Rad Power Bikes, one of the leading electric bicycle companies in the US, has announced its response to rising e-bike costs in the US after the tariff exclusion on Chinese-produced electric bikes expires.
The statement from Rad’s CEO Phil Molyneux comes as nearly all electric bike makers in the US will begin reeling from the expiration of 25% tariffs on e-bikes imported from China.
While there does exist a very small amount of US-based manufacturing for e-bikes, the vast majority are produced in Asia, usually in China.
Tariffs on Chinese electric bicycles were first put in place under the Trump Administration and then continued under the Biden Administration. In both cases, exclusions have occasionally been granted, though often have been allowed to expire with painful periods between renewals and no guarantee that such renewals will even arrive.
“A longstanding tariff exemption on ebikes is set to expire on June 14, 2024, which will result in higher costs for manufacturers,” Molyneux explained in an emailed statement to customers. “In response, we will be raising the price by $100-$200 on a handful of ebikes: the RadTrike, the RadRunner 3 Plus, and our latest releases.”
Those latest releases include Rad’s four new models unveiled earlier this year.
The increased prices at Rad won’t come immediately. “We’ve postponed these adjustments through June 30th,” Molyneux continued, “to give those of you who’ve had your eyes on these models ample time to get them at their current price.”
Molyneux explained that the company would continue to focus on many of its central tenants, despite the price increase.
“While we share your frustration over these changes, we are committed to maintaining all of the things that make us Rad. We will continue to keep our prices affordable – and the price decrease we announced in January to help our riders weather inflation will remain in effect. We will continue to offer free shipping. We will continue to provide a free two-year warranty with every ebike purchase. We will continue to offer live customer service at our new, expanded 7-day a week schedule. We will continue to give you access to in-person care for your ebike at our RadRetail locations and through our nationwide network of 1,000+ service providers. And most importantly, we will continue to innovate on behalf of our riders with products that make your time in the saddle safer and more enjoyable than ever before.”
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