Report: Electric Moto Maker CAKE Is Bankrupt - Adventure Rider

Photo: Cake

Multiple Swedish news outlets are reporting that CAKE, manufacturer of electric motorcycles, is bankrupt.

When CAKE first came to market before COVID-19, it was known for two things: forward-thinking designs with unique aesthetics, and an emphasis on performance and capability. Bikes like the CAKE Bukk were designed to ride fast through the woods. The Kalk AP was designed to be used as transportation for wildlife rangers fighting poachers. The Osa En was supposed to do double duty as transportation, and also as a mobile power source.

For us, the most interesting story for the brand was Sinje Gottwald’s trip across Africa on a CAKE Kalk AP. She was the first person to ride an electric motorcycle across that continent, and we told you her story in Volume 7 of ADVrider’s print magazine.

Unfortunately, talking about CAKE’s motorcycles always ended up in a discussion over money. CAKE’s bikes were expensive, more expensive than Average Joe Motorcyclist was realistically going to drop on a bike with limited range. And now the talk has shifted over to CAKE’s finances. The Swedish media is reporting that CAKE is bankrupt.

The problems reportedly came to a head in late January, when CAKE was trying to raise funding and didn’t get the help they needed. After the company filed for bankruptcy at start of February, founder/CEO Stefan Ytterborn said the move came as a result of several problems hitting at the same time. Venture capitalism investment had dropped, he said (a big investor left the project at the last minute during early 2024 fundraising). He also said there is less focus on environmental issues right now, causing interest to drop in CAKE.

What does this mean for customers who were waiting for orders? Who knows, but Cake reportedly tried to cut a deal with Harley-Davidson and other vehicle manufacturers before declaring bankruptcy. Maybe they’ll find a savior yet, or maybe some other entity is circling overhead, looking to pick the company’s bones clean when the assets come up for sale.