Powabyke £1m Sale
Powabyke, one of Britain’s biggest makers of electric bicycles, has been bought by Metroelectric, an investment company specializing in electric cars, vans and scooters for urban use, for about £1 million.
Metroelectric said that the deal would “substantially broaden” its product offering in a fast-growing market. Powabykes take about five hours to charge and cover up to 15 miles, although this will increase by pedaling. The company was set up in 1999.
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