An early pioneer within the North American electrical bicycle market, Juiced Bikes seems to be in collapse. In keeping with many purchasers, the San Diego-based e-bike firm has largely ghosted them and failed to reply to repeated customer support inquiries. On the similar time, the corporate’s web site is out of inventory on all merchandise and its belongings seem headed for public sale.
There’s no affirmation from the corporate, however a number of indicators are pointing towards monetary misery and a possible closure of the corporate.
Juiced Bikes is likely one of the oldest repeatedly working e-bike manufacturers within the nation. I’m one thing of a dinosaur of the business, and even once I received concerned with e-bikes again in 2010, Juiced was already a serious participant (albeit often called Juiced Riders again then).
The corporate pioneered electrical cargo and utility e-bikes within the US with its ODK mannequin, launched a decade earlier than the favored RadRunner. The model then continued to evolve, changing into one of many first to supply higher-speed and higher-power fashions for adventurous riders.
However now the model seems to be in deep sufficient monetary misery to doubtlessly result in a closure of the corporate, and radio silence from the model has solely stoked the rumor mill.
Social media is stuffed with clients complaining a couple of lack of communication from the corporate. A number of have shared cases of their bikes being caught in service limbo whereas the corporate has damaged off communications about their repairs or return schedule for the bikes.
Others have shared cases of purchases which have gone unfulfilled for months.
“$2k out for a motorbike ordered in July, and which I canceled in September after getting regularly fed a line about transport delays,” defined one person on Reddit. “Filed a dispute with my financial institution however nonetheless ready.”
Juiced Bikes’ web site continues to be working, but all the firm’s many e-bike fashions are presently listed as out of inventory.
I’ve reached out to a number of leaders on the firm however have but to obtain an official touch upon the model’s standing.
Regardless of a scarcity of readability from the corporate, the most recent growth in Juiced’s potential monetary collapse saga seems to have sealed the deal, so to talk. The corporate’s belongings are actually exhibiting up on an public sale home platform generally used for firms which have gone out of enterprise.
Every little thing from the corporate’s present stock of merchandise and its tooling in China to its mental property rights seems to be listed on the market at public sale. Even the corporate’s Sprinter cargo van with Juiced Bikes branding is up on the market.
The previous couple of years have been a tricky interval for the electrical bike business. Following the large wave of e-bike gross sales within the post-pandemic interval, the market cooled considerably leaving many e-bike makers with big overstock conditions.
Enterprise capital funding additionally started drying up after the simple cash interval following the pandemic, additional crunching many e-bike firms.
On the similar time, dozens of latest Chinese language-based electrical bike manufacturers have opened their doorways in an try to snag a chunk of the large e-bike pie, usually dangling enticingly low costs that a number of of the US-based manufacturers couldn’t compete with. Leaders within the US finances e-bike market, resembling Lectric Ebikes, have additional squeezed rivals with aggressive pricing that has helped scoop up huge market share.
We’ve already seen a number of different giant e-bike firms go underneath within the final 12 months, together with SONDORS within the US and VanMoof in Europe. If Juiced Bikes is headed for a similar ending, it’s unlikely to be the final.
Electrek’s Take
Whereas there’s nonetheless no official phrase from the corporate, at this level, it seems that Juiced Bikes’ closure is a foregone conclusion. With its belongings up for public sale, there doesn’t seem like an endgame for the corporate as we all know it.
That is actually a tragic occasion for the business and simply one other reminder that we’re in a reckoning interval for the lots of of e-bike firms all competing for a similar clients. Yearly there are extra e-bikes on the highway than ever earlier than, but the meteoric progress of the post-pandemic years clearly wasn’t sustainable. Similar to the American automotive business ultimately pared down the hundred or so automotive firms in enterprise a century in the past, the e-bike market is probably going headed in an identical course.
That is additionally uniquely painful for Juiced’s clients who’ve been left ready for bikes they ordered or hoping to obtain service on the merchandise they already personal. Thankfully, somebody at Juiced seems to have set the web site’s stock to zero to stop phantom gross sales that might probably by no means be delivered, however that doesn’t assist these already disregarded to dry.
If there’s any room for hope, it’s that this doesn’t essentially imply there is no such thing as a future for Juiced Bikes. The model and its belongings might nonetheless be bought by an investor or firm hoping to revive the e-bike model. In that case, this doesn’t should be the final mile marker on Juiced’s 15-year-long experience.
FTC: We use revenue incomes auto affiliate hyperlinks. Extra.
