Bird Unveils New Consumer e-Bike, the Bird Bike

Rhea-AI Summary

On August 19, 2021, Bird announced the launch of its new consumer e-bike, the Bird Bike, as part of its strategy to expand eco-friendly transportation options. The Bird Bike is designed in response to the growing global demand for e-bikes, a market projected to reach $23 billion by 2023. With features like a 50-mile electric range, integrated LCD panel, and Bluetooth connectivity, the e-bike is now available for order at $2,299. This launch coincides with Bird's intention to go public through a merger with Switchback II Corporation (SWBK) and follows its Q2 2021 earnings announcement.

Positive

• Introduction of Bird Bike taps into the growing e-bike market expected to reach $23 billion by 2023.
• Advanced features include a 50-mile range, integrated LCD panel, and Bluetooth connectivity, appealing to consumers.
• Bird's entry into the retail e-bike space diversifies its product offerings beyond shared services.

Negative

• None.

LOS ANGELES, Aug. 19, 2021 /PRNewswire/ -- Bird, a leader in environmentally friendly electric transportation, today unveiled the Bird Bike, a new e-bike that you can own. A limited quantity of Bird Bikes are available to order today, direct from Bird, and will be broadly available from leading U.S. retailers this fall.

Designed to meet increased demand for retail e-bikes globally, a market projected to reach $23 billion by 2023 (source: Deloitte) and that grew 157% year over year in sales in the U.S. in 2020 (source: QYResearch), the Bird Bike provides consumers with a new environmentally friendly and technologically advanced electric vehicle to reduce reliance on gas-powered vehicles. This entry into the consumer e-bike market follows Bird becoming one of the first in the industry to announce its intention to enter the public markets through a definitive agreement with Switchback II Corporation (NYSE: SWBK) and complements the company's Q2 2021 earnings announcement which was also made today.

"The future of transportation is all-electric. By expanding Bird's consumer and shared products to include e-bikes as well as e-scooters, we are uniquely positioned to lead the revolution to eco-friendly transportation for the billions of annual trips that are five miles or less," said Travis VanderZanden, Founder and CEO at Bird. "With our new e-bike, we are creating increased opportunities for people to embrace micro electric vehicles beyond the 300 cities we partner with to provide our shared services today. Our e-bike is safe, durable and provides a stylish aesthetic and advanced technology that delivers a fun alternative to congestion inducing, gas-powered cars. The Bird Bike lets you enjoy the ride like never before."

About the Bird Bike

As part of its mission to enable access to eco-friendly mobility options for all, Bird's consumer e-bike is custom designed by Bird's in-house team of award winning engineers and industrial designers who brought to market the Bird Three, the industry's most eco-conscious shared e-scooter. Bird Bike's features designed to bring fun, safety and reliability include:

• Thumb throttle, inspired by e-scooter throttles, helps tackle inclines with ease
• Integrated LCD panel displays speed, distance and battery capacity
• Bafang rear hub motor makes commuting an effortless breeze
• 36v / 12.8Ah battery, powered by LG cells, delivers up to 50 miles of electric range
• Gates Carbon Belt Drive simplifies maintenance and extends vehicle longevity
• Commercial-grade aluminum alloy frame provides increased durability for urban environments
• Kenda puncture-resistant tires minimize the likelihood of a flat
• Integrated, high-visibility LED Lights ensure 180° visibility any time of day or night
• Pedal assist speed of 20 mph for efficient trips
• Safety certified and IP65+ water resistant battery increases security and safety
• Fully adjustable seat height safely accommodates riders of different heights
• Radius CX7 mechanical disc braking assures stopping power
• Bluetooth connectivity with the Bird app helps Bird Bike owners easily turn on and off vehicle lights, view battery range and miles ridden

Pricing and Availability

Limited quantities of the Stealth Black and Gravity Gray Bird Bike are available now - from shop.bird.co/products/e-bikes-a-frame-stealth-black for MSRP $2,299. The step-through (V-Frame) Bird Bike, as well as the step over (A-Frame) Bird Bike, are expected to be broadly available this fall from leading retailers in the U.S. and in Europe later this year. For additional information about Bird's new e-bike visit: bike.bird.co.

Q2 Fiscal 2021 Earnings Webcast

Separately this morning, Bird announced its financial results for the second quarter ended June 30, 2021 and recent operational accomplishments. A conference call to discuss these financial results and operational updates will be available today, August 19, 2021 at 9am Eastern time. Interested parties may listen to the prepared remarks via telephone by dialing (855) 327-6837 or (631) 891-4304 if calling internationally. Please reference Conference ID 10016077 when prompted. A live audio webcast of the conference call will be available at Bird's Investor Relations Page at bird.co/investor.

About Bird: 

Bird is an electric vehicle company dedicated to bringing affordable, environmentally friendly transportation solutions such as e-scooters and e-bikes to communities across the world. Founded in 2017 by transportation pioneer Travis VanderZanden, Bird is rapidly expanding. Today, it provides fleets of shared micro electric vehicles to riders in more than 300 cities globally and makes its products available for purchase at www.bird.co and via leading retailers and distribution partners. Bird partners closely with the cities in which it operates to provide a reliable and affordable transportation option for people who live and work there.

About Switchback II Corporation:

Switchback II Corporation was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Switchback focused its search for a target business in the broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize in order to meet critical emission reduction objectives.

Media Contact
Jed Hamilton
BirdPR@icrinc.com

Investor Contact
Caitlin Churchill
BirdIR@icrinc.com

 

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SOURCE Switchback II Corporation

FAQ

What is the launch date of the Bird Bike by Bird?

The Bird Bike was launched on August 19, 2021.

What is the price of the Bird Bike?

The Bird Bike is priced at $2,299.

How far can the Bird Bike travel on a single charge?

The Bird Bike has an electric range of up to 50 miles.

What company is Bird merging with?

Bird is merging with Switchback II Corporation, ticker symbol SWBK.

When will the Bird Bike be available from retailers?

The Bird Bike is expected to be available from leading U.S. retailers this fall.