Cash-injection for pedal assisted transporter Ono
BERLIN, Germany - To support the roll-out and European market launch of its Pedal Assisted Transporter (PAT), start-up Onomotion GmbH received a € 3 million cash-injection from InnoEnergy SE.
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Shimano Belgium and Lazer Sport team up in new Belgian office
MECHELEN, Belgium - Shimano Belgium and Lazer Sport are relocating to a brand new office in Mechelen, Belgium as per 1 July 2021, Shimano Europe has announced. "Better facilities to meet the future growth ambitions of both companies" is what has instigated the move. Shimano Belgium and Lazer Sport will remain two entities but will share facilities in an effort to boost efficiency.
Bafang General Manager Europe Jack Brandsen resigns
SUZHOU, China- After a six-year tenure at the helm of the Bafang European headquarters in Wijchen, the Netherlands, Jack Brandsen will depart the company as of March 31st.
Pinarello restructures top management to accelerate further growth
TREVISO, Italy - The Pinarello Group, together with majority shareholder L Catterton, have announced key investments in top management creating an organisational structure which has been "designed to boost growth initiatives and accelerate the brand's development".
Pierer Mobility groups e-bike brands in new subsidiary Husqvarna
MUNDERFING, Austria - In a move to give the company's fast-growing e-mobility segment even more clout, on 25 February 2020 Austrian Pierer Mobility AG (former KTM Industries AG) established Husqvarna E-Bicycles GmbH as a wholly-owned subsidiary with headquarters in Munderfing, Austria.
Shimano announces 'Iberia' subsidiary for Spanish market
MADRID, Spain - Shimano Europe is setting up its own business operation in Spain for cycling components, cycling gear and fishing tackle, ending the exclusive distribution agreement with Macario Llorente. The operation will be named Shimano Iberia S.L.
Continuity assured with new owner for Rudie Campagne's Vittoria
BERGAMO, Italy - Vittoria, one of the world's leading manufacturers of bicycle tires with an annual production of more than 7 million tires and 900,000 high performance tubulars and cotton tires has changed ownership. Vittoria Group's President and CEO Rudie Campagne (76) presented the Italian private equity fund, Wise Equity, as the new owner of Vittoria Group.
Coronavirus' Impact on European Bicycle Industry
DOETINCHEM, the Netherlands - The measures taken by European governments to limit the Coronavirus as much as possible have had a major impact on the bicycle industry. OEMs were already prepared for the disruption of component's supplies from China but now multiple assembly factories in Europe are closed.
Selle Italia and Selle San Marco Unite and Diversify
ROSSANO VENETO, Italy - Two historic "Made in Italy" cycling brands aim to reinforce their tie on the market by combining forces to create an even stronger commercial partnership. Selle Italia and Selle San Marco are consolidating their activities in one Group. Next to that Giuseppe Bigolin, owner and President of the two companies announces the start of a strategy which includes diversifying into other products than saddles.
E-Bike Craze Continues Unabated in Holland
AMERSFOORT, the Netherlands - Is it the weather, or the economy, or just the plain truth that e-bikes are like iPhone: everybody wants one? Fact is that after the January to September selling-season for bicycles the results show that interest - and with that sales - of e-bikes remained unrelentless huge. In Holland that is; the country where the e-bike craze started and where electric bicycles have taken over the bike market (almost) completely.
Cannondale Drives Dorel Sports' Success in Third Quarter
MONTREAL, Canada - Dorel Sports including Cycling Sports Group showed a strong third quarter performance; like in the 2nd quarter. Between July and October, revenues increased by 14.2 percent. "Growth in Europe was primarily driven by the e-bike category which doubled sales with e-MTB launches such as the Cannondale Moterra and Habit Neo," said Dorel President & CEO, Martin Schwartz.
Deloitte study: E-bike sales in 2023 at 40 million units generating...
LONDON, UK - Renowned consultancy firm Deloitte has published a study named 'Discover the Future' in which it presents detailed expectations for the new decade. These expectations are presented for six different sectors/topics, which are to have the greatest impact on society and business in the coming ten years. In the midst of topics like 5G, robots and where the smartphone will take us; cycling is mentioned as the second subject with the prediction that bike rides for commuting will increase enormously and that a huge rise in e-bike sales are to trigger that.
Kross Invests in Production and Logistics (VIDEO)
PRZASNYSZ, Poland - The Polish bicycle manufacturer Kross, which produces its own brands Kross, Le Grand and Multicycle, aims to double its annual turnover of almost one hundred million euros in the next three to five years. The company has a clear strategy to reach this target: more focus on e-bikes, a higher level of production automation, a sophisticated logistics and dedicated teams for important export markets should make this possible.
Start-Up Presents 3D Printed Chromo E-Bike Frame
MAGDEBURG, Germany - Urwahn Engineering GmbH - a spin-off of the Magdeburg University - is introducing a 3D-printed Chromo steel frame targeting the use in city e-bikes.
Despite Coronavirus Business (Almost) as Usual for Giant and Merida...
TAIPEI, Taiwan - Next to the news that the daily number of casualties in China is now dropping; it's also reported that Giant and Merida have resumed their operations in China. Is it a first indication that things are normalizing in China? Amid these reports, the European Union announced that it is strengthening international efforts to slow the spread of COVID-19 for which it has set up an aid package worth 232 million euro.
Tektro Europe Opens Office in Germany
NEUSTADT, Germany - Tektro Technology Corp sets its next step in becoming a global company by opening Tektro Europe GmbH i.G close to Frankfurt, Germany this month. Thomas Lattke will be the new general manager for this office and lead Tektro Europe GmbH as director of sales and service. Thomas Lattke comes with extensive industry experience, having spent the last 20 years with Sigma Sports and SRAM in product, service and sales positions.
Private Fund Invests Ten Million Euro in Dutch E-Bike Maker QWIC
AMSTERDAM, the Netherlands - Dutch e-bike maker QWIC has received 10 million euro in growth capital from De Hoge Dennen Capital, the investment vehicle of the Netherlands based De Rijcke family. The investment makes it possible for QWIC to meet its international ambitions and to develop e-bikes of the next generation.
Selle Royal Group Looks for Financial Partner to Accelerate Growth
POZZOLEONE, Italy - Selle Royal Group has retained UBS for finding it a financial partner. The privately owned Italian company that claims to be the world leader in premium branded saddles as well as bike parts and accessories, is aiming for an acceleration of its growth according to the strategic principles determined by current shareholders and management.
Vietnam Facility Gives Schwalbe Opportunity to Expand
HO CHI MINH CITY, Vietnam - Two large halls house the Vietnam facility of the Bohle Group which was opened in 2014. Together with its Korean partner Hung-A Ltd., Bohle set up the factory to meet growing demand for its popular Schwalbe products. One hall is fully dedicated to the production of tubes, while the tyres are made in the second hall.
UK's Tax Scheme Update Targets Increased E-Bike Use
LONDON, UK - Cycle to Work (C2W) is a UK government scheme designed to help employees buy bicycles, e-bikes and cycling accessories to be used for the purpose of cycling to work. It works by rebating tax paid by the employee against the purchase of the bike. The popular tax 'salary sacrifice' scheme that rebates tax against a bike for commuting to work now includes e-bikes that retail over GDP 1,000 (1,125 euro