Rad Power Bikes, once the dominant force in North America’s direct-to-consumer e-bike boom, has officially found a new home.
Hounded by plummeting sales and faulty batteries, Rad Power Bikes now belongs to Life EV, which vows to keep the brand’s legacy alive.
Robert Provost, CEO of South Florida-based Life Electric Vehicles Holdings, Inc., laid out an ambitious roadmap to overhaul and energize the new company, Rad Life Mobility.
The Rad Power brand is expected to live on.
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Rad Power Bikes, once valued at $1.65 billion, will see its brand live on as its new owner looks to onshore production.
Electric bike company Rad Power Bikes has reached a deal to sell itself to a company called Life Electric Vehicles Holdings (or Life EV) for around $13.2 million, a little more than a month after ...