In the arena of electric motorcycles, Cake, the Swedish innovator known for its sleek designs, faced difficult days with its entry into bankruptcy proceedings in the early 2024 but has since been revived by Norwegian Firm Brages Holding.
However, the story took an unexpected turn when a Florida-based shop named eMoto acquired a substantial portion of Cake’s remaining inventory in the US market.
Brages Holding AS buys Cake
Amid these uncertain times, the buzz of a new buyer emerged, hinting at a potential acquisition of Cake’s assets through the Swedish bankruptcy administration.
Recently, in June itself, those whispers were validated with an official shout out — Brages Holding AS, a Norwegian firm led by Espen Digernes, has taken ownership of Cake’s assets and intellectual property.
Espen Digernes and brand Cake
Digernes, notable for his ventures in the automotive sector with Toyota and Lexus cars in Norway, saw a promising opportunity within Cake.
This was particularly against the backdrop of Norway’s burgeoning electric vehicle (EV) market.
Norway’s EV goals
Norway, a pioneer in EV adoption, has set ambitious goals to end the sale of new internal combustion engine (ICE) cars by 2025, underscoring its commitment to sustainable mobility solutions.
This forward-thinking approach has propelled interest in electric bikes, scooters, and other micro-mobility alternatives in the country.
Digernes’ vision for Cake
Digernes’ vision for Cake’s future emphasises on a strategy to scale the brand through a robust retailer distribution network.
His aspiration is to transform Cake from a notable Swedish initiative into a resounding success story rooted in Scandinavian innovation and sustainability.
Recommitting to Cake EV
Despite Cake’s recent financial hardships, key former team members, including chief technology officer (CTO) Petra Färm, have recommitted to the company under its new Norwegian ownership.
This continuity, combined with the strategic reopening of Cake’s headquarters and brand store in Stockholm, signals a determined effort to reintroduce its acclaimed electric motorcycles to the market.
Challenging road to revival
The road to revival hasn’t been devoid of challenges. Following the bankruptcy, original stakeholders like founder Stefan Ytterborn and investors faced setbacks, showing the complexities of corporate restructuring and financial recovery.
Despite this — with a fresh perspective and revitalised strategy — Cake is poised to reclaim its position as the leader in electric motorcycles.
Cake to connect with consumers
Looking forward, Cake plans to leverage its renowned craftsmanship and design to meet the growing demand for sustainable urban mobility solutions.
By aligning with Norway’s progressive stance on EVs and establishing a strong presence in the Scandinavian markets, Cake aims to resonate with environmentally-conscious consumers seeking innovative alternatives in transportation.
E-Vroooom’s views
As Cake inches towards its resurgence, stakeholders and enthusiasts alike can anticipate further developments in the company’s journey towards sustainability and success in the competitive landscape of electric motorcycles.
Cake must focus on growing its retailer network globally, enhancing brand visibility, and leveraging Norway’s EV market trends.
Innovating with sustainable designs and maintaining high-quality craftsmanship will be crucial for Cake.
Additionally, with Norwegian Firm Brages Holding taking charge of brand Cake, fostering strong customer relationships and adapting swiftly to market demands will aid in its revival.
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