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The lowest-priced EV in the US is somehow also one of the best. Now in its sixth year, the Bolt EV is also seasoned, having worked through a battery fiasco/recall and significant lapses by GM’s decision-makers while receiving modest but significant updates.

With a clean bill of health, the Bolt is now an huge outlier in bang-for-buck. But the 2023 Bolt is also quick, fun to drive, useful, and often more so than cars twice its price. In fact, I think we should be looking to the diminutive Bolt as the future of transportation.

2022 EV landscape

2022 was an interesting year for EVs. The leader in the space, Tesla, still commands over 60% of the market share in the US and many developed countries. But as traditional automakers ramp up their EV output, that dominance will recede. The Austin-based company hasn’t really done too much in the way of upgrading its cars this year, however. Instead it focused on production, opening new plants in Austin and Berlin and ramping up its Shanghai plant while achieving record breaking quarters, one after another.

There were a ton of new vehicles we loved, however, including E-GMP platform vehicles from the greater Hyundai including the quick charging and beautifully equipped IONIQ 5, Kia EV6 and the Genesis GV60. The IONIQ 6 is coming along as are future vehicles (Ev9, etc) on this platform. If this award was for platforms, the E-GMP would probably take it.

There’s also the hot-selling Ford Mustang Mach-E and F-150, the beautiful Cadillac Lyriq, VW’s improved ID.4 that is now made in Chattanooga with Plug and Charge and V2G coming. But there’s one thing that sticks out about all of these EV CUVs: The sticker price starts at around $50,000.

On the more mundane side, Hyundai/Kia offer the Kona/Niro for around $40,000 and the aging 40kW CHAdeMO-equipped Nissan LEAF comes in at $29,000, but to get over 200 miles of range, you have to add close to $10,000.

The chip shortage, supply chain issues and just overall supply and demand issues for EVs let almost every EV maker jack up their prices in 2022. Some as much as $20,000 or more.

Then there’s the mighty Chevy Bolt EV which actually saw a $6000 decrease in price this year to an outlier price starting at $25,600. That price is changing the game and allowing more people get a full, non-compliance EV. The longer EUV is only $1600 more and offers some of the best Autonomy options on the road. But low price is only part of the equation. (We’re not the only ones seeing this)

Recent Electrek Vehicles of the Year winners:

My history with the Bolt and background

I leased a 2017 Chevy Bolt EV from 2017 to 2020. During the pandemic, I decided not to buy out my lease partially because I wasn’t driving but also GMC raw dogged me on buyout price, offering more than a new Bolt. Turns out the joke’s on them because soon after I surrendered my beloved Bolt, the vehicles started catching on fire.

I’ve also reviewed just about every other EV out there, including everything from Minis to Mercedes and everything in-between. I’ve also owned every Tesla outside of the Roadster (and Semi, I guess) and currently own a Model Y and 3.

I often compare all of these cars to my previous and future Bolts in my head and often they come up short.

After the Bolt price drop and my mom’s Prius started faltering, I decided to buy my mom a Bolt EV. I liked that car so much, I again bought myself one. It was delivered yesterday, and it is now my daily driver. I expect to sell my 2018 Tesla Model 3 RWD long range for more than the $28,000 I paid for my Bolt EV. My family will still use the Model Y for long trips, and we’ll reassess if and when our Rivian R1S ever arrives (likely the Bolt will eventually go to the teenager).

Bolt EV vs. Bolt EUV

The EV and EUV are incredibly similar, starting with the exact same battery pack, charging system, motor, and electronics. But, the EUV is 6.3 inches longer, translating to three more inches of rear legroom and a few inches each in the rear compartment and front. The rear legroom in the EV vs. EUV goes from “passable” to “oddly more than enough.” The EUV, having been introduced last year, also has some additional options including the sunroof and SuperCruise, which works incredibly well. As a 6-footer, I have no problem sitting in the back of either vehicle unless there is a fifth person in the middle of the rear seat. Then, you are counting down the seconds until the trip ends.

The biggest difference in the two models is the profile appearance with the EUV representing the extremely popular CUV trend and the Bolt looking more like a tall “hot hatch,” or as Chevy used to call it a, “Micro-Crossover.”

Strangely, however, the shorter Bolt EV has more cargo space than the EUV. Is there some sort of wormhole in there? I’m told the shape of the rear end of the EV more than makes up for those extra length inches in the EUV. I don’t see it, but I’ll trust Chevy. My take is the EV is remarkably roomy inside for its footprint.

Bolt EUV cargo volume

  • 16.3 cubic feet behind the second row
  • 56.9 cubic feet with the second row folded down

Bolt EV cargo volume

  • 16.6 cubic feet behind the second row
  • 57.0 cubic feet with the second row folded down

The EV, because of its smaller size and weight, gets slightly more range (247 to 259 miles), and therefore adds slightly more efficiency and charge miles/minute. 60-0 braking is also slightly shorter for the Bolt EV. Maybe most importantly the EV hits 0-60 in 6.4 seconds which feels a lot faster than the .3 seconds slower EUV. Something to consider with EVs vs. ICE cars: You can absolutely gun it at every green light and not be ostracized like you would in a down/gear shifting, loud, jerky internal combustion engine vehicle.

So the EV is faster, smaller, more efficient, better at braking, and yet has more cargo space than the EUV?

We’re awarding both cars our car of the year, but if I had to drill it down to the EV vs. the EUV, I’d go with the smaller EV.

Bonus charging offered by Chevy

On top of the Bolt’s low price, Chevy also offers up to $1000 through Qmerit for Level 2 charger home installation, or $500 in EVGO credit. As I discussed in my post about getting my mom a Bolt, my Qmerit experience was awful; but after a ton of complaining, I did get a Nema 14-50 outlet.

Chevy also offers a free charging cable with the Bolt EV and EUV, though upgrading the EV to level 2 is a $295 option. With Volkswagen and Tesla removing the free charging cables from their cars, Chevy’s offer here is fantastic and gets drivers off on the right foot.

Time to think holistically – not just about EV vs. ICE

After driving a HummerEV and Ford F-150 Lightning, I started to wonder if we’re better off electrifying these behemoths of the road or just getting rid of them altogether. In a time where battery supply is the bottleneck to electrification, the HummerEV is carrying 4 EVs or 10 PHEVs worth of batteries on its 9000lb. body. It also takes three efficient cars worth of electricity to go the same mile in a huge truck. That’s not to even bring up the dangers of being way up in the air and driving these huge heavy trucks at highway speeds. Not only is bicycle and pedestrian visibility limited, but they absolutely destroy anything they crash into including school busses. Sure, some small percentage of pickup drivers actually do work in them, but we somehow got by with Ford Maverick-sized trucks 20 years ago, and we should probably strive to go back to that.

Comparatively, the Bolt is refreshingly small, meaning parking is easy and there’s a ton of extra space in your garage. Yet, with its height and low floor entry points, it is super easy to get into not just for aged and accessibility folks. The low side windows and sloping hood make it easy to see kids and bikers in front of and around the car. The Bolt got a 5-star-safety-rating from NHTSA, and though it might not fare well against a Hummer, it will keep occupants as safe as possible.

It also has tons of room and even more when you fold the seats down (see above).

Wireless CarPlay and Android Auto is a gamechanger

As a Tesla driver, I’m always pleasantly surprised when I get into a CarPlay or Android Auto-based vehicle. I just don’t see anyone beating Apple and Google in the UX space, and it has become quite standard in the car space. Responding to texts is way easier, and the voice recognition is an order of magnitude better. Apps that I want are there and updated in a timely manner.

I was taken aback recently when I reviewed the Genesis GV60. This luxury car with all of the bells and whistles still required you to plug in your phone to use CarPlay. This review might have pushed me over the edge. CarPlay is great, but wouldn’t it be cool if my phone could just be in my pocket?

And that’s the experience with the Bolt. You get in the car turn it on and go. It connects to the phone in your pocket (or you can put it on the wireless charging pad or even plug into the USBA/USBC plugs like a caveman). You’ve got your favorite apps, music and are ready to go. It Just Works™.

Downsides to the Bolt

Every vehicles has some downsides, but I’d argue that the Bolt has relatively few. Let me try to explain these away…

54kW DC fast charging limit. This one is particularly painful because it was called out six years ago. GM decided, again and again, not to upgrade it citing cost and complexity concerns. Even just getting it over 100kW would have been a big psychological boost, and the thing can re-gen at 70kW, so it is pretty obviously capable of updating.

That said, most folks don’t go over 260 miles on all but a few days of the year, and if so, there are a ton of CCS charging options now. Even better, with Plug and Charge/Autocharge+ from EVGO it is super easy – you just plug in to charge (after a quick setup). One thing to consider is that with the Bolt’s efficiency, it charges much faster on a miles-per-minute basis. For instance, it will get just as many miles as a Ford F-150 Lightning charging at over 100kW.

I’ve easily road tripped in a Bolt before and realistically, that means I have to stay an extra 15-30 minutes per charging session and heck, people have driven their Bolts from Ohio to Alaska. At peak charging rate of 54kW, you’ll get 100 miles of range in a half hour of charging. Relax!

The overriding point is that if you don’t do a lot of road tripping and have a home charger where you’ll wake up every morning with 260 miles of range, the DC charging speed limit isn’t a dealbreaker.

FWD vs. AWD Putting front wheel drive into an EV isn’t as straight forward a decision as an ICE vehicle with the weight of the motor over the front wheels. EVs have equal weight between the tires and will see diminishing returns.

With the Bolt’s instant torque and low resistance wheels, I chirp out a lot more than I mean to, especially on rainy or icy roads and on gravel. This can be mitigated somewhat by changing out for worse range, grippier tires. I was told once by a Bolt engineer that they were fixing that but they never did.

The flip side is that the front wheel drive allows for a lot more regeneration of power than a RWD would. The Bolt offers some of the best and most complete one wheel driving available, especially with the always-on regen button and steering wheel paddle to add up to 70kW of braking.

I still would have loved to see an AWD option on the Bolt even if it was just putting a light sub-100hp motor on the back wheels for snow and a little more pickup. Chevy is offering this kind of small motor option to get the Equinox to AWD.

Chevy is perhaps seeing the light here offering the upcoming Ultium Blazer SS in not only FWD and AWD options but, in a first, offering RWD version as well. It can do this because adding motors to EVs is an order of magnitude easier than ICE vehicles. Just not easy enough to add to the Bolt apparently.

Size and shape. I happen to love the look of the Bolt EV but I think I’m in the minority, certainly of Electrek writers. Most people see the EUV as the better looking variant, but I just see it as another CUV in a sea of CUVs on American roads. I, for one, appreciate the uniqueness of the Bolt EV’s form factor. It’s a HOT HATCH! I wonder if GM could have made something look more like the Mini or GTi.

The interior quality is what I would call middle of the road. Seats are comfy and an upgrade from earlier Bolts, but nothing about this car says luxury; it is designed well, but not over the top. Chevy inexplicably changed the shifter in the Bolt to push/pull buttons which I’m still getting used to.

Both Bolts are quite narrow, and the driver ends up being pretty close to the passenger – sharing that small armrest can sometimes feel like a movie theater or a flight. And that back row middle seat? Small people only.

Bolt Fires. A problem was identified with LG’s manufacturing process in Bolt Batteries in 2020 that very rarely caused fires in previous years battery packs. A sting of Bolt fires and GMs refusal to comment got a ton of negative publicity. The cause of the fires was discovered and fixed. Then GM, mostly funded by LG laboriously replaced all previous battery packs. The packs manufactured now are fixed and should function properly. GM did the right thing here.

Dealers. I’ve had to deal with two Chevy dealers in the last two months getting Bolts for myself and my mom. The experience with hers was typical of my past experience, which means, not great. They tried to trick her into a maintenance package after we’d already paid for the car and didn’t handle the Qmerit mess very well either.

Mine here in New York wasn’t bad (Mt. Kisco Chevy). Mike D. was pretty realistic once I told him my expectations and that I knew exactly what I wanted. Bravo to him. He was well prepared and paperwork took about 15 minutes. As a former Bolt owner himself, he just let me go with a handshake. The one downside was I got a hard sale from a lying OnStar salesman on the phone who then abruptly hung up after I didn’t bite. Sheesh.

Vehicle to grid/load/etc.

It is 2023, and all EVs should build in a simple pure Sine Wave inverter that would allow the car to provide AC power to a campsite, worksite, or to the home during an electrical outage. The Ford F-150 highlighted this untapped demand with 10kW of output, and the E-GMP platform cars recently added a smaller 2kW capability.

Unfortunately, the Chevy Bolt has nothing of the sort (we saw some plugs in the upcoming Chevy Equinox and Silverado), but thankfully it is really easy to access the 12V subsystem that is fed by a 1.6kW DC-DC converter from the main 400V battery. That means it is easy to plug in an inverter and take over a kilowatt of power out of the Bolt…. for days.

DIY Solution. I’ve simply alligator-clipped a 1kW continuous/2kW peak inverter onto my Bolt’s 12V lead acid battery to run a refrigerator and internet connectivity in the past. However, I recommend formalizing this setup with something like the purpose-built and fused $180 EV Extend, which actually makes it a lot easier to hook up your inverter and get power out of your Bolt. Assuming a small house/cottage idles below 1kW and doesn’t go over 2kW, the Bolt can keep your house/cottage/campsite powered for over two days. If nothing else, it will keep your fridge and some lights and internet going for upwards of a week.

In the future, all EVs will have a 240V generator port connected to the main battery by a big 10kW inverter. For now, only the Ford F-150 Lightning has this. Tesla is strangely behind here considering they have Powerwalls, solar- and home-switching expertise. Let’s get there!

As we look into 2023

I think big themes of 2023 are going to be Tesla vs. the rest of the market. The Model Y is approaching a 1M cars-per-year run rate which would make it a favorite for 2023 vehicle of the year. That’s an order of magnitude more than the Bolt will sell next year and possibly all of GM, who seem fixated on beating Tesla’s numbers.

But also GM is launching 3 new EVs: Silverado in Spring, Blazer EV in Summer, and Equinox in Fall, so that lineup will be interesting.

There’s a ton more stuff coming as well. I’ve got my eyes on the Kia EV9 3rd row SUV, wondering if they’ll deliver before Rivian’s R1S gets off the ground.

But for now, let’s give the Chevy Bolt its glory. The economy is in some sort of recession/economic downturn and at $25,600, the Chevy Bolt is allowing a much broader swath of the population to get into an EV – and easily get into a great one at that.

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Here’s a curated list of Black Friday E-bike deals that are actually worth it

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Here's a curated list of Black Friday E-bike deals that are actually worth it

It’s Black Friday and that means there are even better deals than usual on some of the highest value electric bikes in the US e-bike market. If you’re on the hunt for a deal on a good e-bike that will get you where you need to go or have you out there enjoying a recreational ride, all without breaking the bank, then I think I’ve got you covered here.

Sure, there are tons of “best e-bike deals” lists already floating around out there. Most of them are simply lazy publications or AI-concoctions, usually finding any two-wheeler with an affiliate link and then throwing dozens or even hundreds of links at you.

And yes, unfortunately, our own deals team takes that spray and pray approach, too… but rest assured that I’m not involved in that. As the internet’s longest-running e-bike reviewer, here’s my carefully compiled list of some of the best value e-bike deals out there today (and for several days to come), all of which are bikes I actually ride myself and would put my friends and family on.

This isn’t some spammy list… It’s my real, honest-to-goodness recommendations.

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The following are in no particular order other than how they popped out of my head after scouring my favorite e-bike company’s sites for current deals. Also, this is far from an exhaustive list, so let me know in the comments section at the bottom of the article if you found some great deals. I’ll try to update the list over the next few days as more interesting opportunities for high-value e-bike finds pop up.

Lectric eBikes

It’s hard to go wrong here if you’re looking for bang-for-your-buck. Lectric eBikes offers some of the best value anywhere, with surprisingly good performance e-bikes at shockingly good prices. Plus (and critically), they actually stand behind their e-bikes, which is not something you can say for the slightly cheaper Amazon-specials.

As part of Lectric’s current deals, they’re largely discounting their bundles as opposed to simply dropping the base price on just a lonesome bike. While I’d love a straight up “shave some off the top” deal, Lectric’s year-round prices are already so fair that it makes sense that they can’t cut base prices too much farther. Even so, their huge bundles bring some impressive value to the table.

The Lectric XP4 is the go-to high-value electric folder on the market right now, and they are offering savings of over $300 on their 500W version of the bike and over $500 off their 750W version of the bike. The two packages start at an incredibly reasonable $999 and $1,299, respectively, and bundle in things like suspension seat posts, upgraded headlights, locks, phone holders, and more.

I’d also recommend checking out their XP Lite2 if you want an even lighter and more compact e-bike (and don’t mind giving up the suspension fork and multiple gear ratios).

My third favorite option is the Lectric XPedition2, which is an amazing value for a heavy-hauling cargo e-bike that starts at just $1,399.

And while I don’t ride it as much myself (yet), the XP Trike2 starts at just $1,499 and is great for riders who need that extra help with balance or just prefer a three-wheeled ride!

It should also be noted that Lectric invests more in philanthropy than any other e-bike company, and it’s something I highly respect. Last year, I bought an e-bike from them just to give it away to someone in need since Lectric was donating $250 to charity for every bike sold. I like to support good companies, and they’re good people.

Priority Bicycles

Priority Bicycles is my go-to recommendation for anyone who wants a higher-quality e-bike than a typical direct-to-consumer model. While I love a good budget bike as much as the next guy, no one expects a $1,000 e-bike to last forever. Entry-level e-bikes definitely start showing their age with everyday riding. But a Priority bike? These are built to last for years and years and years, thanks to the higher tolerances, upper shelf components, and better quality manufacturing.

The New York City-based bicycle company got its start with pedal bikes before expanding into electric bikes, so they know how to make a ‘real’ bicycle instead of just a powerful two-wheeled commuter machine. These are bike-first people.

My favorite model is the Priority Current Plus, which has a 750W mid-drive motor, Gates carbon belt drive, powerful hydraulic disc brakes, and a large 720 Wh battery. It also comes with two options for internally geared hubs: either a 5-speed Shimano Nexus or a slick Enviolo continuously variable transmission (CVT).

It’s normally a $3,299 e-bike, but it’s reduced to just $2,749 for the rest of the month (you won’t see the discount until it’s actually in your cart).

That over $500 savings is huge, and Priority has deals that are almost as good on the company’s more moderately priced models, too. The Priority Glide e-bike is marked down to just $1,499 and the Priority E-Coast is marked down to just $1,699! (And I found that if I put more than one bike in the cart, the discounts are even higher!)

These are much higher quality bikes than you’d get from other companies at these prices, so they’re definitely worth a look if you like the idea of a low-maintenance, high-end belt-drive electric bike.

Ride1Up

Ride1Up has long been a solid option for high value in the commuter space, and has spent the last few years expanding beyond merely road roles and into most of the key e-bike categories.

The company’s Vorsa model is an incredible all-around e-bike that can handle just about anything, from commuting to nature trails to cargo hauling and more. Just about the only thing it can’t do is fold (though they’ve got the Portola for that).

Ride1Up currently has a $225 off sale on the Vorsa if you add in a free touring package (suspension seat post, foam saddle, and mirrors), bringing it down to $1,595 for everything.

Again, this is more of a bundled deal than a straight discount (similar to how Lectric runs most of their sales), but it still means you’re getting a better price and more value, which is the goal.

If you’re looking for a more dedicated mountain bike and want the advantages of a mid-drive from Brose, the Ride1Up TrailRush is a BEAUTIFUL example of bringing electric mountain bikes to the masses with quality parts at a reasonable price. It’s $100 off at $1,995. That’s even better than the launch price, and will get you on a bike that feels right at home on technical off-road trails.

Despite the price, this is absolutely not an entry-level electric mountain bike. This is the real deal, just at a great, direct-to-consumer price! Check out my video testing it below.

And lastly, that Portola I mentioned earlier as Ride1Up’s folding e-bike, it’s marked down to just $995. That’s an incredible deal for a slick-looking, excellent-performing 28 mph folding e-bike that offers 750W of power and hydraulic disc brakes wrapped inside of 20×3″ tires, all held in a classy hydro-formed frame.

JackRabbit

JackRabbit doesn’t actually electric bicycles, but these feel more like a typical throttle e-bike than they do an electric scooter, which is probably the better technically-correct classification.

Instead of pedals, they have foot pegs. That means you can’t pedal them, but you get a simpler, lighter, more stripped-down ride that feels like a bike, at least for the vast majority of US e-bike riders that use throttle more than they do pedal assist.

Stores usually don’t even give me a problem when I bring it inside… that’s how compact it is (and check out those swivel handlebars!)

The company is running free shipping on all of their models through December 2nd and offering 25% off of all accessories, but their main sale is on the OG2 Pro, an e-bike I just finished reviewing, and which is marked down by $150. It’s still not exactly low cost, now at just $1,499, but that’s the best price I’ve ever seen it at, and I doubt we’ll see a sale like this again for a long time… likely 12 months!

The OG2 Pro is perhaps one of JackRabbit’s best models, in my opinion. It still features their smallest frame to keep it nice and compact, but boasts big power from a 500W motor and long range from the RangeBuster battery. This is basically a mini motorbike that feels like an e-bike yet only weighs 30 pounds. When I want something small and lightweight, the JackRabbit OG2 Pro is THE bike I go to.

Aventon

Aventon has long been another staple of the value-priced electric bicycle market in the US. They’ve invested heavily in a wide dealership footprint and so in addition to an online e-bike company, they’re also found in hundreds of local bicycle shops.

While they’ve got a model for just about every type of riding, their new Aventure M is definitely one of my favorites from their lineup. It’s a fat tire off-road e-bike so it’s great for trails or where there simply aren’t any trails, but it’s also got a mid-drive motor that gives you the best balance and responsiveness, not to mention great hill climbing power and startup torque.

It’s $100 off from its normal $2,899 price, marking it down to $2,799, so it’s not a huge deal, but it’s an awesome bike if you can afford a higher-end fat tire bike.

It feels like a fat tire-inspired upgrade over the Aventon Ramblas, in many ways, which is a full-featured electric mountain bike marked down from $2,899 to just $2,499. This is definitely another to look into if you’ve got the cash for something nicer like this.

On the budget-friendly end, the brand’s Soltera 2.5 is priced at just $999, marked down by $200, and is an excellent modest-power commuter if you’re on the hunt for something lightweight and easy to ride.

Velotric

One of my favorite parts about Velotric is how heavily they’ve invested in a few key features that I rarely see yet: hardcore waterproofing and location tracking.

Velotric has some of the most waterproof e-bikes out there (and their batteries can be submerged in up to 3 feet deep of water), and they include Apple FindMy tracking in most of their models.

One of my favorite models is the Velotric Fold 1 Plus, which is currently marked down to $1,399, and comes with a free suspension seat post upgrade and free pannier bag.

Between the location tracking, UL-certified batteries that can be drowned in water, and the wide color range including fun options like bright yellow and bright blue, this is definitely one to consider.

What other deals are waiting out there? Let me know in the comments if you found something good and I’d love to check it out!

Stay safe out there, everyone. Happy trails, and may your battery always be charged!

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‘Time to act now’: The push to develop Europe’s blockbuster rare earths discoveries

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‘Time to act now’: The push to develop Europe’s blockbuster rare earths discoveries

In this aerial view, the Kiruna Kyrka church is transported by road to a new location on August 20, 2025 in Kiruna, Sweden. The church, weighing 672,4 tons, is being transported as a whole to a new location 3 km away to avoid damages caused by LKAB´s iron ore mine.

Bernd Lauter | Getty Images News | Getty Images

Two Nordic mining companies at the heart of Europe’s push to achieve resource security are taking novel — albeit very different — approaches. One is pursuing the concept of an “invisible mine,” while the other is taking on one of the world’s most radical relocation projects.

It forms part of a strategic shift for the European Union. Under its forthcoming “RESourceEU” initiative, the 27-nation bloc intends to step up its efforts to secure access to domestic sources of critical raw materials in both the short- and long-term.

The plan, which intends to boost investment in strategic projects, is designed to help break China’s long-held mineral dominance.

Alf Reistad, CEO of mining firm Rare Earths Norway, told CNBC that there’s been a clear shift in terms of how both domestic and EU policymakers are thinking about mineral supply chains.

“What we see now is really a sense of urgency. Everybody is speaking about the need for actions,” Reistad told CNBC by video call. “It is really the time to act now. We have always said that we are too early until we are too late.”

In June last year, Rare Earths Norway announced the discovery of Europe’s largest known rare earths deposit, reflecting what was seen as a watershed moment in the region’s pursuit of strategic autonomy.

It’s estimated that the firm’s Fen Carbonatite Complex, situated in the small industrial town of Ulefoss in southern Norway, contains 8.8 million metric tons of total rare earth oxides (TREOs).

It’s not a given that this is a business case. It looks like it is for us at the moment, but it’s not something that you’d say, ‘oh it’s a no brainer, just run for it.’

Niklas Johansson

Spokesperson at LKAB

Notably, roughly 1.5 million tons of these TREOs are thought to contain highly prized magnet-related rare earths, such as neodymium and praseodymium. These are critical components for a range of modern technologies, from electric vehicles and wind turbines to robotics and defense applications.

Rare Earths Norway said it is currently in close cooperation with the local municipality and national authorities over a zoning plan and hopes to present a prefeasibility study by the end of the year.

Ultimately, however, it faces a long road ahead to deliver on its rare earths potential. The company is targeting the delivery of rare earths to market by the first half of the 2030s.

The Enhanced Games?

To help reach these targets, Rare Earths Norway has been lobbying for domestic and EU policymakers to consider fast-track permitting and price guarantees, saying such measures will be pivotal to its success.

Reistad compared the firm’s push to deliver on its resource potential to participating in the Enhanced Games, a controversial event that allows athletes to take banned performance enhancing drugs under medical supervision.

“If you look now at what you see with China and the U.S., they are competing in a kind of Enhanced Games, and it’s not possible for us to compete at all if we have no security,” Reistad said.

“You see that the actions that have been made by [U.S. President Donald] Trump. He has been fast and bold. So, if there is no level playing field then it will not be possible to come true with this project,” he added.

European Commission President Ursula von der Leyen delivers her speech during a debate on the new 2028-2034 Multi-annual Financial Framework at the European Parliament in Brussels on November 12, 2025.

Nicolas Tucat | Afp | Getty Images

A spokesperson for the European Commission, the EU’s executive arm, told CNBC that the bloc has a “clear vision” to ensure the secure and sustainable access to raw materials. By 2030, the bloc wants to extract 10%, process 40% and recycle 25% of what it consumes each year.

The EU is also aiming to limit reliance on any single external supplier to 65%.

An ‘invisible mine’

To develop its discovery, Rare Earths Norway is planning to extract rare earths from its Fen site using an “invisible mine” concept to avoid surface disruption and environmental impact.

This concept involves drilling a long, narrow tunnel diagonally beneath the village of Ulefoss and backfilling extracted voids with waste materials.

“It’s important that people on top of the deposit are safe,” Reistad said, who compared the concept to that of a “Kinder Egg.”

“So, if you have seen in the project by LKAB in Kiruna, they have to move the town. We need to prevent that, and its approximately 300 properties on top of the deposit and a lot of people living there,” he added.

Reistad said the company has had “very good” dialogue with the people living on top of the rare earths deposit. Early community surveys have reportedly shown strong local support for the project, alongside some concerns about stability and waste management.

An Arctic city on the move

Swedish state-owned mining firm LKAB, which operates far above the Arctic Circle in the city of Kiruna, is taking a completely different approach to Europe’s growing appetite for raw materials.

The company announced in January 2023 what was then considered to be Europe’s largest known deposit of rare earths, describing the discovery as “good news” for Sweden, Europe and the climate.

Rain falls as a general view taken on August 21, 2025 shows the LKAB iron ore mine and a sign bearing the company’s logo in Kiruna, northern Sweden.

Jonathan Nackstrand | Afp | Getty Images

The discovery of the so-called Per Geijer deposit sits in close proximity to the world’s largest underground iron ore mine. Indeed, it is LKAB’s plans to expand its iron ore mine that has prompted the move of thousands of city residents to a brand-new city center.

The extensive urban relocation project received international attention in August, when workers successfully moved a 113-year-old wooden church five kilometers (3 miles) down the road over the course of two days.

Later that same month, LKAB announced that 6,000 more people and approximately 2,700 homes would be affected by the relocation. The transformation is estimated to come at a cost of 22.5 billion Swedish kronor ($2.4 billion).

Niklas Johansson, senior vice president of public affairs and external relations at LKAB, said the relocation is not related to the rare earths discovery, but rather the firm’s sprawling iron ore mine.

A worker is pictured in the underground tunnels of the LKAB iron ore mine in Kiruna, northern Sweden, on August 21, 2025.

Jonathan Nackstrand | Afp | Getty Images

Like Rare Earths Norway, LKAB’s Johansson said the company is currently in discussion with European lawmakers to ensure that it will be economically viable to develop its resources.

“We’ve already got the material up to the ground. That’s all been paid for by the iron ore. Still, it’s not a given that this is a business case. It looks like it is for us at the moment, but it’s not something that you’d say, ‘oh it’s a no brainer, just run for it,'” Johansson told CNBC by telephone.

“I also tell them that if it looks like this for us, who has most of the infrastructure and everything in place, how do you think it will look for others in Europe?”

Mineral sovereignty

Anthony Heron, deputy editor of the Arctic Institute think tank, said the projects overseen by Rare Earths Norway and LKAB are “strategically significant” because they represent some of the most credible paths to reduce Europe’s near total dependence on imported rare earths, especially from China.

“Estimates suggest the Norwegian Fen deposit could cover a sizeable share of future EU demand for rare earth minerals, and the exploration of Arctic deposits has been framed by analysts as pillars of Europe’s emerging ‘mineral sovereignty’ agenda,” Heron told CNBC by email.

“That aligns the Arctic squarely with the EU Critical Raw Materials Act, which has set targets for a minimum share of extraction to take place within Europe,” he added.

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Rad Power expands e-bike Black Friday Sale with more savings + lows from $999, Anker smart security devices 50% off, GE appliance, more

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Rad Power expands e-bike Black Friday Sale with more savings + lows from 9, Anker smart security devices 50% off, GE appliance, more

Happy Thanksgiving, everyone! To celebrate the day, we’ve got another jam-packed edition of Green Deals, with plenty more that you can browse in our official Black Friday Green Deals hub here, encompassing all the sales/deals we’ve collected over the last few weeks that are still alive and well. Headlining today’s features is Rad Power’s expanded Black Friday Sale, which is seeing increased prices to new lows, like the RadExpand 5 Plus Folding e-bike at $1,399, among others. From there, we also have a large collection of Anker eufy solar cams, and other smart security devices starting from $50, as well as GE’s Profile Smart Electric Ventless Heat Pump Washer/Dryer Combo at $2,000, the next EcoFlow 48-hour flash sale, Aiper’s robot pool cleaners, smart composters, hydroponic gardens, and so much more waiting for you below. And don’t forget about the hangover deals that are collected together at the bottom of the page (and also in our Green Deals hub), like yesterday’s first post-launch price cuts on the Heybike Mars 3.0 and Ranger 3.0 Pro e-bikes, the Tesla universal EV charger retaining a $50 discount, and more.

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 expands Black Friday e-bike lineup and increases savings to new lows starting from $999

Rad Power Bikes has expanded its Black Friday Sale with additional offers while retaining the previous lineup of new lows and more. Among the bunch, we’re seeing the biggest price cut yet on the RadExpand 5 Plus Folding e-bike at $1,399 shipped. Coming down from the full $1,899 price tag that it has spent much of 2025 keeping to, we’ve mostly seen a mix of free bundle offers (without price cuts) and occasional discounts as low as $1,699. Now, for Black Friday, this newer model is getting a larger-than-ever $500 markdown to a new all-time low price. Head below to learn more about it and the expanded/increased Rad Power Black Friday savings.

The Rad Power RadExpand 5 Plus comes as the latest iteration of the brand’s space-saving, folding series, able to condense down to 29 inches high by 25 inches wide by 41 inches long to fit inside closets, car trunks, on RVs, and more. The 750W rear hub motor is paired with a 720Wh battery to carry you for up to 60+ miles with its five PAS levels activated at up to 20 MPH top speeds (supported by a torque sensor). Among its updated features, you’ll be getting a hydraulic suspension fork alongside hydraulic disc brakes for smoother rides and greater stopping power. There’s also the puncture-resistant tires, fenders to go over top of them, a rear cargo rack for added versatility, an LED headlight, a brake-activated taillight, a Shimano 7-speed derailleur, a color display with a USB-C port, and more.

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With the brand going through financial turmoil, now’s your chance to cash in on some of Rad Power’s deep clearance-meets-Black Friday savings.

Rad Power’s full Black Friday Sale lineup:

anker eufy solar security camera outside in rain

Anker’s eufy solar security cameras, smart locks, more get up to 50% Black Friday savings to new lows starting from $50

With Amazon’s Black Friday Week Sale in full momentum, Anker’s official eufy storefront is offering up to 50% discounts across its lineup of smart security devices, and the best rate yet on the SoloCam S220 Wireless Solar Security Camera that starts from $49.99 shipped, while its 4-camera package is a great get for multi-point coverage at $179.99 shipped. Normally going for $100 without any discounts, we’ve seen the cost get taken down as low as $60 previously in the year, with this holiday deal bringing even more savings to the mix by cutting the price in half. You’ll save $50 off the going rate for a 50% markdown on the single-cam package, while the 4-camera kit is seeing a 36% cut of $100 – dropping both options to new all-time lows.

If you want to learn more about this model, or check out the full lineup of deals on other cameras, video doorbells, smart locks, and more – be sure to check out our original coverage of these Black Friday deals here.

woman doing laundry with GE 2-in-1 washer dryer

GE’s 2-in-1 Profile smart ventless electric washer/dryer combo with heat pump at $2,000 (Reg. $2,700)

As part of its Black Friday Appliance Sale, Best Buy is offering the GE Profile 4.8 Cubic-Foot Smart Combo Electric Washer & Dryer with Ventless Heat Pump at $1,999.99 shipped. While it carries a $2,999 MSRP direct from the brand, at Best Buy we normally see it starting lower at $2,700, with the discounts we’ve spotted over the year regularly dropping the rate between $2,200 and $2,000, with things having gone as low as $1,750 once this year back during July’s Prime Day event. You’re still looking at a solid $700 markdown off the going rate (and $999 off the MSRP) to land at the third-lowest price we have tracked. There are also alternate options in Samsung’s massive Black Friday Appliance Sale here to weigh your options.

If you want to learn more about this specific model, be sure to check out our original coverage of these savings here.

ecoflow delta pro power station outside with extra battery and solar panel
banner for Aiper robot pool cleaner black friday sale
Govee smart electric composter being used to make soil for garden
AeroGarden Harvest Elite 360 indoor hydroponic system

Best Fall 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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