Faraday Bicycles, a supplier of lightweight electric bicycles based in San Francisco, was acquired by Pon Holdings as of the start of this year. Faraday was established in 2012 by Adam Vollmer, a former design engineer, who is to remain its managing director, driving the brand's expansion with his team from San Francisco. Pon Holdings is the Dutch automobile import company that started investing in the bicycle market with the acquisition of Gazelle in 2011 and went on to rapidly snap up other bicycle brands, from Cervélo to Derby, Santa Cruz and several others. Made at a small factory in Taiwan, Faraday's original e-bike hit the market in 2014, and the brand is currently sold in the U.S. market only. However, Pon's infrastructure should be useful for the U.S. brand to expand in international markets. Pon described Faraday in a press release as a brand that stands out in the market with beautifully-designed bicycles and high-end integrated electrical and connectivity solutions. The battery of the Faraday Porteur, which has a vintage appearance, is fitted between the two bars of a double top tube. Pon already distributes other brands of e-bikes in North America. The deal was sealed at an undisclosed price. Bike Europe reports that Pon is set to have a turnover of about €700 million with sales of 800,000 bicycles in 2017.

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