News
Porsche Acquires Share of Fazua to Further Build e-Bike Involvement
Ottobrunn, Germany Porsche has further expanded its involvement in the rapidly growing e-bike market by acquiring a stake in drive systems manufacturer Fazua. Porsche is acquiring 20% of the shares in its fellow German company, with an option to purchase further shares which would allow Porsche to take over Fazua completely. Fazua, based in Ottobrunn…
$5.2 Million Financing Round for Repairable Battery Maker
Bordeaux, France A French company producing e-bike batteries that can be repaired in less than 10 minutes has raised €3.3 million (A$5.2 million) in a new financing round. The company, Gouach, plans to use the funds to boost its team of 15 people and market its eco-friendly battery to fleet operators and manufacturers in the…
Gogoro Joins Partnership for Indonesian Renewable Energy Ecosystem
Indonesia Taiwanese battery manufacturer Gogoro, a global leader in swappable battery platforms, has signed with the Indonesia Government and another Taiwanese company, Hon Hai Technology Group, to develop an “energy ecosystem” focusing on electric batteries, electric mobility, and associated industries. The venture – involving Gogoro, Hon Hai Technology Group, Indonesia Battery Corporation IBC and Indika…
Pushys Purchases Rival Online Retailer BikeBug
Canberra, ACT Canberra-based company Pushys has purchased another leading online cycling retailer, BikeBug, to accelerate its move into the premium market. Pushys co-owner Shane Wolki confirmed the sale – completed on 1st February for an undisclosed amount – included BikeBug and wholesale company FRF Sports, two companies owned by road cycling identity Frank Fortuna. He…
Specialized Introduces Consumer-Direct Sales in Australia
Port Melbourne, VIC Specialized Bicycle Components Australia is introducing ‘Ship to Home’ and ‘Specialized Delivery’ options for bikes purchased online. Its announcement of the new services last week came shortly after Specialized confirmed it was beginning consumer-direct sales in the US and UK for non-electric bikes. A spokesperson for Specialized Bicycle Components Australia said Specialized…
Wall Street Investor Pays a Record $2.5 Billion Cash for a Bicycle Company!
New York, US One of Europe’s largest bike conglomerates, Accell Group, is set to be purchased by New York-based investment firm KKR, in a €1.56 billion (A$2.527 billion) buyout that represents a 21% premium on Accell’s all-time highest stock market valuation. The companies late last month reached a conditional agreement on an all-cash public offer…
BikeExchange Eyes Latin America as Next Focus
Melbourne, Victoria Melbourne-based company BikeExchange has revealed plans to expand its operations in Latin America, outlining the strategy while unveiling a quarterly business update that shows healthy growth for the company in general. During an online presentation for investors and media late last month, BikeExchange Global CEO Mark Watkin said the company would acquire the…
Last Chance to Update your 2022 YearBook Listing – Do It Now!
Wollongong, NSW This month is your last opportunity to update your company details for the 2022 Latz Report YearBook and we have a new system up and running to make it easier. We only update Yearbook listings once a year, so please action this opportunity right now! All standard listings are free for any supplier…
How’s Business? February 2022
Australia and New Zealand Welcome to our first How’s Business column for 2022. Now that we’ve gone to twice-monthly newsletters, you’ll only see How’s Business in every second newsletter. With Omicron in full flight when we interviewed these shops in late January, our follow up question this month was, “In what ways has covid been…
influencers! interview with F.K. Day
Our sixth interview in the influencers! series is with F.K. Day, co-founder of SRAM and World Bicycle Relief. Of all F.K. Day’s fine attributes, one of the strongest themes that defines this interview is his genuine humility. Take a journey into the beginnings of SRAM, the SRAM Cycling Advocacy Fund and how the 2004 Indian…