The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria.
Ramzi Boudina | Reuters
The United Arab Emirates does not intend to leave the influential OPEC oil alliance at this time, two senior officials with knowledge of the matter told CNBC, after a recent report signaled internal talks over such a departure.
The sources spoke on condition of anonymity as they are not allowed to publicly discuss the topic. The UAE oil ministry and Adnoc, the state-owned oil company of the United Arab Emirates, did not immediately respond to CNBC requests for comment.
On March 3, the Wall Street Journal reported that rising political disagreements between OPEC+ chair Saudi Arabia and the UAE have once more sparked questions over the latter’s future in the producers’ coalition.
Such a departure would remove the cooperation of the third-largest producer of the OPEC subgroup and hint at further disunity within the alliance after the recent exits of Ecuador and Qatar — at a time when oil prices remain trapped between limited global spare capacity and potential demand increases from a reopening China.
The Brent contract with May expiry was trading at $84.76 per barrel at 1 p.m. London time, down by $1.07 per barrel from the previous close price. The front-month Nymex WTI contract was at $78.72 per barrel, lower by 96 cents per barrel from the previous settlement price.
Abu Dhabi has historically been a staunch ally of Saudi Arabia in OPEC dynamics and, alongside Kuwait and Riyadh, shaped the informal Gulf trifecta that has occasionally stepped in to assist group policies with additional, voluntary production cuts. Beyond oil strategy, the close ties between Saudi Arabia and the UAE have started to show some strain, as the two countries have diverging aims in the conflict in Yemen and vie for foreign investment.
Oil divisions first emerged in the summer of 2021, a year into a spartan Saudi-led production strategy to drastically lower OPEC+ output in response to the Covid-19 demand shock for transport fuels. OPEC+ decisions require unanimous endorsement, and the UAE at the time exercised its veto to hold up a group meeting until it earned a concession that it — alongside Russia, Kuwait, Saudi Arabia and Iraq — should receive a higher production “baseline.” Baselines are the reference level that determine the starting point for a country’s pro-rata contribution to OPEC+ collective cuts or increases. The higher the baseline, the higher the level to which an OPEC+ member country may produce without violating its commitments.
Individual members’ bids to increase their OPEC+ quotas have largely died down in recent months, as underinvestment, sanctions, sabotage and infrastructural collapse saw the quotas of several countries surpass their production capacity. The UAE is one of a handful of OPEC+ members that has remaining spare capacity and is working to bolster it. Paris-based watchdog, the International Energy Agency, found that the Emirates’ most recently produced 3.23 million barrels per day in February, well below its country’s IEA-assessed sustainable capacity of 4.12 million barrels per day. Abu Dhabi is working to hike its spare capacity to 5 million barrels per day by 2027.
The tense discussions of 2021 sparked questions of potential pressure that the state-owned Abu Dhabi National Oil Company could be exercising on the oil ministry to reduce oil cuts that rein in national revenues. Three sources indicated to CNBC that there is currently no friction between Adnoc and the ministry over the UAE’s ongoing participation in OPEC+. The two organizations are fully aligned, one of the sources said.
Striking a balance between the profit priorities of national oil companies and the OPEC+ loyalties of oil ministries often epitomizes the challenge that OPEC+ member countries face to choose between short and long-term gains. The coordination between the two entities is seamless in some countries: Saudi Arabia’s state-controlled Aramco typically awaits the conclusion of OPEC+ meetings before releasing its official formula prices to customers at the start of the month.
Adnoc is in a cycle of growing and diversifying the reach of its business. The company is expected to float 5% of its Adnoc Gas business in a highly anticipated public offering and begin trading on March 13. Adnoc is also looking to open a full-fledged Geneva office for its trading subsidiary on an uncertain timeline.
The HappyRun G300 Pro is the epitome of an out-of-class electric bike. That is to say, it has many of the components of an electric bicycle, key among them the functional pedals, but its extremely high power and speed place it well outside the limits of traditional e-bike classifications. The result? Basically, an electric motorcycle with pedals. And I’ve got some thoughts about that.
But before I dive into those, this is one of those rides that you’ll want to see in action. Check out my review video below. Then keep reading for the full details.
HappyRun G300 Pro Video Review
HappyRun G300 Pro Tech Specs
Motor: 3,000W continuous and 6,500W peak-rated rear hub motor
Top speed: Up to 50 mph (80 km/h)
Range: Claimed up to 70 miles (121 km)
Battery: 72V 30Ah (2,160 Wh)
Weight: Heavy (well off the scale on my 100 lb scale)
Rear suspension: “Yopi Box” rear spring suspension
Extras: Looks like a Sur Ron or Talaria-style bike, color LED display, included fenders, LED headlight and tail light with turn signals, very nice kickstand, two color options available.
What is this even for?
Despite looking like a bicycle in some regards, I definitely felt wrong using this in the bike lane. That meant for 95% of my road riding, I was simply in the lane like a motorbike. The only times I would use the bike lane were when I could see it was completely empty, and it was basically just a shortcut past the stopped traffic at red lights. And even then, it just didn’t sit right with me. I’m an e-biker and I live a car free life, so the safety of bike lanes is an important issue for me. I’m not going to jeopardize other riders or even make them feel unsafe in the tiny little sliver of asphalt that is supposed to feel like home for us, and so I ride this thing in the road when I’m on the road.
That being said, I don’t even think the road is the right place for this bike. Where it really shines is off-road. Between the long travel suspension, the enduro-style seat, and the unnecessarily high power for commuting purposes, the HappyRun G300 Pro is at home in the dirt and on the trails. In fact, I even enjoyed overlanding on it, going places where trails couldn’t take me. It felt like a great exploring-the-outdoors type of ride!
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If you watch my video above, you’ll see that this type of riding, recreational and exploring, is where the HappyRun G300 Pro really came into its own, and I think that’s precisely where it belongs. Just like how Sur Rons and Talarias shouldn’t really be taking over the streets, but instead should stick to the dirt trails they excel at, this is a great bike for that purpose. You’ll also notice in the video that I prefer to wear my motorcycle gear when I ride these types of bikes, and I’d make that recommendation to anyone else. A t-shirt and a bike helmet just don’t feel like enough here.
With that in mind, the included bicycle pedals start to seem superfluous though, and I really only pedaled at slow speeds, or when ghost pedaling because a cop was in the area and I didn’t want to get a bike impounded before I was even done reviewing it. So if you ask me, it doesn’t really need the pedals, and it doesn’t even really need the roads.
What about the build?
The HappyRun G300 Pro is an interesting mix of quality parts and merely acceptable parts. Nothing about it seemed terrible or dangerous, and a few components like the Sur Ron kickstand actually impressed me. But then the use of a bicycle-level handlebar stem and budget-level shocks seems to undercut that message.
On the other hand, the massive 72V 30Ah battery is huge and likely more than most people would need. I’d have preferred to see it being UL-listed, but I guess at least it claims to be underwritten by some Chinese insurance agency. I guess that’s better than nothing?
The geometry actually kind of sticks the landing, at least for me and my 170 cm (5’7″) height. The saddle is plenty comfortable, though my off-roading had me out of the saddle much of the time anyway and letting my legs join the full-suspension to better absorb the terrain.
What’s my verdict?
Here’s the thing: nothing about this bike is top shelf, but it still offers an incredibly fun, solid feeling ride. The power is more than most people need, the speed is faster than most people should ride (especially on trails), and the battery has more capacity than most people would require. So it’s not like they’re cutting corners on performance.
Some components could have been beefed up, and the decision to lean more towards bicycle-level components does make me question what a few years of hard off-road riding could do to this bike. But when used correctly, in an area where the bike is meant to be used (i.e., not where it legally isn’t allowed to be ridden), then it seems to fulfill the role of a fun adventure-style bike. At a price of $2,599 (or $100 off with the code ELECTREK), it significantly undercuts the cost of a Sur Ron or Talaria bike while giving a similar type of ride, even if the components don’t live up to the level of those costlier light electric dirt bikes.
My biggest worry, though, isn’t about the bike, but rather the potential for it to be misused. Look, it’s a fun ride and offered me more performance than I needed for all the different types of riding I tested it with. But like any bike, it has to be used in its element. We don’t blame the hammer if someone hits their thumb while driving a nail, and we shouldn’t blame the bike if someone wraps it around a parking meter. But it also really shouldn’t be used in that kind of environment, and it definitely shouldn’t be used in a way that could put others at risk.
It’s a fun ride for exploring, but this level of power requires some serious personal responsibility. If you’re a parent wondering if you should get this for your 16-year-old, the answer is probably “No.” But if you’ve got a fully developed prefrontal cortex and you want a fast and powerful ride without breaking the bank, this might be a decent option.
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Toyota is finally getting into the game in the world’s largest EV market. On Friday, Toyota officially broke ground on the new Lexus EV plant in Shanghai, its first fully owned manufacturing facility in China and the second in the region, following Tesla.
Toyota is building a new Lexus EV plant in China
After officially announcing it would open a wholly-owned EV plant in China to build new energy vehicles (NEVs) for its luxury Lexus brand in February, Toyota is already kicking off construction.
Toyota finalized a deal with the Shanghai government on April 22 to build the facility. Just over two months later, the company is making swift progress in what’s being called “Lexus speed” locally.
The facility, which spans roughly 1.13 million square meters, could be one of Toyota’s most important to date. Following Tesla, which broke ground on its Shanghai Gigafactory in early 2019, Toyota is the second foreign automaker to construct a wholly owned auto plant in Shanghai.
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Construction is expected to be completed in August 2026, with production set to commence in 2027. According to local news outlet The Paper, the facility will be capable of producing up to 100,000 NEVs annually.
Lexus ES electric sedan prototype (Source: Toyota)
Although Toyota will use the new standalone Lexus plant to accelerate EV output, it will also be used to develop vehicles tailored to local buyers.
Since the plant is overseas in Shanghai Bay Area Hi-Tech Zone, Toyota established a “two-line collaboration,” which will enable “24-hour uninterrupted work.”
Toyota bZ3X electric SUV (Source: Toyota)
The first Lexus electric vehicle is scheduled to roll off the assembly line in 2027. Much like for Tesla, local authorities are providing generous support.
For example, the Jinshan District Investment Promotion Office introduced an “order-based” business agreement, addressing Toyota’s “demand list” in advance.
Electrek’s Take
Toyota will use the new Lexus plant as it looks to keep pace with BYD and other domestic EV leaders in China. After launching several new vehicles over the past few months, the Japanese automaker is already starting to gain some traction.
After launching the bZ3X in March, Toyota’s electric SUV was the best-selling foreign EV in China in April, its second month on the market.
Toyota’s electric SUV already outsold the Volkswagen ID.3, ID.4 Crozz, and BMW i3. The bZ3X is Toyota’s most affordable EV, launched in China with a starting price tag of just 109,800 yuan, or about $15,000.
Earlier this month, Toyota launched another electric SUV, the bZ5. The bZ5 is about the size of Tesla’s Model Y, but costs about half as much in China, starting at 129,800 yuan ($18,000).
These electric SUVs are significantly more advanced and feature-rich than the Toyota vehicles we’re accustomed to seeing. They feature advanced smart driving tech, massive touchscreens, and some added bonuses like a built-in refrigerator.
During its EV Tech Day event earlier this month, Toyota’s joint venture, GAC Toyota, announced partnerships with several “car industry bigwigs,” including Huawei, Xiaomi, and Momenta.
Can Toyota keep pace in China with an intensifying EV price war and influx of new low-cost domestic rivals? So far, the new vehicles are helping.
In April, Toyota’s sales in China increased by 20% compared to the same period last year, with 142,754 vehicles sold. Through May, Toyota’s sales are up 7.7% with 530,000 vehicles sold.
Tesla has hired Henry Kuang, the former ‘Head of Autonomy’ at GM’s failed self-driving startup, Cruise.
The automaker has had difficulties with turnover in its Autopilot and self-driving division.
Tesla has lost many leaders over the years and the departures have ramped up as of late. Here’s a list of Tesla leaders related to Autopilot and self-driving efforts who have left the company:
Name
Role
Departure
Sterling Anderson
Head of Autopilot
Jan 2016
Chris Lattner
VP, Autopilot Software
Jun 2017
Jim Keller
VP, Autopilot Hardware
Apr 2018
Andrej Karpathy
Dir. AI & Autopilot Vision
Jul 2022
Zheng Gao
Dir. Autopilot Hardware
Dec 2024
Marc Van Impe
Global Vehicle Automation & Safety Policy
–2024
Drew Baglino
SVP Powertrain & Energy Engineering
Apr 15, 2024
David Lau
VP, Software Engineering
Early Apr 2025
Milan Kovac
VP, Optimus Engineering (ex-Autopilot engineer)
Jun 6, 2025
Omead Afshar
Senior Executive (AI/Robotics/Roadmap)
Late Jun 2025
Meanwhile, there haven’t been many high-profile hires as Tesla prefers to hire younger, more junior engineers and promote within.
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Amidst brand damage in recent years, Tesla has also faced more difficulties securing top hires. A recent leaked recording from a Tesla training session confirmed that the automaker has had a culture problem within its workforce.
However, Electrek has found a rare new executive-level hire in Tesla’s self-driving division.
According to his LinkedIn profile, Henry Kuang has been hired by Tesla as “Director of AI and Deep Learning for Autonomous Driving.”
Kuang was a long-time Facebook engineer who joined Cruise in 2020 to lead the perception team and later became Senior Director in charge of Autonomy:
Cruise was founded in 2013 to develop self-driving technology. It was acquired by GM in 2016. It operated its own self-driving fleet independently of GM, but it also contributed to the development of the automaker’s ADAS system.
A series of accidents and failures in 2023 led the company to withdraw its fleet of over 100 self-driving vehicles from the road.
They have tried to bring back their autonomous ride-hailing service in California, but GM announced that it would stop funding the company in December and commenced a restructuring to entirely discontinue autonomous fleet operations and fold some of Cruise into GM’s ADAS operations for consumer vehicles.
Kuang has reportedly exited Cruise in 2024 and now joined Tesla last month, according to an update on his LInkedIn profile.
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