Connect with us

Published

on

U.S., Israel and Iran flags are seen in this illustration taken June 18, 2025.

Dado Ruvic | Reuters

Oil prices fell more than 3% on Friday as President Donald Trump holds off for now on helping Israel to destroy OPEC member Iran’s nuclear program.

Global benchmark Brent fell $2.78, or 3.53%, to $76.07 per barrel. U.S. crude oil gained 84 cents, or 1.12%, to $74.30 per barrel.

Trump said Thursday that he would make his decision on striking Iran within the next two weeks, but wanted to provide space for potential negotiations to take place over the Islamic Republic’s nuclear program.

“Based on the fact that there’s a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks,” Trump said in a statement read aloud by White House Press Secretary Karoline Leavitt on Thursday.

Though Trump is holding back, Israel is escalating its attacks on Iran after eight days of conflict. Prime Minister Benjamin Netanyahu has ordered Israel’s military to intensify its strikes on strategic and government targets in Iran, after an Iranian missile hit a major hospital in southern Israel, Defense Minister Israel Katz said on Thursday.

Catch up on the latest energy news from CNBC Pro:

Continue Reading

Environment

Tesla (TSLA) board fully loses its mind and offers Elon Musk a pay package worth up to $1 trillion

Published

on

By

Tesla (TSLA) board fully loses its mind and offers Elon Musk a pay package worth up to  trillion

Tesla’s board, which has already compensated CEO Elon Musk more than the company earned through its entire existence, is now offering a new pay package worth up to $1 trillion.

Today, Tesla filed its proxy statement ahead of its shareholders’ meeting in November, and there’s a lot in there, but the headline-stealing item is a new compensation plan being proposed for the company’s controversial CEO, Elon Musk.

Musk saw his previous compensation plan, worth $55 billion, the biggest ever for a CEO, rescinded by a judge who found Musk to have negotiated, or more accurately, not negotiated, against a board under his control.

To compensate him, the board gave Musk a pay package worth $26 billion last month and said that a bigger, longer-term package would also be submitted for shareholders’ approval soon.

Advertisement – scroll for more content

Now, Tesla has submitted the new compensation package for shareholders’ approval, and in short, it would give Musk, who is already Tesla’s largest shareholder, about $1 trillion more in stock options.

To receive the grant, Tesla would need to increase its market cap to roughly $8.5 trillion and achieve some milestones, such as putting 1 million Robotaxis into operation and delivering over 1 million robots.

Tesla board members Robyn Denholm and Kathleen Wilson-Thompson wrote in a letter to shareholders:

We’re asking you to approve the 2025 CEO Performance Award. In designing the new performance award, we explored numerous alternatives. Ultimately, the new award aims to build upon the success of the 2018 CEO Performance Award framework, which ensured that Elon was only paid for performance delivered and incentivized to guide Tesla through a period of meteoric growth. The 2025 CEO Performance Award similarly challenges Elon to again meet a series of even more aspirational goals, including operational milestones focused on reaching Adjusted EBITDA targets (thresholds that are up to 28 times higher than the 2018 CEO Performance Award’s top Adjusted EBITDA milestone) and rolling out new or expanded product offerings (including 1 million Robotaxis in commercial operation and delivery of 1 million AI Bots), all while growing the company’s market capitalization by trillions of dollars.

Tesla’s shareholders meeting is going to be held on November 6, 2025.

Electrek’s Take

Musk is already the person who benefits the most from Tesla’s stock by a long shot. He would be benefiting even more if he hadn’t sold tens of billions worth of stock to buy an overpriced Twitter, but that was his own decision.

Now, he managed to convince the board, which is obviously still fully under his control, to give him a new pay package worth up to $1 trillion, as Tesla’s sales have been going down two years in a row and earnings are in a steady decline for coming up on 3 years in a row now.

The craziest thing is that Tesla shareholders are going to happily give him the money and hope that he can pump Tesla’s stock enough to get paid.

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

Continue Reading

Environment

Podcast: Tesla Master Plan 4, new affordable VW EV, wireless EV charging, and more

Published

on

By

Podcast: Tesla Master Plan 4, new affordable VW EV, wireless EV charging, and more

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Tesla Master Plan Part 4, a new affordable EV from VW, wireless EV charging, and more.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

Advertisement – scroll for more content

We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:

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

Continue Reading

Environment

Meet the new BMW iX3: A 500-mile range EV with ultra-fast charging and much more

Published

on

By

Meet the new BMW iX3: A 500-mile range EV with ultra-fast charging and much more

We are finally getting our first look at the future of BMW. The iX3 is “a massive leap” from BMW’s current vehicles with nearly 500 miles of range, ultra-fast charging, and the brand’s advanced new tech. And that’s just the start. The BMW iX3 kicks off a new era for the German luxury brand.

BMW unveils the iX3 with 500 miles range, fast charging

BMW promised the iX3 would be “the benchmark of the industry,” and it wasn’t kidding. The stylish new electric SUV made its world debut at the Munich Motor Show on Friday as the first of BMW’s Neue Klasse models.

After unveiling the new electric SUV for the first time, CEO Oliver Zipse called it a “one-in-a-lifetime moment” and the start of a new era for BMW.

The iX3 is the first of an entirely new generation of BMW vehicles, created from the ground up. BMW “skipped an entire generation” when it comes to design, Zipse said, adding it’s still “more BMW than ever.”

Advertisement – scroll for more content

To maximize range, BMW gave it a clean, aerodynamic design with very few lines. One of the first things you’ll notice is the re-imaged front end. The new face is centered around an updated vertically oriented kidney grille, which is designed to match the more upright vehicle design.

BMW-iX3-front
The new BMW iX3 50 xDrive (Source: BMW)

As the first vehicle powered by its new Gen6 platform, the iX3 is “a massive leap” from current BMW models in terms of range, charging, efficiency, and more. It’s also BMW’s first EV with bidirectional charging.

The BMW iX3 offers an impressive WLTP range of up to nearly 500 miles (800 km). On the EPA scale, it’s expected to deliver around 400 miles of range.

BMW-iX3-side
The new BMW iX3 50 xDrive (Source: BMW)

Based on an 800V architecture, the BMW iX3 can deliver charging speeds of up to 400 kW. According to BMW, that means it can add over 230 miles (370 km) in just 10 minutes.

Updated interior powered by super-brains

The interior is just as impressive with an updated minimalist design. A massive 17.9″ infotainment, powered by its new Operating System X, sits at the center.

It’s also the first BMW model to debut with its new Panoramic iDrive system. The new system “offers a whole new driving experience” and will be used in all upcoming BMW vehicles.

BMW-iX3-interior
The interior of the new BMW iX3 50 xDrive (Source: BMW)

BMW’s new infotainment is powered by “genuine super-brains,” or four advanced computers that can process data about 20 times faster than the systems found in current vehicles.

Measuring 4,782 mm in length, 1,895 mm in width, and 1,635 mm in height, the BMW iX3 is about the same size as the Porsche Macan Electric (see our review).

BMW-iX3-interior
The interior of the new BMW iX3 50 xDrive (Source: BMW)

BMW will begin iX3 production later this year at its new plant in Debrecen. Deliveries are scheduled to start in Europe in early 2026, followed by the US in the summer. BMW will build a special variant for China, which will be produced at its Shenyang plant.

It will initially launch as the BMW iX3 50 xDrive. In Germany, it’s already listed on BMW’s website with prices starting at €68,900 ($81,000).

BMW-iX3-EV-range
The new BMW iX3 50 xDrive (Source: BMW)

In the US, the new BMW iX3 will be available in summer of 2026, starting at around $60,000 with an estimated range of around 400 miles. In early 2027, BMW will launch the iX3 40 sDrive and iX3 40 xDrive. BMW said prices will start at under $55,000 with slightly over 300 miles range.

Starting next year, BMW said every vehicle will be all-new. The new iX3 will be the first of 40 new or updated BMW vehicles by 2027.

What do you think of the all-new BMW design? Are you a fan? Drop us a comment and let us know your thoughts.

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

Continue Reading

Trending