UTO

About UTO

Eovolt is a French manufacturer specializing in the design and assembly of folding electric bikes. Founded in 2018 by friends Baptiste Fullen and Luca Chevalier, the company was born from their desire to address a gap in the market for e-bikes that were not heavy, cumbersome, or aesthetically unpleasing. Their core idea, sparked by seeing a cyclist hide a motor in a seatpost for a race, led to their signature design feature: integrating the battery directly into the seatpost. This approach provides three key benefits: it allows for easy removal of the battery for charging, creates a clean and streamlined look that doesn't immediately identify it as an electric bike, and centralizes the weight for improved balance and stability.

The company operates from its own factory in Genas, near Lyon, where it handles in-house design, R&D, wheel building, and final assembly, ensuring quality control over its products. Eovolt's business model is primarily B2C, selling its bikes through a network of approximately 1,000 retailers across 20 countries in Europe and beyond. International sales account for a significant portion of its business, with over 60% of bikes shipped overseas. The company also engages in B2B solutions, offering company bike fleets and leasing options for employee mobility. Revenue streams are generated from direct sales of their bikes, accessories, and these corporate partnerships.

Eovolt has secured significant funding to fuel its growth, including a €16 million Series B round in September 2022 from investors including RAISE and Financiere Arbevel. This investment aims to increase production capacity and support continuous product development. The company has demonstrated a commitment to constant improvement, reinvesting about 10% of its turnover into R&D and making numerous small enhancements to its models each year based on user feedback. In June 2024, Eovolt acquired 1886 Cycles, a vintage bike manufacturer, to create synergies in component purchasing and expand its product portfolio. The product lineup includes several models with distinct wheel sizes and purposes, such as the "Morning" for commuting, the bestselling "Afternoon" for versatility, and the newer, award-winning "Afternoon Pro," which features a belt drive, automatic gearing, and multiple patented innovations. The company also offers non-electric versions of its popular models.