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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Breaking the ICE...

As ICE motorcycles embrace electronics, sensors, and rider-aids, it is becoming easier for new riders to handle speed. The various automatic transmissions entering the market further dumb down motorcycles. The motorcycling world may not realise but they are taking ICE closer to EVs

BodaBodas Part Deux

With more highly populated African countries enhancing power generation and cleaning up their grids, electric mobility is finding a natural fit against high-cost oil. The BodaBodas open a huge market, potentially worth USD 7.5 bn

Electrifying the BodaBodas

Often, in the haste to go electric, we force-fit electric mobility to the ecosystem. However, it should be the other way around, and the ecosystem should dictate the suitability of electric mobility. Once we do things the right way, Africa emerges as an unexpected shining star for E2Ws

Electrifying Big Motorcycles

The incumbents are reluctant and everyone else is not getting anywhere with large lifestyle electric motorcycles? What makes the equation so impossible? Is it just technology challenges compounded by half-hearted efforts or are we trying to force fit things before the core technology matures?

The Core Fundamentals of E2Ws

In a world where riders have been trained by ICE machines, over a century, it is difficult to make a sudden switch to E2Ws. With most established incumbents still treating going-electric with caution, we wonder if there is space for E2Ws in the world?

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