electrical bike Electrical bicycle and e-motorcycle gross sales are positively exploding this yr
Whereas the COVID-19 pandemic decimated elements of the worldwide financial system, it additionally created distinctive financial drivers in others. One of many “winners” within the new world we stay in has been electrical two-wheelers like e-bikes and e-motorcycles, which commuters have turned to in enormous numbers.
Most electrical bicycle and electrical bike corporations are pretty tight-lipped about their gross sales numbers.
However with the large demand spawned by shoppers switching to two-wheeled EVs these days, a number of main producers have opened up their books and revealed simply how a lot they’ve grown over the previous yr.
Major Italian electric motorcycle manufacturer Energica not too long ago shared that the primary 8 months of 2020 have seen an order quantity of over 200% of its whole 2019 gross sales, with over €4.3M in income thus far this yr.
That places Energica at the moment on monitor to triple its 2019 gross sales by the tip of this yr.
Again stateside, the most important electrical bicycle producer within the US, Rad Power Bikes, can be on monitor to greater than triple its 2019 gross sales this yr.
That places Rad Energy Bikes at a projected $250M in income for 2020, little doubt buoyed by profitable launches of budget-minded e-bikes just like the $1,199 RadRunner and $999 RadMission electrical bikes, along with their longtime favorites such because the $1,499 RadRover electric fat tire bike.
A significant driving power behind this steep spike in gross sales has been the shift in the direction of private electrical mobility pushed by commuters looking for to keep away from crowded public transportation. And Rad Energy Bikes’ CEO Mike Radenbaugh not too long ago defined to NPR that he doesn’t see this as a short lived spike, however somewhat as the brand new regular:
“We predict a swap was flipped and light-weight has been shed on e-bikes as a software for the lots. So now it’s not nearly maintaining with this demand that has spiked after COVID-19 from individuals working from dwelling, procuring from dwelling, searching for socially distant methods to get round, however this can be a swap that was flipped on and it’s not turning off for years to come back, and so the work we’re doing now could be all about planning for future demand. It’s not about planning for subsequent summer season’s orders, it’s about planning for orders 10 years from now.”
In truth, Rad Energy Bikes has grown so massive that Mike estimates the corporate’s US market share at a whopping 25%, with the opposite 75% unfold throughout at the least 100 different corporations. Or to place it one other means, everybody else is merely combating for second place.
However Rad Energy Bikes isn’t the one e-bike firm exhibiting spectacular progress. Lectric E-Bikes doesn’t have the various years of operations to construct on like Rad Energy Bikes, however the electrical bicycle startup has nonetheless proven explosive progress after starting gross sales final summer season.
In just greater than a yr, the success of the corporate’s $899 Lectric XP e-bike has rocketed the producer from a garage startup to around $25M in revenue, making them a serious participant within the electrical bicycle business.
Lectric E-Bikes even not too long ago unveiled their second $899 e-bike model in barely a year, additional demonstrating how rapidly the corporate has grown.
And these are simply the producers which have agreed to share their gross sales figures with us. Contemplating the tons of of corporations all vying for a chunk of the pie, the precise progress of the business is difficult to definitively quantify. However any which means you slice it, the development is obvious: electrical two-wheeler adoption is rising quickly and exhibits no indicators of slowing anytime quickly.
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