Life Electric Vehicles Wins $13.2M Bid for Rad Power Bikes Assets in Bankruptcy Auction

Rad Power Bikes, once valued at $1.65 billion, auctioned its assets for $13.2 million as part of bankruptcy proceedings, with South Florida-based Life Electric Vehicles winning the bid pending court approval. Life EV will acquire Rad's inventory, intellectual property, and liabilities, while Rad's future brand status and employee impact remain uncertain.