It’s been a tough start to 2023 for shareholders of Linde (LIN). The industrial gas giant was a relative winner in 2022 with its stock declining roughly 5% compared to the S & P 500 ‘s drop of around 19.4%. But the new year has not been so kind with three straight down sessions, including nasty pullbacks Tuesday and Thursday. For such a high-quality company with a track record for delivering consistent, double-digit earnings growth, this is not the stock price performance we have come to know for Linde. Let’s take a look at some of the recent news that’s negatively impacting the company to figure out if this pullback is a buying opportunity. Russia freezing Linde assets First off, while U.S. markets were closed to observe the New Year holiday, Reuters reported Monday that a Russian court froze about $488 million of Linde assets. The legal action was at the request of a Russian joint venture that Linde stopped working on. The halt in the business relationship was done to comply with European Union sanctions after Russia invaded Ukraine. Long story short, Linde was prepaid $1.8 billion for work on a project, and Russian energy giant Gazprom is suing Linde to get that money back. It’s all pretty technical, but here’s what an analyst at BMO Capital Markets said about the news: “High level, we view this as a negotiation tactic tied to LIN’s suspension of the project and the eventual settlement of accounts. As a reminder, LIN holds ~$1.8B of cash/payments from Gazprom and its partners for the Ust-Luga gas complex (LIN lists this as a liability on its bal sheet). With LIN having stopped work on the project, it will be expected to return the $1.8B of proceeds minus the hours worked and the value of the equipment (both currently being negotiated). The freezing of the assets and valuing them at $488mm is simply part of that ‘negotiation.'” We’re not in the business of trying to predict the legal outcome or how negotiations will go, but what you do need to know is that Linde lost about $3.9 billion of market value Tuesday, as traders in the U.S. got their first chance to react to the news. That’s far beyond the value of what Linde was paid to complete this project. Therefore, we see the recent pullback as an overreaction. The next question is does any of this matter to future earnings? The answer here is no. Shortly after Russia invaded Ukraine, Linde suspended business in Russia and announced plans to scale back operations. This means Russia has zero impact to forward earnings per share; it was excluded from Linde’s full-year 2022 guide and should not be factored into any analyst estimates for 2023 earnings. Again, we think the news was an overreaction. Upcoming Frankfurt delisting vote There is a second factor likely contributing to some of Linde’s declines over the past few days and it is harder to quantify. It relates to management’s proposal to delist from the Frankfurt Stock Exchange. Linde is currently listed on two different stock exchanges: the New York Stock Exchange in the United States and Germany’s Frankfurt Stock Exchange. Through extensive analysis, management concluded that a single stock listing in the U.S. could expand Linde’s valuation , which would benefit current shareholders. The voting on this proposal ends on Jan. 17 and should be known the day after at a shareholders’ meeting. If Linde shareholders approve the German delisting — and we think they will — some of the European investors and index managers who own the stock will be forced to sell because of restrictions. For example, some managers may be limited to only owning European listed stocks or track the German blue-chip DAX index. If Linde only trades on a US line, they can no longer hold it. While this forced selling could stretch out, what we think is happening Thursday, in the absence of any fundamental news, is that European investors trying to get ahead of the results of the vote. Declines in Linde’s industrial gas peer Air Products and Chemicals (APD) are relatively in line with the broader market selloff of more than 1% on the major benchmarks. Linde slide Thursday was more than 3%. Bottom line So, what are we doing with the stock? When we wrote our delist story in November, we said if there is a pullback related to so-called forced selling closer to the key dates, we would treat those declines opportunistically and look to buy. Linde is the type of company that can continue to perform well in a slowdown because of the resilience of its gas-selling markets, its pricing power, and productivity initiatives. Linde also has a huge opportunity to support the advancement of clean energy initiatives promoted through the U.S. government’s Inflation Reduction Act. And as we mentioned above, the Russia legal issues won’t have a material impact on Linde’s overall business. With some of the selling beginning to flush out but no changes to our positive long-term fundamental view, we are getting closer to upgrading our rating and potentially adding to our position. Linde is scheduled to report its fiscal fourth-quarter earnings on Feb. 7. While that may feel like a lifetime from now, at some point the fundamentals will matter again and all this technical pressure will take a back seat. We’re looking at a price at or below $300 to upgrade Linde back to a 1 rating as we have found that the company typically likes to ramp up its buyback program at those levels. We should note that Linde’s buyback is temporarily on pause until the upcoming shareholders’ meeting. It can resume repurchases afterward but under a predetermined plan until earnings. In our system, a 1 rating means we view the stock as a buy. Linde is currently a 2 rating, which means we’re waiting for a pullback to consider buying. (Jim Cramer’s Charitable Trust is long LIN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
A liquid hydrogen tanker truck taking a fuel delivery at the Linde hydrogen plant in Leuna, Germany, on Tuesday, July 14, 2020.
Rolf Schulten | Bloomberg | Getty Images
It’s been a tough start to 2023 for shareholders of Linde (LIN).
On today’s hyped up hydrogen episode of Quick Charge, we look at some of the fuel’s recent failures and billion dollar bungles as the fuel cell crowd continues to lose the credibility race against a rapidly evolving battery electric market.
We’re taking a look at some of the recent hydrogen failures of 2025 – including nine-figure product cancellations in the US and Korea, a series of simultaneous bus failures in Poland, and European executives, experts, and economists calling for EU governments to ditch hydrogen and focus on the deployment of a more widespread electric trucking infrastructure.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
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Believe it or not, you can lease an EV for under $200 a month. New deals on models like the 2025 Hyundai IONIQ 5 and Kia EV6 are hard to pass up this month.
Electric vehicles have been all over the news lately, with the Trump administration threatening to end federal incentives and introducing new tariffs that are expected to lead to higher prices.
On the positive side, new EV models are arriving, giving buyers more options and driving prices down. Many automakers reported record US electric car sales in the first three months of 2024.
GM remained the number two seller of EVs behind Tesla after sales doubled in Q1 2025. With the new Equinox, Blazer, and Silverado EVs rolling out, Chevy is now the fastest-growing EV brand in the US. Ford’s Mustang Mach-E is off to its best sales start since launching, with over 11,600 models sold in the first quarter.
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With the 2025 models rolling out and about 15 new EVs arriving this year, many automakers are introducing steep discounts to move vehicles off the lot.
2025 Hyundai IONIQ 5 Limited (Source: Hyundai)
EVs for lease for under $200 a month in April
Although the decade-old Nissan LEAF remains one of the most affordable this April at just $149 per month, there are a few EVs under $200 right now that are worth taking a look at.
The new 2025 Hyundai IONIQ might be the best EV deal this month, with leases as low as $199. Hyundai is currently promoting a 24-month lease deal with $3,999 due at signing.
Hyundai’s new 2025 IONIQ 5 Limited with a Tesla NACS port (Source: Hyundai)
Hyundai upgraded the electric SUV with a bigger battery for more range (now up to 318 miles), a sleek new look inside and out, and it now comes with an NACS port so you can charge it at Tesla Superchargers.
The offer is for the IONIQ 5 SE RWD Standard Range, which has a driving range of up to 245 miles. For just $229 a month, you can snag the SE RWD model, which has a range of up to 318 miles and a more powerful (225 horsepower) electric motor. It’s also a 24-month lease with $3,999 due at signing.
To sweeten the deal, Hyundai is offering a free ChargePoint Home Flex Level 2 EV charger with the purchase or lease of any 2024 or 2025 IONIQ 5. If you already have one, you can opt for a $400 public charging credit.
After slashing lease prices this month, the 2025 Nissan Ariya is actually cheaper than the LEAF in some regions. In Southern California, the 2025 Nissan Ariya Evolve AWD is listed at just $129 per month. The AWD model has a range of up to 272 miles.
The deal is for 36 months, with $4,409 due at signing. In April, Nissan cut Ariya lease prices to around $239 in most other parts of the country.
Kia has a few EVs available to lease for under $200 a month in April. The 2025 Kia Niro EV Wind is listed at just $129 for 24 months, with $3,999 due at signing. Kia’s crossover SUV has EPA-estimated range of 253 miles.
2024 Kia EV6 (Source: Kia)
The 2024 EV6 may be worth considering at just $179 for 24 months ($3,999 due at signing). In California, the EV6 Light Long Range RWD is only slightly more than the Niro Wind.
In most other parts of the country, you can still find the EV6 for under $200 a month. The Light Long Range RWD trim offers up to 310 miles of EPA-estimated range.
Lease Price
Term (months)
Amount Due at Signing
Driving Range
2025 Hyundai IONIQ 5 SE RWD Standard Range
$199
24
$3,999
245 miles
2024 Kia EV6 Light Long Rang RWD
$179
24
$3,999
310 miles
2024 Kia Niro EV Wind
$129
24
$3,999
253 miles
2025 Nissan Ariya Evolve AWD
$129
36
$4,409
272 miles
2025 Nissan LEAF S FWD
$149
36
$2,629
149 miles
2024 Fiat 500 INSPI(RED)
$199
24
$2,999
149 miles
EVs for lease for under $200 a month in April 2025
And don’t forget the 2024 Fiat 500e, which is now listed at just $199 for 24 months with $2,999 due at signing. The electric hatchback offers a range of up to 149 miles.
Ready to snag the savings while they are still here? At under $200 a month, some of these EV lease deals are hard to pass up right now. Check out our links below to find deals in your area.
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Project Nexus, the first solar panel canopies over irrigation canals in the US, is now online in California, and there are plans to expand the project to other areas.
Project Nexus is a $20 million pilot in central California’s Turlock Irrigation District launched in October 2022. The project team is exploring solar over canal design, deployment, and co-benefits using canal infrastructure and the electrical grid.
India already has solar panels over canals, but Project Nexus is the first of its kind in the US.
The Turlock Irrigation District was the first irrigation district formed in California in 1887. It provides irrigation water to 4,700 growers who farm around 150,000 acres in the San Joaquin Valley.
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Project Nexus will explore whether the solar panels reduce water evaporation as a result of midday shade and wind mitigation, create improvements to water quality through reduced vegetative growth, reduce canal maintenance as a result of reduced vegetative growth, and, of course, generate renewable electricity.
The California Department of Water Resources, utility company Turlock Irrigation District, Marin County, California-based water and energy project developer Solar AquaGrid, and The University of California, Merced, are partnering on the pilot. Project Nexus originated from a 2021 research project led by UC Merced alumna and project scientist Brandi McKuin.
Solar panels were installed at two sites over both wide- and narrow-span sections of Turlock Irrigation District canals in Stanislaus County, in various orientations. The sections range from 20 feet wide to 100 feet wide. University of California, Merced has positioned research equipment at both sites to collect baseline data so the researchers can decide where solar will work and where it won’t.
In February 2023, Project Nexus announced it would also deploy long-term iron flow battery storage in the form of two ESS 75kW turnkey “Energy Warehouse” batteries.
If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
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