Is Rad Power Bikes planning a new low-cost electric bike? These 3 signs point to yes
Rad Power Bikes is the largest electric bicycle company in North America, meaning that when they make moves, the industry responds. And the latest move we could soon see from the Seattle, Washington-based e-bike manufacturer may be the introduction of a new low-cost electric bike to replace the RadMission.
Here’s why.
Current state of affairs
The current entry-level electric bike model from Rad Power Bikes is the RadMission.
The RadMission is a no-frills e-bike that eschewed fancier features like digital screens and multiple gears to hit the market at a more than reasonable $999 when it was introduced in the summer of 2020.
The price managed to walk up to $1,199 over the years, but the bike still offered great specs for an entry-level price. Hitting 20 mph (32 km/h) on throttle and pedal assist with a 500W motor made it a fun e-bike for the city, and a range of between 20-40 miles (32-64 km) cemented its place as a bare bones but well-made commuter e-bike.
I got one of the first RadMission e-bikes ever produced and have ridden it hard ever since, including using it as an out-of-character gravel bike for off-roading — a job it was never meant to do.
Now there are several clues that this crowd favorite could soon be replaced.
It’s been over two years
The RadMission was announced in June of 2020, right in the thick of the blossoming COVID-19 pandemic.
In e-bike time, that’s like a million years ago.
Rad’s own product cycle often refreshes e-bikes after around two years, as we saw with the RadRunner 2 that followed 28 months after the original RadRunner was announced.
How long has it been since the RadMission was unveiled? 28 months.
I’m not trying to go all Da Vinci code on you guys, but c’mon!
With the RadMission surpassing its two-year anniversary this past summer, the time is ripe for an update. And considering that low-cost electric bikes are rather simple to iterate thanks to their no-bells-and-whistles designs, it won’t take the company all too long to develop a replacement. At least not as long as a more complicated bike like Rad’s flagship RadRover 6 Plus, for example.
Rad just had a fire sale to tank its inventory
As I mentioned above, the RadMission usually sold for between $999 to $1,199.
It occasionally saw brief sales of $899, which caused us all to fawn over what a great deal it was.
But last month Rad shocked the entire industry when it abruptly dropped the RadMission’s price to just $499. Jaws hit the floor so hard around the country that orthognathic surgeons are probably on boat-buying sprees right now.
It was crazy. It was wild. I already had a RadMission and I was half ready to get another one as a spare just because the deal was that good.
Why on earth would Rad sell an e-bike for so little? That price has to be darn near at-cost for the company.
The only two reasons I could think of at the time were that the RadMission would soon be replaced and thus they needed to burn through existing inventory, or that the company massively overbought during the height of supply chain uncertainties and were now left with a warehouse full of bikes. But now the new evidence below makes it seem like the first option was correct…
The RadMission is gone and it ain’t coming back
Perhaps the most damning evidence that the RadMission is being replaced is that Rad Power Bikes almost comes right out and says it. Or at least they’ve revealed that the RadMission is finished. Kaput. Down for the count.
Now the company’s RadMission page has been updated to not only show that the bike is out of stock (that’s what a $499 sale will do!), but also that the bike will not be restocked.
Could they simply be sunsetting the RadMission? Maybe
But Rad doesn’t retire e-bikes very often. Though to be fair, it’s not unprecedented. That RadMini was recently deep-sixed when the RadExpand was unveiled as its replacement. But that was the exception at Rad, not the rule.
Generally speaking, Rad is known for pumping out new and improved versions of its e-bikes every few years, tacking on a new number. Meet the RadWagon 4, the RadRunner 2, the RadCity 5 Plus, etc.
So what could be the next low-cost Rad Power Bikes model?
That’s the question: What’s next?
Perhaps Rad really is saying goodbye to the low-cost RadMission and instead wants to focus on its higher-end electric bikes that likely come with cushier margins. Maybe low-cost competitors like Lectric eBikes have been eating Rad’s lunch on that end of the market and the brand is tired of it.
But Rad doesn’t seem like the type of company to shy away from competition. They’ve got an e-bike in just about every e-bike space: fat tire adventure e-bikes, folding e-bikes, cargo e-bikes, commuter e-bikes, utility e-bikes, etc. Just about the only thing they don’t do is a dedicated road e-bike, but that’s because its such a high-end niche that Rad doesn’t really want to touch the lycra crowd.
Instead, my best guess is that a RadMission 2 is coming. It’s just too awesome of a platform to abandon, and it opens the door to so many new riders that want a full-size electric bike without paying a full-size price.
But then again this is all merely conjecture. Only the folks on NW 52nd street know the real answer, and so far they aren’t talking.
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Is it an electric van or a truck? The Kia PV5 might be in a class of its own. Kia’s electric van was recently spotted charging in public with an open bed, and it looks like a real truck.
Kia’s electric van morphs into a truck with an open bed
The PV5 is the first of a series of electric vans as part of Kia’s new Platform Beyond Vehicle business (PBV). Kia claims the PBVs are more than vans, they are “total mobility solutions,” equipped with Hyundai’s advanced software.
Based on the flexible new EV platform, E-GMP.S, Kia has several new variants in the pipeline, including camper vans, refrigerated trucks, luxury “Prime” models for passenger use, and an open bed model.
Kia launched the PV5 Passenger and Cargo in the UK earlier this year for business and personal use. We knew more were coming, but now we are getting a look at a new variant in public.
Although we got a brief glimpse of it earlier this month driving by in Korea, Kia’s electric van was spotted charging in public with an open bed.
The folks at HealerTV found the PV5 variant with an open bed parked in Korea, offering us a good look from all angles.
From the front, it resembles the Passenger and Cargo variants, featuring slim vertical LED headlights. However, from the side, it’s an entirely different vehicle. The truck sits low to the ground, similar to the one captured driving earlier this month.
When you look at it from the back, you can’t even tell it’s the PV5. It looks like any other cargo truck with an open bed.
The PV5 open bed measures 5,000 mm in length, 1,900 mm in width, and 2,000 mm in height, with a wheelbase of 3,000 mm. Although Kia has yet to say how big the bed will be, the reporter mentions it doesn’t look that deep, but it’s wide enough to carry a good load.
The open bed will be one of several PV5 variants that Kia plans to launch in Europe and Korea later this year, alongside the Passenger, Cargo, and Chassis Cab configurations.
In Europe, the PV5 Passenger is available with two battery pack options: 51.5 kWh or 71.2 kWh, providing WLTP ranges of 179 miles and 249 miles, respectively. The Cargo variant is rated with a WLTP range of 181 miles or 247 miles.
Kia will reveal battery specs closer to launch for the open bed variant, but claims it “has the longest driving range among compact commercial EVs in its class.”
In 2027, Kia will launch the larger PV7, followed by an even bigger PV9 in 2029. There’s also a smaller PV1 in the works, which is expected to arrive sometime next year or in 2027.
What do you think of Kia’s electric van? Will it be a game changer? With plenty of variants on the way, it has a good chance. Let us know your thoughts in the comments below.
Source: HealerTV
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Is Nissan raising the red flag? Nissan is cutting about 15% of its workforce and is now asking suppliers for more time to make payments.
Nissan starts job cuts, asks supplier to delay payments
As part of its recovery plan, Nissan announced in May that it plans to cut 20,000 jobs, or around 15% of its global workforce. It’s also closing several factories to free up cash and reduce costs.
Nissan said it will begin talks with employees at its Sunderland plant in the UK this week about voluntary retirement opportunities. The company is aiming to lay off around 250 workers.
The Sunderland plant is the largest employer in the city with around 6,000 workers and is critical piece to Nissan’s comeback. Nissan will build its next-gen electric vehicles at the facility, including the new LEAF, Juke, and Qashqai.
According to several emails and company documents (via Reuters), Nissan is also working with its suppliers to for more time to make payments.
“They could choose to be paid immediately or opt for a later payment,” Nissan said. The company explained in a statement to Reuters that it had incentivized some of its suppliers in Europe and the UK to accept more flexible payment terms, at no extra cost.
The emails show that the move would free up cash for the first quarter (April to June), similar to its request before the end of the financial year.
One employee said in an email to co-workers that Nissan was asking suppliers “again” to delay payments. The emails, viewed by Reuters, were exchanged between Nissan workers in Europe and the United Kingdom.
Nissan is taking immediate action as part of its recovery plan, aiming to turn things around, the company said in a statement.
“While we are taking these actions, we aim for sufficient liquidity to weather the costs of the turnaround actions and redeem bond maturities,” the company said.
Nissan didn’t comment on the internal discussions, but the emails did reveal it gave suppliers two options. They could either delay payments at a higher interest rate, or HSBC would make the payment, and Nissan would repay the bank with interest.
The company had 2.2 trillion yen ($15.2 billion) in cash and equivalents at the end of March, but it has around 700 billion yen ($4.9 billion) in debt that’s due later this year.
As part of Re:Nissan, the Japanese automaker’s recovery plan, Nissan looks to cut costs by 250 billion yen. By fiscal year 2026, it plans to return to profitability.
Electrek’s Take
With an aging vehicle lineup and a wave of new low-cost rivals from China, like BYD, Nissan is quickly falling behind.
Nissan is launching several new electric and hybrid vehicles over the next few years, including the next-gen LEAF, which is expected to help boost sales.
In China, the world’s largest EV market, Nissan’s first dedicated electric sedan, the N7, is off to a hot start with over 20,000 orders in 50 days.
The N7 will play a role in Nissan’s recovery efforts as it plans to export it to overseas markets. It will be one of nine new energy vehicles, including EVs and PHEVs, that Nissan plans to launch in China.
Can Nissan turn things around? Or will it continue falling behind the pack? Let us know your thoughts in the comments below.
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