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TELO is a new electric truck startup based in Silicon Valley that aims to provide an electric truck with the capabilities of today’s full-size pickup trucks, but in a right-sized package that actually fits in a city.

TELO is a startup cofounded by Jason Marks, who led ADAS/Autonomous drive test programs at National Instruments, and EV industry veteran Forrest North, an early Tesla Roadster engineer, cofounder of Mission Motors and former COO of Recargo/Plugshare.

The startup is still in its early stages, but has big plans for its tiny electric truck, with a spec sheet of some pretty unbelievable specs.

TELO plans to offer a 106kWh battery on its first model, with a dual motor configuration capable of 500 horsepower. This gives the truck a 0-60 time of about four seconds, with a top speed of 125mph.

The company estimates that the truck will have a range of 350 miles, and is targeting a 20-minute charge time from 20-80% capacity (this works out to about a 190kW average charge rate from 20-80%, though it should be able to take about a 320kW peak).

All of this comes in an incredibly small package. It’s only 152 inches long – the same length as the electric Mini Cooper SE. That’s five feet shorter than the Toyota Tacoma, the best-selling “compact” pickup truck in America, and six and a half feet shorter than the F-150 Lightning. And at 4,400 lb., it weighs less than a Tesla Model Y.

Somehow, though, despite the Mini having four seats at that length, TELO promises to fit five seats and a full-size 60″ truck bed, same as the base model crew cab Tacoma. That’s six inches longer than the 54″ bed of the Rivian R1T, six inches shorter than the 66″ bed of the F-150 Lightning, and the same length as the excessive Hummer EV “supertruck,” though with 49 inches between the wheels, the TELO is a little narrower than each.

TELO says that in order to achieve this space-efficiency, it has chosen to optimize for space at all points in the design process. These design choices can be summarized as “good enough to be amazing, but we don’t have to be the best,” said TELO. By not going over-the-top with any particular spec, the company can save space and money.

For example, TELO says its battery – which uses standard 21700 cells –  will be 50% more space efficient than the rest of the industry because it is able to save space with lower-amperage connections since it’s not aiming to break any records with 0-60 times like some other big-battery EVs. And the front of the truck bed is the back of the rear seats, so that’s one fewer body panel or seat part that needs to be designed, tooled, produced, and attached to the vehicle.

On that point – the rear seats act as a mid-gate, and can be folded down to create a flat surface long and wide enough to carry full 4×8 sheets of plywood or a nine-foot surfboard even with the tailgate up (and potentially fully enclosed by a tonneau cover, though TELO has not yet decided if one will come standard).

Even without a tonneau cover, the truck will have enclosed storage in the form of a tunnel storage compartment, which will function similarly to Rivian’s “gear tunnel.” This has been a popular feature on the Rivian, as a place to store dirty items that you don’t want to throw into an open bed, or to use the tunnel door itself as a seat or as a step to access gear on a roof rack.

But on the TELO, the tunnel can also be accessed from above by removing part of the truck bed. This doesn’t just give more options for accessing storage, but opens up a whole new possibility for rear passengers.

As if two rows and a full-size bed weren’t enough, TELO plans to offer an optional camper shell and bolt-in third-row seats, bringing total seating capacity to eight total passengers, says the company. In this configuration, the tunnel gets used as the footwell for the rear passengers.

Alternately, the camper shell can be used without third-row seats for enclosed storage, and TELO wants to connect it to vehicle HVAC, which could be useful for businesses or for owners who often carry pets around in the back.

The truck will be capable of V2L, with outlets in the bed, though TELO hasn’t decided how much draw it will be capable of yet.

TELO is being built with safety in mind from the get-go. Despite the short front-end with only one inch of overhang over the front wheels (on a 111.5-inch total wheelbase), the seating position is not entirely cab-over and occupants are still hidden behind a crumple zone. But in keeping with Marks’s previous expertise working on ADAS testing systems, TELO claims it has several innovative electronic aids for both driver and passenger safety planned, though it couldn’t elaborate on what specific technologies it had in mind.

But more importantly, a small electric truck is inherently safer for roads, pedestrians, and for the environment. In recent years we have seen a trend toward massive land yachts taking over the road (yet with less utility and smaller beds), with SUV and truck sales skyrocketing. And it’s been no coincidence that pedestrian deaths have risen rapidly in sync with sales of larger vehicles that often leave pedestrian safety as an extreme afterthought.

Not only do these massive trucks and SUVs harm pedestrians, they also cause more road damage, run through more tires (causing more particulate pollution from tire particles), contribute to sprawl, and use more resources both to manufacture and to operate. It’s all bad, it’s all dangerous, and we need to do something about it.

Cofounders Forrest North and Jason Marks with designer Yvez Behar

TELO offers a solution here. It’s a vehicle that has the capability of a full-size truck, but uses far fewer resources and is less of a danger to everyone around it. And for a global population that is both growing and urbanizing, small urban EVs are going to be important both for city dwellers who need or choose to have a vehicle, and for businesses that need cargo space but would benefit from a smaller vehicle.

And the company thinks that the market is ready for a truck like this. There has been some pushback brewing against rising vehicle sizes lately, and even “compact” trucks like the aforementioned Tacoma are several feet longer than this vehicle. Crossover SUVs are popular because people want cars that have more space and utility, but aren’t as big as a truck or full-size SUV.

So what if they could have even more utility in an even smaller package? It could be a hit, especially given that there isn’t anything else like it on the American market (and small delivery trucks are already popular in both Europe and Asia, so there’s your proof-of-concept).

So now, down to the bottom line: How much does it cost, and when can we get it?

TELO is currently targeting a price of $50K before incentives, and it should qualify for Inflation Reduction Act tax credits too. In the future, TELO wants to offer a version with a smaller battery and single motor, presumably with a lower price. This would be good for people who know they don’t need a huge 350-mile battery, or for businesses with set routes or mostly intracity travel. But, like most startups, the focus will be to start upmarket and deliver one highly equipped version to start off, then expand with other options later.

As for planned delivery, there are several steps to go before then. TELO wants to have a running prototype by the end of summer, a press vehicle by the end of the year, to do homologation (crash/aero analysis) over the course of the next year and conclude all of those preproduction steps in 2024. Then, it hopes to have the first 500 hand-built vehicles by the end of 2025, and 10,000 contract-manufactured vehicles in 2026.

These are all incredibly tight timelines, and basically describe perfect execution – so, as is often the case with EV startups, there may be some “flexibility” on the above dates.

If you’re interested in getting a TELO, the company is taking pre-orders today at its website, telotrucks.com. Pre-orders are $152 – just like the 152-inch length of the truck. You can also join TELO’s Discord server where it will solicit feedback on development.

Electrek’s Take

I’ve made my thoughts clear about ballooning SUV and truck sizes multiple times before on this site. In short, I’m against it. We need smaller vehicles, and we need to live in denser, greener spaces. These are important steps in the fight against climate change, which is the most important problem humanity has ever encountered.

When it comes to giant SUVs, I’m looking at you, almost every automaker, because all of you seem to be releasing giant three-row electric SUVs this year, which threatens potential emissions reductions from going EV. But I’m also looking at government, because part of the reason for that is due to rules that encourage SUVs, a problem that the EPA finally recognized and is taking some action to fix in its new regulations.

As for the TELO, even though we haven’t gotten to ride in it yet, I think it’s pretty clear that I love everything that’s been promised here.

But, when I said the specs were “unbelievable” above, I meant it. Reading through the press release, I really thought the company was pushing the bounds of reality.

After speaking with the founders, it all does seem more realistic. I can see how they can pack a lot into a tiny package, and how they’re getting a lot of the numbers they’ve quoted.

I’m still skeptical of a couple of them – promising such a huge jump in volumetric energy density, for example – but I see how most of this is possible.

And I’m also a bit skeptical of the need for so many features, when trimmed-down versions of the truck could be more fit-to-purpose. A delivery truck doesn’t need a second row of seats or 0-60 in four seconds, a family hauler doesn’t need to go 125 mph, and so on. But this is just the start, and TELO said they would offer trimmed-down versions in the future, so we’ll hope to see those.

I wouldn’t be surprised to see production timing slip, to see some features cut or made optional, or to see some other changes to price or battery size. But even with a few reductions here and there, this still is an astounding package and fills a market that needs to be filled and that nobody else is filling. And it can’t get here quick enough, in my opinion, so we hope they make it to production (making cars is hard) and can start to bend the needle in the US toward right-sized vehicles with lots of capability in less space.

As always, we’re happy to hear your feedback in the comments. What do you think about the TELO? Are their plans realistic, is there a market for this kind of truck in the US? Let us know below.

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China cracks down on automated driving features after Tesla’s FSD launch

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China cracks down on automated driving features after Tesla's FSD launch

Just after Tesla launched its ‘Full Self-Driving’ package, in China, the country announced that it cracking down on automated driving features with new limitations.

In February, Tesla launched a first version of its “Full Self-Driving” FSD package in China for owners with the latest “Hardware 4.0”, or “HW4”, vehicles.

Most of the features under Tesla’s FSD package have been limited to North America due to Tesla training its system for this market first and due to regulatory limitations in other markets.

Shortly after Tesla launched FSD in China, the American automaker had to pause its rollout due to updated requirements from China’s Ministry of Industry and Information Technology (MIIT).

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Now, MIIT has confirmed that it held a meeting with automotive industry stakeholders yesterday, and it has further clarified the rollout of advanced driver assistance (ADAS) features.

CNEV reported on the meeting:

Car companies were asked to refrain from using words like “self-driving,” “autonomous driving,” “smart driving,” “advanced smart driving,” and instead use the term “combined assisted driving” to avoid misleading consumers, according to the minutes of the meeting.

Tesla had already changed the name from ‘Full Self-Driving’ to “Intelligent Assisted Driving” following the launch in China.

Based on a statement from MIIT, the meeting focused on enforcing the previously announced updated requirements that launched right after Tesla introduced FSD in China (translated from Chinese):

The meeting emphasized that automobile manufacturers must deeply understand the requirements of the “Notice”, fully carry out combined driving assistance testing and verification, clarify the system functional boundaries and safety response measures, and must not make exaggerations or false propaganda. They must strictly fulfill their obligation to inform, and truly assume the main responsibility for production consistency and quality safety, and truly improve the safety level of intelligent connected vehicle products.

Regulators want automakers to reduce the frequency of new software updates and instead focus on extended testing before releasing new updates.

The last few months have been quite chaotic for ADAS systems in China. Along with Tesla’s FSD release, several Chinese companies released their systems, including BYD, Xiaomi, and Huawei.

Xiaomi reported a fatal accident in which its ADAS system was active just seconds before the crash, and Tesla owners using FSD racked up thousands of dollars in fines due to FSD making mistakes.

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Global Payments shares plunge 17% after company announces $24 billion Worldpay deal

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Global Payments shares plunge 17% after company announces  billion Worldpay deal

The Global Payments Company logo seen displayed on a smartphone.

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Global Payments shares tumbled 17% on Thursday after the company said it’s buying Worldpay for more than $24 billion while simultaneously selling its Issuer Solutions business to Fidelity National Information Services.

The company said that in acquiring Worldpay, which FIS had purchased in 2019 before later selling a majority stake, it’s expanding its reach and will be able to serve over 6 million customers across more than 175 countries, enabling $3.7 trillion in annual payment volume.

In selling its Issuer Solutions unit to FIS for $13.5 billion, Global Payments is divesting a unit for back-end financial processing that’s long been viewed as a stable provider of growth. In the end, Global Payments is going bigger in providing payments services to merchants, while FIS is focusing on issuer processing.

FIS bought Worldpay for about $35 billion in 2019 and sold most of its stake last year to GTCR.

Global Payments said on Thursday that it obtained committed bridge financing and plans to issue $7.7 billion of debt “to replace the bridge commitment and refinance Worldpay’s outstanding debt.”

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Global Payments CEO Cameron Bready called it a “defining day,” and said the transaction gives the company “significantly expanded capabilities, extensive scale, greater market access and an enhanced financial profile.”

But Wall Street was less enthusiastic. While the acquisition gives Global Payments a larger footprint in payment processing, analysts at Mizuho described it as a strategic step backward.

Mizuho reiterated its neutral rating on the stock, warning that “the business could be seeing more meaningful margin pressure than investors acknowledge.” The analysts wrote that FIS won the trade, getting the “crown jewel” with Global Payments getting “more of the same.”

FIS shares rose more than 8% on Thursday.

Both deals are expected to close in the first half of 2026, pending regulatory approval.

WATCH: Global Payments to buy Worldpay

Faber Report: Global Payments to buy Worldpay for $22.7B

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Tesla Cybertruck is in crisis: new discounts and throttling down production

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Tesla Cybertruck is in crisis: new discounts and throttling down production

The Tesla Cybertruck is in crisis. The automaker is still sitting on a ton of old inventory, which it is now heavily discounting, and it is throttling down production to try to avoid building up the inventory again.

When launching the production version of the Cybertruck in late 2023, Tesla CEO Elon Musk claimed that the vehicle program would reach 250,000 units a year in 2025:

“I think we’ll end up with roughly a quarter million Cybertrucks a year, but I don’t think we’re going to reach that output rate next year. I think we’ll probably reach it sometime in 2025.”

We are now in 2025, and Tesla is expected to currently be selling the Cybertruck at a rate of about 25,000 units a year – a tenth of what Musk predicted.

Earlier this month, we reported that Tesla began the second quarter with 2,400 Cybertrucks in inventory, valued at over $200 million.

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This is a real problem for Tesla as many of those Cybertrucks are older 2024 model year units not eligible for the federal tax credit, and even some ‘Foundation Series’, which Tesla stopped building in October 2024 – meaning that Tesla is sitting on some 6-month-old trucks in some cases.

Tesla is now offering deeper discounts on the new inventory of Cybertrucks. The discounts can go as high as $10,000, but the average one is closer to $8,000, which is more than the tax credit:

Despite Tesla’s efforts, the automaker has only reduced its Cybertruck inventory by about 100 units since the beginning of the month.

Tesla is now further throttling down production of the Cybertruck at Gigafactory Texas, according to a new report from Business Insider.

According to two Tesla workers speaking with BI, the automaker has reduced its Cybertruck production teams and now operates at a fraction of its original capacity. It also moved some Cybertruck production workers to Model Y production at the plant.

One of the workers said:

“It feels a lot like they’re filtering people out. The parking lot keeps getting emptier.”

As we previously reported, Tesla has been operating all its factories at approximately 60% capacity to avoid building up excessive inventory amid lower demand.

When it comes to the Cybertruck program, it sounds like Tesla is lowering production even further.

Last week, Tesla launched a new version of the Cybertruck in an attempt to boost demand, but it has been poorly received due to the automaker’s removal of many essential features.

Electrek’s Take

There are a lot of other automakers that would have already given up on the Cybertruck ith these results, but not Tesla. Musk is not one to admit defeat easily.

However, Tesla is running out of options.

The new Cybertruck RWD was a desperate attempt, and I doubt it will work. Now, it sounds like Tesla is further throttling down production – virtually confirming that the new trim didn’t help.

The next step would be a complete production pause.

Again, I don’t think Musk wants to admit defeat, but at some point, it’s inevitable.

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