CAKE has announced a deal for 130,000 eBikes for China. The Swedish manufacturer has signed a contract with Shanghai Forever — the largest single brand bicycle retailer in China. CAKE and Forever have initiated the development towards manufacturing and distributing the 130,000 bikes by 2027.
"The transformation from a firm term sheet to a final contract signed in ink is an important milestone,” explains CAKE founder and CEO Stefan Ytterborn. “It amplifies our capability to roll out high-quality, long-lasting vehicles, and to further influence the electric wave in China. With Forever, we have the capacity to inspire millions through the CAKE spectrum of purpose, innovation, performance and high quality, catering for product longevity and a greener environment.”
“The Chinese market is extremely large and filled with opportunities, especially in the development of green energy transportation solutions,” adds Chen Shan, CEO of Shanghai Forever. “We believe that the technology and user/environment focused design language of CAKE bikes, we are able to truly tap into this new frontier for growth. We're ready and we can't wait to show everyone what we've got planned.”
As part of this next phase, CAKE's current product line will be unveiled in Shanghai and across China, commencing in November 2023. Operations and logistics are already underway, with product shipments and the establishment of a CAKE marketing and product office at Forever’s headquarters in Shanghai.