Between a pandemic-fueled bike boom and growing interest in electric transport options, demand for electric bicycles, or e-bikes, has been picking up speed.
“Let’s face it — everything electric is just hot, whether it be cars, now planes, trains,” Don DiCostanzo, CEO and founder of Pedego Electric Bikes, said on Yahoo Finance Live (video above). “Electric bikes are probably the fastest-growing segment of any of these categories because they’re affordable for everybody.”
The electric bicycle category, like bicycles overall, saw sales increase during the pandemic as people sought outdoor, socially distant activities. Year-over-year bicycle sales in the U.S. ending April 2021 were up 57%, according to NPD, and while bicycle sales declined in April — a potential sign that the bike boom is slowing— e-bikes were the exception and saw continued sales growth.
DiConstanzo attributed that growth to e-bikes being “a perfect way” for people to get outdoors, thanks to the electric motor and battery that assists cyclists with pedaling.
“You don’t have to sweat,” he said. “You can do as much exercise as you want or none at all, depending on what you want to do. … And the four-letter word that keeps most people from cycling, which is hill, it goes away because it’s actually more fun to ride one of our bikes up a hill than it is down a hill.”
ya know what else electric that is even hotter? electric chairs! wish all these idiots would sit down in one and try it out!
Get woke go broke..how much industry will this product support? Factories? insurance? industry? Less more coal nuc plants for electricity?
I guess helmets production would increase for the tards to wear?
Scooter program in salisbury is a gold mine??(Sarc off)
This surge will also cause a huge boost in spray paint sales.