Industry News
NEW YORK (BRAIN) — The City Council on Thursday passed its lithium-ion battery safety legislative package in reaction to the growing number of fires, including prohibiting the sale of e-bikes, other powered mobility devices like e-scooters, and batteries that don't meet recognized certification like UL.
CARBONDALE, Colo. (BRAIN) — Why Cycles, a titanium mountain and drop-bar bike brand, will be consolidated into sister manufacturer Revel Bikes, streamlining production and resulting in consumer cost savings, according to the brand.
WASHINGTON (BRAIN) — Consumer Product Safety Commission Chair Alex Hoehn-Saric told BRAIN the agency doesn’t recognize the industry’s three e-bike classes but instead treats the regulation of e-bikes on a case-by-case basis.
NEW YORK (BRAIN) — After another fire in the city Friday that officials say was caused by a lithium-ion battery, FDNY and sheriff's office officials inspected five Manhattan bike shops and other locations and found improper storage and charging of hundreds of batteries and dozens of e-mobility devices that violated fire codes.
WEST PALM BEACH, Fla. (BRAIN) — Princeton Carbon Works prevailed after a two-week jury trial in which SRAM LLC had accused the company of infringing on two patents for aero wheels.
DULUTH, Ga. (BRAIN) — Fox Factory sales were up 23.4% last year, to a company record of $1,602.5 million. Sales in Fox's powered vehicle business was up 28% while sales in its specialty sports business, which comprises its bicycle brands, were up 17.6% for the year.
KĖDAINIAI FREE ECONOMIC ZONE, Lithuania (BRAIN) — Pon company officials buried a symbolic time capsule this week in the foundation of a new 40,000-square-meter (431,000-square-foot) bike factory being constructed here.
OLATHE, Kan. (BRAIN) — Garmin Ltd. revenue decreased 6% year-over-year in the fourth quarter and 2% for 2022 as its Fitness products division experienced the biggest decline of all the company's segments.
SVETA NEDELJA, Croatia (BRAIN) — After acquiring a majority interest in Greyp in 2021, Porsche announced the Croatian e-bike brand will operate under the Porsche eBike Performance group.
TOYKO (BRAIN) — Shimano is forecasting a company-wide 20.5% drop in net sales for its fiscal 2023, citing global economic conditions and supply chain disruptions. It's forecasting bike division sales will be down 23%.
PHILADELPHIA (BRAIN) — A Brooklyn, New York, company has agreed to acquire the intangible assets of the bankrupt sporting goods chain Olympia Sports for $180,000. The assets include CleverTraining, an e-commerce retailer that was once active in the cycling and triathlon markets.
WASHINGTON (BRAIN) — Lithium-ion battery fires and e-bike standards generated plenty of debate within the industry in 2022, but little argument exists within the industry over how some unregulated packs and bikes enter the U.S. and become potentially hazardous products.
BOULDER, Colo. (BRAIN) — For our February magazine edition, we asked our State of Retail panel members: How have you been affected by the glut of product currently in the market, and what are you and your suppliers doing to manage the situation?
OSAKA, Japan (BRAIN) — Sales in Shimano’s bicycle-product division hit another record in 2022, reaching 517.4 million yen ($3.885 billion) up 16.6% from the year prior.
STOCKHOLM (BRAIN) — Thule Group fourth-quarter net sales declined 10.6% year-over-year with CEO Magnus Welander blaming reduced bike product demand from retailers who lowered inventory after large preseason orders.
BOULDER, Colo. (BRAIN) — Two trade organizations and some well-known experts find themselves in opposition as the industry reacts to well-publicized fires, deaths, and injuries involving e-bikes and e-mobility devices.
BEVERLY, Mass. (BRAIN) — Custom carbon frame maker Parlee Cycles Inc. filed for Chapter 11 bankruptcy protection on Monday and will continue operations during the process. A balance sheet in its filing showed Parlee's liabilities totaled $4.4 million and total assets totaled $2.6 million at the end of January.
STOCKHOLM (BRAIN) — A 50% drop in bike helmet sales in the fourth quarter led to MIPS' net sales decreasing 46% year-over-year. For the year, the helmet technology company experienced a 7% drop in net sales.
TAICHUNG CITY, Taiwan (BRAIN) — SRAM will open a new 100,000-square-meter facility next year, continuing more than three decades of manufacturing here.
PALO ALTO, Calif. — In addition to giving more kids access to bikes and places to ride, the nonprofit Outride organization also studies cycling’s cognitive and physical benefits.
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