World
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,…
CEO Reveals SRAM’s Pandemic World
Chicago, Illinois, US Demand has skyrocketed for SRAM products during the COVID pandemic, with increases of 100% or more for some lines, the company’s CEO, Ken Lousberg, has revealed in a recent CyclingTips Nerd Alert podcast. Ken disclosed that SRAM’s production capacity has also escalated sharply, more than doubling for a number of its products.…
E-Bike Incentives Promised in Build Back Better Bill
Washington, USA Financial assistance to buy e-bikes and to commute by bike have been included in the US Government’s Build Back Better (BBB) Bill, which was passed by the country’s lower house of parliament last month and includes a range of measures to address social services, welfare, infrastructure, climate change and the impact of COVID-19.…
European Union Agrees on Bike Tax Cuts
Brussels, Belgium Tax concessions for e-bikes and conventional bicycles could soon be implemented in European nations, following an agreement of the Council of the European Union this month. The agreement by the EU Council on December 7, on updated rules for Value-Added Tax (VAT), has opened the door for members states to introduce reduced rates…
Shimano’s Sales and Profits Soar Higher
Osaka, Japan The third quarter financial update from Shimano, for the first nine months of 2021 to 30th September 2021, has illustrated the world’s largest bicycle component supplier’s rush to fill a void in supply, with net sales in the nine months to September up 49.6%. That acceleration of trading saw the firm’s operating income…
Porsche Moves to Grab Majority Stake in Greyp Bikes
Zagreb, Croatia German high-performance car manufacturer Porsche is moving to increase its stake in Greyp Bikes, confirming it plans to acquire a majority stake in the Croatian company by the end of this year. The move, which is awaiting approval by regulatory bodies, continues an escalating trend in automotive companies buying into the bike industry,…