The US electric bicycle industry has undergone a major shakeout over the past two years, with numerous companies going bankrupt, closing down, or being acquired. Against this backdrop, Phoenix-based Lectric eBikes has accelerated its expansion, launching three brand projects this year, betting on the market gap left by the industry downturn.
Approximately US$10 million will be invested this year.
Lectric CEO Levi Conlow told TechCrunch that the company has invested approximately $10 million this year in expansion projects, including relaunching Juiced Bikes, launching Juiced Powersports, and establishing the high-end adventure brand Monarc.
He stated that Lectric achieved its highest monthly sales volume since its founding in May, selling nearly 30,000 e-bikes. The company believes that the current market is not saturated; rather, new growth opportunities have emerged due to competitors exiting the market.
Continue to increase investment after industry consolidation
Over the past two years, several companies in the US e-bike industry have run into trouble. Rad Power Bikes, which received nearly $330 million in venture capital funding, is one of the most high-profile cases. The company was once valued at $1.65 billion, but filed for bankruptcy protection last December, and its assets were subsequently acquired for $13.2 million.
Lectric's expansion path differs from many of its peers. Founded seven years ago by Levi Conlow and Robby Deziel, the company initially relied on its own funds rather than venture capital, only securing investment from private equity firm Bertram Capital Management in 2020.
Independent brands cater to different customer groups
Lectric stated that it aims to ship 150,000 vehicles by 2025, with approximately 90% of its products sold directly through its website, which receives between 2 and 4 million monthly visits. Management believes that having Lectric as a single brand to cover all users would weaken brand recognition, and therefore opted to separate and operate businesses with different positioning.
As currently arranged, Juiced Bikes, Juiced Powersports, and Monarc each have independent product development, branding, marketing, and customer service teams, while Lectric provides supply chain, procurement, and back-end support. Conlow also stated that these brands should maintain a certain level of competition, rather than creating products with similar appearances and positioning.
Monarc's first model will ship in July.
Juiced Bikes was acquired by Lectric in 2025 and relaunched last month. Juiced Powersports plans to deliver its first electric motorcycle in August. Monarc, on the other hand, spun off from an internal Lectric project and debuted as a separate brand this week, headquartered in Minnesota.
Monarc's first model is the Marker all-terrain e-bike, scheduled to ship in July. The model comes standard with two LG 48-volt 15Ah batteries, each with a capacity of 720Wh, and is UL 2271 certified, along with a 5A fast charger. Other features include a Bafang motor, a Shimano drivetrain, and a 3.5-inch color touchscreen that can connect to rearview radar and smart helmets.
