FLYE | Market Cap: $2.8M (08/27/26)
Industry:
Consumer Goods

DESCRIPTION

Fly-E Group sells electric two-wheelers, including E-bikes, E-motorcycles, and E-scooters, under the Fly E-Bike brand. The company primarily targets urban riders and food delivery workers in New York City. To serve the delivery market, Fly-E Group offers products with extended battery range, reinforced frames for cargo, and a battery swap system that allows users to exchange batteries at company stores. Beyond delivery workers, the company sells to general commuters and recreational riders. Fly-E Group operates four retail stores in New York, Massachusetts, California, and Washington D.C., and maintains a network of 64 wholesale distributors. It also sells products online and operates a vehicle rental program called Go Fly in New York City and Los Angeles. The company assembles its vehicles at a facility in Maspeth, New York, and sources components primarily from third-party vendors in China and the U.S. Fly-E Group generates revenue through three channels: wholesale sales to distributors, direct retail sales, and rental services. Wholesale represents the largest portion of the revenue mix, followed by retail. The business model depends on unit volume and the sales mix between retail and wholesale channels. Recently, Fly-E Group has faced challenges related to lithium battery safety concerns and legal issues regarding UL certifications, which New York City law requires for E-bike sales in its primary market.

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