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A view from the Alaska Bootanical Park, fall, Halloween and harvest season themed version of the Alaska Botanical Park with special displays, inside the Far North Bicentennial Park, Alaska, United States on September 22, 2024. 

Hasan Akbas | Anadolu | Getty Images

This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

What you need to know today

Rebound rally
U.S. stocks
rebounded on Tuesday, with all major indexes rising. Technology stocks, in particular, rallied to lift the Nasdaq Composite. The pan-European Stoxx 600 index lost 0.55%. European liquor producers like LVMH, Pernod Ricard and Diageo slumped after China announced anti-dumping measures on brandy products imported from the European Union.

Cooling oil prices
Crude oil prices fell on Tuesday amid reports Israel might focus on striking Iran’s military sites in retaliation for its missile attacks, according to reports by The New York Times and The Jerusalem Post.  Both West Texas Intermediate and Brent futures retreated 4.63% yesterday, halting the red-hot rally oil prices have experienced the past week. 

GM’s not slowing down
General Motors aims to bring in between $13 billion and $15 billion in adjusted earnings before interest and taxes for 2024. The Detroit automaker also expects its 2025 adjusted earnings to be in a “similar range,” said CFO Paul Jacobson during the company’s investor day. That’d be an accomplishment, given the slowdown in the industry.

Shorting Roblox
Short seller Hindenburg Research alleged on Tuesday that Roblox conflated daily active users with the number of people visiting its platform. This distorts the true number of people accessing Roblox because DAUs could include bots or alternate accounts, Hindenburg said. Roblox denies all claims in the report. 

[PRO] Slower earnings growth
Third-quarter earnings season ramps up this week, with banking giant JPMorgan Chase slated to announce its financial results on Friday. Investors might want to temper expectations. For companies in the S&P 500, Wall Street projects a slower pace of earnings growth compared with its estimate in June, according to FactSet data. 

The bottom line

October in the U.S. is the season for pumpkin spice, but the month also harbors the dangerous edge of Halloween.

And getting spooked and soothed alternately is indeed what markets are doing in October.

After falling 0.96% on Monday, the S&P 500 added 0.97% on Tuesday. (Though it should be noted that doesn’t necessarily mean the S&P erased its losses and is up 1 basis point from Monday to Tuesday. Percentages are hard.)

Likewise, the Nasdaq Composite slipped 1.18% Monday but climbed 1.45% yesterday, zapped higher by a rally in tech stocks like Nvidia, Palo Alto Networks and Meta. The Dow Jones Industrial Average didn’t have that dramatic a swing, losing 0.94% Monday but advancing 0.3% Tuesday.

October, then, is truly living up to its reputation as the most volatile month for stocks. But investors should keep in mind the uncomfortable swings in markets aren’t always a good signal for the underlying health of stocks.  

“While our expectation is for October to remain choppy, we don’t view the overall market action to be bearish and encourage investors to maintain perspective on the longer-term trends,” Robert Sluymer, technical strategist at RBC Wealth Management, wrote to clients in a Tuesday note.

Investment bank Piper Sandler has the same opinion on October’s turbulence. “October is historically a ‘backing and filling’ month as investors react to Q3 earnings results,” Craig Johnson, chief market technician, wrote in a Tuesday note.

In fact, when stocks dip because of mild repricing or a correction, that’s a good opportunity for investors to swoop in, according to Johnson.

The see-saw motion of stocks in October isn’t all that bad, then, if investors can seize the right time to enter the market or solidify their positions further. It doesn’t have to be spooky season all the time. 

– CNBC’s Hakyung Kim, Samantha Subin and Alex Harring contributed to this story.   

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Segway’s new Xafari Red e-bike at $2,000 low (Save $400), Exclusive refurbished Anker SOLIX F3800 station $1,763 ($916 off), EcoFlow, more

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Segway's new Xafari Red e-bike at ,000 low (Save 0), Exclusive refurbished Anker SOLIX F3800 station ,763 (6 off), EcoFlow, more

We are kickstarting this week’s Green Deals with the Segway Xafari e-bike in its new red colorway at a $2,000 low for an unforeseen time. Coming in right behind it is an exclusive $916 in savings on refurbished Anker SOLIX F3800 Portable Power Stations for $1,763 each, as well as EcoFlow’s latest flash sale that is taking up to 56% off two units and also offering an EcoCredits purchase promotion, like the DELTA 2 Max Portable Power Station bundled with a 500W alternator charger at a $999 low. We also have more power station savings from Jackery, Worx’s adaptable Intellicut mower kit, and more waiting for you below. Plus, all the hangover savings from last week at the bottom of the page, rounded up into our Electrified Weekly coverage.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

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.

family holds hands walking towards RV with Anker SOLIX F3800 power station being pulled behind

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 shippedafter 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.

If you want to learn more about this renewed unit, be sure to check out our original coverage of this exclusive deal here.

EcoFlow DELTA 2 Max power station on counter next to toaster oven

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.

If you want to learn more about this particular bundle or the other flash sale offers, be sure to check out our original coverage of these 24-hour deals here.

Jackery explorer 1000 v2 power station on desk next to connected computer and refrigerator

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.

If you want to learn more about this power station, be sure to check out our original coverage of this deal here.

man pushing Worx 40V 17-inch cordless Intellicut lawn mower next to walkway

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 shippedafter 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.

If you want to learn more about this adaptable lawn care solution, be sure to check out our original coverage of this deal here.

Best Summer EV deals!

Best new Green Deals landing this week

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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This country quietly became an electric haven with EVs now having 76% market shares

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This country quietly became an electric haven with EVs now having 76% market shares

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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This EV just launched in China for under $5,000

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This EV just launched in China for under ,000

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.

EV-China-$5,000
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.

EV-China-$5,000
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.

Source: CarNewsChina, FAW

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