LUDHIANA, India - After Indian powertrain giant Hero Motors Ltd. withdrew its planned initial public offering (IPO) in October 2024 on short notice, a new attempt was made for 2026. Although no specific opening and closing dates or price band have been set at this time, the automotive supplier is expected to list this year, 2026. The company's high-profile partnerships with well-known e-bike brands have solidified its relevance in the e-bike world as a drivetrain manufacturer.

NEW YORK, United States - Fitch Ratings has reaffirmed Accell Group's long-term credit rating at 'CCC', indicating that the company remains under significant financial pressure. While Accell is making progress in its turnaround, its current position is still fragile, mainly due to weak market conditions, high debt levels and limited cash generation, the agency determined.

FRANKFURT, Germany - Having been in the hands of Brockhaus Technologies AG for the last four years, Bikeleasing Service GmbH has been sold to the investment arm of French retail giant Decathlon. With this step, BLS is looking to create a strong basis for further growth as well as the targeted international expansion of its successful company bike leasing model. Having tripled revenues under Brockhaus ownership, the purchase agreement provides for an enterprise valuation of Bikeleasing of €525 million according to Brockhaus.

GIVISIEZ, Switzerland - What a "gift": Just before Christmas, the arbitration tribunal of the International Chamber of Commerce (ICC) in Paris confirmed that long-time patron Beat Zaugg must definitively sell all his Scott Sport shares to majority shareholder Youngone Corporation. At the same time, it set the (provisional) value of the package at around CHF 20 million (€21.5 million), the Swiss platform CH Media reported. This (almost) seals the deal in this spectacular power struggle.

ZEIST, The Netherlands - It became apparent within the first few months of the year that 2025 would not be the turnaround year the bicycle industry needed. A muted Taipei Cycle show made clear that the supply chain was nowhere near back to being in full swing, and despite reasonable spring sales, the European market retracted again in the summer. Business-wise, there were reports of insolvencies, closures and redundancies. Knocks came from all sides: tariffs, human rights accusations, and very public non-alignment within the industry itself on several topics. However, pockets of innovation and newcomers managed to shine through, reminding the industry that its products are well-positioned for the long term. As the industry looks to realign and prepare for 'the fix in 2026', Bike Europe looks back at the articles that shaped 2025.

BRUSSELS, Belgium - 19 environmental NGOs, consumer organisations, and tourism and mobility businesses have written a joint letter to urge the European Commission to harmonise charging systems for electric bicycles and other light means of transport (LMT). "The lack of standardisation of charging connectors is needlessly slowing Europe's green transformation," the group supported by the European Environmental Bureau (EEB) writes.

TALINN, Estonia - "One of the most important mobility tools of our time, affordable, sustainable, and perfect for modern cities, is stuck in an analogue mindset. The cycling industry keeps polishing mechanical parts while the rest of the world has moved on," connectivity specialist Comodule wrote in a recent blog. The company laments at how e-bikes are creating a smoother commute, "but the bike itself is disconnected and largely dumb."

BAD HOMBURG, Germany - Existing minority shareholder, SKion GmbH has acquired "two significant business units" from the BMZ Group. BMZ Holding GmbH and BMZ Germany GmbH faced uncertainty when a sudden disruption in the customer base and subsequent legal proceedings led to an immediate financial challenge for the lithium-ion battery manufacturer. The acquisition is subject to approval by the antitrust authorities.

MUNICH, Germany - Following the successful launch of the trade-in portal in e-bike refurbisher Rebike Mobility GmbH's own flagship stores in Frankfurt and Munich, the onboarding of other major IBDs is now beginning. While the nationwide rollout is in preparation, an international scaling is already in the pipeline.

AMSTERDAM, the Netherlands - The e-bike is evolving rapidly and new user groups are entering the market, writes editor-in-chief Jan-Willem van Schaik in his editorial. "The question is whether the e-bike can keep the same classification and will continue to be seen as a bicycle. The classification as a bicycle has important legal implications."

AMSTERDAM, the Netherlands - The perceived relevance of trade shows is the next challenge the bicycle and e-bike industry is having to face since the start of this decade. Until the pandemic, the overall mood was positive and upbeat, but that's no longer the case, and it is difficult for the industry to get back on track. After the German industry associations ZIV and Zukunft Fahrrad questioned the purpose of Eurobike, the next challenge in the industry surfaced. How to communicate in the trade market? How is the transformation of the show landscape evolving? Time for a deep dive...

WASHINGTON, DC, United States - The number of bicycles imported into the United States in the first nine months of 2025 dropped 23% year-on-year. Looking specifically at China, imports from there have dropped by 40% amid tariff uncertainty throughout the year. Taiwan and Cambodia have made volume gains of 10% and 83% respectively. The latest import data provided by the US International Trade Commission shows that the face of the US bicycle market is already changing as a result of President Trump's 'America First' nationalist policy.

AMSTERDAM, the Netherlands - The Dutch bicycle market has enjoyed favourable market conditions throughout the year. According to the third-quarter report from the benchmark group of H&L Accountancy, the average retail revenue in the Netherlands increased by 5.4% compared to the same period last year. It is probably not the best quarter of the year, but the market is still buoyant.

BASSANO DEL GRAPPA, Italy - Selle Royal Group and Stardue Group have joined forces to establish a new foundation to generate a positive and lasting impact on the community. This organisation, called Stravarda Foundation, will develop a project that places the bicycle at the centre as a tool for social, cultural, and environmental growth.

BRUSSELS, Belgium - E-bike brand Cowboy has officially been taken over by France's ReBirth Group Holding SA. The agreement signals a new phase for the Belgian brand, which will now fully lean on ReBirth's industrial and recapitalisation capabilities. The transaction includes a full financial restructuring with Cowboy's primary lender, providing a stronger balance sheet and a clean slate. Cowboy founder and CEO, Adrien Roose, has left the company.

Dahon, one of the biggest folding bicycle makers in the world, jumped on its Hong Kong trading debut after investors flocked to its initial public offering on September 9, 2025. Dahon Tech, a subsidiary of Dahon, successfully listed on the Main Board of the Hong Kong Stock Exchange. "With an oversubscription rate of 7,558 times, media recognized it as Hong Kong's most oversubscribed listing ever," adds Dr. David Hon, the company's founder and CEO.

AMSTERDAM, the Netherlands - Two heavyweight names from the e-bike and automotive industries have failed to successfully launch a new e-bike brand. Soon after Porsche AG and Pon Holdings established the joint venture P2 eBike GmbH in 2022, investors openly stated that creating a new e-bike brand was not the best way to move forward in the industry.

VICENZA, Italy - A group of private strategic investors led by former Crankbrothers CEO Gaspare Licata has acquired a majority stake in Extreme Racing Shox (EXT), the Italian manufacturer of high-performance suspension systems for bicycle and motorsports applications. Under the new ownership structure, EXT plans to invest in new technologies and strengthen its distribution.

TAIPEI, Taiwan — Giant has made significant progress toward repairing its relationship with the United States in the aftermath of the US Customs and Border Protection's (CBP) embargo on shipments from the company's Taiwan factories. In the meantime, outside of Giant's facilities, an even larger change is taking place.

柬埔寨，金邊（PHNOM PENH）－長期作為自行車供應國的柬埔寨，正迅速擴大生產電動自行車，以供應海外市場。位於該國八韋市（Bavet City）經濟特區（SEZs）的自行車工廠似乎已度過2023年以來出口下滑的困境，且正積極進軍電動自行車市場。