E-bike manufacturer Rad Power Bikes and lidar sensor producer Luminar Technologies both filed for Chapter 11 bankruptcy protection on December 15, 2025, signaling further consolidation in the mobility tech industry. Both companies intend to sell their assets as part of the proceedings.
Rad Power Bikes, once a direct-to-consumer e-bike leader, reported $32.1 million in assets against $72.8 million in liabilities. The filing follows a period of financial struggle, including being unable to afford a product recall and owing over $8 million in U.S. tariffs.
Luminar's bankruptcy comes after its largest client, Volvo, terminated a supply contract. The company, which listed liabilities between $500 million and $1 billion, has already arranged to sell its semiconductor subsidiary for $110 million and is seeking a buyer for its main lidar business.