Price Adjustments Due to Section 301 Tariffs Impact

June 11, 2024 - Favoto, an electric bike industry, announces an upcoming adjustment in product pricing as a result of recent changes in Section 301 Tariffs. The previously granted exemption for bikes and e-bikes has not been extended, leading to a 25% increase in duty. This development will inevitably affect the overall cost structure within the industry.

Effective June 11, Favoto will implement new pricing to reflect this tariff increase. This adjustment is crucial for the brand to continue sourcing high-quality materials and upholding the exceptional standards that customers have come to expect.

"We understand that any price increase can be concerning. We deeply appreciate our customers' understanding during this time. This necessary adjustment ensures that we can maintain our commitment to quality and sustainability, while also contributing to a more balanced and fair trade ecosystem."

Favoto is dedicated to delivering top-tier products and excellent customer service. The price adjustment is a strategic move to sustain the brand's long-term growth and ability to innovate, providing customers with the best possible biking experience.

Customers with any questions or concerns are encouraged to reach out to Favoto’s customer service team for assistance. Favoto values the continued support and understanding of its customers as the company navigates through these changes.

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Best Regards