LEV Manufacturing, Inc. (formerly known as Life Electric Vehicles, Inc.), a prominent E-Bike manufacturer with 16 plus years of experience, and Lane VC, a mobility focused investment firm announce the acquisition of Serial 1 Cycle Company, LLC. The strategic collaboration signifies a transformative moment for both companies, amplifying their commitment to revolutionize the E-Bike industry and commitment to build the premier bikes in the USA.
The establishment of Serial 1 as an independent brand in 2020 combined Harley-Davidson’s world class product development capability and leadership in two-wheel electric propulsion with the agility and innovation of a start-up brand dedicated exclusively to an E-Bike product. The acquisition by LEV Manufacturing, Inc., a Florida based corporation with vast Light Electric Vehicle manufacturing experience in the USA, positions Serial 1 for even greater success and long-term growth with its expertise in USA-Based E-Bike Production, Service and Support.
With the acquisition, Serial 1 will establish E-Bike assembly in the USA seamlessly aligned with the company’s growth strategy. Serial 1’s partnering with LEV Manufacturing ensures its commitment to quality and Serial 1’s premium E-Bike offerings will be upheld by a dedicated in-house production team in the USA. The addition of new USA based service and support teams is great news for consumers who will see lower bike prices throughout the Serial 1 dealer and sales network.
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LEV Manufacturing’s industry relationships and decades of experience in designing, manufacturing, and commercializing light electric vehicles, guarantees an advanced product at lower prices. LEV Manufacturing’s assembly plant utilizes free-trade zone processes, endorsed by a United States Certificate of Origin, eliminating 3rd party manufacturing, which will result in a more cost-effective production, allowing for a subsequently lower MSRP (Manufacturer Suggested Retail Price).
Serial 1’s executive team expressed enthusiasm, stating, “Bringing E-Bike production to the USA is an important next step for the Serial 1 Brand. We couldn’t be more thrilled to announce this acquisition with a perfect partner in LEV Manufacturing, which will help Serial 1 better serve our customers, dealers and master distribution partners worldwide. The added benefit of reducing production costs and subsequently lowering the MSRP is a significant win for our consumers and partnerships.” Reduced costs will undoubtedly allow Serial 1 to better position itself to a wider demographic as it falls in line with specific competitive price points globally.
LEV Manufacturing echoed the sentiment, emphasizing the positive impact on the market: “This is the perfect marriage of a great premium American brand with exceptional quality driven American manufacturing. We are very excited to add more jobs to the USA and continue to create world-class products with the acquisition of Serial 1. The cost-cutting measures and the lowered MSRP will further enhance the accessibility of premium E-Bikes for consumers.”
SOURCE: PRNewswire