An all-electric version of the popular Range Rover Sport is set to debut later this year. The Range Rover Sport EV will look very much like its gas-powered predecessor as a legitimate rival to Porsche’s best-selling Cayenne SUV.
Range Rover preps first all-electric SUV
If you’re shopping for a high-end SUV, Range Rover and Porsche are two of the top names that often come to mind.
Coming off its highest quarterly profit since 2017 in Q4, Jaguar Land Rover said it continues to see strong demand for its premium models. JLR’s Range Rover brand achieved record quarterly wholesale figures.
The highest-spec Range Rover SV, with an average price of $260,000 (£202,000), has already surpassed last year’s sales through the first three months of 2024 (3,637 vs 1,909).
Meanwhile, the Range Rover brand is preparing to launch its first all-electric vehicle. The company said the first Range Rover EV is “generating strong interest,” with over 16,000 potential buyers on the waitlist.
The “most refined Range Rover ever created,” according to JLR, is hitting the streets for testing ahead of the electric SUV’s official debut later this year.
JLR said last month that electric Range Rover prototypes are being tested on the road, while a medium-size SUV prototype is in development.
Range Rover Sport EV set to debut this year
In addition to the electric SUV, a smaller Range Rover Sport EV is expected to be revealed later this year.
Although JLR’s initial plans, revealed in 2021, called for six all-electric models across the Range Rover, Discovery, and Defender brands by 2026, the company recently pushed back its target.
After reporting Q3 2023 earnings, the company said it aimed to launch four EVs over the next two years. CEO Adrian Mardell admitted, “We are a little bit slower than we said three years ago.”
Madell recently told reporters that the delay is to ensure new EVs hit the market without any hiccups.
“We talked about six Land Rovers by 2026. The reality is we’re likely to have six JLR products by 2026,” Mardell explained.
The six EVs include the electric Range Rover and Sport EV versions. Both will be based on JLR’s MLA platform, which powers the current gas-powered models.
Two smaller electric SUVs are due out, expected to be EV versions of the Range Rover Evoque and Velar models. The other two EVs due out by 2026 will be Jaguar. JLR confirmed the transformation at its plants is “on pace” for EV production.
The electric Range Rover and Sport EV models will be built at its Solihull, UK, plant, where a new $77,000 (£60 million) EV underbody line is being installed.
JLR’s new body shop in Halewood is “near completion” for the upcoming smaller EVs built on the EMA platform.
The Defender Sport is set for an electric replacement, while a new mini Defender EV is also expected to launch over the next few years.
Range Rover’s upcoming EV features new active road noise cancellation tech for an upgraded cabin experience that’s nearly silent. It will also include towing, wading, and all-terrain features that will “surpass any other luxury electric SUV.”
Range Rover said its first all-electric SUV will be able to plow through up to 850 mm (33.5″) of water. That tops the massive GMC Hummer EV at 32″.
On today’s episode of Quick Charge, Hyundai doesn’t care if incoming President Trump kills the $7,500 Federal EV tax credit, California’s planning to offer an EV tax credit of their own, and there’s a massive new solar project in Texas prairie land.
We’ve also got Tesla hoping to meet its Q4 sales goals by throwing all the EV demand levers in China while, at the same time, looking to hire remote drivers for its so-called “autonomous” robotaxis.
Today’s episode is sponsored by BLUETTI, a leading provider of portable power stations, solar generators, and energy storage systems. For a limited time, save up to 52% during BLUETTI’s exclusive Black Friday sale, now through November 28, and be sure to use promo code BLUETTI5OFF for 5% off all power stations sitewide. Learn more by clicking here.
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World Liberty Financial, the Trump-branded crypto platform, aspires to be a sort of digital asset bank, where customers will be encouraged to borrow, lend and invest in digital coins.
Trump has licensed his name and promotional considerations to the venture through an LLC, with no assumption of liability. In exchange, Trump’s LLC received billions of tokens and the right to 75% of revenues above a $30 million threshold.
The platform launched a WLFI token last month, and said in a roadmap that it was looking to raise $300 million at a $1.5 billion valuation in its initial sale.
Before Sun’s investment, $21.2 million worth of the token had been sold. As of Monday afternoon, $51.2 million worth of the token had been sold, according to its website. Sales now appear to have crossed the $30 million threshold to trigger revenue distribution to Trump’s LLC.
“The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump ! TRON is committed to making America great again and leading innovation. Let’s go!” added Sun.
WLFI co-founder Zachary Folkman has said “well over 100,000 people” are on the whitelist to invest in the token. But as of Monday afternoon, only about 20,400 unique wallet addresses hold the token, according to blockchain data tracked by Etherscan, representing roughly 20% of the total number of people who registered.
“There have been a number of similarly significant purchases in recent weeks, and we are confident about future success and building out something that helps to make finance freer and fairer,” Folkman said in a statement. “We expect more such developments to happen in the coming weeks and months.”
While Trump does not take office until January, Sun’s investment in WLFI, and the revenue it appears to direct to Trump’s LLC under the terms disclosed, highlights the way Trump’s newer business ventures, like his social media company Trump Media Technology Group and this crypto venture, could offer more direct opportunities for individuals to enrich the president-elect than Trump’s hotels and office buildings did.
During Trump’s first term in office, there were near constant questions about whether foreign governments’ lavish spending on rooms and banquets at Trump’s Washington, D.C. hotel amounted to violations of the Constitution’s “emoluments clause.”
The clause bars federal office holders from accepting payments or things of value from foreign governments and their representatives.
But Trump’s hotel rooms and office space have relatively fixed prices, and costs that cut into total profits.
By contrast, the investors in Trump’s newer ventures — as demonstrated by Sun’s token purchase — can inject tens of millions of dollars, instantly, with little to no cost to Trump.
Spokespeople for the Trump presidential transition, World Liberty Financial and Sun’s Tron did not immediately reply to requests for comment.
Sun’s purchase comes as Trump actively works to assemble his list of appointees. The president-elect wrapped up cabinet appointments over the weekend and has since moved on to other agency and department leaders.
By the end of the week, longtime crypto foe and SEC chairman Gary Gensler, whose term doesn’t expire until June 2026, announced he would be retiring on Inauguration Day.
Trump has yet to select a nominee to lead the SEC in Gensler’s place. Under new leadership, the securities regulator could choose to drop some of its enforcement actions against major crypto ventures. It’s unclear how Tron’s case could be impacted.
In March 2023, the commission unveiled fraud and unregistered securities charges against Sun, alongside separate violations against the celebrity backers of his Tronix and BitTorrent crypto assets, which included Jake Paul, Lindsay Lohan and Soulja Boy.
The SEC alleged that Sun engaged in fraud by manipulating the trading activity of the two tokens, creating the appearance of active trading when it did not exist. The unregistered offer and sale charges, on the other hand, are similar to charges the SEC has unveiled against other crypto offerings and exchanges, including Genesis, Gemini, Coinbase, Binance, and Kraken.
The crypto industry showed up in force this election cycle. Several notable sector leaders including Gemini co-founders Tyler and Cameron Winklevoss, as well as multiple C-suite executives from crypto firms battling the SEC, donated to PACs supporting the Trump campaign.
Veteran bicycle brand and e-mobility innovator Huffy is joining the Black Friday sales festivities with an exclusive deal for Electrek readers on its 36-volt Electric Green Machine drift trike. Use the promo code below for 30% off your purchase.
Huffy puts over 130 years of experience into its products
Huffy is easily a household name in bicycles. The company is celebrating over 130 years in the segment and has shown no signs of slowing down. The brand is sold across thousands of retail locations and ships millions of bikes to customers throughout the US and 40 additional international markets each year.
The Huffy name is known for products that deliver riders comfort, style, and durability. Whether on a bike, trike, scooter, or ride-on, there’s something for every member of the family to enjoy. Since 2019, Huffy has been calling riders together with its rally cry, “Live the Ride,” which encourages families to celebrate togetherness by exploring the outdoors atop its products.
Whether that means leisurely rides through local parks with friends, family outings, traversing local trails, or exploring new cities during a summer getaway, Huffy strives to remind riders of the simple youthful joy that riding can bring.
Since Huffy launched the 20” Green Machine in 2023, teens and adults have been asking for a version that would allow them to experience the same adventure, fun, and thrill of each spin and drift. Huffy answered the call with their new Electric Green Machine, a nostalgic and electrified version of the classic drift trike Huffy fans know and love. This powerhouse drift-trike is packed with 36 volts of electric power and a 250-watt front hub motor that lets riders reach exhilarating speeds of up to 15 miles per hour. Perfect for thrill-seekers ages 14 and up, the Electric Green Machine reignites the fun and excitement of childhood rides.
All of Huffy’s products, including the Electric Green Machine seen below, are thoughtfully crafted for the moments that happen when you pop up your kickstand and see where the path takes you. In the case of the E-Green Machine, Huffy wants riders to unleash a whirlwind of thrilling drifts and slides right when they climb into the cockpit.
To help even more riders experience holiday thrills this season, Huffy is offering an exclusive discount on the Electric Green Machine for Electrek readers. Whether buying it for yourself or friends and family, the Electric Green Machine is the perfect gift to put under the tree this holiday season. If you’re ready to start drifting, use the promo code below to save some “green” on your purchase⎯but only for a limited time!
Don’t miss Huffy’s Black Friday deal on the Electric Green Machine
The new Electric Green Machine is available on Huffy.com for $599.99. However, you can use promo code “ELECTREKGM” at checkout for 30% off your purchase (valid on the Electric Green Machine only).
Huffy’s Black Friday deals are available now, but only until 11:59 PM on December 8, 2024, so act quickly while supplies last. This year, holiday thrills start with red and green at Huffy. Be sure to take advantage of this limited-time offer and check out the other limited-time deals on Huffy’s site this week (offering up to 55% across a range of products).
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