Rad Power Bikes Sold to Life Electric Vehicles for $13.2M - What This Means for Owners By the Editorial Staff @ ebiking.us | Last Updated: February 2, 2026 If you own a Rad Power bike or were considering buying one, you've probably heard the news by now: Rad Power Bikes has been acquired by Life Electric Vehicles Holdings (Life EV) for $13.2 million following the company's Chapter 11 bankruptcy filing in December 2025. For a company that was once valued at $1.65 billion in October 2021 and has sold bikes to over 550,000 riders worldwide, this sale price represents a dramatic fall. But what does this actually mean for current Rad Power owners and the future of the brand? What Happened? On January 22, 2026, five companies participated in a bankruptcy auction for Rad Power's assets. The bidding started at $8 million and climbed from there, with Florida-based Life Electric Vehicles emerging as the winning bidder at $13.2 million ($14.9M including liabilities). The sale still requires final court approval at a hearing scheduled for January 30, 2026. Retrospec was the backup bidder at $13 million, meaning if the Life EV deal falls through, they would step in. Who is Life EV? Life Electric Vehicles bills itself as a "developer, manufacturer, and distributor in the light electric vehicle industry." They offer electric bikes on their website, though most models were listed as "sold out" when the acquisition was announced. The company's CEO, Robert Provost, has been tight-lipped about specific plans, only saying: "There is still a process underway and there is an exciting future being planned for Rad Power." What Led to This? Rad Power's decline mirrors the broader eBike industry's post-pandemic struggles: - Pandemic boom, post-pandemic bust: Like many eBike companies, Rad Power saw explosive growth during COVID-19 but struggled as that momentum dried up - Multiple layoffs in recent years as the company tried to cut costs - Four CEOs in three years: Founder Mike Radenbaugh (2007-2022), Phil Molyneaux (2022-25), Kathi Lentzsch (March-Dec 2025), and most recently Angelina Smith (Dec 2025-present) - Battery fire issues: The Consumer Product Safety Commission identified 31 reported fires tied to older Rad Power batteries, though the company disputed the CPSC's characterization.