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Nascent electric boat racing series E1 recently completed its third Grand Prix of its inaugural season. As the nine initial teams, led by a mix of celebrities and professional athletes, compete around the globe en route to the championship in Hong Kong this fall, E1 has added another gorgeous location for a summer GP – Lake Como.

The UIM E1 World Championship is a young but exciting new electric racing boat series announced in 2022. Since then, co-founders Rodi Basso and Alejandro Agag have assembled an impressive roster of team owners, including Tom Brady, Rafael Nadal, Steve Aoki, Sergio Perez, and, most recently, Will Smith.

E1 kicked off its inaugural season in February with the Jeddah GP in Saudi Arabia, in which Team Brady took 1st place, followed by Team Rafa. Brady’s team would score a second win during the series’ Venice GP in May, leading in points heading into the Puerto Banús GP in Spain, which took place earlier this month.

Team Miami, led by Marc Anthony, took first and now leads in overall points as we approach GP #4, which will take place in Monaco next month. Today, E1 announced Lake Como as a new addition to the 2024 race calendar alongside some slight changes to the number of total GPs this year.

E1 Lake Como
Source: E1 Series

E1 will race on beautiful Lake Como this August

Per a release by E1 earlier today, it has added the Lake Como GP to the 2024 race calendar, scheduled for late August.

The race across the waters of gorgeous Northern Italy will depart from the world-renowned Grand Hotel Villa d’Este in a nine-team bout that hopes to promote electric motorsports and draw awareness to sustainability across the world’s precious marine-centric regions. Per E1 CEO and co-founder Rodi Basso:

A destination that’s synonymous with luxury and elegance, Lake Como and the iconic Villa d’Este are the perfect fit for E1. The Lake provides ideal racing conditions that will amplify the jeopardy and competitiveness that has quickly become a hallmark of the Championship. Together with Villa d’Este, we will work to deliver a memorable and world-class race weekend experience unlike any other.

Like all E1 events, the UIM Championship will work alongside local partners, like Hotel Villa d’Este, to protect blue habitats like Lake Como. The addition of the Lake Como GP is a welcomed one but alters the original 2024 race calendar announced by E1 last December.

The race on Lake Como will replace a previous GP scheduled in Rotterdam, Netherlands, this September. We also noticed E1 nixed a separate GP in Geneva, which was originally scheduled for this coming weekend. Here’s how the revised race schedule now looks:

  • Monaco – July 27-28
  • Lake Como – August 23-24
  • Hong Kong (Championship) – November 9-10

With only three Grand Prix remaining this season, the title as the first-ever UIM E1 World Champion is still up for grabs. We will be following this exciting new electric boat racing league throughout the rest of 2024 and are working on attending a race event to share the experience with you.

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Offshore driller Transocean plunges after offering shares at a discount

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Offshore driller Transocean plunges after offering shares at a discount

Transocean Barents, an oil platform passes through Canakkale Strait as vessel traffic suspended in both directions in Canakkale, Turkiye on November 12, 2024.

Enishan Keskin | Anadolu | Getty Images

Shares of Transocean plunged Thursday after the offshore driller announced the sale of a large number of shares at a discount.

Transocean is planning to sell 125 million shares at a price of $3.05, significantly lower than Wednesday’s close of $3.64. It is offering 25 million shares more than it originally planned.

The Swiss company’s stock was last down 14.8% premarket. The offering is expected to close on Friday.

Transocean expects to book about $381 million from the sale. It will use the proceeds to pay off debt.

(Correction: Updates with correct share offering price.)

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NYC’s new 15 MPH speed limit for e-bikes goes into effect next month, but cars still get a pass

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NYC’s new 15 MPH speed limit for e-bikes goes into effect next month, but cars still get a pass

New York City’s new 15 mph speed limit for electric bikes is officially set to take effect next month, in what city officials claim is a move to improve street safety. But not everyone is convinced the crackdown is targeting the real threat on the roads.

The new limit, approved earlier this year, applies to e-bikes, mopeds, and other micromobility vehicles operating in city bike lanes. Riders caught exceeding 15 mph could face warnings or citations, though the exact enforcement strategy remains murky. The NYPD says it will focus on “education first,” but given the city’s track record, that could just be the calm before the ticket storm.

The rule comes amid growing concerns from some residents and officials about rising speeds among e-bike riders, especially delivery workers who often rely on throttle-equipped bikes to meet tight deadlines. But while the new speed cap is aimed at micromobility vehicles, there’s a noticeable omission: cars, trucks, and SUVs, which continue to be allowed to travel at 25 mph – and in practice, often much faster – even though they pose exponentially more risk to vulnerable road users and are responsible for orders of magnitude more deaths each year.

It’s a move that raises eyebrows and has resulted in thousands of publicly-submitted comments that the New York Department of Transportation has seemingly ignored.

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After all, the majority of traffic fatalities in New York City don’t involve e-bikes. They involve cars. And while some e-bike riders certainly ride irresponsibly, the blanket limit nearly cuts in half the more widely accepted e-bike speed limits used around the US, and doesn’t even apply to pedal bikes, which can easily exceed such speeds despite nearly identical average weights when factoring in the vehicle and rider. Not to mention, it ignores the critical role that e-bikes play in reducing traffic congestion and emissions, especially in the delivery and commuting sectors.

So while New York is slowing down its most efficient and sustainable form of urban transport, it’s letting the real heavyweights keep their speed. If the goal is safety, then it’s fair to ask: why aren’t cars being asked to go 15 mph too?

Because once again, it seems the rules are written for the powerful – not the vulnerable.

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Tesla is now buying ads on Elon Musk’s X to get people to vote for his $1 trillion compensation

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Tesla is now buying ads on Elon Musk's X to get people to vote for his  trillion compensation

Tesla is now buying advertising on Elon Musk’s X (formerly Twitter) to get Tesla shareholders to vote for his CEO compensation package worth up to $1 trillion in stock options.

Tesla, under Elon Musk’s leadership, has famously been against advertising. The CEO is even on the record saying that he “hates advertising” and that “other companies spend money on advertising and manipulating public opinion, Tesla focuses on the product.”

However, that was before he acquired Twitter, now X, which relies heavily on advertising.

After that, he started to push Tesla to do some advertising, but the company quickly stopped or greatly reduced its advertising efforts.

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We reported that Tesla’s advertising effort picked back up last week, starting with a few Google ads to encourage Tesla shareholders to vote for Musk’s new unprecedented CEO compensation package worth up to $1 trillion.

The automaker is in a full-on marketing blitz to convince shareholders to vote for the package and to allow Tesla to issue more shares in exchange.

Now, Tesla is even buying social media ads to push shareholders to vote for Musk’s compensation package and they are even buying ads on Musk’s privately owned platform, X:

They are also buying ads on Instagram, Facebook, and Reddit.

As we previously reported, Tesla’s board has claimed that voting for the compensation package will determine the future of Tesla.

Musk went even further and linked his compensation package to the future of the world.

Earlier today, the CEO claimed that his compensation plan is not about money, but about control over Tesla:

It’s not about “compensation”, but about me having enough influence over Tesla to ensure safety if we build millions of robots. If I can just get kicked out in the future by activist shareholder advisory firms who don’t even own Tesla shares themselves, I’m not comfortable with that future.

The CEO previously threatened Tesla shareholders not to build AI products at Tesla, despite claiming they were critical to the company’s future, if he doesn’t get 25% control over the company.

Electrek’s Take

The CEO of a publicly traded company threatens shareholders to gain control over the company and uses company funds to purchase ads that benefit his privately held company, with the goal of persuading the shareholders of the publicly traded company to give him more money.

If that’s not late-stage capitalism, I don’t know what is.

Also, I know I won’t shock anyone here, but Elon is lying about this not being about money.

If he wants to increase his percentage of Tesla shares, he could do exactly what his friend Larry Ellison did with Oracle and do long-term buybacks. It would benefit everyone, but it’s not what he wants. He wants the shiny new stock options.

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