Schwinn and Toshiba Collaborate to Dramatically Alter the Electric Bike Market



    Worldwide Collaboration between two of the most recognizable brands on
the planet will allow riders to recharge their Schwinn Tailwind eBikes in
30 minutes through a standard electrical outlet, one-eighth (1/8th) the time
of competing electric bikes (or less)

    BETHEL, CT, Sept. 24 /CNW Telbec/ - Schwinn Bicycles, America's most
recognized bicycle brand today announced a strategic collaboration with
Toshiba Corporation (TOKYO: 6502) that is expected to dramatically alter the
electric bicycle landscape in the United States and around the world. Schwinn
Bicycles is part of the Cannondale Sports Group Division of Dorel Industries
Inc. (TSX: DII.B, DII.A).
    Schwinn has incorporated Toshiba's new Super Charge ion Battery (SCiB)
technology into the Schwinn Tailwind, a brand new electric bike to be formally
unveiled today in Las Vegas to bicycle dealers attending the annual Interbike
International Bicycle Expo, the largest bicycle trade industry event in North
America. The Tailwind will also be showcased tonight from 6 to 9:30 p.m. (EDT)
at the ShowStoppers media-only reception being held at the Millennium Hotel on
Times Square in New York City at 44th and Broadway.
    Toshiba's SCiB power technology will enable Tailwind owners to recharge
their eBike in 30 minutes through a standard electrical outlet (or as little
as five to seven minutes through a commercial charger). By comparison, it
takes four hours or longer to fully recharge the battery of virtually any
other eBike in use today through a standard electrical outlet, allowing riders
to recharge their Tailwind eBike in one-eighth (1/8th) the time of other
electric bikes.
    In addition, Tailwind owners can expect to see an industry leading
2,000 recharge lifecycles with the eBike versus the industry standard of
1,000 charges before needing to replace the battery. Tailwind riders will find
that they can ride 25 to 30 miles per charge (depending upon such factors as
temperature, rider weight and terrain). The Tailwind also comes with a
20,000-mile or two-year limited warranty.
    "We are very pleased to supply our first SCiB product to such a
well-known and respected company as Schwinn Bicycles and its parent company,
Dorel Industries," said Shoshi Kawatsu, General Manager, Super Charge Battery
Div. of Toshiba's Transmission Distribution & Industrial System Company.
"Schwinn is one of the most recognized bicycle brands in the world, and we are
happy to provide Tailwind owners with our innovative SCiB technology."

    The Growing Market for Electric Bikes

    According to the Electric Bikes Worldwide Report, 2008 Update,
20.8 million eBikes were sold worldwide in 2007, a total expected to show only
modest worldwide growth in 2009 to 21.6 million units. However, eBikes
represent the fastest-growing bicycle category within the U.S., Europe and a
number of other regions.
    For example, U.S. eBike sales are projected to hit 220,000 units in 2009,
a two-year increase of 83 percent from 2007 U.S. eBike sales of 120,000 units.
Projections for Europe are even more robust, with eBike sales in Europe
expected to hit 750,000 units in 2009 a three-fold increase versus 2007 sales
of 250,000 eBikes in Europe.
    Schwinn has six models currently available for purchase in its electric
bicycle line, with the Tailwind expected to arrive in dealer stores in early
2009. Each Schwinn electric bike is a so-called eBike hybrid and can be ridden
in either motor-assist mode or as a conventional bike. In addition, all
Schwinn eBike models (including the Tailwind) utilize a removable battery pack
built into stylishly designed rear bike rack systems, allowing riders to
detach the battery for recharging.
    "We believe the convergence of environmental concerns, economic factors
and proven health benefits are making everyday bike-riding a reality for more
and more Americans," said Bruno Maier, Executive Vice President and General
Manager of Cannondale Sports Group. "Industry research and our own data tell
us that electric bikes are a dramatically growing phenomenon within the U.S.,
and we intend to be a serious contender within the eBike category,
particularly in this country."
    "For this reason, we are honored to partner with Toshiba, a world leader
in battery and power technology. We are confident that deploying Toshiba's
breakthrough, fast-charging SCiB technology for the first time ever in our new
Tailwind eBike will thrust Schwinn to the forefront of the electric bike
marketplace," said Maier.
    With a suggested retail price of US$3,199.99, the Schwinn Tailwind will
arrive in dealer stores in early 2009 with four sizes for standard frames (S,
M, L, XL) and three sizes for step-thru frames (S, M, L). For more information
about the Tailwind, please visit www.electricschwinnbikes.com/tailwind/ or
www.schwinnelectricbikes.com for more information about Schwinn's other eBike
models.

    About Schwinn

    Founded in 1895, Schwinn is an American icon and has built some of the
best-known and best-loved bicycles of all time. Schwinn has been an
indispensable player in revolutionizing bicycling around the world. With a
continued dedication to quality, forever synonymous with the Schwinn name,
America's most famous bicycle brand looks forward to providing another century
of innovation, freedom and performance to people of all ages. Information
about Schwinn bicycles is available at www.SchwinnBike.com.

    About Dorel

    Dorel Industries Inc. (TSX: DII.B, DII.A) is a world class juvenile
products and bicycle company. Established in 1962, Dorel creates style and
excitement in equal measure to safety, quality and value. The Company's
lifestyle leadership position is pronounced in both its Juvenile and bicycle
categories with an array of trend-setting products. In the Juvenile segment,
Dorel's powerfully branded products such as Quinny, Maxi-Cosi, Safety 1st and
Bébé Confort have shown the way to safety, originality and fashion. Similarly,
its highly popular brands such as Cannondale, Schwinn, GT, Mongoose and SUGOI
have made Dorel a principal player with both independent bicycle dealers and
mass merchants. Dorel's Home Furnishings segment markets a wide assortment of
furniture products, both domestically produced and imported. The Company
exerts relentless innovation and marketing flair across all of its divisions.
Dorel is a $2 billion company with 4,600 employees, facilities in
17 countries, and sales worldwide.
    U.S. operations include Dorel Juvenile Group USA; the Cannondale Sports
Group; Pacific Cycle; Ameriwood Industries (which produces ready-to-assemble
furniture); Altra Furniture; and Cosco Home & Office. In Canada, Dorel
operates Dorel Distribution Canada and Dorel Home Products. Abroad, operations
include Dorel Europe and IGC in Australia, a manufacturer and distributor of
juvenile products. Dorel Asia sources and imports home furnishings products.
Dorel China has eight offices which oversee the sourcing, engineering and
logistics of the Company's Asian supplier chain.

    About Toshiba

    Toshiba is a world leader and innovator in pioneering high technology, a
diversified manufacturer and marketer of advanced electronic and electrical
products spanning information & communications equipment and systems; digital
consumer products; electronic devices and components; power systems, including
nuclear energy; industrial and social infrastructure systems; and home
appliances. Toshiba was founded in 1875, and today operates a global network
of more than 740 companies, with 198,000 employees worldwide and annual sales
surpassing US$76 billion. Visit Toshiba's web site at
www.toshiba.co.jp/index.htm. For more details on Toshiba's environmental
management, visit: http://www.toshiba.co.jp/env/en/index.htm. For Toshiba's
SCiB Battery, visit: http://www.scib.jp/e




For further information:

For further information: Media Contacts: Michael De Leon, Schwinn
Bicycles, (608) 268-8309(w), (608) 358-9412(c), mdeleon@cannondalegroup.com;
Rick Leckner, Dorel Industries, (514) 731-0000(w), rickl@maisonbrison.com

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