As Bloomberg reports, Lime finally filed for an IPO on Friday, five years after it originally announced plans to go public. The Uber-backed micromobility company notes in its SEC filing that it intends to use the proceeds from the IPO to pay off debt.
The Infinite Machine Olto is fast, fun, and futuristic. I’m just not entirely sure what it is.
The first-of-its-kind rest stop, which includes e-bike battery recharging equipment, was erected in record time thanks to NYC Mayor Zohran Mamdani’s request to get it done in time for his first 100 days in office. Workers had to improvise a crane-lift because they didn’t have the right permit, and also deal with a misplaced electrical wire. But in the end, they finished it. (Hopefully future shelters will include bathrooms, though.)
[New York Times]
The company trying to become a “leading vertically integrated electric mobility platform in North America” says it will “support Rad riders through post-closing customer programs, including honoring certain warranties and gift cards.” It also plans to transition production of Rad Power-branded e-bikes to the US using components sourced globally.
[Life EV press release]
9
Verge Score
The sturdy CGO compact rides big and tucks away small.
Florida-based Life EV won the auction to buy the struggling e-bike brand last week, as reported by TechCrunch. The sale comes just a month after Rad Power Bikes filed for Chapter 11 bankruptcy protection, citing “significant financial challenges” and “the sudden drop in consumer demand” post-Covid in a letter to employees.
On his last day in office, Governor Phil Murphy signed into law a bill that will likely halt the widespread adoption of e-bikes in the state, limiting their utility as an effective car replacement and punishing those who would use them to reduce their own carbon footprints. The new law requires registration, license, and insurance for any e-bike regardless of its class or speed, effectively lumping low-speed pedal assist bikes in with high-powered electric motorcycles and dirt bikes. It’s the latest troubling sign for the growing e-bike movement in the US.
[NBC10 Philadelphia]
I tend to like my e-bikes simple and uncomplicated — the Also TM-B is anything but.
When the company introduced the TM-B e-bike in October, it said the Launch edition and Performance models would cost $4,500. We knew there would be a cheaper base model, but the price wasn’t announced at the time. Now we know it’ll be $3,500, but will only have 5x power assist and a 60-mile range.
A letter sent to employees warned that the company could be forced to close up shop in January if it can’t find more funding soon. A “very promising” deal to keep Rad alive was in the works, but unfortunately “did not come to fruition.”
“Rad continues to face significant financial challenges, including in the form of tariffs and the macroeconomic landscape.”
Weight can be a major factor in whether an e-bike makes sense for a certain customer, especially those that live in cities. With that in mind, here’s how Rivian’s new Also TM-B bike stacks up, as per a spokesperson:
The Also TM-B is a shapeshifting, pedal-by-wire, USB-C chargeable electric bike set to launch soon. But will the $4,500 price tag limit its appeal?
It’s due to be announced tomorrow by the company’s micromobility spinoff Also, with an initial focus on US and European audiences. You can read more over at Electrek.
7
Verge Score
My absolute favorite thing I own is a Flyer L885 electric cargo bike. It’s not the most powerful or most expensive, but it fits my lifestyle perfectly. I use it almost everyday to replace car trips, which is no easy task in a nation as car dependent as the US.
Check out this video about how cargo bikes are changing a lot of people’s lives for the better. Also: bike bus!
I’m sure you’ve seen the posts on Facebooks complaining about scofflaw teenagers on high-powered electric bikes. But the real culprit here is the outdated laws that allow manufacturers to market what are essentially high-speed electric motorcycles and mopeds as “e-bikes” by putting pedals on them. Berm Peak just put out a great video that gets at the crux of this freakout.
The boutique e-bike maker that squeaked through bikeaggeddon proclaiming it wouldn’t be the next VanMoof is reportedly in trouble. Deliveries and repairs are taking months, payments have been missed, and debt is mounting, according to De Tijd. Last week, the Belgian company missed a deadline to publish its annual figures.
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Verge Score
Customers that never received their expensive e-bike due to the company’s bankruptcy are being offered a discount on the resurrected company’s new — and seemingly much improved — S6 series, reducing the price to €2,298. Now that the new VanMoof is once again producing spare parts for its expanding network of European service partners, co-CEO Eliott Wertheimer told Bike Europe that he wanted “to help those who were let down by the old company and get them riding.”
