World
$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,…
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.…