Life EV officially owns Rad Power Bikes now

Core Insights - Life Electric Vehicles Holdings (Life EV) has acquired Rad Power Bikes for $13.2 million, gaining its intellectual property, inventory, and certain operating assets [1] - Rad Power Bikes had previously filed for Chapter 11 bankruptcy protection in December after struggling for months and warning employees about potential shutdowns without new capital [1] Group 1: Acquisition Details - Life EV intends to maintain the Rad Power Bikes brand and continue retail operations in the United States while expanding its retail presence in key markets [2] - The acquisition aligns with Life EV's broader strategy of expansion across North America [3] Group 2: Business Strategy - Life EV has built its business by acquiring and scaling electric bicycle and micro-mobility brands, with Rad Power being its most notable acquisition [3] - The company also holds an equity interest in LEV Manufacturing, which has acquired the Serial 1 premium electric bicycle brand originally developed by Harley-Davidson [3]