In a New York Times article, Guidehouse Insights discusses the market outlook for e-bikes
As the pandemic continues, more people are seeking socially distanced ways to get around. Electric bikes, or e-bikes, are an alternative transportation method that is starting to become more mainstream.
In an article for The New York Times, Ryan Citron, senior research analyst at Guidehouse Insights, discussed the growing popularity of e-bikes and how the right business model and pricing can make them a more appealing choice for consumers.
“For years we’ve been saying that the market needs a decent, good-quality, relatively high-performing e-bike for $1,000 to $1,500,” Citron said. “That’s the sweet spot.”
Several companies have entered the e-bike market with prices ranging between $2,500 to $15,000 while other players, like Rad Power Bikes, are distinguishing themselves with a lower price point and a direct-to-consumer model.
According to a recent Guidehouse Insights report, annual US e-bike sales are expected to reach nearly a million by 2023, up from 650,000 this year.