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Activists at a “Look Down action” rally to stop deep sea mining, outside the European Parliament in Brussels on March 6, 2023.

Kenzo Tribouillard | Afp | Getty Images

It’s likely only a matter of time before scraping the ocean floor for valuable metals becomes a reality, according to the head of the International Seabed Authority, the U.N. regulator that oversees deep-sea mining.

Michael Lodge, secretary-general of the ISA, told CNBC that global interest in deep-sea mining has climbed to levels not seen since the 1970s, with advocates clearly excited by the industry’s potential role in the energy transition.

“One of the main drivers of industrial interest is the potential to produce larger quantities of minerals at equivalent or lower cost to what can be produced on land,” Lodge told CNBC via videoconference.

“That’s the commercial driver and certainly there is vast resource potential in seabed minerals. The question is whether they can in the end be produced economically,” he added.

“But the resource potential is absolutely there. This is clear. The technology is advanced, so it seems like it is possible. And at the same time, it is very clear also that demand for minerals is increasing exponentially and is only going to continue to increase.”

His comments come as the ISA prepares to recommence talks on deep-sea mining in Kingston, Jamaica next month. The seabed watchdog’s forthcoming session will seek to iron out a regulatory framework that, if adopted, would give the go-ahead to deep-sea mining on a commercial scale.

Established 30 years ago, the ISA regulates mining and related activities in an area that covers around 54% of the world’s oceans. The group consists of 168 member states and the European Union. The U.S. is not a member of the ISA.

It hasn’t been done yet so it is very hard to say conclusively that it would be as destructive as some people claim that it would be.

Michael Lodge

Secretary general of the International Seabed Authority

The controversial practice of deep-sea mining involves using heavy machinery to remove minerals and metals — such as cobalt, nickel, copper and manganese — that can be found in potato-sized nodules on the ocean floor. The end-use of these minerals are wide-ranging and include electric vehicle batteries, wind turbines and solar panels.

Scientists have warned that the full environmental impacts of deep-sea mining are hard to predict. Environmental campaign groups, meanwhile, say the practice cannot be done sustainably and will inevitably lead to ecosystem destruction and species extinction.

Marine ecosystems

Notably, Norway’s parliament recently voted to approve a government proposal to open a vast ocean area for deep-sea mining on a commercial scale. The decision signaled the Nordic country’s intention to begin deep-sea mining activities in its national waters near the Svalbard archipelago.

To be sure, Norway’s government does not intend to immediately start drilling for minerals. Instead, mining companies will need to submit proposals for licenses that will be voted on a case-by-case basis in parliament.

When asked whether it was now likely a matter of time before countries begin deep-sea mining, ISA’s Lodge replied, “Clearly now, we are reaching a very high level of interest so I would say that yes it seems to be inevitable.”

“Whether that takes place in international waters, or in national waters, whether that be Norway or another country, that’s impossible to say,” he added. “It depends in part upon the terms and conditions I suppose.”

Environmental activists calling for an international moratorium on deep-sea mining.

Sopa Images | Lightrocket | Getty Images

The ISA Council, a body composed of 36 member states, has previously said it intends to continue its work on deep-sea mining regulations, with a view to finalizing the measures by July 2025.

To date, 24 countries worldwide have called for a moratorium or pause on the industry, while multinational companies such as Google, Samsung and Volvo have pledged not to source any minerals from the seabed.

Marine ecosystems are not well understood. Campaigners fear that exploration and exploitation activities in the deep sea could permanently alter a home that is unique to known — and many as yet unknown — species.

“It hasn’t been done yet so it is very hard to say conclusively that it would be as destructive as some people claim that it would be,” the ISA’s Lodge said.

“It is a very deliberate and slow process. Exploration has been going on in excess of 30 years now, so a great deal of information and data has been gathered. The technology is still developing, the more recent results of technology tests have been extremely encouraging in terms of being actually very low impact compared to other forms of mining.”

‘Desperate situation’

The world’s fast-growing appetite for energy transition minerals shows no sign of slowing down.

Nonetheless, the International Energy Agency has warned that today’s supply falls short of what is needed to transform the energy sector. That’s because there’s a relatively high geographical concentration of the production of many energy transition elements.

Norwegian Energy Minister Terje Aasland told CNBC last month that the government’s decision to move forward with deep-sea mining marked a necessary step into the unknown that could help to break China’s and Russia’s rare earths dominance.

“We’re in a fairly desperate situation,” Lodge said, citing the IEA’s expectation that demand for critical minerals is set to increase rapidly in the coming years.

“We’re nowhere close to meeting those targets at the moment with current land-based reserves. Even with the rapidly increased production that’s taking place in countries like Indonesia, we’re still nowhere close,” he added. “And permitting times, for example, in North America, for a new mine are in the order of more than a decade so it is very difficult.”

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Finally! The Nissan LEAF has been reborn as a new 2026 crossover, and it has NACS! [Video]

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Finally! The Nissan LEAF has been reborn as a new 2026 crossover, and it has NACS! [Video]

After years of development and months of teasers, Nissan has officially launched a reimagined version of the LEAF as a 2026 model year crossover, set to hit dealerships later this year. We will always love the original LEAF, but this new model is sharp and includes some well overdue upgrades, including a NACS port and Plug & Charge capabilities.

It’s been over fifteen years since the original Nissan LEAF debuted as one of the world’s first viable, mass-market EVs. For nearly a decade, the LEAF was the best-selling plug-in EV in the world, before Tesla took over.

While the original hatchback LEAF will go down in history as one of the earliest successful BEV models, its market status in recent years has been repetitive, laughably archaic (CHAdeMO), albeit nostalgic. The last five or six model years of the Nissan LEAF have essentially been the same car, and the public has been petitioning for something new.

How could an automaker so ahead of the BEV curve in 2009 fall so far behind over the course of a decade? Nissan asked itself that same question and has since bounced back with the ARIYA, which has been in production since 2022, but what about a new LEAF?

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In the summer of 2023, Nissan confirmed a next-gen LEAF was in the works, set to arrive in 2024. If you look at your calendar, you’ll notice that it didn’t happen, but we’re closer than ever! Last year, Nissan began sunsetting LEAF production to make way for the new version.

Since January 2025, we have been following several camouflaged images of the reimagined LEAF in the wild before Nissan gave us a first official look in March. Earlier this month, Nissan shared even more details, including a timeline for the new BEV’s global debut.

Today, the third-generation Nissan LEAF has officially launched as a 2026 model, and it’s about as nice of an upgrade as we could have asked for.

Nissan’s new LEAF is set to hit dealers this fall

This morning, Nissan shared all the specifications for the four planned trims of the new 2026 LEAF (except pricing, sorry). There’s much to unpack here, so let’s dig right in.

For starters, the first thing you’ll notice, which we’ve already noted in the past, is that the 2026 LEAF has evolved from a compact hatchback to a (slightly) larger, family-friendly crossover SUV.

The new LEAF is marginally shorter in length than the second-generation model (173.4 inches vs. 176.4 inches), but it is about an inch wider and a similar height to its predecessor. So, arriving as a radically looking version of the LEAF without the hatchback, it will fill a similar footprint to the older models.

While the 2026 Nissan LEAF may be similar in size, most of the rest of the BEV has been significantly overhauled in the best ways. For example, the battery packs and electric motors have been bolstered to provide significantly better horsepower, charge rates, and range.

Here’s a quick breakdown of the standard configurations of the four initial LEAF trims in the new generation:

Nissan LEAF Trim Motor Battery Power Onboard Charger
S 130 kW 52 kWh 174 hp, 254 lb-ft torque 7.2 kW
S+ SV, PLATINUM+ 160 kW 75 kWh 214 hp, 261 lb-ft torque 7.2 kW

Nissan also shared initial range estimates for the new LEAF trims, except for the base-level S version. Note that the two versions of the 2025 LEAF offered ranges of 149 and 212 miles, respectively:

2026 Nissan LEAF Trim Est. Range
S TBD
S+ 303 miles
SV+ 288 miles
PLATINUM+ 259 miles

Even at its lowest range, the 2026 LEAF can go significantly farther than the previous generation. Better yet, it will be A LOT easier when future owners need to recharge. Yes, Nissan has finally abandoned the long-defunct CHAdeMO port and has replaced it with not one, but two more modern options.

A J1772 port is present on the driver’s side fender for Level 1 and 2 charging, while a North American Charging Standard (NACS) is on the passenger’s side fender, giving drivers access to Tesla’s massive Supercharger network. Per Nissan, the new LEAF models can recharge from 10 to 80% in 35 minutes on a DCFC. 240V charge times remain “TBD.”

The new models also have “Plug & Charge” capabilities.

Moving inward, the 2026 LEAF looks like an entirely new vehicle designed for the modern driver. The two higher-end trims come with dual 14.3-inch dash displays with Google built-in. The two lower trims have dual 12.3 inch displays and all support Apple CarPlay and Android Auto.

Nissan also shared that the cabin has an upgradable dimming panoramic roof—a first for its segment, according to the automaker. The crossover’s cargo area is 55.5 cubic feet behind the second-row seats when they’re folded (20 cubic feet when they’re upright).

Additionally, the new LEAF’s PLATINUM+ trim has 64-color ambient lighting that can be customized to set any mood in the cabin.

One key element we are missing from Nissan is the pricing of these new LEAF models. Those details should come sometime toward the end of summer, as the automaker has said the 2026 LEAF models should hit Nissan dealerships this fall.

While we await more details, be sure to check out Nissan’s b-roll footage of the new 2026 LEAF inside and out below:

Source: Nissan

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Suzuki reveals prices for its first EV, a twin to Toyota’s upcoming electric SUV

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Suzuki reveals prices for its first EV, a twin to Toyota's upcoming electric SUV

Suzuki revealed prices for its first EV, a twin to the upcoming Toyota Urban Cruiser. The e Vitarra will go on sale next month in an increasingly crowded market. Can it keep up with the Kia EV3 and other popular electric SUVs?

Suzuki announces prices for its first EV, built with Toyota

Ahead of sales, which are set to begin next month, Suzuki announced e Vitara prices this week, its first EV that will also serve as a twin to Toyota’s upcoming electric SUV.

The e Vitara will start at £29,999 ($40,500) with prices ranging up to £37,799 ($51,000) for the flagship “Ultra ALLGRIP-e 4WD” trim.

Sukuki’s first EV is available with two battery options: 49 kWh or 61 kWh, providing WLTP range of 346 km (215 miles) and 428 km (266 miles), respectively.

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Buyers can choose from “Motion” or “Ultra” grades, with single (2WD) and dual-motor (4WD) options. Suzuki developed the new four-wheel drive (4WD) ALLGRIP-e system specifically for the e Vitarra and is one of the few auto brands to offer an electric SUV with 4×4.

Suzuki-first-EV-Toyota-prices
Suzuki’s first EV, the e Vitara electric SUV (Source: Suzuki)

The e Vitara sits on a new dedicated “HEARTECT-e” EV platform, which houses the eAxle and lithium iron phosphate (LFP) batteries.

As part of a deepening alliance, Toyota will use Suzuki’s EV powertrain for its upcoming electric SUV, the Urban Cruiser (shown below in white). Toyota will launch the Urban Cruiser in the next few months, which will essentially be a rebadged e-Vitara.

The e Vitara measures 4,275 mm in length, 1,800 mm in width, and 1,635 mm in height, with a wheelbase of 2,700 mm. That’s about the size of Kia’s new EV3 at 4,300 mm in length, 1,850 mm in width, and 1,560 mm in height, with a wheelbase of 2,680 mm.

In the first quarter, the Kia EV3 was the best-selling retail EV and the fourth best-selling electric vehicle (including commercial EVs) in the UK.

Suzuki-first-EV-Toyota-interior
The interior of Suzuki’s first EV, the e Vitara (Source: Suzuki)

The EV3 starts at £33,005 ($42,500) in the UK. IT’s also available with two battery options: 58.3 kWh or 81.48 kWh. The former is good for a WLTP range of 430 km (270 miles), while the latter provides a range of 599 km (375 miles), respectively

Suzuki e Vitara trim OTR Pricing
49kWh Motion 2WD £29,999
61kWh Motion 2WD £32,999
61kWh Ultra 2WD £35,799
61kWh Motion ALLGRIP-e 4WD £34,999
61kWh Ultra ALLGRIP-e 4WD £37,799
Suzuki announces prices for its first EV, the e Vitara

Suzuki is offering a few discounts for early buyers, including 0% PCP for two years with a 20% deposit. With a deposit of £8,436 ($11,500), monthly payments for the 61 kWh Motion 2WD model would be £379 ($513).

If you order before September 30, Suzuki will give you a free Ohme home charger, plus 10,000 miles in home charging credit.

Can Suzuki’s new e Vitara keep pace with the Kia EV3 and other popular electric SUVs like the Hyundai Inster? Let us know your thoughts in the comments below.

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Tesla (TSLA) is sitting on so much inventory it has to take over parking lots all over the US

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Tesla (TSLA) is sitting on so much inventory it has to take over parking lots all over the US

Tesla (TSLA) is currently sitting on so much inventory in the US that it has to take over parking lots outside of its exciting delivery centers to act as “overflow lots.”

Over the last few weeks, there have been increased reports of Tesla vehicles spotted in parking lots not directly linked to Tesla retail, delivery, or service locations.

In Chesterfield near St. Louis, Missouri, Tesla has rented the parking lot of a partly demolished mall where it is parking hundreds of unsold cars, which its delivery location three miles away can’t hold.

This is what is known as an “overflow” lot to handle rising inventory levels. Tesla has been using a lot more of these this year amid demand problems.

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There was another Tesla overflow lot spotted in Farmington Hills, Michigan earlier this month that has been controversial. The lot was reportedly not coded for vehicle storage, and the city notified Tesla:

In this case, many vehicles were Cybertrucks, which Tesla is having a tough time selling. We previously reported that sales fell by half compared to last year despite bigger discounts, and Tesla had to throttle down production to avoid building even more inventory.

About 100 Cybertrucks were spotted in the Farmington Hills lot.

Similar Tesla overflow lots were also spotted in Nevada, Florida, and Ohio in recent months.

Tesla’s inventory in the United States can be difficult to track. Some sites track Tesla listings, but the automaker can sometimes post a single listing for multiple vehicles with the same configuration.

Nonetheless, the latest data points to Tesla inventory increasing over the last week, with a surge of Model 3 listings:

Tesla’s overall inventory is higher than it was at the same time last quarter.

Cybertruck inventory has decreased slightly as Tesla has reduced production, but the automaker is still holding over 3,000 unsold Cybertrucks.

Electrek’s Take

Tesla is now offering record-low lease prices and subsidized financing to move its vehicles in the US, and yet, it still has higher inventory this quarter than it did the last, with only two weeks left in the quarter.

This is a problem for Tesla because the US is its last market where things are not completely terrible.

Sales in Canada are now gone. Almost completely. Europe is down roughly 40% even with the new Model Y.

In China, Tesla is currently down approximately 3,000 units compared to Q1, despite having ramped up Model Y production, made all variants available, and offered 0% financing.

At this point, it looks like Tesla is going to deliver between 350,000 and 360,000 vehicles in Q2, despite the Wall Street analyst consensus still being at 410,000 vehicles.

That would be down a whopping 80,000 units compared to the same period last year, and this time, Tesla has no Model Y changeover to blame things on. All that amid surging EV sales globally.

Maybe Tesla shareholders start to wake up and realize that there’s a problem that needs fixing, but I wouldn’t bet on it.

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