July 11, 2023

🇮🇳 Gogoro’s $1.5B Deal with India

Plus, Colorado ends limits on ebike vouchers, VanMoof seeks bridge funds, and Bolt aims for IPO in 2025.

In case you were OOO and missed it, our Independence Week sale is still going strong. If you’re planning on attending Micromobility America in the SF Bay Area this Oct 19-20, why not book now and save almost 75% on tickets? But you better fast. This deal ends tonight at midnight (July 11).

Shop the Sale: Book Tickets

Come join us for two jam-packed days of presentations, product launches, award shows, test rides, networking events, and more, all laser-focused on the future of transportation by small electric vehicles.

It’s hard to believe it’s been a month since Micromobility Europe. If you weren’t able to attend the Amsterdam summit, we’re happy to report that you can now replay many of the amazing sessions on our YouTube channel - with more videos being added daily.

By far one of our favorite discussions was the “Fundraising & the Power of the Ecosystem,” which focused on how global collaboration can foster the growth of micromobility startups, not only in terms of leveraging funding opportunities, but also access to networks, business development leads, and pilot opportunities. We want to give a special shoutout and thank you to EIT Urban Mobility for helping organize this invaluable exchange between founders, investors, incubators, and other key stakeholders. 

“The Micromobility Europe event was a great opportunity for us to engage with the micromobility ecosystem, in particular investors, startups and their suppliers. A well-needed deep-dive into the latest developments in our industry, and a necessary gathering for our portfolio startups and fellow investors. A very fruitful collaboration for us.” - Fredrik Hanell, Director, EIT Urban Mobility.

Check out EIT Urban Mobility’s programs and investment opportunities for startups here.

What You Need to Know Today

India’s electric moped sales dropped 56% in June, marking a major reversal in trends for the South Asian country. The sudden hit is likely caused by a reduction in state manufacturing subsidies, which has forced many companies to raise prices. 

… that doesn’t seem to be slowing down Gogoro, though. The Taiwan-based moped company just entered a $1.5B “mega deal” with the Indian state of Maharashtra to manufacture vehicles, batteries, and swapping stations in the cities of Pune and Aurangabad over the next eight years.

Harley-Davidson is undaunted as well. The company’s CEO says India could become a global motorcycle manufacturing hub

This week on Ride On! the giveaways continue. You can now enter for your chance to win the Vela 2 ebike on our website. Plus, our giveaway with Lectric is still happening, meaning the free XP Lite is still up for grabs. Don’t miss out! 

Troubling news from the Netherlands: Cult ebike brand VanMoof has paused sales and some of its top execs are departing. The company has yet to release an official statement on the abrupt changes, but sources say that they are trying to secure a bridge round to keep the business afloat. 

More tough news from Europe: After several bouts of layoffs and lawsuits, US-based D2C ebike seller Rad Power has announced that it will be pulling out of the European market by 2024, opting to focus its efforts entirely on North America.

Google Maps is said to be turbo-charging its MaaS platform, “m+,” which integrates navigation and booking for multiple transportation services (including many shared micromobility providers) into a single app. While the concept of MaaS is nothing new, Google has a serious leg up due to the nearly 1B people who use Google Maps every month.

When an ebike catches fire, errors in battery pack design are often to blame. Some of the most common reasons include counterfeit cells, inadequate cell spacing, inadequate cell protection, and lack of balancing.

Superapp Bolt aims to be profitable in the next 12 months and has its eyes set on an IPO in 2025. The Estonian TNC, which operates ride-hail, food delivery, car rentals, and other services, claims 12 million micromobility customers across 260 cities across Europe. 

We are aiming for sales of $100 million this year.” How Swing's franchise model allowed it to become one of the few profitable shared micromobility companies in the world, with over 100,000 vehicles in South Korea. 

By contrast, CEO Wayne Ting says Lime’s pathway to profitability involved investing in more durable, modular scooters as well as better technology for operational crews.

Quantum, the first EV manufacturer to emerge out of lithium-rich Bolivia, is betting on tiny cars, not SUVs and pickups.

Amsterdam’s city leaders say they want to see more shared cargo bikes, mopeds, and cars on the street in an effort to reduce car usage. 

First pioneered by the Austrian city of Graz, the “City 30” model, in which municipalities lower speed limits to 30 km/h, is now taking off in Brussels, Bologna, and other European metros. 

Do late-night speed limits for scooters actually reduce injuries? Apparently not. A new study of hospitalization records from Finland finds there was no reduction in the incidence of injury with a lowering of nighttime speed. Maybe cities should try slowing down cars if they want to keep scooter riders safe…

In a bid to tackle truck congestion and prevent package theft, New York City is set to launch free-to-use package lockers at 15 locations across the city. The introduction of sidewalk lockers will establish a network of centralized delivery sites for packages, minimizing the need for trucks to make individual stops at each door.

Indian electric moped startup Vegh has raised $5M in pre series funding, which will support the company’s manufacturing, sales, and distribution networks. 

Columbus, Ohio is now piloting an ebike subsidy. Up to 150 residents will be awarded a rebate worth between $500-$1200, which can be redeemed at qualifying retailers

In Colorado, demand for ebike vouchers far exceeds supply, which is why next year the state will break new ground by foregoing any limits in the number of ebike rebates available. “It will be as easy as going online, or finding your nearest retailer and flashing your Colorado ID.”

This week on The Micromobility Podcast, Oliver interviews Rich Pleeth, founder of Finmile, a micromobility first freight company in London that uses four wheeler cargo e-bikes to deliver for companies such as HelloFresh. Listen in.

Copenhagen is set to begin installation of special racks for cargo bikes, called “pq” racks, at bus stops.

The UK is lagging behind the rest of Europe in adopting a series of tech-enabled pedestrian safety measures, including enhanced direct vision in HGVs, automated emergency braking systems, lane departure warning, and intelligent speed assistance, that “have the potential to surpass even the casualty savings achieved by seat belts, with an estimated saving of 1,762 deaths and 15,612 serious injuries in the UK.”

Browse the best jobs in micromobility—and post your own—on our Jobs to Be Done board.

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