Rad Power Bikes Sold for $13.2 Million
- rad Power Bikes finalized its sale to Life Electric Vehicles Holdings (Life EV) for approximately $13.2 million on December 17, 2025, following a period of financial challenges and...
- Rad Power Bikes, founded in 2015, quickly became a prominent player in the electric bike market, known for its affordable and accessible e-bikes. The company experienced rapid growth,...
- In March 2023, Rad Power Bikes announced it would be laying off 100 employees, or about 20% of its workforce.The Verge reported on the layoffs,citing a challenging...
Rad Power Bikes Acquisition by Life Electric Vehicles Holdings
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rad Power Bikes finalized its sale to Life Electric Vehicles Holdings (Life EV) for approximately $13.2 million on December 17, 2025, following a period of financial challenges and restructuring. This acquisition marks a significant shift for teh once-leading direct-to-consumer electric bike company.
Background on Rad Power Bikes
Rad Power Bikes, founded in 2015, quickly became a prominent player in the electric bike market, known for its affordable and accessible e-bikes. The company experienced rapid growth, but faced increasing competition and supply chain disruptions in recent years.These factors contributed to financial difficulties, leading to layoffs and a search for a buyer.
In March 2023, Rad Power Bikes announced it would be laying off 100 employees, or about 20% of its workforce.The Verge reported on the layoffs,citing a challenging economic climate and a slowdown in the e-bike market.
Details of the acquisition
The acquisition by Life EV, a portfolio company of Pono Capital, occurred through a court-approved sale process. TechCrunch details that the deal involved Rad Power Bikes filing for bankruptcy to facilitate the sale. The $13.2 million purchase price included the acquisition of rad Power Bikes’ intellectual property, inventory, and certain other assets.
Life EV intends to continue operating rad Power Bikes,leveraging its brand recognition and existing customer base. the company plans to invest in the brand and expand its product offerings.According to a press release from Pono Capital, Life EV aims to “reinvigorate the Rad Power Bikes brand and build upon its strong foundation.”
- Life Electric Vehicles Holdings (Life EV): The acquiring company, backed by Pono Capital.
- Pono Capital: The investment firm owning Life EV. Pono Capital’s website provides information about their investment strategy.
- Rad power Bikes: The acquired electric bike company.
- United States Bankruptcy Court for the Western District of Washington: The court overseeing the bankruptcy proceedings.
Current Status (as of January 26, 2026)
As of January 26, 2026, Rad Power Bikes continues to operate under the ownership of Life electric Vehicles Holdings. There have been no further major announcements regarding significant restructuring or changes in leadership since the December 17, 2025, acquisition. Life EV is reportedly focused on stabilizing the business and implementing its growth strategy. No new, confirmed information regarding the company’s financial performance or future plans has been released as of this date.