Plus: Zero Raises $120M Amid Turbulent E-Moto Landscape
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What You Need to Know Today
Electric motorcycle maker Zero is in the process of closing a funding round for over $120M, bucking a recent trend of bankruptcies in the e-moto space. Since Zero’s last raise in 2022, several notable players, including Energica, Cake, Fuell, and Sondors, have been cut down by turbulence in the two-wheel EV market. But Zero forges ahead with the help of strategic investors like Polaris and India’s Hero MotoCorp. Rumor has it that the nearly-20-year-old company will use some of the fresh capital to develop its first minibike.
Image Credit: Zero
With so many electric motorcycle companies closing their doors lately, one wonders, does the current battery tech allow manufacturers to deliver enough bang for the buck for range-hungry riders?
Related: In line with rules imposed on the auto industry in 2022, the California Air Resources Board is proposing a new regulation requiring motorcycle manufacturers to offer 10% zero-emission models by 2028 and 50% by 2035.
Meanwhile Harley Davidson’s EV imprint LiveWire sold a paltry 99 electric motorcycles in Q3 2024, which means the company actually brought in nearly 3x more revenue from selling children’s electric balance bikes.
Image Credit: LiveWire
Raleigh, NC is the latest US city to offer its residents e-bike rebates. Eligible individuals can apply for a $500 voucher until November 10. Additionally a $1,500 voucher is available to individuals with incomes of 80% or less of the local median income.
The Australian state of New South Wales will at last legalize e-scooters as part of plan to alleviate congestion.
Japan’s leading shared micromobility operator, Luup, has raised nearly $20M in debt financing. The funds will be used to expand Luup’s e-bike and e-scooter fleet, aiming for a total of 30,000 units by 2025.
Image Credit: Luup
New York City announced more details for a $2M pilot program that allows delivery workers to trade in unsafe e-bikes and batteries for UL-certified alternatives to reduce battery fires.
The UK is expanding e-scooter trial opportunities for cities that haven’t previously participated.
Decathlon’s innovation hub, Decathlon Pulse, is investing an undisclosed sum in e-bike refurbishment company Rebike Mobility.
Image Credit: Rebike
Spanish e-bike subscription company Panot has increased its subscriptions by 150% in the last seven months. Currently operating in Barcelona, Panot aims to expand throughout Spain by 2025, then internationally in 2026.
Among the cycling-related bills recently passed in California, SB 1271 restricts throttles to Class 2 e-bikes only, allowing them a maximum throttle speed of 20 mph, while Class 1 and 3 e-bikes will be pedal-assist only, but can have a walk/start assistance throttle up to 3.7mph. The bill also establishes third-party testing standards like UL 2849 and EN 15194.
Donkey Republic brought in $7.3M in revenue in Q3, a 25% year-on-year increase from 2023. A few days later after filing the news, the Danish shared micromobility operator announced it raised $2.13M in capital to strengthen its balance sheet and cash flow.
Image Credit: Donkey Republic
Does your work involve managing fleets of e-bikes, e-scooters, and the like? This interesting new whitepaper discusses the advantages of combining GNSS modules with a broad range of connectivity options (antenna, RTK correction services, design review) into a “one-stop-shop” solution that could transform your high-precision IoT projects.
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