REDDITCH, UK - The latest seven weekly set of figures from the UK's leading cycle retailer Halfords shows annual profits for the 2020/21 financial year are expected to be in the range of £90-£100 million (€104-€115 million). These 'better-than-expected' figures are underpinned by spectacular cycling sales figures.
SUZHOU, China - Bafang is investing in a new facility for the development and production of high-end battery packs. 'Bafang New Energy' is the project name of the third wholly owned subsidiary in China created by the e-drive systems manufacturer.
OSAKA, Japan - In its financial statement of the first half of 2020 the Shimano Group reports a decline in sales of its bicycle component segment of 14.6%. From the same period of the previous year, bicycle components turnover slid to JPY 122,6 million (€992 million), and operating income was down 19.7% to JPY 22,96 million (€186 million).
OBERWANGEN, Switzerland - myStromer AG reports double-digit growth across its markets and the sale of over 12,000 speed pedelecs in 2019. According to a company statement, last year's sales exceeded targeted figures.
REDDITCH, UK - Halfords has released its latest update on its trading performance for the 20-week period to 16th August 2019. It shows retail cycling sales down 1.1 percent like-for-like compared to the same 20 week period in 2018.
ASSAMSTADT, Germany - With two newly developed integrable rechargeable batteries, Ansmann is expanding its broad product range offering designers and manufacturers of e-bikes. These new types of solutions offer standard applications for rapid and cost-effective implementation. Both can be realised and configured to individual customer requirements.
ZURICH, Switzerland - The latest news about Accell Group suggest that the company is doing everything it can to limit the damage that the recent sale of the heavily loss-making US operations has caused.
REUTLINGEN, Germany - Bosch eBike Systems and Magura announce a closer cooperation in service and replacement parts distribution. Bosch eBike Systems is taking a 50 percent stake in Magura Bike Parts, a subsidiary of Magura. The new joint venture will operate under the name Magura Bosch Parts & Services GmbH & Co. KG.
Financial markets as well as analysts are responding to the yesterday announced sale of its U.S. activities by Accell Group as 'good news'. They are glad that Europe's biggest in e-bikes has been able to get rid of its troublesome subsidiary that showed rapidly growing losses.
SANGERHAUSEN, Germany - The latest ruling of the court of appeal in the Germany city of Naumberg is likely to improve the insolvency rate for MIFA AG creditors.
ANNECY, France - Component manufacturer Mavic has announced a change in its market strategy. To improve its presence on the OEM market again, component manufacturer Mavic opened a facility in the US and has hired experienced François Joly as OEM business unit manager.
KASSEL, Germany - After company founder Bernhard Rohloff passed away in May the shareholders of Rohloff AG have now appointed a new supervisory board. The new board of the internal gear shifting expert now consists of Katja Lubitz, Constantin Ziehe and Ernst Brust.
RAUBLING, Germany - Iko Sportartikel Handels GmbH - first better known as Iko-Corratec and with the success of its bicycle brand now known as Corratec - has strengthened its management team with an experienced chief operating officer (COO). An industry outsider, Jochen Vogt aims to "change from a manufacturer with individual assembly to a series producer with line production."
COLOGNE, Germany - Europe's largest bicycle dealer cooperative ZEG has hired industry veteran Jens Stahlschmidt as new member of the board of directors. In the announcement ZEG writes "to prepare for the future" with this decision.
HARD, Austria - The company shareholders of Austria's second-largest bicycle manufacturer Simplon Fahrrad GmbH have appointed Stephan Wabnegger as managing director with immediate effect. In a rather surprising move for outsiders, the previous managing director duo, consisting of CEO Stefan Vollbach and COO Thomas Zenker, are resigning from their corporate functions and will leave the company.
ZEIST, the Netherlands - The e-bike industry has been affected by the dramatic supply chain crisis due to automotive chip shortages, largely caused by Covid-19 and other socio-economic factors. This has resulted in difficulty in sourcing smart BMS's with automotive components at reasonable prices.
LUTON, England - European e-scooter provider, Voi Technology, has signed a partnership with a UK-based waste management company to safely dispose and recycle end-of-life batteries from its electric vehicles.
FRANKFURT, Germany - Energy storage, raw material prices, dependence on China, these were some of the issues addressed by Sven Bauer, CEO and Founder of BMZ during his keynote presentation during the Battery Experts Forum held in Frankfurt last week. However, supply chain shortages which have also gripped the e-bike industry was also high on the agenda.
BRUSSELS, Belgium - LEVA-EU board member, Eddie Eccleston has been appointed to the Small Business Standards (SBS) organisation. In this position as SBS-expert, he will help drive better rules for LEV manufacturers operating in the European Union.
HEERENVEEN, the Netherlands - Accell Group has announced the appointment of Thierry Cornec as Regional Director South Europe, effective July 16th, 2020. He will be in charge of the operations in the region which includes France, Spain, Portugal and Italy.
