Life EV Revives Rad Power Bikes with US Manufacturing Pledge After Bankruptcy and Fire Incidents A major American e-bike brand has been rescued from bankruptcy. Florida-based Life EV has successfully completed a court-approved acquisition of Rad Power Bikes, saving the troubled company. The deal grants Life EV ownership of the Rad brand, its intellectual property, inventory, and key operating assets. The new owner plans to continue operating under the Rad Power Bikes name in the United States, with future expansion into select key international markets. A central pillar of the revival plan is a commitment to manufacturing new bikes domestically in the US. Life EV intends to utilize a Foreign Trade Zone structure for its manufacturing, which provides advantageous customs procedures when importing parts from global suppliers. In a move aimed at reassuring the existing customer base, Life EV has committed to honoring certain warranties and gift cards that were purchased prior to the acquisition. This is a critical step in rebuilding trust after a difficult period for the brand. Rad Power Bikes helped pioneer and define the e-bike market in North America, said Rob Provost, CEO of Life EV. He emphasized that respecting and preserving that legacy is foundational to the acquisition, stating the combined companies will build on that trust and create new opportunities for riders. The acquisition concludes a turbulent chapter for Rad. The company’s troubles escalated in December when it filed for Chapter 11 bankruptcy. This filing came shortly after the US Consumer Product Safety Commission issued a stark warning, urging customers to immediately stop using certain Rad e-bike batteries due to a serious fire hazard that risked injury or death. At that time, Rad stated it lacked the financial resources to conduct a recall of the problematic batteries. In a strange and unfortunate twist, less than two months after the battery warning, a fire broke out at a Rad Power Bikes retail store and warehouse in Huntington Beach, California. The incident occurred while the store was closed and was contained by authorities. A company spokesperson confirmed they were working with local officials to review the thermal incident, noting the cause of the fire had not been officially determined. This event further underscored the safety challenges facing the brand. With the acquisition now finalized, Life EV faces the dual task of revitalizing a well-known brand while navigating past safety concerns and implementing its new US-focused manufacturing strategy.
