Rad Power Bikes to close UK and European operations

Rad Power Bikes is set to close its UK and EU operation at the end of this year to focus on the American market.

In a statement released on its website titled “we are sad to say goodbye”, the company’s CEO Phil Molyneux detailed how an in-depth business evaluation made it clear the move was necessary.

Molyneux, who succeeded founder Mike Radenbaugh in November last year, said: “After an extensive review of potential scenarios, it has become apparent that in order to sustain our competitive edge and achieve long-term success, we must close our operations in Europe and focus our resources and efforts on growing our North American operations.

“For now and the next several months, it is business as usual, and we are fully available to you for test rides, questions and service needs as well as ample stock of our award-winning e-bikes available.”

The brand will retain European service partners and an online help centre. Rad Power currently has a service centre in Utrecht, Netherlands, and also test ride locations at bike shops in London, Dublin, Amsterdam and Berlin.

Molyneux added: “Doing right by you is our ultimate goal and we are putting plans in place to ensure the ongoing availability of service, spare parts, and accessories to keep you riding.

“We will continue to update you on our efforts to ensure you will enjoy riding Rad for many years to come.

“We are so grateful to you for being a part of our community.”

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In recent years, Rad Power has reduced its workforce with multiple rounds of redundancies.

The most recent in April this year saw an unconfirmed number of staff leave.

In April 2022, Rad Power let go of 100 employees, and in July of last year, another 63.

In November 2021, Rad Power announced $154 million in funding from existing investors to supercharge its global efforts to get more people out of cars and onto e-bikes.