Life EV completes acquisition of Rad Power Bikes

Florida-based Life Electric Vehicles (Life EV) has completed its acquisition of the assets of Rad Power Bikes, the companies announced late last week. Rad Power Bikes sold in bankruptcy auction for US$13 millionThe proposed sale price is around 99% below Rad Power’s peak valuation and implies a roughly 96% wipeout for any investors who didn’t exit early.Escape CollectiveSuvi Loponen Life EV came out as the highest bidder in the January 2026 auction to purchase Rad Power's assets for US$13.3 million in cash, valued at about US$14.9 million after liabilities. The deal follows Rad Power's bankruptcy announcement in December 2025 and marks a dramatic reversal for the once popular e-bike brand, which at its peak was valued at more than US$1.6 billion. Life EV said it will continue operating the Rad Power Bikes brand in the US, support existing customers through warranty and gift card programs where applicable, and expand retail presence in selected markets. The company also plans to move Rad Power's bike production to the US, using the Foreign Trade Zone structure, which can postpone tariffs on imported parts until the finished bikes are sold or shipped.