Electrical bicycle gross sales have been growing world wide for years, with the US seeing notably drastic 12 months over 12 months development. However by no means earlier than have we witnessed the type of colossal development spawned by the COVID-19 pandemic. And in accordance with business leaders, there’s no signal of it slowing down.
When the pandemic first hit exhausting within the US round 18 months in the past, most within the business assumed it will be tough waters forward.
The reality turned out to be the precise reverse, at the least when it comes to gross sales. The numbers completely soared as electrical bicycles flew off the cabinets throughout the nation and world wide.
In fact it wasn’t all clean crusing. New issues emerged within the business as a result of fast development. However the excessive gross sales figures have continued and there’s no expectation of returning to decrease pre-pandemic gross sales ranges.
As electrical bicycle firm Pedego’s CEO Don DiCostanzo defined to Yahoo Finance:
“Let’s face it — every thing electrical is simply scorching, whether or not or not it’s vehicles, now planes, trains. Electrical bikes are most likely the fastest-growing section of any of those classes as a result of they’re reasonably priced for everyone.”
With so many fashions of electrical bicycles obtainable throughout the board, a lot of which fall in the important thing sub-$1,000 class, Individuals have been scooping up e-bikes in droves.
Pedego even rolled out its lowest-priced electrical bike so far in the course of the pandemic (see my evaluation video under). That helped the corporate attain a brand new demographic of riders and compete extra straight with business leaders like Rad Energy Bikes who at the moment dominates the $1,000-$2,000 class.
Many well-liked electrical bikes nonetheless value north of two grand, with some priced significantly increased.
A brand new invoice launched within the US Home of Representatives and a companion invoice within the US Senate are at the moment looking for to assist Individuals decrease these costs with an e-bike tax credit score just like the electrical automobile tax credit score.
The plan would create a 30% rebate in the direction of the acquisition of a brand new electrical bicycle within the US. There are nonetheless a couple of limitations, reminiscent of capping the rebate at $1,500 and the qualifying value of the e-bike at $8,000. But when the laws passes, it might open the door to a second bigger wave of electrical bicycle gross sales within the US.
That couldn’t come sooner for a lot of commuters, who at the moment are weighing their choices for socially distant commuting between non-public vehicles which can be costly and time-consuming for commutes, or crowded public transportation.
Electrical bicycles have confirmed to be a wonderful different for a lot of of those commuters by offering a less expensive, quicker and more healthy different type of transportation.
And if the final 18 months are any indication, many extra commuters are prone to uncover these advantages quickly because the modal shift we’re seeing continues to vary city and suburban transportation earlier than our eyes.
Subscribe to Electrek on YouTube for unique movies and subscribe to the podcast.