DEERFIELD BEACH, FL - January 28, 2026 - Life Electric Vehicles Holdings, Inc. (“Life EV” or the “Company”) announces that it has authorized and won the bid to acquire substantially all of the assets of Rad Power Bikes, Inc. (“Rad Power”), a well-known electric bicycle brand.
Life EV’s bid, reflecting consideration of approximately $13.3 million in cash and an implied total value of approximately $14.9 million when accounting for assumed liabilities, was the highest and best offer submitted in a court-supervised auction process.
The proposed acquisition remains subject to Bankruptcy Court approval and customary closing conditions.
Life EV believes the acquisition, upon closing, would represent a significant strategic opportunity to expand its footprint in the electric mobility sector. The Company will provide additional updates as appropriate.
About Life Electric Vehicles Holdings, Inc.
Life
Electric Vehicles Holdings, Inc. (OTC: LFEV) is a U.S.-based company holding a
significant equity position in LEV Manufacturing, Inc., owner of the Serial 1
premium electric bicycle brand acquired from Harley-Davidson. LEV Manufacturing
is in the process of activating FTZ operations to optimize U.S. production,
supported by management’s proven expertise in FTZ-based manufacturing. Life EV
Holdings also owns and develops the Life EV brand and operates E-Life
Distributors, its wholly owned sales and distribution arm, supporting sales and
distribution activities across retail, private label, and affiliated brands.
Focused on innovation, sustainability, and U.S.-based assembly, Life EV
Holdings aims to be a leading player in the micro-mobility industry.
Forward-Looking Statements
This
press release contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements related
to the Company’s growth plans, market strategy, product development, order
book, regulatory matters, and corporate strategy. Forward-looking statements
are based on current expectations and involve risks and uncertainties that
could cause actual results to differ materially. Readers are cautioned not to
place undue reliance on these forward-looking statements. The Company
undertakes no obligation to update or revise any forward-looking statements
except as required by applicable law.
Contact:
Investor Relations
Life Electric Vehicles Holdings, Inc.
Email: investor.relations@lifeevgroup.com
SOURCE: Life Electric Vehicles Holdings, Inc.