Business

Accell Group sees Fitch Rating drop for second time in months
HOOFDORP, the Netherlands - Citing "limited progress on addressing supply chain challenges, which has eroded liquidity headroom and led to deeply...

Pierer New Mobility dis-invests R Raymon
SCHWEINFURT, Germany - The absence of the brand R Raymon at the Pierer New Mobility booth at Eurobike 2023 was already a clear indication. The...

E-bike manufacturer Flyer lays off quarter of staff as sales drop
HUTTWIL, Switzerland - All market indicators have made clear that the bike boom of 2020-2021 is over and implications for the industry can be...

E-bike brand Cowboy marks first foray into profitability
BRUSSELS, Belgium - "July was notably our best sales month ever and first profitable month," Cowboy co-founder and CEO Adrien Roose has announced....

Pon-owned Swapfiets reports multi-million euro losses
ZEIST, Netherlands - The blue-tyred bicycle subscription service Swapfiets has been struggling in recent years. After a loss of €14 million in 2020...

Pon partners with VW to push bike leasing in Europe and US
MUNICH, Germany - Volkswagen Financial Services has acquired a 49% stake in Pon Holdings bike leasing subsidiary Bike Mobility Services (BMS). The...

BMZ acquires Austrian sports e-bike manufacturer Nox Cycles
KARLSTEIN AM MAIN, Germany - Lithium-ion battery specialist, BMZ Group, has acquired Nox Cycles Austria and all its sister companies in Germany and...

Two-wheeler giant KSR Group files for a court-supervised...
GEDERSDORF, Austria - Two-wheeled wholesaler and importer, KSR Group, has applied for a court-supervised restructuring procedure. Due to increased...

Pierer Mobility reports revenue increase despite difficulties in...
WELS, Austria - In the first six months of 2023, Pierer Mobility AG achieved a new record revenue of €1.39 million, up 20.2%, compared to 2022....

Ideal Bike sees double-digit revenue downshift in Q2
TAICHUNG, Taiwan - As the third in line after Giant and Merida, Ideal has also reported red figures for this year. While the bicycle manufacturer was...