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Are the Korean auto giants facing slowing sales? Hyundai and Kia are offering generous incentives globally, resulting in price cuts worldwide. In some markets, discounts can reach nearly $17,000.

Hyundai Motor, including Kia, has launched aggressive sales promotions this month in six of its biggest global markets: North America, Europe, Asia-Pacific, the Middle East, and Central and South America.

The discounts apply to some of its top-selling EVs, including the IONIQ 5 and SUVs like the Tucson and Santa Fe.

According to the Korea JoongAng Daily, Hyundai and Kia cut prices by up to 23 million won, or nearly $17,000 in some regions.

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The promotions vary depending on the market. For example, in Serbia, Hyundai is offering up to 15,000 euros ($17,500) off the IONIQ 5 and IONIQ 6 models. In Thailand and Chile, discounts reach as high as 12 million won ($8,900) and 17.8 million won ($13,100), respectively.

Why is Hyundai offering such significant discounts? The report suggests that it could be all due to the new 25% US auto tariffs on imported vehicles, Hyundai’s largest market.

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2025 Hyundai IONIQ 5 (Source: Hyundai)

After the tariffs were introduced, Hyundai and Kia reportedly told regional leaders to “increase sales by 10% in other regions.” A local report this week claimed Hyundai was temporarily pausing production of the IONIQ 5 and Kona EV at one of its plants in Korea due to slowing sales.

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2026 Kia EV9 (Source: Kia)

What about the US?

In April, Hyundai launched its “Customer Assurance” program, promising not to raise vehicle prices in the US until June 2. The program has since been extended until July 7.

Although Hyundai is expected to hike prices following the window, the company denied the rumors, saying no decision has been made yet.

Several automakers have already announced plans to raise vehicle prices in the US, including Toyota, Ford, and Jeep maker Stellantis.

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2025 Hyundai IONIQ 5 at a Tesla Supercharger (Source: Hyundai)

About 24% of Hyundai and Kia vehicles sold last year were in the US, making it a priority to protect prices. Although 60% of them were exported from Korea in 2024, Hyundai is ramping up local production to mitigate the blow.

After celebrating the grand opening of its new EV plant in Georgia, Hyundai kicked off production of its first three-row electric SUV, the IONIQ 9.

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2026 Hyundai IONIQ 9 (Source: Hyundai)

The larger electric SUV joins the updated 2025 IONIQ 5, which Hyundai has been building at the facility since last year.

Once up and running, the Hyundai Motor Group Metaplant America (HMGMA) is expected to have an annual production capacity of 300,000 units. If necessary, the output can be expanded to approximately 500,000.

2025 Hyundai IONIQ 5 Trim EV Powertrain Driving Range (miles) Starting Price*  Monthly lease price June 2025
IONIQ 5 SE RWD Standard Range 168-horsepower rear motor 245 $42,500 $179
IONIQ 5 SE RWD 225-horsepower rear motor 318 $46,550 $199
IONIQ 5 SEL RWD 225-horsepower rear motor 318 $49,500 $209
IONIQ 5 Limited RWD 225-horsepower rear motor 318 $54,200 $309
IONIQ 5 SE Dual Motor AWD 320-horsepower dual motor 290 $50,050 $249
IONIQ 5 SEL Dual Motor AWD 320-horsepower dual motor 290 $53,000 $259
IONIQ 5 XRT Dual Motor  AWD 320 horsepower dual motor 259 $55,400 $359
IONIQ 5 Limited Dual Motor AWD 320-horsepower dual motor 269 $58,100 $299
2025 Hyundai IONIQ 5 prices and range by trim (*includes $1,475 destination fee)

After Hyundai cut lease prices again in June, the 2025 IONIQ 5 is now listed starting at just $179 per month. The three-row 2026 IONIQ 9 is available to lease starting at just $419 per month with up to $13,000 in discounts. Kia is currently offering up to $12,500 off its three-row EV9.

Hyundai is even throwing in a free  ChargePoint Home Flex Level 2 charger with the purchase of any new 2026 IONIQ 9 or 2025 IONIQ 5 until the end of the year.

Looking to take advantage of the savings? We can help you get started. You can use our link to find Hyundai and Kia’s electric vehicles in your area.

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Tesla owner admits to driving drunk on Full Self-Driving, proving Tesla needs to do more

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Tesla owner admits to driving drunk on Full Self-Driving, proving Tesla needs to do more

A Tesla owner admitted on video that he drives drunk on Full Self-Driving (FSD) – showing that Tesla doesn’t do enough to prevent abuse of its driver assist system.

29-year-old social media personality Landon Bridges went on comedian Bert Kreischer’s cooking show ‘Something’s Burning’ this week.

During the show, they were drinking, and Bridges admitted to being drunk. While visibly intoxicated, he accepted another drink from Kreischeir and then added:

“You know what’s the biggest game changer for me in 2025? I bought a Tesla, and it has Autopilot.”

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He then looked at Kreischer suggestively – hinting that you can use it when drunk.

Kreischer responded: “Does it work like that?” – suggesting that it is good enough to use while intoxicated – and then said in a drunk voice: “Tesla, take me home.”

The only answer here would be: “No, it’s a driver assistance system and the driver is always responsible for the vehicle and therefore, they can’t be intoxicated to supervise the system.”

Instead, Bridges said:

Yeah. That’s the problem. That’s literally the problem. I’ll go after it. I’ll press the home button (in the navigation system), and as long as you look forward, you are home.

He then suggested that Kreisher, known for his heavy drinking, should consider getting a Tesla with Full Self-Driving.

Here’s the part of the episode where they have the conversation:

Electrek’s Take

This is wild. He openly admits to a potential felony on a YouTube show. The way he is thinking proves that Tesla is not doing enough to communicate to its owners that FSD is not a self-driving system, but rather a driver assistance system that requires the driver’s full attention, meaning sober, at all times.

He says “Autopilot”, but the way he describes the system points to it being “Full Self-Driving (Supervised)” as Autopilot wouldn’t be able to take you through surface streets to take you home.

Tesla has been extremely careless in how it discusses its system publicly.

For example, Tesla recently tweeted that “FSD Supervised gives you back time”:

This suggests that you can do something else while driving, but this is not true based on the automaker’s own warnings and owner’s manual. The driver needs to be paying attention to the vehicle’s driving at all times and be ready to take control.

It is a direct contrast to how Tesla discusses FSD in court after being sued over the numerous accidents involving Autopilot and Full Self-Driving.

In court, Tesla is quick to remind everyone that the driver is always responsible for the vehicle and that, despite its name, Full Self-Driving is only a level 2 driver assistance system, not a level 3-5 automated driving system.

Tesla needs to bring that same energy to its communications with buyers. Otherwise, it contributes to these morons thinking that they can use FSD drunk.

I hope Bridges realizes the carelessness and the danger of his behavior and suggests that others, like Kreischer, should do it.

But it wouldn’t be the first time a Tesla owner would think it OK to use FSD while drunk. We even learned of a crash in 2022 where a Tesla employee decided to use FSD, according to a witness, after day drinking, and his drive ended in a crash, leaving him dead.

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Honda launches the N-ONE e: An $18,000 small EV that delivers big where it counts

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Honda launches the N-ONE e: An ,000 small EV that delivers big where it counts

It may be small, but Honda’s new EV offers “class-leading” range and more interior space than you’d expect. Honda introduced the N-ONE e on Thursday, its first electric kei car, with prices starting at just over $18,000.

Honda launches the N-ONE e, an $18,000 mini EV

It’s pretty rare to find any vehicle, let alone an all-electric one, for under $20,000 these days. In the US, the average asking price for a new car was nearly $52,000 last month.

While some of the biggest names in the auto industry, including Volkswagen, Hyundai, Kia, Ford, and GM, to name a few, are gearing up to launch more affordable EVs, Honda just got a head of the game.

Honda introduced the N-ONE e on Thursday, its first electric kei car. The N-ONE e is Honda’s second mini-EV, following the N-VAN e, launched last year. However, unlike the van, Honda’s new model is designed for passenger use rather than commercial.

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The new EV will go on sale in Japan on September 12, priced from just ¥2.7 million ($18,300). It’s based on the current gas-powered N-ONE, Honda’s retro-looking kei car sold in Japan.

Powered by the same 29.6 kWh battery as its electric van, Honda said the N-ONE e delivers “class-leading range” of up to 295 km (183 miles). That’s even more than the Nissan Sakura, Japan’s best-selling electric car with a WLTP range of up to 180 km (112 miles).

Although it may not seem like much with most EVs offering over 300 miles of range nowadays, it’s perfect for daily commutes in Japan.

Honda said the biggest challenge was ensuring it had enough space to make it fit for everyday use. To open up the interior, the company developed a thinner battery pack that lies flat beneath the floor.

It already has the most popular kei car and best-selling vehicle in Japan, the N-Box, but Honda believes its new EV could be an even bigger hit.

Mini EVs account for about 40% of new car sales in Japan. With more range, interior space, and more, Honda is betting on its small new EV to stay ahead of the competition. Honda expects the market to heat up with rival brands, including global EV leader BYD, Toyota and others, preparing to launch mini-EVs soon.

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Offshore wind has no future in the U.S. under Trump administration, Interior Secretary says

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Offshore wind has no future in the U.S. under Trump administration, Interior Secretary says

U.S.’ Burgum: Reducing Russian gas sales stops funding for Moscow’s war

Offshore wind has no future as a source of electricity generation in the United States under the Trump administration, Interior Secretary Doug Burgum said at an energy conference in Italy this week.

“Under this administration, there is not a future for offshore wind because it is too expensive and not reliable enough,” Burgum told an audience at the Gastech conference in Milan on Wednesday.

It is the clearest statement yet from a senior Trump administration official that the president aims to shut down the nascent offshore wind industry in the U.S. Burgum oversees the leasing and permitting of offshore wind farms in federal waters as head of the Department of Interior.

President Donald Trump barred new leases for offshore wind farms on his first day in office through an executive order that was framed as “temporary.” Trump also ordered a review of permits, but the industry had hoped projects under construction would be allowed to move forward.

But Interior is “taking a deep look” at five offshore wind farms that are already under construction in the U.S., Burgum said Wednesday without naming the projects.

The offshore wind farms under construction are Revolution Wind off Rhode Island; Vineyard Wind 1 off Massachusetts; Coastal Virginia Offshore Wind; Sunrise Wind off New York; and Empire Wind also off New York.

“Yes, they were permitted but they got moved through a very fast ideologically-driven permitting process,” Burgum said at the conference in Italy.

Interior ordered Danish renewable energy company Orsted to halt construction of Revolution Wind on August 22, citing national security concerns. The project is fully permitted and 80% complete with billions of dollars invested, according to Orsted.

Energy Sec. Wright: Big demand for U.S. to displace Russian gas to Europe

Interior had issued a stop-work order for Empire Wind in April, but ultimately let the project resume construction in May after apparently striking a deal over new natural gas capacity.

Burgum told CNBC’s Brian Sullivan this week that the Trump administration is in discussions with Orsted and New England governors on Revolution Wind, though he wouldn’t say that the project might restart work.

“I can’t say for certain because some of these projects are a literal train wreck in terms of their economics,” Burgum told CNBC. “If we were to complete them then we’re just locking in billions and billions of taxpayer money which might be going to a hedge fund.”

Renewable energy executives told CNBC in August that the Trump administration’s attacks on solar and wind will lead to a power crunch that increases electricity prices.

(Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here.)

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