Lectric XPress e-bike launched as $999 torque sensor commuter electric bike
In what should no longer come as a surprise to anyone, Phoenix-based Lectric Ebikes has done it again. With today’s launch of the Lectric XPress, the maker of North America’s #1 best-selling electric bike just entered yet another e-bike category with a new model designed to crush the competition.
The Lectric XPress follows the best-selling Lectric XP 3.0 at the same price point, just $999, yet offers a full-size commuter tire alternative to the company’s hot-selling folding fat tire e-bike.
Riding on 27.5 x 2.1-inch urban tires, the bike sports several sought-after commuter features including a custom suspension fork, torque sensor, thru-axle front wheel, integrated front and rear lighting, color LCD screen, hydraulic disc brakes, 7-speed transmission, and an easily removable battery.
Interestingly, the bike has multiple options, and I’m not just talking about the choice between a step-over and a step-through variant. Riders can also choose their motor power and battery capacity.
The entry-level model features a 500W continuous-rated motor and a 500 Wh battery (48V 10.4 Ah) good for 45 miles (70 km). The upgraded model has a 750W continuous-rated motor and a 672 Wh battery (48V 14 Ah) good for 60 miles (100 km). Both e-bike models are certified to UL2849, which covers the entire e-bike system including the motor, battery, charger, and the bike’s electronics.
While the upgraded motor and battery model is priced higher at $1,299, it’s one heck of a deal during the pre-launch period now since Lectric includes a free spare battery in that package, meaning riders will get two 672 Wh batteries for over 120 miles (200 km) of range.
The 500W motor offers 55 Nm of torque, which is modest but not overly powerful. It’s likely more than sufficient for beachside cruising or commuting through flat cities. The 750W motor offers 85 Nm of torque, providing more “oomph” and increased hill-climbing ability. It’s also worth noting that the peak watt ratings for the two motors are substantially higher at 1,092W and 1,310W, respectively.
Both models top out at Class 3 speeds of 28 mph (45 km/h), use a trigger-style thumb throttle, and feature a torque sensor. That torque sensor pairs with Lectric’s proprietary PWR pedal-assist system to use a wattage-based setup providing a pedal assist output that most riders find much more comfortable than the typical, lurching and jerkier pedal assist found on most budget-minded electric bike models on the market.
The move into the urban commuter e-bike market follows Lectric’s past expansions into cargo e-bikes, adventure e-bikes, electric trikes, premium commuter e-bikes, and lightweight folding e-bikes, all at much lower prices than nearly any other company in the North American market.
It’s part of what has become the company’s modus operandi, summed up by Lectric’s co-founder and CEO Levi Conlow:
“The reason for our success is simple — if you build an e-bike with all the value and high quality that people want and offer it for a price that’s not a penny more than it needs to be, it will resonate with people and build lasting relationships.”
Electrek’s Take
Well, that’s it. There’s a new king of the budget-friendly commuter e-bikes in town. Sure, plenty of people already used the Lectric XP 3.0 as a commuter e-bike, but now the company has launched a dedicated commuter e-bike that likely better fills that role.
The Lectric XPress offers basically everything most value-oriented commuter riders want, and does it for an incredibly reasonable price. At just $999, getting a suspension fork, hydraulic disc brakes, and torque sensor is an incredible deal. It’s so good that I’m willing to look past the decision to put a thumb throttle on the bike instead of the only correct choice: a half-twist throttle. The only other downside is that color options are a bit limited. The step-over only comes in black and the step-thru only comes in white. I’d have loved some more color options, but Lectric is already flirting with SKU proliferation as it is, so I understand the desire to limit color options for the sake of simplifying fulfillment.
To me, this basically replaces what the RadMission e-bike was designed to do several years ago: be a simple and effective metro-style commuter bike. Except that for the same price, Lectric is throwing a lot more features at us than Rad did. The downside is it weighs a good bit more than the RadMission, tipping the scales at 57 lb (26 kg), but most riders never pick their e-bikes up so the added weight may not put off too many people.
I would have liked to see racks and fenders included as standard equipment, but the RadMission didn’t include them either back in the day, and it even left the kickstand as an add-on. So by comparison, I guess we should be happy we get a kickstand this time.
One thing we definitely get is a lot more variation. The ability to upgrade to a more powerful motor is also an interesting add-on feature, letting flatland riders save a few hundred bucks while still giving hilly terrain riders the option for better climbing power and stronger acceleration. And a choice of battery capacity also lets riders decide whether it’s worth spending more to increase range, or saving money for the modest range of a 500 Wh battery pack.
All told, this looks incredibly promising. It’s not going to rival commuter e-bikes priced several times as much, but it’s not meant to. Lectric’s whole thing is giving riders e-bike models that do a lot for a little, and the Lectric XPress fits that play perfectly.
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In under 66 hours after launching its new low-cost electric SUV, VinFast’s VF 3 racked up nearly 30,000 pre-orders. Starting under $10,000 (235 million VND), the VinFast VF 3 is already creating a buzz. Following the special price promo, the VF 3 will cost around $20,000.
Meet the new low-cost mini electric SUV
VinFast revealed the affordable VF 3 at CES 2024 in January, announcing plans to launch the mini electric SUV globally, including in the US.
The VF 3 aims to “unbound the imagination of urban mobility that is not only sustainable but also accessible for everyone,” according to Ms. Tran Mai Hoa, VinFast’s deputy CEO of sales and marketing.
In other words, VinFast looks to meet the growing demand for low-cost EVs globally. VinFast designed the compact electric SUV for cruising through the city.
At 125.6″ long, 66.1″ wide, and 63.8″ tall, the VF 3 is even smaller than Volvo’s new EX30 (167″ long X 72″ wide X 61″ tall).
The electric SUV is equipped with a 10″ infotainment with Android Auto and Apple CarPlay compatibility. With the second-row seats fully folded, the VF 3 offers up to 550 liters of cargo space.
VinFast VF 3 racks up close to 30,000 pre-orders in 66 hrs
After announcing it was accepting early deposits for the VF 3 last week, VinFast says the electric SUV is already creating hype.
VinFast revealed the VF 3 received 27,649 pre-orders within 66 hours of launching, a new record for a Vietnamese automaker.
The VF 3 is already a “social media phenomenon in Vietnam,” topping trend rankings ahead of its global debut. With the low-cost special introductory price of $9,248 (235 million VND), the mini electric SUV is already making a big impact.
The special price (235 million VND) is for the battery subscription model. With the battery included, the VF 3 can be ordered for 315 million VND ($12,390). The promotion ran from May 13 to May 15.
VinFast says paying for the VF 3 upfront costs only half the price of the cheapest gas car currently available in Vietnam.
Otherwise, buyers need only 50 to 70 million VND ($1,965 to $2,750) for a down payment. The rest can be financed with monthly payments of just over 2 million VND ($78.5) over eight years.
For the first time in Vietnam, VinFast sold the VF 3 on e-commerce platforms like Shopee, resulting in over 50% online orders.
VinFast (VFS) stock is up 8% on Thursday and 44% over the past month. However, VFS shares are still down 34% this year and over 90% from their ATH last August, shortly after going public.
Electrek’s Take
VinFast has already announced plans to sell the VF 3 globally, including in the US. However, the $10,000 (235 million VND) promo price was a special offer. The VF 3 will cost around $20,000 in Vietnam.
Although these are pre-orders, it’s still a sign of demand for low-cost EVs. If the demand is high in Vietnam, it should be interesting to see how many pre-orders the VF 3 racks up in other global markets like Europe, North America, and Asia.
Would you buy the VF 3 for $20,000? Let us know your thoughts in the comments below.
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Environment
Aptera to close crowdfunding and begin Solar EV production with the help of a private financial group
Solar EV startup Aptera Motors announced it is leaving its “crowdfunding nest” of sorts, putting a bookend on three years of its Regulation A offering to pursue private funding. The startup shared a deadline for public investors while it engages in discussions with private financial group US Capital to help (finally) get its solar EVs into scaled production.
Scaling is hard.
We’ve seen dozens of startups aim for that vital yet oh-so-difficult milestone only to fall flat and go broke. In the small but exciting segment of solar EVs, especially, finding the funds to reach scaled production has proven arduous. However, Aptera Motors has shown its tact and scrappiness in garnering funding via several unique solutions, such as crowdfunding.
In the summer of 2021, Aptera Motors launched a Regulation A offering, which provides an exemption from registration requirements with the SEC in regard to public offerings of its securities, thus opening the door for funding from its (potential) customers up to a certain amount.
In early 2023, Aptera co-founders Steve Fambro and Chris Anthony announced an Accelerator Program, requesting community funding investments from reservation holders starting at a minimum of $10,000. Those who invested in Aptera have had their deliveries prioritized with commemorative Launch Edition builds.
By February 2024, crowdfunding investors had called “dibs” on all 2,000 initial production slots, raising nearly $34 million. Even so, Aptera’s co-founders relayed that more funding would be required to scale, and the company has been exploring additional funding streams since.
Earlier this month, Aptera introduced a new investment opportunity in the form of a self-directed IRA. Less than two weeks later, Aptera shared a deadline for crowdfunding opportunities as it looks to move forward with private funding from at least one of the larger players in FinTech investments.
Aptera will stop accepting crowdfunding on June 30
Per an email sent to reservation holders and newsletter subscribers, Aptera will close its Regulation A offering on June 30, 2024, capping off three years of crowdfunding that resulted in over $100 million from more than 17,000 investors.
Those faithful investors have secured a stake in Aptera’s future as it sunsets its crowdfunding program and turns to new horizons with private financial group US Capital. Aptera co-founder and co-CEO Chris Anthony spoke about the startup’s next phase in financial security as it gears up for scaled solar EV production:
The response to our Regulation A offering has been overwhelming, and we are grateful for the support of over 17,000 investors who share our passion for clean, efficient transportation. Their investments have been instrumental in propelling Aptera towards production readiness.
Aptera’s successful crowdfunding efforts have paved the way for the company to engage with US Capital to secure funding for the production of its Launch Edition vehicles. Through this fundraising initiative, Aptera aims to bring its innovative vehicles to market at scale in 2025.
We are excited to partner with US Capital as we enter this crucial phase of production funding. Their expertise and support will enable us to realize our vision of delivering solar electric vehicles that redefine the future of transportation.
As we’ve reported in the past, the startup remains interested in an IPO to help get production over the finish line, but a partnership with US Capital can help get Aptera into production of the initial Launch Editions and possibly beyond. Anthony gives the full scoop in Aptera’s update video below.
The deadline to invest in Aptera via crowdfunding is June 30, 2024, at 11:59 PM PT.
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The sun sets behind a pumpjack during a gusty night on March 24, 2024 in Fort Stockton, Texas.
Brandon Bell | Getty Images
Oil prices held firm Thursday as stockpiles in the U.S. fell for a second week and inflation eased.
U.S. crude stockpiles declined by 2.5 million barrels last week, according to the Energy Information Administration, as refiners processed more crude in a sign that demand might be perking up.
With inflation easing slightly in April, futures traders penciled in a higher probability that the Federal Reserve might cut interest rates in September. Lower interest rates help stimulate the economy which can boost crude oil demand.
West Texas Intermediate and Brent are little changed on the week, but have lost 4% and 5.8%, respectively, this month.
Here are today’s energy prices:
- West Texas Intermediate June contract: $78.73 a barrel, up 10 cents, or 0.13%. Year to date, U.S. crude oil has gained 9.8%.
- Brent July contract: $82.84 a barrel, up 9 cents, or 0.11%. Year to date, the global benchmark has advanced 7.5%.
- RBOB Gasoline June contract: $2.52 per gallon, up 0.74%. Year to date, gasoline futures are ahead 19.6%.
- Natural Gas June contract: $2.43 per thousand cubic feet, up 0.58%. Year to date, gas is down 3.5%.
WTI v Brent
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