Back in 2016, the first images of a new project emerged: a modern electric velomobile—or rather, a light electric vehicle—designed in Stavanger, Norway. It immediately caught the attention of many, impressing with its sleek design and concept. Within a short time, hundreds and later thousands of people showed interest, and over 4,000 pre-orders were placed. But just few days ago, customers were informed that the company behind Podbike is shutting down due to financial reasons. All this despite the fact that everything still looked great at SPEZI. They had a lot of bikes to test and a great team that took care of their entire presentation there.

This marks the end of yet another promising concept, joining the ranks of other ambitious projects like the Podride or the Schaeffler Bio-Hybrid that also didn’t make it to widespread production.

Here is the official statement from Podbike:

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.

We gave it everything we had.

From the first sketch to the first ride.

From late nights in the workshop to test drives in the rain.

From nervous crowdfunding launches to cheering at every preorder.

We did it all because we believed in something better — and you did too.

We didn’t get here without a fight.

Over the years, we’ve achieved things we’re proud of: launching the award-winning FRIKAR Signature, then the FRIKAR Plus, starting deliveries in Norway, Germany, Austria, Belgium, and Switzerland, and building a passionate community of riders who truly believed in a new kind of sustainable transport. 🚲⚡

But building hardware at scale is hard. Really hard. Rising costs, global disruptions, and lower-than-hoped-for sales meant we just couldn’t keep going — even after exhausting every option to find a way forward.

We are devastated! For our customers waiting patiently. For our partners and suppliers. And for you — our community — who lifted us higher than we ever imagined.

To those of you who rooted for us, shared our vision, or sent us a message of encouragement along the way: thank you. You’ve been part of something rare and brave. Even though we didn’t reach the finish line, we’ll always be proud of the ride we shared.

📩 If you have questions, please reach out at [email protected].

From all of us at Podbike — thank you for believing. We believed too!

With love, respect, and gratitude,

The Podbike Team

I’m working on a video that will take a closer look at the reasons behind the project’s collapse from my point of view. But even now I can say, it’s clear that key factors included a price point that kept rising but was still too low, and an overly complex technical design that proved too difficult to fine-tune and bring into production—especially under the pressure of tight pricing and growing manufacturing costs.

No matter how you look at it, it’s a shame. The world has lost a unique project, and for people looking to buy a similar type of vehicle, the range of options just got a little smaller.