The competition is fierce: There are more than 900 EV charging companies around the world, and they all want prime locations for fast public chargers, according to a new report from Reuters.
As global bans on ICE vehicles loom over the horizon, the sector is attracting a ton of players and investors, drawing in more than $12 billion in venture capital funding since 2012, according to PitchBook.
“If you look at our customers, it’s like a land grabbing game now,” Tomi Ristimaki, CEO of Finnish EV charger manufacturer Kempower told Reuters. “Who gets the best locations now can guarantee electricity sales in the coming years.”
Tesla is the king in the US, but more fuel stations and convenience stores are setting up contracts with other companies, with the number of fast charging networks expected to double to 54 in 2030 from 25 in 2022, according to EVAdoption’s CEO Loren McDonald, who spoke to Reuters. Prime spots include places like Walmart, Circle K, and Pilot – GM and Pilot Flying J are putting EVgo chargers at Flying J rest stops throughout the US. Plus the search is on for prime real estate to construct purpose-built “mega-facilities” with a few dozen fast charge units, with plenty of amenities on offer.
Also charging companies are clamoring to get exclusive contracts with companies like McDonald’s and Starbuck’s. France’s Iziva recently landed a deal to set up fast chargers at McDonald’s locations in France, and Instavolt, owned by EQT, has done the same with McDonald’s in the UK.
An EV charging station placed in a prime location can take about four years before it becomes profitable “once utilization hits around 15%,” Reuters says. Europe slows this process down due to bureaucratic red tape, but either way, it’s still viewed as an enticing bet for long-term infrastructure investments such as Infracapital (Norway’s Recharge owner), the report said.
While there are a ton of small startups in the game now, pitted against bigger players, consolidation is on its way. So we can expect to see a lot of name changes and logos in the coming years, according to the report.
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A Tesla Cybertruck sank in Ventura harbor in California when trying to launch a jetski despite Tesla CEO Elon Musk saying that you could use the truck as a boat.
Elon Musk has often made claims before about how Tesla vehicles could float and briefly serve as a boat.
They have never been taken too seriously because Tesla’s warranty says something different about taking the vehicle into the water.
However, the CEO doubled down on the claim with Cybertruck.
Cybertruck will be waterproof enough to serve briefly as a boat, so it can cross rivers, lakes and even seas that aren’t too choppy.
The CEO added that the goal is for a Cybertruck to be able to cross the water between SpaceX’s Starbase and South Padre Island in Texas, which is about 360 meters (1,100 feet).
We have been taking the Cybertruck more seriously with water because we learned that Tesla built a ‘wade mode’ for the truck to be able to go into the water. Tesla says the mode increases the ride height to the max and “pressurizes the battery pack.”
The problem is that it is activated through the off-roading mode, which is not covered under Tesla’s warranty – so we are taking everything with a grain of salt.
Tesla Cybertruck Sank in Ventura
A Tesla owner in California learned the hard way that Cybertruck is not a boat.
The incident happened in Ventura harbor in California on Monday. The Cybertruck owner was launching a jet ski on the boat ramp when he couldn’t get the truck out of the water (via Safety for Citizens)
Beginning shortly before 11:00am, a man had to scramble out of his Cybertruck Monday morning, March 10 of 2025, after the truck fell into the harbor. The man was attempting to launch a jet ski at the time of the accident.
The owner managed to get out, but the truck sank into the water:
The Cybertruck sunk and became completely submerged off the boat launch ramp. A diver from the Coast Guard assisted a tow driver in attaching cables and ropes to the vehicle.
The rescue effort involved the Ventura City Fire Department, Vessel Assist, Tow Boat US, Harbor Patrol, additional Harbor resources, and the Coast Guard.
They shared a few pictures of the rescue effort:
Electrek’s Take
To be fair, it could also be a user error, but either way, I wouldn’t take the Cybertruck into any body of water.
Meanwhile, BYD is just trolling Tesla by actually doing what Elon claimed the Cybertruck would be capable of doing:
It really feels like Tesla is being surpassed based on every metric possible.
Getting solar at your home is one of the best financial moves you can do while helping the economy move away from fossil fuels. To find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage. EnergySage is a free service that makes it easy for you to go solar – whether you’re a homeowner or renter. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20 to 30% compared to going it alone. Some installers even offer Tesla products. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
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Toyota wants everyone to have access to affordable, convenient EV charging. Through its partnership with EVgo, Toyota opened its first EV fast charger on Monday. The new co-branded stations, with 350kW fast chargers, can serve up to eight EVs.
Toyota, EVgo open first 350kW EV fast charger
The new DC fast charging station opened in Baldwin Park and Sacramento, California, as part of Toyota’s “Empact” vision.
Toyota announced the initiative almost two years ago, aimed at expanding charging access in underserved communities.
“Together with EVgo, we are supporting broader access to charging infrastructure for all battery EV drivers, including those driving Toyota and Lexus BEVs,” Toyota North America General Manager of EV charging solutions, James George, said at the event.
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The new stations are near “amenity-rich” areas with nearby grocery stores, restaurants, shopping malls, and other businesses.
Scott Levitan, EVgo’s executive vice president, explained that charging availability is “essential” as more drivers choose electric. The new charging stations are strategically located to provide affordable, convenient access to the surrounding communities.
Toyota and EVgo open first 350kW EV fast charging station (Source: EVgo)
State Assemblywoman Blanca Rubio, D-Baldwin Park, said the new stations will “support the city’s residents and visitors,” adding, “Fast charging stations provide critical infrastructure that will amplify the use of clean energy transportation across Senate District 8.”
Toyota and EVgo’s initiative is “a win for our environment and for the future of sustainable mobility in Sacramento.”
2025 Toyota bZ4X Limited AWD Supersonic Red (Source: Toyota)
As one of the nation’s largest public fast-charging operators, EVgo has already deployed over 1,100 stations across 40 US states. As more drivers choose an EV, EVgo will continue partnering with automakers like Toyota to expand fast-charging access.
2025 Toyota bZ4X Nightshade edition (Source: Toyota)
EVgo and Toyota also expanded their partnership to offer one year of free public charging to those who buy or lease a new 2025 bZ4X.
The 2025 Toyota bZ4X starts at $37,070, or $6,000 less than the 2024 model. It also gained a stealthy new “Nightshade” edition, Toyota’s first EV to receive the new trim.
2025 Toyota bZ4X trim
Starting Price (excluding $1,395 DPH fee)
Price reduction (vs 2024MY)
Range (mi)
XLE FWD
$37,070
-$6,000
252
XLE AWD
$39,150
-$6,000
228
Limited FWD
$41,800
-$5,380
236
Limited AWD
$43,880
-$5,380
222
Nightshade
$40,420
N/A
222
2025 Toyota bZ4X prices and range by trim
At 184.6″ long, Toyota’s electric SUV is slightly longer (3.7″) than the RAV4. However, the rear feels more roomy with a longer wheelbase and flat floor design.
On the inside, the 2025 model remains about the same. It includes a standard 12.3″ touchscreen with wireless Apple CarPlay and Android Auto support.
If you’re ready to test out Toyota’s electric SUV for yourself, we can help you get started. With leases starting at just $259 per month, the 2025 bZ4X is a steal this month. You can use our link to find Toyota bZ4X models at a dealer near you and take it for a spin.
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Brooklyn-based e-bike conversion kit maker CLIP has launched BOLT, a front-mounted electric motor designed to transform standard bicycles into e-bikes. The company is marketing the device as the world’s most affordable quick-install e-bike upgrade, with a focus on making electrified transportation accessible in low-to-moderate income communities and emerging markets.
Unlike traditional e-bikes, which often start at around US $1,000 and go up quickly from there, BOLT is positioned as a low-cost alternative. The device features a 450W motor and a swappable battery system, providing pedal assistance up to 15 mph (25 km/h).
The kit installs on the front fork of most adult bicycles, making it an option for riders who want an e-bike experience without purchasing a dedicated electric bicycle.
While CLIP has previously targeted the business-to-consumer (B2C) market with its easily mountable e-bike conversion kits, BOLT will be distributed primarily through business-to-business (B2B) channels. The company seems to have its sights set on bike sharing and other commercial operators of bike fleets.
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In the US and Europe, CLIP is selling the system to businesses for $250, including two 144 Wh battery packs. In emerging markets, BOLT will be offered at a $100 price point, excluding the battery, with users paying a $5 per month subscription fee to access rechargeable battery swaps through local partners.
“BOLT is designed to make e-bike commuting truly accessible and equitable for people everywhere, from New York to New Delhi,” said Som Ray, Founder and CEO of CLIP. “BOLT removes the price barriers of traditional e-bikes while maximizing environmental impact to scale sustainable transportation worldwide.”
CLIP is framing BOLT as both an environmental and social mobility tool, citing the high cost of traditional e-bikes as a barrier to widespread adoption. The company states that over 60% of its riders come from low-to-moderate-income communities, and it plans to partner with local organizations to expand access.
The product is being marketed as a low-impact alternative to full e-bike production, with CLIP claiming that BOLT requires 50 times fewer resources to manufacture and has a 30 times smaller logistics footprint compared to conventional e-bikes. The system is manufactured in Kolkata, India, with localized assembly in North America, Europe, and India.
CLIP has positioned BOLT as a disruptive force in e-bike affordability, which tracks with the device’s rather rare design. Instead of a traditional hub motor or mid-drive motor, CLIP uses a friction drive that presses against the front tire of the bike, forcing it to roll forward. The device’s front-mounted motor configuration is notably different from mid-drive or rear-hub e-bike motors. Additionally, its business-to-business sales model means that individual riders will not be able to purchase the system directly, relying instead on third-party distribution networks.
The company has yet to announce specific partnerships or large-scale deployments, though it has set ambitious climate goals. It claims that widespread adoption of BOLT could eliminate up to 3.7 million metric tons of carbon dioxide emissions annually.
As BOLT appears set to enter the market, its impact on the growing e-bike sector remains to be seen. With its low price point and modular design, the system could appeal to budget-conscious riders if it proves to be a viable and reliable alternative to traditional e-bikes.
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