Life EV officially owns Rad Power Bikes now

Life Electric Vehicles Holdings (Life EV) has officially acquired Rad Power Bikes, including its intellectual property, inventory, and certain operating assets. The acquisition follows Rad Power Bikes' bankruptcy filing after months of financial struggles despite raising nearly $330 million in venture capital. Life EV purchased Rad Power in December and plans to maintain the brand’s retail operations in the United States while expanding its presence in select key markets. Life EV, based in Florida, specializes in acquiring and scaling electric bicycle and micro-mobility brands. Besides Rad Power Bikes, it holds an equity stake in LEV Manufacturing, which owns the Serial 1 premium electric bicycle brand originally developed by Harley-Davidson. Life EV emphasized that the acquisition aligns with its broader North American expansion strategy and committed to supporting existing Rad Power customers regarding warranties and gift cards.