The company's president, Phil Molyneux, will take over as CEO and navigate the choppy waters as they approach a new year. There were eight injuries including reports of arm and wrist fractures, road rash, cuts and bruises. Rad Power Bikes denies the claim, however, confident that the fire did not originate in a Rad e-bike battery, charger or any other Rad product.Īnd then, just last month, Rad Power Bikes, in collaboration with the US Consumer Product Safety Commission, issued a recall of its RadWagon model for faulty rim strips and tires.Īt the time of the recall, the firm had received 137 reports of tires blowing out, deflating and separating from the sidewalls. Then in August, Rad Power Bikes was presented with a wrongful death lawsuit by the parents of a 12-year-old girl who died from injuries sustained after riding on the back of a RadRunner e-bike in 2021.Ī second lawsuit followed in October in which a Rad Power Bike battery or charger was claimed to have been the cause behind a house fire that caused significant property damage. Citing growth strategy and business restructuring, 100 employees were let go.Ī second round of layoffs followed in July with the company downsizing by another 10 precent, this time citing economic uncertainty and rising operating costs. Rad Power Bikes is a leading consumer-direct ebike manufacturer specializing in high quality yet affordable electric bikes for weekend warriors, hardcore commuters, and family cyclists.

Riding the pandemic- and climate-related tailwinds, the Seattle-based company started the year among the fastest growing bike companies in North America with some $329 million in investments and more than 550,000 customers world-wide.īut in April 2022, the first round of layoffs indicated that perhaps the company had grown too quickly. Rad Power Bikes has been one of the fastest-growing e-bike brands in the U.S. The launch and third round of layoffs are the first big company moves since Mike Radenbaugh announced he'd be stepping down from his CEO role after 15 years at the helm mere weeks ago.

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