In a surprising turn of events for electric vehicle enthusiasts, CAKE, the Swedish manufacturer celebrated for its innovative and lightweight electric mopeds and motorcycles, is charting a new course after declaring bankruptcy in February 2024. Norwegian investment firm Brages Holding AS has acquired the brand’s intellectual property, injecting fresh hope and resources into the beloved electric bike company. A newly assembled team, including key figures from the original CAKE organization, is now steering the brand towards a promising future, focusing on strategic growth and reaffirming CAKE’s position in the premium electric two-wheeler sector.
New Cake Team – THE PACK – Electric Motorcycle News
Espen Digernes, owner of Brages Holding, articulated the vision behind the acquisition, stating, “As a car dealer in Norway, we’ve witnessed the rapid consumer shift to electric vehicles. We anticipate a similar acceleration within micro-mobility, including electric bikes, scooters, and mopeds. Our initial experience as a CAKE retailer deeply impressed us with their product design, build quality, and the compelling brand narrative.”
New Cake Team – THE PACK – Electric Motorcycle News
Brages Holding’s ambition is to nurture and expand CAKE, transforming it from a notable Swedish venture into a dominant Scandinavian success story through strategic retail network development. Since finalizing the acquisition in March, the new CAKE leadership has been diligently crafting a strategic business plan. This plan is designed to capture a leading share of the premium electric two-wheeler market in select geographical areas. Crucially, the strategy aims to preserve the passion and dedication that define the CAKE community, both among its loyal riders and the committed CAKE team.
Currently, a focused core team, incorporating essential personnel from the former CAKE operations, is dedicated to developing high-performance, uniquely designed products. This commitment to innovation propels CAKE’s mission towards a zero-emission future for urban mobility. Leading this team is Petra Färm, the former CTO of CAKE, who brings invaluable experience and continuity to the revitalized company.
New Cake Team – THE PACK – Electric Motorcycle News
Petra Färm shared her perspective on the future: “It’s a privilege to guide CAKE into its next chapter. The original vision of CAKE was remarkably close to achieving significant success. Strategic adjustments are necessary, and I am confident in the potential to refine CAKE’s approach to achieve profitability.”
New Cake Team – THE PACK – Electric Motorcycle News
She further emphasized the enduring spirit of the brand: “During the formation of the new core team, we found an overwhelming level of passion and affection for CAKE. CAKE has always represented something different, and we are committed to maintaining that unique identity. Our electric bikes and mopeds are engineered for durability, with meticulous attention to every detail. CAKE stands as a powerful brand with exceptional appeal and premium products. We possess all the necessary elements to become a key player in the transition towards sustainable urban mobility solutions.”
Reflecting this renewed vigor, CAKE’s headquarters and brand store in Stockholm have reopened. With the core team back in place, produced electric bikes are immediately available for purchase, signaling the exciting resurgence of Cake Electric Bikes in the market.
