Business

Partnerships, acquisitions and investment news

Tembici raises $47 million to expand e-bike fleet

Brazilian bike-sharing company Tembici has raised $47 million in its second finance round as it looks to widely roll out its e-bike fleet and expand services. The funding round was led by venture capital investors Valor Capital Group and Redpoint eventures, in addition to existing investor Joa Investimentos. International Finance, …

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VanMoof attracts £11 million investment from Balderton and SINBON

VanMoof has confirmed an £11 million investment from venture capital firm Balderton Capital and assembly partner SINBON Electronics. The funds will support the brand’s international expansion as it scales up to meet increased demand. The investment follows the launch of the new electric VanMoof S3 and X3 bikes. “It’s a …

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Volt opens new UK manufacturing facility

Volt has officially opened the doors to its new UK manufacturing facility in Milton Keynes. The move represents a significant investment by the firm in UK manufacturing and centralises its production within a new facility. At approximately 20,000 square feet, the new factory has the capacity to build up to …

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Pure Electric to open 11 high street stores

Pure Electric is opening 11 new high street stores across the UK throughout the next week. The grand reopenings – replacing Cycle Republic stores previously owned by Halfords – are part of Pure Electric’s growing network of e-mobility stores selling a wide range of e-bikes and e-scooters. More UK stores …

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Ampler’s e-bike sales grow 88% in early 2020

Ampler’s e-bike sales increased by 88% in the first five months of the year. The ongoing pandemic has undoubtedly played a significant role in the brand’s success in early 2020, but Ampler additionally credits its direct-to-consumer business model as a “robust” solution as various retailers closed throughout Europe. Ardo Kaurit, …

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Ather Energy plans scooter exchange programme, expands into eight new cities

Electric vehicle startup Ather Energy is planning a vehicle exchange programme to encourage traditional scooters to switch to electric. The company is expanding into eight new cities with financing and ownership models, opening up experiencing centres through dealerships in Kochi, Coimbatore and Kolkata, amongst others. Ather’s co-founder and CEO Tarun …

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Swytch “inundated” with order requests for e-bike kit

Swytch Technology has said it has been “inundated” with order requests for its e-bike conversion kit, following the UK Government urging people to cycle. The waiting list to order a Swytch kit now exceeds 100,000 people and production has had to be increased to meet the growing demand, the company …

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E-scooters to be trialled in Birmingham and Coventry

E-scooters are set to appear on West Midlands streets in a trial to help get the region moving once lockdown restrictions start to be lifted. Transport for West Midlands (TfWM), Birmingham City Council and Coventry City Council will now work together to test the technology and better understand the benefits …

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LEVA-EU says ‘blanket’ EU regulation ‘choking’ LEV sector

LEVA-EU is calling for an “urgent” change in EU regulations it says are “seriously hindering manufacturers”. The advocacy group said the issue has been brought into focus as a result of the COVID-19 pandemic, with cities across Europe encouraging use of more light, electric vehicles (LEV), such as e-bikes, as …

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Beryl urges UK councils “not to sleepwalk” into dilemmas of past micromobility schemes

Beryl has signalled its willingness and ability to launch services with local councils who have expressed an interest in running shared electric scooter trials to the DfT. The company’s hybrid scheme, which already includes e-bikes in regions across the UK, encourages users to pick up and drop off Beryl Bikes …

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