It’s been a tough few weeks for workers at next-gen and traditional EV battery companies, with hundreds of employees in the US and Europe losing their jobs. Call it new industry growing pains: Companies are struggling to bridge the gap between early-stage products and the high-volume production that will be needed down the line, reports The Information. Battery makers also are looking to save cash as costs surge and investors move their funding to less risky prospects.
Earlier this week, we covered Michigan-based EV battery startup ONE, Our Next Energy, cutting its workforce by 25% as part of a “revised business plan,” according to the company. The company, headquartered in Novi, a suburb of Detroit, announced that it has cut 128 salaried and hourly workers from its staff of roughly 500 people. The company kept the reasoning succinct, noting that the decision was “in response to market conditions.”
South Korea’s LG Energy Solution, which supplies batteries to Tesla and GM, laid off 170 workers last week at its Michigan plant, up to 10% of its staff. Ford supplier SK On has also laid off more than 100 workers at its plant in Georgia in September, as has Ford, which last month laid off 700 workers while scaling back production of the F-150 Lightening pickup. SK On also plans to delay the launch of its second plant in Kentucky, which is a joint venture with Ford and expected to be up and running by 2026.
Another next-gen player, Freye Battery also laid off 78 staff members from plants in Norway and Georgia, and Enovix slashed 185 workers in Fremont, California, from its payroll, moving those operations to Malaysia. Freyr saw the loss of its COO, Jan Arve Haugan, who resigned last week.
Companies are struggling to “bridge a gap between current early-stage products and high-volume production later this decade,” The Informationsays. Large battery makers are dependent on actual EV sales to increase production, while next-gen battery makers are often still in pilot mode or have yet to ramp up any of their early-phase products, and won’t be doing so for years to come.
ONE, for example, is one of many such companies in the US working on manufacturing LFP battery cells and developing a domestic battery supply chain to benefit from President Biden’s Inflation Reduction Act. Led by former Apple executive Mujeeb Ijaz, ONE is now delivering prototype versions of lithium iron phosphate battery packs to several companies for testing, with the aim of producing battery cells next year at a new $1.6 billion factory in Van Buren Township, Michigan. But it needs a lot of cash to make this happen.
Even Tesla has hinted at delaying plans for its Giga Mexico, with CEO Elon Musk saying in its Q3 earnings call that he wanted “to just get a sense for the global economy is like before we go full tilt on the Mexico factory. I am worried about the high-interest rate environment that we’re in.”
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Hyundai wants to make the electric sports car for everyone. Not just those who can afford it. The new Hyundai IONIQ 5 N Essentials trim was launched in Korea on Monday, offering a lower price tag but the same thrilling drive.
Hyundai launches new IONIQ 5 N Essentials in Korea
The IONIQ 5 N is Hyundai’s first EV sports car under the IONIQ series. Initially launched in 2023, the IONIQ 5 N marked a new era for Hyundai’s high-performance N division.
Hyundai’s electric hot hatch not only looks the part with added sporty “N” branded elements scattered inside and out, but it’s also packed with fun features, advanced tech, and a host of drive modes.
Based on a dual-motor all-wheel drive (AWD) powertrain, the IONIQ 5 N delivers up to 641 horsepower when N Grin Boost is engaged. Even without it, the electric sports car packs 601 hp.
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It also draws power from an 84 kWh battery, good for an EPA-estimated range of 221 miles. On the WLTP scale, it’s rated with an official range of 278 miles (448 km). The added power results in a lower range than other IONIQ 5 trims.
The new Hyundai IONIQ 5 Essentials trim (Source: Hyundai)
Although it was already one of the most affordable sports cars, EV or gas-powered, Hyundai is lowering the price even further.
After launching the new Essentials model in South Korea on Monday, Hyundai said the new trim “is characterized by lowering the barrier to entry so that customers can experience the overwhelming driving performance of the IONIQ 5 N at a reasonable price through optimized specifications.”
The new Hyundai IONIQ 5 Essentials trim (Source: Hyundai)
Hyundai focused on core convenience features while including the same high-performance motors, battery, and N-specific elements as the base model.
A Hyundai official said, “The Essential trim of the IONIQ 5 N is a new trim that offers greater cost-effectiveness to lower the barrier to entry for high-performance electric vehicles.”
The Hyundai IONIQ 5 N (Source: Hyundai)
The IONIQ 5 N features advanced driver assistance systems (ADAS), including highway driving assist and navigation-based smart cruise control. Hyundai has also added an exclusive new “Parking Assist Lite” package, offering safety and convenience features such as surround view monitoring and rear parking assistance.
The new Hyundai IONIQ 5 N Essentials trim starts at 74.9 million won ($54,000), including tax benefits. Hyundai said it will continue to make competitive products so more buyers can experience high-performance EVs.
2025 Hyundai IONIQ 5 N (Source: Hyundai)
Although the Essentials trim is not available in the US, the IONIQ 5 N is still more affordable than most sports cars. The 2025 Hyundai IONIQ 5 N starts at $66,200. But, with the $7,500 tax credit, which is set to expire on September 30, leases are currently listed as low as $549 per month.
A federal judge has cleared the way for Ørsted’s nearly complete 704-megawatt (MW) Revolution Wind offshore wind farm to restart construction, overturning a stop-work order imposed by the Trump administration.
Reagan-appointed senior US District Judge Royce C. Lamberth granted a preliminary injunction in Washington, DC, calling the government’s conduct “the height of arbitrary and capricious government conduct.” He added, “If Revolution Wind cannot meet benchmark deadlines, the entire project could collapse. There is no doubt in my mind of irreparable harm to the plaintiffs.”
Ørsted welcomed the ruling and said in a statement, “Revolution Wind will continue to seek to work collaboratively with the US Administration and other stakeholders toward a prompt resolution. Revolution Wind will resume impacted construction work as soon as possible, with safety as the top priority.”
The decision marks a significant setback for the Trump administration’s attempts to stall offshore wind development. Revolution Wind is already about 80% complete, with all turbine foundations and 45 of 65 turbines successfully installed, and expected to power 350,000 homes in Rhode Island and Connecticut. Earlier this month, the two states’ attorneys general announced they were suing the Trump administration to overturn its “baseless” decision to halt Revolution Wind. That underlying lawsuit challenging the stop-work order will continue to progress.
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Oceantic Network CEO Liz Burdock said, “Today’s decision allowing work to resume on Revolution Wind is welcome news for the hundreds of skilled workers who can now return to their jobs while the legal process continues. This Made in America energy project is putting Americans to work building reliable, affordable power to communities across New England that desperately need it.”
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EcoFlow’s Early Prime Day Sale increases power station discounts up to 65% with bonus savings, free gifts, and more from $169
EcoFlow has launched its Early Prime Day Sale through October 6, which is increasing discounts on power stations up to 65% off, complete with bonus sitewide savings, free gifts at certain pricing thresholds, and even additional bulk savings when buying five or more items. Among the lineup, there is a direct-sale-only offer on the DELTA 2 Portable Power Station bundled with a smart extra battery and two 110W solar panels for $892.05 shipped, after using the sitewide code 25PDFAFF at checkout for an additional 5% savings. This bundle would normally run you $2,646 at full price, and would currently cost you $1,379 buying the power station/battery bundle with two 110W panels separately at Amazon. We’ve seen this kit dropped down to $999 in direct sales before this event, with the $1,754 markdown here dropping things to a new all-time low price. Head below to get the rundown on all the extra ways to save and the full lineup of deals.
As expected, EcoFlow’s Early Prime Day Sale is bringing along plenty of bonus savings promotions while it lasts, including the 5% sitewide bonus discount you can score on any order using the code 25PDFAFF at checkout. There are also three gift with purchase options, with orders reaching $500 getting a free 45W portable solar panel, while orders reaching $1,500 get a free 220W panel and orders of $3,000 or more get a free 400W panel. There’s also the bulk savings with an extra 7% savings being given to orders of five to 10 pieces, an extra 9% savings on orders with 11 to 20 pieces, and an extra 10% savings on bulk orders of 20 or more pieces.
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EcoFlow’s DELTA 2 portable power station is a great well-rounded option for your off-grid living needs, as well as your at-home emergency backup, and with the extra battery included in the bundle, you’ll be starting with a doubled 2,048Wh LiFePO4 capacity that can bump up further to 3,072Wh with one additional battery. You’ll be getting a steady 1,800W of power through the 15 ports present here, surging up to 2,200W when needed. It’s been constructed with an IP68 waterproof rating to handle your outdoor adventures and the weather you may come across, and offers the usual array of in-app smart controls.
Seeing as you’re getting the 220W of solar panels with the bundle, you’re nearly halfway to its max 500W solar input that can put the battery back to full in three to six hours. There’s also the option to recharge from a standard AC outlet to 80% capacity in 50 minutes, or wait for 80 minutes for it to get back to full, with a car port available to plug into your car’s auxiliary cigarette lighter port for on-the-go charging too.
***Note: None of the prices below have had the extra savings factored in and currently represent the starting price listed on the brand’s direct site. Be sure to use the sitewide promo code 25PDFAFF at checkout for the best deals, with the other discounts/gifts automatically applied upon hitting their thresholds.
Equip your travels with Anker’s SOLIX C300X DC 90,000mAh power station and a 60W solar panel at $236 (Today only)
As part of its Deals of the Day, Best Buy is offering the Anker SOLIX C300X DC 90,000mAh Portable Power Station with a 60W solar panel at $235.99 shipped. We’ve been seeing this combo bundle pop up every two to four weeks over the last few months, dropping from its usual $330 price tag, with it coming in $1 lower than the previous one-day sales. You’ll only find its grey variant sitting at higher rates at Amazon (currently $250) and Anker’s direct website (currently $270), with discounts on those alternate colorways having mostly dropped costs to $250 and had fallen as low as $220 in February. For the rest of the day only, you can pick up this solar generator bundle at the third-best price of 2025 and the fourth-lowest overall, which sits $46 above the all-time low that last appeared during Black Friday.
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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