Harbinger Motors, a startup building medium-duty electric commercial vehicle chassis, has just opened its manufacturing facility in Garden Grove, CA, with an aim to deliver the first upfront cost-competitive medium duty EVs by the end of this year.
We headed over to Harbinger’s grand opening for its new facility to have a look at their technology and their big plans to shake up the medium duty market. It’s new Garden Grove facility is the first EV manufacturing plant in Orange County, CA – Rivian and Hyundai have headquarters here, but manufacturing is elsewhere.
The company is still quite new – it was only founded in 2021, and has a team of about 100 people total. But that team includes plenty of EV experience, with executives and engineers who formerly worked at Coda, Faraday Future, Canoo… and, of course, Tesla. Most notably, Harbinger’s Chief Production Officer is Gilbert Passin, who led Tesla’s production efforts in setting up its Fremont factory at the beginning of the Model S ramp.
The goal is as you’d expect – to disrupt and electrify the medium-duty commercial market, specifically in the class 4-6 range of vehicles. These classes cover a large variety of vehicles, like walk-in vans, bucket trucks, beverage delivery, school buses and so on. And these vehicles do a lot of miles, use a lot of gas, and make a lot of pollution, often specifically in places where people live – so the potential gains for electrification are high (which is a big reason why California recently released big new truck regulations).
But Harbinger’s model is a little different from other entrants in the space. These types of vehicles can be sold as finished vehicles, as chassis-cab combinations, or as a stripped chassis. In the latter two cases, buyers will go to an upfitter to build their desired solution onto the vehicle chassis.
Harbinger is focusing on delivering stripped chassis, rather than finished vehicles or chassis-cab combinations. This allows for greater flexibility and simpler manufacturing for the company itself, and given that buyers are often going to need an upfitter anyway, there’s no sense in building up a whole vehicle when this way buyers can get exactly what they need.
To this end, Harbinger has recently delivered its very first customer chassis, to THOR Industries, an RV maker (and contributor to Harbinger’s Series A investment round). It was delivered to Thor’s Innovation Lab, to explore how electric chassis could be implemented into the company’s product design.
At its grand opening, Harbinger showed off several alpha versions of its chassis, and its in-house designed motors and battery packs. The company uses a modular battery pack structure, with each pack holding 35kWh and chassis being configurable with 2-6 packs depending on application and length (wheelbase options go from 158″ to 208″). Packs are filled with standard 2170-sized cells from a top automotive cell provider (Harbinger wouldn’t tell us which one, but we did see some shipping labels on some crates in the battery area…).
In-house design of components is an important distinguisher for Harbinger, which it says will help keep costs down. By building its own battery packs, its own driver-assist systems, using drive- and steer-by-wire – all of this means Harbinger says it will be able to offer lower prices than the competition.
In fact, it claims that not only will it start delivering the final product by the end of this year, but that it will deliver EV chassis with “zero price acquisition premium” over equivalent gas and diesel-powered chassis.
This is quite the claim – so far, we usually have a hard time even getting any price quoted from medium and heavy duty vehicle manufacturers. This is often because, well, they’re usually quite high in upfront cost compared to diesel vehicles. Due to lower long-term fueling and maintenance cost (Harbinger says its motors will last 450k miles) many businesses can save money long term with an EV, and economics are only getting better over time – but Harbinger isn’t promising lower longterm costs, it’s promising lower upfront cost as well.
Now… part of this is due to recent incentives. The Inflation Reduction Act includes a $40,000 incentive for commercial vehicles, which certainly does a lot to bring the economics into balance for buyers (and note: diesel vehicles still benefit from the massive subsidy for ignored pollution costs). But even with all of that taken into account, Harbinger’s price-equivalence would be a first, and a first by a longshot, as far as we can tell.
Not only does Harbinger promise to be price-competitive with gas and diesel, it also says it will offer similar payload capacity. Harbinger told us that, in the 4-pack configuration, its vehicle is lighter than a Freightliner MT55 diesel chassis.
In the world of cargo hauling, payload is important – if you can carry more weight you can make more money, at least if you’re “scaling out” your capacity (as opposed to “cubing out,” filling up the vehicle’s volume with lighter goods). So losing out on payload to a bunch of batteries can be a no-go for some haulers, but Harbinger says you won’t have to make that decision.
The 4-pack is estimated to offer somewhere around 165 miles of range on a 140kWh battery pack. This is more than enough for a lot of applications, but due to its modular design, Harbinger can offer configurations with less range (for campus or other low range vehicles, for example) or with over 200 miles of estimated range for the larger 5- or 6-pack options. Of course, range depends highly on use case, upfit solutions, how much you’re hauling, and many other factors.
Harbinger also wants to bring more driver assistance into the medium duty space. It’s not making any promises about automated driving (we couldn’t get them to say anything more than level 2, which is what nearly all consumer-available systems operate at these days), but it does want to add electronic aids to monitor driver attention and the surroundings of the vehicles, both to avoid accidents and potential loss of goods. It’s designing its own systems for this, detecting and tagging objects, and selling ADAS kits along with its vehicles that it will instruct upfitters how to install and calibrate.
All that in-house design means it won’t have to purchase solutions and pay extra margins to other providers – but it also means a lot of work for a small company, especially one that wants to start delivering by the end of this year.
Electrek’s Take
This isn’t the first we’ve met the Harbinger team, as we saw them last year at ACT Expo and had a quick drive around the parking lot in an early demonstration vehicle. And this drive was fine, the truck worked, it had been running for hours with lots of drivers, and felt about as we expect an electric medium duty vehicle to feel (that is, better than the diesel version – more nimble, more quiet, more clean).
But at the time and now, we were skeptical of Harbinger’s big claims. It’s not that we have any particular reason not to believe them, except that the claim of price parity from a startup when nobody else has even gotten close are extraordinary. And extraordinary claims require extraordinary evidence, so we have to wait and see. If they can follow through on them, it will be a revelation.
And there is plenty of talent within the ranks with EV industry experience. Some of it comes from famous failures like Coda and companies that have never quite got off the ground like Faraday Future, which we can optimistically hope has helped provide warnings about overpromising. And what Harbinger is promising isn’t that crazy, it’s just a commercial van – but the price still seems hard to deliver.
But the presence of Gilbert Passin as Chief Production Officer, who led the early stages of bringing Tesla into the volume manufacturing business with the Model S, certainly lends a lot of credence. Passin most recently headed up Wrightspeed, Tesla co-founder Ian Wright’s attempt to electrify garbage trucks, and has previously worked at several large traditional automakers as well.
So we remain quite interested in what Harbinger has to do, and if they deliver on these promises, it will be a Really Big Deal™. We just wouldn’t be surprised to see them slip a little… but even if they do slip, the product could still be a solid offering anyway.
One last thing to note – at the event, Harbinger parked 5 food trucks inside the huge factory building. This was neat and provided a lot of food options, but between the vehicle exhaust driving in and out, and the smoke coming out of the BBQ truck, my eyes and nose were starting to hurt by the end of the event, to the point where I sheltered myself in the battery area of the factory (which has its own separate climate control) for respite.
Wouldn’t it be nice if those medium-duty commercial trucks had an option to avoid exhaust in similar situations? I wonder where we might find an option like that…
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Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks.
Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower.
The reversal came after a Bloomberg report that JPMorgan plans to start charging fintechs for access to customer bank data, a move that could raise costs across the industry.
For fintech firms that rely on thin margins to offer free or low-cost services to customers, even slight disruptions to their cost structure can have major ripple effects. PayPal and Affirm both ended the day nearly 6% lower following the report.
Despite its stellar year, the online broker is facing several headwinds, with a regulatory probe in Florida, pushback over new staking fees and growing friction with one of the world’s most high-profile artificial intelligence companies.
Florida Attorney General James Uthmeier opened a formal investigation into Robinhood Crypto on Thursday, alleging the platform misled users by claiming to offer the lowest-cost crypto trading.
“Robinhood has long claimed to be the best bargain, but we believe those representations were deceptive,” Uthmeier said in a statement.
The probe centers on Robinhood’s use of payment for order flow — a common practice where market makers pay to execute trades — which the AG said can result in worse pricing for customers.
Robinhood Crypto General Counsel Lucas Moskowitz told CNBC its disclosures are “best-in-class” and that it delivers the lowest average cost.
“We disclose pricing information to customers during the lifecycle of a trade that clearly outlines the spread or the fees associated with the transaction, and the revenue Robinhood receives,” added Moskowitz.
Robinhood is also facing opposition to a new 25% cut of staking rewards for U.S. users, set to begin October 1. In Europe, the platform will take a smaller 15% cut.
Staking allows crypto holders to earn yield by locking up their tokens to help secure blockchain networks like ethereum, but platforms often take a percentage of those rewards as commission.
Robinhood’s 25% cut puts it in line with Coinbase, which charges between 25.25% and 35% depending on the token. The cut is notably higher than Gemini’s flat 15% fee.
It marks a shift for the company, which had previously steered clear of staking amid regulatory uncertainty.
Under President Joe Biden‘s administration, the Securities and Exchange Commission cracked down on U.S. platforms offering staking services, arguing they constituted unregistered securities.
With President Donald Trump in the White House, the agency has reversed course on several crypto enforcement actions, dropping cases against major players like Coinbase and Binance and signaling a more permissive stance.
Even as enforcement actions ease, Robinhood is under fresh scrutiny for its tokenized stock push, which is a growing part of its international strategy.
The company now offers blockchain-based assets in Europe that give users synthetic exposure to private firms like OpenAI and SpaceX through special purpose vehicles, or SPVs.
An SPV is a separate entity that acquires shares in a company. Users then buy tokens of the SPV and don’t have shareholder privileges or voting rights directly in the company.
OpenAI has publicly objected, warning the tokens do not represent real equity and were issued without its approval. In an interview with CNBC International, CEO Vlad Tenev acknowledged the tokens aren’t technically equity shares, but said that misses the broader point.
“What’s important is that retail customers have an opportunity to get exposure to this asset,” he said, pointing to the disruptive nature of AI and the historically limited access to pre-IPO companies.
“It is true that these are not technically equity,” Tenev added, noting that institutional investors often gain similar exposure through structured financial instruments.
The Bank of Lithuania — Robinhood’s lead regulator in the EU — told CNBC on Monday that it is “awaiting clarifications” following OpenAI’s statement.
“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments,” a spokesperson said, adding that information for investors must be “clear, fair, and non-misleading.”
Tenev responded that Robinhood is “happy to continue to answer questions from our regulators,” and said the company built its tokenized stock program to withstand scrutiny.
“Since this is a new thing, regulators are going to want to look at it,” he said. “And we expect to be scrutinized as a large, innovative player in this space.”
SEC Chair Paul Atkins recently called the model “an innovation” on CNBC’s Squawk Box, offering some validation as Robinhood leans further into its synthetic equity strategy — even as legal clarity remains in flux across jurisdictions.
Despite the regulatory noise, many investors remain focused on Robinhood’s upside, and particularly the political tailwinds.
The company is positioning itself as a key beneficiary of Trump’s newly signed megabill, which includes $1,000 government-seeded investment accounts for newborns. Robinhood said it’s already prototyping an app for the ‘Trump Accounts‘ initiative.
Korean auto giants Hyundai and Kia think lower-priced EVs will help minimize the blow from the new US auto tariffs. Hyundai is set to unveil a new entry-level electric car soon, which will be sold alongside the Kia EV2. Will it be the IONIQ 2?
Hyundai and Kia shift to lower-priced EVs
Hyundai and Kia already offer some of the most affordable and efficient electric vehicles on the market, with models like the IONIQ 5 and EV6.
In Europe, Korea, Japan, and other overseas markets, Hyundai sells the Inster EV (sold as the Casper Electric in Korea), an electric city car. The Inster EV starts at about $27,000 (€23,900), but Hyundai will soon offer another lower-priced EV, similar to the upcoming Kia EV2.
The Inster EV is seeing strong initial demand in Europe and Japan. According to a local report (via Newsis), demand for the Casper Electric is so high that buyers are waiting over a year for delivery.
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Hyundai is doubling down with plans to introduce an even more affordable EV, rumored to be the IONIQ 2. Xavier Martinet, CEO of Hyundai Motor Europe, said during a recent interview that “The new electric vehicle will be unveiled in the next few months.”
Hyundai Casper Electric/ Inster EV models (Source: Hyundai)
The new EV is expected to be a compact SUV, which will likely resemble the upcoming Kia EV2. Kia will launch the EV2 in Europe and other global regions in 2026.
Hyundai is keeping most details under wraps, but the expected IONIQ 2 is likely to sit below the Kona Electric as a smaller city EV.
Kia Concept EV2 (Source: Kia)
More affordable electric cars are on the way
Although nothing is confirmed, it’s expected to be priced at around €30,000 ($35,000), or slightly less than the Kia EV3.
The Kia EV3 starts at €35,990 in Europe and £33,005 in the UK, or about $42,000. Through the first half of the year, Kia’s compact electric SUV is the UK’s most popular EV.
Kia EV3 (Source: Kia)
Like the Hyundai IONIQ models and Kia’s other electric vehicles, the EV3 is based on the E-GMP platform. It’s available with two battery packs: 58.3 kWh or 81.48 kWh, providing a WLTP range of up to 430 km (270 miles) and 599 km (375 miles), respectively.
Hyundai is expected to reveal the new EV at the IAA Mobility show in Munich in September. Meanwhile, Kia is working on a smaller electric car to sit below the EV2 that could start at under €25,000 ($30,000).
Kia unveils EV4 sedan and hatchback, PV5 electric van, and EV2 Concept at 2025 Kia EV Day (Source: Kia)
According to the report, Hyundai and Kia are doubling down on lower-priced EVs to balance potential losses from the new US auto tariffs.
Despite opening its new EV manufacturing plant in Georgia to boost local production, Hyundai is still expected to expand sales in other regions. An industry insider explained, “Considering the risk of US tariffs, Hyundai’s move to target the European market with small electric vehicles is a natural strategy.”
2025 Hyundai IONIQ 5 (Source: Hyundai)
Although Hyundai is expanding in other markets, it remains a leading EV brand in the US. The IONIQ 5 remains a top-selling EV with over 19,000 units sold through June.
After delivering the first IONIQ 9 models in May, Hyundai reported that over 1,000 models had been sold through the end of June, its three-row electric SUV.
While the $7,500 EV tax credit is still here, Hyundai is offering generous savings with leases for the 2025 IONIQ 5 starting as low as $179 per month. The three-row IONIQ 9 starts at just $419 per month. And Hyundai is even throwing in a free ChargePoint Home Flex Level 2 charger if you buy or lease either model.
Unfortunately, we likely won’t see the entry-level EV2 or IONIQ 2 in the US. However, Kia is set to launch its first electric sedan, the EV4, in early 2026.
Ready to take advantage of the savings while they are still here? You can use our links below to find deals on Hyundai and Kia EV models in your area.
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As EVBox shuts down its Everon business across Europe and North America, EV charging provider Blink Charging is stepping up to offer support to customers caught in the transition.
EVBox’s software arm Everon recently announced it’s winding down operations alongside EVBox’s AC charger business. That’s left a lot of charging station hosts and drivers wondering what comes next. Now, EVBox Everon is pointing its customers toward Blink as a recommended alternative.
Blink says it’s ready to help, whether that means keeping existing chargers up and running or replacing aging gear with new Blink chargers.
“EVBox has played a significant role in the growth of EV charging infrastructure across the UK and Mainland Europe, and we recognize the trust hosts have placed in its solutions,” said Alex Calnan, Blink Charging’s managing director of Europe. “With the recent announcement of Everon’s withdrawal from the EV charging market, it’s natural to have questions about what this means for operations. At Blink, we want to assure Everon customers that we are here to help them navigate this transition.”
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Blink says it’s able to offer advice, replacements, and ongoing network management to make the changeover as smooth as possible.
Everon users who switch to Blink will get access to the Blink Network portal via the Blink Charging app. That opens up real-time insight into charger usage and lets hosts set pricing, manage users, and download performance reports.
“At Blink, our charging technology is future-ready,” added Calnan. “With advancements like vehicle-to-grid technology on the horizon, our chargers are built to support the future of electric vehicles and charging habits.”
The company says its chargers are in stock and ready to ship now for any Everon customers looking to make the jump.
In October 2024, France’s Engie announced it would liquidate the entire EVBox group, which it said posted total losses of €800 million since Engie took over in 2017. EVBox is closing its operations in the Netherlands, Germany, and the US.
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