Electric bicycles – The world’s new ‘gold mine’, US sales increased nearly 400% since 2019. Electric bicycles are considered a more attractive market than electric cars, expected to reach nearly 120 million. billion USD by 2030. According to InsideEVs, electric bicycles are quickly reshaping the way people get around the world. This trend is most evident in Asia and Europe, where more and more people are choosing to leave their cars in the garage and instead commute by electric bicycle.
The technology that goes into an e-bike today has advanced significantly compared to a decade ago, and it seems like the industry’s pace of development shows no signs of slowing down.
A report published by Fortune Business Insights highlights the huge potential of the electric bicycle market, which is valued at 37.47 billion USD by 2022. As of 2023, this market has been valued at 43.32 billion USD USD and is predicted to skyrocket to USD 119.72 billion by 2030, a compound annual growth rate (CAGR) of 15.6% during the forecast period. With rapid growth, this industry may reach the above milestone sooner than expected.
While e-bike usage is actually most popular in Europe and Asia, the growth of this segment in the US market cannot be ignored.
There are currently some pretty attractive incentives for electric car buyers, but the same is virtually non-existent for bicycles. All this could be about to change, as Business Insider reports that the Electric Bicycle Environmental Incentive (E-BIKE) Act has been introduced in early 2023.
According to the proposal, consumers can receive up to 30% discount (up to $1,500) when purchasing a new e-bike. This law not only aims to make e-bikes more accessible, but also encourages local governments to invest in bicycle-friendly infrastructure.
With positive signals about sales and user acceptance, the VinFast brand has also urgently deployed and introduced the latest electric bicycle model to American consumers.
Previously, VinFast participated in displaying products at CES 2024, one of the largest technology exhibitions on the planet, held at the Las Vegas Convention Center. Here, VinFast launched the DrgnFly electric bicycle model, 1 year after the concept car was displayed at CES 2023.
This car model was displayed in VinFast’s green car ecosystem exhibition in Vietnam with technical specifications: Dimensions length x width x height of the car are 1,695 x 690 x 1,040 mm, seat height 760 mm.
Lithium-ion battery located on the frame, removable to change batteries. Full charge time is 378 minutes, or more than 6 hours. The engine is located in the rear wheel, meeting a maximum speed of 32 km/h (US market) and 25 km/h (European market). Maximum speed is limited by software, which can be unlocked to increase. The vehicle is sold with a 150 W charger. The vehicle has two operating modes, including pedal assist or fully electric, a 1-speed gearbox and a torque sensor feature.
According to Carscoops, customers will be pleased to know that DrgnFly integrates 4G connectivity and mobile applications, including remote unlocking/locking functions, vehicle positioning, trip storage and support for software updates via network. These features according to The Autopian are “an attractive benefit” because bike theft is already a problem and being able to lock a stolen e-bike and locate it can help. Getting your car back is easier.
“It would be great if this model was soon available in showrooms, because this is a fashionable electric bicycle, suitable for daily work or urban delivery needs,” The Autopian added.
With the unique DrgnFly electric bicycles, the electric vehicle company from Vietnam has perfected its rich and comprehensive electric vehicle ecosystem – something that very few vehicle companies in the world can do in a short time. .
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