SEATTLE, WA AND DEERFIELD BEACH, FL / ACCESS Newswire / March 5, 2026 / Life Electric Vehicles Holdings, Inc. (Life EV), a fast-growing electric mobility company led by executives with more than 20 years of industry experience and deep operational expertise in U.S. assembly and supply chain development, today announced that it has completed a court-approved asset acquisition of the Rad Power Bikes brand, intellectual property, inventory, and certain operating assets. Rad Power Bikes is recognized as one of North America's leading e-bike brands.

The transaction establishes Life EV as the owner of the Rad Power Bikes brand and provides a foundation for expanded U.S.-based assembly initiatives, enhanced quality control, and an accelerated pipeline of innovative products. Following the closing, Life EV will continue retail operations under the Rad Power Bikes brand in the United States and plans to expand the retail footprint in select key markets.

Life EV also intends to support Rad riders through post-closing customer programs, including honoring certain warranties and gift cards in accordance with the terms of the asset purchase agreement.

This asset acquisition advances Life EV's broader strategy to expand electric mobility across North America by building a portfolio of EV brands supported by vertically integrated capabilities. Life EV will leverage operational experience developed across its platform, including its experience supporting the Serial 1 premium electric bicycle brand.

Looking Ahead for the Rad Power Bikes Brand

Rad Power Bikes has played a significant role in the growth of the e-bike category and the mission to create alternative modes of transportation. Life EV plans to build on that important foundation with a fresh focus on product innovation, customer experience, and operational improvements to serve the needs of the Rad rider community going forward.

"Rad Power Bikes has helped define the e-bike category in North America with its innovative products and passionate rider community," said Rob Provost, CEO of Life EV. "Respecting and preserving that legacy - its brand, vision, and leadership - is foundational to this acquisition. Together, we will build on that trust and create new opportunities for riders nationwide."

Shared Vision for the Future of Electric Mobility

Rad Power Bikes was founded with a simple but powerful idea: e-bikes should be practical, reliable, and accessible for everyday riders. What began as a solution for commuting to school has grown into a movement redefining how people get around.

"This marks an important new chapter for the Rad Power Bikes brand," said Jim Brown, President of Life EV. "We respect the foundation that has been built and are committed to strengthening operations, enhancing product development, and supporting the rider community for the long term."

Together, the organizations will uphold customer-centric values by delivering high-quality, sustainable electric transportation that prioritizes safety, utility, and innovation, while leveraging the broader Life EV platform, including affiliated manufacturing and supply chain capabilities, to expand access and help drive the future of micromobility.

Building the Future of E-bike Manufacturing in the U.S.

Life EV plans to transition Rad Power Bikes' production to the United States through affiliated manufacturing operations utilizing a Foreign Trade Zone (FTZ) structure on U.S. soil. This integrated manufacturing approach reflects a long-term vision for scalable operations, bringing component sourcing, assembly, quality control, inventory management, and distribution together through the broader Life EV platform.

Components are expected to be sourced directly at the fabrication level from leading global suppliers, enabling higher quality standards, improved pricing, and greater visibility into tariffs and supply chain risk. By aligning these capabilities, Life EV aims to reduce overhead, streamline production, and deliver more consistent, high-quality e-bikes across its portfolio while supporting the growth of domestic manufacturing capabilities.

About Life Electric Vehicles Holdings, Inc.
Life Electric Vehicles Holdings, Inc. (OTC:LFEV) is a U.S.-based electric mobility platform company focused on acquiring, developing, and scaling electric bicycle and micro-mobility brands supported by vertically integrated domestic assembly, supply chain, and distribution capabilities. The company recently acquired the Rad Power Bikes brand and operating assets, including intellectual property, inventory, and retail operations. Through its Rad Life Mobility subsidiary, the company supports sales, customer service, and distribution across direct-to-consumer, retail, and dealer channels. Life EV also holds an equity interest in LEV Manufacturing, Inc., which acquired the Serial 1 premium electric bicycle brand originally developed and spun off from Harley-Davidson. The company is advancing U.S.-based production initiatives, including planned operations in Florida, Tennessee, and Utah, to support domestic assembly, supply chain efficiency, and long-term manufacturing scalability. With a strategic focus on innovation, sustainability, and American assembly, Life EV is positioned to become a leading vertically integrated electric mobility platform in North America.

CONTACT:

Life EV Media Relations
press@radlifemobility.com
(954) 859-0536

SOURCE: Life Electric Vehicles Holdings, Inc.