What Is An E-Bike?

An e-bike is a bicycle with an integrated electric motor, which allows the rider to ride longer distances and at greater speeds with less effort. E-bikes are powered by rechargeable high grade lithium batteries. The Company’s e-bike fleet will consist of “pedal-assist” bikes, which give riders a boost only when the rider is pedaling. When a rider climbs a hill, he or she pedals with more force, and the bike funnels in power to let the rider climb the hill with ease.

There is a rapidly growing market for e-bikes in the U.S. In 2017, approximately 266,000 e-bikes were sold in the U.S., an increase of 62% from 2016. This still represents less than 2% of the 15 million bikes that were sold in the U.S. in 2017. In comparison, e-bikes constituted over 10% of total e-bike sales in Europe during the same period. These numbers pale in comparison to the 35 million e-bikes that were sold in the Asia-Pacific region.

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