Rad Power Bikes reaches deal to sell itself for $13.2 million
A company called Life Electric Vehicle Holdings has emerged as the top bidder for Rad Power’s assets. It’s not clear what the company plans to do with them, though.
micromobility
Rad Power Bikes files for bankruptcy and is looking to sell the business
It’s the latest e-bike company to seek bankruptcy protection after pandemic-era excitement for the category wore off.
Rad Power Bikes’ batteries receive major fire risk warning
The U.S Consumer Product Safety Commission claims Rad Power “refused to agree to an acceptable recall.” Rad Power says the CPSC’s solution would bankrupt the company.
Rad Power Bikes faces shutdown in January without new funding
Seattle-based Rad Power has gone through multiple rounds of layoffs over the last few years coming out of the pandemic. However, the company is “still fighting to find ways to continue” according to an email viewed by TechCrunch.
Amazon will buy thousands of pedal-assist cargo vehicles from Rivian spinoff Also
The pedal-assist cargo quad vehicles are narrow delivery vans that can operate in a bike lane.
Rivian spinoff Also reveals a high-end modular e-bike for $4,500
The first in a lineup of new vehicles from Also, which started as a skunkworks project inside of Rivian a few years ago.
Rivian spinoff Also raises another $200M to build e-bikes and more
Also, the micromobility startup that spun out of Rivian this year, was raised $200 million from Greenoaks Capital.