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Stromer said it achieved 'sustainable' growth in 2023

Published March 4, 2024

OBERWANGEN, Switzerland (BRAIN) — E-bike brand myStromer AG said it achieved "sustainable" growth last year of more than 10%. The privately held company did not release financial details. 

The company owns two premium e-bike brands, Stromer and Desiknio. It said last year it expanded its market share in Belgium and the Netherlands while seeing double-digit growth in the U.S.

The company now has 180 employees globally, including 25 employees at its digital hub in Romania. 

In 2023 the company showed what it calls the first drivable e-bike prototype with a solid-state ceramic battery. Last year it also announced a multi-year collaboration with Alinghi Red Bull Racing with the launch of two Alinghi Red Bull Racing Special Edition Stromer models.

It also noted that Stromer bikes have been ridden more than 109 million commuter kilometers (67 million miles), which it said saved more than 20,000 metric tons of CO2, which is the equivalent of more than 10,000 round trip flights from London to New York.

"The bicycle industry had a much harder time last year than in the boom years during and after the coronavirus. That just amplifies our excitement about the growth we achieved in our core markets. And at this time in particular it is essential that we continue to invest in innovation and growth to improve our market position," said co-CEO Dr. Karl Ludwig Kley.

The company said the Stromer brand will enter a new category publicly at the Eurobike show in July.

Co-CEO Tomi Viiala said the company has a positive outlook for 2024. "We will surprise the market with several innovations," he said. "We also believe that the emerging mobility transformation will have a positive effect on the e-bike and S-Pedelec market. We are promoting this transformation with financing solutions and leasing offers and corresponding products that make traffic easier in your day-to-day life."

Stromer was acquired by a European private equity company in 2021

Topics associated with this article: Electric bike, Earnings/Financial Reports

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