A woman on the bicycle rides pass the power station in Neurath, Germany.
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LONDON — The European Union could struggle to advance its green agenda as gas prices soar across the bloc, according to experts who warn against slowing down investment into the sector.
The European Commission, the executive arm of the EU, has vowed to become carbon neutral by 2050, presenting a concrete plan to reduce greenhouse gas emissions by at least 55% from 1990 levels by the end of this decade.
However, these ambitions could be hit as a natural gas shortage on the continent drives prices higher. The front-month gas price at the Dutch TTF hub, a European benchmark, has risen more than 250% since the start of the year. It traded at about 74 euros ($87) a megawatt-hour on Tuesday — just shy of its record high of 79 euros it hit last week.
You can’t stop financing windmills for people’s bills.
Jacob Kirkegaard
senior fellow, German Marshall Fund of the United States
The recent spike is already having a tangible impact. Spain, for instance, has announced emergency measures to limit the profits that energy companies can make from gas alternatives, including renewables. The government is also hoping to cap what consumers are paying for their electricity.
“Soaring energy prices have hit economies across Europe, and if Madrid’s actions are imitated elsewhere as governments prioritize cheap energy over the green transition, the EU’s credibility in advancing global climate action could take a hit,” Henning Gloystein, director of energy at the consultancy firm Eurasia Group, said in a note Friday.
Spain is not the only country to cap energy price increases, with France and Greece making similar moves. But the plan in Spain has been the subject of some criticism.
Iberdrola, a Spanish energy firm with a focus on renewables, said the move “would undermine investor confidence in the country” at a time when the nation needs private money to achieve its climate ambitions.
Had we had the green deal five years earlier, we would not be in this position.
Frans Timmermans
EU Climate Chief
“The risk to climate policymaking lies perhaps mostly in a loss of credibility ahead of the global COP26 climate talks in Glasgow later this year,” Gloystein told CNBC via email.
“If wealthy countries in the EU are seen subsidizing energy for households that is in part supplied by fossil fuels, then the EU can hardly tell poorer countries to stop subsidizing household fuel consumption supplied by fossil fuels,” Gloystein added.
Meanwhile, Jacob Kirkegaard, senior fellow at the German Marshall Fund of the United States think tank, said he is not overly worried at this point, but that the ongoing energy crisis “makes it even more important that the Spanish government finds other sources of financing.”
“You can’t stop financing windmills for people’s bills,” he said, adding that countries should not ease their investments in greener energies.
The EU’s fault?
There is a wider problem, however: Some European leaders and lawmakers have blamed the EU for the energy price increases.
Polish Prime Minister Mateusz Morawiecki, for instance, said earlier this month that “Polish power prices are tied to the EU’s climate policies,” according to Politico.
When asked if comments like these could hurt the EU’s green ambitions, Kirkegaard said: “There’s absolutely that risk because clearly the Polish government want to extract more money from the EU for the green transition.”
Vapor rises from the cooling towers of the Turow coal powered power plant, operated by PGE SA, in Bogatynia, Poland.
Bloomberg | Bloomberg | Getty Images
Poland said Monday that it will keep a coal mine running, even though the European Court of Justice ruled it should be shut down. Under the same ruling, Krakow has to pay a 500,000 euro fine for every day that it keeps the mine open.
The EU’s climate chief, Frans Timmermans, has insisted that the price increases are not the bloc’s fault. “Only about a fifth of the price increase can be attributed to CO2 prices rising,” he told the European Parliament earlier this month. “The others are simply about shortages in the market.”
“Had we had the green deal five years earlier, we would not be in this position because then we would have less dependency on fossil fuels and natural gas,” he added.
‘Fair green transition’
Kirkegaard said that “it is too early to tell” if the price rises are going to jeopardize the EU’s green ambitions. The biggest risk, in his opinion, is whether public support for a greener economy falls because it is perceived to be impacting on their bills.
The European Commission announced earlier this summer that there would be special funds allocated to support the most vulnerable parts of the population in this green transition. The question is whether that will suffice.
“This must be a fair green transition. This is why we proposed a new Social Climate Fund to tackle the energy poverty that already 34 million Europeans suffer from,” Ursula von der Leyen, president of the commission said at a speech last week.
Hyundai’s first three-row electric SUV is finally here, and it’s even better than we expected. The IONIQ 9 arrives with “class-leading” interior space, up to 335 miles of range, and much more. Hyundai is showing off just how spacious the IONIQ 9 really is.
Hyundai highlights how spacious the 3-row IONIQ 9 is
It’s been less than two months since the first IONIQ 9 models rolled off the assembly line at Hyundai’s massive new manufacturing plant in Georgia.
With its first three-row electric SUV about to reach dealerships any day, Hyundai wants you to know that the IONIQ 9 is spacious enough for just about anyone.
“The IONIQ 9 is more than just a vehicle; it’s a space where life happens,” Hyundai Motor America’s marketing chief, Sean Gilpin, explained.
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Hyundai launched a new ad campaign on Friday, ” Space to Connect, ” to highlight the SUV’s class-leading interior space.
With the second and third-row seats folded, the IONIQ 9 boasts up to 2,462 liters (87 cubic feet) of interior cargo space. That’s even more than the 2025 Ford Explorer with up to 2,429 liters (85.8 cubic feet). With all seats upright, the IONIQ 9 still has 620 liters of cargo capacity.
It’s not only spacious, but the IONIQ 9’s interior is packed with Hyundai’s most advanced software and connectivity tech.
As part of a curved panoramic display, the infotainment system includes dual 12″ driver display and infotainment screens.
Earlier this month, Hyundai announced that the 2026 IONIQ 9 will start at $58,995. With a $1,600 destination fee, the base RWD S model, which has a range of up to 335 miles, also starts at $60,555.
For $64,365 (including destination), you can upgrade to the AWD SE model with 303 horsepower and 320 miles range. Meanwhile, the range-topping IONIQ 9 AWD Performance Calligraphy Design trim, which gets added Matte paint, 21″ wheels, and 311 miles driving range, starts at $78,090.
2026 Hyundai IONIQ 9 Model
EV Powertrain
Drivetrain
Driving Range (miles)
Starting Price (including destination fee)
IONIQ 9 RWD S
160-kW (215-HP) Electric Motor
Rear- Wheel Drive
335
$60,555
IONIQ 9 AWD SE
226.1 kW (303-HP) Dual Electric Motors
All-Wheel Drive
320
$64,365
IONIQ 9 AWD SEL
226.1-kW (303-HP) Dual Electric Motors
All-Wheel Drive
320
$67,920
IONIQ 9 AWD PERFORMANCE LIMITED
314.6-kW (422-HP) Dual Electric Motors
All-Wheel Drive
311
$72,850
IONIQ 9 AWD PERFORMANCE CALLIGRAPHY
314.6-kW (422-HP) Dual Electric Motors
All-Wheel Drive
311
$76,590
IONIQ 9 AWD PERFORMANCE CALLIGRAPHY DESIGN
314.6-kW (422-HP) Dual Electric Motors
All-Wheel Drive
311
$78,090
2026 Hyundai IONIQ 9 prices and driving range by trim (*including a $1,600 destination fee)
The IONIQ 9 has a native NACS port to access Tesla Superchargers. Using a 350 kW DC fast charger, it can charge from 10% to 80% in as little as 24 minutes.
While you wait for the three-row IONIQ 9, Hyundai’s smaller IONIQ 5 is currently on sale. With leases starting at just $209 per month, the IONIQ 5 is hard to pass up right now. You can use our link to find Hyundai IONIQ 5 models at a dealer near you today.
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Federal tax credits are starting to waver under the current administration, but as of May 2025, you can still take advantage of up to $4,000 off the purchase of a used EV. If you’d rather not listed to me talk, you can skip right to all the BEVs and PHEVs that currently qualify by clicking here.
How the current tax credit works for used EVs
As part of revised terms in the Inflation Reduction Act signed by President Biden, federal tax credits have been extended (for now) and include revamped benefits for used EV purchases. That said, your used EV purchase must fit certain criteria to qualify for a credit up to $4,000. Per the IRS:
Beginning January 1, 2023, if you buy a qualified previously owned electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a previously owned clean vehicle tax credit under Internal Revenue Code Section 25E.
Used EVs face terms that offer a credit equal to 30% of the sale price (up to $4,000). That should help consumers like yourselves get some change back in their pockets at the end of the fiscal year, as long as you stick to these terms as outlined by the IRS.
To qualify as a customer, you must:
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Be an individual who bought the vehicle for use and not for resale
Must be an individual (no businesses)
Not be the original owner
Not be claimed as a dependent on another person’s tax return
Not have claimed another used clean vehicle credit in the 3 years before the EV purchase date
Modified adjusted gross income must not exceed $75k for individuals, $112,500 for heads of households, and $150k for joint returns
Additionally, in order for used EV to qualify for federal tax credits, it must:
Have a sale price of $25,000 or less
Have a model year at least 2 years earlier than the calendar year when you buy it
For example, a vehicle purchased in 2023 would need a model year of 2021 or older
Not have already been transferred after August 16, 2022, to a qualified buyer
Have a gross vehicle weight rating of less than 14,000 pounds
Be an eligible FCV or plug-in EV with a battery capacity of least 7 kilowatt hours (kWh)
Be for use primarily in the United States
Purchased from a certified dealer:
For qualified used EVs, the dealer reports required information to you at the time of sale and to the IRS
A used vehicle qualifies for tax credit only once in its lifetime
These used EVs qualify for credits as of May 2025
It’s important to note that this is not the end-all, be-all list of used EVs that qualify for tax credits in the US. As always, we recommend speaking with a tax professional and EV dealer directly to ensure what you and your new vehicle qualify for. Without further ado, here are the all-electric models that currently qualify:
Tesla (TSLA) shareholders were getting excited on social media about a “Tesla prototype” that turned out to be a competitor’s prototype vehicle.
A new electric vehicle prototype started showing up on social media, and Tesla shareholders started sharing it, assuming it was a Tesla prototype.
A Tesla shareholder part of the “Rebellionaire” group on X, a group of Tesla stock pumpers, even shared it, claiming that it is “what gets him ultra bullish” on Tesla:
The only problem is that it wasn’t even a Tesla prototype.
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Faraday Future (FF) came out and confirmed that it is a prototype mule of their new ‘Faraday X’:
That’s our testing vehicle, a Faraday X Prototype Mule.
FF is better known for its very high-end FF91, but it is currently developing less expensive next-generation vehicles under its new Faraday X brand.
Tesla shareholders got excited because some are still holding on to the idea that Tesla is going to release new cheaper electric vehicles under new models.
Tesla has confirmed all that in their most recent financial results and earnings calls, but some are still holding on to the idea that Tesla plans to release completely new models due to Musk’s comments.
Electrek’s Take
I think part of Tesla’s problems right now are due to its shareholder base not recognizing its problems and blindly believing what Elon Musk says, despite a long history of misleading and plain wrong.
This is a prime example.
Tesla has now confirmed what we have been reporting for a year: the new vehicles are just going to be stripped-down versions of Model 3 and Model Y.
No new models are coming to market other than supposedly the Cybercab, but as long as this is only planned without a steering wheel, it is useless until it can solve unsupervised self-driving, which it has yet to do.
This is a problem that shareholders are either ignoring or don’t believe.
Tesla launched a single new model in the last five years, the Cybertruck, which was a commercial flop.
At some point, shareholders must wake up and realize that Musk is destroying Tesla’s EV business and that self-driving vehicles are not coming to save the day.
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