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Hyundai has announced that it will raise factory worker pay by 25% after UAW’s historic strike wins, where it earned 25%+ pay increases at all of the Big Three American automakers. After Toyota and Honda did the same recently, this shows how union wins tend to affect entire industries, raising conditions for even nonunionized companies who have to compete for workers.

The news today comes from AP, who reported Hyundai will increase factory worker pay 25% by 2028. The pay increase roughly matches the increase in base factory worker pay won by UAW in its negotiations, though Hyundai didn’t add any details about additional cost-of-living adjustments or faster progressions to the top wage – two major points of the new UAW contract.

Hyundai COO Jose Munoz said “Hyundai continuously strives to maintain competitive wages and benefits commensurate to industry peers.”

But this isn’t the only similar announcement from a nonunionized company. Last week, Honda raised wages of some workers by 11%, along with a faster progression to the top of the wage scale and additional benefits like child care and student loan help. Honda said it “continuously reviews our total rewards packages to ensure we remain competitive within our industry.” The company also said “we will continue to look for opportunities to ensure that we provide an excellent employment experience for Honda associates.” 

Prior to that, Toyota took the opportunity to hike the pay of most of its US assembly workers by 9.2% immediately after the UAW deals were announced. After Toyota’s pay hike, UAW President Shawn Fain recognized that it was a response to his union’s new contract, saying, “Toyota, if they were doing it out of the kindness of their heart, they could have chosen to do it a year ago.”

Fain called these wage increases the UAW bump and said “UAW, that stands for ‘U Are Welcome’.”

UAW wants to maintain this momentum and has openly stated that it wants to unionize more nonunionized companies in the US. In UAW’s victory announcement, Fain said that it plans to come back to the bargaining table in 2028 on May 1, otherwise known as May Day or International Workers’ Day, but that time, it “won’t just be with a Big Three, but with a Big Five or Big Six.”

At the time, he didn’t specify who exactly those extra two or three companies would be, but later, plenty of company names have come up. Last week, President Biden said he would support UAW’s push to unionize Tesla and Toyota ahead of a meeting with Fain, with Honda’s pay raise announcement coming right after that well-publicized meeting.

Hyundai has not been mentioned by name yet, but as one of the bestselling auto companies in the US, it could be a natural choice. The company is also a top EV maker, and is charging forward with expanding its EV manufacturing in a time when other companies are waffling.

Electrek’s Take

Unions are having a bit of a moment in the US, reaching their highest popularity ever since surveys started asking about them.

Much of union popularity has been driven by COVID-related disruptions across the economy, with workers becoming unsatisfied due to mistreatment (labeling everyone “essential,” companies ending work-from-home) and with the labor market getting tighter with over 1 million Americans dead from the virus and another 2-4 million (and counting) out of work due to long COVID.

Unions have seized on this dissatisfaction to build momentum in the labor movement, with unions striking successfully across many industries and organizers starting to organize workforces that had previously been nonunion.

Announcements like Hyundai’s, Honda’s, and Toyota’s show how high union membership has a tendency to improve working conditions for every worker and why the US has had gradually lower pay and worse conditions over the decades since union membership peaked. It’s really not hard to see the influence when you plot these trends against each other.

It’s quite clear that lower union membership has resulted in lower inflation-adjusted compensation for workers, even as productivity has skyrocketed. As workers have produced more and more value for their companies, those earnings have gone more and more to their bosses rather than to the workers who produce that value. And it all began in the 80s, around the time of Reagan – a timeline that should be familiar to those who study social ills in America.

Conversely, these two actions show the impact that unionized workers can have not only for their own shops but for nonunionized workplaces as well. If workers gain a big pay increase in one part of an industry, all of a sudden, workers at other companies might start thinking they want to jump ship, maybe move over to another company where they can get better pay or better conditions. To retain workers, companies then need to raise wages.

In addition, nonunionized companies may want to keep their employees nonunionized and thus see the pay raises as a way to satiate their employees into maintaining the status quo. If workers at Toyota see that UAW workers are getting huge pay increases and lots of additional benefits, maybe they’ll think that UAW can bring them the same benefits and start talking about unionizing.

Companies generally think they should avoid having a unionized workforce because a unionized workforce means more pay for workers, which to them means less pay for the executives and shareholders making the decisions. So they’ll offer whatever carrots they can to keep workers from organizing to have their voices heard collectively. Individually, workers have little influence over what their pay and conditions should be.

All of this isn’t just true in the US but also internationally. If you look at other countries with high levels of labor organization, they tend to have more fair wealth distribution across the economy and more ability for workers to get their fair share.

We’re seeing this in Sweden right now, as Tesla workers are striking for better conditions. Since Sweden has a 90% collective bargaining coverage, it tends to have a happy and well-paid workforce, and it seems clear that these two things are correlated. And while that strike is continuing and we haven’t yet seen the effects of it, most observers think that the workers will eventually get what they want since collective bargaining is so strong in that country.

These are all reasons why, as I’ve mentioned in many of these UAW-related articles, I’m pro-union. And I think everyone should be – it only makes sense that people should have their interests collectively represented and that people should be able to join together to support each other and exercise their power collectively instead of individually.

This is precisely what companies do with industry organizations, lobby organizations, chambers of commerce, and so on. And it’s what people do when sorting themselves into local, state, or national governments. So naturally, workers should do the same. It’s just fair.

And it’s clear that it helps – so even if you aren’t unionized yourself or have a job that doesn’t lend well to unionization, you should probably be happy about other union efforts since they tend to buoy entire economies for the people who are creating the value in the first place: the workers.

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EcoFlow Mega Sale takes 65% off power stations + new flash sale lows, Aventon e-bikes $700 off, Husqvarna tools, more

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April 4, 2025

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EcoFlow Mega Sale takes 65% off power stations + new flash sale lows, Aventon e-bikes 0 off, Husqvarna tools, more

We’re closing out this week’s Green Deals with a double-feature from EcoFlow, as the brand has launched its Members’ Mega Sale (AKA its Members’ Festival) that is running parallel to its ongoing Easter Sale with a fresh batch of offers at up to 65% off, like the DELTA Pro 3 Portable Power Station that is hitting $2,799, among others – all complete with bonus savings and rewards. On top of the initial sale, the brand is also giving us two short-term flash savings to new low prices on the RIVER 2 Pro Portable Power Station for $349 and dual DELTA Pro Smart Extra Batteries for $2,899. Aventon’s Spring Into Motion Sale getting extended, with the Abound Cargo e-bike down at $1,599, as well as its legacy discounts and a full list of its latest smart models. Lastly, we have a roundup of Husqvarna lawn care equipment seeing discounts, like the 40V 24-inch Hedge Master 320iHD60 Cordless Electric Hedge Trimmer at $270. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s Lectric April Showers e-bike sale, Jackery’s flash offers, 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.

EcoFlow Members’ Mega Sale takes 65% off additional units alongside Easter Sale offers – starting from $113

Running parallel to its ongoing Easter Sale, EcoFlow is adding some additional deals to the mix in an alternate Members’ Mega Sale through April 14 with up to 65% discounts across the lineup. Among the new offers, one that caught our eye was the newer DELTA Pro 3 Portable Power Station which has dropped down to $2,799 shipped in both sales. Normally carrying a $3,699 price tag outside of sales, the lowest we’ve seen discounts drop the costs was (without bonus savings) $2,899 in last month’s limited Spring Sale flash offers, with it going to $2,999 for Black Friday before that. Today though, we’re looking at the lowest initial price cut direct from the brand as $900 is struck from the tag, with it even matching at Amazon.

As with the case of its Easter Sale, the Members’ Mega Sale is offering the same bonus savings – all you have to do is become a member (free sign-up) before making your purchase. Let’s do a quick rundown on what you can score afterwards: a free Power Hat ($129 value) on orders over $500 or two 125W solar panels ($499 value) on orders over $3,000. You’ll also score 800 EcoCredits upon member sign-up, as well as an extra 500 for each order placed – plus, 3x the EcoCredits from purchases for standard members and 3.5x EcoCredits for Plus members. On top of all this, you can redeem already collected EcoCredits to cut 5% in additional savings from your cart’s total at checkout.

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One of the EcoFlow’s newer power stations, the DELTA Pro 3 starts off with a 4,096Wh LiFePO4 capacity that you can further bolster upwards to as high as 48,000Wh. Likewise, its starting 4,000W of output power (which surges to 6,000W) will also expand with additional equipment up to 12,000W – particularly when three power stations have been connected together. Unlike the other units under the brand’s flag, this one boasts a massive array of recharging methods: seven solo-source options and 18 combination options. Plugging it into a standard wall outlet, for example, fills you back to an 80% battery in 50 minutes, or you could take advantage of the 2,600W max solar input, EV charging, cigarette outlets in cars, dual PV charging, and much more.

There are 14 output port options to cover all your devices and appliances, one of which happens to be a TT-30R port to cover RV needs too – with you able to monitor and adjust settings and performance through the smart controls via the companion app. It’s one of the few models that’s been given the brand’s X-Core 3.0 tech, providing superior host safety, performance, and intelligence improvement. It also allows for its surging power output to climb higher for more demanding appliances while also increasing charging speeds, lessening noise and temperatures, improving the battery management system, and extending its overall lifespan – you can charge and recharge it every day for nearly 11 years, which means with less use it’ll last you many more beyond.

EcoFlow’s other DELTA Pro 3 Mega Sale deals:

EcoFlow’s Members-only Mega Sale deals:

EcoFlow’s Mega Sale hot bundles:

EcoFlow’s Mega Sale refurbished deals (use code MEM5OFF at checkout)

As mentioned before, EcoFlow’s Members’ Mega Sale is running alongside its counterpart sale through April 14, so if you don’t see anything in the offers above, be sure to head over to our Easter Sale coverage to get a look at the full array of deals. You can also currently find the brand’s new RIVER 3 Plus 286Wh LiFePO4 Power Station at a new $189 low at Amazon right now too. 

EcoFlow RIVER 2 Pro Portable Power Station

EcoFlow flash sale takes 48% off two units, with the RIVER 2 Pro 768Wh LiFePO4 power station at new $349 low

As part of its Easter Sale and the parallel Members’ Mega Sale, EcoFlow has launched the first of its limited flash sale offers that are taking up to 48% off two units. The first of these is the RIVER 2 Pro Portable Power Station that is down at $349 shipped. Normally going for $599 at full price, we’ve seen it come down as low as $359, first as part of last month’s Spring Sale and continuing through these two new sales running through April 14. The limited-time flash savings here today, though, are taking an additional $10 off the discounted rate for a total of $250 in savings at a new all-time low price.

On the larger end of EcoFlow’s RIVER series, the RIVER 2 Pro is a compact backup solution that supports you through short-term needs for campsites, road trips, and the like, with a 768Wh LiFePO4 capacity. It outputs up to 1,600W of power through its eight port options, all thanks to the X-boost tech inclusion that allows it to “run 80% of home appliances.” Last minute travel plans are far easier here too, as it can recharge in just 70 minutes with a wall outlet, alongside USB-C and car port options too. You can connect up to a maximum 220W solar input, putting it back at full via the sun’s rays in 3.5 to 4.5 hours.

The second of these offers gives you two DELTA Pro Smart Extra (expansion) Batteries for $2,899 shipped. Normally just one of these batteries at full price runs you $2,799, with the current sales’ pricing dropping things to $1,599, making this quite the steal if you’ve been wanting to expand your existing DELTA Pro setup closer to its max 25kWh capacity.

Be sure to check out the full lineup of EcoFlow’s Easter Sale deals, as well as the newly added Members’ Mega Sale deals that are both running through April 14 – with both offering bonus savings, free gear, and more.

Aventon Abound Cargo e-bike

Aventon’s extended Spring Sale gives you the cargo-hauling Abound e-bike at $1,599

Aventon has extended its Spring Into Motion sale through April 16 with up to $700 in savings off its lineup of e-bikes while also making room for its large selection of new smart models. Among the bunch, the brand’s Abound Cargo e-bike is down at $1,599 shipped. Normally you’d have to shell out $1,999 for this model, though its been more consistently keeping at $1,799 during sales since May 2024, which was also the last time we saw it brought down to $1,599. You’ll be saving $400 off the going rate here, with the option to upgrade to its newest generations, the Abound SR smart e-bike for $100 more or the Abound LR smart e-bike for $200 more, with the difference between them being the latter’s seven-inch longer cargo space with a lockable onboard storage bag and 8-pound heavier chassis.

Since its release in 2023, Aventon’s Abound Cargo e-bike has been quite the popular model. It comes with a 750W rear hub motor that peaks at 1,200W to tackle inclines and increase its cargo-hauling potential, as well as a 678.2Wh integrated battery – the combination of which provides you with top speeds of 20 MPH for up to 50 miles of travel when its four PAS levels (supported by a torque sensor) are activated. Of course, there’s also the pure electric riding option via the throttle, though you should take into consideration that this will shorten its travel range.

It comes along with plenty of solid features too, including a front suspension fork, hydraulic brakes, integrated front and rear lights with turn signal functionality, fenders over both tires, the integrated rear cargo rack with a 143-pound payload, a Shimano 7-speed derailleur, a kickstand, a storage bag, and an LCD Smart “Easy Read” display.

Aventon’s Spring Into Motion sale legacy e-bike deals:

Aventon’s newest e-bike models (no price cuts):

  • Soltera 2.5 Lightweight e-bike: $1,199
    • 20 MPH for up to 46 miles
  • Sinch 2.5 Compact Folding e-bike: $1,799
    • 20 MPH for up to 55 miles
  • Abound SR Cargo e-bike: $1,899
    • 20 MPH for up to 60 miles
    • GPS tracking, remote locking, geofencing, passcode, keyless battery, alarm system, more
  • Level 3 Smart Step-Over Commuter e-bike: $1,899
    • 20 MPH for up to 70 miles
    • GPS tracking, auto-lock, unusual movement detection, alarm system, more
  • Level 3 Smart Step-Through Commuter e-bike: $1,899
    • 20 MPH for up to 70 miles
    • GPS tracking, auto-lock, unusual movement detection, alarm system, more
  • Abound LR Cargo e-bike: $1,999
    • 20 MPH for up to 60 miles
    • 6 inches longer, 8 pounds heavier, with lockable onboard storage over SR model
    • GPS tracking, remote locking, geofencing, passcode, keyless battery, alarm system, more
Husqvarna 40V 24-inch Hedge Master 320iHD60 cordless electric hedge trimmer

Tackle heavy-duty trimmer jobs with Husqvarna’s 40V 24-inch Hedge Master 320iHD60 at $270

Amazon is now offering the Husqvarna 40V 24-inch Hedge Master 320iHD60 Cordless Electric Hedge Trimmer for $269.99 shipped. Brought down off its usual $320 price tag, this hedge trimmer is among the few electric models from under Husqvarna’s that see more regular discounts, whereas many others often only see seasonal sales pricing, like for Black Friday, Christmas, and the like. While we’ve seen this particular bundle with the battery and charger fall as low as $223 back during October’s Prime Day, you’re still looking at a solid $50 price cut down among some of its lowest rates. If you already own an appropriate battery/charger, you can score the hedge trimmer by itself for $200.

Husqvarna’s Hedge Master 320iHD60 has been equipped with a high-torque brushless motor for “increased efficiency, increased reliability, reduced noise and longer product life.” It provides you with a 24-inch reach, with your comfort taken into mind via the tri-handle grips that allow for easier heavy-duty jobs on top of longer-spanning usage. Its blades are able to handle cutting through branches up to 1-inch thick, with an un-jam button that opens the blades up for easier clearing should the unexpected happen. You can extend runtimes by using any of the brand’s interchangeable 40V batteries here too, or use the included battery in the bundle with alternative equipment you may have.

Other Husqvarna electric lawn care discounts:

Husqvarna Combi Switch/attachment discounts:

Best New Year 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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Affirm heads for second-worst week on record on tariff worries, Klarna delayed IPO

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April 4, 2025

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Affirm heads for second-worst week on record on tariff worries, Klarna delayed IPO

Igor Golovniov | SOPA Images | Lightrocket | Getty Images

Affirm shares have plunged nearly 30% in the past two trading days and are on track to close out their second-worst week on record, following President Donald Trump’s sweeping tariff announcement on Wednesday.

Widespread tariffs could represent a particular problem for Affirm, because the provider of buy now, pay later loans is reliant on consumer spending, and economists expect prices to rise on all sorts of goods. The news got worse on Friday when Affirm rival Klarna delayed its long-anticipated IPO due to market volatility.

Klarna had planned to debut on the New York Stock Exchange under the ticker KLAR, targeting a valuation around $15 billion. Affirm’s market cap is now $11 billion. Klarna reported $2.81 billion in revenue last year, which is about what Affirm generated over the past four quarters.

In addition to Klarna, ticketing marketplace StubHub hit pause on its share sale, raising concerns that the IPO market’s expected rebound won’t be taking place anytime soon. The Nasdaq is down more than 9% this week, headed for its steepest drop since the early days of the Covid pandemic in 2020.

Read more about tech and crypto from CNBC Pro

The setbacks mark a sharp turn for the BNPL sector, which had Wall Street excited towards the tail end of 2024. Affirm shares soared 60% in November, the month Trump was elected. Jack Dorsey’s Block, which owns BNPL provider Afterpay, jumped 22% that month, but is down 9% this week.

James Friedman, an analyst at SIG, noted Affirm’s exposure to fashion, beauty, and travel, which are often hit hardest when consumers retreat. Roughly 42% of Affirm’s transactions are in general merchandise, with fashion and travel combining for another quarter of volume.

A spokesperson for Affirm declined to comment on Klarna’s delayed listing.

Regarding market volatility, the spokesperson said the adoption of products like Affirm, which offer more flexible options than credit cards, “is a secular and enduring trend across market cycles.”

“We underwrite every transaction before making a real-time credit decision and enable consumers to pay over time without any late or hidden fees,” Affirm said.

WATCH: Affirm CEO: We’re a replacement for credit cards, not debit cards

Affirm CEO: We're a replacement for credit cards, not debit cards

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Porsche Cayenne EV spotted in the US with a new look

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3 hours ago

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April 4, 2025

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Porsche Cayenne EV spotted in the US with a new look

Porsche-Cayenne-EV-Coupe-US

The electric SUV will finally be here later this year. With its highly anticipated debut just around the corner, the Porsche Cayenne EV was caught in a parking lot in the US with a sleek new design.

Porsche Cayenne EV coupe is testing in the US

After launching its second electric vehicle, the Macan EV, last year, Porsche will add its third later this year. Although the luxury automaker shifted plans with a new lineup of plug-in hybrid (PHEV) and gas-powered cars on the way, Porsche confirmed the fourth-gen Cayenne will still go fully electric.

Porsche introduced major upgrades on its largest SUV in 2024, but CEO Oliver Blume promises the EV version will “set standards in the segment as an electric SUV.”

After the first electric Cayenne prototypes left the Porsche factory last year, we got a sneak peek of the SUV as it hit the streets for testing.

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You can see that the electric SUV retains the signature Porsche design but with a few upgrades to help it stand out as an EV.

Porsche Cayenne EV Coupe testing in the US (Source: KindelAuto)

After a new Cayenne EV model was spotted testing in the US, it looks like we will have two versions to choose from. The new image from KindelAuto reveals what appears to be the coupe variant with a more crossover-like design.

The coupe has a streamlined profile with a much lower roofline, adding to its already sporty design. Although more details will be revealed closer to launch, we know it will be based on the PPE platform, which underpins the current Macan EV and Audi Q6 e-Tron.

Porsche said the platform will receive “comprehensive” upgrades for the upcoming electric SUV. The Macan EV has an EPA-estimated range of 308 miles. On the European WLTP scale, it’s rated at 613 km (381 miles).

The Porsche Cayenne EV will debut later this year as a 2026 model. Porsche is also working on a larger ultra-luxury electric SUV, codenamed “K1” internally, slated to launch in 2027.

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