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After half a decade of operations in Europe, Seattle-based Rad Energy Bikes is closing down its EU operations this yr. The corporate cited its intention to refocus on the North American market.
The corporate has been promoting its fashions in Europe since 2018, when its EU launch marked the entry of extensively reasonably priced electrical bikes into the market.
On the time, the RadWagon’s European entry was described because the “first high-powered longtail cargo e-bike to be out there within the European market.” The RadRover, which was launched because the RadRhino in Europe, additionally helped enhance the recognition of fats tire adventure-style e-bikes available in the market, equally to the American mannequin’s impact within the US market a number of years earlier.
The streets of Amsterdam and different European cities are stuffed with RadRunners and different e-bikes from Rad Energy Bikes, which I’ve personally seen zipping round on a number of of my latest EU journeys.
However all of that’s about to vary as Rad Energy Bikes publicizes that it’s pulling the plug on its European operations.
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Rad Energy Bikes is predicted to layoff its a number of dozen workers and stop European gross sales by 2024, as an alternative preferring to focus completely on the North American market.
As Rad Energy Bikes CEO Phil Molyneux defined:
“This transformation actually permits us to proceed to set the usual for the e-bike revolution in North America, which as you understand, that was our beginning place. And to proceed to have an actual laser deal with security, reliability, continued innovation, going into the longer term and the aspiration of delivering the best high quality merchandise at reasonably priced costs for our prospects.”
The transfer comes after Rad began the yr with a letter from Molyneux explaining that the corporate had “made errors” and promising a recommitment to security and assist for its prospects.
Rad has suffered a number of setbacks up to now two years, together with going through a number of lawsuits and several other rounds of layoffs.
The e-bike maker, lengthy thought-about to be the biggest within the US, may additionally be witnessing its title slip away as quickly rising Lectric Ebikes continues to spice up its gross sales. Neither firm shares its gross sales figures publicly, however trade information means that Lectric’s gross sales could rival or have even surpassed that of Rad’s.
Two areas the place Rad Energy Bikes maintains a commanding lead is within the measurement of its customer support group in addition to the breadth of its accent lineup. As the corporate refocuses its efforts completely on the North American market, each areas might develop into key linchpins in its technique.
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