World
Taipei Cycle Combines Physical and Virtual Expos For First Time
Taipei, Taiwan One of the world’s biggest B2B cycling gatherings, Taipei Cycle, is preparing to go ‘hybrid’ in March, combining physical and virtual exhibitions for the first time. The annual expo has been held exclusively as an online event for the past two years after the COVID pandemic caused the cancellation of the 2020 and…
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…
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…
Lithuanian Factory Continues Pon.Bike Growth
Kėdainiai, Lithuania Dutch bike giant Pon.Bike has announced it will build a new factory Lithuania, as the company steps up its production capacity in a number of countries. The Lithuanian factory is scheduled to open in 2024 and will be capable of scaling up to produce 600,000 bikes annually for several of its brands, including…
Which Bike Company is the Most Valuable?
Wollongong, NSW Bike Europe recently published a table – sourced and updated for many years by journalist Jo Beckendorff – of 45 bicycle-related companies around the world that were listed on a stock exchange as at the end of 2021. With so much money flooding into the bike industry, more outside investors than ever are…
Industry Demands Crackdown on “Bikes Built to Fail”
Denver, US An alliance of US bike stores, mechanics and cycling advocates has launched a campaign to end the manufacture of what they call “built-to-fail bicycles”. The campaign, spearheaded by the program director of Denver-based cycling advocacy group Bikes Together, includes an online petition calling upon cycling industry manufacturers to “stop producing and selling bikes…
Western Congestion Slowing Global Shipping
Hamburg, Germany Port congestion in Europe and the US is continuing to impede the recovery of global shipping supplies, at a time when turnaround times for containers in China have reached an all-time low, according to a report by the world’s leading logistics technology company. As the rush to get exports to buyers escalated last…
Felt Bicycles Sold
Rancho Santa Margarita, California, USA Felt Bicycles has celebrated its recent acquisition by Austrian company Pierer Mobility as the “most significant milestone” in the 30-year history of the Californian bike manufacturer. “We join forces with a new partner that, like us, has long championed cutting-edge innovation, obsessed over the world’s finest product design and is,…