CAKE has just unveiled its latest heavy duty electric two-wheeler at CES 2023. But unlike the company’s electric motorcycles and scooters that came before it, the CAKE Åik is an electric bicycle complete with pedals. But don’t think that this e-bike isn’t ready for some hard work.
This isn’t your typical electric bike. It’s part of CAKE’s “:Work” line of heavy-hauling utility vehicles on two wheels.
The CAKE Åik is similar in concept to the CAKE Ösa electric motorcycle that has been described as a “workbench on wheels” thanks to its highly modular work platform. And just like the Ösa, it’s another model that I’ll have to hunt around my keyboard to be able to type each time.
The Åik may be a street-legal electric bicycle, but it’s like no e-bike we’ve covered before. That’s because it’s actually built for heavy duty utility and work jobs.
The aluminum frame is designed to be ultra modular to fit a wide range of utility accessories. The bike comes with an impressive gross vehicle weight rating of 441 lbs (200 kg). Subtracting out the 78 lb (35.5 kg) weight of the bike and a single battery, that still leaves 363 lbs (165 kg) of cargo capacity.
You might want to use some of that extra capacity to mount a couple spare 12 pound (5.5 kg) batteries. A single battery offers a range of up to 74.5 miles (220 km), but the Åik can actually support three batteries (sold separately) that boost the range up to 223 miles (359 km) on pedal assist. The 750 Wh batteries use 21700-size cells and also function as powerbanks that can be used to power devices and tools.
Throttling around instead of helping pedal will certainly net you less range than that lofty 223 mile figure, but with 2.25 kWh of battery you’re still looking at all day operation.
If you do choose to ride by throttle assist, you’ll be able to hit a maximum speed of 20 mph (32 km/h) without your feet doing any work. The top speed without electric assist? That’s listed as “as fast as you can pedal.”
The drivetrain uses a 1,000W peak mid-drive motor with a nominal rating of 500W and a 100 Nm torque rating. It is paired with a chain drive but is belt drive compatible. All the press photos show a belt drive, and that seems to be the nicer choice.
Both the belt and chain drives dump the motor’s power into an Enviolo Extreme CVP hub that functions as a continuously variable transmission (CVT). It includes automatic shifting, meaning riders can enjoy the smoothness and low-maintenance of a belt drive while still getting effortless shifting. It also means that the bike can shift at a standstill, which is useful for cargo e-bikes that carry heavy loads.
The CAKE Åik rolls on 20″ x 3.0″ tires and features Tektro Auriga four-piston hydraulic disc brakes on large 203 x 2.3 mm rotors. There’s no suspension to be seen, so those 3-inch tires are going to be doing the brunt of the shock absorption.
The frame is a single size step-thru model that is recommended for rider heights from 150-195 cm (4’11” to 6’5″), so basically everyone.
The bike features a USB-C charging port to power your personal electronics and includes surround LED lighting.
For connectivity, the CAKE Åik features a telematics unit with GPS, Bluetooth, and GSM connections that is compatible with the Cake App, Cake Fleet Management App, and external API integration. To keep the bike yours, anti-theft features include a GPS-activated alarm and tracking, as well as security screws for both wheels and an anti-theft seat clamp so no one walks off with your saddle.
If you’re thinking, “Well this looks great, but surely it’s expensive,” then you don’t even know the half of it. The CAKE Åik starts at a healthy US $6,470 with a single battery and without the extra “:Work” series accessories. Extra batteries cost US $780 each, plus another couple hundred bucks for the docks and wiring to run them in parallel (though you could also just swap them in one at a time).
If that seems pricey, well, it is. But it’s also probably not meant for you. CAKE is largely targeting commercial customers with its “:Work” line, as the company’s CEO Stefan Ytterborn explained:
With Åik joining the :work series lineup, we’re now offering a complete assortment of electric two-wheeled solutions for any business in need of a transportation solution. Our range is optimized for artisanal needs, from the fastest deliveries in town through to surveillance work in the backcountry.
Electrek’s Take
It’s great to see CAKE expanding its product line so widely, from full motorcycles to mopeds to kids e-bikes and now adult utility e-bikes. But hot damn is that an expensive bike!
Sure, you’ve got that European design and manufacturing. But where is the rest of that cost coming from? They saved a few bucks with the lack of suspension, though I can see the argument that a rigid frame will be much more durable over the years.
Price tag aside, it really does look like a great bike. For a business that uses a vehicle for eight hours a day, five days a week and 52 weeks a year, a high quality e-bike is necessary to withstand that kind of punishment. It’s like the difference between the truck your neighbor bought to do grocery shopping and the truck a towing company buys.
Without seeing the Åik in person yet or testing it myself, I can’t say for sure that it’s built to that level. But that certainly seems like the target CAKE is aiming for here. Here’s to hoping they put one under me so I can give it a test. Perhaps I need to sign myself up for DoorDash soon…
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Enbridge is going big on solar again in Texas, and Meta is snapping up all the solar power it can get.
Last month, Electrek reported that the Canadian oil and gas pipeline giant just launched its first solar farm in Texas. Now it’s given the green light to Clear Fork, a 600 megawatt (MW) utility-scale solar farm already under construction near San Antonio. The project is expected to come online in summer 2027.
Once it’s up and running, every bit of Clear Fork’s electricity will go to Meta Platforms under a long-term contract. Meta will use the solar power to help run its energy-hungry data centers entirely on clean energy.
The solar farm project’s cost is around $900 million. Enbridge says it expects Clear Fork to boost the company’s cash flow and earnings starting in 2027.
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Enbridge EVP Matthew Akman said the project reflects “growing demand for renewable power across North America from blue-chip companies involved in technology and data center operations.”
Meta’s head of global energy, Urvi Parekh, added that the company is “thrilled to partner with Enbridge to bring new renewable energy to Texas and help support our operations with 100% clean energy.”
Meta’s first multi-gigawatt data center, Prometheus, is expected to come online in 2026.
Clear Fork is part of a growing trend: tech giants like Meta, Amazon, and Google are racing to lock down renewable energy contracts as they expand their fleets of AI-ready data centers, which use massive amounts of electricity.
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A fully electric Japanese electric pickup truck? It’s not a Toyota or Honda, but Isuzu’s new electric pickup packs a punch. The D-MAX EV can tow over 7,770 lbs (3,500 kg), plow through nearly 24″ (600 mm) of water, and it even has a dedicated Terrain Mode for extreme off-roading. However, it comes at a cost.
Meet Isuzu’s first electric pickup: The D-MAX EV
After announcing that it had begun building left-hand drive D-MAX EV models at the end of April, Isuzu said that it would start shipping them to Europe in the third quarter.
By the end of the year, Isuzu will begin production of right-hand drive models for the UK. Sales will follow in early 2026.
Isuzu announced prices this week, boasting the D-MAX EV features the same “no compromise durability” of the current diesel version.
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The D-MAX EV pickup features a full-time 4WD system, a towing capacity of up to 3.5 tons (7,700 lbs), and an added Terrain Mode, which Isuzu says is designed for “extreme off-road capability.” With 210 mm (8.3″) of ground clearance, Isuzu’s electric pickup can wade through up to 600 mm (24″) of water.
Powered by a 66.9 kWh battery, Isuzu’s electric pickup offers a WLTP range of 163 miles. With charging speeds of up to 50 kW, the D-MAX EV can recharge from 20% to 80% in about an hour.
The electric version is nearly identical to the current diesel-powered D-Max, both inside and out, but prices will be significantly higher.
Isuzu D-Max EV specs and prices
Drive System
Full-time 4×4
Battery Type
Lithium-ion
Battery Capacity
66.9 kWh
WLTP driving range
163 miles
Max Output
130 kW (174 hp)
Max Torque
325 Nm
Max Speed
Over 130 km/h (+80 mph)
Max Payload
1,000 kg (+2,200 lbs)
Max Towing Capacity
3.5t (+7,700 lbs)
Ground Clearance
210 mm
Wading Depth
600 mm
Starting Price (*Ex. VAT)
£59,995 ($81,000)
Isuzu D-Max EV electric pickup prices and specs
Isuzu’s electric pickup will be priced from £59,995 ($81,000), not including VAT. The double cab variant starts at £60,995 ($82,500). In comparison, the diesel model starts at £36,755 ($50,000).
The EV pickup will launch in extended and double cab variants with two premium trims: the eDL40 and V-Cross. Pre-sales will begin later this year with the first UK arrivals scheduled for February 2026. Customer deliveries are set to follow in March.
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In this photo illustration, Claude AI logo is seen on a smartphone and Anthropic logo on a pc screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)
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OpenAI and Anthropic continue to lead a fundraising bonanza in artificial intelligence, raising historic rounds and stratospheric valuations.
But when it comes to finding AI exits for venture firms, the market looks a lot different.
AI startups raised $104.3 billion in the U.S. in the first half of this year, nearly matching the $104.4 billion total for 2024, according to PitchBook. Almost two-thirds of all U.S. venture funding went to AI, up from 49% last year, PitchBook said.
The biggest deals follow a familiar theme. OpenAI raised a record $40 billion in March in a round led by SoftBank. Meta poured $14.3 billion into Scale AI in June as part of a way to hire away CEO Alexandr Wang and a few other top staffers. OpenAI rival Anthropic raised $3.5 billion, while Safe Superintelligence, a nascent startup started by OpenAI co-founder Ilya Sutskever, raised $2 billion.
While Meta’s massive investment into Scale AI amounted to a lucrative exit of sorts for early investors, the overarching trend has been a lot more money going in than coming out.
In the first half, there were 281 VC-backed exits totaling $36 billion, according to PitchBook. That includes the roughly $700 million acquisition of EvolutionIQ, an AI platform for disability and injury claims management, by CCC Intelligent Solutions, and the public listing of Slide Insurance, which builds AI-powered insurance offerings for homeowners. Slide is valued at about $2.3 billion.
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“The dominant exit trend right now is frequent but lower-value acquisitions and fewer IPOs with significantly higher value,” said Dimitri Zabelin, PitchBook’s senior research analyst for AI and cybersecurity.
CoreWeave’s IPO, which took place at the very end of the first quarter, was the exception on the infrastructure side. The stock shot up 340% in the second quarter, and the company is now valued at over $63 billion.
Zabelin said the pattern of more investments in applications with smaller deals has been in place for the past year.
“Vertical solutions tend to plug more easily into existing enterprise gaps,” Zabelin said.
The acquisitions wave is being driven, in part, by what Zabelin calls bolt-on deals where larger companies buy smaller startups to enhance their own future valuations, hoping to enhance their value ahead of a future sale or IPO.
“That also has to do with the current liquidity conditions in the macro environment,” Zabelin said.
Outside of AI, activity is slow. U.S. fintech funding dropped 42% in the first half of the year to $10.5 billion, according to Tracxn. Cloud software and crypto have also seen sharp pullbacks.
Zabelin said IPO activity could pick up if economic conditions improve and if interest rates come down. Investors clearly want opportunities to back promising AI companies, he said.
“The appetite for AI, specifically vertical applications, will continue to remain robust,” Zabelin said.
— CNBC’s Kevin Schmidt contributed to this report.