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Stevie Bonifield
Life Electric Vehicles is buying Rad Power Bikes for $13.2 million.

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.

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