How Lectric Thrived While Venture-Funded E-Bike Startups Struggled

Lectric eBikes, the Phoenix-based company best known for its affordable and practical XP-series electric bicycles, has introduced three new brands this year: a revived Juiced Bikes, a new Juiced Powersports division, and a premium adventure-focused brand called Monarc. The expansion comes at a time when many e-bike companies are facing financial difficulties, making Lectric’s strategy stand out in an industry marked by consolidation and closures.

According to CEO Levi Conlow, the company has invested roughly $10 million across these initiatives.

“While others are pulling back or raising additional capital, we’re actively investing and launching new projects,” Conlow said. “I don’t believe the market is saturated. Last month was the biggest sales month in Lectric’s history, with nearly 30,000 bikes sold. I’m not sure anyone achieved those numbers before, even during the peak pandemic years.”

The timing may appear unusual. Over the last two years, numerous e-bike brands have filed for bankruptcy, exited the U.S. market, or been acquired by larger companies. Among the most notable examples was Rad Power Bikes, which raised nearly $330 million in venture funding and once reached a valuation of $1.65 billion before filing for Chapter 11 bankruptcy protection. Life Electric Vehicles Holdings eventually acquired its assets for $13.2 million.

For Conlow, however, those struggles have created opportunity.

“To me, it has opened the market,” he said after naming several competitors that have folded or retreated. “I think there’s actually less meaningful competition today than there was a few years ago.”

Lectric’s success stems from a very different path. Conlow and co-founder Robby Deziel built the company without venture capital after founding it as childhood friends seven years ago. The company later accepted investment from private equity firm Bertram Capital Management in 2020. What began as a small startup has since grown into one of the largest direct-to-consumer e-bike brands in the United States, shipping around 150,000 bikes during 2025.

The company’s strategy has been straightforward: remain profitable, avoid overextending, and expand when competitors weaken. Still, Conlow believes growth must be carefully managed.

“What we’ve learned is that Lectric can’t be everything to everyone,” he said, pointing to the company’s already broad lineup of folding bikes, commuter models, and electric tricycles. Roughly 90% of sales come directly through its website, which attracts between two million and four million visitors each month.

Rather than stretching one brand across every customer segment, Lectric has chosen to operate separate brands for different audiences. Conlow said that prominently featuring Juiced Bikes products on the Lectric website, for example, could distract from the company’s flagship XP series and create confusion among customers.

“You have to be intentional,” he explained. “When you stay focused, you can go deeper into a category and build customer service, marketing, and branding specifically around that audience.”

That philosophy has shaped the company’s approach to Juiced Bikes, Juiced Powersports, and Monarc. Lectric acquired Juiced Bikes in 2025 and relaunched it earlier this year. Juiced Powersports is preparing to ship its first electric motorcycle in August, while Monarc recently launched as an independent premium brand headquartered in Minnesota and led by industry veterans Julia Moran and Ryan Callahan.

Each business maintains dedicated engineering, product development, marketing, branding, and customer support teams. Conlow even welcomes competition between the brands.

“We don’t want three companies that look, perform, or feel identical,” he said. “There should be healthy competition between them.”

Monarc is positioning itself as a premium adventure brand with a customer-focused approach that includes a five-year warranty and phone support handled by human representatives. Conlow emphasised that none of the company’s brands plans to rely on AI for customer service.

Monarc’s first model, the Marker, is an all-terrain electric bike scheduled to begin shipping in July. It features dual LG 48-volt 15Ah batteries delivering 720 watt-hours each, a setup that remains uncommon in the e-bike market. The batteries are UL 2271 certified and paired with a 5-amp fast charger. Other premium features include a Bafang motor, a Shimano drivetrain, and a 3.5-inch colour touchscreen that connects to accessories such as rear-view radar systems and smart helmets.

At present, Monarc employs around 10 people, while the two Juiced divisions each have about eight employees. Lectric itself has approximately 170 staff members. Although the brands operate independently, they benefit from Lectric’s established supply chain, purchasing power, and operational infrastructure.

Whether the company will continue launching additional standalone brands remains uncertain. Conlow said Lectric continues to evaluate opportunities but is focused on successfully growing its current portfolio.

“We’re always exploring possibilities and keeping our eyes open,” he said. “But we’ve already got a very full plate, and our priority is staying focused on what we’ve built.”