Nissan plans to buy 20 GWh of batteries from SK On, enough to power around 300,000 EVs to be sold in the US. However, after delaying EV production in the US again, when will the new EVs finally arrive?
Nissan revealed plans to invest $500 million in its Canton, Mississippi, plant almost three years ago to prepare the facility for its newest electric vehicles.
Production was initially set to begin in Canton this year, but Nissan pushed the start date back until 2026 last January with concerns over profitability and EV demand. According to the Madison County Journal, the company is now pushing the start date until 2028.
Just yesterday, an Automotive News report claimed Nissan was also canceling plans to build a smaller electric SUV in the US. The SUV was expected to sit between the LEAF and Ariya.
The smaller electric SUV was expected to be the fifth EV built in Canton, following a pair of Nissan and Infiniti electric sedans. Nissan spokesperson Brian Brockman said the company was focusing on other, more profitable projects that would see more demand.
Nissan to buy batteries from SK On for new EVs in the US
Despite the delays, the automaker is still expanding its supply chain in the US to prepare for the upcoming EVs.
A Nikkei report on Thursday claimed that Nissan secured a battery supply from SK On for EV models sold in the US. Nissan agreed to buy 20 GWh of batteries, or enough to power roughly 300,000 EVs.
2025 Nissan LEAF (Source Nissan)
The automaker will reportedly begin installing the new SK-supplied batteries by 2028, which is when it plans to start building EVs in the US.
Nissan’s battery supply deal comes as the company looks to establish a domestic supply chain for EVs in the US.
Nissan Epic electric SUV concept (Source: Nissan)
Although Nissan announced plans to team up with Honda in December to keep pace with EV leaders like BYD and Tesla, it doesn’t expect to realize any substantial benefits until around 2030.
Nissan Motor’s, including Infiniti’s, US market share has dropped 2.1% over the past five years to just 5.8%. In 2024, the automaker sold just over 31,000 electric vehicles in the US, including roughly 20,000 Ariya models and 11,000 LEAFs.
Honda, which began delivering the Prologue just last March based on GM’s Ultium platform, sold over 33,000 models last year.
The new battery supply deal is a start, but in 2028, Nissan will face an influx of new EV models with which it will have to compete.
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Traffic flows on a highway in the Iranian capital Tehran on June 13, 2025 following reported Israeli strikes targeting Iran early in the morning.
AFP | Getty Images
DUBAI, United Arab Emirates — Iran launched more than 100 drones toward Israeli territory Friday morning after Israel’s overnight missile strike on the country killed at least three of its senior military leaders.
“We can now confirm that the Chief of staff of the Iranian Armed Forces, Commander of the IRGC and the Commander of Iran’s Emergency Command were all eliminated in the Israeli strikes across Iran,” Israel Defense Forces spokesperson Effie Defrin said.
“Iran launched approximately 100 UAVs towards Israeli territory, which we are working to intercept.”
Rocket sirens sounded in northern Jordan as Jordan’s state media reported the country intercepted several Iranian drones in its airspace.
Israel’s attack on Iran, which it said was targeted at nuclear enrichment facilities, came just days before U.S. and Iranian officials were set to attend a sixth round of nuclear deal talks. It was the largest attack on the Islamic Republic since the Iran-Iraq war of the 1980s.
News of the strikes sent oil prices surging as much as 13% before paring gains, with global benchmark Brent crude surpassing $78 a barrel at one point.
Asian and European stocks fell, as investors rushed into safe havens amid fear of a wider war in a region that accounts for one-third of the world’s oil supply. Dow futures were down over 500 points by 8:21 a.m. London time.
Brent crude is currently trading at $72.76 per barrel at 8:23 a.m. in London, up 5%, with U.S. WTI trading at $71.27 per barrel, up 4.6%.
All eyes are now on the next moves by Iran and the United States, particularly whether the U.S. will get involved in this conflict. The U.S. State Department has stated it was not involved in Israel’s overnight strikes on Iran, with Secretary of State Marco Rubio calling the actions unilateral and urging Iran not to target U.S. interests or personnel in the region.
Tehran does not see it that way. Iran’s foreign ministry warned it would hold Washington responsible for the consequences of Israel’s actions.
President Donald Trump is expected to attend a meeting of the National Security Council scheduled for 11 a.m. Eastern Time.
This is a developing story and will be updated shortly.
Investors fled to safe-haven assets Friday after a series of Israeli airstrikes on Iran marked a major escalation of conflict in the region.
The scale of the attack, which Israel said was targeting Iran’s nuclear program, took markets by surprise, pushing up prices of assets thought to offer protection in times of heightened volatility.
“The news has led to significant fears about an escalation and a wider regional conflict,” Deutsche Bank strategists said in a note early Friday. “The effects of the attack have cascaded across global markets, with a strong risk-off move for several asset classes.”
Gold hit an almost two-month high on the news, although pared some gains as the morning progressed. Spot prices of the metal were up 1.1% at $3,420.24 at 7:42 a.m. London time. Gold futures for August delivery were 1.3% higher at $3.446.
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Gold
U.S. Treasury prices also rose, pushing yields lower. Yields on the 30-year, 10-year and 2-year Treasury notes were all down around 3 basis points.
Investors flee to safe-haven assets during times of uncertainty to protect their money from volatility and find stability when risk assets tumble.
Israel Prime Minister Benjamin Netanyahu said his country had launched a “targeted military operation” against Iran’s nuclear and ballistic missile program. Iran said it launched around 100 drones targeting Israel in retaliation.
“This operation will continue for as many days as it takes to remove this threat,” Netanyahu added.
U.S. Secretary of State Marco Rubio said the attack on Israel was “unilateral” and made without U.S. support. “We are not involved in strikes against Iran and our top priority is protecting American forces in the region,” Rubio said in a statement.
In currencies, the U.S. dollar, Swiss franc and Japanese yen — all considered safe havens — rose.
After a tricky few months following policy uncertainty sparked by the Trump administration, the U.S. dollar index, which measures the greenback against a basket of major peers, was 0.36% higher.
The Swiss franc and Japanese yen both climbed against the dollar earlier Friday, but were broadly unchanged by 6:50 a.m. London time.
Oil prices soar
The most dramatic market reaction was seen in oil, as investors worried about retaliation from Iran and potential oil supply disruption.
Crude futures jumped as much as 13% following the airstrike, setting them on course for their largest single-day gains since 2020.
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Brent crude
U.S. West Texas Intermediate was trading 7% higher at 7:48 a.m. London time at $72.76 per barrel, while global benchmark Brent surged 6.8% to $74.04 per barrel, both off earlier highs.
“Looking forward, the focus is now shifting to what form Iran’s retaliation might take. It’s also unclear whether talks between the US and Iran over their nuclear programme will continue,” the Deutsche Bank strategists added.
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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