In a move that marks a definitive turning point for the North American e-bike market, Rad Power Bikes—once the “unicorn” poster child of the ebike boom—is being sold.
Following a Chapter 11 bankruptcy filing in December 2025, the Seattle-based company’s assets were put up for auction. The winning bidder? Life Electric Vehicles Holdings Inc. (Life EV), a South Florida-based company, which secured the assets with a bid of $13.2 million.
The Details of the Deal
The sale, which is pending final approval by a bankruptcy judge on January 30, 2026, includes almost everything that made Rad Power Bikes a household name:
- Inventory & IP: All remaining bikes, parts, trademarks, and patents.
- Operations: Equipment, software, and selected contracts/leases.
- Customer Support: Notably, Life EV is expected to assume certain liabilities, including warranty claims and gift cards, which will be a massive relief for the thousands of existing “Rad” riders.
The total value of the deal reaches approximately $14.9 million when accounting for assumed liabilities. If the deal with Life EV falls through, Retrospec (under Xander Bicycle Corporation) stands ready as the backup bidder.
A Rapid Fall from $1.65 Billion
It is difficult to overstate how quickly the tide turned. In 2021, Rad Power Bikes was valued at a staggering $1.65 billion after raising over $300 million in venture capital. They were the dominant force in the direct-to-consumer e-bike space, fueled by a massive surge in demand during the pandemic.
However, the post-pandemic landscape proved treacherous. Falling revenue (dropping from $129.8M in 2023 to just $63.3M in the first eleven months of 2025), coupled with high overhead and mounting debts, led to a December 2025 filing that listed $72.8 million in liabilities.
What Happens Next?
For Rad Power Bikes owners, the big question is whether the brand will survive. While Life EV will control the intellectual property, they have until March 2026 to decide which store leases and contracts to keep.
Whether Rad Power Bikes continues as a standalone brand or is folded into Life EV’s existing manufacturing operations remains to be seen. For now, this sale represents the closing of a major chapter in the e-bike “gold rush” and a sobering reminder of how quickly even the biggest industry leaders can be pedaling uphill.
What do you think? Can Life EV save the Rad brand, or is the era of the $2,000 DTC e-bike over? Let us know in the comments.