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I’ve been on the hunt for an electric mountain bike that would give me much of the performance of the fancier, high-priced models, yet without their major downside: that higher price. The Velotric Summit 1 rolled in at the perfect time, and while the bike itself isn’t perfect, it’s darn near exactly what I’d want from an eMTB that focuses on keeping prices down.

The bright orange e-bike is even more fun to ride than it is to look at. But you’ll want to watch too, so make sure you take a gander at my riding video below to come along with me. Then keep reading for even more, below!

Velotric Summit 1 Video Review

Velotric Summit 1 tech specs

  • Motor: 750W (1,300W peak-rated) rear hub motor with 90Nm of torque
  • Top speed: 28 mph (50 km/h)
  • Range: Claimed up to 70 miles (up to 112 km)
  • Battery: 48V 14.7Ah (705.6 Wh)
  • Weight: 62 lb (28 kg)
  • Load capacity: 440 lb (200 kg)
  • Frame: Triple-butted aluminum alloy
  • Tires: Kenda 27.5×2.6″ fat tires
  • Brakes: Dual-piston Shimano hydraulic disc brakes
  • Extras: Color display, 15 pedal assist levels, front and rear LED light with brake light, front suspension, kickstand, internally routed cables, removable battery, Apple FindMy, torque sensor, UL-compliant battery and e-bike system

What does this e-bike offer

First of all, since Velotric is known more as a street-focused brand, the Summit 1 retains a lot of what makes the brand’s other models great for cruising the roads. That means you still get features like built-in LED lighting, Apple FindMy location tracking, and the ability to add fenders/racks for city and utility riding.

But of course, the main purpose of Summit 1 is trail riding, and that’s where the bike feels most at home.

The 750W rear motor puts out a peak power figure of closer to 1,300 watts, which along with the 90 Nm of torque is where your true hill-climbing potential comes from. For those of you with flat terrain like me, that also translates into powerful off-the-line starts, so it’s not wasted on us coastal sea levelers.

The battery is rather average-sized at 700 Wh, but is easily removable for charging either on or off the bike. Since the bike weighs 68 lb, you also might want to take that battery out when you lift the bike, such as into the back of a truck.

And another note on the battery: it’s UL-compliant. In fact, the entire e-bike is UL-compliant also, giving riders added peace of mind.

When it comes to range, Velotric says you’ll get 60 miles (100 km) on throttle or 70 miles (112 km) on pedal assist.

That pedal assist range sounds about right, considering the 15 levels of pedal assist can provide either powerful or soft assist, and that lower power end of the spectrum is where your best range will come from.

But the 60-mile throttle range seems quite lofty unless you’re cruising around at leisurely speeds of 10-12 mph. And if you’re riding off-road nature trails, there’s a chance you will be. But suffice it to say that with 700Wh of capacity, the bike has roughly average battery capacity and will hang with or surpass just about any other eMTB in its class when it comes to range.

Torque sensor for the win!

On bikes that are designed to be pedaled frequently, such as electric mountain bikes, a torque sensor is a beautiful piece of equipment to have. As we’ve talked about before, the torque sensor basically makes the power delivery a lot more natural and intuitive by giving you more or less power based on how hard you pedal instead of how fast you pedal.

On a bike designed for cruising in the bike lane, the lack of a good torque sensor is less noticeable. But when you’re trying to climb up a steep mountain bike trail, having instantaneous power on tap is a great advantage to have.

I’m also glad to see the bike is well-made, including using a strong through-axle for the front wheel and frame welds that look solid.

The bike is tested to exceed standard ISO tests used for electric mountain bikes, which is how the company can claim that higher weight capacity for a type of bike that is expected to live a rough life handling tough trails and bumpy rides.

The battery is even IPX7-rated, which means it can be submerged in water. I tested that very claim by tossing a Velotric battery in a tub of water, and lo and behold, it worked just fine when I took it out. So if the storm clouds move in during your ride, you may have to worry about traction, but you won’t have to worry about the safety of your battery.

And if I’m being a bit superficial, I’m also glad to see the nice, vibrant color options there are. Obviously that’s not a key performance differentiator, but since many people like to choose a bike color that matches their personality, having bright oranges and blues in addition to the more muted grayscale is nice to see.

What are the downsides?

Look, the bike rides great. The 120mm hydraulic suspension fork does a great job on the bumps and the bike is comfortable to flick around a trail. But no bike is perfect, and it’s fair to say that Velotric had to cut some corners compared to the fancier “true eMTBs” you’ll see in the bike shops.

For one, there’s no mid-drive motor, which the more lycra-minded riders often tout as the pinnacle of eMTB drives. Yes, mid-drives give great balance and usually mean a fancy German motor, but they also come with fancy German prices. So you’re giving up that mid-drive in favor of a rear-heavy hub motor, but saving a lot of green!

Next, the 8-speed derailleur is a simple Shimano Altus. It’s not bad, but it’s not a great piece of kit, either. It’s fine for recreational riders, but it won’t take the same beating or have the same lower maintenance as higher-end derailleurs.

And those tires? They’re Kendas, not something fancier like Maxxis. But here again, it feels fine for normies like me. I was hitting sandy singletrack without any traction issues, and I haven’t gotten a single flat… yet.

So sure, there are some modest parts mixed in here to help keep the price down to just $1,999, compared to the higher dollar eMTBs out there. But I think the right compromises were made in the right places, saving areas like safety and build quality as the main points where Velotric invested more heavily.

Sum it up for me!

The Velotric Summit 1 is a great riding e-bike that can handle mountain bike trails the way they’re meant to be ridden, but doesn’t carry the same $4-6k price tag of many more pro-level electric mountain bikes. At just $1,999, it’s a lot easier for a casual rider to justify.

I’ve had a blast riding trails on it the way I’d use a fancier hard-tail electric mountain bike. Sure, a mid-drive motor and higher-end transmission would upgrade the bike, but I’m happy to make those sacrifices in favor of more recreational-focused components that get the same job done at a fraction of the price.

With the build quality and safety that’s been engineered into the bike, I’m giving this one a solid recommendation for newer riders and enthusiasts alike. Just don’t think you’ll catch big air on the massive jumps you see $8,000 full suspension eMTBs handling.

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Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

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Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, U.S., March 25, 2021.

Handout | Via Reuters

Block jumped more than 5% on Monday, leading a rally in shares of fintech companies as analysts downplayed the threat of JPMorgan Chase’s reported plan to charge data aggregators for access to customer financial information.

The recovery followed steep declines on Friday, after Bloomberg reported that JPMorgan had circulated pricing sheets outlining potential fees for aggregators like Plaid and Yodlee, which connect fintech platforms to users’ bank data.

In a note to clients on Monday, Evercore ISI analysts said the potential new expenses were “far from a ‘business model-breaking’ cost increase.”

In addition to Block’s rise, PayPal climbed 3.5% on Monday after sliding Friday. Robinhood and Shift4 recorded modest gains.

Broader market momentum helped fuel some of the rebound. The Nasdaq closed at a record, and crypto rallied, with bitcoin climbing past $123,000. Ether, solana, and other altcoins also gained.

JPMorgan announces plans to charge for access to customer bank data

Evercore ISI’s analysts said that even if JPMorgan’s changes were implemented, the most immediate effect would be a slight bump in the cost of one-time account setups — perhaps 50 to 60 cents.

Morgan Stanley echoed that view, writing that any impact would be “negligible,” especially for large fintechs that rely more on debit, credit, or stored balances than bank account pulls for transactions.

PayPal doesn’t anticipate much short-term impact, according to a person with knowledge of the issue. The person, who asked not to be named in order to speak about private financial matters, noted that PayPal relies on aggregators primarily for account verification and already has long-term pricing contracts in place.

While smaller fintechs that depend heavily on automated clearing house (ACH) rails or Open Banking frameworks for onboarding and compliance may face real pressure if the fees take effect, analysts said the larger platforms are largely insulated.

WATCH: Congress moves to redraw $3.7 trillion crypto market rules, opening door to Wall Street

Congress moves to redraw $3.7 trillion crypto market rules, opening door to Wall Street

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EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

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EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

The global EV market is still charging ahead. According to new numbers from global research firm Rho Motion, 9.1 million EVs were sold worldwide in the first half of 2025, up 28% compared to the same period last year. But not every region is accelerating at the same pace.

China and Europe are doing the heavy lifting

More than half of the world’s EVs this year have been bought in China. That market hit 5.5 million sales in the first six months of 2025 – a 32% jump year-over-year. Around half of new cars bought in China are now electric.

While some Chinese cities’ subsidies have dried up, Rho Motion expects momentum to pick back up later in the year as more funding is released.

In Europe, 2 million EVs were sold in the first half of the year, up 26%. Battery electric vehicle (BEV) sales also rose 26%, thanks in part to affordable models like the Renault 4 (pictured) and 5 entering the market. Plug-in hybrids (PHEVs) weren’t far behind, growing 27% year-to-date. Chinese automakers are leaning into PHEVs as a way to work around the EU’s new tariffs on BEVs.

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Spain is leading the pack with EV sales soaring 85% so far this year. Its generous MOVES III incentive program was extended in April and has kept sales strong. The UK and Germany are also seeing solid growth – 32% and 40%, respectively. France, however, is slumping. With subsidies cut, EV sales there have dropped 13%.

North America is stuck in the slow lane

Things aren’t looking quite as bright in North America. EV sales in the US, Canada, and Mexico are up just 3% so far this year.

Mexico is the one bright spot, with a 20% boost. The US is up 6%. But Canada is down a whopping 23%.

And things could get bumpier. On July 4, Trump signed Congress’s big bill into law, which axes all the Inflation Reduction Act EV tax credits. Those consumer credits for EVs now officially end on September 30.

Just over half of the EVs sold in the US this year qualified for those credits. Rho Motion predicts a rush in Q3 before the subsidies disappear – and a decline in sales after that.

Rho Motion data manager Charles Lester said, “With Trump’s latest cuts in his ‘Big Beautiful Bill,’ the US could struggle to see any growth in the EV market overall in 2025.”

Global EV sales snapshot, H1 2025 vs H1 2024

  • Global: 9.1 million (+28%)
  • China: 5.5 million (+32%)
  • Europe: 2.0 million (+26%)
  • North America: 0.9 million (+3%)
  • Rest of world: 0.7 million (+40%)

Read more: China breaks records as global EV sales hit 7.2 million in 2025


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The Lucid Air is crushing the competition as the best-selling luxury EV sedan in the US

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The Lucid Air is crushing the competition as the best-selling luxury EV sedan in the US

Lucid’s electric sedan can drive further, charge faster, and packs more advanced tech than most of the competition. That might explain why it’s leading the segment. The Lucid Air remained the best-selling luxury EV sedan in the US after widening its lead in the Q2.

The Lucid Air is America’s best-selling luxury EV sedan

The 2025 Lucid Air Pure arrived as the “World’s most efficient car” with an EPA-estimated range of 420 miles and a record 146 MPGe.

It just set a new Guinness World Record last week for the longest journey by an electric car after travelling 749 miles (1,205 km) on a single charge.

That record was set in the range-topping Lucid Air Grand Touring model, which is rated for up to 512 miles of EPA-estimated range. On the WLTP scale, it’s rated at 597 miles (960 km). Either way, it still crushed the estimates.

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According to second-quarter sales data, released by Kelley Blue Book on Monday, the Lucid Air is still America’s best-selling luxury EV.

Lucid sold 2,630 Air models in Q2, up 10% from the previous year. Through the first half of 2025, Lucid Air sales are up 17% with 5,094 units sold.

Lucid-Air-best-selling-luxury-EV-sedan
Lucid Air (Source: Lucid)

Tesla, on the other hand, only sold 1,435 Model Ss during the quarter, 71% fewer than it did in Q2 2024. Tesla Model S sales in the US are down 70% through the first half of the year at 2,715.

Although Porsche Taycan sales were up 32% with 1,064 models sold, the significantly upgraded 2025 model year was expected to see even more demand. Porsche has 2,083 Taycans in the US this year, up just 1% from 2024.

Lucid-best-selling-luxury-EV-sedan
Lucid Air Pure interior (Source: Lucid)

Other luxury EV sedans, such as the BMW i5 (1,434), i7 (820), and the Mercedes EQS (498), experienced steep double-digit sales declines year-over-year.

And it’s not just electric luxury sedans. The Lucid Air is currently outselling many gas-powered vehicles in its segment.

Lucid-Air-best-selling-luxury-EV-sedan
Lucid Air (left) and Gravity (right) Source: Lucid

Lucid’s first electric SUV, the Gravity, is also rolling out. Although only five were sold in the second quarter, Lucid is quickly scaling production. Lucid aims to produce 20,000 vehicles this year, more than double the roughly 9,000 it built in 2024.

Earlier today, Lucid’s interim CEO, Marc Winterhoff, confirmed during an interview with Bloomberg that the company expects higher Gravity output in the second half of the year.

The interview was at the grand opening of Panasonic’s new battery cell plant in De Soto, Kansas. Winterhoff said Lucid will start using new cells from the facility, but not until next year.

Lucid’s CEO stressed the importance of establishing a local supply chain, as policy changes under the Trump Administration are taking effect. Lucid and Panasonic are collaborating to localize EV materials, such as graphite. Last month, Lucid secured a multi-year supply agreement with Graphite One for US-sourced Graphite.

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