Tag Archives: Cake

News

Cake Motorcycles Files For Bankruptcy In Sweden: Report

It’s been a tough time for Cake Motorcycles recently.

In January 2024, we reported a National Highway Traffic Safety Administration safety recall on some Cake Kalk dual sport motorcycles with battery cells that could potentially catch fire. At the time the recall was reported, Cake’s documentation mentioned that its plan was to have alternative batteries out there to affected prospects later down the road in 2024.

While we will not say for positive that plan will not work out, we can say that issues look decidedly murkier than they may have final month.

On February 1, 2024, a number of Swedish enterprise information retailers reported that Cake Motorcycles is within the technique of submitting for chapter. RideApart has reached out to Cake Motorcycles for remark and can replace this piece with any response we obtain.

Cake x Vattenfall - Cleanest Dirt Bike Ever

Cake x Vattenfall: Cleanest Dirt Bike Ever undertaking, which the 2 firms started collectively pursuing in 2022.

What Went Wrong?

Multiple elements added up directly, in response to what Cake CEO Stefan Ytterborn instructed the Swedish monetary newspaper Dagens Industri. The most up-to-date blow got here within the type of failed negotiations for Cake’s most up-to-date spherical of funding, which apparently fell by means of utterly on January 31, 2024.

Fellow Swedish enterprise publication Breakit reported on January 24, 2024 that Cake’s monetary state of affairs was so dire that it could not pay salaries for its roughly 139 workers.

“It is not one but several circumstances that have caused us to end up in this situation. Climate issues are no longer in focus, we are in a recession. It’s about us, but it’s also about the venture capital ecosystem. At the moment it is completely dead, there are no takers in the later phase Cake is in,” Ytterborn instructed DI.

One of these elements, in response to Ytterborn, was the belief which you can’t count on folks to pay 40,000 Swedish Krona (that is about $3,811 USD at present conversion charges) for one thing on-line that they have not ridden. The firm’s preliminary direct-to-consumer web site gross sales plan, he mentioned, could be extra probably to attract buyer curiosity if they’d higher alternatives for check rides. 

By 2023, there have been a better variety of client (not enterprise fleet) gross sales, thanks partially to creating the bikes extra accessible for check rides of their current markets. Still, the corporate bought round 6,000 bikes final yr in complete. It estimates that it will not obtain profitability till it could possibly promote 7,500 to 10,000 bikes a yr, on the very least.

Cake reportedly additionally has six completely different share courses for traders, with differing guidelines about which courses get dividends earlier than different courses. This disincentivizes potential shareholders from wanting to affix a decrease class that’s much less more likely to obtain dividends.

Swedish Companies Registration Office Confirms The Filing

Cake Motorcycles Bankruptcy Proceedings Initiated - Swedish Companies Registration Office Screenshot captured February 2, 2024

Cake Motorcycles Bankruptcy Proceedings Initiated – Swedish Companies Registration Office Screenshot captured on February 2, 2024

A public data search reveals that chapter proceedings for Cake formally started in Sweden on February 1, 2024. It’s not but clear how this story will play out, as a result of the proceedings are nonetheless in progress.

What we are able to let you know is that DI studies six entities as the most important shareholders within the firm. They are:

Shareholder Percentage of Cake Motorcycles Owned
AMF (Swedish pension firm) 11.3%
Stefan Ytterborn, Cake CEO 10.4%
Creandum (Swedish enterprise capital firm) 10.4%
Back in Black Capital 9.3%
Headline (American VC agency) 9.2%
Rutger Arnhult 6.4%

For a radical rundown of the corporate’s financials, together with its losses, the DI piece is value a learn (keep in mind, we’re RideApart, not FinanceApart).

At the time of writing, Cake has but to difficulty any official assertion relating to any of this information. The most up-to-date official assertion out there on Cake’s web site was posted on January 25, 2024, and regards the corporate’s proud announcement of a brand new distribution community for its bikes within the Czech Republic.

RideApart will proceed to report any info we study, together with any official statements from Cake as they come up.

News

New Cake Bukk E-Dual-Sport Starts Making Its Way To Eager Customers

Swedish electrical mobility model Cake is all about preserving the enjoyment of the two-wheeled way of life, whereas producing improvements that pave the best way for the way forward for mobility. Its award-winning two-wheelers such because the Osa and the Kalk have confirmed that the model’s bought what it takes to be a significant participant within the mobility sector, and now, the model takes this a step additional with the Bukk electrical twin sport, which has now begun deliveries in sure markets.

The extremely anticipated Bukk serves as Cake’s foray into the favored dual-sport section, preserving roadgoing practicality whereas providing spectacular off-road functionality. The first cargo of the Bukk, alongside the Limited Edition fashions, has begun deliveries, and full-scale manufacturing of the Bukk is slated for the spring of 2024.

CAKE Bukk - Front, Right

When it involves efficiency, the Bukk units a brand new normal on the subject of light-weight e-enduros. Tipping the scales at simply 196 kilos, Cake says that the Bukk is the proper mix of light-weight design, all-terrain sturdiness, and reliable efficiency. It’s powered by the model’s “Jante” motor, which is an Internal Permanent Magnet (IPM) motor with a torque score of 456 Nm (337 pound-feet) of torque. Thanks to this spectacular quantity of energy, Cake claims a zero to 28-mile-per-hour dash of simply 2.15 seconds.

To complement the spectacular powertrain, the Cake Bukk will get a light-weight chassis and absolutely adjustable suspension that is available in two packages – WP and Formula. With these, Cake caters to quite a lot of driving preferences, in addition to of us with various budgets. The bikes may also be configured both solely for off-road use, or for each avenue and off-road purposes.

In Cake’s official press launch, firm founder and CEO Stefan Ytterborn expressed his pleasure for the launch of the Bukk. “Establishing a new category takes time. I feel encouraged to see that the market starts to adapt and understands that the future of riding is lightweight. With the Bukk platform, we’re bringing unmatched light electric performance into the hands of our riders, it creates so many new riding opportunities and it sets the next chapter in lightweight electric off-road motorcycling history,” he acknowledged.

CAKE Bukk - Jump

On high of that, testimonials from the likes of Mike Giese, the 2022 Cake Worlds Champion and ex-professional motocross racer, echoed Ytterborn’s statements. “The new bike was quite the experience. The added power and increase in suspension created a brand-new riding experience. You could go faster, jump further and ride the new bike on larger tracks. The geometry and ride felt closer to a motocross bike, further closing the gap between the Kalk and a traditional motocross bike. I am very much looking forward to seeing people’s reactions to this new bike.”

Like all of Cake’s improvements, the Bukk is on no account low cost. Currently open for pre-order and customization by way of Cake’s official web site, the Bukk instructions fairly a hefty MSRP of $11,070 USD. More info and configuration choices for the brand new Bukk, in addition to the remainder of Cake’s lineup, is out there by way of their official web site.

News

Recall: Some Cake Kalks Could Have Battery Cells Fail And Catch Fire

Cake 0 Emission USA Incorporated, which is Cake Motorcycles’ American department, issued a security recall for sure 2018 via 2023 Cake Kalk&, Kalk Ink&, and Kalk :work bikes as a consequence of a possible battery security situation.

On affected bikes, lithium ion battery cells with particular chemical compositions may fail throughout charging. This, in flip, may result in smoke, and probably additionally to the battery catching hearth. 

Approximately 264 items may doubtlessly be concerned on this recall, which represents about 50 % of the inhabitants in response to Cake’s information.

The affected Kalks had been produced between January 1, 2018 and November 1, 2023. Their VINs vary from YW2C1M108KT000001 to YW2C1M104PT002060 and will not be sequential.

Under Description of the trigger, Cake’s official recall report reads:

“Cells in certain Cake Kalk battery packs have slightly different chemical composition and can be pushed outside their operating range in certain rare cases, which can lead to cell failure. These potential failures will happen during charging.”

As for any warning indicators that this situation exists with a Kalk battery, Cake lists “abnormal battery behavior, including failed charging, significantly reduced range, and power cut-off while driving.” 

According to the official Cake worldwide chronology of this drawback, the corporate acquired a report in October 2023 of an unbiased Cake seller in Seoul, South Korea having a Kalk catch hearth whereas charging. An investigation involving Cake and the native hearth division tore down the battery concerned and carried out an evaluation. It then started figuring out all batteries which have the identical cells.

As of December 29, 2023, Cake 0 Emission USA says that it has not acquired any guarantee claims or experiences associated to this situation within the US.

What’s Involved In The Recall Remedy

According to Cake, the recall will contain changing the present lithium ion battery in affected Kalks with a unique one which makes use of battery cells with a unique chemical composition. These batteries ought to turn out to be accessible in March 2024.

In the meantime, Cake plans to ship interim notification letters to homeowners on or earlier than January 12, 2024. Owners might be requested to test their battery’s serial quantity to find out whether or not it’s a unit affected by this recall. 

In the occasion {that a} buyer’s battery is affected by this recall, Cake has interim charging directions for these clients to observe till the substitute battery packs can be found. 

Once the substitute battery packs can be found, Cake will ship a second letter to let clients know that the substitute battery packs have arrived. The firm will even present directions to interchange the prevailing battery pack, in addition to for disposal of the previous battery pack. 

Owners might contact Cake customer support by way of electronic mail at service@ridecake.com. Owners might also contact the National Highway Traffic Safety Association Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153) or go to www.nhtsa.gov. 

Motorsport

The New McLaren GTS Adds Horsepower And Loses Weight

A sensible supercar? When the GT launched in 2019, McLaren needed you to have your cake and eat it, too. For 2024, it is giving the grand tourer its first main refresh with the brand new GTS mannequin, a alternative that comes with an array of enhancements.

For instance, now you can carry the nostril of the automotive in simply 4 seconds, which is twice as quick as earlier than. You additionally get 14.8 cubic ft of cargo space by opening the electrically operated glass tailgate with a soft-close perform. Another 5.3 cubic ft of storage can be found within the entrance trunk for a complete baggage capability of 20.1 cubic ft.

2024 McLaren GTS

McLaren says the GTS is essentially the most sensible supercar cash should buy. It has carbon ceramic brakes and adaptive dampers as commonplace gear. In addition, floor clearance varies from 4.3 to five.1 inches relying on whether or not the carry system is energetic or not.

The new-for-2024 GTS remains to be a correct supercar, although – and it is much more highly effective than earlier than. McLaren massaged the twin-turbo 4.0-liter V8 to unlock an additional 14 hp for a grand complete of 626 hp. In addition, 22 kilos of fats have been eliminated, which implies the curb weight is now 3,351 kilos. It will get a brand new roof panel made out of recycled carbon fiber together with a rear higher construction made out of carbon fiber as effectively.

Contributing to the eating regimen are optionally available titanium lug nuts which are 35 p.c lighter than the usual wheel bolts. You can have them with the usual 10-twin-spoke cast alloy wheels or the brand new 10-spoke “Turbine” light-weight wheels. Both units include totally different finishes and bespoke Pirelli P Zero tires. This Lava Grey paint makes its debut with the GTS, as do the Softgrain Aniline leather-based seat upholstery with distinction stitching and a double-piping sample.

2024 McLaren GTS
2024 McLaren GTS

Despite its GT-focused nature, the on a regular basis McLaren remains to be immensely fast. It does 0 to 60 mph in 3.1 seconds, 0 to 124 mph in 8.9 seconds and tops out at 203 mph. That V8 nonetheless produces 465 pound-feet of torque delivered through a seven-speed SSG (sequential shift gearbox).

McLaren is already accepting orders, and whereas the pricing is not talked about, the defunct 2023 GT value $208,490 earlier than choices.

News

Recall: 2020-2022 Cake Osa Flex Mopeds Could Have Steering Column Break

On November 28, 2023, Cake 0 Emission USA Incorporated issued a security recall for all 2020 by 2022 Osa Flex Mopeds which were offered within the US.

The concern pertains to the aluminum steering column these bikes got here outfitted with, which might probably “become fatigued over time and, in certain cases, can shear when subjected to a hard impact,” in line with the recall report. This might, in flip, probably lead to a crash for the rider.

According to firm information, roughly 154 Osa Flex Mopeds could possibly be concerned, which represents 100% of the inhabitants. The affected bikes have been produced between December 16, 2019 and May 29, 2023. The Cake Osa line contains a number of variants, of which the Flex moped is just one.

Cake’s reported chronology includes a buyer e mail referring to an incident with a Cake Osa Flex moped after hitting part of highway that was in critical disrepair. Upon investigation, Cake’s service and engineering workforce recognized no manufacturing defects within the steering column, however continued to research additional. At the time it filed this recall, the corporate stated that it had acquired no reviews of crashes or accidents associated to this concern within the US.

Notifications to house owners have been deliberate to start out being despatched through first-class mail on November 30, 2023. The recall service will contain changing the aluminum steering column that shipped with these bikes with a brand new model that’s fabricated from stainless-steel as a substitute. 

At the time of writing, Cake lists a complete of 13 retailers that service its bikes and are positioned within the US. Most of those retailers are positioned on both the West or the East coast, with one further location in every of the next states: Wyoming, Texas, and Florida. 

Because sellers is probably not native to prospects, Cake notes in its recall report that it might both ship a technician to the client to carry out the restore, or else organize to ship the recalled bike to a licensed service middle. Furthermore, Cake says that it “expects to be able to identify a dealer to perform a repair within 14 days of customer contact,” and in addition “to have a repair scheduled and completed within 30 days of identifying the dealer.”

Owners might contact Cake Customer Service at service@ridecake.com. Cake’s official quantity for this recall is OSA FLEX MC0327. Additionally, house owners might contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153) or go to www.nhtsa.gov.

News

Cake Electric Motorcycles Coming to China in 2024

Cake, a Swedish e-mobility specialist, has a range of electric motorcycles that cater to different riding styles. It offers the off-roader called Kalk, as well as utility-focused machines like the award-winning Ösa. While Cake has already established a presence in various parts of Europe and the US, its next target is the Chinese market. Despite the saturation of small electric motorcycles in China, Cake sees great potential and has partnered with Shanghai Forever, a prominent bicycle retailer in China with over 80 years of experience.

Cake Makka - Riding - Right Side

As part of the partnership, Cake plans to sell 130,000 electric motorcycles in China. If these bikes are well-received, even more will be imported into the Chinese market. Additionally, Cake has hinted at a new model that is being developed exclusively for China. While no details have been revealed yet, the bike is expected to launch in the second half of 2024. Based on the teaser image, it appears to be a compact scooter with a step-through frame.

Cake Kalk OR RACE Wheelie

The CEO and founder of Cake, Stefan Ytterborn, mentioned that the Chinese market offers significant potential. He stated that the partnership with Shanghai Forever allows Cake to roll out high-quality, long-lasting vehicles and contribute to the electric wave in China. Chen Shan, CEO of Shanghai Forever, expressed similar sentiments about tapping into the opportunities available in the Chinese market and their excitement to reveal what they have planned.

Cake’s electric motorcycle lineup is set to debut in China by November 2023. The company is also eyeing expansion in other parts of Europe and South America.