Fidelity Management & Research Company, a private equity firm, led a $154m investment round in Rad Power Bikes, an ebike company. Additional investors include T. Rowe Price Associates, Counterpoint Global (Morgan Stanley), Vulcan Capital, Durable Capital Partners, and The Rise Fund. “We believe that as an industry leader, Rad Power Bikes has a compelling market opportunity to fulfill the potential of ebikes as an effective transportation and mobility solution globally. In our view, they have the management team, technology strength, and operational expertise to succeed over the long term and to play an important role in addressing the world’s current and future climate challenges," Andrew Davis, T. Rowe Price Director of Private Investments.