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Inside Austin's bitcoin underground

AUSTIN — There is a sort of clubhouse for Austin’s bitcoin believers on the second floor of the Littlefield Building at the corner of Congress Avenue and Sixth Street. The hideaway is at the crossroads of two worlds — the majestic thoroughfare that leads to the Texas State Capitol and the iconic, albeit notorious, stretch of bars, restaurants, and live music that define the capital’s party vibes. It’s an apt metaphor for the space itself.

The Bitcoin Commons is, at once, many things.

By day, it functions as an open plan, fluorescent-lit co-working space for the more corporate-minded bitcoin operators, but at night, it moonlights as a safe space for underground meet-ups of the industry’s rogue actors. Periodically, it plays host to conferences that draw in a mix of attendees ranging from venture capitalists to armed preppers living entirely off the grid. And on some afternoons, once happy hour hits, the kitchen at the back is retrofit with a stowaway bar.

“We also fund developers, and we help them advance their projects,” said Parker Lewis, one of the stewards of the Commons, as well as the author of a new book on bitcoin called “Gradually, Then Suddenly.”

“We help advance bitcoin through education and actually developing the monetary network, the code base, and the applications,” said Lewis, who is widely considered to be one of Texas’ de facto bitcoin ambassadors.

Francisco Chavarria was born in Mexico City and spent time in Salt Lake City, but three years ago, he made the move to Austin to be a part of a community of like-minded thinkers. His company, Yopaki, which is a neobank for bitcoin focused on the Latin American market, just won first place in a hackathon put on at the Commons.

“If you talk to other builders in the competition, a lot happens here,” said Chavarria. “There definitely is a sense of, ‘I don’t need for others to lose for me to win.’ There really is a relationship and a collaboration for bitcoin to succeed.”

“Right now it feels like we’re all winning because of the price, but those of us who have been building in the bear market, we know,” Chavarria added.

Austin’s “Bitcoin Commons” hosts regular meetups and conferences for the city’s bitcoiners.

CNBC

Bear or bull market, bitcoiners have flocked to Austin because of a combination of pro-crypto policies, abundant, renewable energy, and an ever-growing network of some of the brightest developers and miners on the planet. And even in the price doldrums, they typically bring the same level of enthusiasm to the conversation — though bitcoin’s recent stretch of record-breaking price moves has gone a long way toward boosting morale.

In March, bitcoin hit multiple, fresh all-time highs, as trader enthusiasm for the digital asset sector soared. A lot of that price run-up has to do with the record flows into the newly-launched spot bitcoin exchange-traded funds in the U.S., led by the world’s largest asset manager Blackrock and its $15.5 billion iShares Bitcoin Trust, which have helped to solidify bitcoin’s place as an asset class that’s here to stay.

Collectively, these spot ETFs have brought in around $60 billion, and in some cases, they have been breaking records for ETF flows altogether.

“The biggest driver is certainly the ETF flows, which have surpassed the expectations of all but the most bullish pundits,” said Castle Island Venture’s Nic Carter of bitcoin’s record price moves this month. “And these blockbuster flows have materialized before the major wirehouses, asset managers, and RIAs have actually approved the ETF for their clients.”

Carter added that there is also new liquidity coming into bitcoin from Asian markets via two main pathways: bitcoin’s version of non-fungible tokens known as ordinals, as well as bitcoin-issued coins called BRC20 tokens.

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Underground vibes with an open bar

In the last 20 years, Austin has matured into one of the country’s leading tech centers, a trend accelerated by the Covid pandemic, which saw industry leaders migrate en masse from California.

“Bitcoin was founded in 2009. A lot has happened post-financial crisis. Austin was already emerging as a tech center, and you know, enter bitcoin, and it just became the logical home,” said Lewis, who runs business development at Zaprite, a bitcoin-native financial services firm.

It helps that Texas is a libertarian-friendly state that actively supports free market policies. It has proven to be a big draw for a group of people who think of bitcoin as a way of life — that is, a monetary network that is decentralized, borderless, and doesn’t answer to central banks or governments.

Austin’s “Bitcoin Commons” draws in an eclectic mix of people, including venture capitalists, bitcoin miners, and coders.

CNBC

Many hardcore bitcoiners ironically embrace the term maximalist or maxi as a way to self describe. In Texas, though maxis exist along a professional spectrum from venture capitalists, to miners, coders, company executives, and generalist techies, the eclectic tribe have a few things in common. Many are family-oriented, patriotic carnivores with an aversion to the overreach of government and a strong belief in the right to bear arms, among multiple other personal, individual liberties.

Bitcoin’s eponymous Austin lair, which is adorned with the Texas state flag and bitcoin memorabilia, has adopted Chatham House rules for many of its events to protect the identities of those conversing within its walls. One such meetup is the monthly BitDevs (short for bitcoin developers) gathering, where bitcoin builders, investors, and the bitcoin curious are all welcomed, so long as no pictures or videos are taken.

At these meetings, topics run the gamut, from detailed discussions about code to concerns that the Microsoft-maintained GitHub may pose a greater existential threat to the bitcoin network since much of the development work and conversations among coders happen on that platform. At one such gathering, the moderator of the two-hour session asked the room who ran a bitcoin node. More than half of the people in attendance raised their hands.

After attending multiple Austin BitDev meetups over the last three years, a few common conversation themes have emerged, including the focus on identifying threat vectors to the network and brainstorming workarounds. Beyond software, there are also concerns over hardware vulnerabilities, given that the ASIC chip used in bitcoin mining rigs are manufactured out of China, a country which has proven hostile to the crypto sector in recent years.

The “Bitcoin Commons” functions as a sort of clubhouse for the city’s bitcoin believers. It puts on a mix of programming, including conferences and hackathons, as well as hosts a co-working space by day.

CNBC

VCs flock back to bitcoin

The Commons hosted a hackathon, BitDevs, and a one-day conference dubbed the Bitcoin Takeover on the sidelines of the annual South by Southwest tech festival, which put on virtually no crypto programming this year.

Across those multiple gatherings, there was a newfound interest in talking about the burgeoning ecosystem of projects building on top of bitcoin’s blockchain, which began to heat up with the introduction of ordinals in Jan. 2023 — bitcoin’s version of non-fungible tokens.

One underrated driver of bitcoin’s recent rally is new programming innovations that may allow it to reach technological parity with ethereum. These advancements involve beefing up the bitcoin ecosystem with tools like smart contracts, which are programmable pieces of code that help to eliminate middlemen like banks and lawyers from transactions. That makes it easier for developers to create products and applications for consumers.

BitVM, for example, has a promising plan to do just that. It is ultimately trying to bring smart contracts to the bitcoin network, which has helped spur this renaissance of interest in layer two technology — that is, the startups being built on top of bitcoin’s base chain.

“I’ve never seen deal pacing move this aggressively in the bitcoin space in my entire career,” Carter tells CNBC.

Indeed, the VC appetite for these layer two bitcoin projects has been picking up in the last few months.

PitchBook says that the fourth quarter of 2023 was the first time in almost two years that deal value in the crypto sector had increased, reaching $1.9 billion — up 2.5% from the previous quarter. While still well off the 2021 high of $31 billion, funds are building back interest, and trust, in the space.

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Grant Gilliam spent 15 years working in private equity in New York before pivoting to run a bitcoin VC fund called Ten31. This investment platform, which is focused exclusively on bitcoin, has invested $125 million of equity in aggregate since launching five years ago. More than $100 million was deployed in the last two years during the bear market.

“We invest across the bitcoin ecosystem across every major theme,” Gilliam told CNBC. “Anything that is relevant to bitcoin infrastructure, we like to say the picks and shovels of companies building products and services for holders of bitcoin.”

Gilliam, who spent a few years commuting from New York to Austin every month for the BitDevs meetup, said that some of the layer two bitcoin investments are more hype than substance, but he’s still bullish overall on the deal space. 

“There’s been a lot of L2 hype lately, mainly driven by the ordinals, and inscriptions, developments or innovations, if you want to call it that,” Gilliam said. “There’s a lot of activity in that right now, but we haven’t been as focused on that. It’s our firm view that the ordinals will prove to be a passing fad.”

Gilliam says that Ten31 is focused on basic building blocks of the ecosystem, such as companies that are providing financial services, which could be custody trading and lending, or projects that are working to scale the lightning network.

Lightning, with is the layer two payment technology meant to realize bitcoin’s original vision of being peer-to-peer cash continues to struggle with the issue of reaching scale. Developers tell CNBC that a lot of engineering work remains to close that gap.

The Boys Club put on its own Austin summit on the sidelines of SXSW with programming on the new internet, crypto, and digital culture.

CNBC

Bitcoin-halving country

“Number go up” is a big mantra among bitcoiners, but as the community evolves, so too does the thinking about the price of the coin.

“Price is really an output of many inputs of human beings, building tools to make bitcoin both more secure and a greater utility,” Lewis said. “Price is the best indicator of more people coming to the conclusion that bitcoin is money, and it’s a better store of value, so it is very relevant.”

Every four years, bitcoin undergoes a market making event known as the halving. It cuts the production of new bitcoin in half, and it has typically come before a major run-up in the price of bitcoin.

Miners from around the world flocked to Texas when China banned the practice in 2021, attracted by the abundant renewable energy and a grid that’s friendly to flexible buyers of power — both ideal conditions for miners.

In April, however, the profits for these bitcoin miners will be cut in half.

For some, it may prove an Armageddon-level event. Others have braced for impact by swapping out their fleet of machines for more efficient rigs. The price run-up in bitcoin has also helped to give some of these companies a buffer in their profit margins.

West Texas miner Jamie McAvity has 60 megawatts at his mining site. It runs on a part of the grid that is 90% powered by a mix of solar and wind power.

“If you’ve been in for more than one cycle, you have situated yourself in a place where you can resist the halving to the best of your ability,” McAvity told CNBC at Austin’s Bitcoin Commons.

McAvity, who previously worked for ten years as a trader on the floor of the New York Mercantile Exchange, added that ETF flows have helped to change the pricing dynamics for the world’s largest coin.

“The spot ETF inflows are so massive that reducing the available supply of newly mined bitcoins from 900 to 450, is probably going to be immaterial relative to that,” he said.

“But who knows, the ETFs could cool off for a while, and it’s hard for someone to credibly say that a reduction in supply is not going to change the market price equilibrium, because that’s a fundamental principle of market economics,” he added.

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Altcoin mania

A ten minute walk west from the Bitcoin Commons is the Austin Proper Hotel, a five-star establishment where the lighting is intentionally dim to strike a certain mood. Here, the Boys Club, a popular and buzzy, female-led organization which self-describes as a “social collective bringing new voices to the new internet” put on its own crypto conference on the sidelines of South by Southwest.

The Boys Club caters to a more blockchain agnostic crowd, where the focus is less on exclusivity to one coin or chain — and more about borrowing the best features from across the ecosystem to solve problems in the real world.

CNBC caught up with Micha Benoliel at the one-day summit. Benoliel built Nodle, a decentralized wireless network that’s now getting into the business of using the blockchain to battle AI-powered deepfakes.

“Blockchain is the only way to make a record that is immutable, and is going to prove the time at which this photo has been taken, or video, and also to help you prove the location and other elements that are going to reinforce that proof, so it creates a real immutable proof of authenticity,” he said.

The Boys Club put on its own Austin summit on the sidelines of SXSW with programming on the new internet, crypto, and digital culture.

CNBC

The one-day popup event gathered together more of a web3 crowd to talk about everything from the latest trends in tokenization to the resurgence of on-chain meme culture.

Similar to other bull runs in the price of bitcoin, some altcoins have seen a meteoric rise alongside blue chip names in crypto, because they’re seen as a comparatively cheaper buy.

Dogecoin, a meme-coin that was started as a joke, now has a market cap of nearly $25 billion, placing it in the top ten most valuable cryptocurrencies on the planet. Boden, a coin named after President Joe Biden, saw a run-up of more than 800% in a six-hour window after Super Tuesday, and the newly popular DogWifHat is collectively worth more than $2 billion.

Typically, this is the bellwether of a peak bubble moment, but analysts say that despite frothy conditions, this bull run is different to past cycles.

The price of bitcoin is cyclical, and it sees price run-ups roughly every four years. Each time, the price floor is higher. What’s also a departure this time around is the fact that institutional money is here in a way that it hasn’t been during past bull runs.

Binance staff detained in Nigeria as country claims crypto investments are devaluing its currency

Fundamentals in the crypto market are playing a big role, as well.

In a note from JPMorgan on Mar. 15, analysts credit ether, the world’s second-biggest crypto token by market cap, for being a significant driver of crypto’s recent gains, including Coinbase‘s stock price rise. Ether has rallied nearly 50% so far this year, recently breaching the $4,000 price level and outpacing bitcoin’s returns, before paring back some gains.

“While the focus of the cryptocurrency marketplace has been the net new money going into U.S. spot Bitcoin ETFs and the positive impact on Bitcoin token prices (here, the spot Bitcoin ETF and its ultimate launch in January has driven the cryptoecosystem over the past several months), we see impact of ETH appreciation also as particularly meaningful,” JPMorgan wrote.

Regulators in the U.S. remain a universal concern for the crypto sector, especially amid reports of the Securities and Exchange Commission probing crypto companies building on the ethereum network.

Still, many in the space, including coders and investors remain optimistic.

Ethereum, the blockchain that underpins ether, underwent a major upgrade on Mar. 13 dubbed Dencun. Developers told CNBC it was expected to slash transaction fees by up to 90%. That is game-changing not just for the end-users, but also for the coders building apps on top of ethereum.

Base, crypto exchange Coinbase’s self-built layer two network, is ethereum-based and allows developers to more easily build decentralized apps. Coinbase’s Base lead, Jesse Pollak, anticipates this will open the door to applications in both the gaming and decentralized social media arena now that it is no longer nearly as cost prohibitive to build these types of programs.

“The thing that is happening with Dencun is we’re going to create a whole new kind of storage on ethereum that’s purpose built for Layer 2s like Base,” Pollak told CNBC.

“That means that right now we pay a ton to ethereum, and we’re going to pay a lot less, which is going to lower the fees for everyone. Because ethereum is basically going to build a product purpose built for us,” continued Pollak.

Chris Dixon, crypto chief at venture firm a16z, echoed that sentiment, noting that part of their portfolio is focused on these startups.

“The core idea is that if you build a social network, or a game or a financial service, on top of the blockchain, it has all sorts of benefits where the money and control flow out to the users and the creators that access the network, as opposed to the companies that control it,” said Dixon. “In the same way that steel was a better way to build bridges and buildings than wood was in the Industrial Revolution, blockchains are a building material.”

All eyes are on AI at SXSW

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Lectric XPress 750 e-bikes get free $557 bundle at $1,399 in April sale, Jackery units up to $1,900 off in flash savings, Kärcher, more

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April 3, 2025

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Lectric XPress 750 e-bikes get free 7 bundle at ,399 in April sale, Jackery units up to ,900 off in flash savings, Kärcher, more

Today’s Green Deals are led by Lectric’s newly launched April Showers Sale which has up to $654 in free add-on gear accompanying e-bikes, with the models aside from the XP 3.0 e-bikes retaining their earlier price cuts. Among the lineup though, the Lectric XPress 750 Commuter e-bikes are getting the largest bundle to date with $557 in free gear at $1,399. Right behind it is the latest collection of Jackery flash offers through April 6, like the Explorer 1000 v2 Portable Power Station at $499, among others. You can also score the popular Kärcher K1700 Electric Pressure Washer right now for one of its best prices ever at $105, as well as the Greenworks 3-tool combo that bundles a 80V 21-inch Lawn Mower, 13-inch String Trimmer, and 730 CFM Leaf Blower – all at a new $560 low, but only for the rest of the day. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s Segway Ninebot F3 eKickScooter preorder savings, Anker’s SOLIX weekend flash sale, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Lectric’s April sale offers largest bundle ever on XPress 750 Commuter e-bikes at $1,399 (Up to $654 in FREE add-ons)

After the exciting April Fool’s Day flash sale, Lectric has switched gears to its longer-lasting April Showers Sale that is offering up to $654 in free gear along with e-bike purchases. Of course, the XP 3.0 e-bikes are prominently featured once again, this time with $500 bundles, and we’re seeing the other models retain the price cuts from previous sales, but I wanted to take the time to shine a spotlight on the XPress 750 Commuter e-bike for $1,399 shipped that is getting $557 in free gear. This bundle would normally run you $1,956 in all, with this being the largest package to accompany the e-bike that we have seen to date. Along with your purchase, you’ll be getting a rear cargo rack, a suspension seat post, fenders to go over both wheels, an Elite headlight, adjustable rear mirrors, an accordion-style folding bike lock, a wide saddle, a phone mount, and a 1.5L top tube bag.

Coming with the option for a high-step or step-through frame, the XPress 750 e-bike is a solid choice for commuters who are looking for significant travel support, with my own regularly getting me across Brooklyn, never once having me concerned about running out of battery. It’s been given a 750W rear hub motor (that peaks at 1,310W), a removable 48V 14Ah battery, and comes supported by five levels of PAS that themselves are supported by a torque sensor – all to provide you with up to 60 miles of travel at 20 MPH speeds, which can go to 28 MPH should you live in a state that allows it. Of course, for those wanting to ride on pure electricity, there is a throttle here, though keep in mind it will lessen your mileage.

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There’s plenty of features that deserve some praise, like the hydraulic mineral oil brakes, the front suspension, and the puncture-resistant tires – all of which provide a heightened riding experience. But that’s not all, as there’s also the 7-geared freewheel alongside the Shimano derailleur, the integrated headlight and taillight, a thru-axle wheel attachment system for tool-free installations, the hidden cable routing system, removable pedals (which have helped more than you can guess), and a full-color display that has a USB-A port to charge your devices as you ride. Considering the sizeable package of additional gear, you’ll be loaded up and ready to cruise on through the seasons ahead.

Lectric April Shower Sale XPedition 2.0 bundles:

Lectric April Shower Sale XP 3.0 e-bike offers with $500 bundles:

Lectric April Shower Sale ONE LR e-bike with $467 bundle

Lectric April Shower Sale XP Trike with $420 bundle

Lectric April Shower Sale XPeak 2.0 bundles:

Lectric April Shower Sale XP Lite 2.0 bundles:

Jackery power station flash sale

Jackery takes up to $1,900 off a selection of home and outdoor backup power solutions starting from $90

Jackery is having a short-term flash sale through April 6 on a selection of power stations that can have you geared up for spring travels alongside any unexpected emergencies. Among the pool of offers, a solid choice for outdoor ventures is the brand’s Explorer 1000 v2 Portable Power Station for $499 shipped. It would normally cost you $799 to grab it at full price, but you’ll be getting a 38% markdown here while the savings last, with things matching over at Amazon, just be sure to clip the on-page coupon. While we have seen it go as low as $399, which was last seen during Black Friday sales, you’ll be getting $300 in savings at one of the lowest prices we have tracked. Head below to see all the other deals during this sale.

One of three newer v2 models, Jackery’s Explorer 1000 v2 delivers serious power output considering its more compact design, with up to 1,500W being sent to your devices/appliances normally while being able to surge to 3,000W for larger backup needs. All this is coming from its 1,070Wh LiFePO4 capacity through its seven port options: one USB-A, two USB-Cs, and three ACs, as well as a car port.

Plugging it into a wall outlet will give you back a full capacity in about 1.6 hours, or you could reach it in just on hour by activating its emergency charging feature through the smart controls on its companion app. There’s also the 600W maximum solar input that you can utilize to recharge from the sun’s rays. It comes rated for a minimum of 4,000 life cycles, meaning that you can charge and discharge it every day for nearly 11 years of backup support.

Jackery’s other power station flash sale offers:

Jackery’s accessory flash sale offers:

Karcher K1700 electric pressure washer

Kärcher’s K1700 2,125 PSI electric pressure washer hits one of its best prices ever at $105

Amazon is now offering the Kärcher K1700 Electric Pressure Washer for $104.99 shipped. Coming down off its more recent $170 rate, which is down from its $200 price tag, discounts over the last year have mainly been keeping things above $120, though we did spy it dropping to $106 at the end of February. Today though, you’re looking at one of the best rates ever, with the 38% markdown here (48% off its $200 pricing) giving you back $65 at the third-lowest overall price we have tracked – $2 and $5 above the lowest prices.

There’s always plenty of grime left over after winter that calls for some spring cleaning, and this pressure washer from Kärcher is ready to power you through it all with up to a maximum 2,125 PSI and 1.46 max GPM flow rate. It features an on/off foot switch for easier operations, as well as an onboard 0.5-gallon detergent tank for soap application needs. There’s even a detachable storage container that you can use to keep the 20-foot hose, wand, and three included nozzles organized.

Greenworks 3-tool combo

Tackle lawn duties with Greenworks’ 80V mower, trimmer, and blower combo at a new $560 low (Today only)

As part of its Deals of the Day, Best Buy is starting off April with the best rate yet on the Greenworks 80V 21-inch Lawn Mower, 13-inch String Trimmer, and 730 CFM Leaf Blower Combo that is down at $559.99 shipped through the rest of the day. This 3-tool package typically carries a $1,100 price tag outside of discounts, which we saw fall as low as $600 over 2024 and has come down to $570 so far in 2025 – until today. You’re looking at a 49% markdown through the rest of the day, saving you $540 at a new all-time low price. It’d be difficult to find this exact combo elsewhere, including Amazon, where a less advanced 3-tool combo is the closest match at $550.

With spring finally here, this 3-tool bundle is a solid choice for folks who need to tackle various jobs outside your home. The mower comes with an 80V brushless motor for more efficient operation that is powered by the included 4.0Ah battery for up to a 1/2 acre of runtime on one full charge, as well as offering seven cutting height levels for your grass. The string trimmer cuts in a 13-inch swath and sports the brand’s dual bump feed head for easier line replacement in the middle of work, which can go on for up to 80 minutes with the battery. You’ll get up to 730 CFM of air flow (about 170 MPH) from the leaf blower, which does have a variable speed control for easier handling. And what’s always nice about ecosystems like Greenworks’ is that you can also swap out the battery for any others you may have, not to mention losing the noise and fumes from gas-guzzling models.

We also spotted a bunch of Greenworks’ electric pressure washers down at some of their lowest prices too, with the GPW2003 2,000 PSI model, especially, hitting a new $135 low. You can also get your lawn’s soil back to proper health for the coming months with the brand’s 13A 14-inch Corded Dethatcher and Scarifier at $128.

Best New Year EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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Ford’s new strategy includes big discounts, employee pricing for all, and free EV chargers

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April 3, 2025

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Ford's new strategy includes big discounts, employee pricing for all, and free EV chargers

Ford-discounts

Ford’s vehicles are about to get a whole lot cheaper. With its new “From America, For America” campaign, launched Thursday, Ford is rolling out steep discounts, including employee pricing for all, and a free home charger for EV buyers.

The new campaign promotes Ford’s “American-made” vehicles with some pretty sweet deals. Ford is offering employee pricing on most 2024 and 2025 model vehicles.

All Ford and Lincoln models except the F-150 Raptors, 2025 Super Duty pickups, and Expedition are included. The Lincoln Navigator and Ford’s fleet vehicles are also excluded.

Ford is also extending its “Power Promise” promo, which offers EV shoppers a free Level 2 home charger (plus standard installation), 24/7 live electric vehicle support, roadside assistance, and an 8-year, 100,000-battery warranty.

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The program was initially launched in October, but Ford extended it through the end of March after seeing an uptick in EV sales.

Ford’s Power Promise now runs through June 30 and is available for any new EV purchase or lease, including the Mustang Mach-E and F-150 Lightning pickup.

Ford-discounts
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)

According to Rob Kaffl, Ford’s director of US sales, the company is able to offer steep discounts because it has the inventory. Kaffl told The Detroit Free Press, “We’re in a very competitive position in our stock.”

With “a lot of uncertainty in the market right now” amid Trump’s new tariffs taking effect, Kaffl said Ford’s new “From America, For America” will provide some security.

Ford-Mach-E-top-selling-EV
2025 Ford Mustang Mach-E (Source: Ford)

How significant are the discounts? Well, it will depend on the vehicle’s cost. A Ford dealer (who asked to remain anonymous) said an F-150 XLT hybrid with an MSARP of $65,000 would cost $55,000 under the employee pricing plan. The price of an Escape ST SUV, with an MSRP of $36,300, would be cut to $33,000.

2025-Ford-F-150-Lightning-interior
2025-Ford-F-150-Lightning

Ford introduced the 2025 F-150 Lightning last week, with a new “Dark Elements” package and improved charging features. It still starts at $62,995.

The 2025 Ford Mustang Mach-E starts at $36,495 and is available in RWD (260-mile range) or eAWD (240-mile range). Upgrading to the extended battery will cost an extra $5,500 (eAWD only).

Electrek’s Take

The new promo comes after Ford reported on Tuesday that US sales fell by 1.3% in the first quarter. Despite limited inventory, the Mustang Mach-E is off to a record start in 2025, with over 11,600 units sold, outpacing the Chevy Equinox EV and Honda Prologue.

GM reported US sales growth of nearly 17% in the first three months of 2025. After EV sales doubled to 31,887, GM remained the number two seller of EVs in the US behind Tesla, topping Ford’s 22,550.

Although Ford has the largest manufacturing footprint in the US of any legacy automaker, CEO Jim Farley says it’s still not immune to the tariffs.

Ford imports about 21% of the vehicles it sells in the US. GM imports around 46%. Both are looking to get ahead of any potential impacts.

Ready to snag the savings on Ford’s electric vehicles while they are still here? You can use our links below to find deals on the Ford F-150 Lightning and Mustang Mach-E models in your area.

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Tesla’s only growing business was just kneecapped by Trump’s tariffs

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April 3, 2025

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Tesla's only growing business was just kneecapped by Trump's tariffs

Tesla Megapack project pillswood UK

Trump’s new tariffs on China have just kneecapped Tesla’s only growing business: energy storage, which uses battery cells from China.

Tesla released its delivery results for Q1 2025 yesterday, which were quite disastrous. At 336,000 electric vehicle deliveries, they were 40,000 units below the consensus and about 20,000 units below what even the most pessimistic analysts expected.

But there was one silver lining: Tesla reported having deployed 10 GWh of energy storage – a new record for a first quarter.

While Tesla’s electric vehicle business entered a downturn in 2024, which is now accelerating in 2025, Tesla’s energy business, which primarily consists of selling Megapacks and Powerwalls, has been consistently growing.

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The bulk of this growth can be attributed to Tesla’s production ramp at its Lathrop Megafactory, where it produces the Megapack, and in the launch and production ramp of the Powerwall 3 with LFP battery cells.

Tesla now uses LFP battery cells from China to build these energy storage systems in California and Nevada.

According to the latest information, President Trump’s new tariffs announced yesterday are resulting in 54% tariffs on importing Chinese battery cells into the US.

This will significantly increase the prices of Tesla’s Powerwall and Megapack products, which should reduce the market.

The Biden administration had already announced an increase to 25% tariffs on Chinese battery cells meant for energy storage, coming in 2026.

Tesla was already bracing for the new tariff, but the Trump administration has dramatically accelerated the timeline and increased the tariffs. The administration has confirmed that the tariffs are stacking up on top of each other, which would mean 54% for goods coming from China.

The company is believed to almost exclusively use LFP battery cells from China’s CATL in its stationary energy storage products.

With the upcoming changes in 2026, Tesla was likely preparing for the change. Last year, there were rumors that Tesla was looking to establish a LFP battery plant in the US in partnership with CATL, but the plans have yet to materialize.

Tesla has also recently started production at a new Megafactory in Shanghai to produce the Megapack. The battery systems coming out of that plant are expected to be shipped to markets outside of the US and should enable Tesla to stay competitive outside the US.

Although, as we previously reported, Tesla is starting to face intense competition from its own battery suppliers for these products, CATL and BYD, which have both recently unveiled products to compete with the Megapack.

Tesla has also recently announced plans to build a second Megafactory in the US to build more Megapacks, but it’s not clear how those plans are going to be affected by the new tariffs.

Electrek’s Take

Since last year, stationary energy storage has been Tesla’s only growing business unit, and I was already worried about it because of increased competition. BYD and CATL already have a hold on LFP cells going into the Megapack, and now they are making their own Megapack products with their own cells.

On the consumer side, we recently reported that Tesla’s brand issues also extend to the Powerwall.

Now, Tesla has to worry about tariffs significantly increasing the price of its Megapacks and Powerwalls in its biggest market: the US.

There’s a chance that Tesla has accumulated some inventory in anticipation of the tariffs, but unless they are removed, which is not impossible considering how volatile the administration has been about implementing its promised tariffs, it will result in massive Megapack and Powerwall price increases.

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