An early pioneer in the North American electric bicycle market, Juiced Bikes appears to be in collapse. According to many customers, the San Diego-based e-bike company has largely ghosted them and failed to respond to repeated customer service inquiries. At the same time, the company’s website is out of stock on all products and its assets appear headed for auction.
There’s no confirmation from the company, but several signs are pointing toward financial distress and a likely closure of the company.
Juiced Bikes is one of the oldest continuously operating e-bike brands in the country. I’m something of a dinosaur of the industry, and even when I got involved with e-bikes back in 2010, Juiced was already a major player (albeit known as Juiced Riders back then).
The company pioneered electric cargo and utility e-bikes in the US with its ODK model, launched a decade before the popular RadRunner. The brand then continued to evolve, becoming one of the first to offer higher-speed and higher-power models for adventurous riders.
But now the brand appears to be in deep enough financial distress to potentially lead to a closure of the company, and radio silence from the brand has only stoked the rumor mill.
Social media is full of customers complaining about a lack of communication from the company. Several have shared instances of their bikes being stuck in service limbo while the company has broken off communications about their repairs or return schedule for the bikes.
Others have shared instances of purchases that have gone unfulfilled for months.
“$2k out for a bike ordered in July, and which I canceled in September after getting continually fed a line about shipping delays,” explained one user on Reddit. “Filed a dispute with my bank but still waiting.”
Juiced Bikes’ website is still operating, yet all of the company’s many e-bike models are currently listed as out of stock.
I’ve reached out to several leaders at the company but have yet to receive an official comment on the brand’s status.
Despite a lack of clarity from the company, the latest development in Juiced’s potential financial collapse saga appears to have sealed the deal, so to speak. The company’s assets are now showing up on an auction house platform commonly used for companies that have gone out of business.
Everything from the company’s existing inventory of products and its tooling in China to its intellectual property rights appears to be listed for sale at auction. Even the company’s Sprinter cargo van with Juiced Bikes branding is up for sale.
The last few years have been a tough period for the electric bike industry. Following the massive wave of e-bike sales in the post-pandemic period, the market cooled significantly leaving many e-bike makers with huge overstock situations.
Venture capital funding also began drying up after the easy money period following the pandemic, further crunching many e-bike companies.
At the same time, dozens of new Chinese-based electric bike brands have opened their doors in an attempt to snag a piece of the massive e-bike pie, often dangling enticingly low prices that several of the US-based brands couldn’t compete with. Leaders in the US budget e-bike market, such as Lectric Ebikes, have further squeezed competitors with aggressive pricing that has helped scoop up massive market share.
We’ve already seen several other large e-bike companies go under in the last year, including SONDORS in the US and VanMoof in Europe. If Juiced Bikes is headed for the same ending, it is unlikely to be the last.
Electrek’s Take
While there’s still no official word from the company, at this point, it appears that Juiced Bikes’ closure is a foregone conclusion. With its assets up for auction, there doesn’t appear to be an endgame for the company as we know it.
This is truly a sad event for the industry and just another reminder that we’re in a reckoning period for the hundreds of e-bike companies all competing for the same customers. Every year there are more e-bikes on the road than ever before, yet the meteoric growth of the post-pandemic years obviously wasn’t sustainable. Just like the American automotive industry eventually pared down the hundred or so car companies in business a century ago, the e-bike market is likely headed in a similar direction.
This is also uniquely painful for Juiced’s customers who have been left waiting for bikes they ordered or hoping to receive service on the products they already own. Fortunately, someone at Juiced appears to have set the website’s inventory to zero to prevent phantom sales that would likely never be delivered, but that doesn’t help those already left out to dry.
If there’s any room for hope, it’s that this doesn’t necessarily mean there is no future for Juiced Bikes. The brand and its assets could still be purchased by an investor or company hoping to revive the e-bike brand. If so, this doesn’t have to be the last mile marker on Juiced’s 15-year-long ride.
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When X Shore first followed up its flagship Eelex 8000 electric boat with the smaller and more accessible X Shore 1, the move proved to be an effective path to bring electric boating to more people. Now the company is building upon that same platform with the new X Shore 1 Bowrider.
To be clear, electric boats are far from becoming an impulse purchase. Well, at least outside of the most extremely low-cost models.
But compared to the Eelex 8000’s price tag of US $300,000, the comparatively more affordable Bowrider 1 at US $139,000 is solidly in the “Yes, I’m a dentist, but I don’t own my own practice” territory.
The point is, these boats aren’t cheap but they’re certainly getting closer to the budget of the kind of folks with boat money. And while they might not have reached cost parity with typical combustion engine-powered day cruisers, there are a lot of other major advantages to vessels like the X Shore 1 Bowrider.
For example, one major update on the Bowrider 1 is the conversion of the boat’s bow into a spacious seating area offering more relaxed riding. For anyone trying to carry on a conversation on a boat, you’ll know that trying to shout over the loud outboard engines can really put a damper on the day. That’s not a concern with electric boats, which are much quieter and allow the sounds of the water on the hull to take center stage.
And with more lakes and waterways moving toward zero emissions regulations, à la Italy’s Lake Como and Amsterdam’s famous canals, electric boats like these are in more demand than ever. The 63 kWh on-board battery offering up to 50 nautical miles of range makes the boat great for those relaxing weekends on the lake, and the 30-knot top speed opens the door to fun excursions, especially in the world of watersports.
“Our mission is to make boating one with nature by advancing sustainable performance, seamless technology, and functional design,” said X Shore CEO René Hansen. “The Bowrider meets the growing demand for recreation, high performance, and sustainability, setting new standards in electric boating.”
The open transom provides easy access as a swim deck, while the rest of the adjustable deck space and open passage toward the bow let owners customize the type of social experience they’re looking for.
The 6.5 meter (21 ft) boat’s hull is constructed using advanced materials, including glass fiber and carbon fiber, at the company’s Swedish factory. The boat also features smart tech, including integrating Garmin’s advanced marine technology with a 19-inch display for precise, real- time data on navigation, depth, and temperature.
With featured compatibility between X Shore’s app and Garmin smartwatches, owners can even monitor and control their boat remotely.
Electrek’s Take
I love seeing new models like this, especially when they can use existing platforms like X Shore did with its popular X Shore 1, helping to reduce the length and cost of development cycles. It’s still a little rich for my blood, but I’m also the guy who bought a $1,000 five-seater electric boat from China, so I’m probably not the target market for X Shore.
But I do think the future is bright for electric boats. It’s obvious that the recreational electric boating market is experiencing increasing growth as more enthusiasts look for sustainable, quieter, and lower-maintenance alternatives to traditional gasoline-powered boats. The numbers certainly aren’t huge yet, but they’re growing.
Advances in battery technology, alongside ever-shifting environmental regulations and the flow of consumer preferences, have opened up new possibilities like these for electric propulsion on the water. As more manufacturers continue expanding their lineups to include electric pontoons, fishing boats, and even larger solar-powered vessels, electric boating is set to become a mainstream option, reshaping the future of recreational boating. How long it takes until it’s truly mainstream though, only time will tell.
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Tesla has issued a recall on over 2,000 Cybertrucks due to a problem with their inverters, which can cause a loss of power.
This time, it’s a real physical recall that requires replacing the inverter.
When there’s a recall on Tesla vehicles, it is often fixed through over-the-air software updates that don’t require physically recalling the vehicle. It often angers Tesla fans that they are still called “recalls”.
But this isn’t one of those.
Today, Tesla issued a new recall notice on the Cybertruck due to its drive inverter abruptly failing to produce torque at times:
On affected vehicles, a fault in the drive inverter may cause it to stop producing torque. If the inverter stops producing torque, the driver loses the ability to apply torque to the vehicle using the accelerator pedal resulting in a loss of propulsion, which may increase the risk of a collision.
Tesla says that it received a customer complaint and began investigating the issue on August 5th.
The automaker wrote in the recall notice:
From August 5, 2024, through October 23, 2024, Tesla investigated the condition and analyzed field data to characterize the condition and identify vehicles that could potentially be impacted.
In October, Tesla said that it finally identified a specific population of Cybertruck with a higher drive inverter failure rate due to a MOSFET (metal-oxide-semiconductor field-effect transistor) component, and a week later, it decided to issue a voluntary recall.
The automaker says that it has identified 5 warranty claims that could be related to this issue, but it is unaware of any related accident.
Tesla plans to start replacing the drive inverter in the affected vehicles next month:
Beginning on or shortly after December 9, 2024, at no charge to the customer, Tesla will replace the recalled drive inverter with a drive inverter equipped with a properly functioning MOSFET component.
Recalls have been one of our best ways to track Tesla’s Cybertruck production ramp, but unfortunately for our data, and fortunately for Cybertruck owners and Tesla, this specific recall affects only 2,431 Cybertrucks.
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CATL, the world’s largest battery manufacturer, is considering building a localized plant on US soil, but there’s a big “if.” The company’s chairman said he is open to erecting a US battery facility if President-elect Donald Trump paves the way, despite escalating a trade war with China during his first term.
Contemporary Amperex Technology Co., Limited, better known as CATL, has been the largest battery manufacturer in the world by global market share for most of the last decade. The company specializes in a portfolio of battery cells with different chemistries and energy storage solutions and remains on the pulse of emerging technologies such as solid-state.
The company has developed fast-charging LFP cells for OEMs like SAIC-GM and, in the past couple of years, has begun developing battery technology for zero-emission aviation, including electric planes and eVTOLs with companies like AutoFlight.
Having already outgrown operations in China alone, CATL had previously shared plans for six new facilities in other countries, including Germany, Thailand, Hungary, Indonesia, and two in the US (with Ford and Tesla). The latter two of that list are expected to operate under licensing deals.
This past May, CATL shared intentions to erect two additional battery plants – One in Spain through a joint venture with Stellantis and a fully-owned battery cathode materials facility in Morocco, to supply those vital components to its pending European plants mentioned above.
While CATL has had plenty of plans for entry into the US, it has faced opposition from Democrats and Republicans alike due to its government-subsidized operations. The Biden administration’s Inflation Reduction Act echoed such sentiments, and Trump himself waged an all-out trade war with China during his last run in the White House.
With Trump set to take office in 2025, CATL’s chairman expressed hope that the door to US manufacturing would be cracked open a little more, but it will take the full support of the President-elect to happen. That’s a tall order for a Chinese company with an impressive grip on the battery market.
CATL chairman open to Chinese investment in US supplies
Originally, when we wanted to invest in the US, the US government said no. For me, I’m really open-minded.
CATL’s imports are currently facing some trade protections to keep things fair for local automakers, hence why many current EV models don’t qualify for the full $7,500 federal tax credit, even if the cars are assembled in the US. Before Biden’s Inflation Reduction Act (IRA), President Trump targeted several Chinese OEMs like CATL due to their government subsidies while citing national security concerns.
However, the President-elect appears open to companies like CATL bringing battery production to the US under certain conditions. Per an interview with Reuters this past August:
We’re going to give incentives, and if China and other countries want to come here and sell the cars, they’re going to build plants here, and they’re going to hire our workers.
That may sound like a refreshing idea from the ever-polarizing Trump. Still, he’s merely echoing the policies already laid out by his predecessor in the IRA – a measure already enacted to bring more production and jobs to US workers. The Trump campaign did not immediately respond to a request for comment.
This will be a story to watch as the torch is passed in the White House. Trump’s re-election has created more questions than answers about the future of EV production in the US, but it’s hard to imagine local OEMs finding as much success without a behemoth like CATL nearby.
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