Serial 1 Cycle Company, a premier E-Bike brand announces its acquisition by LEV Manufacturing, Inc. and Lane VC

Acquisition will enhance Serial 1 operations with its USA-Based E-Production, Service and Support, allowing for lower MSRPs.

DEERFIELD BEACH, Fla., Nov. 22, 2023 /PRNewswire/ -- LEV Manufacturing, Inc. (formerly known as Life Electric Vehicles, Inc.), a prominent E-Bike manufacturer with 16 plus years of experience and Lane VC, a mobility focused investment firm announce the acquisition of Serial 1 Cycle Company, LLC. The strategic collaboration signifies a transformative moment for both companies, amplifying their commitment to revolutionize the E-Bike industry and commitment to build the premier bikes in the USA.

The establishment of Serial 1 as an independent brand in 2020 combined Harley-Davidson's world class product development capability and leadership in two-wheel electric propulsion with the agility and innovation of a start-up brand dedicated exclusively to an E-Bike product.  The acquisition by LEV Manufacturing, Inc., a Florida based corporation with vast Light Electric Vehicle manufacturing experience in the USA, positions Serial 1 for even greater success and long-term growth with its expertise in USA-Based E-Bike Production, Service and Support.

With the acquisition, Serial 1 will establish E-Bike assembly in the USA seamlessly aligned with the company's growth strategy. Serial 1's partnering with LEV Manufacturing ensures its commitment to quality and Serial 1's premium E-Bike offerings will be upheld by a dedicated in-house production team in the USA. The addition of new USA based service and support teams is great news for consumers who will see lower bike prices throughout the Serial 1 dealer and sales network.

LEV Manufacturing's industry relationships and decades of experience in designing, manufacturing, and commercializing light electric vehicles, guarantees an advanced product at lower prices. LEV Manufacturing's assembly plant utilizes free-trade zone processes, endorsed by a United States Certificate of Origin, eliminating 3^rd party manufacturing, which will result in a more cost-effective production, allowing for a subsequently lower MSRP (Manufacturer Suggested Retail Price).

Serial 1's executive team expressed enthusiasm, stating, "Bringing E-Bike production to the USA is an important next step for the Serial 1 Brand. We couldn't be more thrilled to announce this acquisition with a perfect partner in LEV Manufacturing, which will help Serial 1 better serve our customers, dealers and master distribution partners worldwide. The added benefit of reducing production costs and subsequently lowering the MSRP is a significant win for our consumers and partnerships." Reduced costs will undoubtedly allow Serial 1 to better position itself to a wider demographic as it falls in line with specific competitive price points globally.

LEV Manufacturing echoed the sentiment, emphasizing the positive impact on the market: "This is the perfect marriage of a great premium American brand with exceptional quality driven American manufacturing. We are very excited to add more jobs to the USA and continue to create world-class products with the acquisition of Serial 1. The cost-cutting measures and the lowered MSRP will further enhance the accessibility of premium E-Bikes for consumers."

Michael Volovitz, leads the Serial 1 Cycle Company's sales and service department as Vice President of Sales, and plays a pivotal role in ensuring a seamless experience for customers, dealers and partnerships alike. With his team's unwavering commitment to expand global positioning, sales and stellar support and service, Michael and his team are ready to assist with any sales and support needs; please feel free to reach out to Michael directly at [email protected].

About Serial 1 Cycle Company

Serial 1 offers premium E-Bikes guided by intelligent, human-centered designs and crafted using the most advanced bicycle technology available. Their mission is to create the easiest and most intuitive way to experience the fun, freedom, and instant adventure of riding a pedal-assist electric bicycle. For more information, visit www.serial1.com.

About LEV Manufacturing

LEV Manufacturing is a USA-based corporation specializing in designing, manufacturing, and commercializing light electric vehicles, with a current emphasis on electric bicycles. Manufacturing its products in Deerfield, Florida, using free-trade zone processes with a United States Certificate of Origin, Life EV aims to support and grow the E-Bike industry while bringing manufacturing jobs back to the USA.

SOURCE Lane VC