BikeBiz Bicycle and cycling retail news
Rad Power Bikes, a Seattle-based consumer-direct e-bike company, has announced it will now fully absorb all costs associated with the 25% tariff imposed on e-bikes since August 2018.
The tariff was imposed on e-bikes and other goods worth $16 billion in a second round of duties placed during trade negotiations between the U.S. and China. At the time, the company was forced to increase prices by $200.
“We want to bring the most value to customers and one powerful way to achieve this goal was to absorb the tariff costs completely,” said Mike Radenbaugh, co-founder and CEO of Rad Power Bikes.
“We believe e-bikes can truly revolutionise transportation and the communities we live in, and we’re here to make sure that happens no matter the cost.”
To fully absorb the costs of the tariff, the company streamlined business processes, standardised components across its models, enhanced relationships with vendors and diversified manufacturing.
The return to original pricing arrives as Rad Power Bikes releases its 2019 models.
