SEATTLE (BRAIN) — Life Electric Vehicles completed the court-approved acquisition of Rad Power Bikes, the Florida-based e-mobility company said Thursday.
Based in Deerfield Beach, Life EV agreed in December to acquire Rad Power's assets for $13,276,102 in cash, and after accounting for liabilities, the total purchase price was $14,926,706.
According to a Life EV news release, it said it will continue retail operations under the Rad Power Bikes brand in the U.S. and plans to expand the retail footprint in select key markets. It also will support Rad Power customers through post-closing customer programs, including honoring certain warranties and gift cards in accordance with the terms of the asset purchase agreement.
Rad Power's production will transition to the U.S., Life EV said, through affiliated manufacturing operations by using a Foreign Trade Zone structure. It also said components are expected to be sourced at the fabrication level from global suppliers, "enabling higher quality standards, improved pricing, and greater visibility into tariffs and supply chain risk.
"By aligning these capabilities, Life EV aims to reduce overhead, streamline production, and deliver more consistent, high-quality e-bikes across its portfolio while supporting the growth of domestic manufacturing capabilities."
Rad Power has manufactured its models in Taiwan, China, and Southeast Asia. Less than a month before filing for bankruptcy, Rad Power said it could not afford a recall on some of its older lithium-ion batteries that the Consumer Product Safety Commission declared unsafe.
"This marks an important new chapter for the Rad Power Bikes brand," said Jim Brown, Life EV president. "We respect the foundation that has been built and are committed to strengthening operations, enhancing product development, and supporting the rider community for the long term."
In 2023, Life EV acquired the Serial 1 e-bike brand, which was founded by Harley-Davidson. Serial 1 was developed by Harley-Davidson and then spun off into a separate division in 2021.
Established in 2018, Life EV has a factory-direct showroom and offers test rides by appointment. All e-bikes are sold direct-to-consumer and built at its 31,000-square-foot facility in South Florida. Its models range in price from $1,999-$2,399.
"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."
