Life EV acquires the e-bike pioneer’s assets for $13.2M, pledging to keep the brand alive and expand its retail presence.
Electric bike pioneer Rad Power Bikes has a new owner.
Life Electric Vehicles Holdings (Life EV) confirmed it has acquired the intellectual property, inventory, and key operating assets of Rad Power Bikes for $13.2 million, following the company’s Chapter 11 bankruptcy filing in December.
The deal marks a dramatic turn for a startup that once raised nearly $330 million in venture capital and was considered one of the most prominent players in the global e-bike boom.
A Lifeline After Months of Financial Trouble
Rad Power Bikes had struggled financially for months before filing for bankruptcy protection.
At the time, the company warned employees that it could shut down entirely without new capital.
The Chapter 11 process allowed Rad Power to restructure and sell its assets, ultimately leading to Life EV’s acquisition.
For many customers and employees, the sale answers the biggest question: Will Rad Power survive?
For now, the answer appears to be yes.
Life EV Plans to Keep the Brand Alive
Life EV says it will continue operating the business under the Rad Power Bikes brand in the United States.
The company also plans to:
- Maintain existing retail operations
- Expand the retail footprint in select markets
- Support existing customers, including honoring bike warranties and gift cards
That commitment could help reassure Rad Power’s large installed base of riders who depend on after-sales service and replacement parts.
A Strategy Built on Acquiring Micromobility Brands
The Rad Power deal fits into Life EV’s broader strategy of building a portfolio of electric mobility companies.
The Florida-based firm focuses on acquiring and scaling electric bicycle and micromobility brands.
Its existing holdings include an equity stake in:
- LEV Manufacturing, Inc.
LEV Manufacturing previously acquired Serial 1, a premium e-bike brand originally developed and spun off from Harley-Davidson.
With Rad Power joining that ecosystem, Life EV gains a well-known brand and customer base in the fast-growing e-bike sector.
From Venture Darling to Bankruptcy Sale
Rad Power Bikes was once among the most heavily funded e-bike startups in the world.
Over the years, it raised close to $330 million from investors eager to capitalize on the surge in electric bike demand during the pandemic-era micromobility boom.
But the broader e-bike market cooled as:
- Demand normalized after COVID-era surges
- Inventory piled up across the industry
- Companies struggled with high logistics and manufacturing costs
Many startups that expanded aggressively during the boom later faced shrinking margins and tighter capital markets.
Rad Power ultimately became one of the most visible casualties of that shift.
What Comes Next for Rad Power
Under Life EV’s ownership, Rad Power will likely focus on stabilizing operations and rebuilding sales rather than pursuing rapid expansion.
The company still holds strong brand recognition among urban commuters and recreational e-bike riders.
If Life EV succeeds, the acquisition could transform Rad Power from a venture-backed growth startup into a more traditional electric mobility brand focused on profitability.
TL;DR:
Life EV has acquired Rad Power Bikes’ assets for $13.2 million following the company’s bankruptcy. The new owner plans to continue operating the brand in the U.S., expand retail presence, and support existing warranties and customers, positioning the acquisition as part of its broader micromobility expansion strategy.
AI Summary:
- Life EV acquired Rad Power Bikes for $13.2M after bankruptcy.
- The company raised nearly $330M in venture funding before collapse.
- Life EV will keep the Rad Power brand and retail operations.
- Existing warranties and gift cards will be supported.
- The deal expands Life EV’s micromobility brand portfolio.
