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I think that's the same model I have. The "24 volt battery" is actually two 12 volt batteries wired together, and yes, the controller is just on-off, no speed control.
I like mine just fine: even though my property size is much more than 1/3 acre, not that much of it is lawn. It's nice not to have to mess with pull starting or gas cans - I've probably saved half the price just from the neighbors' kids not being able to "borrow" gas from me.
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