CAKE electric motorcycle maker in trouble. How about Israeli customers?

One year post-launch in Israel, CAKE, unable to pay salaries post-fundraising failure. Importer supporting customers with ample spare parts stock.

  (photo credit: Manufacturer's Website)
(photo credit: Manufacturer's Website)

The combination of a cooling capital market and the atmosphere surrounding electric vehicles raises doubts about the survival of one of the interesting manufacturers in the field: Swedish CAKE, producing uniquely designed motorcycles.

The Fullgaz website reported that the company filed for bankruptcy this week after being unable to pay its employees. Established in 2016, the company has raised 74 million dollars since, produces five models based on quality components from well-known suppliers such as Ohlins for suspension shocks and Northvolt for batteries, with their main feature being clean, unique, and modern design.

Israel was one of the first countries outside of Europe and North America to which the brand, launched a year ago by the importer NOICE, arrived. In Israel, four out of the company's five models were sold at prices ranging from 43 to NIS 68,000, suitable for an A2 driving license. Since then, 31 units of the manufacturer have hit the roads, most of which were sold to customers.

Last month, a planned recruitment round of CAKE failed, which is still defined as a start-up, and had to simultaneously fund two recalls. Now, he is trying to find new owners who believe in exclusive, expensive motorcycles with challenging designs.

From NOICE it was reported that the company is in contact with the company's management and the trustee appointed to it. In the coming weeks, a tender for the purchase of the company is expected to be published and there are already interested parties. Update the customers in Israel. There is a large stock of spare parts and if needed we will know how to come to arrangements with them.