Smoke billows from an explosion at the Islamic Republic of Iran Broadcasting (IRIB) building in Tehran on June 16, 2025.
AFP | Getty Images
The U.S. stock market rose and oil prices retreated amid news that Iran wants a ceasefire with Israel. As early as the first days of Israel’s strikes, Tehran reportedly asked several countries to persuade U.S. President Donald Trump to call on Israel for an immediate ceasefire, NBC Newsreported, citing a Middle East diplomat with knowledge of the situation.
When asked at a news briefing Monday about the prospect of a ceasefire, however, Israeli Prime Minister Benjamin Netanyahu indicated he was not interested in one, according to NBC News. Netanyahu said Israel is “not backing down” from eliminating Iran’s nuclear program.
Regardless of how negotiations — or the lack thereof — play out, it’s clear that countries are placing renewed emphasis on defense. The U.S. Defense Department is turning to artificial intelligence to bolster its forces, announcing on Monday a one-year contract with OpenAI “to address critical national security challenges in both warfighting and enterprise domains.”
Amid the Monday developments regarding armed conflict and defense considerations, the Trump Organization announced a mobile phone plan called Trump Mobile and a smartphone, clad in gold and emblazoned with an American flag, dubbed “T1.” Putting aside iffy ethical issues about the sitting U.S. president lending his name to consumer products, their unveiling seemed ill-timed and tone deaf.Perhaps the reception over Trump Mobile was spotty.
Safe-haven assets dip In another sign the markets are shrugging off the Israel-Iran conflict — which continued for the fourth consecutive day — both safe-haven assets and oil prices dipped Monday. At the end of the trading day stateside, spot gold prices fell 1.03%, while the dollar index dipped 0.07%. Meanwhile, U.S. crude fell 1.66% to settle at $71.77 and international benchmark Brent lost 1.35% to close at $73.23 a barrel.
‘Golden share’ in U.S. Steel Shares of U.S. Steel rallied 5.1% Monday after Trump issued an executive order on Friday that allowed the firm and Nippon Steel to finalize their merger so long as they sign a national security agreement with the U.S. government. U.S. Steel said Friday that the agreement, which both companies have signed, includes a golden share for the U.S government, which would give it veto power over many decisions.
OpenAI wins contract from Defense Department OpenAI has been awarded a $200 million one-year contract to provide the U.S. Defense Department with artificial intelligence tools, the latter announced Monday. It’s the first contract with OpenAI listed on the Department of Defense’s website. In December, OpenAI said it would collaborate with defense technology startup Anduril to deploy advanced AI systems for “national security missions.”
Trump Organization enters telecommunications The Trump Organization, a company owned by the current U.S. President, on Monday announced a mobile phone plan and a $499 smartphone set to launch in September. The company’s new foray into telecommunications mainly comprises a licensing agreement. On Friday, the president reported that he had made more than $8 million in 2024 from various licensing agreements.
[PRO] What would it take for markets to react? Equity and energy markets appeared to shake off concerns of a wider conflict in the Middle East on Monday, reversing some of the moves from late last week. Such a response to geopolitical conflict is not unusual, according to one strategist, who explained what it would take for markets to feel the effects of the hostilities.
And finally…
U.S. President Donald Trump raises a fist as he steps off of Air Force One upon arrival at Calgary International Airport, before the start of the G7 summit, in Alberta, Canada, June 15, 2025.
As leaders of the world’s largest advanced economic powers gather in Canada for this year’s Group of Seven summit, ongoing trade instability and turmoil in Ukraine and the Middle East are set to dominate talks.
With uncertainty over those major issues largely arising from the White House’s economic and foreign policy, allies are likely to ask whether Trump stands with them, or against them on major geopolitical points.
Asked if he planned to announce any trade pacts at the summit as he left the White House on Sunday, Trump said: “We have our trade deals. All we have to do is send a letter, ‘This is what you’re going to have to pay.’ But I think we’ll have a few, few new trade deals,” in comments reported by The Associated Press.
Segway returns its Xafari e-bike with an 88-mile range and Apple Find My in a new red colorway to its $2,000 low (Save $400)
While we have already seen a few periods of price cuts on Segway’s new Xafari e-bike, you can now score it in an all-new red colorway for the first time at $1,999.99 shipped. This model opened for preorder with a $2,400 price tag and didn’t see its first discount until the top of June when it fell to $2,200. Two weeks ago the brand’s Prime Day sale dropped things further to the $2,000 low, with it not only returning here today but also coming as the official introduction to this new red colorway. While the savings last you can keep $400 in your pocket, with it back at the best rate we have tracked to date.
Segway designed the Xafari e-bike as an all-terrain ride for folks at every skill level carrying the tagline “for everyone, yet far from ordinary.” Now sporting this stunning cherry red colorway, it arrives with a 936Wh battery powering the 750W rear hub motor to hit 20 MPH top speeds for up to 88 miles of pedal-assisted travel (with 12 levels that come supported by a torque sensor). What’s more, this model reaches that kind of range on just six hours of charging. One of the biggest standout features here, though, is the inclusion of the brand’s Intelligent Ride System that brings high-end smart features to your experience, including Airlock wireless proximity security, an alarm system, Apple Find My, GPS, adaptive pedal assistance, and more.
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There’s also been plenty of forays into more comfortable elements with the Segway Xafari Red e-bike, like the ergonomic positioning providing less fatigue on your back as you go along, as well as adjustable compression damping, all-terrain Kenda tires, a lock-out fork, and 80mm front/70mm rear suspensions. That’s not all, as there’s the rear cargo rack to carry packages, bags, and the like, Tektro hydraulic disc brakes, front/rear lighting that obviously activates upon braking too – plus, a sophisticated HQ for controls via the integrated multi-color smart TFT display that has a 20W USB A/C port to charge your phone, among plenty more.
Save and get more with an exclusive $916 discount on a refurbished Anker SOLIX F3800 power station at $1,763
We’ve secured a great exclusive deal from Wellbots on a refurbished Anker SOLIX F3800 Portable Power Station for $1,763.10 shipped, after using the exclusive code 10ANK9TO5 at checkout. This is a renewed unit that already starts off dropping from $2,679 to $1,959, with the exclusive code cutting an additional $196 off the tag to come in much lower than the best pricing we’ve spotted on a brand-new unit ($336 lower). Today’s pricing is only beaten out by the exclusive $1,699 pricing we scored back in May, with the deal here being the second-best we have tracked, giving you $916 off its going rate.
EcoFlow flash sale takes 56% off DELTA 2 Max bundle with 500W alternator charger at $999 low
As part of its ongoing July Monthly Madness Sale that is running through the end of the month, EcoFlow has launched the next of its 24-hour flash sales with two power station units getting up to 56% taken off their tags alongside a bonus 500 EcoCredits offer for $1. Among the two power stations, things start with the DELTA 2 Max Portable Power Station that comes bundled with a 500W alternator charger at $999 shipped. This bundle would normally run you $2,288 at full price, and it’s quite the rare deal as we usually see this station with the 800W charger getting discounts, which is currently sitting at a $1,049 low at Amazon. With the two chargers often varying by a $50 price difference, the 56% markdown during this short-term sale is appropriately priced, with $1,289 in savings cut from the tag to land it at the best price we have tracked.
Jackery’s Explorer 1000 v2 LiFePO4 station gives you protected 1,070Wh backup power at $469
Through its official Amazon storefront, Jackery is offering its Explorer 1000 v2 Portable Power Station at $469 shipped. This station would normally run you $799 were it at full price, which we saw dropping as low as $449 in Lightning sales until Prime Day when it hit the $399 low. If you missed out on those lower rates, you’re still looking at a solid 41% markdown here today, cutting $330 off the tag at the third-best price we have tracked.
Get an adaptable cut with Worx’s 40V 17-inch cordless Intellicut mower that comes with two 4.0Ah batteries at $270
Amazon is now offering the Worx 40V 17-inch Cordless Intellicut Lawn Mower with two 4.0Ah batteries at $269.99 shipped, after clipping the on-page $30 off coupon. This is an older but still reliable mowing solution that won’t weigh as heavily on budgets usually fetches $330 at full price, which we’ve mostly seen dropping down every few months to this same rate. We’ve seen it go a tad lower in the past to $266 and the $260 in April and May, while Prime Day saw it drop to $240 for four days, with today’s deal otherwise being the best price we have tracked, with $60 cut from the tag.
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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While most headlines focus on EV adoption in the US, Europe, and China, Nepal is quietly outpacing almost every country on Earth when it comes to electrifying its roads.
In the last year alone, 76% of new passenger vehicles and 50% of light commercial vehicles sold in Nepal were electric compared to a 20% global average.
How did we all miss Nepal’s electrification story?
TL;DR: The New York Times has released a fascinating new report that tells the little-known story of Nepal’s electrification. The country’s aggressive EV shift is the result of a perfect storm: abundant hydropower, smart import tax policy, growing infrastructure, and a wave of affordable EVs from China.
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Cars powered by rivers, not oil
Nepal’s power grid is fed by rivers flowing from the Himalayas, making electricity clean and locally sourced. A 2015 fuel crisis with India prompted a national pivot to hydropower, helping to end the rolling blackouts that plagued the country for years. Now, electricity is abundant—and it makes more economic sense to use it for transport than to keep importing petroleum.
There are many countries in somewhat similar situations, but most of them have not embraced electric transport as much as Nepal.
To accelerate the transition, the government slashed import taxes for EVs to as low as 40% (vs. 180% for ICE vehicles). The result? A Hyundai electric SUV now costs less than its gas-powered counterpart.
Charging infrastructure is growing fast too: 62 public stations installed by the government, with hundreds more by businesses and homes. At current electricity rates, charging an EV costs roughly 15x less than refueling a gas car.
China dominates EV surge as dealers pivot
Chinese automakers like BYD are rapidly taking over the market. Originally a solar equipment distributor, Yamuna Shrestha became Nepal’s exclusive BYD dealer and now operates 18 dealerships. She expects to sell 4,000 vehicles in 2025.
“Consumers are getting Tesla-tier vehicles at half the price,” said one local Suzuki dealer, noting that Indian brands can’t keep up on cost or features. Dozens of Chinese brands are now competing in Nepal’s EV market, pushing the transition faster.
The electric transition created a lot of opportunities in the country’s relatively small automotive.
EVs work for everyday drivers in Nepal
EVs are already paying off for everyday Nepalese. Jit Bahadur Shahi, a retired police officer, purchased an electric minibus for approximately $33,000. Just 10 round trips a month between Kathmandu and his hometown cover the loan payments. He expects to own it outright in four years.
Still, challenges remain: charging infrastructure isn’t everywhere, but the government is investing in expansions to make sure the infrastructure grows with the rapidly growing EV fleet.
Political instability could slow things down.
While a success story, especially for a developing country, Nepal could find it difficult to reach near 100% EV sales in Norway amid some political instability.
Despite the momentum, policy backsliding could derail progress. Nepal has had three prime ministers in five years. This year, tariffs are creeping back up. Meanwhile, there’s no national plan yet for battery recycling or vehicle safety standards.
“If incentives disappear, the market could shift back to gas,” warned Rajan Babu Shrestha, Nepal’s Tata Motors distributor.
Public transit is the next step
While private EV adoption is booming, most of Nepal’s population relies on buses and motorbikes, which remain mostly fossil-fueled.
State-backed bus operator Sajha Yatayat runs 41 electric buses and plans to expand. China recently offered to donate 100 more, helping to build a clean transit backbone. However, experts say that at least 800 electric buses are needed to truly shift mobility in the Kathmandu Valley.
Scooters and two-wheelers also need to go electric, but adoption there lags behind neighboring India.
“We are trying to reduce fossil fuel vehicles in my town,” said Lalitpur mayor Chiri Babu Maharjan in the NYT story. “This is very difficult, but we must do something.”
Electrek’s Take
Nepal’s EV story is unique, but there are also many similarities with other markets, making it potentially replicable. By tapping into its clean energy, embracing Chinese EV supply, and creating the right incentives, the country has leapfrogged most markets in EV adoption.
Again, I understand that it is a fairly small market, but it’s still impressive that a few Chinese automakers can change the entire auto market of a country in less than 5 years.
From no EVs to almost only EVs in about 5 years.
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There’s one vehicle in the US that you can currently buy for under $20,000, and it’s about to go extinct. In China, another EV just landed for under $5,000.
Meet the Bestune Pony EV, a $5,000 EV for China
Chinese electric vehicles are “far superior” to those in the US, according to Ford’s CEO Jim Farley. Lucid’s interim CEO, Marc Winterhoff, warned just last week that China is “on a different planet” when it comes to EV tech, software, and innovation.
With another EV launching for under $5,000, China is proving again how far the industry has come over the past few years.
Bestune launched the new Pony EV, priced from just 34,900 yuan, or just about $4,900. The company was known as Besturn, but FAW rebranded the series as an affordable, mainstream brand in 2018.
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The new Pony, not to be confused with Honda’s iconic Pony, is an updated version of the mini electric car, which launched in China last May. Since launching, FAW has sold over 100,000 models.
The 2026 Bestune Pony keeps its boxy, kei car-like design. Added LED lights and funky two-tone color schemes give it a playful, fun look.
At just 3,000 mm long and 1,500 mm wide, the new Pony EV is even smaller than BYD’s smallest (and best-selling) electric car, the Seagull, at 3,780 mm long and 1,715 mm wide.
2026 Pony EV interior (Source: FAW)
Inside, the electric car features a relatively minimalist setup with a digital cluster, basic air conditioning, and radio/Bluetooth, as well as parking sensors. Higher trims offer upgrades like a 10.1″ smart infotainment and Deepseek intelligent assist.
Powered by a 42 hp rear motor and 18.11 kWh LFP battery, the Pony EV provides a CLTC range of up to 222 km.
FAW launches the 2026 Bestune Pony EV (Source: FAW)
It’s available in five trims with prices ranging from 34,900 yuan ($4,900) to 45,900 yuan ($6,300). All five feature a driving range of up to 222 km CLTC.
Would you buy the Pony EV for under $5,000 in the US? It doesn’t only come in pink. You can get it in blue, green, yellow, and more. Let us know what you think of it in the comments.
Meanwhile, in the US, the last new vehicle on the market for under $20,000 is the Mitsubishi Mirage. In June, its average transaction price was about $18,500.