FlatSix911
Well-Known Member
- Region
- USA
- City
- Silicon Valley
This is good news regarding the continued growth of affordable EBikes.
electrek.co
Rad Power Bikes has announced a large funding round that will see $150 million added to the industry-leading electric bicycle company’s coffers. Rad Power Bikes is the largest e-bike company in the US. Sales for 2020 are estimated to have topped 100,000 e-bikes and are growing quickly. Rad Power Bikes is expected to use the new funding to reinvest in maintaining its market dominance through further innovation in new e-bike models as well as by scaling the company’s retail presence and service offerings.
While the company mostly operates a direct-to-consumer model that has allowed it to offer industry-leading prices unmatched by typical bike shop e-bikes, Rad Power Bikes has spent the last few years increasing its retail and service footprint. The company’s Rad Mobile service, which uses vans outfitted as nearly full-service bicycle shops, has helped the company assuage service and support worries that typically plague most direct-to-consumer e-bike companies. I had the chance to test out the Rad Mobile service myself and was impressed to see how the company managed to bring a bike shop experience right to my driveway.
Rad Power Bikes tells us that the company expects to have retail and service coverage for 75% of its US customers by the end of 2021. A new showroom is expected to open in San Diego this spring. The company has been growing internally as well, increasing to 325 employees in 2020 and is expecting to double that number by the end of 2021.
Leading US electric bike company Rad Power Bikes lands massive $150M investment
Rad Power Bikes has announced a large funding round that will see $150 million added to the industry-leading electric bicycle...
electrek.co
Rad Power Bikes has announced a large funding round that will see $150 million added to the industry-leading electric bicycle company’s coffers. Rad Power Bikes is the largest e-bike company in the US. Sales for 2020 are estimated to have topped 100,000 e-bikes and are growing quickly. Rad Power Bikes is expected to use the new funding to reinvest in maintaining its market dominance through further innovation in new e-bike models as well as by scaling the company’s retail presence and service offerings.
While the company mostly operates a direct-to-consumer model that has allowed it to offer industry-leading prices unmatched by typical bike shop e-bikes, Rad Power Bikes has spent the last few years increasing its retail and service footprint. The company’s Rad Mobile service, which uses vans outfitted as nearly full-service bicycle shops, has helped the company assuage service and support worries that typically plague most direct-to-consumer e-bike companies. I had the chance to test out the Rad Mobile service myself and was impressed to see how the company managed to bring a bike shop experience right to my driveway.
Rad Power Bikes tells us that the company expects to have retail and service coverage for 75% of its US customers by the end of 2021. A new showroom is expected to open in San Diego this spring. The company has been growing internally as well, increasing to 325 employees in 2020 and is expecting to double that number by the end of 2021.
