refining margins.

Exxon paid out $9.2 billion to shareholders, including more than $4 billion in dividends and $5 billion in share repurchases. The oil major said it’s on pace to purchase $20 billion of shares this year.

Exxon has slashed its costs by $1.4 billion so far this year and $13.5 billion since 2019. It is aiming to cut another $4.5 billion through the end of 2030.

This is a breaking news story. Please check back for updates.

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Chevron profit hit by low crude oil prices and loss from Hess acquisition

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Chevron profit hit by low crude oil prices and loss from Hess acquisition

Chevron profit hit by low crude oil prices and loss from Hess acquisition

Chevron on Friday reported second-quarter earnings that took a substantial hit due to low oil prices and a loss on its acquisition of Hess Corporation.

The oil major’s net income declined about 44% to $2.49 billion, or $1.45 per share, from $4.43 billion, or $2.43 per share, in the same period last year.

Chevron booked a $215 million loss on the fair value measurement of Hess shares. When adjusted for that charge and other one-time items, Chevron earned $1.77 per share to beat Wall Street estimates.

Here is what Chevron reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

  • Earnings per share: $1.77 adjusted vs. $1.70 expected
  • Revenue: $44.82 billion vs. $43.82 billion expected

Chevron completed its acquisition of Hess on July 18, after prevailing against Exxon Mobil in a long-running dispute that threatened to blow up the $53 billion deal. An arbitration court rejected Exxon’s claim to a right of first refusal over lucrative Hess assets in Guyana, clearing the way for Chevron to complete the transaction after a long delay.

Chevron expects the deal to begin adding to earnings in the fourth quarter. It also hopes to reduce annual run-rate costs by $1 billion by the end of 2025.

Chevron pumped a record 3.4 million barrels per day worldwide for the quarter, a 3% increase over the same period last year. U.S. production jumped about 8% to 1.69 million bpd compared to the year-ago period, with production in the Permian Basin hitting 1 million bpd. The Hess acquisition will add assets in the Bakken formation and Gulf of Mexico in addition to Guyana.

Chevron’s production business posted a profit of $2.72 billion, down 38% from $4.47 billion in the same period last year due to lower oil prices. Its refining business booked earnings of $737 million, up 23% from $597 million last year on higher margins for product sales.

Chevron paid out $5.5 billion to shareholders in the quarter, including $2.6 billion in share buybacks and $2.9 billion in dividends.

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