Life EV officially owns Rad Power Bikes now
Source: TechCrunch
Image Credits: David Ryder/Bloomberg / Getty Images
In Brief
Life Electric Vehicles Holdings, also known as Life EV, officially owns the intellectual property, inventory, and certain operating assets of Rad Power Bikes. Life EV acquired Rad Power for $13.2 million (source).
Background on Rad Power Bikes
Rad Power Bikes, a once‑buzzed electric‑bike company that raised nearly $330 million in venture capital, filed for Chapter 11 bankruptcy protection in December 2025 (source). The company had struggled for months prior to the filing and had warned employees it might have to shut down without new capital (source).
Future Plans
- Life EV intends to keep the company intact and will continue retail operations under the Rad Power Bikes brand in the United States.
- The firm plans to expand the retail footprint in select key markets.
- Life EV has pledged to support existing customers, addressing concerns about bike warranties and gift cards.
About Life EV
The Florida‑based Life EV builds its business by acquiring, developing, and scaling electric‑bicycle and micro‑mobility brands. While Rad Power is its highest‑profile purchase, Life EV also holds an equity interest in LEV Manufacturing, Inc., the owner of the Serial 1 premium electric‑bicycle brand originally developed and spun off from Harley‑Davidson.
“The acquisition fits into our broader strategy of expansion across North America.” – Life EV statement