Pedego electric bicycle brand undergoes major changes

The well-known American electric bicycle brand Pedego was recently acquired by the capital backer of Urtopia, an emerging technology company. This acquisition is seen as a powerful alliance between the two brands, aiming to reshape the North American electric bicycle market through technological empowerment and channel optimization. Pedego is popular among middle-aged and older users for its comfortable cruiser models, while Urtopia attracts younger consumers with its carbon fiber frames and smart connectivity technology. This collaboration is expected to result in lighter, smarter electric bicycles and plans to open more than 500 retail stores within the next three years.