News
Honda Backs New Balance-Assist Scooter
Tokyo, Japan A new Japanese start-up with strong backing from the Honda Motor Company has unveiled a balance-assist e-scooter scheduled for release by the end of the year. Honda announced last week Striemo Inc. and its “one-person, three-wheeled electric micro-mobility product”, also called Striemo, had originated from the Honda New Business Creation Program, IGNITION. A…
KKR and Accell Waive Condition for Acquisition to Proceed
New York, US A KKR-led consortium bid to purchase one of the world’s biggest bike manufacturers, Accell Group, moved another step forward this month, with both parties agreeing to waive a previous condition for the sale to proceed. The consortium and Accell Group had initially set a condition that at least 80% of Accell shares…
Expo Booth Sales Off and Racing at Randwick
Randwick, NSW Expo booth sales for the 2022 Micromobility Conference and Expo are off to a strong start since their release last month. “We’ve sold approximately one quarter of the total available floorspace in the opening weeks,” said the event’s co-founder, Phil Latz. “Some of the first companies to put their hand up for booth…
Battery Industry Unprepared for Demand Tsunami: Says US Report
Boulder, US The global battery industry is not ready for an impending “tsunami of demand” set to bring a surge in electric vehicle battery costs during the next four years, according to a study by US research firm E Source. A scarcity of key raw materials needed to make EV battery cells is expected to…
Porsche Completes Fazua Purchase
Ottobrunn, Germany Sports car manufacturer Porsche has escalated its stake in e-bike drive system specialist Fazua, purchasing all the company’s shares. Porsche had acquired a 20% stake in Fazua in January and last week announced it had claimed the remaining shares. Fazua’s prominence as a manufacturer of particularly light and compact drive systems was enhanced…
How’s Business? – June 2022
Welcome to our monthly chat with dealers across Australia and NZ. COVID continues to be a consistent theme in the day-to-day operations of bike stores, as its impacts enter their next phase and retailers discuss their current challenges and forecasts. A hangover from the heady, COVID-driven sales highs of the past two years appears to…
Hollows Foundation Partnership Inspired By Personal Insight
Melbourne, Victoria Melbourne-based e-bike importer TEBCO has announced a partnership with the Fred Hollows Foundation, inspired by managing director Tony Morgan’s personal experience with restorative eye surgery. TEBCO has pledged to provide $25 to the foundation for every e-bike and electric trike it sells – both wholesale and retail. “As little as $25 can restore…
Jai’s Giro Breakthrough Tipped to Lift WA Cycling
Perth, WA Australia’s breakthrough victory in the last month’s Giro d’Italia, as WA rider Jai Hindley claimed the General Classification, is set to bring a major boost for the bicycle industry in his home State, according to WA bike store owner and elite rider agent Wayne Evans. Wayne, a prominent figure in WA cycling for…
Igus Unveils First Bike Constructed Entirely From Recycled Plastic
Cologne, Germany The world’s first urban bike made entirely from recycled plastic has been unveiled by German company igus. The igus:bike, scheduled for release later this year, is being promoted as “tomorrow’s mobility from yesterday’s waste”. With recycled plastic used to construct everything from the frame to the bearings and toothed belt, igus says the…
Leading NZ Retailer Adds New Store in Wellington
Wellington, NZ NZ retailer Evo Cycles opened its 29th showroom recently and is already foreshadowing the creation of its 30th outlet. The country’s largest family-owned chain of bike stores launched its latest showroom at Wellington Central on 28th May, maintaining its exponential growth since its original store opened in Waikato in 2007. “The 30th Evo…