Greetings and welcome back to the InsightEV Weekender. Here, we like to focus on things we did not cover during the week.
Continuing from last week, our coverage of Brazil took us to YvY Capital. This fund wants to invest in companies that can manufacture and introduce electric motorcycles in the Brazilian market. It’s not that simple, as Brazil is really at the starting point of electric mobility. There is no ecosystem, no supply chain, and the (cheap) Chinese have already started making inroads.
But, YvY points out, Brazil has its fundamentals in the right place. The grid is 88% clean and renewables-driven, and there are a couple of million delivery riders across the most populated cities of the country. They ride 160cc motorcycles, sometimes dual-sport ones, not exactly the cleanest or the most fuel-efficient ones around. It’s a market waiting to turn, and YvY wants to be the ones who provide the initial help.
YvY has a strong footing. They have the backing of iFood, a delivery giant with more than 95% of the Brazilian food delivery market. A huge chunk of the above-mentioned delivery riders are working for iFood.
So you have funding and a ready market. What may be missing? Head to:
InsightEV – Global Electric Mobility
Also, don’t miss the previous analysis of Brazil. You can find it here.
InsightEV – Global Electric Mobility
Ather reverses the Trend?
We added the question mark later. It’s not in the original story.
Ather’s results are pretty good in the sense that Gross Margins (even though we don’t believe in that metric) have improved, EBITDA margins have improved (though still very negative), and revenues are up.
InsightEV – Global Electric Mobility
We are always sceptical about financials immediately after an IPO. Companies are at their best behaviour, are prudent, and the numbers are unbelievably good. In some cases, they start deteriorating right after.
Case in point, Ola Electric.
While Ather Energy is not Ola, we will closely watch them for consistency. We may be skeptical, but we remain optimists.
Damon Resigns to the Pink Market
Last week, we pointed out that Damon had been kicked out of the Nasdaq. Now, the Canadian electric motorcycle aspirant has decided not to contest the Nasdaq’s delisting determination. Instead, Damon will take their shares on the OTC Pink Current Market maintained by OTC Markets Group, Inc.
Yadea Starts Manufacturing in Mexico
Yadea has announced the start of production at its Mexican plant. The Chinese manufacturer has been on a roll in terms of international expansion. They have also started production in Brazil.
In Mexico, Yadea plans to establish over 150 retail stores and employ more than 1,000 people by the end of 2025.
Remember Carver?
They had a pretty nifty tilting three-wheeler and (theoretically) made a strong case for personal, fleet as well as cargo use. The Dutch tilting three-wheeler manufacturer funded by Bloomit Ventures went under in July 2024.
Now their IP has been acquired by Belgium-based Kerv Automotive, another startup that has developed a highway-capable enclosed vehicle (just like Carver) with a tilting mechanism. They promise the agility of a motorcycle with the safety and comfort of a car.
Undoubtedly, the Carver IP will help Kerv get to market faster, but it remains to be seen if there is ample demand for innovative high-speed enclosed tilting three-wheelers.
That’s a wrap for today. This newsletter will be back next Sunday. The posts on the website are more frequent. This is your editor, and you may view my LinkedIn profile here.
