Connect with us

Published

on

Hyundai is denying rumors that it plans to raise vehicle prices, starting today, June 2. The price hikes were expected to go into effect in the US to help offset the blow from Trump’s auto tariffs. Here’s what to expect now.

Is Hyundai raising vehicle prices in the US?

Last week, a Bloomberg report claimed Hyundai was considering raising vehicle prices across the board. The report cited sources familiar with the matter said the price hikes were expected as soon as June 2.

Hyundai denied the rumors (via The Korea Herald), saying, “We have not made any decision regarding price changes after the current price guarantee period ends.”

On April 4, Hyundai launched its “Customer Assurance” program in response to Trump’s auto tariffs and uncertain market conditions. The program locks in car prices (MSRP) for those who purchase or lease a vehicle, including those under its luxury Genesis brand, during the protection window.

Advertisement – scroll for more content

However, the window ends today, June 2. Hyundai stated that June is when it typically reviews prices, and this is not specifically related to the recent US auto tariffs.

Hyundai-vehicle-prices
Hyundai IONIQ 9 (Source: Hyundai)

The price hikes were expected to be around 1% on every vehicle across its lineup, including electric vehicles (EVs). The sources also said Hyundai was considering raising prices on optional features, such as added roof rails.

Like most of the industry, Hyundai is facing higher import costs since the 25% tariff went into effect on April 3. Stellantis, Ford, Honda, and others have already announced plans to raise vehicle prices in the US due to tariffs.

Hyundai-vehicle-prices
2025 Hyundai IONIQ 5 (Source: Hyundai)

Hyundai recently opened its massive new EV manufacturing plant in Georgia, where the new IONIQ 9 and the 2025 IONIQ 5 are produced. However, many of its vehicles are still imported from Korea.

Over 637,600 vehicles were exported from Hyundai’s plants in Korea to the US last year, or nearly 70% of its sales.

We should learn more soon as Hyundai finalizes its pricing review. We’ll keep you updated with the latest. For now, Hyundai’s EVs are still surprisingly affordable.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Leaked recording proves Tesla (TSLA) has employee morale problem

Published

on

By

Leaked recording proves Tesla (TSLA) has employee morale problem

A leaked recording of a new Tesla training program reveals that the company is concerned about a growing employee morale issue.

Last year, we noted that, following a mass wave of layoffs that was poorly handled on many levels, Tesla has been facing significant employee morale issues.

A year later, it looks like these are ongoing and Tesla is trying to address them.

Last week, Tesla had a week-long production shutdown at Gigafactory Texas and employees were offered to come in for some training during that time.

Advertisement – scroll for more content

One of the training sessions was related to “company culture,” and Business Insider obtained a recording, releasing some quotes from it.

The instructor asked Tesla employees attending the training if they’d ever felt “I can’t work under these conditions”or had felt set back by constant change at the company.” “I know I have,” the instructor told the employees.

The recording made it clear that Tesla is having some turnover issues due to morale. The instructor said:

“A lot of people leave this company, and they have kind of a negative taste in their mouth. They think: ‘Man, it was terrible. It was bad. I got burnt out. I feel like I didn’t get anything done, nobody listened to me.’”

The company culture training reportedly used to be for Tesla management, but the instructor said that the company decided to expand it to all employees.

They added:

“Leadership has kind of another level of responsibility for trying to guide and direct that culture. But at the end of the day, it’s us as the people on the ground that are the reflection of the culture.”

The instructor highlighted the need for employees to focus on Tesla’s “higher purpose.”

Tesla greatly benefited from being a mission-driven company with the aim. of accelerating the transition to electric transport and sustainable energy.

It helped with hiring and in pushing Tesla’s well-known aggressive work rate.

However, Tesla’s mission shifted in the last few years as CEO Elon Musk had Tesla focus on autonomous driving, and many people feel that the original mission has taken a step back with the CEO backing Donald Trump and the Republican party, who have historically campaigned against electric vehicles and renewable energy.

Electrek’s Take

Company culture begins at the top and flows down. Musk has historically asked a lot out of Tesla employees, but he has barely been working at Tesla for the past year.

That’s not outstanding leadership.

Furthermore, he alienated most of Tesla’s customer base, and while he still has loyalists at Tesla, I think that his massive drop in favorability is also reflected among Tesla employees.

I think talent retention should be one of the biggest concerns at Tesla right now.

I track employee comings and goings closely and I see a continued exodus of talent right now that doesn’t seem to be slowing down. Employee morale is part of it.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Trump’s Truth Social takes step toward launching bitcoin ETF with NYSE Arca filing

Published

on

By

Trump's Truth Social takes step toward launching bitcoin ETF with NYSE Arca filing

Anna Barclay | Getty Images

President Donald Trump’s Truth Social platform moved a step closer to having a bitcoin exchange-traded fund available to everyday investors.

NYSE Arca, the all-electronic arm of the New York Stock Exchange that handles most ETF trading, filed on Tuesday to list a bitcoin fund linked to the president’s media company, the latest sign of Trump’s expanding push into the crypto world. Known as a 19b-4 form, the filing is required before regulators can decide whether to allow the fund to launch and trade on a U.S. exchange.

Called the Truth Social Bitcoin ETF, the fund is designed to track the price of bitcoin and offer a simpler way for investors to gain exposure without holding the asset directly. The filing follows an announced partnership between Trump Media and Crypto.com in March to bring a suite of digital asset products to market later this year, pending regulatory approval.

Those planned offerings include baskets of cryptocurrencies, such as bitcoin and Crypto.com’s native Cronos token, combined with traditional securities. The products will be branded under Trump Media and made available to global investors through major brokerage platforms and the Crypto.com app, which serves more than 140 million users worldwide.

Since the January 2024 launch of spot bitcoin ETFs, the market has swelled to more than $130 billion in total assets. BlackRock‘s iShares Bitcoin Trust (IBIT) accounts for the lion’s share, with nearly $69 billion in assets, making it the largest digital asset manager in the world.

Trump is the majority owner of Truth Social’s parent company, Trump Media & Technology Group, which has made a series of crypto-aligned moves in recent months — from trademarking digital asset products to unveiling a $2.5 billion bitcoin treasury plan last week in Las Vegas. If approved, the ETF would represent one of the most politically connected entries into the booming market for bitcoin funds.

WATCH: SEC Commissioner Peirce on dropping Binance case: We’re writing the rules first, then enforcing

SEC Commissioner Peirce on dropping Binance case: We’re writing the rules first, then enforcing

Continue Reading

Environment

West Virginia just hit a solar milestone but there’s a major catch

Published

on

By

West Virginia just hit a solar milestone but there’s a major catch

The third of a quintet of West Virginia solar farms just came online, and while that’s a renewable milestone, there’s a disappointing hitch.

3 out of 5 West Virginia solar farms are online

FirstEnergy subsidiaries Mon Power and Potomac Edison have launched a 5.75 megawatt (MW), 17,000-panel solar farm at Marlowe in Berkeley County. The new solar farm sits on about 36 acres of land along I-81 and the Potomac River – land that used to store ash from the retired R. Paul Smith Power Station.

In 2022, FirstEnergy wrapped up a major cleanup effort, pulling more than 3 million tons of ash from the site to be reused in cement manufacturing. With the landfill officially closed, the company cleared the way to turn the former waste site into a clean energy generator as part of its solar program. Fifty-four local union workers constructed the solar farm, which features US-made solar panels, a racking system, and electrical equipment.

It’s the third of Mon Power and Potomac Edison’s five solar farms that will generate up to 50 MW of clean energy combined. The companies completed their first solar farm at Fort Martin Power Station (18.9 MW) in early 2024, and their Rivesville solar site (5.5 MW) came online last fall. In total, the companies now have 30 MW of solar capacity.

Advertisement – scroll for more content

Electrek’s Take

Combined, the five projects will create more than 87,000 Solar Renewable Energy Credits (SRECs) available for purchase by customers for 4 cents per kilowatt hour in addition to normal rates. Aside from the essential benefit of cutting carbon emissions, there isn’t anything else in it for customers, apart from spending, on average, an extra $40 or so a month out of the goodness of your heart to go solar. Heck, you don’t even get a T-shirt.

Mon Power and Potomac Edison – why are customers being charged MORE to buy into solar in West Virginia? That’s a stick, not a carrot. (And WV? Coal’s not coming back. It doesn’t matter what Trump says.)

But solar growth anywhere is something to be cheerful about, and solar energy in coal-state West Virginia is progressing. According to the Solar Energy Industries Association, as of Q4 2024, 205 MW of solar is installed in West Virginia. So, it’s no surprise that it’s at the bottom – it’s ranked 49th in the US for the amount of solar installed. However, it’s projected to reach 40th place over the next five years with 1,064 MW, so at least it’s expected to improve.


To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending