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Olto, the second electric two-wheeler model from the mobility startup Infinite Machine, was just unveiled as a bike lane-ready moped ready to conquer US cities. Combining slick design with high-tech features, it brings many automotive-level hallmarks to the e-bike market.

After the Cybertruck-looking Infinite Machine P1 was revealed nearly two years ago, offering a nearly highway-capable electric two-wheeler, the company is now back with a much tamer model designed to be easier to produce… and to purchase.

The result is still just as futuristic as we’d expect, given Infinite Machine’s penchant for those metallic body panels and slick design scheme. But the performance is more muted, allowing it to fit into Class 2 e-bike regulations for full compliance with bicycle lanes in most cities and eschewing any pesky licensing or insurance requirements.

That means it has a top speed of 20 mph (32 km/h) and functional pedals, even if they aren’t likely to get used very much. Infinite Machine seems to understand that point, designing a magnetic leveling feature that holds them flat to better serve as footrests when they’re being used as, well, footrests. The top speed matches Class 2 e-bike regulations, though it can be unlocked in “Off-road mode” to reach 33 mph (53 km/h).

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The UL-certified battery is a 48V 25Ah pack with 1.2 kWh of capacity – or enough for a claimed 40 miles (64 km) of real world range.

The battery is easily removable, with the clever design allowing it to be dropped into the battery compartment in any orientation. Unlike a typical electric bicycle battery that needs to be carefully aligned on small guide rails, the Olto’s battery can simply be plopped into place in whatever orientation is most convenient based on where the rider is standing.

A home charging dock allows the battery to be similarly plopped onto the charger, with fast charging bringing the battery back up to 50% charge in just an hour or fully charged in three hours.

If that’s still not fast enough, a second battery could presumably be kept on the charger to be swapped in while the first is charging, though 40 miles (64 miles) is likely plenty of range for most urban commuters. The 20 lb (9 kg) battery is light enough to be carried indoors to charge at work or another destination if a planned route is expected to exceed 40 miles round trip.

High-tech features throughout

Despite the electric bicycle-level performance, the Olto carries technology and features that seem more at home in the automotive world.

For example, the anti-theft features are numerous. On the electronic side, they include GPS and LTE tracking with movement notifications to the owner’s phone, as well as a dedicated AirTag slot for added peace of mind, plus an electric lock that prevents the motor or rear wheel from turning. A second auxiliary battery in the vehicle ensures these features still work even when the main battery has been removed for charging, and the major components like the motor and battery are electronically locked to the Olto. On the physical side, turning off the moped engages a steering column lock that prevents the handlebars from being turned, and a special U-lock mount has been built into the scooter for even more secure parking.

The Olto includes several physical designs that go above and beyond what we generally see in bike lane-ready vehicles, such as totally hidden wires and suspension (oh right, it’s got full suspension for both the front and rear), insertable sidewalls for the step-through portion to enable more cargo carrying capacity, and a long enough bench seat with hidden pop-out rear passenger footpegs and grab handles for carrying a second rider (though the bench doesn’t look like the most comfortable seat I’ve ever seen). Two helmet hooks built into the under-seat storage area allow riders to leave their helmets hanging yet securely locked to the moped, similar to a motorcycle. Bag hooks, like on a seated scooter, make it easier for riders to carry light cargo between their legs.

Unlocking the Olto can be performed with the owner’s phone using Bluetooth proximity unlocking (or an NFC card, if your phone is out of battery or not with you). That digital unlocking feature also allows riders to share temporary or permanent access with friends or family so they can also unlock and use the moped from their phone. Speaking of phones, there’s a secure compartment with USB charging so riders can charge their phone while it’s safely locked on the moped. The high-visibility LED lighting system includes high and low-beam headlights, daytime running lights, and a full turn signal package. There’s also a genuine motorcycle horn – not one of those weak e-bike “meep meep” horns.

While the high-tech features feel more automotive-level, the Olto still draws inspiration from the e-bike industry, especially with its line of bolt-on accessories. From utility racks and baskets to child carriers, the add-on accessories feel very much like the type of gear you’d add to a traditional electric bicycle to gain even more functionality from it – though Infinite Machine’s versions certainly do look a bit sleeker.

Is the Olto an electric bicycle or an electric motorcycle?

It’s fairly obvious that the Olto is walking a fine line when it comes to legality. The whole point of this vehicle is that it is intended to fit into electric bicycle regulations, allowing its use in bicycle lanes instead of being limited purely to surface street use, as well as free riders from the licensing, registration, and insurance requirements of motorcycles. And to achieve those goals with a vehicle that is as “grey area” as they come, the spec sheet walks a fine line as well.

For example, the rear hub motor is listed as 750W nominal, though is capable of 2 kW in “off-road” mode. The Olto’s top speed is 33 mph (53 km/h), though again, only in off-road mode. In the on-road mode, which riders presumably are expected to pinky promise that they’ll stick to when riding in bike lanes and city streets, the speed is limited to 20 mph (32 km/h), or the same as a Class 2 electric bicycle.

Then there are the pedals. They are fully functional, though they aren’t exactly necessary. That’s not different than a typical Class 2 e-bike, at least on the surface. It’s common for electric bicycle riders in the US to treat pedals as stationary footrests, relying instead on the throttle for power. But the difference with the Olto is that the pedals have a feature to magnetically level them for more comfortable footrest-like use by riders who don’t care about the charade of “well, I could pedal it if I wanted to…”.

So again, everything here checks the box to make it a street-legal electric bicycle in nearly every jurisdiction in America. But the Olto is also obviously designed to make it as convenient as possible to ride as a scooter instead of a bicycle.

The company put it well, describing the Olto as a mobility tool that gets more people out of cars and onto more efficient, city-friendlier vehicles. “We believe the best way to get around cities is with smaller, smarter vehicles. We started Infinite Machine to build the best of them. Olto is our second product—and for many, their first step beyond cars. A Class 2 e-bike built for the bike lane. No insurance, no registration—just freedom. A product and a tool. Infinite Machine isn’t about autonomous vehicles. It’s about autonomous humans—tools that let people carve their own path.”

But if it has e-bike performance, then what’s the point?

Priced at US $3,495 (and now taking $100 reservations for delivery later this year), the Olto is either a cheap moped or an expensive e-bike, depending on how you look at it. And since it has e-bike performance, I can see many people asking why they would expect to pay so much more for a 20 mph ride.

And that’s the exact question I posed to Joe Cohen, the CEO and co-founder of Infinite Machine. As he explained, it’s all about what the Olto provides that conventional electric bikes have missed out on, and how all of those feature combine in a single vehicle.

“What makes Olto special isn’t any single feature—it’s how everything comes together,” Joe told me. “Rather than retrofitting a bicycle with a battery and motor, we started from first principles to build the perfect bike-lane vehicle: it is snappy and quick, sturdy, nearly impossible to steal, and beautiful. It has automotive-grade components (hydraulic brakes, horn, turn signals, lighting) and technology throughout (LTE/GPS always-on tracking). It prioritizes real-world use cases with a hot-swappable, high-capacity battery, seating for two, and a modular accessory system. But in the end, when you’re riding Olto, you forget about all of these details—it all just works.”

Electrek’s Take

Here’s the thing. This isn’t the first time we’ve seen this concept of two-wheeled vehicles designed to act like bicycles, but I think it’s the most elegant example yet. And I also think it’s the most ethical example yet. Most of the time, we’re talking more about Sur Ron-style bikes that are effectively 50 mph e-dirt bikes with bolt-on pedals used as a cheap attempt to skirt the law. But this isn’t that. In this case, Infinite Machine has built something that is halfway between an e-motorcycle and an e-bicycle, but instead of giving it motorcycle performance with e-bike parts, they’ve given it e-bike performance with motorcycle parts. And that’s the key to making this type of vehicle actually work in our cities, both on the street and in the bike lane.

If we look at the legal side, this is absolutely, 100% a street-legal Class 2 electric bicycle (in most places in the US). But they’ve managed to bring so much of the design, manufacturing, and technology used in electric motorcycles to the e-bike world that riders are now getting an e-bike that offers 10x what it used to. Hidden locks, GPS tracking, full-suspension, steering lock, tamper notifications on your phone, secondary battery to power anti-theft measures when the first battery is removed, fast charging dock, designed to be left outside in the elements, locking storage, motorcycle horn, real mirrors, motorcycle grade hydraulic disc brakes, upright scooter-like riding position, and so much more. Your e-bike might have a couple of these features, but I can guarantee it doesn’t have all of them.

And at the same time, let’s be honest: most people are going to put it in off-road mode on their first day and never see the 20 mph speed limit again. That will allow riders to better pace car traffic in big cities, something that we at Electrek have long felt is a safety feature for two-wheelers. Being able to keep up with traffic on an e-bike or scooter, even if that means going a few miles-per-hour over the legal limit, means fewer interactions with cars and a safer environment for everyone. However, with appropriate emphasis added, 33 mph on a 176 lb vehicle is much too fast for a bicycle lane, and it would be egregiously irresponsible for riders of a vehicle like this to endanger other cyclists in the bike lane like that. So I hope that riders can be responsible enough to realize that, and only use off-road mode where it is safe to do so. But considering we let anyone over 16 years old choose how fast they want to drive a 6,000 lb vehicle, I’m not exactly going to overexert myself suggesting that it’s the sub-200 lb, sub-35 mph two-wheeler category where we should be focusing our regulatory or enforcement efforts just yet.

Long story short, bravo, Infinite Machine. You knocked it out of the park on this design. Now, you just have to deliver on your promises. Good luck, we’re all watching.

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Paris’ popular bike share program has a big sticky finger problem

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Paris' popular bike share program has a big sticky finger problem

Paris’ bike-share system, Vélib has long been considered one of the shining success stories of urban micromobility. With a massive fleet of over 20,000 pedal and electric-assist bicycles around Paris, the service has helped millions of residents and tourists get around the City of Light without needing a car or scooter. But lately, a growing problem is threatening to knock the wheels off this urban mobility marvel: theft and joyriding.

According to city officials and the service operator, more than 600 Vélib bikes are now going missing every single week. That’s over 30 bikes a day simply vanishing from the system – some stolen outright, others taken on “joy rides” and never returned.

“At the moment we’re missing 3,000 bikes,” explained Sylvain Raifaud, head of the Agemob company that currently operates the Velib system. That’s nearly 15% of over 20,000 Vélib bikes across Paris.

The sticky-fingered culprits aren’t necessarily professional thieves or organized crime rings. Instead, they’re often regular users who treat the shared bikes like disposable toys.

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The city estimates that many people have figured out how to pry the bikes out of the system’s parking docks, unlocking one for a casual cruise and then ditching it somewhere far from a docking station.

Once pried free, the bikes are technically usable for the next 24 hours until their automatic locking feature kicks in. At that point, the bikes are often simply abandoned. Some end up in alleyways. Others get tossed in rivers. A few just disappear completely.

And since the bikes are intended to be parked at their many docking stations around the city, they don’t have GPS chips, further complicating recovery of “liberated” bikes.

The issue started small but has grown into more than an inconvenience – it’s beginning to undermine the entire purpose of the service. With bikes going missing at such a high rate, many Vélib docking stations are left empty, especially during rush hours.

Riders looking for a quick commute or a convenient hop across town are increasingly finding themselves without available bikes, or having to walk long distances to find a functioning one.

That kind of unreliability chips away at user confidence and threatens to drive potential riders back into cars, cabs, or other less sustainable forms of transport at a time when Paris has already made great strides to dramatically reduce car usage in the city.

The losses are financially painful, too. Replacing stolen or vandalized bikes isn’t cheap, and the resources spent on tracking down missing equipment or reinforcing anti-theft measures are stretching thin. Vélib has faced theft and vandalism issues before, especially during its early years, but this latest surge has officials sounding the alarm with renewed urgency.

Officials acknowledge that there’s no easy fix. Paris, like many cities with bike-share systems, walks a fine line between accessibility and accountability. Part of what makes Vélib so successful is its ease of use and widespread availability. But those same features make it vulnerable to misuse – especially when enforcement is limited and the consequences for abuse are minimal.

The timing of the problem is especially unfortunate. In recent years, Paris has seen impressive results in reducing car traffic, expanding bike lanes, and promoting cycling as a key part of its sustainable transport strategy. Vélib is a cornerstone of that plan. But if the system becomes too unreliable, it risks losing the very people it was designed to serve.

Meanwhile, as Parisians increasingly find themselves staring at empty docks, the challenge for the city and Vélib will be to restore confidence in the system without making it harder to use. That means striking the right balance between freedom and responsibility, between open access and protection against abuse.

In a city where cycling is supposed to be the future of mobility, losing thousands of bikes to joyriders and sticky fingers isn’t just frustrating; it’s unsustainable.

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CNBC Daily Open: Elon Musk, founder of companies and political parties

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CNBC Daily Open: Elon Musk, founder of companies and political parties

U.S. President Donald Trump and Elon Musk attend a press event in the Oval Office of the White House in Washington, D.C., U.S., May 30, 2025.

Nathan Howard | Reuters

When they lose a significant other, most men do indeed become a “TRAIN WRECK.” Then they pick up the pieces of their lives and start living again — paying attention to their personal grooming, hitting the gym and discovering new hobbies.

What does the world’s richest man do? He starts a political party.

Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”

Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.

It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.

To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.

Folks, here’s direct democracy — and the powerful post-separation motivation — in action.

 — CNBC’s Erin Doherty contributed to this report.

What you need to know today

And finally…

An investor sits in front of a board showing stock information at a brokerage office in Beijing, China.

Thomas Peter | Reuters

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CNBC Daily Open: Most people don’t start a political party after separation

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CNBC Daily Open: Most people don't start a political party after separation

US President Donald Trump, right, and Elon Musk, chief executive officer of Tesla Inc., during a news conference in the Oval Office of the White House in Washington, DC, US, on Friday, May 30, 2025.

Francis Chung | Bloomberg | Getty Images

When they find themselves without a significant other, most men finally start living: They pay attention to their personal grooming, hit the gym and discover new hobbies.

What does the world’s richest man do? He starts a political party.

Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”

Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.

It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.

To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.

Folks, here’s direct democracy — and the powerful post-separation motivation — in action.

 — CNBC’s Erin Doherty contributed to this report.

What you need to know today

Trump confirms tariffs will kick in Aug. 1. That postpones the deadline by a month, but tariffs could “boomerang” back to April levels for countries without deals. Trump on Friday said letters with “take it or leave it” offers will go out to 12 countries Monday.

U.S. stock futures slipped Sunday. Despite the White House pushing back the return of “reciprocal” tariffs, some investors could be worried trade negotiations would result in higher-than-expected duties. Europe’s Stoxx 600 index dropped 0.48% Friday.

OPEC+ members to increase oil output. Eight members of the alliance agreed on Saturday to hike their collective crude production by 548,000 barrels per day, around 100,000 more than expected.

Elon Musk forms a new political party. On Saturday, the world’s richest man said he has formed a new U.S. political party named the “American Party,” which he claims will give Americans “back your freedom.”

[PRO] Wall Street is growing cautious on European equities. As investors seek shelter from tumult in U.S., the Stoxx 600 index has risen 6.6% year to date. Analysts, however, think the foundations of that growth could be shaky.

And finally…

Ayrton Senna driving the Marlboro McLaren during the Belgian Grand Prix in 1992.

Pascal Rondeau | Hulton Archive | Getty Images

The CEO mindset is shifting. It’s no longer all about winning

https://www.cnbc.com/2025/07/06/the-ceo-mindset-is-shifting-its-no-longer-all-about-winning.html

CEOs today aren’t just steering companies — they’re navigating a minefield. From geopolitical shocks and economic volatility to rapid shifts in tech and consumer behavior, the playbook for leadership is being rewritten in real time.

In an exclusive interview with CNBC earlier this week, McLaren Racing CEO Zak Brown outlined a leadership approach centered on urgency, momentum and learning from failure. 

— Spriha Srivastava

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