Florida-based Life EV has completed a court-approved acquisition of e-bike company Rad Power Bikes, which filed for bankruptcy in December. The new owner plans to build bikes in the US and honor existing warranties. This move follows safety issues that plagued the brand.
Life EV, a Florida-based company, has taken over Rad Power Bikes following a turbulent period for the e-bike manufacturer. The acquisition includes Rad's brand, intellectual property, inventory, and certain operating assets. Life EV intends to continue operations under the Rad Power Bikes name in the US and expand to select key markets.
The new owner has pledged to manufacture future bikes in the US, utilizing a Foreign Trade Zone structure to benefit from special customs procedures for imported parts. It will also honor warranties and gift cards bought before the acquisition.
"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."
Rad's challenges began in December when it filed for Chapter 11 bankruptcy. This followed a warning from the Consumer Product Safety Commission to immediately stop using certain e-bike batteries due to fire risks, which the company said it could not afford to recall.
Less than two months later, a fire occurred at a Rad Power Bikes retail store warehouse in Huntington Beach, California. "We’re working with local authorities to review a thermal incident that occurred at our Huntington Beach store Sunday evening," a Rad spokesperson told Engadget. "The incident was contained and happened while the store was closed. The cause of the fire has not been confirmed."
The acquisition, approved by the court, provides a path forward for the brand amid these safety concerns.
