IN FOCUS
In today’s newsletter, we look at:
- The job cuts at Scorpio Electric amid e-bike delivery woes
- A Dubai-based deeptech startup eyeing a future with smart contact lenses
Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter spotlights emerging startups and the biggest trends in the tech ecosystem. If you’re not a subscriber, get access by registering here.
Hi there,
It may come as a surprise to many, but there are plenty of electric motorcycles in the rural areas of the Philippines. That’s thanks to dealerships of Chinese brands that sell these e-motorbikes like hotcakes to Filipinos seeking to fulfill their last-mile transportation needs.
But not all companies selling EVs are having the best of times.
In Southeast Asia, startups that have promised to develop e-motorbikes are finding it tough to deliver their finished products. Case in point: Singapore-based Scorpio Electric. The company at the center of this week’s Big Story has reduced its headcount as it struggles with product delivery problems.
It’s the second big hit to the sector this year. After facing production bottlenecks that caused delays in the delivery of its two-wheeler EVs, Ion Mobility was acquired in January by Indian bike manufacturer TVS Motor for a discount.
These developments seem to come as investors lose interest in climate tech firms in Southeast Asia and focus on AI-related ventures instead.
Despite the downturn in some sectors, there’s still a courageous few who venture into unchartered territory. In this week’s Hot Take, I discuss a Dubai-based deeptech startup that wants to be the first to bring smart contact lenses to consumers.
– Elyssa
BIG STORY
Scorpio Electric cuts staff amid e-bike delivery woes
Image credit: Made by Tech in Asia using Midjourney
Founded in 2017, Scorpio Electric is considered Southeast Asia’s oldest e-motorbike startup. But despite being a pioneer, the company has yet to deliver its first vehicle to customers.
HOT TAKE
DEEP READS
EMERGING NEWS
The partnership with India’s Digantara and Bellatrix Aerospace will be the first venture of Japan-based Astroscale outside of Asia Pacific.
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