Florida-based Life EV has finalized a court-sanctioned purchase of Rad Power Bikes, breathing new energy into the e-bike firm that faced recent hardships.
Life EV has gained ownership of Rad's trademark, patents, existing stock, and select operational resources whose details remain undisclosed. The buyer plans to maintain the Rad Power Bikes identity for U.S. operations while targeting expansion into targeted international regions.
Under the new leadership, Life EV promises to fulfill specific warranties and pre-acquisition gift card redemptions. Upcoming models will undergo assembly in the United States. The firm intends to implement a Foreign Trade Zone framework for production, enabling beneficial U.S. customs exemptions on components imported from overseas vendors.
"Through inventive designs and a devoted following, Rad Power Bikes has shaped the electric bicycle landscape in North America," noted Rob Provost, chief executive of Life EV. "Upholding this heritage—encompassing its name, aspirations, and guiding principles—forms the core of our purchase. We look forward to strengthening that bond and unlocking fresh prospects for e-bike enthusiasts across the nation."
The transaction brings closure to a difficult phase for Rad Power Bikes. Earlier in December, the outfit sought Chapter 11 bankruptcy protection after the Consumer Product Safety Commission issued an urgent alert for users to halt operation of particular e-bike power units owing to severe combustion risks. Company officials explained at the time that budget limitations blocked a comprehensive retrieval effort.
In an unexpected development less than two months on, a blaze ignited at the warehouse linked to a Rad Power Bikes outlet in Huntington Beach, California. A spokesperson for the brand shared with Engadget: "Our team is partnering with area investigators to examine a heat event at the Huntington Beach site late Sunday. The matter was swiftly managed, taking place after closing hours. The source of the blaze remains under review."