With US President-Elect Trump reportedly planning to cut federal incentives, EV sales are expected to surge in November and December. Right now, major discounts are slashing upwards of $10,000 to $20,000 off some of the most popular EV models, but that could change in 2025.
EV sales are expected to surge with discounts on the line
According to Cox Automotive, “EV sales are expected to surge in November and December” ahead of Trump taking office.
“We may see an increase in electric vehicle (EV) and plug-in hybrid (PHEV) sales over the next few months as buyers move to take advantage of discounts that may disappear in 2025,” Charlie Chesbrough, senior economist at Cox Automotive, said.
A Reuters report earlier this month claimed Trump’s transition team was planning to kill off the $7,500 federal tax credit for clean car buyers.
Chesbrough explained that with fewer discounts on the line, buyers are expected to take advantage of them while they are still being offered, leading to “robust activity through the end of the year.”
In October, EV sales in the US reached a milestone. With another 106,155 units sold last month, over 1 million EVs have now been handed over to buyers.
(Source: Tesla)
EV lease deals are adding up
Higher incentives and discounts have helped fuel the growth. In Q3, EV incentives were over 12% of the vehicle’s average transaction price, much higher than the industry average of about 7%.
The $7,500 federal tax credit is the biggest factor behind the discounts. Although the credit is for EV purchases, a loophole enables automakers to pass it on through leasing.
2024 Ford F-150 Lightning Platinum Black (Source: Ford)
Combined with other offers like loyalty and conquest, lease discounts, and bonus cash, some EV discounts are reaching upwards of $10,000 to even $20,000.
For example, you can score up to $21,150 off the 2024 Acura ZDX luxury SUV with combined discount offers. Ford is also offering up to $17,500 off its F-150 Lightning pickup through an end-of-year promo. A few EVs are even available to lease for under $300 this month.
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2024 Nissan LEAF
$109
36
$2,529
$179
2024 Kia Niro EV
$169
24
$3,999
$336
2024 Kia EV6
$179
24
$3,999
$346
2024 VinFast VF 8
$199
36
$894
$244
2024 Hyundai IONIQ 5
$199
24
$3,999
$366
2024 Honda Prologue
$229
36
$1,299
$259
EVs for lease under $300 per month in November 2024
With the $7,500 credit, the 2025 Chevrolet Equinox EV can be bought for as little as $26,100. GM calls the new electric SUV “America’s most affordable 315+ mile range EV.”
2024 Honda Prologue Elite (Source: Honda)
Honda just extended its ultra-low $229 per month lease offer to 17 additional US states after introducing it in California last month. For a nearly $50,000 electric SUV, $229 per month (36 months, 10,000 miles per year) is a pretty good deal.
Ready to take advantage of the savings? The offers won’t last long. You can use our links below to find deals on popular EV models in your area.
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Hyundai’s new electric SUV, the IONIQ 9, looks like a beast as an off-roader. The IONIQ 9 off-road concept is more than up for the adventure with a few “BigTime” upgrades.
Meet the Hyundai IONIQ 9 off-road electric SUV concept
We knew Hyundai was up to something after an IONIQ 9 prototype was caught rocking a rugged new look earlier this month.
Although it was camouflaged, you could clearly see it had a lifted suspension, all-terrain tires, and other added features, suggesting an off-road variant was in the works.
Now, we are getting our first official look at the off-roader. Hyundai revealed the IONIQ 9 off-road concept for the first time ahead of the SEMA Show 2025.
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As we expected, the concept features a similar look to the prototype spotted earlier this month with a lifted suspension, all-terrain tires, and unique wheels. One thing we did not see was the custom auxiliary light bar on the roof.
Based on the range-topping IONIQ 9 Calligraphy, the off-roader delivers up to 422 horsepower and 516 lb-ft of torque with an AWD powertrain.
Hyundai is working with BigTime content creators, Jeremiah Burton and Zach Jobe, to bring the off-road electric SUV to life. The concept will be showcased in SEMA’s Future Tech Studio, a dedicated section at the event to emerging EV tech.
The off-road electric SUV is “more than up for the adventure,” Hyundai Motor North America’s marketing boss, Sean Gilpin, said after unveiling the concept for the first time.
Hyundai drew inspiration from “Bud,” its 1977-vintage cabover, to give the electric SUV a modern twist on the vintage classic.
The IONIQ 9 off-road concept will be showcased at the SEMA Show, starting on November 4. Check back next week for more photos and details.
Although Hyundai didn’t say, the rugged concept could hint that an IONIQ 9 XRT is in the works, similar to the IONIQ 5 XRT.
2026 Hyundai IONIQ 9 Model
EV Powertrain
Drivetrain
Driving Range (miles)
Starting Price (including destination fee)
IONIQ 9 RWD S
160-kW (215-HP) Electric Motor
Rear- Wheel Drive
335
$60,555
IONIQ 9 AWD SE
226.1 kW (303-HP) Dual Electric Motors
All-Wheel Drive
320
$64,365
IONIQ 9 AWD SEL
226.1-kW (303-HP) Dual Electric Motors
All-Wheel Drive
320
$67,920
IONIQ 9 AWD PERFORMANCE LIMITED
314.6-kW (422-HP) Dual Electric Motors
All-Wheel Drive
311
$72,850
IONIQ 9 AWD PERFORMANCE CALLIGRAPHY
314.6-kW (422-HP) Dual Electric Motors
All-Wheel Drive
311
$76,590
IONIQ 9 AWD PERFORMANCE CALLIGRAPHY DESIGN
314.6-kW (422-HP) Dual Electric Motors
All-Wheel Drive
311
$78,090
2026 Hyundai IONIQ 9 prices and driving range by trim (*including a $1,600 destination fee)
Given that the IONIQ 5 XRT starts at $55,400 in the US, sitting below the Limited AWD trim, the IONIQ 9 XRT would likely see a similar pricing structure. The current range-topping IONIQ 9 AWD Performance Calligraphy Design trim starts at $78,090.
Hyundai has the 2025 IONIQ 5 XRT listed for lease starting at just $379 per month right now with the 2026 models arriving. The 2026 model year is available to lease for $419 per month. Hyundai’s three-row IONIQ 9 is listed with monthly leases starting at $419.
Interested in test driving Hyundai’s electric SUVs for yourself? You can use our links below to find models in your area.
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Sam Altman, OpenAI CEO and Elon Musk’s rival in AI, has tried to cancel his Tesla Roadster reservation and get his $50,000 deposit refunded.
But it’s not as easy as it looks.
Tesla unveiled the next-generation Roadster in 2017. At the time, it took reservations with $50,000 and $250,000 deposits, depending on whether people wanted the Founders Series.
Tesla CEO Elon Musk said the new Roadster would enter production in 2020.
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It didn’t.
Every single year since, the CEO claimed that the vehicle would enter production the following year, but it never did. It has become a sort of running joke.
The fact that Tesla couldn’t bring the vehicle to production has led many reservation holders to cancel their reservations, a process that has reportedly been difficult.
Now Sam Altman is having a similar problem. He took to X to share that he wanted to cancel his Roadster reservation, but the reservation email was shut down:
The OpenAI CEO is a supercar enthusiast and revealed that he reserved the Roadster in 2018.
He said:
“I really was excited for the car! And I understand delays. But 7.5 years has felt like a long time to wait.”
TENWAYS, the e-bike brand known for its increasingly sleek and refined yet affordable city e-bikes, is shifting gears with the launch of its newest model – the Wayfarer. Debuting today, the Wayfarer blends city practicality with trail-ready capability, offering a 500W rear hub motor that peaks at 750W and a massive 85-mile (137 km) range.
From smooth city rides to off-road adventures
Tenways made its name back in the early days of the pandemic-era electric bike boom, coming off a successful crowdfunding campaign that introduced its first commuter model. That lightweight, belt-driven e-bike quickly won fans across Europe and helped launch the company’s path towards a growing product lineup. Since then, the company has grown a devoted following for its bikes that often featured torque sensors, Gates Carbon Belt Drives, and whisper-quiet powertrains.
But for the most part, the company has stuck with relatively modest power levels – at least, until today. With the Wayfarer, Tenways is taking its original formula and adding a lot more muscle.
The new Wayfarer is designed to handle city streets and light off-road terrain with equal ease. It’s powered by a 500W Bafang rear hub motor that can deliver up to 750W of peak output, giving it plenty of punch for hills, headwinds, and acceleration from stops. The intelligent sensor system automatically switches between torque and cadence sensing for smooth, natural-feeling power delivery, and a detachable throttle adds an extra burst of speed when needed.
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The top speed is set at 20 mph (32 km/h) is Class 2 compliant, but riders can unlock pedal-assist up to 28 mph (45 km/h) for Class 3 compliance.
Comfort that goes the distance
While power is a big part of the story, comfort is clearly the focus. The Wayfarer includes a wide, premium saddle that’s both supportive and plush, a suspension seatpost, and a front suspension fork to smooth out city potholes or gravel paths.
The step-through frame makes mounting and dismounting easy for all riders, and the adjustable stem lets riders dial in their perfect handlebar position. Together, these features make long rides – or even daily commutes – feel effortless.
A 720Wh removable battery built with high-performance 21700 cells provides up to 85 miles (137 km) of range per charge. It’s UL-certified and features advanced overcharge, discharge, and thermal protection for dependable performance and long life.
Smart features and all-weather readiness
Like most Tenways models, the Wayfarer comes loaded with tech. The Bafang LCD display includes a USB-C charging port for accessories and password protection, while the Tenways App lets riders track mileage, performance, and ride stats directly from their phone. A MIK-compatible rear carrier allows easy swapping of accessories for commuting or shopping, and Apple Find My integration adds peace of mind by letting owners locate their bike if it’s misplaced or stolen.
Safety has been given equal attention. The Wayfarer features hydraulic disc brakes, rear turn signals, and puncture-resistant Kenda tires with reflective sidewalls for visibility. The electrical system carries an IPX6 weatherproof rating, so you can ride confidently through rain and splashes. A throttle safety limiter also prevents accidental activation when the bike is stationary – something I haven’t seen on very many e-bikes before.
Priced at $2,199 USD (with an early-bird discount of $300 using code EARLYBIRD300), the Wayfarer continues Tenways’ mission of delivering premium design and technology at a more accessible price than many European rivals.
The company says every component is built to meet “top-tier standards,” and if the Wayfarer rides anything like Tenways’ earlier models, it’s likely to feel refined yet powerful – the best of both worlds.
Electrek’s Take
The Wayfarer sounds like the natural evolution of Tenways’ design philosophy: a clean, understated e-bike that finally packs the kind of performance and comfort riders have been asking for. It does look like it’s starting to get a bit heavier, but that comes with the territory when you start using bigger motors and batteries. Tenways was always known for lightweight bikes, so hopefully this still feels light.
The price puts it a couple steps higher than the typical budget e-bikes available in this class in the US, but it seems that Tenways is shoping that the brand’s legacy combined with the additional tech such as the location tracking, as well as the other app features, will help set things apart.
I’ll likely get a chance to review this one soon, so let me know in the comments what you’re specifically looking for, and I’ll try to address it when I get my hands on one. But based on my past experience with Tenways e-bikes being light and easy-riding commuters, I have high hopes for this one!
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