Flying electric boat company Candela soars closer to its 30-passenger vessel
Swedish electric boat maker Candela is flying high recently, and not just on its hydrofoils. The company has just announced a new $20M investment that will accelerate the rollout of its upcoming 30-passenger electric ferry, the Candela P-12 Shuttle.
Candela has spent years developing and producing electric hydrofoil boats that have so far been used primarily for recreational boating.
Now the company’s P-12 electric ferry is set to bring the same benefits of Candela’s existing designs to the world of commercial boating.
Hydrofoil boats are more efficient than traditional boats because they are designed to reduce drag and increase speed by lifting the hull out of the water. The hydrofoil, which is a wing-like structure mounted on struts below the hull, creates lift when it moves through the water, similar to how an airplane wing creates lift in the air. This reduces the amount of surface area in contact with the water, which in turn reduces drag and improves efficiency.
Because the boat is lifted out of the water, it also experiences less resistance from waves, resulting in a smoother ride and less energy consumption. That means that Candela’s boats are not only much more efficient than conventional combustion engine boats with traditional V-hulls, but they are also several times more efficient than most other electric boats on the market today.
For a commercial operator, that efficiency and comfort make a huge difference in operations. And now that Candela has landed a new round of investment totaling SEK 210 million ($20M), the P-12 is even closer to production.
The investment round was co-led by EQT Ventures and investor duo Joel Eklund (Fosielund Holding AB) and Svante Nilo Bengtsson (Marknadspotential AB), with participation from Ocean Zero LLC, among others.
Candela tells us that the funding will be used to bring Candela’s game-changing, foiling 30-passenger ferry Candela P-12 Shuttle to mass production in the company’s new Stockholm factory.
As CEO and founder Gustav Hasselskog explained, the P-12 will be more than just quicker and cheaper than land transportation; it will also be immediately profitable for the transportation companies that operate it.
This new investment will unlock the potential of underutilized waterways for climate-friendly, high-speed commuting. The P-12 Shuttle will in many cases be faster and cheaper than land transport like bus lines, and it will be profitable for operators from day one.
The cost-effective alternative form of transportation uses its high efficiency to reduce operating costs and bring down the high initial upfront cost of many electric boats that would normally require much larger batteries.
Because the P-12 will use 80% less energy than traditional vessels, its economical battery will still provide a record range of 60 nautical miles on a single charge when cruising at a speed of 27 knots.
The Candela P-12 is expected to launch this summer, when the company says it will become the fastest and longest-range electric passenger vessel in the world.
The advantages of the boat’s electric hydrofoil design primarily benefit its occupants and operators, though the shift away from combustion engine vessels is also a major benefit to the climate. A recent life cycle analysis by Stockholm’s Royal Institute of Technology concluded that a P-12 ferry will emit 97.5% less carbon dioxide over its lifetime compared to a diesel vessel of the same size, including its emissions from production, operations over 30 years and recycling.
I’ve had the opportunity to test out two of Candela’s current models, the C-7 and C-8 electric hydrofoil boats.
Both vessels left me quite impressed (and also made me look good with their ultra easy-to-use controls), though the C-8 was my clear favorite. The larger vessel is even smoother, quieter, and more capable, flying higher above the surface to clear choppier waters. I was able to cut across the wakes of everything from speed boats to cruise ships with only the slightest movement of the boat. A V-hull boat would have been crashing up and down when crossing the same wakes.
In fact, you can check it out in the video of my most recent testing experience below. It’s a doozy to see the two different styles of boats sailing side by side.
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Last week, we reported that the e-bike world had a new motor claiming to be the lightest and most efficient. Now, we’re already seeing TQ’s new TQHPR40 motor proliferate on more road and gravel e-bikes, including the recently announced E-ASTR from Ridely.
Ridley’s new E‑ASTR brings lightweight electric assistance to its already impressive ASTR gravel platform, powered by the cutting-edge TQ HPR40 mid-drive system. Unlike bulkier e‑bike setups, this system adds just 1.17 kg (2.6 lb) at the crank and a discreet 1.46 kg (3.2 lb) and 290 Wh battery hidden within the downtube, keeping the frame’s silhouette nearly identical to the non-electric version of the same bike. According to BikeRumor, riders looking closely might spot only a slightly fatter downtube, internal cable routing, and a handlebar-end LED indicator, giving visual clues without shouting “electric bike.”
What the E‑ASTR gives up in sheer power from the petite motor, it gains in ride feel. The HPR40 is said to deliver a modest 40 Nm of torque and up to 200W of assist, or enough to smooth out climbs or offer a tailwind on gravel without overpowering the rider. With support cut off at 25 km/h (15.5 mph), pedal responsiveness remains natural and fluid. Combined with the ASTR’s race-inspired geometry, the bike looks to offer sharp handling and comfort suited to the rigors of modern gravel routes.
Ridley is currently offering the E‑ASTR in three spec levels: a value SRAM Apex XPLR AXS build €7,199 (or approximately US $8,500), a mid-range SRAM Rival XPLR AXS 1×13 version for €8,199 (or approximately US $9,700), and a top-tier Shimano GRX 2×12 Di2 model for €8,899 (or approximately US $10,500). Each features high-end drivetrains, integrated cockpit options, carbon wheels, and industry-standard gravel brakes and tires. With its race-ready frame and stealthy, lightweight e‑assistance, the E‑ASTR is positioning itself as a high-performance gravel machine that stays true to its roots, delivering help when needed, without overshadowing the rider.
Ultra-lightweight motors like the TQHPR40 are quietly reshaping the e-bike industry by making electric assistance almost invisible, both in looks and in feel. As systems shrink and integrate more seamlessly into traditional bike frames, they’re opening the door to new categories of performance-oriented e-bikes that preserve the ride dynamics of analog bikes while offering just enough support when it counts.
For riders who value a natural pedaling experience but still want a little help on climbs or longer days, and especially for aging riders who want to maintain their riding habits despite father time taking an impact on joints and muscles, these minimalist systems are proving that you don’t need a bulky battery or a massive motor to get the benefits of going electric. The result is a wave of stealthy, high-performance e-bikes that are less about replacing effort and more about enhancing the ride.
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After a month off trying to wrap our heads around all the chaos surrounding EVs, solar, and everything else in Washington, we’re back with the biggest EV news stories of the day from Tesla, Ford, Volvo, and everyone else on today’s hiatus-busting episode of Quick Charge!
It just gets worse and worse for the Tesla true believers – especially those willing to put their money where Elon’s mouth is! One believer is set to lose nearly $50,000 betting on Tesla’s ability to deliver a Robotaxi service by the end of June (didn’t happen), and the controversial CEO’s most recent spat with President Trump had TSLA down nearly 5% in pre-morning trading.
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Hyundai is getting ready to shake things up. A new electric crossover SUV, likely the Hyundai IONIQ 2, is set to debut in the coming months. It will sit below the Kona Electric as Hyundai expands its entry-level EV lineup.
Is Hyundai launching the IONIQ 2 in 2026?
After launching the Inster late last year, Hyundai is already preparing to introduce a new entry-level EV in Europe.
Xavier Martinet, President and CEO of Hyundai Europe, confirmed that the new EV will be revealed “in the next few months.” It will be built in Europe and scheduled to go on sale in mid-2026.
Hyundai’s new electric crossover is expected to be a twin to the Kia EV2, which will likely arrive just ahead of it next year.
It will be underpinned by the same E-GMP platform, which powers all IONIQ and Kia EV models (EV3, EV4, EV5, EV6, and EV9).
Like the Kia EV3, it will likely be available with either a 58.3 kWh or 81.4 kWh battery pack option. The former provides a WLTP range of 267 miles while the latter is rated with up to 372 miles. All trims are powered by a single electric motor at the front, producing 201 hp and 209 lb-ft of torque.
Although it may share the same underpinnings as the EV2, Hyundai’s new entry-level EV will feature an advanced new software and infotainment system.
According to Autocar, the interior will represent a “step change” in terms of usability and features. The new system enables new functions, such as ambient lighting and sounds that adjust depending on the drive mode.
It’s expected to showcase Hyundai’s powerful new Pleos software and infotainment system. As an end-to-end software platform, Pleos connects everything from the infotainment system (Pleos Connect) to the Vehicle Operating System (OS) and the cloud.
Pleos is set to power Hyundai’s upcoming software-defined vehicles (SDVs) with new features like autonomous driving and real-time data analysis.
As an Android-based system, Pleos Connect features a “smartphone-like UI” with new functions including multi-window viewing and an AI voice assistant.
The new electric crossover is expected to start at around €30,000 ($35,400), or slightly less than the Kia EV3, priced from €35,990 ($42,500). It will sit between the Inster and Kona Electric in Hyundai’s lineup.
Hyundai said that it would launch the first EV with its next-gen infotainment system in Q2 2026. Will it be the IONIQ 2? Hyundai is expected to unveil the new entry-level EV at IAA Mobility in September. Stay tuned for more info. We’ll keep you updated with the latest.
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