How would you like to get out of traffic jams, have cheaper parking, and still get to work on time? Well, if you live in China, now you can! China is the world’s new automobile capital, estimated to sell more than 12 million cars this year. However, China also produces an electric bicycle called the e-bike.
The e-bike runs on a rechargeable battery that can be recharged over night, and won’t have to be replaced for one year. China is on a pathway to sell 20 million e-bikes. This is due to its popularity in Beijing and other big cities. Many commuters find cars to be very costly because of gas prices, parking fees, and traffic jams, compared to the e-bike. E-bikes are also substantially cheaper in the initial purchase price. Prices range from $220 to $370, and they call for far less maintenance too!
With the increase in popularity paired with the expected high production numbers of the e-bike, business should begin to boom. Retailers can add these inexpensive, efficient products to their inventory, and should find that their business grows. However, the sales of regular bicycles have drastically dropped. The China Bicycle Association, stated that in1988, a high of 40 million bikes were sold. Now, that number has fallen to roughly 20 million bikes sold locally in China.
For now, it sounds like an investment in an e-bike will pay off in more ways than one. Both consumers and business will benefit from this product. Even though the sales of regular bicycles are dropping, the e-bike is a great substitution.