Rad Power Bikes, a leading U.S. electric bicycle manufacturer, has announced its response to rising prices of electric bicycles in the U.S. following the expiration of a tariff exemption for Chinese-made electric bicycles.
The statement from Rudd CEO Phil Molyneux comes at a time when nearly all U.S. e-bike manufacturers are beginning to feel reeled by the expiration of a 25% tariff on e-bike imports from China.
There is very little U.S.-based manufacturing of electric bikes, but the majority are produced in Asia, particularly China.
Tariffs on Chinese electric bikes were first imposed under the Trump administration and then continued under the Biden administration, and in both cases, exceptions were sometimes granted, but there were painful periods between renewals and they often expired with no guarantee of renewal.
“The long-standing tariff exemption on electric bikes is set to expire on June 14, 2024, which will result in increased costs for manufacturers,” Molyneux explained in an emailed statement to customers. “In response, we will be increasing the prices of several electric bikes, including the RadTrike, RadRunner 3 Plus and our newest releases, by $100-200.”
These latest releases include four new models from Rad that were announced earlier this year.
The price increases at Rad won’t happen immediately: “We’ve delayed these adjustments until June 30th to give those who have had their eye on these models plenty of time to purchase them at the current prices,” Molyneux continues.
Molyneux explained that despite the price increases, the company remains committed to many of its anchor tenants.
“We understand our customers’ frustration with these changes, but we are committed to staying true to what Rad is all about. We continue to keep our prices affordable and the price reductions we announced in January to keep up with inflation remain in effect. We will still offer free shipping. We will continue to offer a free two-year warranty with every eBike purchase. We will continue to offer live customer service with a new expanded seven-days-a-week schedule. We will continue to offer in-person care for your eBike through RadRetail stores and our nationwide network of over 1,000 service providers. And most importantly, we will continue to innovate for riders with products that make riding safer and more fun than ever.”
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