Trump says he wants to negotiate a nuclear deal with Iran after imposing ‘maximum pressure’
Vammo, a battery-swapping service for electric motorcycles in Latin America, has just announced that the company has surpassed an impressive 1 million battery swaps in a little over a year.
The company has built its service around a combination of VMoto electric motorcycles and a battery-swapping service designed to keep those motorcycles rolling all day without stopping to charge.
Headquartered in São Paulo, Brazil, Vammo’s electric motorcycles and battery swap cabinets currently serve around 1,800 customers, with that number growing quickly. The service was launched just over a year ago and has already saved its customers a combined US $1.3 million in fuel costs. That’s on top of preventing the release of 3,050 tons of CO2 emissions.
Vammo’s subscription model saves users as much as 50% compared to gasoline-powered motorcycles, translating into annual savings of thousands of dollars. “Not only are we helping to cut carbon emissions by 85%, but we’re also putting significant savings back into the pockets of our customers,” said Jack Sarvary, Vammo’s co-founder and CEO. “Many of our users, especially delivery drivers, are saving as much as $2,000–$4,000 per year, making electric mobility both affordable and sustainable.”
That success has led to rapid growth for the company. Last year alone, Vammo saw 8x growth in both revenue and customer base.
“Our growth demonstrates the power of affordable, clean transportation,” said Billy Blaustein, Vammo’s COO. “We are proving that sustainable mobility can be both accessible and scalable.”
Vammo’s VMoto models have now become the #1 registered electric motorcycle brand in Brazil, likely making the company the top player in Latin America.
Battery swapping for electric motorcycles has gained significant interest in the last few years, especially as Gogoro has expanded its world-leading model for swappable electric scooter batteries. But unlike Gogoro, which built a swappable battery standard and then began persuading other companies to adopt it, Vammo built its service around existing electric motorcycles and their already operational battery designs.
Vammo began operations in São Paulo and has positioned its service as a solution not only for Brazil but also for broader Latin America.
Brazil is uniquely suited for electric motorcycles and battery swapping, as the country not only sells 4x the amount of motorcycles per year as the US, but has some of the cleanest electricity in the world. Over 90% of the country’s electricity is generated by clean sources, primarily hydroelectric power, with wind and solar also contributing to the mix. Compare that to the global average of just 13%.
Vammo is building on its momentum, recently announcing a partnership with app-based taxi provider 99, offering mototaxi drivers access to its electric motorcycles.
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TotalEnergies posts 21% drop in annual profit, targets buybacks of $2 billion per quarter in 2025
AI and Crypto Czar David Sacks speaks with President Donald J Trump as he signs executive orders in the Oval Office at the White House on Jan. 23, 2025 in Washington, DC.
Jabin Botsford | The Washington Post | Getty Images
As David Sacks, the newly appointed White House AI and crypto czar, collaborates with lawmakers on potential regulations for digital assets, one of the first things they’ll be focused on is stablecoins.
“They are very committed to moving legislation through the House and the Senate this year in order to provide that clear regulatory framework that the digital assets ecosystem needs to sustain innovation in the United States,” Sacks said on CNBC’s “Closing Bell Over Time” on Tuesday. “Moving legislation through Congress takes time, but I think this is something we could do in the next six months.”
Earlier in the day, Sacks joined leaders of the House and Senate committees for banking and finance for a press conference to talk about their early objectives for crypto policy, with the help of the SEC. It was part of a busy day in Washington for regulators and key players on Capitol Hill and in Trump’s White House to announce next steps in their digital currency plans.
“I look forward to working with each of you in creating a golden age in digital assets,” Sacks said at the press event.
He was flanked by Sen. Tim Scott (R-S.C.), chairman of the Senate Banking committee, Rep. French Hill (R-Ark.), chair of the House Financial Services Committee, and Sen. John Boozman (R-Ark.), who heads the Senate Agriculture Committee.
The leaders said their first priority is supporting a stablecoin bill introduced by Sen. Bill Hagerty (R-Tenn.), who has proposed new rules for stablecoins to create a “clear regulatory framework” for their use. Stablecoins are a type of cryptocurrency whose value is pegged to a real-world asset, such as the U.S. dollar.
Stablecoins have been gaining popularity but mostly overseas. Lawmakers are now promoting U.S.-based stablecoin issuance, reinforcing the dollar’s dominance through digital finance. Supporters like Sacks say such a move could drive trillions of dollars in new demand for the dollar and help lower long-term interest rates.
David Sacks, U.S. President Donald Trump’s AI and Crypto Czar, listens to President Trump signs a series of executive orders in the Oval Office of the White House on January 23, 2025 in Washington, DC.
Anna Moneymaker | Getty Images
Sacks on Tuesday told CNBC that a top agenda item for his new task force is evaluating “the feasibility of a bitcoin reserve,” an idea President Donald Trump suggested during his campaign. Sacks noted that the president asked his digital assets working group to study “whether it’s feasible to create either a bitcoin reserve or some sort of digital asset stockpile.” He clarified that they “haven’t committed yet to doing it, but it’s one of the first things” they’ll be considering.
Also on Tuesday, the SEC made a major shift in its approach to digital asset regulation. Under new leadership, the agency announced it would open its doors to meetings with anyone interested in discussing crypto, an effort to show a clear contrast to former SEC Chair Gary Gensler, who emerged as an antagonist to the industry.
SEC Commissioner Hester Peirce, now leading the agency’s newly established Crypto Task Force, published a statement titled The Journey Begins. She said the idea is to create more transparent and predictable regulations, removing legal ambiguity and unnecessary roadblocks.
“The Task Force is working to help create a regulatory framework that both achieves the Commission’s important regulatory objectives — including protecting investors — and preserves industry’s ability to offer products and services,” Peirce wrote.
Priorities include clarifying which crypto assets fall under securities laws, crafting a path for token issuers to gain regulatory approval and ensuring compliance measures don’t stifle innovation. The group will also examine crypto lending, staking, exchange-traded products, and cross-border regulations. Peirce stressed that while the SEC aims to foster industry growth, it will not tolerate fraud.
The SEC said it’s actively soliciting input from the public. Firms and individuals can submit written feedback or request meetings with the task force.
Tuesday’s press conference was the first major policy event led by Sacks, who was named to the post in December. While he lacks direct control over regulatory agencies or congressional funding, Sacks’ close ties to the White House and Elon Musk have positioned him as a key figure in the administration.
In June, Sacks, previously a Trump critic, hosted a fundraiser at his Pacific Heights mansion that raised $12 million for the Republican leader’s presidential campaign.
Sacks was in Washington, D.C., for the inauguration last month and attended the Crypto Ball, surrounded by industry leaders and policymakers. He declared at the event that, “The war on crypto is over.” During Trump’s first week in office, Sacks stood alongside the president in the Oval Office as he signed an executive order on digital assets.
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