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At least one automaker will avoid cutting EV prices to compete with Tesla. Stellantis CEO Carlos Tavares took aim at Tesla, saying EV price cuts could lead to a “bloodbath,” and the brand is avoiding a race to the bottom.

Stellantis will avoid EV price cuts, takes aim at Tesla

After unveiling Stellantis’ second EV platform Friday, which will underpin the first Jeep and Dodge electric models in the US, Tavares said the brand must avoid price cuts that could pressure profits.

It could even lead to several automakers being takeover targets, Tavares said. The group’s leader claims the brand was better protected from pricing pressure that could put some rivals “in trouble” with widening losses.

“If you go and cut pricing disregarding the reality of your costs, you will have a bloodbath,” Tavares warned Friday, according to Reuters.

He added, “I know a company that has brutally cut pricing and their profitability has brutally collapsed,” taking aim at Tesla.

Tesla slashed prices throughout 2023, dropping prices on its best-selling Model Y in Europe days ago. The news comes after Tesla lowered prices in China earlier this month, the largest EV market globally.

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The 2024 Model Y
(Source: Tesla)

Stellantis knows a thing or two about merging companies after it was formed through a Fiat Chrysler and PSA Group business combination in 2021.

Although Stellantis is one of the largest EV sellers in Europe, the automaker is launching its first all-electric models in the US this year.

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Jeep Avenger, the brands first EV in Europe (Source: Stellantis)

New EVs launching in the US

Ram launched its first EV, the Ram ProMaster electric van, that will compete with Ford’s E-Transit and Rivian’s commercial electric van.

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Jeep Wagoneer S (Source: Stellantis)

Jeep is next up. The rugged off-road brand’s electric Wagoneer S is going on sale this fall. The electic SUV will feature 600 horsepower and up to 400 miles range. It can also sprint from 0 to 60 mph in 3.5 secs.

Jeep is also launching the Recon, inspired by its iconic Wrangler. The new “rugged and fully capable electric SUV” will be able to cross the Rubicon Trail.

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2024 electric Jeep Recon (Source: Stellantis)

To keep the Wrangler’s spirit alive, the Recon will include features like removable doors and windows.

Dodge’s first EV is also set to hit the market later this year. It will be an all-electric version of its iconic Charger.

The new Dodge Charger EV was spotted testing earlier this week near Chrysler’s HQ suggesting the EV is coming soon. Although Stellantis has yet to confirm specs, rumors suggest the top variant could feature around 900 horsepower.

Dodge-Charger-EV
(Source: Dodge)

Electrek’s Take

It’s easy for Stellantis to take a jab at Tesla over price cuts when it doesn’t sell any EVs in the US yet.

With the new EVs launching, Stellantis is set to double its all-electric lineup. It will be interesting to see how pricing impacts the first Jeep, Dodge, and Ram EVs as they roll out.

Tavares comments come after Ford announced plans to cut F-150 Lightning production Friday, citing “slower than expected” demand.

Although Ford and GM have slowed EV output, overseas rivals like Volvo and Hyundai are doubling down.

Both automakers have unique EV offerings in key segments. With Volvo launching the EX30, starting at $35,000, CEO Jim Rowan expects “tremendous growth” for its EVs.

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Tern launches next-gen Vektron folding e-bike in the US – now with belt drive

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Tern launches next-gen Vektron folding e-bike in the US – now with belt drive

Tern’s popular Vektron folding e-bike just got a big upgrade for the US market. The urban mobility brand has announced the launch of the fourth-generation Vektron, now available in two models, including a long-awaited belt-drive option that promises lower maintenance and a cleaner ride.

The Vektron has been a fan favorite for years, appealing to city riders, multi-modal commuters, and travelers who want a premium e-bike that folds quickly and stores easily. The new version retains its fast-folding frame, Bosch mid-drive motor, and compact portability, but introduces key improvements in comfort, ride quality, and drivetrain options – most notably the new Vektron P5i with a Gates Carbon Belt Drive. While the new version came to other markets a few months ago, the US is finally getting a chance to ride the new model.

“The Vektron has been a solid favorite of Tern riders, whether they are multi-modal commuters, urban dwellers in need of an e-bike that stores in minimal space, or campers looking to easily include an e-bike in their travels, ” explained Steve Boyd, General Manager at Tern USA. “This 4th generation introduces several important improvements while retaining its category-leading combination of Bosch mid-drive power, superior ride quality, and incredibly fast and easy folding action. We’ve also added a belt drive model and, through careful component choices, managed to deliver competitive pricing despite cost increases due to tariff pressures.”

Paired with a Shimano Nexus 5 internally geared hub, the Vektron P5i is designed for ultra-low maintenance and daily convenience. For those who prefer a traditional derailleur setup, the Vektron P10 is still available with a 10-speed Shimano Deore drivetrain and a more aggressive geometry.

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But it’s not just the drivetrain that got a refresh. Tern borrowed design elements from its popular GSD and HSD cargo bikes to give the Vektron a more upright and comfort-focused cockpit. Riders get a taller stem, swept-back handlebars, and better weight distribution, offering a more relaxed riding posture ideal for urban cruising.

Despite its compact size, the Vektron delivers big design features. Reinforced frame components, including Tern’s robust OCL+ folding joint, give it a stable and confidence-inspiring ride that the company says sets it apart from other folders on the market.

Folding takes less than 10 seconds, and once compacted, the bike rolls easily on its own wheels – no awkward lifting required. It tucks neatly under a desk or next to a workstation, offering a secure indoor parking solution for city riders wary of bike theft.

Importantly, both new Vektron models are UL 2849 and EN 15194 certified, ensuring the electrical systems meet rigorous safety standards – a welcome reassurance in a market increasingly crowded by low-cost, uncertified imports.

The Vektron P10 will retail for $3,699 USD, while the belt-drive P5i model comes in at $4,099 USD. Both are expected to land in North American bike shops by the end of the year.

Electrek’s Take

Tern definitely deserves its place as one of the leaders in premium folding e-bikes that don’t compromise on ride quality. The addition of a belt-drive model is a major win for commuters and anyone tired of greasy chains and derailleur tune-ups. And in a market where safety certifications are becoming more critical, it’s good to see Tern doubling down on UL compliance. With the new Vektron, it looks like the Goldilocks of folding e-bikes just got even better.

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Peak Energy’s $500M deal will deploy the world’s largest sodium-ion battery system

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Peak Energy’s 0M deal will deploy the world’s largest sodium-ion battery system

Burlingame, California-based Peak Energy just scored a huge win for sodium-ion batteries. The company announced a multi-year deal with utility-scale battery storage developer Jupiter Power to supply up to 4.75 GWh of sodium-ion battery systems between 2027 and 2030.

Under the agreement, Peak will deliver 720 MWh of storage in 2027 – the largest single sodium-ion battery deployment announced so far. The deal also includes an option for an additional 4 GWh of capacity through 2030, bringing the total contract value to more than $500 million.

Sodium-ion vs. lithium-ion

Peak Energy says its sodium-ion batteries degrade less over time and have lower operations and maintenance costs than lithium-ion systems. Because the batteries don’t degrade as quickly, operators don’t need to add more capacity later in a project’s life to maintain performance. They also use a fully passive cooling system that eliminates pumps, fans, and other components used in lithium-ion setups, reducing maintenance and safety risks.

The company claims its grid-scale sodium-ion system uses up to 97% less auxiliary power, offers about 30% better cell degradation performance over 20 years, and comes with a lower total cost of ownership.

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Why this deal matters

The agreement marks a significant step forward for the emerging sodium-ion sector, which has been gaining momentum as a safer and lower-cost alternative to lithium-ion for long-duration and grid-scale energy storage. It also underscores the growing effort to build a domestic sodium-ion battery supply chain in the US.

“From day one, we’ve believed sodium-ion will be the winning technology for grid-scale storage, which is essential to meet rising demand from hyperscalers and AI,” said Landon Mossburg, Peak Energy’s CEO and cofounder. “Deploying the world’s largest sodium-ion energy storage system with one of the nation’s top independent power producers proves that sodium is ready for today and will dominate the future.”

Mike Geier, CTO at Jupiter Power, said the company is “excited to support domestic battery energy storage manufacturing as we continue to increase the deployment of firm, dispatchable energy when and where it’s most needed,” and called Peak’s approach to sodium-ion “a potential game changer for the industry.”

Read more: The US’s first grid-scale sodium-ion battery is now online


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The new 2026 Lexus ES is an upgrade in just about every way [Video]

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The new 2026 Lexus ES is an upgrade in just about every way [Video]

Lexus claims the new ES “takes sedan styling, luxury, and refinement to a higher level” with a complete redesign. With the 2026 ES arriving soon, Lexus offered a closer look at the upgrades inside and out.

The new 2026 Lexus ES debuts in EV and hybrid forms

The eighth-gen ES is bringing more than a sharp new style. Lexus overhauled its flagship sedan from the ground up for the 2026 model year, which will include battery electric (BEV) and hybrid (HEV) powertrain options.

Inspired by the radical LF-ZC show car, the 2026 ES has been fully redesigned with what Lexus calls the “Experience Elegance and Electrified Sedan” concept, aimed at further refining the driving experience.

The new design centers on a redesigned “spindle body” that extends from the hood to the bumper. It also features a redesigned grille, replacing the signature Lexus spindle grille as the brand looks for a new identity in the electric era.

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Inside, the new 2026 ES features the latest version of the Lexus Interface multimedia system. The setup includes a 14″ touchscreen with wireless Apple CarPlay and Android Auto, and a 12.3″ driver display cluster.

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The 2026 Lexus ES 350e (Source: Lexus)

Based on the redesigned TNGA GA-K platform, the new ES will be available in battery electric (BEV) and hybrid (HEV) powertrains for the first time.

The 2026 Lexus ES lineup consists of two models: the ES 350e, a front-wheel-drive (FWD) model, and the ES 500e, an all-wheel-drive (AWD) model.

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The 2026 Lexus ES 350e interior (Source: Lexus)

Lexus expects the ES 350e to have a driving range of 300 miles when fitted with 19″ wheels, while the ES 500e has an estimated driving range of 250 miles.

Both the ES 350e and 500e feature a built-in NACS port to recharge at Tesla Superchargers. Using DC fast charging, it can recharge from 10% to 80% in about 30 minutes under “ideal conditions,” according to Lexus.

With its debut just around the corner, Lexus offered a closer look at the new 2026 ES inside and out in a new video.

Lexus has yet to announce prices, but the redesigned ES is expected to start at about $45,000 to $50,000, or slightly more than the outgoing model.

After launching the upgraded RZ earlier this month, Lexus said the ES would be next. It’s expected to go on sale in Spring 2026.

What do you think of the redesigned 2026 ES? Do you like the new Lexus design? Let us know your thoughts in the comments below.

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