Industry News

NOVATO, Calif. (BRAIN) — Veer hopes to raise as much as $1.1 million. It will use proceeds to boost production and finalize the development of a new multi-speed belt drive.

E-bikes now represent 26% of the group's revenues.

TAICHUNG, Taiwan (BRAIN) — Giant Group is reporting that its sales last year were up 10.3% over 2019, to NT$70.01 billion ($2.45 billion). Net profit was up 46.7%, to NT$4.95 billion. Earnings per share was NT$13.19. 

Tagged Electric bike / Earnings/Financial Reports

The campaign includes special packaging and QR codes that can confirm a product is authentic.

Fruita festival riding. Photo: Mattias Fredriksson.

FRUITA, Colo. (BRAIN) — While COVID-19 precautions are relaxing in some areas, allowing some bike festivals to get back on the calendar, a lack of demo bikes might change the complexion of some events.

Tagged Consumer Expos and Rides / Sea Otter Classic / Tradeshows and conferences / The Big Gear Show

CHICAGO (BRAIN) — Organizers of the CABDA Expo announced on Friday that their 2021 expo series will be hosted as "hybrid events," with show activities taking place both in-person and virtually on the show's new online platform, CABDA Connect.

Tagged CABDA
Speakers from Thousand Helmets, Rad Power Bikes, SRAM, HED, Jenson and more highlight the event.

BOULDER, Colo. (BRAIN) — The Bicycle Leadership Conference, the PeopleForBikes-owned virtual event, has released its agenda, which includes speakers and panelists from a wide array of companies and organizations.

Tagged Bicycle Leadership Conference

Bike-share programs are poised for a post-pandemic boom, but over-saturation remains a danger.

Tagged Electric bike

CAPE TOWN, South Africa (BRAIN) — Leatt Corporation, a protective gear maker for mountain bikers and motorcyclists, saw record revenues and earnings in its fourth quarter and for its full-year 2020.

Tagged Earnings/Financial Reports
Washington's Capitol building.

OLYMPIA, Wash. (BRAIN) — A Washington state Senate committee is holding a hearing Tuesday on a bill that would exempt e-bikes from the state's 6.5% sales tax.

The legislation is one of several e-bike subsidies being deliberated by state and federal lawmakers this year.

Tagged Electric bike
SRAM claims that PCW is infringing on its patent for a rim shape inspired by a humpback whale flipper.
A photo of a Princeton Carbon Wheelworks wheel from the SRAM complaint.

CHICAGO (BRAIN) — SRAM Inc. is suing Princeton Carbon Works, Inc. for patent infringement. SRAM says that the wavy rim shape on Princeton's carbon road wheels infringes on its patent for a rim shape inspired in part by a humpback whale flipper.

MONTRÉAL (BRAIN) — Dorel Industries Inc. said Friday it will sell one of its Chinese manufacturing facilities for juvenile products to the Guangdong Roadmate Group Co. for $51 million.

UPDATED
Eminent launched the Onset MT model last April.

SAN MARCOS, Calif. (BRAIN) — Mountain bike brand Eminent Cycles, LLC has filed for Chapter 11 bankruptcy protection.

DENTON, Texas (BRAIN) — Bunch Bikes, a D2C cargo bike brand, will appear on ABC's Shark Tank in an episode that will air March 26.

Bunch Bikes founder and CEO Aaron Powell will pitch his company to the show's "shark" investors. 

Company goes outdoor to promote its new e-bike model.
Cannondale's Adventure Neo electronic billboard in Times Square.

WILTON, Conn. (BRAIN) — Cannondale unveiled a series of billboards in high traffic locations in four cities to tout its newest e-bike line and the benefits of cycling from a green transportation and health and fitness perspective.

Tagged Electric bike

ŠUMPERK, Czech Republic (BRAIN) — The Hermann Hartje KG e-bike distributorship opened a new factory in the Czech Republic to expand its assembly and manufacturing capabilities.

Tagged Electric bike
Dorel says supply constraints, increased shipping costs and CSG's switch to calendar-year models impacted Q4 profits.

MONTRÉAL (BRAIN) — Dorel Sports recorded a 14% sales increase in its fourth fiscal quarter and a 15% increase for its full fiscal year, which ended Dec. 30. Dorel Sports is the division of Dorel Industries that holds its bike brands, including Cannondale, Schwinn, GT and others.

Tagged Supply chain / Earnings/Financial Reports
Bill also introduced to extend loan assistance until May 31.

WASHINGTON (BRAIN) — The Paycheck Protection Program received an additional $7.25 billion as part of the passing of the American Rescue Plan Act on Thursday.

Charles T. Brown

BOULDER, Colo. (BRAIN) — Engaging and encouraging marginalized communities and investing in infrastructure will grow cycling and make it more inclusive, according to a new study commissioned by PeopleForBikes.

Tagged DEI and Sustainability

WASHINGTON (BRAIN) — The Small Business Administration granted 20% more Paycheck Protection Program loans to minority-owned businesses and 14% more to women-owned businesses during its 14-day period when nonprofits and those with fewer than 20 employees received exclusive access.

Tagged Coronavirus / DEI and Sustainability

PITTSBURGH (BRAIN) — Dick's Sporting Goods reported fourth-quarter net sales increased 19.8% year-over-year, driven by e-commerce and consolidated same store sales. For the year, net sales grew 9.5% over 2019.

Tagged Earnings/Financial Reports

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