It’s taken a while, but most Americans have finally come to realize that the new tariffs imposed on imported goods are in fact paid by US companies, not the countries where they are manufactured. What many still don’t realize, though, is how those same tariffs are actually crushing the American manufacturing they were ostensibly designed to promote.
It might sound counterintuitive. Even if misguided, the Trump administration’s tariffs are intended to encourage manufacturing in the US instead of sending those manufacturing jobs overseas.
The problem is that the tariffs often have the exact opposite effect. Take the nascent electric moped and light e-motorcycle manufacturing industry in the US, for example. Such 30-40 mph (48-64 km/h) electric mopeds offer street-legal rides that are significantly more affordable than larger motorcycles. These light electric motorbikes and e-mopeds are easier to produce than larger flagship street bikes, but still require specialized skills and significant investment in manufacturing capabilities.
Companies like Spark Cycleworks in Cincinnati, Ohio, have spent years making those investments, helping the company produce nearly 600 electric mopeds in its small US-based factory. However, despite building its vehicles in the US with American labor, the company is still feeling the crushing weight of tariffs that threaten its future.
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The problem is that despite manufacturing occurring in the US, there is no domestic supply chain for many of the materials used in the mopeds.
Components like batteries, controllers, motors, and other critical parts are all produced in Asia – many of them in China. Spark Cycleworks Matt Schell explained that there’s simply no alternative and that such components are a huge part of the cost of production.
“Those components make about 50% of the cost of producing that bike and there’s no other option,” said Schell. “I’ve got nowhere else to go. I have to account for the tariffs on those parts.”
One of his last containers was hit with higher 45% tariffs after the initial wave of Trump tariffs, and the next container with his batteries will now see 145% tariffs.
While some might suggest that US manufacturers should just switch to producing components like battery packs locally, even these components are made with imported subcomponents.
“There are no domestic options for our motors, our controllers, and our batteries. We can make batteries by hand in the US, but all of those cells are going to be imported. So it doesn’t matter if we make the batteries here, they’re still going to get that tariff,” Schell added.
Spark Cycleworks’ electric mopeds were previously priced at around US $4,500 but Schell says that the new tariffs will force the price up to around $7,000. With that pricing uncertainty scaring off consumers, the company hasn’t sold a single bike in around five weeks.
After cutting prices on its top-selling electric vehicle by nearly $10,000 in the US, Hyundai is now bringing the savings to new markets. Hyundai is offering discounts of over $34,000 on some of its EVs overseas.
Hyundai is discounting EVs in the US and overseas
Last week, Hyundai announced it was reducing prices on the 2026 IONIQ 5 by up to $9,800 in the US. The 2026 IONIQ 5 starts at just $35,000, making it one of the most affordable EVs available alongside the Chevy Equinox EV and the Nissan LEAF.
Hyundai said the generous EV discounts reflected its “commitment to affordability” as part of its long-term strategy.
Record vehicle sales and higher output at its new EV plant in Georgia are helping reduce costs, which the company said it’s now passing on to buyers.
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The massive EV discounts are starting to pile up after Hyundai cut prices in another market on Tuesday. After launching a series of special offers in Australia on Tuesday, Hyundai is discounting some of its EVs by more than $34,000.
The Hyundai Kona Electric (Source: Hyundai Australia)
According to TheDriven, Hyundai reduced prices on select IONIQ 5, IONIQ 6, Inster EV, and Kona Electric models by up to $34,142.
Hyundai’s most affordable electric car, the Inster (which is sadly not sold in the US), received a $3,925 price reduction, and now starts at under $40,000 for the first time.
The Hyundai Inster EV (Source: Hyundai)
The IONIQ 6 is heavily discounted, with up to $34,142 off the driveway price on 2023 model year inventory. Hyundai has also reduced the prices of the IONIQ 5 by nearly $10,000. As the report points out, the savings are based on the driveway prices in NSW, which are available nationally.
2025 Hyundai IONIQ 5 (Source: Hyundai)
Although Hyundai’s price cuts in the US were in response to the $7,500 federal EV tax credit expiring, the discounts in Australia come as demand for electric cars is at an all-time high. In September, electric vehicles accounted for 11.3% of new car sales.
In the US, Hyundai is still offering a $7,500 cash incentive for 2025 IONIQ 5 models until at least the end of October.
2025 Hyundai IONIQ 5 Trim
Driving Range (miles)
2025 Starting Price
2026 Starting Price*
Price Reduction
Monthly lease cost (October 2025)
IONIQ 5 SE RWD Standard Range
245
$42,600
$35,000
($7,600)
$249
IONIQ 5 SE RWD
318
$46,650
$37,500
($9,150)
$259
IONIQ 5 SEL RWD
318
$49,600
$39,800
($9,800)
$299
IONIQ 5 Limited RWD
318
$54,300
$45,075
($9,225)
$369
IONIQ 5 SE Dual Motor AWD
290
$50,150
$41,000
($9,150)
$309
IONIQ 5 SEL Dual Motor AWD
290
$53,100
$43,300
($9,800)
$349
IONIQ 5 XRT Dual Motor AWD
259
$55,500
$46,275
($9,225)
$379
IONIQ 5 Limited Dual Motor AWD
269
$58,200
$48,975
($9,225)
$419
2025 vs 2026 Hyundai IONIQ 5 prices and range by trim
The 2025 Hyundai IONIQ 5 Standard Range starts at $42,600, while the 2026 model year is priced from just $35,000.
Although it was already one of the most affordable EVs on the market, the IONIQ 5 is hard to pass up with leases starting at just $249 per month in the US. For $10 more per month ($259), you can upgrade to the long-range SE RWD trim, which offers a range of up to 318 miles.
Since its launch in 2024, ComEd’s Beneficial Electrification (BE) Plan has supported the deployment of more than 7,200 electric vehicle charging ports and over 2,200 EVs registered to business and public sector commercial customers.
“Reducing emissions from vehicles is one of the most effective and important things we can do to improve air quality and public health,” explains Rob Anderson, President and CEO of Respiratory Health Association. “As we have seen the ending of federal funding support for this effort, ComEd’s continued commitment of transportation electrification rebates is leading the way for our shared goal of eliminating pollution and creating cleaner air for all of our communities across northern Illinois.”
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Building on the $231 million investment from 2023 through 2025, the additional $168 million will assist both residential and non-residential customers transition to EVs. The company also places an emphasis on equity, with 80% of the rebates from its over 6,400 projects going to low-income business and public sector organizations serving low-income and Equity Investment Eligible Communities (EIECs).
The ComEd rebates support the goals of Illinois’ Climate and Equitable Jobs Act (CEJA), which was signed into law by Governor J.B. Pritzker in 2021 to combat climate change and promote beneficial electrification across the state. CEJA also has the goal of putting 1 million EVs on Illinois roads by 2030, and ComEd certainly has role to play there, as 90% of the 150,000 EVs registered in Illinois operate within its service territory (that’s up from 19,000 EVs in 2019).
Electrek’s Take
The EV tax credit is no more — what happens now?
While President Trump was running for re-election, he campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs — a campaign promise he kept as recently as September 30th. That wasn’t the end of the road for EVs, however.
If you drive an electric vehicle, make charging at home fast, safe, and convenient with a Level 2 charger installed by Qmerit.As the nation’s most trusted EV charger installation network, Qmerit connects you with licensed, background-checked electricians who specialize in EV charging. You’ll get a quick online estimate, upfront pricing, and installation backed by Qmerit’s nationwide quality guarantee. Their pros follow the highest safety standards so you can plug in at home with total peace of mind.
Amazon’s Prime Big Deal Days event has officially kicked off and will be running through October 8 with some of the best deals of the year on eco-friendly tech. We’ve got another large collection of Green Deals during this two-day period, which we’ve collected the best of and curated into this one-stop shopping hub that will continue to be updated through the week. You’ll find the best of these ongoing seasonal deals on power stations/solar generators, EVs of various kinds, electric tools, and other eco-friendly appliances and smart devices.
October Prime Big Deal Days 2025 Green Deals
Prime Day Power Station Green Deals
EcoFlow’s Prime Day Sale increases power station discounts up to 65% with bonus savings, free gifts, and more from $169
EcoFlow launches new DELTA 3 Max and Ultra power stations with up to $2,000 in savings + FREE gear starting from $759
Save up to 65% on power stations during Anker’s SOLIX Prime Day Sale with extra savings, free gifts, and more from $299
Prime Day offers another chance to pick up the Anker PowerCore Reserve 60,000mAh station at $80 (Reg. $150)