Following its bankruptcy declaration in February 2024, the future of Swedish electric moped and motorcycle manufacturer CAKE was uncertain. However, Norwegian investment firm Brages Holding AS has stepped in to acquire the brand’s intellectual property, injecting new life into the innovative company. A fresh team, including key figures from the original CAKE organization, is now charting a course for the brand’s resurgence in the competitive electric vehicle market, with a strong focus on continuing CAKE’s legacy in the Cake Bikes sector.
Espen Digernes and the new CAKE team, ready to revitalize the electric motorcycle brand.
Espen Digernes, owner of Brages Holding, explained the motivation behind the acquisition: “As a car dealer in Norway, we have witnessed the rapid consumer shift towards electric vehicles. We anticipate a similar acceleration within micro-mobility, encompassing scooters, mopeds, and cake bikes. Having been a CAKE retailer, we were deeply impressed by their product design, build quality, and brand story. Our aim is to nurture and expand CAKE, building a robust retail network and transforming this Swedish innovator into a leading Scandinavian success story.”
Espen Digernes, owner of Brages Holding, highlighting the vision for the future of CAKE electric bikes.
Since the acquisition in March, the new CAKE team has been diligently crafting a strategic business plan. The ambition is clear: to dominate the premium electric two-wheeler market within select regions. This strategy will be underpinned by maintaining the passion and dedication of the CAKE team and its loyal community of riders who appreciate the unique appeal of cake bikes.
At the heart of this revival is a dedicated core team, crucially including key personnel from the original CAKE operations. This team is focused on developing high-performance electric vehicles with distinctive designs that resonate with customers and drive progress towards a zero-emission future for urban mobility. Leading this team is Petra Färm, CAKE’s former CTO.
Petra Färm, former CTO and leader of the core team, steering CAKE towards a profitable and sustainable future.
Petra Färm shared her perspective on the future: “It’s an honor to guide CAKE into this new chapter. The company was on the cusp of significant achievement, yet strategic adjustments were necessary. I believe we now have a real opportunity to refine these areas and steer CAKE towards profitability. In assembling the new core team, we found an enduring passion for the brand. CAKE has always stood apart, and we are committed to preserving that uniqueness. Our cake bikes are engineered for durability, with meticulous attention to every detail. CAKE’s brand strength and premium products provide a solid foundation for us to become a key player in the transition to sustainable urban mobility solutions.”
The dedicated CAKE core team committed to producing high-performance, uniquely designed electric bikes.
The CAKE headquarters and brand store in Stockholm have reopened, staffed by the core team. Existing inventory of cake bikes are available for purchase, signaling the brand’s operational restart and commitment to serving its customer base once again.
