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The headquarters of the European Central Bank (ECB) pictured on February 03, 2022 in Frankfurt, Germany.

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Germany’s energy worries are over and Europe’s largest economy has the “inherent strength” to recover from the dual shocks of the pandemic and the war in Ukraine, according to Bundesbank President Joachim Nagel.

The International Monetary Fund on Tuesday projected the German GDP will contract by 0.1% in 2023, becoming the second worst performer among major economies behind the U.K., before expanding by 1.1% in 2024.

Central to concerns about the economic outlook for Germany and the wider continent over the past year has been the potential for an energy crisis, as Europe strives to curb its reliance on Russian gas following Moscow’s full-scale invasion of Ukraine.

German output decreased by 0.4% in the fourth quarter and is expected to contract again in the first quarter of 2023, entering a technical recession.

Nagel told CNBC on the sidelines of the IMF Spring Meetings that he is “more positive than the IMF” and does not see a recession this year.

“The German economy proved a lot over the past couple of weeks and months, so the adaptation capacity of the German industry is pretty high, the energy crisis is more or less solved. So we had a really worried situation in the past, but this is now over, and the outlook is good,” he told CNBC’s Joumanna Bercetche.

German central bank president says Europe's energy crisis is over, 'really positive' on the outlook

He asserted that Germany’s progress in diversifying its liquefied natural gas supply away from Russia, and its increased storage — resulting from built up capacity during the mild winter — meant the country’s economy is well placed to weather the next cold season as well.

The latest available purchasing managers’ index readings showed German manufacturing, which accounts for around a fifth of the country’s economy, experienced its sharpest fall in activity for almost three years in March and hit its lowest level since May 2020.

However, Nagel claimed that this was down to lingering effects of the Covid-19 pandemic and Russia’s war in Ukraine, insisting that “we shouldn’t forget where we came from.”

“The German industry has a good capability to deal with the situation, there is this inherent strength of the German economy, and I believe they will overcome this, and they will go back to the levels we saw before the pandemic,” he said.

Sticky core inflation

The European Central Bank hiked interest rates by another 50 basis points in March to bring its main rate to 3%, as the continent continues to grapple with high inflation.

Headline inflation across the euro zone fell to 6.9% in March from 8.5% in February, driven by cooling energy costs. But core inflation — which strips away volatile food, energy, alcohol and tobacco prices — increased to an all-time high of 5.7%.

Nagel said the persistence of high core inflation showed the ECB Governing Council, in which he is considered one of the more hawkish members, has further to go in tightening monetary policy.

He expects core inflation to eventually follow the headline figure downwards, but reiterated that policymakers have to “stay really alerted when it comes to the inflation story.”

“What is also important to me, we went through some financial market turbulence uncertainty over the last five weeks and now we have to find out what was the impact out of that, and we have to wait for the incoming data until we have our next meeting in May, and then we will see,” he said.

German banking ‘very robust’

Financial markets were roiled in March by concerns about the banking sector. The collapse of U.S.-based Silicon Valley Bank early last month triggered contagion fears that eventually took down several U.S. regional lenders and led to the emergency rescue of Credit Suisse by fellow Swiss giant UBS.

The ECB went ahead with a 50 basis point hike to interest rates despite concerns about the economic impact of the banking turmoil, and Nagel hopes this sent an important message to markets.

“There is no contradiction between what we have to do on the price stability side and on the financial stability side,” he said.

“We have different instruments to tackle the price issues and the financial stability issues, so it was an important message to the financial market participants that we are very committed when it comes to fighting against inflation.”

Signs that bank lending is decreasing amid rate hikes, ECB policymaker says

Deutsche Bank shares sold off sharply over a few days in March after a sudden spike in the cost of insuring against its default. Analysts largely attributed this to misplaced market panic, but also to concerns about the German lender’s well-documented exposure to commercial real estate, which is considered a particularly weak link in the U.S. economy.

Nagel insisted the German banking system is safe and sound.

“I think we have to be vigilant when it comes for example to the commercial banking sector, but let me take this opportunity to say something about the German banking sector — I think the German banking sector is very robust,” he said.

“I think, compared to 15 years ago, they are much better capitalized, better liquidity situation, so I do not have doubts.”

Although he reaffirmed the ECB’s commitment to fighting inflation, Nagel acknowledged that policymakers “have to be cautious” and keep an eye on parts of the economy that may be affected if rates continue to rise.

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ENGWE Engine Pro 2.0 e-bike at exclusive new $750 low, Anker eufy S220 solar cam $65, Linkind smart solar spotlights from $23, more

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July 31, 2025

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ENGWE Engine Pro 2.0 e-bike at exclusive new 0 low, Anker eufy S220 solar cam , Linkind smart solar spotlights from , more

Leading today’s pack of Green Deals is an exclusive 50% discount for our readers on the ENGWE Engine Pro 2.0 Folding e-bike at a new $749.50 low. Right behind it we have Anker’s eufy SoloCam S220 Solar Security Camera starting at $65, with some multi-pack discounts also available, as well as multi-packs of Linkind’s Smart Solar Spotlights starting from $23. From there we have a 3-in-1 tool bundle with replacement parts from Worx, a 60V 610 CFM cordless leaf blower from Greenworks, and more waiting for you below. Plus, all the hangover savings at the bottom of the page, like yesterday’s ECOVACS Goat RTK robot lawn mower low price, Rad Power’s RadWagon 4 cargo e-bike discount, 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.

Commute up to 68 miles with exclusive 50% savings on ENGWE’s Engine Pro 2.0 folding e-bike at a new $749.50 low

We’ve secured an exclusive and budget-friendly deal from Wellbots for our readers on the ENGWE Engine PRO 2.0 Folding e-bike at $749.50 shipped, after using the exclusive promo code 9TO5ENGWE50 at checkout for 50% off. This model would normally run you $1,499 here, which we’ve seen discounted as low as $1,149 from the brand over the last year. That price is getting strong-armed out of the way with this exclusive deal that gives you a 50% markdown, putting nearly $750 back into your pocket at the best new price we have tracked.

A great alternative option for riders who want a reliable means to get through their commutes without shelling out $1,000 or more on other brands, the ENGWE Engine Pro 2.0 e-bike is a folding model that saves on space while also providing some significant travel support. The 750W rear hub motor peaks at 1,200W and comes paired with a removable 16Ah battery for up to 68 miles of pedal-assisted travel (five levels supported by a torque sensor) at up to 20 to 28 MPH top speeds, depending on what your local laws allow. Of course, you’ll have the option for pure electric travel via the throttle, though keep in mind this reduces the mileage to around 30 miles on one full charge.

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For the low price you’re getting on ENGWE’s Engine Pro 2.0, you’ll be scoring some solid features, including hydraulic disc brakes for greater stopping power, puncture-resistant all-terrain fat tires so you don’t have to fear what you may ride over, and an 8-speed Shimano derailleur for versatile pedaling options. That’s not all, as you’ll also be getting a rear cargo rack, a full suspension system, and a smart LCD screen for performance data and setting adjustments – plus, the whole thing weighs in at 70 pounds, so it’s manageable regardless of your rural/suburban/urban environment.

rain falling onto Anker eufy SoloCam S220 solar security camera

Upgrade your home security with Anker’s solar-powered eufy SoloCam S220 camera at $65

Anker is offering its eufy SoloCam S220 Solar Security Camera at $64.99 shipped, after using the on-page promo code at checkout for $35 off the price, which is beating out Amazon’s pricing by $5. Coming down off its $100 full price tag while the savings last, this model has been regularly seen dropping to $70 and more recently going lower to $65 over the last handful of months, only beaten out by the $62 low we first saw appearing during Prime Day at the top of the month. You’re looking at 35% markdown while the savings last, giving you the second-best price we have tracked if you missed out on the one-time Prime Day low. You’ll also find the camera’s multi-pack options starting from $129.99 shipped here.

If you want to learn more about this solar-powered security device, be sure to check out our original coverage of this deal here.

Daytime and Nighttime differences with Linkind's smart solar spotlights lining walkway

Save up to 34% on multi-packs of Linkind’s Smart Solar Spotlights starting from $23

By way of its official Amazon storefront, Linkind is offering its Smart Solar Spotlights starting at $22.99 shipped for a 2-pack. The price is coming down from its $35 tag, with them having spent a significant portion of recent months at $24, with some falls to $23 (including during Prime Day) and one earlier drop to the $21 low back in April. You’re looking at a 34% markdown here that cuts $12 off the tag for the second-best price we have tracked, landing just $2 above the all-time low. You’ll also find its larger bundles benefitting from discounts, with the 4-pack down at its second-best price of $48.99 shipped, after clipping the on-page 30% off coupon, while its 8-pack is down at a $90.98 low.

If you want to learn more about this outdoor lighting device, be sure to check out our original coverage of this deal here.

man trimming around tree trunk with Worx GT revolution 3-in-1 string trimmer/edger/mini-mower

Pick up the Worx GT Revolution 20V 12-inch string trimmer/edger/mini-mower with spare parts at $83 (2025 low)

Amazon is offering the Worx GT Revolution 20V 12-inch String Trimmer/Edger/Mini-Mower kit that comes with a 2.0Ah battery, 2A charger, three replacement spools, a spool holder, and replacement edger wheels for $82.99 shipped. The combination of the tool and battery alone goes for $130 at full price directly from the brand’s website, where it’s currently priced, but we’ve been seeing this larger bundle package keep down to $100 for much of the time since late March. While we have seen it drop lower in the past, the additional $17 savings from its recent going rate is the best price we have tracked over the last 12 months, even beating out its Prime Day pricing by $2.

If you want to learn more about this 3-in-1 tool, be sure to check out our original coverage of the deal here.

man clearing large pile of leaves in yard with greenworks 60V 610 CFM cordless leaf blower

Clear out your yard with up to 610 CFM air flow through this 60V Greenworks cordless leaf blower at $142

Amazon is offering the Greenworks 60V 610 CFM Cordless Leaf Blower at $142.49 shipped. Normally fetching $200 directly from the brand’s website, where this model is priced $8 higher, we’ve been seeing it keep to $180 in full at Amazon since March, with discounts dropping costs lower between $160 and $140 on average. The lowest we’ve seen this model fall was to a $135 rate on the last of Prime Day’s 4-day event, with the deal today matching the event’s first three days of pricing. You’re looking at the third-lowest price we have tracked, saving you $58 off the MSRP and landing just $7 above the all-time low.

If you want to learn more about this 60V blower, be sure to check out our original coverage of this deal here.

Best Summer 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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BYD cuts Yuan Up EV prices to just $10,500 with a new ‘Pilot’ model

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July 31, 2025

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BYD cuts Yuan Up EV prices to just ,500 with a new 'Pilot' model

BYD-Yuan-Up-prices

To celebrate 1.5 million in sales, BYD launched a new Yuan Up “Pilot” EV edition on Thursday with prices now starting at under $10,500.

BYD launches new Yuan Up Pilot with lower prices

The new base model is priced at 74,800 yuan ($11,500), which is about 25% cheaper than the current Yuan Up lineup. Previously, Yuan Up prices ranged from 99,800 yuan ($14,000) to 119,800 yuan ($16,700).

Powered by a 32 kWh BYD Blade battery pack, the new Yuan Up Pilot edition has a CLTC driving range of up to 301 km (187 miles). The other three trims have a range of 401 km (249 miles) from a 45.12 kWh battery.

Given the lower prices, BYD had to cut back somewhere. And it’s not just in range. The lower-priced Yuan Up does not include BYD’s “God’s Eye” smart driving system.

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Earlier this year, BYD upgraded most of its vehicles with the smart driving tech at no extra charge. The other three trims include the “C” version, or the lowest level of autonomy.

BYD-Yuan-Up-prices
BYD launches new lower-priced Yuan Up Pilot edition (Source: BYD)

More expensive vehicles, like those in the BYD Denza and Yangwang series, are equipped with more advanced “A” and “B” systems.

Inside, the cabin appears similar to other models, featuring a 10.1″ floating central infotainment screen and an 8.8″ driver display screen. It still features BYD’s DiLink 50 smart cockpit system, which includes voice control and connectivity support.

BYD-Yuan-Up-interior
BYD Yuan Up EV interior (Source: BYD)

Measuring 4,310 mm in length, 1,830 mm in width, and 1,675 mm in height, the Pilot edition is the same size as other BYD Yuan Up models. That’s about the size of a Hyundai Kona.

BYD-Yuan-Up-prices
BYD launches new lower-priced Yuan Up Pilot edition (Source: BYD)

According to data from CnEVPost, sales of BYD’s Yuan series fell 21% in May (31,711 units) and 29% in June (25,727 units) compared to the same period last year.

Given BYD’s aggressive push for smart tech, the new base Yuan Up could hint that a change in the Chinese automaker’s playbook is in the works. In overseas markets, the Yuan Up is sold as the Atto 2.

Last week, BYD launched its “high-energy super SUV,” the Sealion 06 EV, priced from 139,800 yuan ($21,000).

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Tesla’s new Model Y Performance spotted testing

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2 hours ago

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July 31, 2025

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Tesla's new Model Y Performance spotted testing

Tesla Model Y Performance Juniper prototype hero

A Tesla Model Y Performance prototype was spotted testing in California ahead of its launch in the US, which is expected soon.

Tesla launched the refreshed Model Y, often referred to as ‘Juniper’, in January 2025.

However, as it often does with design refreshes, Tesla didn’t launch the performance version of the best-selling electric SUV with the broader refresh.

The automaker stopped taking orders for Model Y Performance, but we have been expecting the variant to make a comeback under the Juniper design by the end of the year.

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While cycling near Tesla’s Palo Alto engineering headquarters, an Electrek reader spotted a Tesla Model Y prototype in camouflage, which we quickly identified as a Model Y Performance with the Juniper design refresh:

What makes us think this is a Model Y Performance? The wheels look like Plaid 20″ wheels, which are generally reserved for performance versions.

If we zoom in, we can also see that the Model Y appears to feature bigger red brake calipers – another feature that Tesla only offers on performance versions of its vehicles.

Before the refresh, the Model Y Performance achieved an EPA-estimated range of 277–285 miles (446-459 km), depending on the wheel configuration.

It accelerated from 0 to 60 mph in 3.5 seconds.

The new Model Y Performance with the Juniper refresh is expected to slightly improve on those metrics while also bringing some of the other changes introduced in the design refresh, such as a light bar, ambient interior lighting, a rear screen, and more.

Tesla previously sold the Model Y Performance for a base price of $51,500 in the US.

The new version of the vehicle is expected to launch in the coming months.

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