Ebike subsidies, consolidation and IPOs Our 2023 micromobility predictions
- Gross said that was a “very strong proof point towards most likely a public market offering.”More bike companies in the public markets could help push the narrative around e-bikes outselling electric cars in America.
- And unlike many of the electric vehicle companies that went public through special purpose acquisition mergers over the last couple of years, Sondors is already building and delivering vehicles.Gross further speculated that Rad Power Bikes might be next to the public markets.
- Might other electric bike manufacturers follow suit in 2023 and beyond?“The public markets are less about the biggest and baddest tech and more about something that’s perhaps simpler and proven to turn a profit,” James Gross, co-founder of Micromobility Industries, told TechCrunch.
- There are certainly ways to bring down CapEx and increase ridership, but nothing will help turn revenue into profit if the relationship most operators have with cities still verges on hostile.Shared companies started out thinking that riders were customers, when really their customers are governments.
- Soon, we will start to see more technology to provide safety and comfort for riders, including AI-equipped cameras for hazard detection, and smarter turn-by-turn navigation that guides riders on the most comfortable route out of harm’s way.”White said safety and security are the top concerns for prospective e-bike buyers.
- “Companies that are going public right now are companies that can show cash flow.”Sondors’ S-1 showed a company that was operating at a net loss, but has the potential to become profitable.
This was a tumultuous year for micromobility, both within the shared and private spheres. As we predicted last year, 2022 brought with it a rise in the sale of electric bikes, the adoption of smarter [+8643 chars]