With the advent of electric mobility, we have seen the arrival of new players in the world of cars as well as in the world of two-wheelers. The number of new electric cars has multiplied, as have their manufacturers, and the first months, even the first years, have been encouraging on many levels for these new products.
In addition to the fact that once faced with the first difficulties, some people break their teeth quicklyand this is what we have been seeing for several months with the economy slowing down.
Electric motorcycles, this ruthless universe
This was particularly the case in Sweden with one electric two-wheeler manufacturer that we found to be quite reliable. Cake, one of the industry pioneers, has financial difficulties. The company, founded in 2016 by Stefan Itterborn, has just declared bankruptcy, despite recent attempts to raise funds. The news, made public on the front pages of various Swedish media, appeared a few days after the announcement of the imminent market entry of the brand’s most efficient motorcycle called Bukk. There will be some doubts about the possibility of seeing this motorcycle one day on our roads or elsewhere.
Cake founder Stefan Itterborn explained in an interview with Dagens Industri 1Er in February that the company had been unable to find the necessary funds in recent months to continue its expansion. Despite the recent announcement of expansion in Europe, particularly in the Czech Republic, Cake’s future seems uncertain right now.
Investors who are too cautious?
Investors’ reluctance is questionable, especially given Cake’s position as a pioneer in the electric two-wheeler market since launching its first model, the Kalk motorcycle, in 2018. Although the distinctive design of their motorcycles is controversial, it was not enough to convince. investors for full support of the company. We also emphasize that, given the economic context, these same investors are also perhaps a little more cautious. Cake currently employs around 140 people in Stockholm, Los Angeles, New York, Milan and Paris.
Reports indicate that some workers were not paid last week.
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Source: Auto Plus
Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.