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Nascent electric hydrofoil boat builder Vessev shared another key milestone this week, putting its first electric hydrofoiling boat into commercial operations. Ferry transport company Fullers360 is now operating the ultra-efficient VS–9 vessel to transport tourists and other passengers.

Vessev is a young, eco-friendly boat builder founded in Auckland, New Zealand a few years ago. The company currently operates there and has been conducting sea trials of its flagship vessel, an electric hydrofoiling boat called the VS–9, since coming out of stealth mode in May 2024.

We have been following the marine startup as it moved closer to reaching commercial operations and tourism with its unique electric hydrofoiling boat that “flies” above the water. Last year, we learned that Vessev has lined up its first customer in NetZero Maritime – the green technology team at Fullers360 – New Zealand’s largest ferry operator, who signed on to help commercialize the hydrofoil technology.

This past September, Vessev shared images and footage of its first completed VS–9 electric hydrofoiling boat build alongside news that it would begin transporting passengers in New Zealand as soon as certification was complete.

Last we heard, the VS–9 had entered the last phase of sea trails before beginning commercial operations and had even started selling ride tickets to the public. Today, Vessev confirmed that electric hydrofoil rides are operational in New Zealand and shared some video footage of the experience.

  • Hydrofoiling boat
    Source: Vessev
  • Hydrofoiling boat
  • Hydrofoiling boat

Vessev’s first hydrofoiling boat transports tourists in NZ

As promised, Vessev’s first electric hydrofoiling boat has begun commercial ferry operations in Auckland, New Zealand, with Fullers360. The quiet, sustainable vessel has been dubbed “Kermadec” and is now transporting passengers on tourism trips across Auckland’s waterways.

According to Vessev, this is the first time in the world that a certified electric hydrofoiling boat has entered a commercial fleet for transport services. Vessev CEO Eric Laakmann elaborated:

We are incredibly proud to see the Vessev VS–9 enter service with Fullers360. The VS—9 is the first electric vessel to enter the Fullers360 fleet and represents an enormous step on their path to being net zero by 2040. For the public, we’re thrilled that they can now also share in what we’ve been experiencing since the launch of the VS—9 in May.

Traditionally, larger vessels are required to deliver a comfortable passenger experience as they can handle the impact of waves and wake. By flying above the waves, the Vessev VS–9 delivers a large vessel experience on an agile platform that can be berthed and charged in nearly any marina. In the future, we are going to see many different use cases made viable by technology like this.

The VS–9 will transport its passengers at speeds up to 25 knots (~29 mph) and can travel up to 50 nautical miles (57 miles/92.6km) on a single charge. With its first electric hydrofoiling boat in operation, Vessev will look to deploy additional sustainable vessels, but that’s not all.

The company has shared plans to continue its collaboration with Fullers360 and eventually introduce a new vessel into service called VS–18 – a 100-seater electric hydrofoiling commuter ferry. While we await that model, here is some footage of the VS–9 in action:

Source: Vessev

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A quarter of Tesla’s earnings were due to recongnizing a $600 million gain on Bitcoin

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January 30, 2025

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A quarter of Tesla's earnings were due to recongnizing a 0 million gain on Bitcoin

Roughly a quarter of Tesla’s earnings last quarter were due to recognizing a $600 million gain on Bitcoin. Tesla still came short of expectations.

Tesla and Bitcoin

Tesla is among the few large public companies that invested some of their cash into cryptocurrency.

Early in 2021, Tesla invested $1.5 billion in Bitcoin. Shortly after, the automaker started accepting the cryptocurrency as payment on new vehicles.

However, a few days later, Tesla took a step back with crypto by removing the Bitcoin payment option. The company noted concerns over the energy needs of the Bitcoin network:

Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

This is a concern that many Tesla community members shared when Tesla first announced its Bitcoin investment, and many were angered by the fact that the company didn’t think about it in the first place.

At the time, Tesla noted that they were not selling their stake in Bitcoin and that they planned to resume taking Bitcoin payments once the network showed a higher mix of renewable energy.

Last year, Tesla made some moves that pointed to starting to take Bitcoin payments again, but it has yet to happen.

A year after the initial investment, Tesla’s Bitcoin holding increased to $2 billion, but the cryptocurrency lost a lot of its value in 2022 and the automaker’s position suffered – though the automaker also divested about 75% of its Bitcoin position during that time.

Tesla reported over $1.2 billion in proceeds from selling Bitcoins, but the automaker still sits on a good amount.

Tesla’s Bitcoin move in Q4 2024

Last quarter, Tesla moved its bitcoins around into new wallets, triggering a lot of speculation. We suspected that Tesla might be moving things around to comply with the latest crypto accounting regulations.

Sure enough, with the release of Tesla’s Q4 2024 earnings yesterday, the automaker confirmed that it moved the Bitcoin to comply with the adoption of ASU 2023-08.

The move enabled Tesla to record a $600 million mark-to-market gain, accounting for a significant part of its $2.3 billion net income in Q4, which was already down 70% year-over-year.

Tesla disclosed in a SEC filing today:

Other income (expense), net, changed favorably by $523 million in the year ended December 31, 2024 as compared to the year ended December 31, 2023 primarily due to remeasurement of our bitcoin digital assets to fair value in 2024 (see above), partially offset by unfavorable fluctuations in foreign currency exchange rates on our intercompany balances.

If it wasn’t for Bitcoin, Tesla’s net income would be down 78% in Q4 2024 compared to Q4 2023.

If you remove regulatory credit, it would be down 86% and Tesla’s earnings would add up to barely more than $1 billion compared to its more than $1 trillion valuation.

Electrek’s Take

Bitcoin literally saved Tesla’s quarter. Unless there’s another major run-up in Bitcoin, that won’t happen again because Tesla has benefited from not measuring Bitcoin’s value for more than a year.

It was great timing for Tesla, but it won’t be able to save the company in Q1 2025, which is expected to be more challenging as it transitions its Model Y to the new version.

But based on the stock price today, it appears that Elon still has strong shareholders support as they still believe in his AI-related predictions.

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Range Rover’s first EV now has 57,000 buyers on the waitlist

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January 30, 2025

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Range Rover's first EV now has 57,000 buyers on the waitlist

Range-Rover's-first-EV-waitlist

The wait is almost over. The Range Rover electric SUV will finally hit showrooms this year. As one of the most anticipated launches of 2025, Range Rover’s first EV already has 57,000 buyers on the waitlist. Here’s what you can expect from the luxury electric SUV.

Range Rover’s first EV secures 57,000 on the waitlist

After announcing third-quarter earnings this week, Jaguar Land Rover (JLR) said demand continues building for the Range Rover Electric SUV.

Ahead of its official debut later this year, JLR confirmed Range Rover’s first EV now has 57,000 clients on the waitlist. That’s up from around 48,000 in November.

With sales of Range Rover’s plug-in hybrid (PHEV) models surging 163% in Q3, JLR said more buyers are taking the steps toward electrification.

The company promises that the Range Rover Electric will be “the most capable luxury SUV” on the market. In November, we got our first look at the new model undisguised during extreme weather testing. JLR is putting it through “the most intensive testing any Range Rover vehicle has ever endured” ahead of its arrival.

Range-Rover's-first-EV-waitlist
Range Rover Electric SUV testing (Source: JLR)

According to Range Rover’s executive director of product engineering, Thomas Müller, the EV is already outperforming its iconic gas-powered models.

After driving the Range Rover Electric up 328 ft (100 meters) on fine sand, Müller said, “Range Rover Electric matches the performance of its ICE equivalents; in some instances, even surpassing them.”

Range-Rover-Sport-EV
Range Rover Electric prototype testing (Source: JLR)

Range Rover’s first EV will hit showrooms later this year. The brand claims its new in-house electric powertrain will enable Range Rover to “exceed its already renowned performance on low-grip surfaces, ensuring all-terrain, all-weather, and all-surface capability.”

Following the Range Rover Electric, a smaller Sport model will be introduced, which was caught at testing at Nurburgring (Check it out here). Next year, Range Rover will launch a mid-size electric SUV, likely the Velar.

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Velotric Valentine’s sale offers $800 in e-bike savings from $999, EcoFlow DELTA 2 Max and RIVER 3 Plus flash sales, more

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January 30, 2025

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Velotric Valentine's sale offers 0 in e-bike savings from 9, EcoFlow DELTA 2 Max and RIVER 3 Plus flash sales, more

velotric discover 1 plus

We have a condensed selection of solid savings in today’s Green Deals, with Velotric’s Valentine’s Day sale taking the lead with up to $700 in initial e-bike price cuts, as well as an additional $100 taken off orders of any two models. It’s the perfect chance to fall in love with the popular 2024 Discover 1 Plus e-bike while it’s down at $1,199, among others. There’s also a one-day-only flash sale running as part of EcoFlow’s ongoing Game Day Power sale, which provides up to $1,099 in savings on two power station bundles – one for the DELTA 2 Max and and an 800W alternator charger at $1,399, and the other for the RIVER 3 Plus with a 45W solar panel and a protective bag for $269. We also have the second-ever discount on Greenworks’ latest 60V 17-inch Cordless Electric Push Lawn Mower at $300. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s $200 launch discount on Aiper’s new Surfer S2 Solar Pool Skimmer, Segway’s Valentine’s Day offers, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Fall in love with Velotric’s 2024 Discover 1 Plus e-bike at $1,199 during Valentine’s Day sale

Velotric wants to celebrate the love with its latest Valentine’s Day sale that is taking up to $700 off its e-bike lineup alongside 30% off accessories, as well as an additional $100 in savings on orders of any two models. One of the best options from under Velotric’s flag is the 2024 Discover 1 Plus e-bike that is down at $1,199 shipped. This model usually carries a $1,599 price tag most days, with sales often taking things down to $1,299, though we’ve seen it go as low as $1,099 occasionally in 2024 – most recently during Black Friday. This is a $400 markdown from its full price, which gives you the chance to hop aboard your own at the third-lowest price we have tracked – $100 above the Black Friday low.

Velotric’s updated 2024 Discover 1 Plus e-bike comes stocked with a 500W motor (peaking at 900W), a 692Wh battery, and five levels of PAS to support your commute up to 65 miles on a single charge at up to 28 MPH top speeds (after unlocking the capabilities above its standard 20 MPH speed). Of course, there is a throttle to go full electric when you want but keep in mind that this will reduce its travel distance. While it doesn’t have some of the fancier bells and whistles of the new Discover 2, like the upgraded parts, higher power ratings, and Apple Find My integration, this predecessor does offer some solid features, especially when considering the affordable price.

Velotric’s 2024 Discover 1 Plus e-bike sports other features like the Shimano 7-speed derailleur, an integrated 60 lux LED headlight, a taillight with braking functionality, double hydraulic disc brakes, larger 26-inch puncture-resistant tires, an increased IPX7 waterproof rating, fenders above both tires, and a 3.5-inch LCD display. There’s a USB-A port on the display to charge your phone as you ride, and it even has a walk assist mode for when you are forced to stop your ride to get it up extreme inclines.

Velotric’s other Valentine’s Day sale offers:

  • Fold 1 Lite e-bike: $999 (Reg. $1,099)
    • 28 MPH for up to 48 miles
    • 30% off accessories with e-bike purchase
  • Go 1 Utility e-bike: $999 (Reg. $1,699)
    • 25 MPH for up to 55 miles
    • 30% off accessories with e-bike purchase
  • Fold 1 Step-Thru e-bike: $1,199 (Reg. $1,399)
    • 28 MPH for up to 55 miles
    • 30% off accessories with e-bike purchase
  • T1 ST Plus Lightweight e-bike: $1,299 (Reg. $1,549)
    • 28 MPH for up to 70 miles
    • 30% off accessories with e-bike purchase
  • Nomad 1 Plus Step-Thru e-bike: $1,399 (Reg. $1,799)
    • 28 MPH for up to 55 miles
    • 30% off accessories with e-bike purchase
  • Packer 1 Cargo e-bike: $1,699 (Reg. $2,199)
    • 25 MPH for up to 52 miles
    • 30% off accessories with e-bike purchase
  • Discover 2 e-bike: $1,799 (Reg. $1,899)
    • 28 MPH for up to 75 miles
  • Summit 1 e-bike: $1,899 ($1,999)
    • 28 MPH for up to 70 miles
EcoFlow DELTA 2 Max Portable Power Station

EcoFlow flash sale takes up to $1,099 off on-the-go DELTA 2 Max and RIVER 3 Plus power station bundles from $269

As part of its ongoing Game Day Power sale, EcoFlow is offering flash savings for the rest of the day on two power station bundles, with the first being the brand’s DELTA 2 Max Portable Power Station that comes with an 800W alternator charger for $1,399 shipped. Sadly the sale’s sitewide 5% off coupon doesn’t apply to flash sale offers. This package would normally cost you $2,498 in full, with costs dropping lowest back in October when a similar flash sale dropped things to $1,299. Today you can score it at the second-lowest price we have tracked, saving you $1,099 in the process – but it only lasts until tonight so don’t dawdle. This deal is also matching over at Amazon, as well.

A nice middle-ground option for folks needing a backup power solution for trips out of the house while also wanting a reliable means for some home backup in cases of emergency, EcoFlow’s DELTA 2 Max delivers a 2,048Wh LiFePO4 capacity that you can expand further to 6,144Wh with the addition of expansion batteries. Its 2,400W power output (surging to 4,800W) should handle most of your appliance needs through its 15 port options, though you can always activate its X-Boost mode to bump that to 3,400W output for larger ones. It allows for two solar inputs to be hooked up to reach a maximum of 1,000W for recharging, or you can take advantage of its dual-charging capabilities using solar alongside a standard wall outlet for 80% battery in 43 minutes, among the other options. The alternator charger is rated for 1kWh per every 1.3 hours of driving while the station is hooked up to your car – so you can regain a full battery in around 2.6+ hours of travel.

The second offer during this flash sale is the smaller, more personal RIVER 3 Plus Portable Power Station bundled with a 45W solar panel and a protective bag for $269 shipped. It provides a more compact 286Wh LiFePO4 capacity that dishes up to 600W of output power (surging to 1,200W) through its seven port options. Like the above model, there are some extra battery options that can expand the station’s battery capacity to a maximum of 858Wh. Equipped with the brand’s X-Boost and X-Stream tech, you’ll get a full battery from a wall outlet in just one hour, while connecting its maximum 220W solar input gives you the same in 1.5 hours.

Be sure to browse EcoFlow’s full Game Day Power sale while it continues through February 5, with up to $2,999 in initial discounts, 3x EcoCredits on select offers, a 15% accessory discount, and 5% off sitewide savings through the sale’s promo code.

Greenworks 60V 17-inch Cordless Electric Push Lawn Mower

Greenworks’ latest 60V 17-inch cordless electric push lawn mower returns to its $300 low in second-ever discount

Amazon is offering the second-ever chance to save on Greenworks’ new 60V 17-inch Cordless Electric Push Lawn Mower for $299.99 shipped, after clipping the on-page $100 off coupon. This new model of the brand’s affordable mowers starts things at a $400 full price, with only one previous discount on the books, which first brought things to the $300 low a few weeks ago. That same deal is returning today, slashing $100 off the tag and returning the costs to the lowest price we have tracked.

Alongside some of the brand’s pricier mowers, like the CrossoverZ riding model, for example, Greenworks also puts out some solid budget-friendly options for folks. This new 60V push mower is one such option, with the included 4.0Ah battery providing it with a 40-minute runtime for smaller yards (though if you own other batteries, you can certainly cover more ground). The 17-inch lightweight deck comes rust-resistant and lightweight for more effortless maneuverability and control. Equipped with a brushless motor, it features a six-position cutting height adjustment from 1.5 to 3.15 inches while also offering rear bagging and mulching functionality.

Best New Year EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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