28 • April 2024 • Powersports Business

Michael Joyce , managing partner of Emoto , an e-bike dealership in St . Petersburg , Florida , told tech startup website TechCrunch that he bought out all the inventory of recently bankrupt Swedish e-bike maker Cake .

The bikes that were purchased included the Makka and Ösa , which were Cake ’ s U . S . inventory . Joyce also purchased all the accessories and spare parts . However , he didn ’ t buy any of the Kalk electric motorcycles , as those have been recalled for battery and steering column problems .

Joyce told TechCrunch that he hopes to help revive the Cake brand with the purchase , or at least buy his dealership time until he can find another premium brand as a replacement . “ The last thing that I want as a dealer is the consumer left alone and not having confidence in the brand ,” Joyce says .

Joyce reports that he is working with Bloom , a micromobility company , to warehouse the inventory and ship the bikes to customers around the country .

Cake quietly filed for bankruptcy in February after failing to raise a Series C funding round . Cake founder and CEO Stefan Ytterborn reportedly tried making a deal with

Harley-Davidson and traditional automakers after their funding options dried up .

Cake ’ s bankruptcy was a surprise to many , including Joyce , whose dealership is built around the brand . He says that the inventory acquisition gives him about 6-12 months to find other e-bike brands to work with .

Joyce opened Emoto last year and struggled to sell Cake bikes in the beginning until he worked out a deal to sell their products on consignment . He told TechCrunch that it helped fill out his retail space having fully assembled bikes on the show floor with all of the accessories on them .

“ Having the bikes fully assembled in front of [ customers ] with accessories makes a big difference ,” he says in the report . “ Pointing at it and saying , ‘ this can be yours ’ – it was something beneficial .”

The rise and fall of some electric motorcycle and e-bike companies has been dramatic in the past few years . Cake came in with great fanfare and was identified as one of the world ’ s most innovative companies by Fast Company in both 2020 and 2021 and received Time Magazine ‘ s 100 most important inventions award in 2021 .

Michael Joyce of Emoto has purchased the U . S . inventory of bankrupt e-bike maker Cake . Photo courtesy of Hannah Elliott / Bloomberg

Brembo , a braking systems manufacturer , has opened its first production site in Thailand . The investment , totaling about $ 43 million ( USD ), reflects the group ’ s strategy to expand its industrial presence globally , and allows Brembo to seize new growth opportunities in the Southeast Asian region .

The new site will manufacture braking systems for motorcycle OEMs around the world , starting with European and American

Brembo ’ s Thailand production site will manufacture braking systems for motorcycle manufacturers in Thailand , starting with European and American producers .

producers . The production site will be located in the motorcycle industry hub of the country , the Rayong province , south of the capital Bangkok . Once fully operational , the Brembo site will employ around 150 people .

“ The opening of the new production site in Thailand is a crucial step in our global expansion strategy ,” says Daniele Schillaci , CEO of Brembo . “ We strengthen our position in the key two-wheeler segment and consolidate Brembo ’ s role as a solution provider for our customers operating in the country . With this investment , we lay the groundwork for further developments of our business in the ASEAN region .”

On February 16 , the local groundbreaking ceremony marked the commencement of construction work . The site is expected to be operational in the first quarter of 2025 and will be almost 56,000 square feet on about three acres , expandable up to 311,000 square feet to facilitate future expansions .

This project complements Brembo ’ s recent investments in the motorcycle market , including the acquisitions of SBS Friction in Denmark and J . Juan in Spain between 2020 and 2021 . These acquisitions have enabled the group to enhance its product offerings dedicated to two-wheelers . The motorcycle business currently accounts for approximately 13 percent of Brembo ’ s overall revenues .