For micromobility founders and companies going through difficult times right now, please feel free to reach out.

@micromobilityco.bsky.social and I are happy to help in any way we can.

I have huge respect for the team at Rad, who helped build the e-bike movement in the U.S., and I feel terrible for everyone affected

I truly hope they find a way to navigate this storm and come out stronger

For a market on a recovery phase, these tariffs couldn’t come at a worse time

Unfortunately, Rad won't be the last one to be in trouble

Short term, brands that have Europe/Asia presence probably should focus on these markets and refocus on the US market when there is tarrif stability

For companies with orders already placed, the situation is even worse: they must pay the new tariffs to take delivery, or walk away and lose the deposits already paid to suppliers.

Most are now facing a tough choice - either absorb the added cost or forfeit their inventory.

Retail bikes are a narrow margin business and companies negiatiate and lock-in their BOM cost before launching their products.

In a market where tarrifs change frequently, it is extremely difficult to price any product with confidence. Especially tough, when margins are thin.

Yulu grew 3x in FY2023 and ~1x in FY2024 and has a massive ambition to deploy 1 million vehicles in the next years, while maintaining EBIT profitability.

If you are building in Micromobility, Yulu should definitely be on your watchlist.

Since inception, Yulu has gone through two pivots and managed to stay resilient through tough market cycles

Very few mobility startups in India survived, and Yulu is one of them

Today, Yulu operates India’s largest shared MM fleet and a growing energy infrastructure with battery-swapping stations

I don’t know this place. I’ll try when I’m in Paris next time

Check out the full newsletter here - micromobility.substack.com/p/announcing...

JET recently issued Kazakhstan's first green bonds at 20% interest on the Astana International Exchange as a private company, raising $6.5 million USD.

At the end of 2023, JET had $1.32m cash in hand, up from $91k in 2022.

Based on 10-month data, JET’s 2024 revenues are projected to be $11.89m, up ~70% compared to 2023, with $2.58m EBIT.

They expect to have 35.5k vehicles this year, up from 23.8k vehicles in 2023

GMV for 2023 was $17.02m, up 120% from 2022. GMV from their franchise model is expected to double in 2024 to $18.24m.

Similar to what we noticed at Ryde Technology and SWING, JET’s G&A expenses were low, at just 13% of their revenues.