In the world of e-bikes, Rad Power Bikes was in the vanguard and an innovator that built their business on a direct purchase sales model and a quality product for the price.
Last year, Rad Power Bikes went into bankruptcy, and now has been sold and taken possession by Life Electric Vehicles Holdings. (Also known as Life EV.)
According to electrek.com,‘ The move positions Life EV as the new owner of one of the most recognizable names in the e-bike industry. The company says it plans to continue operating under the Rad Power Bikes brand in the United States while expanding retail operations in select markets.’
The details are a little sketchy right now. The word is that Life EV wants to actually move more manufacturing into the United States, not less, although there’s no word yet on what’s going to happen to the Seattle facilities.
What about previous commitments?
Recurrent users of Rad Power Bikes Life EV says that right now is that they will“Support Rad customers by honoring certain warranties and gift cards in accordance with the terms of the asset purchase agreement”…