Cowboy E-bikes Rescued From Collapse Thanks To Rescue Deal

E-bike institution Cowboy has secured short-term financing that would let its operations to spell backmost to normal aft a play it describes arsenic nan "most challenging successful [its] history." The institution has revealed that it has signed a word expanse pinch a caller partner, Rebirth, which it believes would pave nan measurement for semipermanent stability. As The Verge notes, Rebirth is nan genitor of ReCycles, nan salient French shaper that took complete motorcycle assembly for Cowboy backmost successful February.

For rather immoderate time, nan company's destiny was up successful nan air. Cowboy explained that complete nan past mates of years, it has been deed by respective problems that are plaguing nan full industry, including nan post-COVID shifts successful nan request for e-bikes and monolithic proviso concatenation problems. On apical of those, it had to motorboat a recall for immoderate of its Cruiser ST bikes erstwhile their frames started to ace aft 2,500 kilometers (1,553 miles), which Cowboy said "added strain to an already difficult time." It explained that nan rumor was caused by 1 of its suppliers making an unauthorized alteration to nan bikes.

Cowboy has admitted that owed to nan issues it faced, customers knowledgeable a batch of delays and that it wasn't capable to pass things pinch them clearly. Now that it has secured financing, nan first replacement frames for nan recalled bikes person yet arrived from its supplier and it was capable to commencement operating its first callback center, pinch much to travel successful nan summer. "We are not yet wherever we want to be, but we are here," nan institution said in nan email it has sent its customers. "Still standing. Still fighting. And much wished than ever."