ARHUS, Denmark - Promovec Group A/S, supplier of e-bikes and drive systems, has acquired the remaining 25% of battery manufacturer Viridus Manufacturing A/S. This acquisition marks the end of the joint venture partnership with Chinese company Greenway.

LONDON, UK - When looking for an indication of how dire the current market situation is in the bike industry, look no further than the recent financial results of folding bike manufacturer, Brompton. The renowned British manufacturer has reported a dramatic decline in profits, plummeting from £10.7 million (€ 12.9 million) to just £4,602 (€ 5,543) for the fiscal year ending March 2024.

TERNDRUP, Denmark - As part of its continued growth investments, Danish online bike retailer Cykelgear, has merged with fellow Danish e-commerce business, Cykelpartner. Although the agreement unites the two online platforms under the same corporate group, both will continue to operate as independent brands in Denmark. The financial details of the deal have not been disclosed.

MEPPEL, The Netherlands - The full extent of the problems in the Dutch e-bike market are becoming increasingly clear with the next insolvency of pure player Amslod founded in 2015. Like Stella E-bike, Amslod started as an online retailer which later opened shops to provide better service, but never became as successful as Stella E-bikes.

ASOLO, Italy - Selle Italia has acquired Vittoria cycling shoes, which has been developing and manufacturing cycling shoes in Italy for almost fifty years, for an undisclosed amount. Giuseppe Bigolin, President of Selle Italia, "As we did in 2016 with Selle San Marco, we are gearing up to expand our range with a company that has always believed in technological development, in style and in the Made in Italy brand. Just like us."

TAICHUNG, Taiwan - Giant Group will start 2025 with a new executive leadership team following the announcement that long-standing chairperson Bonnie Tu will officially retire. The Group's board of directors has approved the appointment of current CEO Young Liu as the new Chairman. The current chief branding officer Phoebe Liu has been promoted to CEO. These changes will take effect January 1, 2025.

COLOGNE, Germany - From the start of next year, Georg Honkomp will hand over his position as chairman of the board of Europe's biggest dealer cooperative, German ZEG, to his successor Fred Schierenbeck.

ZEIST, the Netherlands - As the year draws to a close the Bike Europe team would like to thank you for your continued support throughout this challenging year.

AMSTERDAM, the Netherlands - The import statistics of the European Union clearly indicate that China regained its leading position as e-bike supplier for Europe's market. At the same time, the market is drowned with cheap and non-compliant China made e-bikes whose sellers shamelessly advertise the presence of a throttle and how to circumvent the maximum support of 25 km/h. How should the industry respond to these market developments?

ZEIST, The Netherlands - Imports of e-bikes into the EU reached almost 200,000 units in Q3 of 2024, almost matching the same volume of Q3 in 2023. Although there were signs of market recovery with an increase in e-bikes entering EU shores in Q2, the overall year-on-year decrease in the first nine months of 2024 is 28% compared to 2023. Perhaps more important, this is not counteracted by a higher import value.

MADRID, Spain - Bicycle production in Spain rebounded again in October with 25,400 bicycles produced for a value of €18.2 million. Compared to the same month of the previous year, this is a growth of 23.3% in units and 16.7% in turnover, according to data published by the Ministry of Industry and Tourism.

PARIS, France - The budget crisis in France which led to a lot of political turmoil recently has a big impact on the bicycle and e-bike industry as well. With no previous warning, the Government announced that all state subsidies for the purchase of bicycles and e-bikes will be eliminated on very short notice. The 'Alliance for Cycling' warns of a significant consequence of such a decision for the whole cycling industry.