LOS ANGELES, Oct. 9, 2020 /PRNewswire/ -- ROKiT MADE, a privately-owned company, is building the largest e-bike manufacturing facility in the United States. ROKiT MADE's campus, called the "ORB," is slated to open in 2021. ROKiT MADE has committed the necessary funds to building the infrastructure and ORB campus and plans to merge with a SPAC.
ROKiT MADE is capitalizing on the rapidly growing e-bike market by offering the best-in-class e-bike models across all price points in each market segment. To date, ROKiT MADE has signed the exclusive rights to 10 consumer-tested designs from established e-bike companies and will be licensing more.
ROKiT MADE is reimagining American manufacturing by moving away from the current trend of robotics and artificial intelligence, and instead utilizing human intelligence and American labor. Large enough to accommodate over 2,000 workers, the ORB is designed to be visible to the naked eye from the International Space Station. ROKiT MADE will provide on-the-job training for its employees and assist in boosting the local economies.
"We are bringing manufacturing jobs to America," said Jonathan Kendrick co-founder of ROKiT MADE. "ROKiT MADE is the future of American manufacturing. We are dedicated to identifying, licensing, and manufacturing cutting-edge products. The focus is on building e-bikes in our Las Vegas ORB campus, which is strategically situated in an enterprise and duty free foreign-trade zone."
With analysts predicting that 130 million e-bikes will be sold globally between 2020 and 2023, ROKiT MADE sees a strong opportunity in entering the e-bike market. In 2018, the global e-bike market size was $7.68 billion USD. According to a May 2020 study by Fortune Business Insights, the global e-bike market is expected to reach $46.04 billion USD by 2026 with a CAGR of 24.5% between 2020-2026.
Currently, there are only a small handful of e-bike manufacturers in the U.S. with an extremely limited production capacity. In the first year, ROKiT MADE will build 300,000 e-bikes with plans to ramp up production to 900,000. ROKiT MADE will take on the marketing, and both retailer distribution and direct-to-consumer sales. ROKiT MADE will benefit from the expertise and recognition of ROKiT, a global brand and company co-founded by John Paul DeJoria and Jonathan Kendrick, which has secured over 11 billion media impressions through its various global sponsorships.
"There is no better time than now to invest in a new American manufacturing facility, and that's exactly what ROKiT MADE is doing," said Dean Becker, Chairman and CEO of ROKiT MADE. "We have studied the e-car business for a several years and noticed that the existing concepts for the public new entrants into the e-car business and other e-mobility sectors are currently flawed; none of the companies show serious consideration to where their vehicles will be manufactured and built. We believe that to create a strong e-mobility business you have to start first with the facility, and then move on to the product. By ensuring that the build and assembly of our products will be done domestically we are adding American-built value to our products."