This electric motorcycle company just hit 10 million battery swaps – and it’s profitable — SkimNews
Get the Energy newsletter
Daily energy & climate — solar, EVs, oil, the policy fights and tech bets shaping the transition. Free.
- Vammo surpassed 10 million battery swaps and reached EBITDA profitability in June — six months ahead of plan — making it one of the few young electric motorcycle companies to hit that benchmark.
- The São Paulo-based company grew active riders 250% this year to more than 10,000 and is on track for roughly $45 million in annual recurring revenue by the end of 2026.
- Vammo is expanding to Campinas as its second official city, with leadership framing the longer-term goal of becoming the "Gogoro of Latin America" across Brazil and beyond.
- The company controls more than 65% of Brazil's electric motorcycle market so far in 2025, even though electric models account for just 0.7% of all Brazilian motorcycle sales.
- Vammo launched a 36-month rent-to-own program to address Brazil's punishing vehicle financing rates (~45%), and says its average rider saves ~35% versus running a used 160cc gasoline motorcycle.
- Its third-generation swapping station cuts costs another 15%, with AI-based software that dynamically adjusts charging rates based on rider demand, weather, delivery-app demand, and battery temperature.
Why it matters: Vammo is the proof point that battery-swapping for two-wheelers can be both profitable and fast-scaling in a market purpose-built for the use case — motorcycles dominate Brazilian transport, grid electricity is largely renewable, and the company already owns 65% of an EV slice that's still under 1% of total sales, leaving enormous runway to convert a 500,000-motorcycles-per-year São Paulo market.
Ask SkimNews
