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Tesla reportedly supports the Trump administration’s plan to kill the $7,500 federal tax credit for electric vehicles – something in direct contradiction to Tesla’s original mission to accelerate the entire industry’s transition to electric transport.

Elon Musk, who has both financed and “fully endorsed” Donald Trump, has walked back much of his prior messaging around the need to accelerate the transport and energy sector’s transition to sustainability to address climate change.

In fact, during Trump’s prior administration, Musk was part of his “business council”, but he resigned after Trump pulled the US out of the Paris climate agreement.

Musk has now made it clear that he believes the “woke mind virus” is a bigger threat to humanity than climate change.

The CEO even supported Trump when he said he plans to remove the $7,500 tax credit for electric vehicles once he is back in power. That’s despite Tesla having lobbied for the credit. The incentive has been supporting Tesla’s sales in the US over the last few years.

Musk even laid out a scenario where removing the tax credit would hurt Tesla, but he believes it would hurt other automakers more – removing some of the competition. That’s a direct contradiction to what Musk has said many times in the past, which is to encourage the entire auto industry to go electric.

Even more recently, the CEO has complained that the main problem with EV adoption is the cost being to high – something that the tax credit is directly addressing in the US.

Tesla now supports removing the tax credit

These days, it’s hard to separate Musk and Tesla. Even though he is technically only CEO and minority shareholder, it is widely believed that he controls the board, and, therefore, he is able to do anything unchecked at Tesla.

This is actually what led to the judge’s decision in his CEO compensation case earlier this year.

Now, Musk’s position on the tax credit that Tesla lobbied hard for is also Tesla’s position.

According to a new Reuters report, Trump’s transition team is reportedly already strategizing about how to remove the EV tax credit:

President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.

The report states the energy transition team is led by Harold Hamm, an oil billionaire, but that they have consulted with Tesla, which is reportedly backing the move:

Ending the tax credit could have grave implications for an already stalling U.S. EV transition. And yet representatives of Tesla – by far the nation’s largest EV seller – have told a Trump-transition committee they support ending the subsidy, said the two sources, who spoke on condition of anonymity.

The Trump administration would have to get Congress’s approval to remove the EV incentive.

Electrek’s Take

Like I wrote in my post about selling my Tesla position, the main reason I can’t be involved with Tesla anymore is that it is moving away from its mission.

There’s no better example than this.

Elon is willing to slow down the entire US EV industry as long as Tesla can come out on top in the next few years.

A source familiar with Tesla’s policy team suggested that it could be a negotiating strategy. Tesla may know it can’t save the tax credit so it is agreeing with Trump in order to have a bit more credibility on other matters, like the battery production credits that Tesla has been enjoying under Biden’s IRA.

But that could be a stretch, and in my opinion, it is not worth supporting something that will undoubtedly result in lower EV sales in the US, a country already way behind the rest of the world in EV adoption.

Also, it’s fair to note that this move should help Tesla in Q4 as the threat of removing the tax credit is resulted in surges in sales in the past to take advantage of it before it goes away.

It comes as Tesla is trying to achieve record sales in Q4 in order not to be down in deliveries for the entire year.

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Honda’s new super low-cost electric motorcycle could come at the perfect time

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Honda’s new super low-cost electric motorcycle could come at the perfect time

Earlier this week, we covered Honda’s new patent images that revealed what looks to be a production-ready, ultra-low-cost electric motorcycle from the world’s most prolific motorcycle maker. While the company hasn’t officially announced plans to bring the bike to market, the level of detail in the patent suggests one thing loud and clear: Honda’s electric commuter is no longer just a concept – it’s waiting on a green light from the boardroom. And if they’re still debating giving it the thumbs up or down, then now would be the perfect time to make everyone’s day and release this thing to the world.

To be fair, we don’t really know what the bike would look like since we only have the technical drawings in the patent that showcase an electric motorcycle built on the frame of a Honda Shine 100, the company’s smash-hit 99cc commuter bike that has proven incredibly popular in India.

The images above and below show an AI interpretation of how the electric version could look, taking the technical drawings of the bike from the patent and applying styling similar to the Shine 100. But if this is any indication, it could slot nicely into Honda’s lineup.

A perfect storm of demand and opportunity

Right now, the market is crying out for a product like this. Two-wheel electric transport is booming globally, especially in regions where motorcycles are used not for weekend rides or fun, but as core transportation for everyday life. In developing countries like India, Indonesia, and throughout Southeast Asia and Africa, affordable motorcycles are the backbone of personal mobility. And as battery prices continue to fall and gas prices remain unpredictable, electric is becoming the obvious next step.

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Even in the US, which has been one of the slowest markets in the world to adopt electric two-wheelers, there are literal roving gangs of teenagers on light electric motorcycles. If that doesn’t underscore how far electric motorcycles have penetrated, nothing will. Even Americans are buying them.

But of course, the US isn’t the main market, and Honda seems to know that. The company’s yet-unnamed electric model from its patent appears to be designed as a direct electric counterpart to the Shine 100, that wildly popular gasoline-powered commuter bike that has dominated the budget end of the market in India. The Shine 100 is known for its simple, reliable design, ultra-low price, and frugal fuel economy. Now imagine replacing the gas tank with a battery pack, swapping out the engine for a hub motor, and cutting fuel and maintenance costs almost to zero. That’s exactly what this new bike looks poised to do.

Honda patent images show a fully-developed electric version of a Shine 100 motorcycle

The specs we don’t know… yet

We don’t have confirmed specs from Honda, but the design and architecture give us some important clues. The motor appears to be a small, centrally mounted unit similar in size to those seen on Sur Ron-style electric motorbikes, likely in the 5-6 kW range, which would likely put top speed somewhere in the ballpark of 50 to 55 mph (80–90 km/h). That’s fast enough for city and suburban riding, especially in developing nations where highway use is less common and speed limits are lower.

The battery appears to be designed as a pair of removable, under-seat packs that look quite similar to the Honda Mobile Power Pack standard. We can’t say for sure yet, but it would make sense for Honda to apply that standard to the new motorcycle, especially since the company has already invested in the early stages of building up a swapping network for these batteries in India.

A Honda Mobile Power Pack-powered electric Rickshaw in India

The battery packs’ removable nature is key for markets where most riders don’t have access to ground-level charging. Removable batteries mean that the bike can be left parked on the street, with only the batteries being carried into a home or apartment for charging.

Sure, removable batteries limit the range by necessitating something light enough to be feasibly carried by the average rider. But let’s be clear: this isn’t going to be a Zero or a LiveWire. It’s a small, simple, commuter-focused machine. And that’s exactly what makes it so exciting.

A massive opportunity in plain sight

While companies like Ola, Ather, and Hero Electric have already entered India’s electric two-wheeler market, Honda still has massive brand recognition and an extensive dealership and service network. If the company moves quickly, it can leverage that footprint to immediately scale electric sales where it matters most.

And this isn’t just about India.

With a few tweaks, like ensuring compliance with region-specific lighting rules and adding a few basic safety features, Honda could easily bring a version of this bike into Europe, where cities are increasingly banning internal combustion vehicles and where small-format urban mobility is booming. Even in North America, there’s a growing appetite for affordable electric motorcycles. Sure, a 50 mph top speed limits highway use, but for many urban commuters and students, that’s more than enough. It may have scooter performance, but it sure looks cooler than a scooter.

We’ve already seen Chinese brands dipping their toes into this space, offering ultra-low-cost commuter bikes and scooters with modest specs. The difference is that those bikes are often plagued by weak support networks, sketchy build quality, and limited availability of parts. Honda could change the game here, bringing name-brand reliability and global support to the affordable electric motorcycle segment.

What’s stopping them?

And yet, despite all of its promise, the bike in these drawings remains just a patent on paper, at least for now.

It’s pretty clear from the drawings that this is a production-ready design, especially compared to much more basic designs patented by Honda in years past. The detailed component layout, integrated electronics, and finalized styling suggest that Honda could start prepping an assembly line for this thing tomorrow. All it needs is a go-ahead from Honda’s executive team.

Of course, large companies move slowly. There are internal projections to review, factories to retool, and business cases to make. But given Honda’s prior commitments to electrify its motorcycle lineup and its stated goals to phase out ICE motorcycles by the 2040s, the company needs to start moving products like this from blueprint to showroom floor yesterday.

Honda has the global reputation, the dealer network, and the engineering muscle to absolutely dominate the entry-level electric motorcycle segment. But it has to want to.

This new low-cost e-moto is exactly the kind of product that could move the needle, not just in emissions reductions or electrification goals, but in making EVs more accessible to millions of riders who need practical, affordable transportation today.

The demand is real. The market is ready. The design is done.

Now all we need is for Honda to say: “Let’s build it.”

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EU lowers price cap for Russian crude under new sanctions package

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EU lowers price cap for Russian crude under new sanctions package

Aerial view of a ship at sea.

Suriyapong Thongsawang | Moment | Getty Images

The European Union has reached an agreement on a new sanctions package against Russia, which includes a lower price cap for Moscow’s crude oil barrels.

Within a year of Russia’s 2022 invasion of Ukraine, the G7 and EU restricted the price at which non-G7 countries could continue purchasing Moscow’s crude and oil products while using shipping and logistical services from G7 companies.

The measures aimed to limit Russia’s oil revenues — the backbone of its economy and war coffers — while retaining the country’s supplies in the market to avoid a major shortage.

The price cap agreed in December 2022 banned access to G7 transport, insurance and reinsurance services if non-G7 buyers paid more than $60 per barrel for crude. Formerly a staple of European refiners’ intake, Russian crude now primarily heads to buyers in China and India.

EU policymakers on Friday signaled the Russian oil price threshold would be lowered as part of a newly agreed sanctions package.

“I welcome the agreement on our 18th sanctions package against Russia. We are striking at the heart of Russia’s war machine. Targeting its banking, energy and military-industrial sectors and including a new dynamic oil price cap,” EU Commission President Ursula von der Leyen said on social media.

The EU’s top diplomat Kaja Kallas concurred that a “lower oil price cap” was part of the freshly agreed measures, also noting that the bloc had, for the first time, sanctioned Russian oil producer Rosneft’s largest refinery in India.

Neither official explicitly named the level of the new price cap. CNBC has reached out to Canada, holder of the G7’s yearly rotating presidency in 2025, for comment on whether the group endorses the lowered threshold.

— CNBC’s Silvia Amaro contributed to this report.

This developing story is being updated.

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Thousands of super cheap Amazon & Walmart e-bikes recalled after fires

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Thousands of super cheap Amazon & Walmart e-bikes recalled after fires

VIVI e-bikes, a budget-friendly brand commonly found on Amazon and Walmart, just got hit with a major recall affecting around 24,000 electric bicycles due to fire risks. The US Consumer Product Safety Commission (CPSC) announced that the lithium-ion batteries included with VIVI e-bikes can overheat, catch fire, and potentially cause injury or death.

According to the recall notice, VIVI has received at least 14 reports of their e-bike batteries overheating, with at least three reports of the batteries catching fire, though fortunately no injuries were reported in the recall notice.

The faulty batteries were shipped with a range of VIVI electric bikes sold between December 2020 and November 2023, priced between $365 and $950.

That puts them among the cheapest full-size e-bikes on the market.

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The affected bikes include long list of VIVI models, with the complete found here and seen in the table below.

The e-bikes were most commonly available online through Walmart.com and Amazon.com, but were also sold on eBay.com, Wish.com, Sears.com, Wayfair.com, Aliexpress.com, and the company’s own site (viviebikes.com).

Riders who purchased a VIVI e-bike are encouraged to check their model immediately to see if it matches the list of recalled e-bikes or battery packs.

The problem stems from the lithium-ion battery packs, which were not certified to UL standards, which are the most common safety standards for e-bikes in the US.

Consumers are being told to stop using the bikes immediately and contact VIVI for a free replacement battery. According to the recall notice, “Consumers should immediately stop using e-bikes with the recalled lithium-ion batteries and contact VIVI to receive a free replacement battery and battery charger. Consumers must dispose of the recalled battery at a household hazardous waste (HHW) collection center or follow the instructions of their municipality and confirm that this was done by sending an email to vivirecall@163.com.”

This recall adds to growing concerns about the safety of low-cost e-bikes flooding online marketplaces. While affordability has helped e-bikes become more accessible, it’s also opened the door to corners being cut, particularly when it comes to the batteries, which are arguably the most dangerous component of any electric vehicle when poorly made.

On the other hand, the increase in UL certification in the US e-bike industry has led to higher consumer confidence among respected e-bike brands that prominently display their safety certifications. This practice has helped assuage consumers’ fears and serves as a reminder of why these safety certifications are so important.

Electrek’s Take

Here we go again – another Amazon e-bike brand that was selling what looks like a too-good-to-be-true electric bike with a questionable battery. And surprise: it catches fire.

Now I want to make sure we keep this in perspective here, because the story isn’t that e-bikes are dangerous. Even among these ultra-super-duper-extremely cheap e-bikes, there have been 14 overheating cases and three reported fires out of 24,000 e-bikes sold. So it’s not like batteries are cooking off left and right like meth labs in Arkansas here or something. But this is still a stark reminder of the risks of purchasing bargain-basement electric bikes. In fact, just a couple of weeks ago, I wrote a piece about the hidden risks of the cheapest e-bikes, and this issue was front and center.

In this case, these VIVI e-bikes are just some of the many aggressively priced models on Amazon, and that’s always a red flag when it comes to lithium-ion safety. At Electrek, we’ve said it before and we’ll keep saying it: cheap batteries are risky batteries. UL certification isn’t legally required in most places (yet), but if a company isn’t willing to invest in the most basic safety testing, it should raise alarm bells.

If you’re hunting for a budget e-bike, stick to brands that at least use name-brand cells (like Samsung, LG, or Panasonic) and ideally have UL certification. Otherwise, you’re not just gambling with performance, you’re gambling with your garage, your home, your apartment building, and potentially the lives of your family and neighbors.

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