Half ebike, half automotive, the Podbike Frikar was a wild stab at the way forward for transportation. Cory wrote about Podbike’s Frikar again in 2021, which was a collaboration with German bike firm, Storck. Now slightly below 4 years later, it seems that the Norwegian electrical bike producer has filed for chapter. The choice comes on the heels of a protracted interval of “monetary constraints”. These have impacted Podbike’s potential to develop the corporate right into a worthwhile enterprise.
‬Podbike is a Norwegian firm devoted to creating revolutionary electrical bikes, just like the Frikar. They supplied sustainable and sensible options to conventional modes of transportation. With an apparent deal with design, effectivity, and environmental influence, Podbike’s purpose was to make city mobility extra accessible and sustainable. It additionally supplied a very enclosed cabin – the reply to these “what about when it rains!?!” questions from biking naysayers.
Finacial Struggles
Podbike gathered a loyal buyer base and skilled intial success. However the firm confronted important monetary challenges over the previous 12 months. A combo of accelerating manufacturing prices, provide chain disruptions, and the “world financial slowdown” resulted in lower-than-anticipated gross sales numbers. Add the burden of mounting operational prices, and the efforts to pin down further funding by funding rounds and partnerships weren’t sufficient to bridge the monetary hole.
It was after “thorough consideration and session with monetary advisors, Podbike’s board of administrators concluded that submitting for chapter was probably the most prudent plan of action.”
Clearly, the chapter goes to have important repercussions for the corporate’s staff and clients. Podbike has made it a precedence to decide to help and clear communications throughout the transition.
From Podbike’s CEO
â€â€ťWe’re deeply saddened to make this announcement,” stated Bernt Rosli,‬ CEO of Podbike, and continues, “Our group has labored tirelessly to deliver‬ â€revolutionary options to the market, and we stay happy with our‬ achievements. We might additionally wish to take this chance to increase an enormous‬ thanks to our traders, clients, and dependable supporters. Their perception in‬ us made every little thing potential – and whereas we didn’t attain the vacation spot‬ we envisioned, we’re deeply grateful to have shared this journey with them“.‬
