LEVA-EU member Promovec is set to launch a range of its e-bike models to selected bike dealers in Denmark, Sweden and the UK, with availability commencing in Spring 2026.
The ranges launching in the three countries include those from Promovec’s Batribike brand, which offers classic two-wheeled e-bikes with a focus on price, quality and functionality. Promovec state that the range of bikes come in familiar designs but also feature upgraded, high-quality components across three distinct price categories.
Promovec’s new electric cargo bike brand, Humber Bicycles, will also be introduced, with two- and three-wheeled models available.
The LEVA-EU member has announced the appointment of René Tandrup as its new Chief Commercial Officer (CCO) and member of its top management team, as it aims to strengthen its market position and brand expansion.
In his new role, Tandrup is leading Promovec’s newly established commercial department, which unites the company’s sales and marketing operations under one structure. The move marks a key milestone in Promovec’s strategy to enhance its commercial focus, strengthen brand visibility, and accelerate international growth.
Tandrup brings extensive leadership experience from the textile industry, having previously served as CCO at TEE JAYS and CCO at ID Identity. His recent completion of an Executive MBA specializing in Leadership Psychology further supports his transition into the fast-growing e-mobility and battery technology sector.
At Promovec, Tandrup will oversee the launch and brand development of two new e-bike lines – Batribike and Humber Bicycles – both of which showcase Promovec’s expertise in Danish-designed e-bikes and lithium-ion battery systems.
The Danish e-mobility company has stated that it believes René’s commercial background and proven track record in brand development make him a strong addition to its leadership team, with his strategic insight and customer-driven approach playing a key role in shaping Promovec’s next growth phase.
The appointment comes as Promovec continues to expand its presence in the European e-bike market, reinforcing its commitment to innovation, sustainability, and high-quality electric mobility solutions.
LEVA-EU member Promovec has been showcasing its own new brand, Humber cargo bikes, and British e-bike brand Batribike, at expo events organised by bicycle wholesaler Søndergaard & Sønner, and at Promovec’s own CYKELLIV fair in Aarhus, Denmark.
Humber Bicycles is a new e-cargo bike line launched by Promovec, with both two- and three-wheeled versions available to suit a variety of rider needs. Promovec states that they are durable, reliable, and designed with usability and smart details in mind.
Batribike is a British e-bike brand which is now relaunching onto the Danish market with new models specifically tailored to Scandinavian riders. The e-bikes, which come to Denmark in familiar designs but with upgraded, high-quality components, are available in three price categories.
Promovec has initially revealed the Humber and Batribike models at Søndergaard & Sønner expo events in Sabro and Tasstrup, ahead of a formal launch at their own CYKELLIV fair from September 21-23 at their facilities in Aarhus.
The LEVA-EU member has announced that Ivan Jacobsen has joined its company to complement the existing sales team, and provide service to customers and dealers across Denmark.
Jabcobsen, a highly reputable and recognisable figure in the Danish bicycle industry, joins the e-bike brand from his Sales Consultant role at HF Christiansen, a company where he had been working since 2014.
Jacobsen has been involved in the Danish e-bike market since its early days, beginning in 2005 with his work at Seniorland selling electric bikes. Although sales were slow initially, the market steadily grew, and now accounts for a significant share of total bicycle sales in Denmark, with Jacobsen’s sales efforts making a notable contribution through the years.
Promovec is delighted to welcome Ivan Jacobsen as a valuable asset for its team with his strong network and extensive experience.
The Mayor of one of Denmark’s largest cities met with LEVA EU member Promovec at its Northern Aarhus site to explore how the e-mobility brand can support Aarhus’ ambitious Green Mobility Plan.
Promovec has been developing innovative mobility solutions with its extensive experience for 20 years as it strives to bring a wide selection of e-bikes and e-systems to support greener urbanisation. A key initiative of Aarhus’ Green Mobility Plan is electric bike promotion with the region aiming to increase its bicycle traffic by 50% by 2030.
The Promovec team was delighted to welcome the Mayor of Aarhus, Anders Winnerskjold, and business consultant Lars Mattson to its site. They demonstrated to them how their cutting-edge products and expertise can benefit Aarhus, and also invited them to trial a Promovec cargo bike.
The brand looks forward to further discussions with the Mayor about how it can support Aarhus to be carbon neutral by 2030.
Aarhus’ Green Mobility Plan
As one of the largest and fastest growing cities in Denmark, Aarhus City Council recognised the growing need for efficient and sustainable transportation that can reduce congestion while meeting the spatial constraints of its increasingly expansive urban area.
This led them to implement an ambitious Green Mobility Plan with a strategy to achieve carbon neutrality by 2030, creating a greener city to facilitate more space for urban life and commerce. The plan is underpinned with various initiatives to encourage sustainable travel, such as improving cycling infrastructure, optimizing electric vehicle charging infrastructure, adopting low-emission transport zones and focusing on road pricing to reduce congestion.
The Green Mobility Plan encourages participation from various stakeholders such as Aarhus citizens, businesses, interest groups and community councils as the Aarhus City Council evaluates the progress of its sustainability initiatives annually.
Acquisition by LEVA-EU member Promovec represents 100% Danish-owned status for the Aarhus-based battery manufacturer Viridus Manufacturing A/S, marking the end of joint venture with Chinese company Greenway.
Based in northern Aarhus, Denmark, Viridus Manufacturing A/S produces lithium-ion battery solutions for e-bikes and other applications such as robots and industry. It was founded in 2019 as a joint venture between Danish e-bike solutions company Promovec Group A/S, and Chinese company Greenway, with the latter holding a majority stake of 51%.
Scandinavian batteries, global customers
Since the founding of Viridus, the intention was to establish a Scandinavian battery production facility that could compete in the global market, and it has experienced keen interest from companies worldwide for their customised battery solutions.
In 2023, Promovec moved to acquire a further 26% of Viridus, bringing their total ownership stake to 75%. With this latest acquisition, the company now owns 100% of the battery manufacturer.
“We are very pleased with the deal and see it as a key investment in Viridus Manufacturing’s future. The company has grown to a size where full ownership makes sense for us. We see clear advantages in building a Scandinavian battery offering while supporting greener battery production, including sourcing more and more battery components locally,” says Jesper Lundqvist, Founder & CEO of Promovec.
A vision to quadruple revenue
In 2022, Viridus moved into new facilities in northern Aarhus built according to sustainable DGNB standards. Currently the company produces approximately 40,000 batteries annually, and has ambitious goals for the future.
“Our goal is to quadruple revenue within the next four years. With this acquisition, we can now focus our energy on developing the company. In the new year, we will launch a strategic process to set the direction for the coming years,” says Jesper Lundqvist.
Viridus is also in the process of starting its own production of electric motors, a key component in e-mobility alongside batteries.
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Although the e-bike industry is experiencing financial turbulence, Promovec CEO Jesper Lundqvist remains optimistic about the company’s future, driven by robust ambitions and strategic innovation.
Founded several decades ago, Promovec holds approximately half of Denmark’s electric bike market, positioning itself as a leader during a transformative period in the sector.
Despite several competitors facing severe financial difficulties, including near-bankruptcies and market exits, Lundqvist is confident in Promovec’s stability and growth prospects. Speaking from the company’s headquarters in northern Aarhus to Danish media Ehherv, he highlighted the adaptability and resilience of Promovec in an evolving market.
“If you go into our battery production, you will not find a single product that we produced a year ago. Right now, there is a drastic change taking place, and it is of course a challenge, but I think we manage to adapt, and right now we are in a really good place,” Lundqvist remarked.
Market dynamics and industry challenges
The electric bike market has seen a significant shift, with many new players entering the arena, leading to increased competition. However, the industry’s landscape is also marked by financial instability, as evidenced by the struggles of companies like Mate Bike and Strøm Cykler. This instability extends beyond Denmark, affecting markets in Austria and Switzerland as well.
Promovec has not been immune to these challenges, experiencing a notable dip in financial profits from DKK 32 million and 25 million in the fiscal years 2020/2021 and 2021/2022, respectively, to DKK 5.6 million in the last fiscal year. Nevertheless, Lundqvist attributes this decline to the exceptional market conditions during the COVID-19 pandemic and remains confident in the company’s current position.
“The market has stabilised at a slightly lower level, which is more reminiscent of the pre-pandemic era, and we are still in a strong position due to our brand and our mobility,” he explained.
Innovative beginnings and strategic growth
Promovec’s journey began with a different focus. Initially envisioned as a provider of assistive devices for seniors, inspired by Lundqvist’s wife’s work as a physiotherapist, the company pivoted to electric bikes after recognizing a market opportunity. This shift proved prescient, with electric bikes evolving from niche products for those with physical challenges to mainstream transportation options embraced by a broad demographic.
“Back in the mid-noughties, the electric bike was quite new, and it was something you only used if you had a bad knee, a bad hip or were otherwise challenged on your physique. This is not the case at all today, when the electric bike is a means of transport for everyone,” Lundqvist noted.
Commitment to Danish production and sustainability
Promovec’s success is partly attributed to its commitment to Danish production. Lundqvist believes that owning the technology and controlling the production process is crucial for both quality and sustainability. This approach aligns with broader societal trends towards health, green transition, and adherence to ESG (Environmental, Social, and Governance) legislation.
“It has turned out that our business speaks well to different trends in society. For example, the development in health – i.e. this thing about transporting yourself by bicycle rather than by car, says Jesper Lundqvist and continues “But also within the green transition and most recently with ESG legislation, which in my world is linked to technology in the sense that technology you have to own..”
Future vision: quality over quantity
Looking ahead, Lundqvist envisions a future where Promovec’s products stand out for their durability and quality, challenging the prevailing buy-and-throw-away culture. This mission, while potentially reducing the volume of sales, aligns with his broader goal of contributing to a more sustainable world.
“I would rather that we disrupt the market than others do, and that we then have to adapt. It can be our contribution to a better world if we can succeed in convincing a fraction of consumers that it is worth paying the extra for quality,” he asserted.
Promovec’s nomination for the prestigious EY Entrepreneur Of The Year award underscores its success and commitment to growth, quality, and sustainability. As the company continues to innovate and expand, Lundqvist’s leadership and vision will undoubtedly shape its trajectory in the dynamic electric bike industry.
Danish electric bicycle specialist, Promovec Holdings, has announced this week that they have furthered their relationship with UK bike brand Batribike by completing a full takeover of the manufacturer.
The successful partnership began in 2017 when Promovec bought into the business as a shareholder. The remaining quota has now been sold to Promovec by founders Steve Coulson and his wife, Jackie, both of whom are close to retiring. A new MD is to be assigned to run the company under its new guise, Batribike Limited (a subsidiary of Promovec Holdings), but until then, Steve Coulson will continue to direct the business and ensure the transition is trouble-free.
Promovec Holdings CEO, Jesper Lundqvist, commented that they are keen to put a strategy in place to grow the business, “We are looking forward to working with our dealer network to grow the business together and to develop the future e bike range.” Jesper went on to divulge the primary responsibility of the incoming MD, namely, “to grow the business further and move Batribike from the number four preferred supplier to independent stores, as discovered in CI.N research in 2021 to the number one position in future surveys.”
Batribike is a certified success story, having overcome difficulties generated by the pandemic jeopardy to report a growth in year-on-year sales for the past five years. The bicycle sector was hit hard by the pandemic, with component shortages, factory closures et al, but Batribike continued to provide high levels of service in this volatile period. The correlation between the two businesses is a major contributor to this success story, and the takeover from Promovec will maintain the wonderful relationship that Batribike currently has with its customers via investments and product development.
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Updates from LEVA-EU member, Promovec:
New Battery Line
Provomec has a new production line enabling the brand to produce battery packs with larger cell format (21700), offering more charge cycles and more energy per volume. This is expected to begin running in October 2021. View the photos on LinkedIn here.
Minimalistic e-bike display and controls
Provomec’s new Smart Grip has integrated display and controls, significantly increasing safety whilst cycling, receiving a Eurobike award for its patented design.
“It is an advanced grip with buttons and a display integrated into the left handle,” explains Promovec spokeswomen Monika Figen at Eurobike. “The grip shows user interactions in the display and has haptic feedback when pressing the buttons.”
