Rad Power Bikes cuts about 10% of staff

[Slowrider]

Has anyone seen this?  This is not the layoffs in April where they cut 14% of their staff and closed their mobile bike service...  This is new layoffs!  The beginning of the end for Rad?

https://www.geekwire.com/2022/rad-power-bikes-cuts-about-10-of-staff-citing-economic-uncertainty-and-rising-operating-costs/

[JimInPT]

Thanks for digging that out.

"To weather this challenging time we are shifting our focus to become a self-sustaining business."

Sounds like they're burning through last year's venture-capital cash at a rapid rate and are feeling the VC heat.  Raising prices while cheaping out on components doesn't build customer satisfaction if 'Lectric will sell the same quality for 20-30% less money, hence the ongoing $350 discounts on the new Rovers with the new EZ-Kill battery design.   

I love my MiniST2 and very happy to have bought it with original-spec parts - it's doing great and loves its controller/brake hotrod upgrade this season.  If I was shopping today, I don't think there's a Rad model that would grab me like that one did. 

[SemperVee]

 Hi Jim,

RAD was a starting point and going forward we look to add a more sophisticated belt drive lighter model that will probably cost a bit more but yu get alot more in the way of sophistication.   All Biz's have ups and downs.  RAD is still very customer contric from my point of view compared to other ebike companies.

[Tree]

i wouldn't sweat it. EBikes are very much a forward industry.

unfortunately, most industries suffer through layoffs and such in down economies, which is a way to better improve a company's chances to make it through those down times.

[Rover]

i wouldn't sweat it. EBikes are very much a forward industry.

unfortunately, most industries suffer through layoffs and such in down economies, which is a way to better improve a company's chances to make it through those down times.

+1

[Altema]

i wouldn't sweat it. EBikes are very much a forward industry.

unfortunately, most industries suffer through layoffs and such in down economies, which is a way to better improve a company's chances to make it through those down times.

+1

+2

[fin_rad]

i wouldn't sweat it. EBikes are very much a forward industry.

unfortunately, most industries suffer through layoffs and such in down economies, which is a way to better improve a company's chances to make it through those down times.

+1

+2

+3

Here in Finland seeing more and more eVehicles. Now it is just the downhill what Russia and Mr. Putin started in the Ukraine. We will get better after we have done with Putin.

[Hugh]

Too bad they could not maintain their mobile service.  No wonder with the price of gas, and everything else involved in mobile service.  With their electronics warranty issues they should have mobile service though.  Perhaps the could use Velofix as a sub contractor for mobile warranty service.  The second wave of layoffs are throughout industry.  Even huge companies like Tesla are doing it.

[Rover]

They do use Velofix. But just like the RAD mobile service it?s not everywhere. But RAD paid Velofix to replace my City 5 Plus display gizmo AND a tuneup after a few hundred miles. Previously I?d used RAD mobile for assembly and delivery which was great. But Rad is moving to a brick and mortar model which makes sense. One stop shop and repair and RAD will control the system. Not unlike the Pedago model I?m guessing.