Chinese intelligent e-bike brand Urtopia acquires long-established US e-bike brand Pedego | Latest news

Author: Peng Li

Editor: Yuan Silai

36Kr learned that in November 2025, Urtopia, a Chinese intelligent E-bike brand, just completed a strategic acquisition of Pedego, an established American E-bike brand.

Founded in 2008, Pedego is one of the earliest electric bike brands in the United States and once topped the sales list in the country. Its products emphasize practicality, reliability, and convenience, and are highly recognized among users who prefer comfortable rides and seek stability.

After the transaction is completed, Urtopia will establish a local company, New Pedego, in the United States to take over all of Pedego's brand, business, and channel resources. The original management team will continue to lead the operation, and the Pedego brand will maintain independent development. Urtopia targets the younger generation and high-end consumers who pursue technology, performance, and design sense, while Pedego will continue to serve the vast number of middle - aged and elderly users and family users who value comfort, convenience, and a sense of community, so there will be no competition.

Larry Pizzi, the former CEO of Pedego, will also stay on. He is one of the most senior experts in the American bicycle industry, with over 30 years of industry experience. He served as the senior vice - president of Accell Group, the largest bicycle group in Europe, and is also one of the founders of People for Bikes, an American bicycle industry organization.

According to Zhang Bo, the co - founder of Urtopia, multiple companies competed for this acquisition, and Urtopia's strong R & D capabilities and supply chain construction gave it an edge. In addition to its self - developed AI system, the self - developed mid - drive motor Quark DM 1.2 released by Urtopia is one of the current "lightest / high - torque density" electric assist bike motors.

Urtopia's classic carbon fiber electric bike

In terms of the supply chain, Urtopia currently has its own supply chains in China, Southeast Asia, and Europe. "The factories can carry out production according to the automotive automation standards and are very compliant."

Pedego has deep offline channel accumulation in the United States. As early as the beginning of 2025, Urtopia entered Pedego's franchised stores, laying a foundation of trust for the subsequent acquisition. Different from the common IBD (independent bike dealer) model in the industry, Pedego is the only electric bike company in the United States with a franchised exclusive channel network. At its peak, it had 220 franchised stores in the United States. The products sold in the stores and the brand's tone are completely dominated by the brand side, with a unified image and unified management.

The future battlefield of Ebikes has shifted from Europe to the United States. On the one hand, the European market is approaching saturation. On the other hand, due to factors such as the Russia - Ukraine war and economic development, the purchasing power in Europe has declined. As the data released by the British Bicycle Association (BA) in 2025 shows, the market sales of electric bikes also decreased by 5% in 2024, estimated at 146,000 units, accounting for only 9% of the total bicycle sales.

The US market, on the contrary, shows a strong growth momentum. Zhang Bo explained that industry insiders generally believe that Ebikes are commuting tools in Europe and toys in the United States, so the US market is relatively small. However, since 2019, the sales volume in the United States has been growing by more than 15% every year. "In 2021, the shipment volume of Ebikes was only 1 million units, and by 2024, it had reached 2.2 million units. Currently, the penetration rate of Ebikes in Germany has exceeded 30%, 50% in the Netherlands, and is still very low in the United States, less than 5%."

Urtopia has reaped the dividends of the early market. Zhang Bo revealed that Urtopia's revenue in 2025 was three times that in 2024.

The acquisition of Pedego will be an important part of the layout in the United States. After integration, the cumulative number of users of Urtopia and Pedego is nearly 300,000.

Urtopia's carbon fiber fusion GT electric bike suitable for long - distance rides

Next, Urtopia will use its own supply chain capabilities to replenish the inventory for Pedego's channels. At the same time, the R & D teams of both sides have closely cooperated. On the basis of retaining the tone of Pedego's classic aluminum alloy models, they will integrate Urtopia's AI intelligent technology to develop a new generation of smart products. In addition to its existing products, Urtopia is also developing smart peripheral products, such as smart helmets and smart rings, which will all be introduced to Pedego for sales.

From a longer - term perspective, Zhang Bo told Yingke that in the future, the company will shift from one - time hardware sales to providing continuously charged value - added services by packaging software and hardware subscription services, forming an ecological matrix around cycling. "For example, the AI service we are already selling now, which includes functions such as recording sports health, voice control, and anti - theft, is packaged and sold for $39 a year." Zhang Bo introduced that 80% of the users who bought Urtopia's bikes have subscribed to this service.

In addition, one of Urtopia's advantages - a strong supply chain will continue to play a role. They plan to build a local supply chain in the United States. "Our goal is to expand the number of stores to more than 500 within 3 years and re - establish Pedego's position as the largest E - bike chain brand in the United States."