Year in Review: 2021 Was a Great Year for E-Bikes
2021 was an interesting year. In some respects, it was extremely challenging. In other respects, it was a time of advancement, growth and innovation. One of the fields that enjoyed a “glow up” during 2021 was electric bikes. This industry has been on the upward swing for many years, but last year was especially positive.
Investments in Electric Bikes
In 2021, many up-and-coming electric bike companies were able to raise tens or even hundreds of millions of dollars for their initiatives. Some of these investments came from private capital sources that had identified the industry as a worthwhile opportunity. Other investments came in the form of grants and loans from governments that wanted to boost the development of electric bikes.
Almost every month during 2021 saw at least one significant investment round for an e-bike business. When an industrial sector is getting that much attention, it spells great news for every business involved with it.
Tax Incentives and Other Initiatives
Additionally, many governments took steps to encourage the use of electric bikes through tax incentives and other legal initiatives. Notably, the EBIKE Act was added as part of the Build Back Better agenda in the U.S. Although this legislation may be in jeopardy, it is still a great sign that legislators are interested in promoting the use of electric bikes.
The U.K. government established a fund for cargo e-bikes to help support investments in that area. This is viewed as a particularly interesting subset of the e-bike industry because it has some substantial potential impacts for the environment. The E.U. recategorized electric bikes to help make them more favorable under VAT tax rules.
There were numerous other initiatives in other governments as well. Overall, 2021 was a great year for electric bikes from a legal perspective. All signs point to increasing interest in these amazing vehicles.
The year was also promising from the perspective of new inventions. While the core electric bike design has remained the same for several years, some innovators created new applications and unique twists on electric bikes during 2021. For example, one company began selling relatively inexpensive three-person bikes on Alibaba. While these may not be as premium as some other offerings, they provide a great option for transportation.
There was also some innovation in the drivetrain. BMW released a concept bike with a large battery offering 300 kilometers of range. Schaeffler revealed a bike based entirely on a “ride-by-wire” drivetrain. In other words, there are no chains or belts needed. This could present a great opportunity for further innovations in terms of what an electric bike can be and what it can achieve.
Join in the Electric Bike Fun
Do you want to get involved with this thriving field? E-Lux Electric Bike has a huge selection of premium e-bikes for you to choose from. Whether you want something for commuting or something for gently cruising around town, we have a bike that can suit your needs. Plus, you can try a bike risk-free using either our 14-day trial period or an on-site test ride.