Rad Power Bikes is to pull out of Europe. The US firm says it will cease to sell its e-bikes to customers in the UK and the European Union in 2024.
Rad Power has been one of the fastest-growing e-bike brands in the world, manufacturing solid, great value bikes, several of which feature in our various buyer’s guides here at ebiketips.
The firm has however had its problems in recent times. It has had to cut jobs several times over the last couple of years and founder Mike Radenbaugh stepped down as CEO late last year.
It has also been involved in a lawsuit arising from the death of 12-year-old Molly Steinsapir who was fatally injured when the RadRunner 2 on which she was a passenger with her 11-year-old friend crashed while riding down a 14% hill in Los Angeles in January 2021.
Rad also had to issue a safety recall of nearly 30,000 RadWagons for misaligned tyres.
Writing on the Rad Power Bikes website, current CEO Phil Molyneux said: “Over the past several months, we have conducted an in-depth evaluation of our business globally to ensure that we are on a successful path.
“After an extensive review of potential scenarios, it has become apparent that in order to sustain our competitive edge and achieve long-term success, we must close our operations in Europe and focus our resources and efforts on growing our North American operations.”
The Verge reports that this decision will take effect next year.
Molyneux added: “Doing right by you is our ultimate goal and we are putting plans in place to ensure the ongoing availability of service, spare parts, and accessories to keep you riding. We will continue to update you on our efforts to ensure you will enjoy riding Rad for many years to come.”