Global e-bike sales expected to reach 130 million by 2023.
This decade is going to be defined by a revolution of battery-powered mobility, and the vehicle that will lead the charge won’t be an electric car and it definitely won’t be an electric scooter.
It will be an electric bike. Yes, you heard that right!
Deloitte says it expects 130 million e-bikes to be sold globally between 2020 and 2023. It also noted that the number of e-bikes on the roads will easily outpace other electric vehicles by the end of next year. (Source: Deloitte annual technology, media and telecommunication predictions)
We all know the benefits that e-bikes offer us. They allow us to cover longer distances than bicycles, avoid congestion in the city, a much cleaner environment than cars, and loads of fun to ride! Seems easy enough then to understand why governments all across the EU are offering subsidies for the purchase and usage of e-bikes.
The UK had a Cycle to Work scheme in place for a long time but this scheme had a 1000 pound cap to it, which meant most e-bikes were ineligible for these subsidies. Last year, this capping was abolished which meant all e-bikes would become eligible for the scheme, and this saw an upturn in e-bike sales in the UK!
We have noticed this trend taking shape all across Europe and by providing subsidies they have engineered its e-bike boom. Norway and Sweden are offering a whopping $1000–1200 incentive to buy an electric cargo bike! The Paris civic body offers a subsidy of 500 EUR for the purchase of an e-bike! Many other cities in France also offer subsidies of around 300 EUR for e-bikes. Germany, Belgium, Austria, and Italy are some other EU countries that trying to make the E-bike ownership dearer by offering reduction schemes in the range of 250–350 EUR for the purchase of e-bikes.
Apart from these subsidies, there are also tax exemptions for corporates who buy and promote the use of e-bikes for their employees. In Austria, If a corporation buys 10 e-bikes for its employees, it gets a 200 EUR subsidy per bike. Many cities in Germany also offer a 25% refund to corporates for the purchase of e-bikes for its employees! Now that’s a big commitment to push the usage of (Farrhad) as the Germans like to call it!
Outside of the EU, these subsidies are not very common but recent years have proven that governments all around the world are tirelessly pushing to promote sustainable modes of transport. In New Zealand, it is proposed that government employees would be eligible for a 50% discount towards the purchase of e-bikes! In India, the FAME scheme (Faster Adoption of Manufacturing of (Hybrid &) Electric Vehicles) offers a wide range of subsidies to manufacturers of EVs. Unfortunately, however, with the declaration of FAME-II, there have been some hindrances in applying for these subsidies.
It’s clear that electric bikes and bicycles are the most efficient way for everyday commuting and it’s great to see governments globally understanding their importance. The SUV trend is growing in the USA and people want to purchase a big blown SUV rather than an e-bike. Cycling for them has sadly been a leisure activity and they would not like to commute on e-bikes to work. It would be exciting to see bike-friendly cities like New York, San Francisco, Seattle, LA, among others to offer such subsidies for the promotion of sustainable modes of urban commute.
Though the e-bike community is nowhere near their counterpart, it’s growing swiftly. It wouldn’t be too long until the use of bicycles and e-bikes will soon catch up with the rest of the world as well.
