Rad Power Bikes gets a new owner, pledge to build bikes in the US

1 week ago 2

Life EV has completed a court-approved acquisition of Rad Power Bikes, granting a second life to the troubled e-bike brand.

The Florida-based Life EV now owns Rad’s brand, intellectual property, inventory and certain unspecified operating assets, and will continue to operate as Rad Power Bikes in the US, with plans to expand to "select key markets."

Rad’s new owner has committed to honoring certain warranties and gift cards purchased prior to the acquisition, and says new bikes will be built in the US going forward. Life EV will adopt a Foreign Trade Zone (FTZ) structure for its manufacturing operations, allowing it to take advantage of special domestic customs procedures when sourcing parts from global suppliers.

"Rad Power Bikes has helped define the e-bike category in North America with its innovative products ...

Source: https://www.engadget.com/transportation/rad-power-bikes-gets-a-new-owner-pledge-to-build-bikes-in-the-us-144641940.html?src=rss

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