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Arc has built the first models of its much-anticipated Arc Sport 500hp electric wake boat, and we got a chance to take it for a quick demo in Long Beach, CA and holy heck, this thing rips.

Arc is a very new company – it was founded in 2021 in Los Angeles, and is targeting the luxury boat market with high-powered electric boats. Its cofounders, Mitch Lee and Ryan Cook, are engineers who met while working at Boeing.

The company has since grown to over 100 employees, and the company boasts that many are former SpaceX, Tesla, and Rivian workers (like, well, every other electric startup).

But it seems to have something to it, because Arc has been able to raise over $100 million in funding so far – not a bad chunk of change to get things started.

The Arc Sport, announced in February, is not Arc’s first boat. It previously released the Arc One, a limited-edition, $300,000 speedboat, of which only 20 units were made.

But the Sport is a wake boat, a more specialized type of boat, and it’s a downright steal compared to that model, starting at the low-low price of $258,000. Pocket change, really (although, an early tricked-out “Founder’s Fleet” model with all the options and extras included will cost $322k).

This is by no means cheap, but is relatively competitive with the higher-end wake boats from companies like Nautique or Malibu (Nautique has its own electric wake boat, which starts at $312k).

Wake boats have been growing in popularity lately, both for standard boating activities and for wakeboarding/wakesurfing. Wake boats need high power along with specialized control surfaces and ballast control to help make a large, surfable wake behind the boat.

They also include a tower to attach a tow rope to, so wakeboarders can get up onto the board. The Arc Sport has an adjustable tower which raises and lowers, to offer a higher angle to help pull riders up out of the water, or lower clearance in case that’s needed for navigating around a marina.

Electric drive has a lot of benefits for this application – many of which are familiar from the world of automotive. For one, when wakeboarding behind the Arc Sport, you aren’t constantly choking down fumes and getting loopy from exhaust mere feet from your face in an otherwise beautiful natural lake environment. Which is quite a plus.

The weight penalty of the Sport’s massive 226kWh battery isn’t that significant, either. Wake boats typically benefit from having a lot of mass at the stern of the boat – and will intentionally take on water as ballast to ensure that the rear is as low as possible in order to throw a larger wave. So a chunky battery, sited low in the stern, is fit-to-purpose anyway.

And, like in electric cars, an electric motor has high torque at zero rpm, which means it has… A LOT OF GET-UP-AND-GO.

Arc used a low (2,000) rpm semi truck motor with direct drive (no gearbox) to reduce noise and friction and ensure high torque, which means we literally fell right out of our damn seat the first time they punched it. Arc says it has twice the torque of competing boats, and it sure felt like that.

An electric motor is also easier to put where you want it, so there doesn’t need to be a big, loud, hot, vibrating mass in the middle of the boat (where engines often go), making it easier to use that space for socializing or moving around inside the boat. The motor in this case is pretty centrally located, under the floor of the boat.

The boat is quite quiet at low speeds and some light vibration can be felt through the floor, but it’s a lot less than you’d get from a fossil machine. Though between the noise of splashing water, buffeting wind and 500 horsepower, things get a bit noisier when getting up to the electronically-limited top speed of 40 knots.

I’ve spent a fair amount of time around boats myself, growing up alongside a harbor and in a boating family. Not much of that time has been spent piloting anything impressive, but I’ve been at the helm of a few boats here and there. As for electric boats, all I had piloted before now were Duffys and the like – low-speed cruisers, nothing like this.

After getting a quick demo ride from Arc, it was time for me to grab the helm and go for a spin. I did a few figure-8s, making wake for myself to cut through, and felt that extreme acceleration on my own (which was… easier to stay seated during when I was actually prepared for it).

And once I started, I really didn’t want to stop (but then again, that’s often the case for a day of boating, isn’t it?). The boat handled great in the flat water we had it in – and the choppier water once I laid down some wake to blast through.

The captain’s seat was a little tight on legroom, but this is adjustable and Arc is looking to increase the amount of adjustability on the production version. And the throttle was pretty twitchy, which is bound to happen with so much power, but Arc was thinking about smoothing out the mapping of the throttle lever, which I think would be a good idea. Luckily, Arc has complete control over the boat’s software, so tweaks like this are possible and there could even be user-selectable drive modes.

This is another way that Arc distinguishes itself: through a sleek modern interface updatable over-the-air. Some boats have the ability to update maps over the air, but Arc says it’s the first to be able to provide Tesla-like updates to software that’s deeply integrated into the boat.

The UI we saw wasn’t finalized, but what we saw worked well and had various aspects of customizability, like simple controls to adjust the wake, and the pitch of the boat in the water, or to look through one of the boat’s three cameras. One neat aspect was a small red bar on the pilot’s display showing when your steering is centered, which is something that’s easy to lose track of in a boat.

We didn’t get to test out any connectivity/app features, but remote management of charging, checking the cameras on the boat, and so on, seem like natural features that will come down the pipe.

As for the practical parts, the Arc sport is 23 feet long with comfortable seating for 15 (though make sure you’re holding onto something when the pilot punches it), lots of cupholders (Arc told us the final version might even have more), good room for storage under the seats and rear deck (another benefit of electric drive, more storage space where the motor would go), and board storage on top of the adjustable tower.

It also has a set of side thrusters on the bow and stern which help with precision maneuvering, which can be a great help while docking, particularly for less-experienced pilots.

And maintenance should be easier too. Boats are famously a nuisance to keep in good running order, given that they sit parked in a corrosive substance full of strange plants and animals for literally all of their lives. That’s no different here, but at least you won’t have to worry about fuel going bad or winterizing the boat.

Most docks have 240V service for shore power, and Arc’s boats can just stay plugged in (while 7-10kW service means 20-30 hours for a “full charge” of the 226kWh battery, it’s rare that you’ll have a boat out more than ~4 hours in a day anyway). And it’s a lot cheaper to fuel than paying marina rates for gasoline. The Sport is also capable of 225kW CCS DC charging, for the few marinas that have installed DC fast chargers (there’s one in Tahoe).

That brings us to the “range” question, which is a different set of calculus for boats. Arc says the massive battery is good for 4-5 hours of use, though that depends highly on what you’re doing. If you’re just cruising around at low speed, that time will be extended tremendously. If you’re doing constant start-stops or running at high speeds, you’ll use a lot more energy (water is thicker than air after all – there’s a much bigger speed penalty to efficiency on water).

Arc said it took the boat out to Catalina Island, which is 26 miles across the sea from the California coastline. On the way out, they kept it conservative, and used about 10% of the battery. Then they camped overnight and bombed back to the mainland the next day at high speed, and ended up with about 35% left by the time they got back. So that higher-speed trip used ~5x as much energy as the low-speed one did (there may have been differences in wind/waves as well). And 50+ miles on the ocean, with range to spare, is quite a day or two of boating.

But for the most part, these machines will be used on lakes or in calm waters anyway, so it should be more than enough for a great day out.

And in a nice lake environment, the underlying benefit of an electric boat becomes exceptionally clear. These are sensitive and contained environments, so adding anything foreign to them can really screw up the ecosystem. The less nonsense we can bring into lakes, in the form of fumes and oil and what-have-you, the better.

The quiet and lack of exhaust really enhance the experience of boating, but unfortunately Arc doesn’t have a solution to one problem: everyone else. While boating around we still occasionally had to smell the stench from some passing boat, and the water surface near the docks was still oily due to the activity of other boats.

And that’s going to end up changing – some marinas and lakes are already giving out separate electric-boat registrations, and charging significant extra money for launching gas-powered boats due to the environmental damage they cause, which electric boats don’t have to pay. Local pushes to clean up lakes are quite strong – the preponderance of “Keep Tahoe Blue” bumper stickers throughout California suggest that as more options become available, restrictions on dirtier options may well increase.

So lets keep our eye on the prize here – not only is the Arc Sport a pricey-yet-capable toy, it’s also the vanguard of an industry that’s about to change for the better. Our whole Earth is heating up and getting dirtier with every gallon of dino-juice we bleed from this precious planet of ours, so why not keep some of it deep underground where it belongs instead of on the surface of our lakes and marinas.

Arc is kicking off its nationwide demo tour today, which you can sign up for here. They’re still not the full production boats, but they’re close. Arc has started taking orders (you can reserve one for $500) and plans to deliver boats “this year” (with the Founder’s Fleet all being delivered by next summer), with an eventual goal of producing “hundreds” per year.

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Robinhood is up 160% this year, but several obstacles are ahead

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Robinhood is up 160% this year, but several obstacles are ahead

Florida AG opens probe into Robinhood. Here's the latest

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 CEO Vlad Tenev explains 'dual purpose' behind trading platform's new crypto offerings

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.

JPMorgan announces plans to charge for access to customer bank data

“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.

WATCH: Watch CNBC’s full interview with Robinhood CEO Vlad Tenev

Watch CNBC's full interview with Robinhood CEO Vlad Tenev

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Hyundai and Kia are betting on lower-priced EVs to ride out tariffs

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Hyundai and Kia are betting on lower-priced EVs to ride out tariffs

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.

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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-Kia-lower-priced-EVs
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.

Hyundai-Kia-lower-priced-EVs
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.

Hyundai-Kia-lower-priced-EVs
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).

Hyundai-Kia-lower-priced-EVs
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.”

Hyundai-Kia-lower-priced-EVs
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.

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Blink Charging just threw a lifeline to EVBox Everon customers

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Blink Charging just threw a lifeline to EVBox Everon customers

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.”

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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.


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