Posts tagged e-bikes
VanMoof and Rad Power Bikes Face Challenges
July 17, 2023 10:51am
by
rob
E-bike sales were up a whopping 240% last year, but some companies have clearly grown too fast and are now faltering. Rad Power Bikes' struggles have been well publicized, and they recently announced they are pulling out of Europe. And now VanMoof has filed for insolvency in the Netherlands.
What do these companies have in common? A lot of venture capital funding, plus little in the way of bike industry knowledge or experience. The VanMoof media kit even touted their "lack of background in the bike industry."
So who is doing it right? What are the e-bike companies to watch? I'll bet on companies founded by folks who have already been successful in the bike business. Like Tern, started by the owners of Dahon folding bikes. Or Benno Bikes, launched by the founder of Electra. Both companies are building quality products that customers want, and growing at a slow and sustainable rate.
What do these companies have in common? A lot of venture capital funding, plus little in the way of bike industry knowledge or experience. The VanMoof media kit even touted their "lack of background in the bike industry."
So who is doing it right? What are the e-bike companies to watch? I'll bet on companies founded by folks who have already been successful in the bike business. Like Tern, started by the owners of Dahon folding bikes. Or Benno Bikes, launched by the founder of Electra. Both companies are building quality products that customers want, and growing at a slow and sustainable rate.