OFFENBACH, Germany - Rumours had been swirling recently that another Germany e-bike manufacturer was facing financial problems, and this was confirmed yesterday when Advanced Bikes GmbH officially filed for insolvency. This insolvency reflects the problems the European industry is currently facing.
TAICHUNG, Taiwan - Mid 2024 Giant Group's sales trend seemed to have found a way up again, but this turned out to be only a short-lived revival. In July, Giant still expected operations to improve gradually, but the financial report published yesterday of the Q1-3 results show that a full recovery takes longer than expected.
NUNSPEET, The Netherlands - Once claiming to be market leader in the Netherlands, e-bike brand Stella is on the verge of bankruptcy. Despite repeated financial injections from its owner DMEP, the manufacturer has now filed for a payment extension. According to DMEP, Stella can no longer achieve sustainable profitability in its current form and requires a "substantial" capital injection.
HEERENVEEN, the Netherlands - Accell Group can proceed with the restructuring of its financial position as it secured sufficient support from its key stakeholders. "The implementation of the recapitalization will create a sustainable financial and operational platform to execute our strategy," reported the company today. "Approximately 80% of our senior term and revolving facility lenders have committed their support for the recapitalisation, while other key creditors unanimously back the plan."
GURUGRAM, India - E-bike and e-scooter manufacturer Hero Electric is entering a troubling phase as its dealers seek settlement of pending dues equivalent to around INR 5 billion (€270 million).
LONDON, UK - Award-winning e-bike brand Gocycle has started a crowdfunding campaign to launch its new range of urban folding bikes. Founder and CEO of Gocycle owner Karbon Kinetics Ltd Richard Thorpe explains why he turned to this tentative way of funding, having founded the company already in 2002. "Institutional capital has fled most industries including bike companies, as well as small innovators like Gocycle."
BRUSSELS, Belgium - The omnichannel brand Cowboy has announced a new strategic investor. Cypress Capital is leading a €5 million financing round supported by existing investors. Hongkong based Cypress Capital invested €3 million while other existing Cowboy partners Index Ventures, Hardware Club, Future Positive Capital, Isomer, and Exor together invested another €2 million.
WELS, Austria - According to Pierer Mobility AG volatile and difficult economic conditions led to a negative first half 2024 result. The company also harmed itself with some short-term strategy changes after entering the bicycle and e-bike business. Now they have to pay the bill. In other words: drastic measures are being taken.
FRANKFURT, Germany - Apprenticeship years are not master years - Taiwan's electronics giant Darfon Electronics Corp. also learnt this when entering the European e-bike market. The first few years were difficult. Here and there adjustments by the quickly learning stock-listed company had to be made. This led to things significantly progressing in the last three years. Find out how here.
ROOSENDAAL, The Netherlands - Timyo, the Dutch-based company that designed, developed and jointly manufactured e-bikes under its brands Van Dijck, Keola and Muon, has been declared bankrupt this week. The company had been struggling with issues for some time, including technical defects in e-bike components. However, continuation of the Van Dijck and Muon brands is already in place.
