CHICAGO, United States — Performance component brand SRAM has announced two critical expansions to its distribution networks this winter season, enhancing service proximity and global reach through strategic distribution partnerships. These new distribution networks in South Africa and Eastern Europe reflect the company's focus on capturing growing demand in the bicycle aftermarket.
TALLINN, Estonia - Vok Bikes, the Estonian company behind a new generation of four-wheeled electric cargo bikes, has raised US$6 million (€5.12 million) to further expand across Europe and accelerate the shift away from vans in city centres. The Series A funding round is led by SQM Lithium Ventures, the corporate venture capital team affiliated with SQM International Lithium (SQMi), a global leader in lithium production.
KEDAINIAI, Lithuania - Industry guests, suppliers, building constructors and official authorities gathered Tuesday for the official opening of Pon.Bike's state-of-the-art bicycle and e-bike factory in Lithuania. The Ministry of Economy and Innovation granted the status of this €57 million project into a major foreign direct investment which turned the opening into a high-brow event.
ŠIAULIAI, Lithuania - Overcapacity and a slowdown in demand in Europe were the main reasons for a decline in turnover in 2023 reports bicycle manufacturer UAB Baltik Vairas. In 2023 the company generated a turnover of € 170.96 million, down 7.5% from € 184.9 million in 2022.
TALLINN, Estonia - Building an own mobile application has become easier for e-bike manufacturers with the launch of Comodule's next generation software development kit. The Estonia company expects that user-experience will soon emerge as the main differentiator. "Forward-thinking e-bike manufacturers are well-advised to partner with IoT providers that enable them to develop their own brand apps," writes Comodule.
VILNIUS, Lithuania - Construction company YIT Lithuania has handed over the keys of the newly built Pon.Bike bicycle factory in the Kedainiai Free Economic Zone in Lithuania. over the next 5 to 6 months Pon.Bike will prepare the new facility for production.
