Swiss e-bike manufacturer Flyer has been in the industry for over 25 years. Therefore, it is safe to say that this is one of the many famous brands in the industry. The Swiss company is known for its high-end, high-performance e-bikes that take up leisure space while also offering models suitable for urban environments.
Even though Flyer appears to dominate the market, it appears to be facing some financial problems, suggesting that the company is in dire straits. Numerous reports in European cycling publications have highlighted that the company is on the verge of mass layoffs, with talk already emerging of laying off 25% of its staff.
In fact, the demand for e-bikes is growing all over the world, but the needs of cyclists are changing. During the epidemic, people began riding bicycles for travel, entertainment and fitness. However, the world has now largely moved on from that era and people have returned to their pre-pandemic daily lives. However, the e-bike market varies from country to country as e-bikes are highly recommended in other regions.
If we look at Flyer’s core market (its home country of Switzerland), we see that demand for the brand’s e-bikes has dropped significantly. German publication E-Bike News reported that flyer sales fell by almost 50% in 2022. As a result, 80 of the brand’s current 300 employees are facing layoffs. It’s worth noting that this isn’t final yet: Flyer is reportedly currently working on a plan to address the issue. In fact, laying off employees appears to be the company’s last resort.
Recent times have shown us the plight of several EV startups, especially in the two-wheeler segment. VanMoof, for example, fell out of favor due to its overly complex technology and the large number of unrepaired bicycles. Sondors, on the other hand, is in trouble due to years of backlog of orders. As for the Flyer, the cause for concern appears to be the decline in demand for premium e-bikes. Flyer bikes are quite expensive, with an average price of around €5,000 ($5,300). Other manufacturers making more affordable bikes with similar technology and performance may have something to do with the Flyer’s woes.
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Post time: Jan-31-2024