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Foil wings are changing the way that watercraft operate. Foils are now exploding in water transport, from surfing to boating and everything in between.

Foils aren’t necessarily a new technology. I remember taking a Hydrofoil passenger ferry from Hong Kong to Macau every few weeks when I lived in Asia in the late 90s. By knifing through the water rather than riding on top of it, the foils are much faster, more efficient and also, as a byproduct, are much smoother (no seasickness!).

How does that translate to the latest eFoil surf technology from Lift foil surfboards? The company flew me out to their Puerto Rican HQ, factory, and testing grounds to find out…

As a background, Lift is a Puerto Rican-based maker of foil surfboards and electric foil (eFoil) surfboards. From my snowboarding background, they are kind of like Burton was in the 90’s. The company is pushing the industry forward, not just for recreational ease and innovation but also at the professional sporting level.

The Lift5 board is a huge step in the development of eFoil boards, making setup and riding an extremely quick operation. Instead of a complicated mess of wiring hookups and assembly, the Lift5 2.2kW battery (smaller, less expensive batteries will be offered) just snaps in. It is the same with the mast and the electric foil wing, a few quick snaps and the board is together.

That brings the setup time down quite a bit to just a few minutes tops and makes assembly of the surfboard near the water so much easier.

That’s something else to consider. These electric surfboards can take the place of the much bigger, noisier, petroleum-powered jet skis for many uses. At a 30mph top speed, these can be used for around an hour and can fit in the trunk of a car rather than a trailer, which needs a boat dock. It’s a true game-changer in the world of personal water transportation.

Blowfish Accessory

Then consider the specialized inflatable “Blowfish” accessory (above) that not only makes training on a Lift eFoil easier but also opens up the platform for specialized activities like fishing, diving, and multiple-passenger travel. What’s great is that once you are on the Foil, the inflatable ring is out of the water and only affects the efficiency of travel slightly. Otherwise, it can operate like a little dingy boat and can be used to bring people back and forth from shore to bigger boats docked out at sea. Versatility is key here.

LIFT5

The LIFT5 represents a complete reimagining of eFoil technology, built from the ground up to enhance performance, user experience, and reliability. With a focus on surf-inspired innovation, the LIFT5 introduces:

  • All-New Design: A lighter, streamlined board featuring a double concave bottom for smooth touchdowns and sharper chine rails for crisp transitions.
  • Simplified Setup: Tool-free assembly with Lift Connect System (LCS) for effortless attachment of wings, mast, and propulsion.
  • Enhanced User Experience: Wireless connectivity, one-touch startup, and redesigned accessories like ergonomic board bags and a battery backpack.
  • Unmatched Safety: A robust double-walled battery with real-time monitoring, tilt detection, and water ingress prevention for maximum reliability.

“The LIFT5 is not just a progression, it’s a revolution,” said Nick Leason, Co-founder and CEO of Lift Foils. “We have taken everything we’ve learned over years of engineering, testing, and riding, and built the most refined eFoil yet. The LIFT5 is not only the quietest eFoil available, but it’s the first of its kind to come standard with a click-in battery, toolless and wireless assembly, and touch-free, integrated in-line cooling – an evolution of the liquid cooling technology we first introduced with the world’s first commercially available eFoil.”

LIFTX

There’s one more thing in this announcement, and with a nod to Apple’s naming, Lift also introduced the LiftX, which is a lighter, more professional sports board with a key retractable propeller technology that allows the rider to go from electric propulsion to wave/wind/pumping propulsion seamlessly. It is a true hybrid board.

The Lift foil surfboard experience (LiftX and Lift5)

As a background, I’ve never hydrofoiled in my life outside of the aforementioned boats. I have done some very basic surfing and skateboarding and am an avid snowboarder.

Lift first let us try out the Lift4 foil boards on a river with very little waves. Initially, they were outfitted with the blowfish attachment, which made the learning process more fun. Getting up on the board was super easy for my 50-year-old body, and I was standing on the Lift4 within minutes. From there, I experiemented with the speed controls that go from 0-15. At about 6 or 7, my 200lb body would start to lift the board out of the water and foil.

That experience is incredible. The bumping of the waves and the sound disappear almost entirely. You are floating above the water magically.

Interestingly, because the foil is so much more efficient, once you get out of the water, you not only speed up considerably, but you also require a lot less power to go the same speed. I was told that foiling takes half the energy of just cruising like a traditional board (and that is why you can ride on foils for so much longer than an electric surfboard or boat).

Foiling did take some getting used to but I did get up and stay up for quite some time on the river.

The next day we went onto the ocean using the new Lift5 boards and without the Blowfish. There was a steeper learning curve to get used to the changing dynamics. That said, I was able to get foiling within an hour of jumping on the Lift5. The challenge for me wasn’t turning necessarily but keeping the board flat in the water. Too much forward-leaning, and you’d push the front into the water. Leaning back too much and the foil pops out of the water in front of you. A little time is all one needs to figure out these dynamics.

I never got 100% stable in the 2 hours of training but I was so close. I will say this: I really wanted to play on these more and more as time ended. The foiling experience compared to riding on the waves is singular and I would say akin to the experience when sailing when you turn off the motors and just begin using the wind power. Magical.

Electrek’s take

What an experience! Lift’s whole vibe of being a proud Puerto Rican company building and developing its industry-leading products on the island just feels so right. The fact that the company is pushing this nascent industry forward is huge.

Sure, there are some drawbacks to foiling. The big price points – these new products are expected to retail for north of $12,000 – but also safety is a big concern. At 30mph top speed, these things are knifing through the water and could be dangerous to snorkelers or other swimmers in the area. Wildlife could also be impacted.

That said, Lift5 and LiftX represent huge innovations in the eFoil industry and coupled with accessories like Blowfish and leading edge controllers, snap-together assembly, and long-range integrated batteries, will make this the next big leap in the eFoil surfboard industry.

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Trump meme coin dinner likely to include mostly non-Americans based on top $TRUMP holders

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Trump meme coin dinner likely to include mostly non-Americans based on top $TRUMP holders

Jonathan Raa | Nurphoto | Getty Images

With President Donald Trump’s private dinner for top meme coin holders less than a week away, the leaderboard is awash with crypto wallets that are effectively anonymous.

On May 22, the top 220 $TRUMP holders are invited to a dinner with the president at his Virginia golf club outside of Washington, D.C. The event was announced last month, and the tally closed Monday night.

The nature of the pseudonymous wallets raises questions about the true identities and motivations of the token’s largest holders, who have bought a seat at the table with a U.S. president.

Documents from blockchain analytics firm Inca Digital that were reviewed by CNBC show where the top 275 $TRUMP token holders send and receive the token. Many are heavily tied to international exchanges like Binance that don’t service U.S. customers, an indication that they’re likely not U.S. citizens.

An analysis by Bloomberg revealed that 19 of the top 25 wallets are almost certainly owned by individuals operating outside the U.S.

Justin Sun, who openly shared that he bought $75 million worth of the Trump family’s World Liberty Financial token — a digital coin where 75% of proceeds go to Trump-related entities — is believed to be at the top of the $TRUMP meme token leaderboard.

Sun, who was born in China, is the crypto entrepreneur behind the Tron blockchain and is in talks with the SEC to resolve civil fraud charges.

A wallet called Sun currently holds more than $18 million worth of $TRUMP, with $4.5 million bought after the dinner contest announcement, according to Bloomberg.

Multiple reports point to the wallet being tied to the Tron founder. A representative for Sun didn’t respond to CNBC’s request for comment or confirm whether Sun is the wallet owner.

MemeCore, a Singapore-based crypto network that was vocal in its quest to secure a spot at the Trump dinner, landed in second place with an investment of $18 million. An Australian crypto entrepreneur also reportedly made the cut.

The leaderboard points to the token’s extreme volatility.

Inca Digital told CNBC that while 560,376 wallets have made a combined $5.2 billion in realized gains on the $TRUMP token, an even larger number — 592,962 wallets — have collectively lost $3.9 billion.

The figures underscore the massive wealth transfer within Trump’s crypto ecosystem, where early buyers have seen windfalls while the majority have suffered losses.

Chainalysis and Elliptic, two leading blockchain analytics firms, initially tracked $TRUMP token movements and trading fees. But days after CNBC published a story on the number of crypto wallets that had lost money on the meme coin, the firms said they were too busy with existing clients to continue blockchain analysis of the president’s self-branded meme token.

Eric Trump on taking American Bitcoin public and the family’s growing crypto empire

Sen. Richard Blumenthal, D-Conn., the ranking member of the Senate Subcommittee on Investigations, warned that the Trump family’s growing crypto holdings may serve as a backdoor for foreign and corporate interests seeking access to the president.

Freight Technologies, a Houston-based logistics firm that trades on the Nasdaq and has a market cap of just over $2.3 million, bought $2 million worth of the $TRUMP tokens to influence U.S.-Mexico trade policy, according to a release. CEO Javier Selgas described the move as a strategic push to “champion fair and free trade” across the U.S.-Mexico border.

Freight Technologies finished in 250th place, missing the cut for the dinner.

Read more about tech and crypto from CNBC Pro

Eric Trump on family's expanding crypto ambitions

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Tesla pulls all the demand levers with discounts and incentives as sales crash

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Tesla pulls all the demand levers with discounts and incentives as sales crash

Tesla is now pulling on all the demand levers in the US with new discounts and incentives as sales are crashing due to brand damage.

Over the last few days, Tesla has introduced a series of new discounts and incentives in the US.

Previously, Tesla had a program to offer a $1,000 discount for US military personnel, but the automaker has now extended it to “students, teachers, first-responders, military veterans, retirees, active-duty members, their spouses, and surviving spouses.”

The update incentive applies to Tesla’s entire lineup of new vehicles.

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Tesla also introduced a new incentive for Lyft drivers. They are eligible to $1,000 in Tesla credits when taking delivery and $1,000 from Lyft if they complete 100 deliveries by July 13.

The automaker wrote on its website:

Eligible Lyft drivers who purchase a new Tesla vehicle can receive $1,0001 in Tesla Credits upon taking delivery and a $1,000 incentive from Lyft after completing 100 trips on or before July 13, 2025. Tesla Credits can be used toward Supercharging, a new Tesla vehicle, service appointments or select Tesla Shop or upgrade purchases. Offer available to active Lyft drivers in good standing.

Tesla also started reaching out to Cybertruck reservation holders to let them know that they only have a month before they can’t take advantage of lower FSD prices.

The automaker wrote in the email:

As an early reservation holder, you have access to a reserved Full Self-Driving (Supervised) price of $7,000. To keep this price, you’ll need to take delivery by June 15, 2025. After June 15, 2025, FSD (Supervised) will be available at the latest price, which is currently $8,000.

When Tesla started taking Cybertruck reservations in 2019, Tesla said that by reserving the truck, reservation holders were locking in the then $7,000 price for its ‘Full Self-Driving’ package.

It looks like Tesla is now putting a deadline to take advantage of this deal to boost orders of the Cybertruck, which has proven to be a commercial flop.

On top of all these incentives, Tesla is also subsidizing interest rates to offer 0% financing on Model 3, and 1.99% financing on Model Y.

All those incentives in place point to Tesla having significant demand issues in the US.

Tesla’s global sales came about 50,000 units below expectations, which the company blamed on the production changeover of Model Y, its most popular model by far.

However, production is now back up to normal in Q2, and Tesla is clearly having issues selling the updated Model Y.

The automaker has no backlog of orders for the new Model Y and vehicles are already piling up in inventory:

We reported last week that Tesla employees wrote an open letter calling for Elon Musk’s removal as CEO due to the damage he has caused to the brand.

In the letter, the employees confirmed Tesla’s demand issues, saying that thousands of new Model Ys are now sitting unsold on lots in the US.

Electrek’s Take

This is not a great sign for Tesla. These are end-of-quarter level incentives when we are just about halfway through the quarter.

And that’s just in the US, where Tesla’s sale performance is more opaque.

In Europe and China, where we know for a fact that Tesla is struggling with sales, the automaker is virtually offering 0% financing on its entire lineup.

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Game changer: Harbinger launches a medium-duty EREV with 500 mile range

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Game changer: Harbinger launches a medium-duty EREV with 500 mile range

The electric box van experts at Harbinger announced a new, EREV version of their medium-duty van that pairs a big battery with a small, gas-powered ICE engine to offer fleets that are hesitant to electrify a massive 500 miles of autonomy on a single charge + tank.

The American truck brand is putting its latest $100 million raise to good use, developing a cost-competitive EREV chassis that marries a low-emissions 1.4L inline four-cylinder gas engine with a close coupled 800V generator sending power to a 140 or 175 kW battery for up to 500 miles of fully loaded range. More than enough, in other words, to meet the needs of just about any fleet you can think of.

That’s a good thing, too, because medium-duty trucks are put to work in just about any circumstance you can think of, as well – a fact that’s not lost on Harbinger.

“Medium-duty vehicles serve an incredibly diverse range of applications, just like the fleets and operators that rely on them, ” explains John Harris, Co-founder and CEO, Harbinger. “There are some fleets whose needs simply can’t be met with a purely electric vehicle—and we recognize that. Our hybrid is designed for use cases and routes that go beyond what an all-electric system typically supports. The series hybrid delivers the benefits of an electric drivetrain, along with the added confidence of a range extender when needed.”

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In addition an up-front cost that should make it an attractive prospect for fleet buyers, the new Harbinger EREV pack performance that should made it attractive for its drivers, too. The new chassis’ electric powertrain delivers 440 hp and 1,140 lb-ft of tq for quick acceleration into traffic and smooth running, even under load. Charging performance is also quick, with the ability to get the big battery from 10-80% charge in just under an hour on a 150 kW port.

You’ve heard all this before


THOR Industries and Harbinger Collaborate to Deliver the World's First Hybrid Class A Motorhome
Thor hybrid RV concept; via Thor.

If that sounds familiar, that’s because it is. This medium-duty chassis was first shown last year, making its debut under a Thor Class A motorhome concept that we covered in September. That vehicle promised the same great EREV range and capability to a market that values independence and spontaneity more than most, and bringing those values to a medium-duty commercial market that’s lapping up “messy middle” propaganda from Shell NACFE is just smart business.

The new Harbinger chassis’ batteries are manufactured by Panasonic. No word on who is making the 1.4L ICE generator, but my money’s on the GM SGE four-cylinder last seen in the gas-powered Chevy Spark. You guys are smart, though – if you have a better guess who the supplier might be, let us know in the comments.

SOURCE | IMAGES: Harbinger.


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