Lectric eBikes, one of the largest suppliers of electric bicycles in the US, made a joint announcement today with the Consumer Product Safety Commission (CPSC) of a voluntary recall for many of the Lectric XP 3.0 electric bikes produced and sold earlier this year.
The recall is related to a braking issue with the mechanical brake calipers on the bikes.
According to the announcement, “the mechanical disc brake calipers located on the front and rear of the e-bike can fail resulting in loss of control, posing crash and injury hazards to the rider.” The recall covers approximately 45,000 Lectric XP 3.0 electric bikes with mechanical brakes sold between November 2022 and May 2023.
Among those 45,000 e-bikes, there were four instances reported of brake failure due to a faulty part in the brakes produced by one of Lectric eBikes’ suppliers. Two of those instances resulted in injuries to the rider.
Lectric eBikes has prepared a remedy for the affected bikes that includes a hydraulic disc brake upgrade kit. The kit is designed to be simple enough for most riders to install on the bikes themselves in 10 to 15 minutes, but Lectric will pay for a bike shop to professionally install the hydraulic disc brakes for anyone who doesn’t want to install the new brake kit alone.
The hydraulic disc brake upgrade kits are already available, and Lectric eBikes is contacting owners of all affected bikes to get their hydraulic brake kits sent out immediately.
I spoke with Lectric eBikes cofounder and CEO Levi Conlow about the recall, and he explained that “once we learned of the issue, we immediately stopped selling those e-bikes with mechanical disc brakes.”
They then reached out to the CPSC to begin the process of a voluntary recall.
The four instances of brake failure only occurred under a certain scenario when the brake cable was not properly adjusted, and so the company also sent out a service bulletin to its riders explaining how to check and adjust their brakes to ensure that any potentially affected brake calipers would be properly adjusted to prevent any future failures. The company also began offering its hydraulic brake upgrade kit for free to any XP 3.0 e-bike owners back in May, and around half of its customers have already taken the company up on the offer to receive a free hydraulic brake replacement in advance of the recall announcement today.
Despite Lectric eBikes electing to enroll in the Fast Track Recall program, it is common for companies engaging in recalls with the CPSC to be barred from officially announcing the recall until the CPSC makes a joint statement. In this case, it looks like Lectric stopped selling the models in May when it announced its hydraulic brake upgrades, but the CPSC’s announcement only came in September.
Lectric eBikes had already been in the process of moving the Lectric XP 3.0 e-bike line to hydraulic disc brakes, but expedited those plans when it discovered the mechanical brake issue. “We moved up our hydraulic brake timeline by around six months,” Conlow explained. “It was supposed to be our big November launch.”
But for the company, it was important to make those changes quickly despite the small number of brake failures. “We knew we were going to do the right thing. We weren’t going to cheap out or wait until 200 incidents were reported.”
For Conlow, the most important thing in the days following the discovery was to act quickly as they could and make the process as easy and safe for riders as possible. “For us, it was important to spare no expense. We’re paying for shop installations. We have the replacement kits in stock already, right now. In fact, I probably bought way too many of them, but we knew we had to have enough to have everyone covered right away.”
Lectric XP 3.0 e-bikes now all come with hydraulic disc brakes
E-bike industry recalls
The last few years have seen several large recalls in the e-bike industry. One of the freshest on the minds of many riders involved the RadWagon 4, a cargo e-bike that was recalled due to a wheel issue. Over 29,000 of those models were recalled after 137 reports of tire failures, and riders were left waiting several months for upgrade kits to arrive.
Trek recently issued a recall for over 96,000 bikes that had a separate braking issue related to the brake cables and housing. In that case, the bikes continued to be sold over a nearly two-year period from June 2021 to March 2023 until the recall was issued in June of 2023. A total of 195 cases of brake failure were reported.
Electrek’s Take
This is certainly an unfortunate turn of events, and anyone who owns a Lectric XP 3.0 with mechanical disc brakes should absolutely reach out to Lectric to get their free hydraulic upgrade kit. Even if your brakes appear to be fine, you never know if there’s a defect inside your brake caliper. Plus, higher quality hydraulic disc brakes are a great upgrade – and there’s no price better than free!
Unfortunately recalls do happen from time to time in any consumer product industry, but I’m glad to see that Lectric appears to be handling it quite well. The problem seems to have been related to a small number of improperly produced brake calipers (with only four reported failures), but since Lectric couldn’t know exactly how many or which bikes were affected, they immediately reached out to all XP 3.0 customers to help them adjust their brakes properly to prevent the issue from occurring even if the brakes contained the manufacturing defect. Then it seems to me like they’ve worked to officially recall the bikes as fast as they were allowed to by the CPSC, and they already have the solution in stock and shipping out. As far as recalls go, this is about as good as it gets, in my opinion.
Obviously it would be better if the brake defect had been found before it ever made it out, but this also highlights a unique advantage of the direct-to-consumer business model. For example, in the case of Trek, their brake recall included nearly 100,000 bikes across over a dozen models. And since they sell through dealers, Trek was somewhat hamstrung in contacting customers since it simply didn’t know where all of its bikes were. With D2C sales like Lectric’s and many other value-priced electric bike manufacturers, direct sales mean the company knows who all of its customers are and can contact them directly. D2C isn’t better for everything, but in this case it appears to have been an advantage.
Lastly, the recall gives us interesting insight into Lectric’s sales figures. In a six-month period from November 2022 to May 2023, Lectric seems to have sold 45,000 of its XP 3.0 models. Extrapolated to 90,000 bikes annually (though that may not be entirely accurate due to seasonal sales impacts) in just one of the company’s several model lines, those are some impressive sales numbers.
FTC: We use income earning auto affiliate links.More.
Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks.
Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower.
The reversal came after a Bloomberg report that JPMorgan plans to start charging fintechs for access to customer bank data, a move that could raise costs across the industry.
For fintech firms that rely on thin margins to offer free or low-cost services to customers, even slight disruptions to their cost structure can have major ripple effects. PayPal and Affirm both ended the day nearly 6% lower following the report.
Despite its stellar year, the online broker is facing several headwinds, with a regulatory probe in Florida, pushback over new staking fees and growing friction with one of the world’s most high-profile artificial intelligence companies.
Florida Attorney General James Uthmeier opened a formal investigation into Robinhood Crypto on Thursday, alleging the platform misled users by claiming to offer the lowest-cost crypto trading.
“Robinhood has long claimed to be the best bargain, but we believe those representations were deceptive,” Uthmeier said in a statement.
The probe centers on Robinhood’s use of payment for order flow — a common practice where market makers pay to execute trades — which the AG said can result in worse pricing for customers.
Robinhood Crypto General Counsel Lucas Moskowitz told CNBC its disclosures are “best-in-class” and that it delivers the lowest average cost.
“We disclose pricing information to customers during the lifecycle of a trade that clearly outlines the spread or the fees associated with the transaction, and the revenue Robinhood receives,” added Moskowitz.
Robinhood is also facing opposition to a new 25% cut of staking rewards for U.S. users, set to begin October 1. In Europe, the platform will take a smaller 15% cut.
Staking allows crypto holders to earn yield by locking up their tokens to help secure blockchain networks like ethereum, but platforms often take a percentage of those rewards as commission.
Robinhood’s 25% cut puts it in line with Coinbase, which charges between 25.25% and 35% depending on the token. The cut is notably higher than Gemini’s flat 15% fee.
It marks a shift for the company, which had previously steered clear of staking amid regulatory uncertainty.
Under President Joe Biden‘s administration, the Securities and Exchange Commission cracked down on U.S. platforms offering staking services, arguing they constituted unregistered securities.
With President Donald Trump in the White House, the agency has reversed course on several crypto enforcement actions, dropping cases against major players like Coinbase and Binance and signaling a more permissive stance.
Even as enforcement actions ease, Robinhood is under fresh scrutiny for its tokenized stock push, which is a growing part of its international strategy.
The company now offers blockchain-based assets in Europe that give users synthetic exposure to private firms like OpenAI and SpaceX through special purpose vehicles, or SPVs.
An SPV is a separate entity that acquires shares in a company. Users then buy tokens of the SPV and don’t have shareholder privileges or voting rights directly in the company.
OpenAI has publicly objected, warning the tokens do not represent real equity and were issued without its approval. In an interview with CNBC International, CEO Vlad Tenev acknowledged the tokens aren’t technically equity shares, but said that misses the broader point.
“What’s important is that retail customers have an opportunity to get exposure to this asset,” he said, pointing to the disruptive nature of AI and the historically limited access to pre-IPO companies.
“It is true that these are not technically equity,” Tenev added, noting that institutional investors often gain similar exposure through structured financial instruments.
The Bank of Lithuania — Robinhood’s lead regulator in the EU — told CNBC on Monday that it is “awaiting clarifications” following OpenAI’s statement.
“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments,” a spokesperson said, adding that information for investors must be “clear, fair, and non-misleading.”
Tenev responded that Robinhood is “happy to continue to answer questions from our regulators,” and said the company built its tokenized stock program to withstand scrutiny.
“Since this is a new thing, regulators are going to want to look at it,” he said. “And we expect to be scrutinized as a large, innovative player in this space.”
SEC Chair Paul Atkins recently called the model “an innovation” on CNBC’s Squawk Box, offering some validation as Robinhood leans further into its synthetic equity strategy — even as legal clarity remains in flux across jurisdictions.
Despite the regulatory noise, many investors remain focused on Robinhood’s upside, and particularly the political tailwinds.
The company is positioning itself as a key beneficiary of Trump’s newly signed megabill, which includes $1,000 government-seeded investment accounts for newborns. Robinhood said it’s already prototyping an app for the ‘Trump Accounts‘ initiative.
Korean auto giants Hyundai and Kia think lower-priced EVs will help minimize the blow from the new US auto tariffs. Hyundai is set to unveil a new entry-level electric car soon, which will be sold alongside the Kia EV2. Will it be the IONIQ 2?
Hyundai and Kia shift to lower-priced EVs
Hyundai and Kia already offer some of the most affordable and efficient electric vehicles on the market, with models like the IONIQ 5 and EV6.
In Europe, Korea, Japan, and other overseas markets, Hyundai sells the Inster EV (sold as the Casper Electric in Korea), an electric city car. The Inster EV starts at about $27,000 (€23,900), but Hyundai will soon offer another lower-priced EV, similar to the upcoming Kia EV2.
The Inster EV is seeing strong initial demand in Europe and Japan. According to a local report (via Newsis), demand for the Casper Electric is so high that buyers are waiting over a year for delivery.
Advertisement – scroll for more content
Hyundai is doubling down with plans to introduce an even more affordable EV, rumored to be the IONIQ 2. Xavier Martinet, CEO of Hyundai Motor Europe, said during a recent interview that “The new electric vehicle will be unveiled in the next few months.”
Hyundai Casper Electric/ Inster EV models (Source: Hyundai)
The new EV is expected to be a compact SUV, which will likely resemble the upcoming Kia EV2. Kia will launch the EV2 in Europe and other global regions in 2026.
Hyundai is keeping most details under wraps, but the expected IONIQ 2 is likely to sit below the Kona Electric as a smaller city EV.
Kia Concept EV2 (Source: Kia)
More affordable electric cars are on the way
Although nothing is confirmed, it’s expected to be priced at around €30,000 ($35,000), or slightly less than the Kia EV3.
The Kia EV3 starts at €35,990 in Europe and £33,005 in the UK, or about $42,000. Through the first half of the year, Kia’s compact electric SUV is the UK’s most popular EV.
Kia EV3 (Source: Kia)
Like the Hyundai IONIQ models and Kia’s other electric vehicles, the EV3 is based on the E-GMP platform. It’s available with two battery packs: 58.3 kWh or 81.48 kWh, providing a WLTP range of up to 430 km (270 miles) and 599 km (375 miles), respectively.
Hyundai is expected to reveal the new EV at the IAA Mobility show in Munich in September. Meanwhile, Kia is working on a smaller electric car to sit below the EV2 that could start at under €25,000 ($30,000).
Kia unveils EV4 sedan and hatchback, PV5 electric van, and EV2 Concept at 2025 Kia EV Day (Source: Kia)
According to the report, Hyundai and Kia are doubling down on lower-priced EVs to balance potential losses from the new US auto tariffs.
Despite opening its new EV manufacturing plant in Georgia to boost local production, Hyundai is still expected to expand sales in other regions. An industry insider explained, “Considering the risk of US tariffs, Hyundai’s move to target the European market with small electric vehicles is a natural strategy.”
2025 Hyundai IONIQ 5 (Source: Hyundai)
Although Hyundai is expanding in other markets, it remains a leading EV brand in the US. The IONIQ 5 remains a top-selling EV with over 19,000 units sold through June.
After delivering the first IONIQ 9 models in May, Hyundai reported that over 1,000 models had been sold through the end of June, its three-row electric SUV.
While the $7,500 EV tax credit is still here, Hyundai is offering generous savings with leases for the 2025 IONIQ 5 starting as low as $179 per month. The three-row IONIQ 9 starts at just $419 per month. And Hyundai is even throwing in a free ChargePoint Home Flex Level 2 charger if you buy or lease either model.
Unfortunately, we likely won’t see the entry-level EV2 or IONIQ 2 in the US. However, Kia is set to launch its first electric sedan, the EV4, in early 2026.
Ready to take advantage of the savings while they are still here? You can use our links below to find deals on Hyundai and Kia EV models in your area.
FTC: We use income earning auto affiliate links.More.
As EVBox shuts down its Everon business across Europe and North America, EV charging provider Blink Charging is stepping up to offer support to customers caught in the transition.
EVBox’s software arm Everon recently announced it’s winding down operations alongside EVBox’s AC charger business. That’s left a lot of charging station hosts and drivers wondering what comes next. Now, EVBox Everon is pointing its customers toward Blink as a recommended alternative.
Blink says it’s ready to help, whether that means keeping existing chargers up and running or replacing aging gear with new Blink chargers.
“EVBox has played a significant role in the growth of EV charging infrastructure across the UK and Mainland Europe, and we recognize the trust hosts have placed in its solutions,” said Alex Calnan, Blink Charging’s managing director of Europe. “With the recent announcement of Everon’s withdrawal from the EV charging market, it’s natural to have questions about what this means for operations. At Blink, we want to assure Everon customers that we are here to help them navigate this transition.”
Advertisement – scroll for more content
Blink says it’s able to offer advice, replacements, and ongoing network management to make the changeover as smooth as possible.
Everon users who switch to Blink will get access to the Blink Network portal via the Blink Charging app. That opens up real-time insight into charger usage and lets hosts set pricing, manage users, and download performance reports.
“At Blink, our charging technology is future-ready,” added Calnan. “With advancements like vehicle-to-grid technology on the horizon, our chargers are built to support the future of electric vehicles and charging habits.”
The company says its chargers are in stock and ready to ship now for any Everon customers looking to make the jump.
In October 2024, France’s Engie announced it would liquidate the entire EVBox group, which it said posted total losses of €800 million since Engie took over in 2017. EVBox is closing its operations in the Netherlands, Germany, and the US.
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.