Life EV officially owns Rad Power Bikes now
The Rad Power brand is expected to live on.
Rad Power Bikes
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.
A rough week for hardware companies
iRobot, Luminar, and Rad Power Bikes were very different companies, but they faced some similar challenges.
TechCrunch Mobility: Bankruptcy takes out two
Welcome back to TechCrunch Mobility, your hub for all things “future of transportation.”
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.