If you go by share of profit from bikes versus other sources I would not be surprised at all if they get more than trek or specialized. Trek/Bontrager and Specialized are notorious in the bike industry for requiring dealers to move accessories if they want to stock bikes. They make a TON of money of accessories at this point
Kia makes cheap cars using less than cutting edge technology, but that doesn't mean that they are any less of a car company than Mercedes.
Sure, they cater to the low end. But, their designs aren't off the shelf (or aliexpress), they have a network of showrooms and shops, and most importantly there primary business is the selling of bicycles.
One thing I've noticed is that pretty much every established bike company is placing the motor on the pedal crank, whereas Rad uses a much bigger (750w in my case) in-wheel hub motor. The acceleration with a hub motor is so much better and doesn't depend on what gear I'm in.
> The acceleration with a hub motor is so much better and doesn't depend on what gear I'm in.
I have a 750 watt radbike and I always find this a little bit bothersome in that I end up in situations where I feel like I'm being dragged forward when I don't want to be because my cadence got just a little bit too fast and the motor starts dumping power. I end up treating the pedal assist as another set of gearing to manage so it doesn't start giving me too much power when I am pedalling in a low gear. Higher end hub drives and pretty much all mid-drives solve this by using a torque sensor so the motor responds to the wattage you are putting down rather than the cadence.
Bikes are one of those things that are sort of figured out how to make (tho eBikes, less so). You can go to a trade show in east Asia, spec out exactly what you want a run of bikes to be, and they'll do all the hard work for you, and ship you a container full of "your" bikes. Many brands use the same bike manufacturer/factory. Shop for some of them on bikesdirect.com. Many of the "brand" names are just stickers - the companies may have existed as something decades ago, but now live as a name only.
Even a more established brand will send over the cad files of the frame to be built (usually the only really distinguishing thing in most bikes), then spec out the rest of the parts to be put on it. A few visits to the factory from a brand rep/engineer to get details right (welds, layups), then start pumping out orders.