The best looking enclosed electric bike-car yet isn’t going to make it
In a surprising and disappointing turn for fans of innovative micromobility, Podbike, the Norwegian maker of the sleek, fully enclosed Frikar electric pedal-car, has filed for bankruptcy. Despite gaining significant attention and accolades for its standout design and functionality, the company ultimately couldn’t overcome the financial hurdles that have cut down so many ambitious mobility startups lately.
Podbike’s flagship product, the Frikar, spent years making waves in the micromobility space due to its combination of car-like comfort with the practical, pedal-assisted features of an electric bicycle. Despite spending a considerable amount of time as a prototype, the innovative design immediately attracted broad appeal.
Its striking aerodynamic design, spacious enclosed cabin, and efficient electric assistance positioned it as an attractive urban commuting option for riders seeking shelter from harsh weather, safety from urban traffic, and an eco-friendly alternative to traditional cars.
Earlier this year, Podbike successfully began deliveries of the Frikar quadcycle to customers in Norway and subsequently expanded availability to several other European countries, including Austria and Belgium. The Frikar was gaining real traction, supported by positive feedback for its innovative design, ease of use, and the comfort provided by its weatherproof enclosure. It looked like the Frikar was finally set to do what so few others had – overcome industry hurdles to become an actual mass production fully-enclosed electric bike car.
However, despite the positive news and widespread enthusiasm around the Frikar, Podbike faced substantial financial challenges. The price of the Frikar ballooned from an initial target of around €5,000 in 2021 to as high as €13,000 recently for more premium trims. And with expensive production combined with reduced demand at such high price tags, the financial equitation was always going to be a battle.
Most recently, Podbike has cited those soaring production costs, ongoing global supply chain disruptions, and a slower-than-anticipated ramp-up in sales volume as major contributing factors to its financial distress. Ultimately, these economic pressures proved insurmountable, forcing Podbike to declare bankruptcy.
As the company explained to its followers last week, “After years of dreaming big, building bold, and pushing boundaries, we’re heartbroken to share that Podbike is probably at the end of the road. The Board has made the incredibly difficult decision to file for bankruptcy and cease operations.”
The fall of Podbike highlights the harsh reality that innovative hardware startups in the micromobility industry face every day. Even with an exceptional product, navigating the path from initial design to mass production and profitable scale-up can be fraught with obstacles. And with the amount of innovation in the Frikar, the company was pedaling uphill from the get-go.
We’ve seen the same happen in several other micromobility companies, from similar bike-cars like the ELF and PEBL to more conventional electric bicycle companies like Juiced Bikes and E-Cells.
Electrek’s Take
I think that while Podbike’s journey has come to a tragic end, the legacy of the Frikar will likely live on as inspiration and a blueprint for future electric micro-vehicles. The vehicle’s popularity demonstrated a clear demand for comfortable, efficient alternatives to conventional transportation methods, especially in dense urban settings. Its higher price and steep ramp-up to production were two significant nails in its coffin though that will need to be addressed in order for future electric bike-cars to succeed.
The bankruptcy filing has surely saddened many in the micromobility community who saw Podbike as a potential frontrunner in shaping the future of enclosed pedal car-type vehicles in urban transportation. Nevertheless, the concept behind the Frikar and its execution will undoubtedly serve as valuable lessons, and perhaps even a launching point, for future sustainable transportation innovations. Or at least we can hope!
FTC: We use income earning auto affiliate links. More.
After launching a wave of new electric SUVs, sedans, crossovers, and vans, Kia is about to hit a big milestone. Kia’s EV series is expected to cross over 500,000 in cumulative global sales this month.
After Hyundai hit the half-million mark with its IONIQ series in January, it looks like Kia is right behind it. It’s been five years since Kia launched its first dedicated EV, the EV6, but the growth is expected to quickly pick up from here.
Kia set a new record, selling over 1.5 million vehicles globally in the first half of 2025. The Korean automaker credited the growth to the arrival of new models, including the EV3.
The EV3, Kia’s compact electric SUV, is already the sixth-best-selling EV in Europe through June, having arrived late last year. With over 35,000 units sold, the EV3 trails only the Tesla Model Y and Model 3, as well as Volkswagen’s ID.4, ID.7, and ID.3.
According to local reports, Kia is expected to cross 500,000 in cumulative global EV sales this month. With 485,055 EVs sold so far, the company is about to join the half-million club.
Kia’s EV sales are expected to top 500,000 this month
Kia’s EV sales have been climbing in recent years from 29,482 in 2021, to 83,411 in 2022, 131,242 in 2023, and 124,835 last year. This year, Kia has already sold over 116,000 EVs, but with new models rolling out, it could see even higher numbers.
The EV6 is Kia’s top-selling EV with 282,639 cumulative sales, followed by the EV3 (101,162), EV9 (79,312), and EV5 (18,621).
Kia launched several new EVs, including the EV4, EV5, and PV5, that are expected to drive even more demand over the next few months. The EV4 is Kia’s first electric sedan. In Europe, it’s also sold as an electric hatchback.
Meanwhile, the PV5 is the first from Kia’s new PBV electric van business. During its PV5 Tech Day event this week, Kia revealed plans for seven new body types based on the electric van, from camper to pickup.
Kia has already opened orders for the EV4 (sedan and hatchback) and PV5 in the UK. They will be rolling out in Europe later this year. Although the hatch isn’t expected to make the trip overseas, Kia is launching the EV4 sedan in the US in early 2026.
Following the EV4 and EV5 this year, Kia will introduce the EV2 in Europe and other global markets in 2026. The EV2 is Kia’s new compact, entry-level electric SUV.
Source: ChosunBiz, Kia
FTC: We use income earning auto affiliate links. More.
Solid-state battery developer QuantumScape has posted its quarterly fiscal report and letter to shareholders for Q2 2025. QuantumScape’s progress update includes an expanded agreement with Volkswagen Group’s battery business, PowerCo, and a new joint development agreement with an additional OEM.
As far as quarterly updates go, I personally look forward to the letter to shareholders from QuantumScape ($QS) four times a year. The solid-state battery developer continues to improve its technology and production techniques, pushing closer than ever to delivering mass-produced energy-dense cells to market.
Last month, QuantumScape reported that its proprietary Cobra solid-state separator process had been fully integrated into its baseline production processes, achieving a 2025 goal while enabling gigawatt-level solid-state cell production.
QS said the Cobra breakthrough is expected to lay the groundwork for higher-volume B1 sample production of its flagship QSE-5 cells, which will eventually lead to scaled production for the battery market.
Furthermore, the technology supports QuantumScape’s licensing model with PowerCo, a division of Volkswagen Group, which was announced a little over a year ago. As part of its Q2 2025 report, QuantumScape shared details of an expanded deal with PowerCo among several other exciting updates.
Partnerships, Volkswagen AG; Dennis Segers, QS Board Chairman; Jupp Kaufer, VP of Product Management and Corporate Quality, PowerCo / Source: QuantumScape
QuantumScape ended Q2 2025 with runway through 2029
All details outlined below are available in QuantumScape’s Q2 2025 Letter to Shareholders. Per the company, its capital expenditures were $8.3 million in Q2, primarily spend on facilities and equipment purchases to
prepare for higher-volume QSE-5 B1 sample production using the Cobra separator process mentioned above.
GAAP operating expenses and GAAP net loss in Q2 were $123.6 million and $114.7 million, respectively. Adjusted EBITDA loss was $63 million in Q2 (in line with expectations). Per the letter:
We continue to streamline operations consistent with the company’s capital-light licensing focus and capture gains from cost reduction initiatives and process improvement, including the Cobra process. We narrow the range of our full-year guidance for Adjusted EBITDA loss to $250M – $270M. We ended Q2 with $797.5M in liquidity and extend our guidance for cash runway into 2029, a six month improvement over our previous guidance. Any additional funds from other customer inflows or capital markets activity would further extend this cash runway.
As hinted above, QuantumScape’s Q2 2025 update also included news of an expanded deal with PowerCo, which entails the latter company contributing an additional $131 million to the former over the next two years. That amount will come in addition to the original $130 million committed by Volkswagen Group’s battery arm if and when QS delivers “satisfactory technical progress and execution of the full licensing agreement.”
In exchange for the additional funding, QuantumScape will prioritize QSE-5 cells manufactured on its San Jose pilot line to support its joint development agreement with PowerCo. That said, QS still maintains a non-exclusive arrangement and has the right to provide cells to our other customers.
Speaking of which!
QuantumScape’s Q2 2025 report also includes news of an additional joint development agreement (JDA) with “another major global automotive OEM.” Although QS did not name the OEM, it did say the JDA builds off an existing relationship, as the client was a solid-state sample customer. Unfortunately, QS keeps that client list close to its chest, so we’d rather not speculate on who the new joint development partner could be, but it’s exciting news nonetheless.
Looking ahead beyond Q2, QuantumScape is set on its second goal for 2025 – installing higher-volume cell production equipment to support scaled solid-state cell production. From there, QS is looking to ship more samples of its prototype cells and has shared a more concrete timeline for actual field testing. Per the letter:
We are working closely with our launch customer, and in Q2 we shipped QSE-5 cells for pack integration and testing, including safety testing. These cells were the final Raptor-based B0 samples to be shipped; future shipments will be Cobra-based B1 samples, in line with our third annual goal. This launch program is designed to be a low-volume, high-visibility project that will allow us to put our cells into a real-world vehicle application and generate customer feedback. We continue to target 2026 for the beginning of field testing.
That’s all for now. Be sure to check back with Electrek soon for the latest solid-state battery and other electric mobility news.
FTC: We use income earning auto affiliate links. More.
The “holy grail” of electric vehicle battery tech may be here sooner than you’d think. Mercedes-Benz is testing EVs with solid-state batteries on the road, promising to deliver over 600 miles of range. Here’s when you can expect to see it hit the market.
Mercedes moves to launch EVs with solid-state batteries
Earlier this year, Mercedes marked a massive milestone, putting “the first car powered by a lithium-metal solid-state battery on the road” for testing. Mercedes has been testing prototypes in the UK since February.
The company used a modified EQS prototype, equipped with the new batteries and other parts. The battery pack was developed by Mercedes-Benz and its Formula 1 supplier unit, Mercedes AMG High-Performance Powertrains (HPP)
Mercedes is teaming up with US-based Factorial Energy to bring the new battery tech to market. In September, Factorial and Mercedes revealed the all-solid-state Solstice battery.
The new batteries, promising a 25% range improvement, will power the German automaker’s next-generation electric vehicles.
According to Markus Schäfer, the automaker’s head of development, the first Mercedes EVs powered by solid-state batteries could be here by 2030.
During an event in Copenhagen, Schäfer told German auto news outlet Automobilwoche, “We expect to bring the technology into series production before the end of the year.”
In addition to providing a longer driving range, Mercedes believes the new batteries can significantly reduce costs. Schäfer said current batteries won’t suffice, adding, “At the core, a new chemistry is needed.” Mercedes and Factorial are using a sulfide-based solid electrolyte, said to be safer and more efficient.
Mercedes claims the new battery can extend driving range by around 25%. With the Mercedes EQS 450+ rated with a WTLP range of 511 miles, that would suggest over 620 miles of range.
Factorial is collaborating with other leading OEMs, including Hyundai and Stellantis, to introduce solid-state EV batteries to the market by 2030.
Several others, including Volkswagen, BMW, Toyota, Nissan, and Honda, are all advancing the promising new batteries. And don’t forget BYD and CATL, which are already dominating global sales, are also quickly advancing new EV batteries, including solid-state.
Earlier this week, MG’s brand manager, Chen Cui, claimed that the new MG4 will be the first mass-market EV sold globally with semi-solid-state batteries.
FTC: We use income earning auto affiliate links. More.
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports1 year agoStory injured on diving stop, exits Red Sox game
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Sports2 years agoButton battles heat exhaustion in NASCAR debut
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike