Pon Holdings acquires Faraday Bicycles
Pon Holdings has acquired Faraday Bicycles as of January 1, 2017. Faraday Bicycles is a strong lifestyle brand that manufactures lightweight and stylish eBikes for the modern rider. The company is based in San Francisco, CA, USA.
With its beautifully designed bicycles and sophisticated integrated electrical and connectivity solutions, the Faraday brand stands out in the eBike market. The product range consists of bike models that can be personalized to match the customer’s needs and preferences. Faraday Bicycles was established in 2012 by Adam Vollmer, a former design engineer. After an extensive R&D process Faraday started production in 2014. The brand has grown explosively in just two years’ time and is now being sold in more than than 90 bicycle retail locations across 23 US states.
North American footprint
Demand for eBikes as a sustainable and affordable solution for commuters is growing throughout North America. Pon already successfully markets eBikes in North America, and the addition of a strong local bicycle brand in the comfort segment is key to realizing its growth ambitions in coming years. The combination of Faraday Bicycles’ innovative products and the advantages of scale represented by the international Pon organization significantly increases both parties’ growth potential.
Faraday Bikes will retain its headquarters in San Francisco and will continue operations as an autonomous brand. Adam Vollmer will continue to act as the Managing Director, driving the further expansion of Faraday Bicycles with his committed and energetic team. (www.faradaybikes.com)
Within the Pon group, Faraday Bicycles will be a subsidiary of the bicycle division Pon.Bike. The premium brand portfolio currently consists of more than 10 bicycle brands. The group has locations in the Netherlands, Germany, the United States, Canada, China, Taiwan, and Australia. In 2017 some 800,000 Pon bikes will make their way to customers around the world, with expected total revenue of about 700 million Euros.
Pon – one of the Netherlands’ biggest family businesses – is a leading global company with nearly 13,000 employees operating in 32 countries. It supplies high-end products and solutions, develops and manufactures bicycles, and offers engineering solutions in several market segments. Pon operates in a large number of markets, from private and commercial vehicles and bicycles, to forklift trucks, tires, road and earthmoving machinery, generators, and total solutions for the shipping industry.