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Rad Power Bikes has informed its employees that it will shut down in January if it is unable to find new funding or get acquired, according to an internal staff email viewed by TechCrunch.<\/p>\n
The company\u2019s leadership is \u201cstill fighting to find ways to continue,\u201d and \u201cthe cessation of Rad\u2019s operations is not a forgone conclusion,\u201d according to the email, which was sent by Rad Power\u2019s \u201cpeople team.\u201d Rad Power employees were told there had been a \u201cvery promising\u201d option to keep the company alive that \u201cappeared to be likely to close,\u201d but the deal \u2014 which was not specified in the email \u2014 \u201cdid not come to fruition.\u201d <\/p>\n
\u201cRad is nothing without its people and wants to ensure that all employees are taken care of and provided for to the fullest extent feasible. Executive leaders are hopeful that a viable solution will be found to ensure that Rad team members remain gainfully employed for the foreseeable future. However, to be fully transparent, despite our collective efforts, it is possible that this may not happen, and Rad may be forced to cease operations,\u201d the email reads. GeekWire was first to report the contents of the email<\/a>.<\/p>\n Seattle-based Rad Power has gone through multiple rounds of layoffs<\/a> over the last few years coming out of the pandemic. While the early pandemic days were a boon to micromobility companies like Rad Power, a \u201csudden drop in consumer demand\u201d left the company saddled with excess inventory, according to the email viewed by TechCrunch. \u201cRad continues to face significant financial challenges, including in the form of tariffs and the macroeconomic landscape.\u201d<\/p>\n \u201cAt this time, Rad\u2019s leadership is focused on supporting our employees, serving our Rad Riders, and giving Rad the best chance for longevity,\u201d a spokesperson for the company said.<\/p>\n Rad Power is far from the only company in the e-bike or micromobility space to run into trouble recently. A number of others have gone out of business or had to restructure over the last few years, like Cake<\/a>, VanMoof<\/a>, Superpedestrian<\/a>, and Bird<\/a>.<\/p>\n Despite the industry turmoil, Rad Power was still considered to make some of the most compelling e-bikes on the market. But faced with escalating financial pressure, the company swapped CEOs earlier this year<\/a>. It brought in an executive named Kathi Lentzsch who has spent decades turning around underperforming companies.<\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco<\/span> Lentzsch and the other executives at Rad Power have spent the last few months exploring \u201cstrategic partnerships with other companies that could acquire [Rad Power] or provide funding so the company could keep moving forward,\u201d per the email.<\/p>\n Last week, the company issued a Worker Adjustment and Retraining Notification notice to the employees at its Seattle headquarters, which told them that the 64 people working there could be laid off as soon as January 9. But this isn\u2019t a targeted layoff, according to the email \u2014 it\u2019s just the only Rad Power office with enough workers to necessitate this kind of mandated warning.<\/p>\n \u201cIn the event the company is forced to close, Rad would be required to cease operations on January 9, 2026, or within 14 days thereafter,\u201d according to the email. \u201cIn that case, Rad expects that any cessation of operations will affect all locations and departments, will be permanent in nature, and that all employees will be terminated effective January 9, 2026.\u201d<\/p>\n<\/div>\n
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\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 13-15, 2026<\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n