The most comprehensive deep dive into the electric two-wheeler and light vehicle industry

Sales and Financials

Vmoto Revenues Decline and That's Not the Talking Point

Vmoto reports a 32.5% dip in vehicle sales in FY 2024 and a 15.2% revenue decline. This was a year of major restructuring and expansion at the company as they head to an ASX delisting. However, the notice from a minority shareholder is a significant concern.

Vmoto Revenues Decline and That's Not the Talking Point

Vmoto reports a 32.5% dip in vehicle sales in FY 2024 and a 15.2% revenue decline. This was a year of major restructuring and expansion at the company as they head to an ASX delisting. However, the notice from a minority shareholder is a significant concern.

Making Sense of Damon's Q2 2025

A net income of USD 32.5 million took us by surprise, considering that this is a company that is not yet making any significant revenue, if at all. In the end, the financial statement reveals less and hides more.

Gogoro's Financials Continue to Deteriorate

The company's overall revenue were down amidst slowly increasing battery swapping revenues getting pulverised by steadily declining scooter sales. A worsening product mix and an enhanced focus on commercial energy storage opportunities were some key takeaways from the annual results.

Hiccups in Europe

Data released by ACEM indicates that the penetration of electric two-wheelers declined for the first time since 2019.

Zapp Electric Starts Turning Revenue

Zapp Electric, the UK-based, Thailand-manufactured, Nasdaq-listed manufacturer of the i300 super-scooter, has finally started turning revenue as it starts sales in Thailand and the UK. Global markets will follow soon.

KTM Finally has a Restructuring Plan

At yesterday's court hearing, KTM creditors have accepted a restructuring plan proposed by the board. As part of the plan, nearly EUR 548m would be received by the creditors by end-May. India-based Bajaj Auto is bringing some of the money but there remains a larger investor yet to be named.

An Electric Dawn in Indonesia?

The E2W startup scene in Indonesia is slow, with penetration levels still at <2%. Most volumes are cornered by traders who import Chinese IP, cheap scooters. However, we saw plenty of startup action at the Indonesia International Motor Show (IIMS)

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Damon's Recipe for Market Disruption

The power vs weight equation is why electric motorcycles are still relative under-performers when it comes to taking on ICE superbikes. Now, Damon suggests that they can do what the elite litre-class supersports promise.

Vmoto's Strategic Play

Vmoto has turned early stage investor for a host of fleet mobility startups across the world. The investments are in the form of scooters, batteries, chargers, and other fleet infra. This is helping the company get a foothold in a new market with limited spending.

What went wrong with KTM?

Pierer Mobility AG (KTM) has filed for judicial restructuring, a step away from bankruptcy. Sales is slow, marketshare is down, and they are sitting at manhy months of inventory. In the bigger picture, it indicates how fragile the European two-wheeler industry is.

Why Royal Enfield needs to go electric

On the face of it, Royal Enfield, the India-based British heritage ICE brand, should be the last brand to do an electric motorcycle. Yet, here they are with the Flying Flea, and electric motorcycles seem important to them. It is a need, not a luxury

Ola Announces New Mopeds

Ola Electric, the E2W market leader in India announced four new moped models. This would be an all new low-power model range energised by the company's new portable battery packs targeted at fleet operators

Damon Under Pressure

Damon Motors (DMN) listed on Nasdaq, an event closely watched by all E2W startups. However, it has been a disappointing ride since debut with the stock under pressure continuously.

KTM Enters Self-Administration

KTM caused tremors in the motorcycling world by applying for judicial restructuring. The company cannot repay loans due in the near term because of unsold inventory. This is shocking for a motorcycle manufacturer that happily distributed dividends till last year.

Honda Enters Indian E2W Market

India and ASEAN are the two legs that Honda stands on. It has been disappointing that the Japanese giant has let startups lead the way in the Indian scooter market, a market where it has a 50% market share. Honda is now doing catchup with the CUV e: in Indonesia and the Activa e: and QC1 in India

Ola Electric teases a new portable battery

The Ola scooter range, all variants on the Etergo platform, is energized with floorboard-mounted fixed batteries. However, India's fast-growing fleet delivery market, dominated mainly by Chinese imported two-wheelers, primarily uses portable/swappable batteries. Now, Ola joins the party

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