Life Electric Vehicles set to acquire Rad Power Bikes for $13.2 million
January 27, 2026
Life Electric Vehicles Holdings Inc. is expected to acquire Rad Power Bikes’ assets for $13.2 million, outbidding four other companies during an auction for the e-bike brand that declared Chapter 11 bankruptcy protection last month.
Based in Deerfield Beach, Florida, Life EV agreed to acquire Rad Power’s assets for $13,276,102 in cash. After accounting for liabilities, the total purchase price is $14,926,706. Retrospec, listed in the U.S. Bankruptcy Court Eastern District of Washington document as Xander Bicycle Corporation, is the backup bidder with a bid of $13 million. The acquisition is expected to close on Feb. 13 and no later than Feb. 27. Bicycle Retailer
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