For years an explosion of e-bikes on our streets has been predicted. That day could be near with news that Giant will sell 600,000 this year.
The company has just announced a new factory in Hungary aimed at meeting the steeling demand in Europe.
In 2018 Giant shipped about 385,000 e-bikes, close to double the number recorded a year earlier. Now the company has reported that it sold 290,000 electric bikes in the first half of this year and aims to sell more than 310,000 units in the second half of 2019.
That is 56 percent growth compared to 2018. The company a year earlier had only predicted 30 percent.
The growth has spurred the firm to invest A$77M in the new Hungary plant. Initial production capacity is planned to be around 300,000 units, including standard bicycles.
For much of the industry, this growth is welcome as sales of standard bikes are showing signs of decline.
The growth potential is drawing other players into the market, with Yamaha just launching an electric assist gravel e-bike—the Wabash.
Interestingly, the gravel bike category is one segment of the standard bicycle market where growth is as trying as e-bikes.
The frame includes hidden rack mounts to integrate with Yamaha’s rack and fender lines, which suggest similarities to it commuter-bike.
Yamaha has invested heavily in sophisticated electronics and battery management for its own in-house power train system.