Connect with us

Published

on

Picture taken on September 4, 2023 shows windmills at the Nysted Offshore Wind Farm constructed by Danish windpower giant Orsted in 2002-2003 in the Baltic Sea near Gedser in Denmark.

Thomas Traasdahl | Afp | Getty Images

Norwegian oil giant Equinor on Monday pledged to support Denmark’s Orsted with almost $1 billion of fresh capital, backing the beleaguered company amid sustained attacks on offshore wind projects from the Trump administration.

In an apparent show of confidence in the world’s largest offshore wind developer, Equinor signaled its intention to participate in Orsted’s planned 60 billion Danish krone ($9.4 billion) rights issue and said it intended to hold on to its 10% ownership in the company.

Equinor said its strategic support of the rights issue reflects its confidence in Orsted’s underlying business and the competitiveness of offshore wind in the future energy mix. The state-backed Norwegian energy group is the second largest shareholder in Orsted, behind the Danish government.

As part of the move, Equinor said it would nominate a candidate to Orsted’s board of directors.

Shares of Orsted rose 3.6% on the news, before paring gains. The stock price, which is down nearly 90% from a 2021, peak notched a fresh record low last month after the Trump administration ordered the company to halt work on a near complete windfarm.

Equinor shares were last seen 0.2% higher on Monday morning.

Both companies have been navigating challenges around the offshore wind industry, with Equinor saying it is closely monitoring developments in the U.S., and that it intends to remain in dialogue with Orsted.

The wind industry has been a target for U.S. President Donald Trump since his first day in office. The latest blow came on Friday when the U.S. Department of Transportation canceled $679 million in federal funding for a dozen infrastructure projects that would support offshore wind power nationwide.

“Wasteful, wind projects are using resources that could otherwise go towards revitalizing America’s maritime industry,” Transportation Secretary Sean Duffy said in a statement.

Analysts at RBC Capital Markets said Equinor’s move to support Orsted could be seen as a first step for the company considering the possibility of a potential merger between the two offshore wind portfolios.

“The challenge with participating fully is that the company will effectively increase its net exposure to two 100%-owned US offshore wind projects, neither of which look likely to be farmed down in the near term, and where political support remains uncertain,” analysts at RBC Capital Markets said in a research note.

“The incremental positive is that alongside its maintained shareholding, Equinor will now be having board representation, making the most of a challenging situation,” they added.

Spokespeople for Equinor and Orsted did not immediately respond to a CNBC request for comment.

— CNBC’s Spencer Kimball & Ganesh Rao contributed to this report.

Continue Reading

Environment

GM is already planning to cut EV production, including the all-new Chevy Bolt

Published

on

By

GM is already planning to cut EV production, including the all-new Chevy Bolt

Despite back-to-back record sales months, GM said on Thursday that it’s now planning to build fewer electric vehicles, including the new Chevy Bolt EV that’s not even out yet. GM’s sudden shift comes as it prepares for what it calls “irrational” EV discounts to expire at the end of September.

GM cuts EV production as drastic discounts expire

GM sold over 21,000 electric vehicles in August, the most it has ever sold in a single month. Although that’s nearly double the 10,671 crosstown rival Ford sold last month, it apparently isn’t enough.

In a memo sent to employees, GM announced plans to reduce output at its Spring Hill, Tennessee, plant. A source close to the matter confirmed the news to Reuters, claiming GM will halt production of two Cadillac EVs, starting in December.

The Cadillac Lyriq and larger Vistiq, both of which are built at the facility, will see significantly less output during the first five months of 2026.

Advertisement – scroll for more content

According to the source, GM plans to suspend one of its two shifts at the facility, resulting in layoffs for workers on the second shift.

GM-EV-discounts
Cadillac ESCALADE IQL electric SUV (Source: Cadillac)

In what could be even bigger news, the source said GM is delaying the start of a second shift at its Fairfax assembly plant outside of Kansas City “indefinitely,” where the new Chevy Bolt EV is scheduled to enter production later this year.

GM said it was “making strategic production adjustments in alignment with expected slower EV industry growth and customer demand.”

Chevy-Bolt-EV
GM plans to build a “next-gen affordable EV) in Kansas (Source: GM)

After reporting August sales numbers, the company said it expects to see strong EV demand in September, but after the $7,500 federal tax credit expires at the end of the month, it expects a slowdown in the fourth quarter.

“We are seeing marginal competitors dramatically scale back their products and plans, which should end much of the overproduction and irrational discounts,” GM said. Although it anticipates a smaller EV market, GM still believes it can grow its market share.

Popular-Cadillac-SUV
2026 Cadillac Vistiq electric SUV (Source: GM)

The news comes after GM announced last week that it plans to slow production of the GMC Hummer EV and Cadillac Escalade IQ at its Factory Zero plant in Detroit.

Electrek’s Take

Through the first eight months of the year, GM remains the second-best-selling EV maker, behind Tesla. The Chevy Equinox EV, or “America’s most affordable 315+ range EV,” is expected to be the third most popular EV in the US in 2025, trailing only the Tesla Model Y and Model 3.

Later this year, we should get our first look at the new Chevy Bolt EV, which could be an even bigger hit. GM now offers an EV in nearly all segments, including entry-level, pickups, SUVs, and luxury.

Cadillac claims to be the leading luxury EV brand in the US, but that doesn’t include Tesla. With plans to slow output, it could open the door for other brands, like Hyundai, Kia, Volvo, and others, to gain ground.

Looking to lock in the savings while they are still available? You can use the links below to find Chevy, Cadillac, and GMC models in your area.

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

Continue Reading

Environment

Rad Power RadRunner e-bike extra battery bundles from $1,499, EcoFlow DELTA Pro station new $1,597 low, ALLPOWERS, more

Published

on

By

Rad Power RadRunner e-bike extra battery bundles from ,499, EcoFlow DELTA Pro station new ,597 low, ALLPOWERS, more

Today’s Green Deals is packed with a bunch of first-time savings, headlined by Rad Power’s Fall Savings Sale that is offering up to $649 in savings through price cuts, extra battery bundles, accessory bundles, and other savings. Among the lineup, we’re seeing the first chance to score Rad Power’s new RadRunner Cargo Utility e-bike and its upgraded Plus variant with extra batteries for doubled mileage starting from $1,499. From there, we also spotted a special promotion from EcoFlow on its DELTA Pro Portable Power Station at a new $1,597 low, as well as the first savings hitting ALLPOWERS’ new SOLAX P100 Portable Mini Power Station at $69. There’s also the multi-packs of solar-powered lights, Segway power stations/solar panels getting big discounts, and more waiting for you below. Plus, there are all the hangover deals collected at the bottom of the page, like yesterday’s Electric Bike Co. Model C and J e-bike annual lows, the exclusive refurbished Anker SOLIX deal, and more – and that’s on top of the ongoing Labor Day deals still available in our curated holiday Green Deals hub here.

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.

Rad Power Bikes has launched its Fall Savings Sale through October 1, which is offering select discounts and a bunch of free extra battery bundles on new and legacy e-bikes. That’s not all, as you can also get a free Just-in-Case Kit ($316 value) with select models (all that is laid out below the fold) and discounted batteries for those already riding the brand’s e-bikes. Among the models getting a free extra battery for double the mileage is Rad Power’s new RadRunner Cargo Utility e-bike at $1,499 shipped and RadRunner Plus Cargo Utility e-bike at $1,799 shipped, which are both getting a free 10Ah Safe Shield Battery ($449 value) – just be sure to add both to your cart for the automatic discount to be applied. These new models hit the market back at the end of April and have only seen smaller bundle packages attached in past sales, with this not only being the first time we’re seeing extra batteries offered with your purchase, but these are the biggest bundles to be attached to date. Head below for more on these e-bikes and the other deals we see during this sale.

Starting with this new series’ standard model, Rad Power’s base RadRunner e-bike, along with the Plus model, is a refreshed variation that continues providing simplicity while still not shying away from improving on its predecessor’s design. It’s been equipped with a 750W rear hub motor that works with the 624Wh SafeShield battery to hit 20 MPH top speeds for up to 55+ miles (110+ miles with extra battery) of pedal-assisted travel. What’s really great here is the 320-pound payload that allows for plenty of cargo hauling for riders of smaller sizes/weights, while still providing commuting support for larger folks. Among its features, you’ll find a Gemma Hydraulic GA-950E brake system, puncture-protected multi-surface tires, a color display, an LED headlight and integrated taillight with brake lighting, auto ambient light sensor, daytime flashing lights, memory setting, 4 lighting modes, and more.

Advertisement – scroll for more content

On the flip side of the series, the Rad Power RadRunner Plus e-bike sports the same motor and battery combo, hitting the same speeds and travel range when its five pedal-assistance levels are activated. The big difference, in terms of its travel support, is that this model (and the advanced Max model) comes compatible with the new Range Extender, which allows for both batteries to be connected simultaneously, as opposed to needing them to be switched out like the above model. This Plus variation comes with a rear cargo rack that has a removable passenger seat (and 120-pound payload), retractable foot pegs, and a protective wheel skirt, so offering rides can begin immediately. There are also the smarter features, like the passcode access protections, joining the lineup of physical upgrades including a front suspension, hydraulic disc brakes, puncture-protected all-terrain tires, a color display with a USB port, and more.

Rad Power’s Fall Savings Sale e-bike discounts/battery bundles:

Rad Power free Just-in-Case kit bundles (add both to cart):

Rad Power’s SafeShield Battery deals:

  • 15Ah Safe Shield Advanced External Battery: $449 (Reg. $599)
    • compatible with RadExpand 5, RadMini 4 High-Step, RadRover 5 High-Step, RadRunner 1, 2 & Plus, RadTrike, RadWagon 4
  • 15Ah Safe Shield Advanced Semi-Integrated Battery: $449 (Reg. $599)
    • compatible with RadRunner 3 Plus, RadRover 6 Plus, RadCity 5 Plus, Radster Road, and Radster Trail
woman pulling EcoFlow's DELTA Pro power station by handle down walkway

EcoFlow is providing a 57% discount on its DELTA Pro 3,600Wh power station to new $1,597 low

EcoFlow is offering a special promotion for the best price yet on its DELTA Pro Portable Power Station at $1,597.06 shippedafter using the promo code EFAFD6 at checkout for an additional 6% off, which beats out the current Amazon pricing by $202. This model carries along a $3,699 MSRP, though we usually see it starting around $2,799 over at Amazon, with discounts having taken things as low as $1,694 there, while some direct sales from the brand have dropped things as low as $1,614 thanks to extra savings codes. While this promotion lasts through September 21, you’ll be getting a 57% markdown off the MSRP that saves you a grand total of $2,102 off that same high rate and lands it at a new all-time low price.

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

ALLPOWERS' P100 power station packed in suitcase and also carried by man through field
Photo: BLUETTI

ALLPOWERS’ new two-pound airline-approved SOLAX P100 99Wh power station gets first savings to $69

ALLPOWERS is offering the first chance at savings on its latest SOLAX P100 Portable Mini Power Station for $69 shipped. This all-new compact charging solution just hit the market last month and normally carries a $199 price tag outside of discounts. As I mentioned, this is the first time we’re seeing discounts offered on this device, which is also matching in price over at Amazonafter clipping the on-page coupon. All-in-all, you’re looking at a massive 65% markdown that cuts $130 off the tag price and sets the bar for future discounts down the road.

If you want to learn more about this all-new compact power solution, be sure to check out our original coverage of this first-time deal here.

split photo showing Linkind's smart solar spotlights on at night and off during day

Bring color and music syncing to your outdoor areas with Linkind’s smart solar spotlights starting from $23

Through its official Amazon storefront, Linkind is offering its SL5C Smart Solar Spotlights two-pack for $22.98 shipped, with its larger four, eight, and 14-pack bundles also getting discounts on the same page. Carrying a regular price tag at $35 and usually falling to $24.50, it is now back down at one of the lowest prices we have tracked to date, landing just $2 above the low we last saw in April.

If you want to learn more about these lights’ capabilities, be sure to check out our original coverage of this deal here.

Segway's cube 1000 and 2000 power stations sitting atop rocks with blue sky in background

Save up to 55% on Segway’s Cube series power stations and solar panels starting from $170

Segway is offering some major savings on its Cube 1000 Portable Power Station down at $449.99 shipped, which is unavailable at Amazon, while the Cube 2000 Portable Power Station has dropped to $849.99 shipped, and is matching in price at Amazon right now. These two backup solutions usually go for $1,000 and $1,700 at full price, which we’ve mostly seen taken down to $500 and $900 with 2025 discounts. While these are not the lowest prices we’ve seen, they are the next-best rates that save you $550 and $850 off their MSRPs. Head below for more on these stations and the parallel solar panel discounts.

If you want to learn more about these stations, or browse the full lineup of deals, be sure to check out our original coverage of this sale here.

man approaching Lectric ONE e-bike on pavement
two men riding Lectric's XP4 e-bikes

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.

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

Continue Reading

Environment

Hyundai’s new affordable EV shows up with a surprise while charging

Published

on

By

Hyundai's new affordable EV shows up with a surprise while charging

With its official debut less than a week away, the Hyundai IONIQ 3 was spotted charging with what appears to be an NACS charging adapter. The new sighting is sparking speculation that Hyundai’s affordable new EV could arrive in the US after all.

The Hyundai IONIQ 3 is an affordable EV, with NACS?

Earlier this week, Hyundai confirmed its first compact EV under the IONIQ branding will make its global debut at the Munich Motor Show, starting on September 9.

Hyundai offered a sneak peek with a few teaser images. Although they were mainly sketches and close-ups, you can see that Concept THREE has a bold new design, featuring a massive rear ring and a sleek, fastback-like profile.

The concept will arrive as the IONIQ 3 in production form sometime in 2026, a smaller, more affordable sibling to the Hyundai IONIQ 5.

Advertisement – scroll for more content

Hyundai claims the Concept Three is “a new typology that reimagines the compact EV silhouette,” featuring a fresh take on the “Aero Hatch” design.

Leading up to its debut, we’ve seen a few camouflaged prototypes out testing, but the most recent one reveals a new surprise.

Hyundai's-affordable-EV
Hyundai teases new Concept THREE EV ahead of the 2025 Munich Motor Show (Source: Hyundai)

The IONIQ 3 was caught charging in Korea by ShortsCar (via The Korean Car Blog), with what appears to be an NACS port, hinting that Hyundai’s affordable new EV may launch in the US.

Hyundai said the new EV concept reaffirms its commitment to the European market, with no mention of North America or plans to launch in the US. However, with an NACS port, it would only make sense, right? Not exactly.

Kia, Hyundai’s sister company, is launching the EV5 in Europe and North America, but not in the US. The company announced the EV5 will be exclusively sold in Canada for the North American market. In Canada, it will feature an NACS port, so until we hear the official word, it’s still speculation at this point.

The new entry-level model will sit between the Inster EV and Kona Electric in Hyundai’s lineup. Prices will be revealed closer to launch, but it’s expected to start at around £25,000 ($33,700), or slightly less than the Kona.

Hyundai's-affordable-new-EV
Hyundai teases new EV concept ahead of the 2025 Munich Motor Show (Source: Hyundai)

Like nearly every Hyundai, Kia, and Genesis electric vehicle, it will be based on the E-GMP platform. It will likely be available with 58.2 kWh and 81.4 kWh battery packs, offering WLTP ranges of 260 miles and 365 miles, similar to the Kia EV3.

The interior, on the other hand, will bring several upgrades from Hyundai’s current models. It’s expected to debut with Hyundai’s powerful new Pleos infotainment system, which will offer a smartphone-like interface.

We will get our first look at the Concept THREE next week at IAA Mobility 2025. Check back on September 9 for all the details from Hyundai’s press conference.

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

Continue Reading

Trending