Half ebike, half automobile, the Podbike Frikar was a wild stab at the way forward for transportation. Cory wrote about Podbike’s Frikar again in 2021, which was a collaboration with German bike firm, Storck. Now slightly below 4 years later, it seems that the Norwegian electrical bike producer has filed for chapter. The choice comes on the heels of a protracted interval of “monetary constraints”. These have impacted Podbike’s potential to develop the corporate right into a worthwhile enterprise.
Podbike is a Norwegian firm devoted to creating modern electrical bikes, just like the Frikar. They provided sustainable and sensible options to conventional modes of transportation. With an apparent deal with design, effectivity, and environmental affect, Podbike’s objective was to make city mobility extra accessible and sustainable. It additionally provided a totally enclosed cabin – the reply to these “what about when it rains!?!” questions from biking naysayers.
Finacial Struggles
Podbike gathered a loyal buyer base and skilled intial success. However the firm confronted important monetary challenges over the previous 12 months. A combo of accelerating manufacturing prices, provide chain disruptions, and the “world financial slowdown” resulted in lower-than-anticipated gross sales numbers. Add the burden of mounting operational prices, and the efforts to pin down extra funding by funding rounds and partnerships weren’t sufficient to bridge the monetary hole.
It was after “thorough consideration and session with monetary advisors, Podbike’s board of administrators concluded that submitting for chapter was probably the most prudent plan of action.”
Clearly, the chapter goes to have important repercussions for the corporate’s workers and prospects. Podbike has made it a precedence to decide to assist and clear communications in the course of the transition.
From Podbike’s CEO
”We’re deeply saddened to make this announcement,” stated Bernt Rosli, CEO of Podbike, and continues, “Our staff has labored tirelessly to carry modern options to the market, and we stay pleased with our achievements. We might additionally wish to take this chance to increase a giant thanks to our traders, prospects, and dependable supporters. Their perception in us made all the pieces doable – and whereas we didn’t attain the vacation spot we envisioned, we’re deeply grateful to have shared this journey with them“.
