Lease a Bike’s expansion into the U.S. with employer-sponsored program encourages greener commutes and healthier lifestyles

Novato, California, April 18, 2024 - Lease a Bike, the world’s largest bike leasing program, has announced its entrance into the U.S., starting with California. The move, powered by the financial strength of Volkswagen Financial Services AG, introduces U.S. companies and employees to a successful employer-sponsored initiative designed to make bicycling more accessible and appealing. The corporate benefits-based program helps decrease a barrier to entry for bike ownership by providing simple, affordable bike leasing options that include maintenance as well as theft and damage insurance. Lease a Bike aims to address common commuting challenges such as traffic congestion, promote physical and mental wellness among employees, and support environmental sustainability while helping employers attract and retain talent.

Lease a Bike is leveraging its European experience to launch its unique offering in the U.S. To date, more than 65,000 companies globally have joined its bike leasing program. Supporting Lease a Bike's entry into the U.S. market is a strategic partnership between Volkswagen Financial Services AG (VWFS), a vehicle leasing and financing provider, and global mobility giant Pon Holdings, the world’s leading bicycle company known in the U.S. for ownership of renowned bike brands such as Cannondale, Cervélo, Mongoose and Santa Cruz. The collaboration between VWFS and Pon combines global and local expertise in both the bicycle industry and financial back-office backbone, providing a stable foundation for Lease a Bike’s growth strategy. Lease a Bike is partnering with a strong independent bicycle network, enabling local bike shops to participate in and benefit from its bike leasing program.

Taking Lease a Bike for a spin

In a major endorsement of Lease a Bike’s U.S. launch, technology company Bosch has piloted the innovative employer-sponsored bike leasing program at their Sunnyvale, California office. For over a year, Bosch contributed $50 monthly towards each participating employee's bike lease, supporting better health and leading to a 50% increase in the number of people biking to work at least three times per week. Michelle Zell, Director of HR at Bosch Sunnyvale, highlighted the program's impact, stating, "Many participants would not have considered getting an eBike if it weren't for this opportunity. Lease a Bike not only allows employees to pick their dream bike and (re)discover the joy of riding but also provides employers with a seamless, automated program that takes the hassle out of the process. The user-friendly online portal and local bike shop expertise ensure that even those new to biking can easily start enjoying the benefits of cycling."

"This next launch of Lease a Bike marks an exciting step toward making bikes more accessible to U.S.-based employees. Our innovative program meets a critical need for employees, employers, and governments alike. Through partnerships with local bike shops, we offer customers a wide range of traditional and eBikes that help make commuting fast, easy, and healthy. I am proud that Lease a Bike is able to contribute to greener commutes and healthier lifestyles." said Milou Smeets, President of Lease a Bike United States. She will be participating in a panel discussion at the California Bicycle Summit in San Diego on April 18. Additionally, Lease a Bike will be showcasing its program at the Sea Otter Classic, from April 18-21, in Monterey, California.

Lease a Bike on the global stage

Beyond offering access to amateur cycling enthusiasts, Lease a Bike also proudly partners with one of the world’s most successful professional cycling teams, Team Visma | Lease a Bike. The team achieved a remarkable sweep of all three grand tours in 2023, including a victory by American cyclist Sepp Kuss in the Vuelta a España. This achievement highlights the program's strong connections within the cycling community and its dedication to excellence and promoting a cycling culture on a global scale.

About Lease a Bike

Lease a Bike works with employers and local bike dealers to provide a bike-leasing program for employees. It’s a simple, straightforward service for companies that can enhance employee lives and retain talent. Incentivizing workers to ride bikes can reduce parking costs, help get remote workers back in the office, and lead to a healthier, more productive workforce. Lease a Bike is part of Bike Mobility Services (BMS), a strategic alliance of Volkswagen Financial Services and family multinational Pon Holdings. It is Europe's leading bike leasing company operating in six countries: Germany, the Netherlands, Austria, Belgium, Sweden, and now the U.S. BMS aims to develop sustainable and affordable bike mobility services for employers and their employees. Currently, BMS brands like BusinessBike, Lease a Bike and B2Bike provide company bikes to over 600,000 people working in 65,000 companies across Europe and recently the U.S.

About VWFS

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial service business of the Scania brand and of Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, bank and insurance activities, fleet management, and mobility services. Volkswagen Financial Services has a total of 18,171 employees worldwide.