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--- transportation:rad [2025/03/10 22:37] – [Company] timb
+++ transportation:rad [2026/03/06 22:29] (current) – [Bankruptcy 2025] timb
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 https://techcrunch.com/2025/03/10/rad-power-bikes-ceo-steps-down/
+==== Bankruptcy 2025 ====
+== Rad Power Bikes faces shutdown in January without new funding ==
+Sean O'Kane & Kirsten Korosec - 1:14 PM PST November 10, 2025
+Rad Power Bikes has informed its employees that it will shut down in January if it is unable to find new funding or get acquired, according to an internal staff email viewed by TechCrunch.
+The company’s leadership is “still fighting to find ways to continue,” and “the cessation of Rad’s operations is not a forgone conclusion,” according to the email, which was sent by Rad Power’s “people team.” Rad Power employees were told there had been a “very promising” option to keep the company alive that “appeared to be likely to close,” but the deal — which was not specified in the email — “did not come to fruition.”
+“Rad is nothing without its people and wants to ensure that all employees are taken care of and provided for to the fullest extent feasible. Executive leaders are hopeful that a viable solution will be found to ensure that Rad team members remain gainfully employed for the foreseeable future. However, to be fully transparent, despite our collective efforts, it is possible that this may not happen, and Rad may be forced to cease operations,” the email reads. GeekWire was first to report the contents of the email.
+Seattle-based Rad Power has gone through multiple rounds of layoffs over the last few years coming out of the pandemic. While the early pandemic days were a boon to micromobility companies like Rad Power, a “sudden drop in consumer demand” left the company saddled with excess inventory, according to the email viewed by TechCrunch. “Rad continues to face significant financial challenges, including in the form of tariffs and the macroeconomic landscape.”
+https://techcrunch.com/2025/11/10/rad-power-bikes-faces-shutdown-in-january-without-new-funding/
+== Rad Power Bikes files for bankruptcy and is looking to sell the business ==
+Sean O'Kane - 9:28 AM PST December 17, 2025
+Electric bike company Rad Power Bikes filed for Chapter 11 bankruptcy protection on Monday, weeks after it warned employees that it could shut down without new funding.
+The company will continue to operate while the bankruptcy case proceeds, and it’s looking to sell the business within 45-60 days, a spokesperson told TechCrunch.
+“This step allows us to keep operating in the ordinary course of business while we pursue the best possible outcome for the people who rely on Rad every day,” they said in a statement. “Our goal is to keep the company intact and preserve the relationships we have built with riders, vendors, suppliers, and partners.”
+Rad Power is the latest in a series of e-bike companies from around the world to go through bankruptcy after pandemic-era excitement for the category wore off. Some of those companies have re-emerged, though, with VanMoof and Cake finding new owners during their respective court-led restructuring processes.
+Rad itself had told employees in November that there had been a “very promising” option to keep the company afloat that was “likely to close,” but the deal fell apart. The company has not shared more details about that potential deal.
+https://techcrunch.com/2025/12/17/rad-power-bikes-files-for-bankruptcy-and-is-looking-to-sell-the-business/
+== Rad Power Bikes files for bankruptcy and is looking to sell the business ==
+Sean O'Kane - Wed, December 17, 2025 at 9:28 AM PST
+Electric bike company Rad Power Bikes filed for Chapter 11 bankruptcy protection on Monday, weeks after it warned employees that it could shut down without new funding.
+The company will continue to operate while the bankruptcy case proceeds, and it’s looking to sell the business within 45-60 days, a spokesperson told TechCrunch.
+“This step allows us to keep operating in the ordinary course of business while we pursue the best possible outcome for the people who rely on Rad every day,” they said in a statement. “Our goal is to keep the company intact and preserve the relationships we have built with riders, vendors, suppliers, and partners.”
+Rad Power is the latest in a series of e-bike companies from around the world to go through bankruptcy after pandemic-era excitement for the category wore off. Some of those companies have re-emerged, though, with VanMoof and Cake finding new owners during their respective court-led restructuring processes.
+https://finance.yahoo.com/news/rad-power-bikes-files-bankruptcy-172850412.html
+== Rad Power Bikes reaches deal to sell itself for $13.2M ==
+Sean O'Kane - 11:56 AM PST January 26, 2026
+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 entering the bankruptcy process.
+Florida-based Life EV bills itself as a “developer, manufacturer, and distributor in the light electric vehicle industry.” It offers a number of electric bikes for sale on its website, although most of them were labeled as “sold out” at the time this article was published.
+A filing to the bankruptcy docket over the weekend shows that five entities participated in an auction on the Rad Power assets on January 22. The first bid came in at $8 million, and parties traded bids until Life Electric Vehicles came away as the winner. When accounting for Rad Power’s liabilities, the total value of the bid is $14.9 million.
+Another e-bike company called Retrospec had the second-highest bid of $13 million and is being labeled as the “backup bidder” in case the deal with Life EV falls through. The bids were a steep discount to Rad Power’s peak $1.65 billion valuation, which was reached in October 2021, per PitchBook. The company has raised a total of $329.2 million, according to PitchBook data.
+https://techcrunch.com/2026/01/26/rad-power-bikes-reaches-deal-to-sell-itself-for-13-2-million/
+== Rad Power Bikes reaches deal to sell itself for $13.2M ==
+Sean O'Kane - Mon, January 26, 2026 at 11:56 AM PST
+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 entering the bankruptcy process.
+Florida-based Life EV bills itself as a “developer, manufacturer, and distributor in the light electric vehicle industry.” It offers a number of electric bikes for sale on its website, although most of them were labeled as “sold out” at the time this article was published.
+A filing to the bankruptcy docket over the weekend shows that five entities participated in an auction on the Rad Power assets on January 22. The first bid came in at $8 million, and parties traded bids until Life Electric Vehicles came away as the winner. When accounting for Rad Power’s liabilities, the total value of the bid is $14.9 million.
+Another e-bike company called Retrospec had the second-highest bid of $13 million and is being labeled as the “backup bidder” in case the deal with Life EV falls through. The bids were a steep discount to Rad Power’s peak $1.65 billion valuation, which was reached in October 2021, per PitchBook. The company has raised a total of $329.2 million, according to PitchBook data.
+https://finance.yahoo.com/news/rad-power-bikes-reaches-deal-195633790.html
+== Rad Power Bikes gets a new owner, pledge to build bikes in the US ==
+Life EV has completed the acquisition of the well-known e-bike brand, which recently filed for bankruptcy.
+Matt Tate - Fri, March 6, 2026 at 6:46 AM PST
+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 and passionate rider community," said Life EV CEO, Rob Provost. "Respecting and preserving that legacy - its brand, vision, and leadership - is foundational to this acquisition. Together, we will build on that trust and create new opportunities for riders nationwide."
+https://www.engadget.com/transportation/rad-power-bikes-gets-a-new-owner-pledge-to-build-bikes-in-the-us-144641940.html
+== Life EV officially owns Rad Power Bikes now ==
+Kirsten Korosec - 1:56 PM PST March 6, 2026
+Life Electric Vehicles Holdings, also known as Life EV, officially owns the intellectual property, inventory, and certain operating assets of Rad Power Bikes. Life EV acquired Rad Power for $13.2 million.
+Rad Power Bikes, a buzzy electric bike company that raised nearly $330 million in venture capital, filed for Chapter 11 bankruptcy protection in December. The company had struggled for months prior to its bankruptcy filing, and had warned employees it might have to shut down without new capital.
+Life EV intends to keep the company intact and said it will continue retail operations under the Rad Power Bikes brand in the United States. It also plans to expand the retail footprint in select key markets. Life EV also pledged to support existing customers who might be wondering what would become of their bike warranties or even gift cards.
+https://techcrunch.com/2026/03/06/life-ev-officially-owns-rad-power-bikes-now/
+==== Fire 2026 ====
+== Rad Power Bikes warehouse catches fire following flammable battery warnings ==
+It comes one month after the company filed for Chapter 11 bankruptcy protections.
+Sarah Fielding - Updated Tue, January 20, 2026 at 8:08 AM PST
+In a strange twist of fate, a fire broke out this week at the Rad Power Bikes retail store warehouse in Huntington Beach, California, Electrek reports. The structural blaze came less than two months after the Consumer Product Safety Commission (CPSC) warned customers to "immediately stop" using and dispose of some of the company's e-bike batteries due to fire hazard. In December, Rad filed for Chapter 11 bankruptcy protection, stating it couldn't afford to recall the batteries.
+"We’re working with local authorities to review a thermal incident that occurred at our Huntington Beach store Sunday evening," a Rad Power Bikes spokesperson told Engadget. "The incident was contained and happened while the store was closed. The cause of the fire has not been confirmed."
+The recent two-alarm fire hit a commercial complex with multiple businesses. Footage from the fire shows e-bikes outside of the warehouse as firemen fought the blaze. Engadget has reached out to Rad for more information on the fire's impact.
+https://www.engadget.com/transportation/rad-power-bikes-warehouse-catches-fire-following-flammable-battery-warnings-133056542.html