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Digital render of NEOM’s The Line project in Saudi Arabia

The Line, NEOM

In Saudi Arabia’s northwestern desert, a sprawling construction site replete with cranes and pile drivers sits encircled by a recently-built road. A pair of tracks cuts through the site like deep gashes through the sand, comprising the spine of what planners say will be a high-speed rail system.

The skeletal infrastructure forms the foundations of The Line, a multi-billion dollar high-tech city that its architects say will eventually house 9 million people between two 106-mile long glass skyscrapers more than 1,600 feet high.

The project, whose estimated cost is in the hundreds of billions, is just one of the hyper-futuristic venues planned in Neom, the brainchild of Saudi Crown Prince Mohammed bin Salman and a region that the kingdom hopes will bring millions of new residents to Saudi Arabia and revolutionize living and technology in the country. It’s a core pillar of Vision 2030, which aims to diversify the Saudi economy away from oil revenues and create new jobs and industries for its burgeoning young population.

The cost of Neom has been estimated to be as high as $1.5 trillion. In the years since it was announced, Saudi Arabia’s Public Investment Fund, the mammoth sovereign wealth fund now overseeing $925 billion in assets, has poured billions into overseas investments, with ever-increasing waves of foreign investors flying to the kingdom to raise cash.

This year, however, has seen a sharp change in direction in terms of spending, with a stated emphasis on keeping investments at home along with reports of cutting costs on megaprojects like those in Neom. The changes come as the Saudi deficit grows and the outlook for oil demand, along with global oil prices, sees sustained lows.

Construction for The Line project in Saudi Arabia’s NEOM, October 2024

Giles Pendleton, The Line at NEOM

That begs the question: does Saudi Arabia have enough money to meet its lofty goals? Or will it have to be more flexible to make its spending trajectory sustainable?

One Gulf-based financier with years of experience in the kingdom told CNBC: “The PIF’s pivot towards domestic investments, widely acknowledged but now officially admitted, suggests that there is still a lot of spending needed. Saudi Arabia has poured tens of billions into projects that have yet to hint of any financial returns.”

The financier spoke anonymously as they were not authorized to speak to the press.

Andrew Leber, a researcher at Tulane University who focuses on the political economy of the Middle East, believes that the current pace of spending won’t last.

“The number of ‘we pay up front and hope for economic returns later’ giga projects that are currently underway is not sustainable,” Leber said.

“With that being said,” he added, “the Saudi monarchy has shown itself to be somewhat flexible whenever economic realities assert themselves. I do think that eventually, a number of projects will be quietly shelved in order to bring its fiscal outlays back into greater sustainability.”

Digital render of NEOM’s The Line project in Saudi Arabia

The Line, NEOM

Saudi Arabia in October cut its growth forecasts and raised its budget deficit estimates for the fiscal years 2024 to 2026 as it expects a period of higher spending and lower projected oil revenues. Real gross domestic product is now expected to grow 0.8% this year, a dramatic drop from a previous estimate of 4.4%, according to the ministry of finance.  

The kingdom’s economy also swung dramatically from a budget surplus of $27.68 billion in 2022 to a deficit of $21.6 billion in 2023 as it ramped up public spending and decreased oil production due to its OPEC+ supply cut agreement. Its government forecasts a deficit of $21.1 billion for 2024, projecting revenue at $312.5 billion and expenditures at $333.5 billion.

Saudi authorities expect that the budget will remain in deficit for the next several years as it pursues its Vision 2030 plans, but they add that they are fully prepared for this.

Saudi Arabia's spending trajectory is sustainable, kingdom's finance minister says

“Our non-oil revenues have grown significantly, now it covers about 37% of expenditure. That’s a significant diversification, and that gives you a lot of comfort that you can maneuver and be stable despite the fluctuation in oil price,” Saudi Finance Minister Mohammed Al-Jadaan told CNBC in October. “Our aim is to make sure that our plans are stable and predictable.”

“We are not going to blink, we have significant fiscal resource under our disposal, and we are very disciplined in our fiscal position,” the minister said.

Saudi Arabia has an A/A-1 credit rating with a positive outlook from S&P Global Ratings and an A+ rating with a stable outlook from Fitch. That combined with high foreign currency reserves — $456.97 billion as of September, a 4% percent increase year-on-year, according to the country’s central bank — puts the kingdom in a comfortable place to manage a deficit, economists told CNBC.

Riyadh is successfully issuing bonds, tapping debt markets for more than $35 billion so far this year. The kingdom has also rolled out a series of reforms to boost and de-risk foreign investment and diversify revenue streams, which S&P Global said in September “will continue to improve Saudi Arabia’s economic resilience and wealth.”

When asked if the kingdom’s spending trajectory is sustainable, Al-Jadaan replied: “Absolutely, yes,” adding that the government recently published its numbers for the next three years and that “we think it is very sustainable.”

Still, many analysts outside the kingdom, as well as individuals working within the kingdom and on NEOM projects, are skeptical of the megaprojects’ feasibility. Reports that some projects have been dramatically cut down — in the case of the Line, its size target slashed from 106 miles to 1.5 miles and population target down from 1.5 million by 2030 to less than 300,000 — attest to that concern on a higher level.

We are at an interesting inflection point in Neom's journey, deputy CEO says

Neom executives acknowledge that the current phase of work on The Line is for a building length of 1.5 miles — which would still make it the longest building in the world. However, the eventual goal of 106 miles has not changed, they say, stressing that cities are not built overnight and that construction is continuing apace.

For Tarik Solomon, chairman emeritus at the American Chamber of Commerce in Saudi Arabia, “it’s promising to see transparency and some project cutbacks.”

“The Kingdom’s rising external borrowing reflects challenges with Vision 2030 feasibility,” he told CNBC.

“Though debt remains manageable at 26.5% of GDP, continued small pressures add up, underscoring the need for fiscal discipline and achievable goals.”

Solomon pointed to the desire of many Saudi residents for improvements to the infrastructure they use in their daily lives — like Riyadh’s public transport, network connectivity, schools, and health care.

“The road to resilience for Saudi Arabia isn’t in figuring out ski slopes in the desert but in building with innovation, complexity, and the courage to pursue what’s truly impactful,” he said.

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Environment

This Chinese EV has 300+ miles range, can swap batteries in 99 secs, and costs under $15,000

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2 hours ago

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November 5, 2025

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This Chinese EV has 300+ miles range, can swap batteries in 99 secs, and costs under ,000

Aion-UT-Super-99-sec-battery

How does a fully charged battery in under 100 seconds sound? China’s CATL, GAC Group, and JD.com revealed a battery-swappable version of the Aion UT that can swap batteries quicker than you can pump gas.

The Aion UT Super can swap EV batteries in 99 seconds

The new battery swap version looks about the same as the current Aion UT sold in China, but it’s equipped with CATL’s Choco-SEB battery packs.

CATL introduced the new battery packs in December that can be swapped for a fully charged one in under 100 seconds, making it just as fast as filling up a gas tank.

The new Aion UT Super draws power from a 54.036 kWh CATL LFP battery, providing a CLTC driving range of 500 km (310 miles). Drivers can swap, charge, or rent batteries at one of CATL’s Choco Battery Swap Stations. It also features a single electric motor with 134 horsepower (100 kW).

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Measuring 4,270 mm in length, 1,850 mm in width, and 1,575 mm in height, with a wheelbase of 2,750 mm, the electric hatch is about the size of the Volkswagen ID.3.

Chinese-EV-99-battery-swap
Chinese-EV-99-battery-swap

Don’t feel like swapping? The electric hatchback can still recharge from 30% to 80% in 26 minutes, the company said.

Inside, the setup is relatively simple, with a floating infotainment screen at the center and a smaller driver display cluster.

Chinese-EV-99-battery-swap
Chinese-EV-99-battery-swap

The new Aion UT Super will be sold exclusively on JD.com, also known as the “Chinese Amazon.” GAC opened blind pre-orders on Wednesday ahead of its official launch next week during the 11.11 shopping festival, China’s largest shopping event.

According to CarNewsChina, prices for the swappable Aion UT Super are expected to range from 100,000 yuan ($14,000) to 120,000 yuan ($16,800).

The Aion UT Super joins other Chinese EVs, including the Changan Oshan 520, that are rolling out with CATL’s 99 second swappable batteries. Several major brands in China, including GAC, Chery, NIO, FAW, and BAIC, are partnering with CATL to launch vehicles using its Choco-SEB batteries.


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Anker SOLIX early Black Friday Doorbusters with up to $3,599 savings, exclusive new lows on EcoFlow and Jackery power stations, more

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3 hours ago

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November 5, 2025

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Anker SOLIX early Black Friday Doorbusters with up to ,599 savings, exclusive new lows on EcoFlow and Jackery power stations, more


Today’s Green Deals are jam-packed with returning and new low prices on power stations, headlined by Anker’s SOLIX early Black Friday doorbusters that are taking up to $3,599 off a selection of units, including the F3000 Portable Power Station at its $1,399 low. From there, we have up to $2,779 in exclusive savings on the EcoFlow DELTA Pro Ultra and DELTA 3 Ultra power stations at new low prices starting from $949, as well as up to $1,650 exclusive savings on Jackery’s Explorer 3000 V2 and 2000 V2 power stations at new lows starting from $599. There’s also the annual low on an AeroGarden indoor hydroponic system, BougeRV’s 200-pound carrying bike/e-bike rack, and more waiting for you below. And don’t forget about the hangover deals that are collected together at the bottom of the page, like yesterday’s EcoFlow early Black Friday Sale with up to 80% discounts, the exclusive new low prices on eight Mammotion robot lawn mowers, 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.

Save up to $3,599 on a selection of Anker SOLIX early Black Friday power station doorbusters starting from $449

Anker SOLIX has launched its early Black Friday doorbuster promotions through the rest of the week, with a select collection of power stations getting up to 65% early-access discounts ahead of the full sale’s launch. One notable inclusion here is Anker’s new SOLIX F3000 Portable Power Station dropping back to $1,399 shipped, beating out Amazon’s pricing by $100. Since hitting the market in June, this newer unit has carried a $2,599 full price tag outside of sales/discounts, with this all-time low having first appeared during last month’s Prime Day event and then repeating during the brand’s previous Halloween Sale. With these Anker SOLIX Black Friday Doorbuster deals, the all-time low is coming back around to provide $1,200 in savings so you can upgrade your backup support at the best price we have tracked. Head below for the full lineup of doorbusters ahead of the rush.

The Anker SOLIX F3000 power station is a great choice for folks who want more bolstered backup power support for campsites, tailgates, road trips, and even at-home emergencies – especially when considering its passthrough charging capabilities when connected to a gas generator. You’ll gain a sizeable 3,072Wh starting LiFePO4 capacity that can be further built up to 24kWh with additional add-on equipment.

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Through its 11 output ports (including a TT-30R port to cover RV needs) your devices and appliances will receive up to 3,600W of steady power. Alongside the new gas generator option to recharge while providing power elsewhere, you also have the options for a standard AC outlet or utilizing up to 2,400W of solar input.

Anker SOLIX early Black Friday doorbusters:

You can also browse these Anker SOLIX early Black Friday Doorbusters on the main landing page here.

ecoflow's DELTA Pro Ultra power station connected to solar panels in yard

EcoFlow’s DELTA Pro Ultra and DELTA 3 Ultra power stations get up to $2,779 exclusive savings to new lows from $949

We’ve secured some exclusive savings from Wellbots on two EcoFlow units that give you new low prices, like the largest DELTA Pro Ultra Whole-Home Backup Power Station coming with a FREE 400W solar panel at $3,599 shipped, after using the code 10BF9TO5 at checkout. While this station carries a $6,098 MSRP directly from the brand, it’s coming down at Wellbots from a $5,799 full price, with discounts having seen the price taken as low as $3,999 from EcoFlow and Amazon, while a previous exclusive deal back from April saw it go further to $3,799. Today’s exclusive deal drops costs further than we’ve tracked before, giving you a $2,200 price cut on the station alongside the $579 value of the free solar panel for a new all-time low price and $2,779 in total savings. You’ll also find the brand’s newest DELTA 3 Ultra Portable Power Station hitting a new low of $949 shipped, after using the exclusive code 150BF9TO5 at checkout. Head below to learn more about these two backup power solutions.

If you want to learn more about these two power stations, be sure to check out our original coverage of these exclusive deals here. We also have two other ongoing EcoFlow exclusive deals at their best rates ever, with the DELTA Pro power station down at a new $1,159 low, while the DELTA 2 Max power station gets a FREE Solar Hat at a new $749 low.

woman powering refrigerator with Jackery explorer 3000 v2 power station

Save up to $1,650 on Jackery’s Explorer 3000 V2 and 2000 V2 power stations at exclusive new lows from $599

Right alongside the pair of exclusive EcoFlow power station deals we secured, Wellbots is also giving 9to5Toys readers exclusive new low prices on two Jackery power stations, including the newer Explorer 3000 V2 (AKA the HomePower 3000) Portable Power Station at $849 shipped, after using the exclusive code 150POWER9TO5 at checkout, with a separate hangover exclusive low price to pick it up with two 200W solar panels. It may carry a $2,499 MSRP since its release in May, but we’ve regularly seen discounts taking this station down between $1,699 and $1,499 in the time since, with Prime Day giving us a drop lower to $999, which is where the savings start here today. Using the exclusive code, you’ll be scoring a total $1,650 in savings off the MSRP that beats out all deals we’ve seen before, dropping things to a new all-time low price. There’s also the Jackery Explorer 2000 V2 Portable Power Station that is dropping to a new low of $599 shipped, after using the exclusive code 200POWER9TO5 at checkout. Head below to learn more about these backup power solutions.

If you want to learn more about these power stations, be sure to check out our original coverage of these exclusive deals here.

aerogarden's Harvest Elite 360 indoor garden sitting on kitchen counter with ingredients

Have fresh herbs in reach with this AeroGarden Harvest Elite 360 indoor hydroponic kit at a $100 annual low

Amazon is offering the AeroGarden Harvest Elite 360 Indoor Garden Hydroponic System at $99.99 shipped. It’s coming down off its $125 full price here, with discounts having taken the costs as low as $100 over 2025 when it’s not in and out of availability at Amazon. While we have seen it go lower in past years, the deal here still gives you a solid 20% markdown that cuts $25 off the tag, giving you the best price that we have tracked over the year while providing your kitchen with a handy means to grow your favorite herbs. Head below to learn more about this gadget and some alternate devices from the brand that are also seeing discounts.

If you want to learn more about this handy kitchen gadget, be sure to check out our original coverage of this deal here.

BougeRV's 2-inch e-bike rack hitch attached to SUV with two e-bikes travelling down road

This BougeRV rack attaches to your vehicle to carry up to 200 pounds of e-bikes with a tilting feature at its $300 low

Coming back to us through the official BougeRV Amazon storefront, you can pick up the 2-inch e-bike Rack Hitch with Ramp at $299.99 shipped for the second time that we have tracked. It carries a $500 MSRP, but has been hanging down at $450 since late October, which was also when we last saw the price drop down to this all-time low rate. You’re getting a second chance at this $200 total markdown here, which comes in just $16 above the current pricing of its e-bike-compatible variant that only sports a 150-pound payload over this model’s 200-pound payload.

If you want to learn more about this bike carrier, be sure to check out our original coverage of this deal here.

Best Fall 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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Trump nuclear power investment in Westinghouse could lead to IPO with U.S. government as shareholder

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4 hours ago

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November 5, 2025

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Trump nuclear power investment in Westinghouse could lead to IPO with U.S. government as shareholder

The Vogtle nuclear power plant is located in Burke County, near Waynesboro, Georgia in USA. Each of the two existing units have a Westinghouse pressurized water reactor (PWR), with a General Electric turbine and electric generator, producing approximately 2,400 MW of electricity. Two Westinghouse made AP 1000 reactors are under construction here.

Pallava Bagla | Corbis News | Getty Images

The Trump administration’s plan to spend tens of billions of dollars on Westinghouse nuclear plants could transform it into an independent, publicly traded company with the U.S. government as a major shareholder.

The Commerce Department signed a deal last week with Westinghouse owners Cameco and Brookfield Asset Management to spend $80 billion to build the company’s nuclear plants across the U.S.

Under the deal, the U.S. government is granted a participation interest in Westinghouse and can require an initial public offering on or before January 2029 if the company’s value surges to $30 billion or more.

The government could become an 8% shareholder in Westinghouse under this scenario, said Cameco Chief Operating Officer Grant Isaac on the company’s third-quarter earnings call Wednesday. It is not entitled to a stake in Cameco or Brookfield under the deal, Isaac said.

Cameco would consider spinning out Westinghouse as an independent company in 2029 depending on the circumstances, the executive said.

“There is definitely a unique interest in investing just in Westinghouse,” Isaac said. “Cameco is a funny proxy for that. Brookfield’s probably an even funnier proxy to invest in just Westinghouse.”

Cameco is one of the largest uranium miners in the world and Brookfield is one of the biggest investors in energy generation.

“We’re going to keep all options on the table,” Isaac said. “This partnership agreement does not force us to leave Westinghouse in 2029. We don’t have to sell any of our share — or we may if the value of Westinghouse is so significant come 2029 when that window opens up.”

U.S. government financing

The government’s interest in Westinghouse vests only if it makes a final investment decision with definitive agreements to build new reactors in the U.S. with a total value of $80 billion.

The U.S. could use tools like Department of Energy loans or financing from “other jurisdictions” to finance the projects among other options, Isaac said.

“We’re assured that there is a lot of interest in investing this minimum $80 billion in order to begin the process,” the executive said.

Westinghouse has designed a big modern nuclear reactor called the AP1000 that the Trump administration wants to deploy across the U.S. to meet rising electricity demand from data centers and manufacturing. It generates a gigawatt of electricity, which is enough power for more than 750,000 homes.

President Donald Trump signed an executive order in May that called for the U.S. to start construction on 10 large new nuclear reactors by 2030. Westinghouse CEO Dan Sumner said in July that the company would meet Trump’s call with the AP1000.

But Westinghouse has struggled in the past to deliver the AP1000 on time and on budget. It went bankrupt in 2017 from cost overruns at big nuclear projects in Georgia and South Carolina.

The first two AP1000 reactors in the U.S. came online at Plant Vogtle in Georgia in 2023 and 2024 but the South Carolina project was canceled.

Westinghouse was bought by Brookfield and Cameco in 2023, five years after it emerged from bankruptcy. Brookfield has a 51% stake in Westinghouse and Cameco owns 49% of it.

The nuclear industry needs a big order of reactors to stimulate the market and supply chains, Isaac said. The U.S. government is serving that role, the executive said.

“What the U.S. government has done is committed to step in and be that stimulant if you will, their commitment is to facilitate the financing,” he said.

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