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A new Honda EV for under $30,000? That’s the plan. And it could come as soon as next year. Honda plans to build the new electric car in the US as part of its new Honda 0 Series EV lineup. Here’s what we know so far.

Is Honda launching an EV for $30,000 in the US?

After a strong sales year in the US, Honda is aiming for a bigger share in its most important market, which accounts for roughly a third of the Japanese automaker’s sales.

After a slow start, Honda is looking to catch up in the EV market. Although sales of its first electric SUV, the Prologue, surged last year after deliveries began in March, Honda is launching an entire new lineup of EVs soon.

The Prologue is based on GM’s Ultium platform, which also underpins new electric Chevy, Cadillac, and GMC models.

According to Nikkei, Honda plans to launch a smaller EV priced under $30,000 in the US as early as 2026. It will be made locally, starting with the batteries, to cut costs. The new EV is expected to be the entry-level model for its upcoming Honda 0 Series. It will be a cornerstone for Honda’s global expansion.

Honda-$30,000-EV-US
Honda 0 Saloon & SUV Prototypes at 2025 CES (Source: Honda)

Honda showcased two concepts from the lineup, an SUV and a Sedan, at the Consumer Electronics Show (CES) last month.

The report claims Honda will build the $30,000 EV in Ohio. It will be one of seven new models in the lineup that will arrive by 2030.

Honda-$30,000-EV-US
Honda 0 Saloon & SUV Prototypes at 2025 CES (Source: Honda)

Honda’s plan to launch a low-cost EV comes as US President Trump plans to end federal EV subsidies and other programs designed to accelerate adoption. He is also threatening new tariffs on key trade partners like Mexico, Canada, and Europe.

The smaller EV will arrive after the SUV and sedan, which are expected to cost around $50,000 to $60,000. Honda is expected to begin production later this year.

best-selling-EVs-2024
2024 Honda Prologue Elite (Source: Honda)

Honda expects the new 0 Series lineup to accelerate EV sales. By 2040, it aims for EVs and FCEVs to account for 100% of new car sales.

Electrek’s Take

At under $30,000, Honda’s new EV would be cheaper than most gas-powered cars, giving it a significant advantage.

Several other automakers like Ford, GM, Tesla, and Rivian are also planning to launch smaller, lower-cost EV models, so it could face more competition by then.

Either way, it would likely be a hot seller. Honda sold over 33,000 Prologue SUVs in the US last year after deliveries began in March. Honda’s electric SUV outsold the Chevy Equinox (28,874), Cadillac Lyriq (28,402), and Chevy Blazer EV, and it’s based on the same platform.

Although GM discontinued its iconic Bolt EV, the smaller electric car is due to make a comeback in 2026. The new Bolt will be a part of a “family of Bolts,” according to GM President Mark Reuss. It’s also expected to start at around $30,000 or less.

Will Honda’s new EV compete with the next-gen Chevy Bolt EV? Or will it be based on it? GM is also in talks with Hyundai about rebadging EVs and selling them in the US. Stay tuned for more. We’ll keep you updated with the latest.

With leases starting as low as $209 per month, the Honda Prologue is already more affordable than many gas cars. You can use our link to find offers on the 2024 Honda Prologue at a dealer near you today.

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UK backtracks on plans to double the power of electric bikes

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UK backtracks on plans to double the power of electric bikes

If it sounded too good to be true, that’s because it was. A proposal made last year to double the allowable power limit of electric bicycles in the UK was canceled after pushback on the plan.

Current laws in the UK are similar to those throughout most of Europe, limiting electric bicycles to 250 watts (1/3 hp) and 25 km/h (15.5 mph) of top speed.

A proposal put forth by the Conservatives would have seen that power limit doubled to 500W in the UK, and potentially also allowed for the use of a hand throttle, according to Bike Radar.

After the Department for Transport began a public consultation to assess public opinion, it became clear that while the general public had mixed feelings, most bicycling organizations were largely in favor of keeping the existing regulations unchanged.

“While the difference between the overall number of respondents being in favour and those not in favour was relatively small, this was not the case with main stakeholder organisations, with the vast majority opposing the proposals,” the Department for Transport explained. 

While European electric bicycle laws are relatively strict, limiting electric bicycle motors to less power than a healthy adult can generate with their own legs, North American e-bike laws are generally less restrictive.

In Canada, electric bicycles can support up to 500W of power and feature hand throttles that allow the e-bikes to be powered even without pedaling. In the US, the vast majority of states have adopted the three-class system, which allows all electric bicycles to support motors of up to 750W of power, or three times the European limit. Hand throttles are also allowed on some electric bikes, but the specifics can vary from state to state. The subject of speed, as well as hand throttles on e-bikes, has become a contentious subject in the US with increased regulatory activity.

In much of Europe, bicycles and e-bikes are seen as more integrated members of the larger public transportation system. In North America, cities are much more car-centric and often even hostile to cyclists.

While not all European cyclists enjoy the utopia of Amsterdam’s bicycle-friendly streets, most European cities are more likely to feature better-developed cycling infrastructure that lets cyclists safely travel at slower speeds. Conversely, many American riders feel that higher speeds and motor power levels are essential for their safety when sharing the roads with cars, as higher performance allows riders to better pace existing vehicle traffic.

Regulations don’t just dictate how powerful an e-bike can be, but rather they can also shape how e-bikes are used in daily life. In Europe, where most e-bikes are capped at 250W and 25 km/h (15 mph), more emphasis is placed on pedal-assisted cycling, encouraging active riding while offering a boost for longer trips.

Many cities in Europe have extensive bike lane networks that accommodate e-bikes alongside traditional bicycles, reinforcing the idea that e-bikes are simply a modernized version of cycling rather than a separate vehicle class.

In North America, where 750W e-bikes are common and Class 3 e-bikes can reach 28 mph (45 km/h), the riding experience can sometimes be closer to that of a moped. While many riders enjoy this broader freedom, it has caused friction in many cities who seek to rein in higher performance electric bikes.

At the same time, higher power limits and throttle-assist features can make e-bikes more attractive for recreational riders, commuters, and even delivery workers, especially in cities where bike lanes are scarce. This has contributed to a wider diversity of e-bike styles in North America, from fat-tire adventure bikes to powerful cargo e-bikes capable of carrying heavier loads.

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Polestar unveils a new collection of ‘Arctic Circle’ EVs that will be shown off at an ice race [Video]

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Polestar unveils a new collection of 'Arctic Circle' EVs that will be shown off at an ice race [Video]

Polestar has unveiled a new collection of one-off “Arctic Circle” EVs designed to showcase the brand’s performance DNA. The rally-inspired upgrades have now been applied to the Polestar 2, 3, and 4 EVs and were put through their paces in the frigid Arctic before they make their public debut at an ice race in Austria. See more in Polestar’s video below.

Although Polestar is technically a Chinese brand since it is majority-owned by Geely Holding, its roots and design are still very Swedish. The premium EV brand is just now starting to gain some clout with consumers as its lineup of available vehicles has expanded to three models: the Polestar 2 sedan, 3 SUV, and 4 crossover.

Aside from several additional models in its pipeline, Polestar has developed several performance variants of its models. Well, actually, up until now, there has been just one model, the Polestar 2. Nevertheless, we’ve seen two high-performance BST Editions as well as a unique “Arctic Circle” Polestar 2 that made its debut in February 2022.

Three years later, Polestar’s lineup has grown by two, and the automaker has returned to the chilly tundra of the Arctic Circle with unique one-off variants designed to kick up some snow and drift across the ice. Today, Polestar shared images and a video of the new Arctic Circle collection before the three unique EVs perform some hot laps on the ice of Austria this weekend.

  • Polestar Arctic
  • Polestar Arctic

Polestar shows off its tuning prowess in the Arctic Circle

According to news shared by Polestar this morning, the previously mentioned one-of-a-kind Polestar 2 Arctic Circle is now part of a trio of ice-ready EVs alongside its Polestar 3 and 4 siblings. The new Arctic Circle collection is a design exercise in rally-inspired EVs that showcase Polestar’s performance prowess. Company CEO Michael Lohscheller elaborated:

The Arctic Circle collection illustrates our unique performance DNA, rooted in motorsport and combined with Scandinavian design. We develop our cars under challenging conditions within the Arctic Circle in Sweden, and at the FAT Ice Race we will showcase that on ice there is nothing better than a Polestar. We are really excited to be part of this special event with our full model line-up, where it’s all about car culture and the performance experience.

Following today’s online debut of the new Arctic Circle EVs, Polestar said the three one-off models will make their public debut during the 2025 FAT Ice Race in Zell am See, Austria, on February 1. We asked the Polestar team if the Arctic Circle EVs would be competing, but they unfortunately will not.

However, Polestar told us the Arctic Circle EVs will be out on the ice track for some hot laps in front of the race attendees, operated by professional drivers and Polestar engineers, including Polestar’s Head of Driving Dynamics Joakim Rydholm and multiple STCC and WTCC champion Thed Björk.

The vehicles were built at one of Polestar’s Swedish R&D facilities and feature raised ride heights with custom 3-way adjustable Öhlins dampers, specialized Pirelli studded tires, and OZ racing wheels. The Polestar 2, 3, and 4 Arctic Circle EVs also showcase new Quad Evo front spotlights from Stedi, bucket seats from Recaro, and a slew of exterior winter accessories like skis, roof racks, storage containers, and recovery equipment.

Per Polestar, here’s how each of the Arctic Circle EVs break down in terms of specs and accesories:

Polestar 2 Arctic Circle Polestar 3 Arctic Circle Polestar 4 Arctic Circle
MY21 Long Range Dual
Motor with Performance Pack
and software upgrade
469 hp / 502 lb-ft (350 kW)
MY24 Long Range Dual
Motor with Performance Pack
517 hp / 671 lb-ft (380 kW)
MY24 Long Range Dual
Motor with Performance Pack
544 hp / 506 lb-ft (400 kW)
Custom Öhlins 3-way
adjustable dampers (2-way
compression, 1-way rebound)
with external gas reservoirs
Custom Öhlins 3-way
adjustable dampers (2-way
compression, 1-way rebound)
with external gas reservoirs
Custom Öhlins 3-way
adjustable dampers (2-way
compression, 1-way rebound)
with external gas reservoirs
+1.2-inch ride height +1.6-inch ride height +0.8-inch ride height
Front and rear strut braces Front strut brace Front strut brace
Specialized 19” Pirelli
Scorpion All-Terrain Plus with
250 4-mm studs (245/45R19)
(for ice track driving)
Specialized 20” Pirelli Scorpion
All-Terrain Plus with 300 4-mm
studs (295/40R20) for ice track
driving
Specialized 20” Pirelli Scorpion
All Terrain Plus with 300 4-mm
studs (295/40R20) for ice track
driving
Pirelli P Zero Winter
(245/45R19) (for road driving)
Pirelli Scorpion Winter 2
(255/50R20 front, 285/45R20
rear) (for road driving)
Pirelli Scorpion Winter 2
(255/50R20) (for road driving)
OZ Racing Rally Racing
wheels (19”)
OZ Racing Rally Legend
wheels (20”) (world premiere)
OZ Racing Rally Legend
wheels (20”) (world premiere)
Recaro Pole Position bucket
seats
Recaro Pole Position bucket
seats
Recaro Pole Position bucket
seats
Paddle-operated launch control  Stedi ST4K roof light bar  Drift-inspired hydraulic hand
brake
Stedi Quad Pro LED front
spotlights
Stedi Quad Pro LED front
spotlights
Stedi Quad Pro LED front
spotlights
Rally-inspired mud flaps 
and Swedish gold tow hooks
Rally-inspired mud flaps 
and Swedish gold tow hooks
Rally-inspired mud flaps 
and Swedish gold tow hooks
Thule WingBar Edge roof rails
and SnowPack ski mounts
Thule WingBar Edge roof rails
and custom roof basket
Specialized ski mounts
Blackcrows all-terrain skis  Fiskars SnowXpert shovel,
Peli 1650EU Protector Case,
and snow ladders
Blackcrows all-terrain skis 

If you happen to be in Zell am See, Austria, this weekend, bundle up and check out some ice races and hot laps from Polestar. If you’d rather stay where you are and remain nice and warm, you can enjoy winter driving footage in the Arctic Circle from Polestar below:

https://plstr.car/arctic-circle-documentary

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Oil giant Shell raises dividend despite full-year profit miss

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Oil giant Shell raises dividend despite full-year profit miss

A Shell logo is displayed on May 03, 2024 in Austin, Texas.

Brandon Bell | Getty Images News | Getty Images

British oil giant Shell on Thursday reported a significant drop in annual profit, citing higher exploration write-offs, lower trading margins and weaker crude prices over the final three months of the year.

Shell posted adjusted earnings of $23.72 billion for the full-year 2024, compared to annual profit of $28.25 billion a year earlier.

Analysts had expected Shell’s full-year 2024 net profit to come in at $24.71 billion, according to an LSEG-compiled consensus. A separate forecast from analysts polled by Vara Research expected full-year profit to come in at $24.11 billion.

The energy major posted weaker-than-anticipated adjusted earnings of $3.66 billion for the final quarter of 2024.

Shell announced a 4% increase in dividend per share and launched another share buyback program of $3.5 billion, which is expected to be completed over the next three months.

Speaking to CNBC’s “Squawk Box Europe” on Thursday, Shell CEO Wael Sawan described 2024 as a “very strong year,” one which gave the company a platform “to do everything we said we were going to do.”  

Asked whether it was time for Shell to move its listing from London to New York to close the valuation gap on its U.S. peers, Sawan said the firm was “always reviewing headquarter listings and the like.”

However, “there is no live discussion at the moment on this in Shell because our number one priority is to make sure that we unlock the full potential of this company,” Sawan noted.

The world’s top oil and gas companies have seen profits fall from record levels in 2022, when Russia’s full-scale invasion of Ukraine prompted international benchmark Brent crude to jump to nearly $140 a barrel.

Oil prices have since cooled amid faltering global demand, with Brent crude futures averaging $80 a barrel in 2024. That was about $2 a barrel less than the previous year, according to the U.S. Energy Information Administration.

In a trading update on Jan. 8, Shell trimmed its liquefied natural gas (LNG) production outlook for the final three months of 2024 and warned that trading results for its chemicals and oil products division were expected to be “significantly lower” on a quarterly basis.

Shares of the London-listed company traded 0.7% higher at 8:10 a.m. London time.

‘First sprint’

Shell’s full-year results come as the company enters the final stretch of its so-called “first sprint.” The strategy, which was launched in 2023 and runs to the end of this year, aims to close the valuation gap with U.S. peers by boosting the major’s profitability.

Shell CEO Wael Sawan has prioritized the firm’s more profitable oil and gas operations as part of this shift, while cutting spending on areas such as offshore wind and hydrogen and withdrawing from power markets in Europe and China.

Like other oil and gas majors, Shell has watered down climate targets and green investments in recent years. The company, however, has said it remains committed to becoming a net-zero energy business by 2050.

U.S oil giants Exxon Mobil and Chevron are both scheduled to report earnings on Friday, while European peers TotalEnergies and BP are set to follow suit on Feb. 5 and Feb. 11, respectively.

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