The bicycle kingdom goes electric, and China’s biggest e-bike maker Yadea wants to make most of them
- Some new models will sell at five times more than current average price
- Company expects global e-bike demand to hit 100 million units annually in five years, with China accounting for half of it
The Hong Kong-listed company plans to unveil dozens of new electric bicycles in 2019, with some products priced at 10,000 yuan (US$1,455) that Dong believes affluent consumers around the world, with an affinity for two-wheeled vehicles, will be drawn to. An average e-bike sells at about 2,000 yuan.
“As the automotive industry undergoes a technological shift towards electrification, electric bicycles will also have a great opportunity to grow, spurred by people’s increasing awareness for environmental protection,” Dong said. “But we have to churn out some fancy products that hit a consumer nerve.”
Which is also why Yadea, based in Wuxi, Jiangsu province, is adamant in redefining e-bike as a fashionable tool that is more than a vehicle for transport.
The new models to be launched this year will incorporate the latest digital technologies to attract customers, but Dong would not disclose details.
China, once the world’s “bicycle kingdom” as the vast majority of the population used bicycles as a main transport tool, reported sales of about 32 million units in 2017, accounting for 60 per cent of the global total.