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Rendering of a proposed Oklo commercial advanced fission power plant in the U.S.

Courtesy: Oklo Inc.

Nuclear startup Oklo aims to deploy 12 gigawatts of power over the next two decades through a framework agreement with data center operator Switch, the companies announced Wednesday.

Oklo would deploy what amounts to a fleet of small nuclear reactors through 2044, with power generation equivalent to the annual electricity consumption of more than 9 million households in the U.S.

Oklo would develop, build and operate the small nuclear plants. It would sell the electricity to Switch through a number of power purchase agreements for its data centers across the U.S. Oklo and Switch have not signed any individual power purchase agreements yet.

Oklo’s stock rose more than 10% in premarket trading.

The broad agreement signed by Oklo and Switch is a nonbinding framework that sets high level goals to execute against, Oklo CEO Jacob DeWitte told CNBC in an interview. It creates a vehicle to advance large scale, multi-site power development and deployment, DeWitte said.

Oklo is a startup backed by OpenAI CEO Sam Altman that is developing micro nuclear reactors. Altman is Oklo’s chairman, and the company made its market debut in May through a merger with his SPAC, AltC Acquisition Corp. Oklo has a market capitalization of $2.33 billion.

‘Transformative scale’

Switch is a privately held company headquartered in Las Vegas that designs, builds and operates data center campuses in the U.S. CEO Rob Roy said Switch is committed to deploying advanced nuclear power “at a transformative scale for our data centers” through the relationship with Oklo.

Oklo is developing reactors that are much smaller than those in the current U.S. fleet. Its reactors are expected to range in power capacity from 15 megawatts, to 50 megawatts, to 100 megawatts or more. By comparison, the average reactor in the U.S. is currently around 1,000 megawatts.

The reactors that would service Switch would primarily be 50 megawatts, DeWitte said. Oklo would have to build 240 reactors of that size by 2044 to meet the 12 gigawatt deployment goal.

Oklo thinks its microreactors will reduce the costs associated with building new nuclear plants, slash construction timelines, and give power customers more flexible options.

Oklo has not deployed a reactor yet. The company aims to bring its first plant online at Idaho National Laboratory in Idaho Falls in 2027.

People familiar with the matter told Reuters in September that Switch is considering an initial public offering that would value the company at $40 billion. Switch was taken private by DigitalBridge and IFM Investors for $11 billion in December 2022.

Demand for nuclear power is growing in the U.S. as technology companies and other data center developers search for reliable, carbon-free electricity to power artificial intelligence.

Amazon and Alphabet announced investments in small nuclear reactor technology in October. Microsoft is helping to bring the Three Mile Island nuclear power plant back online through a power purchase agreement.

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Velotric Breeze launched as new cruiser e-bike, bringing comfort and speed

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Velotric Breeze launched as new cruiser e-bike, bringing comfort and speed

The major electric bicycle brand Velotric has just launched its newest model, the Velotric Breeze 1. Part commuter, part cruiser, the Breeze 1 is a fast yet comfortable e-bike intended for those who want a relaxed riding style without sacrificing performance.

Most cruiser electric bicycles are considered to be more of a laissez-faire endeavor, but the Velotric Breeze 1 is hoping to crank things up a notch with fast speeds and high-tech features.

Replacing the traditionally large and swoopy frame is a more accessible step-through design that comes in two sizes to fit a larger range of riders. But while the frame may look different than a classic cruiser, the pedal-forward geometry and swept-back cruiser handlebars definitely evoke true cruiser vibes.

That geometry, including the adjustable angle handlebars, helps give the Velotric Breeze 1 a more upright and relaxed ride.

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But don’t think that just because the Breeze 1 is a relaxed ride, it can’t still bring the performance. A 750W motor offers up to 28 mph (45 km/h) of speed in unlocked mode, though the bike comes with a 20 mph limit right out of the box. To open up Class 3 speeds, users will need to use the settings menu in the color display, where a plethora of other parameters can also be adjusted.

A 48V 13.4Ah battery provides 643Wh of battery capacity, or enough for a claimed maximum range of 75 miles (120 km) in the lowest power pedal assist mode. There are also 15 levels of pedal assist and the ability to choose between the torque sensor or the cadence sensor to activate that pedal assist (and of course throttle mode, for those who don’t want to pedal at all).

While torque sensors are generally more highly praised for their ability to offer near-instantaneous power delivery and more natural feeling riding, some people prefer a cadence sensor since it can be used more like a foot throttle, allowing minimal effort from the rider. By offering the option to choose between the two, Velotric is giving everyone the opportunity to ride the way they prefer.

The battery is IPX7-rated, meaning it can be submerged in up to three feet of water. The rest of the bike is IPX6-rated, allowing owners to pressure wash the bike without worry of water getting inside. Like all of Velotric’s electric bikes, both the battery and the entire bike are UL-certified.

The Velotric Breeze 1 also includes Apple FindMy location tracking, punchy hydraulic disc brakes, bright LED lighting including turn signals, easy-rolling 27.5×2.2 urban tires, a Shimano 8-speed derailleur, and is even rather lightweight for a cruiser e-bike at just 48 lb (21.7 kg).

The seat stay-mounted tail lights are also spread wide on the rear of the bike, allowing the turn signals to function even better as directional indicators for drivers.

The bike lacks suspension, offering a purely rigid fork and frame, but is likely intended for operation on smooth beach paths and other areas without the bumpy terrain that typically begs true suspension.

Priced at US $1,799, the Velotric Breeze 1 was just launched this morning and is already available for order on Velotric’s site. The bike comes in five different colors and two different frame sizes, fitting riders between 4’11 and 6’4″ (150-193 cm).

What do you think of Velotric’s newest e-bike? Let us know in the comment section below, and be on the lookout for our own review of the Breeze 1 coming soon!

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Cartoonish Tesla crashes, Toyota battery deals, and new Chinese hotness

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Cartoonish Tesla crashes, Toyota battery deals, and new Chinese hotness

ACME stock soars on today’s cartoonishly silly episode of Quick Charge, we watch Tesla Autopilot crash into a wall with a painting on it, make the Elon stans look silly when they point out shady behavior from their fearless leader, and toss out the notion that some franchise dealers might help the troubled EV brand make more sales in red states.

We also cover Toyota as it moves to position itself for global battery dominance by suppling batteries to more than 400,000 electrified Honda vehicles per year, plus an upgraded Xpeng G6 electric SUV that makes everything on this side of the Pacific look positively plebeian. All this and more, enjoy!

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

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Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.

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Tesla already starts to offer 0% interest on new Model Y in China – showing weak demand

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Tesla already starts to offer 0% interest on new Model Y in China – showing weak demand

Tesla has already started offering 0% APR on loans for the new Model Y in China, showing a clear sign of weak demand.

We recently reported that Tesla is under increased pressure from competition in China, the world’s largest EV market.

The Tesla Model 3 was recently surpassed in sales by the Xiaomi SU7 in a record short period from starting production. The SU7 not only outsells Model 3 in China, but Xiaomi’s electric sedan has a 31-34-week-long order backlog compared to just 1-3 weeks for Tesla’s.

Last month, Tesla started offering a new RMB 8,000 ($1,100 USD) insurance subsidy and 0% loans on new Model 3 orders.

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Tesla didn’t apply these same offers to new Model Y orders because Tesla enjoyed more demand for the vehicle due to the launch of the Model Y refresh, and the production launch limited the supplies.

However, we also noted that reports of more than 200,000 orders for the new Model Y were exaggerated and the current delivery timelines pointed to soft demand for the new Model Y.

We noted that a good indication of when Tesla is running out of the backlog of orders, which was opened in January, for the newly delivered vehicle would be if Tesla brings back financing incentives on the Model Y.

Today, Tesla announced that it was bringing back the 0% interest loans on the base version of the new Model Y:

The Model Y RWD is by far Tesla’s best-selling car in China and Tesla is now offering up to 3 years at 0% for a 30% down payment and some discounted rates for a smaller down payment.

The incentive starts now and up to April 30. Tesla wrote:

If you purchase a Model Y rear-wheel drive version from March 18, 2025 to April 30, 2025 and pick up the car before the order expiration date according to the delivery and payment terms in the order, eligible customers can apply for the following financial preferential plans:

Tesla currently quotes “2-4 weeks” as a delivery timeline for new orders for the new Model Y RWD, and 6-10 weeks for Long Range AWD.

The Long Range appears to enjoy a bit more demand. Tesla even slightly increased the price by RMB 10,000 yuan ($1,380).

Electrek’s Take

It’s important to consider that Tesla is believed to be selling a mix of RWD vs AWD around 3 to 1 or even 4 to 1. Therefore, any change in pricing and subsidized loans to the Short Range RWD would have a massive impact on Tesla.

I have to say, I’m surprised. I suspected Tesla would have some issues selling the new Model Y in the second half of the year after some excitement for the new version wore off and competition like the Xiaomi YU7 would arrive, but I didn’t think it would come so fast.

Even if this is because Tesla was able to ramp up production of the new version faster, which could mean more deliveries in Q1, the fact that they are already discounting them is a terrible sign of demand.

I didn’t have high hopes for Tesla’s prospects in China in 2025, but even I thought this would not come for another 3-5 months.

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