Early this morning, the Fremantle Highway, a large cargo ship, caught fire in the North Sea, off the coast of Ameland in the Netherlands. The fire has killed one person on board and injured several more, though all 23 crew members have at this point been evacuated from the ship.
The cargo ship was carrying 2,832 gas-powered cars, complete with a large amount of volatile energy stored in their gas tanks, and 25 electric ones, from Germany to Egypt. Naturally, the media seems to have taken one statement from the Dutch Coast Guard and misinterpreted it, jumping to exactly the premature conclusion that you probably did when you saw this headline pop up on our site.
An early article about the cargo ship fire quoted Lea Versteeg, a spokesperson for the Dutch Coast Guard, as having made this statement over the phone:
It’s carrying cars, 2,857, of which 25 are electrical cars, which made the fire even more difficult. It’s not easy to keep that kind of fire under control and even in such a vessel it’s not easy.
We’re not sure who made the phone call, but since it’s in the Associated Press article, we suspect they might be the first who got this statement directly from Versteeg’s mouth.
NOS, the Dutch public broadcaster, cites a “Coast Guard spokesperson” as saying that presumably the fire was started by an EV. But unlike AP, NOS does not name the spokesperson nor does it have a direct quote from said spokesperson. So we really don’t know whether NOS talked to a spokesperson, or is cribbing from the Versteeg quote above – and changing its meaning in the process.
Reuters echoed NOS’s statement in its original article on the fire, but in a more recent article, it has now walked that back, stating “the coastguard said on its website that the cause of the fire was unknown, but a coastguard spokesperson had earlier told Reuters it began near an electric car” (emphasis ours).
But what the Versteeg quote above seems to mean is that in a ship full of vehicles, each of which is carrying their own at least partially full energy storage container (whether that be a gas tank or a battery), it’s going to be hard to put out a fire because there is a lot of fuel available for that fire. Further, given that there is a mix of fuels, it’s hard to pick a single tactic to put all of them out at once, because firefighting methods are different for different types of fires.
What the quote clearly doesn’t mean is that the Coast Guard is blaming this fire on an electric car.
And how do we know that? Well, we called them and asked them. And they told us that, no, they have not made a statement to that effect, because they don’t know the cause of the fire yet, and that this seems to be speculation in the media.
We also checked the Dutch Coast Guard’s liveblog about the firefighting efforts, and their Twitter page, and neither said anything about electric cars. In fact, the liveblog has now been updated to say, “The cause of the fire is still unknown.” And it makes sense that the Coast Guard would not know yet what the source of the fire is, and it would be unprofessional of them to say so, given that the fire isn’t even contained yet.
So we must conclude that this is being misreported. An official statement in writing says the cause is unknown. There is nothing from officials in writing mentioning the speculation about electric cars. We don’t have a direct quote, and we don’t have a name for the spokesman who said it. The misreported information seems like it could have come from a misinterpretation of a direct quote that we do know of, and at least one of the sources has now walked it back. It was confirmed to us over the phone that the Coast Guard has not come to this conclusion and that this is all media speculation.
And yet, you probably have a strong association in your subconscious between fires and electric cars.
This association is why events like the aforementioned reporting on the 1,200-car ship had to specifically mention that “there were no electric cars on board.” Because the last time a ship made headlines for burning, it was one that had a lot of electric cars on board (and notably also several gas-powered Lamborghini Aventadors, which have been recalled for fires). And despite burning ships being a not-uncommon event, this one made so many headlines precisely because of the nature of the electric cars on board.
That event also had several early reports laying blame on said electric cars, but that was also early speculation, by media, never by official authorities, and the cause of that fire is still unclear to this day. But the association remains.
There is a concept in journalism that is summarized as “Man Bites Dog.” The saying goes that you would never report on a dog biting a man, because that’s a common occurrence, but if a man bites a dog, well, that’s interesting and rare, so that belongs in the paper.
What this means is that news tends to magnify rare events, and de-emphasize common ones. And in our media-saturated landscape, where everyone is constantly being bombarded by headlines that they don’t have the time or inclination to analyze (thank you to the ~.1% of people who saw the headline and actually clicked and read through to this sentence), this leads people to have a warped view of the commonality of certain events.
Unfortunately, in writing this article, we have become part of the problem. By posting about fires in an electric vehicle publication, we have created an association in the minds of anyone who sees this headline between electric cars and fires.
Which is why persistent associations like these are so hard to shake. Even the debunking itself can reinforce the association, through a concept known as the “backfire effect.”
Unfortunately, there is no single magic bullet to combat this. What we can do is encourage people to be critical but not cynical about the information you read, check several sources (that preferably do not look like they’re all cribbing from the same single statement), try to avoid sources that are clearly tabloids or have a clear ideological bias (e.g., Daily Mail, a climate denying publication, which wrongly put EVs in its headline on this story), and try to maintain perspective, especially when encountering purported problems with new technologies. (That is, if people bring up a problem with something new, does that problem also exist with the old thing it’s replacing? Have you merely accepted the devil you know, and are afraid of the devil you don’t know?)
And that goes double for journalists. This is your job, that phone call took all of a minute of my time to clear that up. The tweet was another couple minutes to find because I had to search in Dutch. The liveblog was a few minutes because it’s slammed with more traffic than the Dutch Coast Guard usually has to deal with.
Forget the patio set. This Memorial Day, the real deals are on EVs. While some savings, including the $7,500 federal EV tax credit, could soon disappear, there’s still time to take advantage of the discounts. We rounded up all the EVs you can lease right now for under $300 a month.
Best EV lease deals this Memorial Day
After a record year with over 1.3 million EVs sold in the US in 2024, several new models arrived this year, giving you more options than ever.
Nearly 300,0000 electric vehicles were sold in the first three months of the year. New Acura, Chevy, Honda, and Porsche EVs helped drive sales higher.
General Motors sold over 30,000 EVs in Q1, surpassing Ford and Hyundai Motors to become the second-best seller of EVs behind Tesla. Chevy is now the fastest-growing EV brand with the new Equinox, Blazer, and Silverado EVs sparking growth.
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Honda and Acura are getting into the game, selling over 14,000 EVs in the US in the first quarter, which is up from zero just a year ago.
According to S&P Global Mobility (via Automotive News), new models, including the Honda Prologue and Chevy Equinox EV, pushed EV registrations up 20% in March. Both are available to lease for under $300 this month.
Hyundai’s new 2025 IONIQ 5 Limited with a Tesla NACS port (Source: Hyundai)
Hyundai and Kia Memorial EV lease deals
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2025 Kia Niro EV
$129
24
$3,999
$295
2024 Kia EV6
$179
24
$3,999
$345
2025 Hyundai IONIQ 5
$209
24
$3,999
$375
2025 Hyundai IONIQ 6
$169
24
$3,999
$335
Kia and Hyundai continue to offer some of the most affordable, efficient electric vehicles on the market. The Niro EV is one of the cheapest EVs you can lease in May at just $129 per month.
The new 2025 IONIQ 5, now with more range and a Tesla NACS charging port, and the IONIQ 6 are arriving with significant discounts.
Last month, Hyundai launched a promo giving those who buy or lease a new 2024 or 2025 model year IONIQ 5 or IONIQ 6 a free ChargePoint Level 2 home charger. If you already have one, you can also opt for a $400 public charging credit.
2024 Honda Prologue Elite (Source: Honda)
Honda Prologue and Acura ZDX
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2024 Honda Prologue
$239
36
$1,399
$335
2024 Acura ZDX
$299
24
$2,999
$424
Honda’s electric SUV is on a hot streak. In the second half of 2024, the Prologue was the second-best-selling electric SUV behind the Tesla Model Y. Through April, Honda’s electric SUV remained a top seller with nearly 11,500 models sold.
With an ultra-low lease rate of just $239 per month, the Prologue is even more affordable than a Civic this month. No wonder sales are surging.
Honda launched the 2025 model earlier this month, which now offers more range (up to 308 miles) and power, but retains the same low starting price.
This Memorial Day, Acura’s luxury electric SUV is one of the best EV deals and is actually cheaper to lease than the Honda CR-V. The ZDX can be leased for as low as $299 for 24 months. With only $2,999 due at signing, the effective cost is just $424 per month. In some states, ZDX discounts reach as high as $28,000, also making it more affordable than a Civic to lease this month.
Chevy Equinox EV LT (Source: GM)
Chevy Blazer and Equinox EVs
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2024 Chevy Equinox EV
$299
24
$3,169
$431
2025 Chevy Equinox EV
$289
24
$2,399
$389
2024 Chevy Blazer EV
$299
24
$3,879
$461
Chevy’s new electric SUVs are quickly rolling out. The electric Equinox was among the top five best-selling EVs in the final three months of 2024. Both can be leased for under $300 a month this Memorial Day. The Blazer EV is still slightly more expensive, at $3,879. Keep in mind that the Blazer EV deal also includes a $1,000 trade-in bonus.
The electric Equinox SUV, or “America’s most affordable +315 miles range EV,” as Chevy calls it, is even cheaper than the gas model this month with up to $8,500 in savings.
Chevy’s new 2025 Equinox is even more affordable at just $289 for 24 months. With $2,399 due at signing, you’ll pay only $389 per month.
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)
Ford F-150 Lightning and Mustang Mach-E
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2024 Ford Mustang Mach-E
$213
36
$4,462
$337
2024 Ford F-150 Lightning
$233
24
$6,792
$421
Ford’s F-150 Lightning overtook the Tesla Cybertruck to regain its title as America’s best-selling electric pickup in March. The Mach-E remains one of the top-selling EVs with over 14,500 models sold through April.
Ford is sweetening the deal with a free Level 2 home charger for any EV purchase or lease through its “Power Promise,” along with a host of other benefits.
2024 Subaru Solterra (Source: Subaru)
Toyota bZ4X and Subaru Solterra
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2025 Toyota bZ4X
$259
36
$2,999
$342
2024 Subaru Solterra
$279
36
$279
$287
2025 Subaru Solterra
$299
36
$299
$307
Japanese automakers are starting to find their rhythm. Toyota bZ4X and Subaru Solterra sales are finally picking up. With an effective cost of only $287 per month, the Solterra may be the better option this month, especially with its standard AWD.
After cutting lease prices this month, the 2025 Subaru Solterra is now listed at just $299 for 36 months. With $299 due at signing, the effective monthly cost is only $307.
Other EV lease Deals at under $300 this Memorial Day
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2025 Nissan LEAF
$259
36
$2,279
$322
2025 Nissan Ariya
$129
36
$4,409
$251
Fiat 500e
$159
24
$1,999
$242
In some states, Nissan is offering Ariya lease prices as low as $129 for 36 months. That’s with $4,409 due at signing for an effective cost of $251. For an electric SUV with an MSRP of nearly $42,000, that’s a steal.
Some of these rates may vary by region. The $239 per month Honda Prologue lease deal is offered in California and other ZEV states. Acura’s $299 ZDX promo is only available in California, New York, Oregon, and other select states.
In other parts of the country, the Prologue is still listed at just $269 per month for 36 months. With $3,199 due at signing, the effective monthly cost is still just $358. However, a $1,000 conquest or loyalty offer can lower monthly payments to around $330.
Trump’s “Big Beautiful Bill Act” was passed by House Republicans on Thursday, essentially ending the $7,500 EV tax credit and other clean energy incentives. By the end of 2025, automakers that have delivered over 200,000 electric vehicles in the US will lose access. In other words, they won’t be able to pass it on to you, the buyer.
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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 a new launch of a full-suspension e-bike from Velotric, Yamaha-backed company’s plan for battery swapping in electric bicycles, buying a super-cheap e-bike from China, testing the Meepo Flow electric skateboard, PodBike closes its doors, the impending launch of the Royal Enfield Flying Flea electric motorcycle, 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:
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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Oil prices held near two-week highs in early trading on Wednesday, supported by an agreement between the U.S. and China to temporarily lower their reciprocal tariffs and a falling U.S. dollar.
Imaginima | E+ | Getty Images
A protracted slump in crude prices has ramped up the pressure on Big Oil’s commitment to allocate cash to shareholders.
Western energy supermajors have long sought to return cash to investors through buyback programs and dividends to keep their shareholders happy. Energy executives have also expressed confidence that they can continue to reward investors following a relatively robust set of first-quarter earnings.
Some analysts, however, are less convinced about Big Oil’s pledge to return ever-higher shareholder returns, citing already stretched balance sheets and a sharp drop in crude prices.
Oil prices have fallen more than 12% year-to-date amid persistent demand concerns and U.S. President Donald Trump’s back-and-forth trade policy.
Espen Erlingsen, head of upstream research at consultancy Rystad Energy, said recent market volatility has left the energy majors with “few economically attractive options” that allow for reinvestment while maintaining a competitive capital returns framework.
“As companies like Shell and ExxonMobil continue to push ahead with large-scale buyback programs despite shrinking cash inflows, the durability of these strategies is in question. For now, the majors are holding the line. But if oil prices remain depressed, adjustments may be inevitable,” Erlingsen said in a research note published Thursday.
Share buybacks, which are typically more flexible than dividends, are “likely to be the first lever pulled,” he added. In that vein, weaker crude prices mean energy majors will have less cash to return to shareholders.
BP logo is seen at a gas station in this illustration photo taken in Poland on March 15, 2025.
Nurphoto | Nurphoto | Getty Images
Investor concern over the sustainability of Big Oil’s shareholder returns comes after a year of record-breaking payouts.
Analysts at Rystad said total shareholder rewards from the likes of Shell, BP, TotalEnergies, Eni, Exxon Mobil and Chevron climbed to a whopping $119 billion in 2024, beating the previous record set in 2023.
The payout ratio, which refers to shareholder payouts as a share of corporate cash flow from operations (CFFO), meanwhile jumped up to 56% last year, Rystad said. That was well above the 30% to 40% range that was typical for the industry from 2012 through to 2022, the analysts added.
If shareholder payouts were to remain at 2024 levels throughout 2025, Rystad said this would imply companies distribute more than 80% of their cash flow to investors. The estimate was based on Big Oil’s first-quarter CFFO as a proxy for full-year performance.
Point of maximum weakness
For European majors, analysts at Bank of America said at the start of the year in a note entitled “bye-bye buybacks?” that it anticipated cuts in such returns, from companies whose balance sheets were already stretched.
The Wall Street bank cited BP, Repsol and Eni at the time. It added that only Shell, TotalEnergies and Equinor were among the regional players likely to keep their respective 2025 buyback run-rates intact.
Spokespersons for Repsol and Eni were not immediately available to comment when contacted by CNBC.
So far, BP is the only European energy major to have trimmed its buyback run-rate. The beleaguered British oil company last month posted a sharp fall in first-quarter profit and reduced its share buyback to $750 million, down from $1.75 billion in the prior quarter.
BP, which has been the subject of intense takeover speculation, also reported significantly lower cash flow and rising net debt for the first quarter.
Lydia Rainforth, head of European energy, equity research at Barclays, said BP’s future appears to be “really bright” — on the condition that the company can get through the next six months.
“If I think about when is that point of maximum weakness for BP, it is over the next six months, ultimately. Debt continues to go up a little bit, production continues to fall until mid-2026,” Rainforth told CNBC’s Steve Sedgwick on Thursday.
“As I get towards the end of the year, hopefully we’ll see that sum of divestments taking down debt. Things like … selling their lubricants business, that could raise between $12 billion to $15 billion. It brings down debt, you start to see the benefit of cost savings coming through, and then production growth starts kicking in next year,” she added.