E-bikes are becoming very popular all around the world. Due to the fuel crisis, many people found transportation trouble due to the limited fuel resources. However, as more and more people found them as an alternative solution that’s even better for their health, the popularity of electric bikes increased extensively. The only problem people have with electric bikes is the price. So why should you consider buying an E-bike? Why are they expensive? Will the price of them go down?
Therefore, in this article, we will be going through everything you know need to know about electric bikes. Remember to read until the end, so you don’t miss anything important.
Let’s start by having an idea about why you should also consider buying an electric bike.
Why should you buy an electric bike?
Due to several factors, like providing the same benefits as normal bikes and being a good alternative for the fuel crisis, the popularity of electric bikes has increased like never before.
The principle behind electric bikes is really simple. Unlike traditional bikes, electric bikes have a throttle that gives you a boost with its small motor, allowing you to go faster with less effort. Electric bikes come in handy when you ride tough and steep hills. Unlike on normal bikes, you don’t have to worry about muscle cramps when riding electric bikes. These bikes generally allow you to travel longer with a minimum effort without exhaustion.
If you are a person who wants to have an energetic body with less effort, you should consider buying an electric bike. And it’s cool too.
5 factors that make electric bikes expensive
Here are the 5 main factors that make the price of electric bikes so high.
The motor of electric bikes
The motor is one of the main factors that make the price of electric bikes expensive. Electric bikes use their motor to use the energy generated by their batteries to help the rider travel. In the normal traditional bikes, we have to give a lot of effort to ride. But, unlike traditional bikes, electric bikes make it easy to use by having a motor. Therefore the price of electric bikes significantly increases. Moreover, the motor of electric bikes has to be crafted and fitted by trained laborers, making both the cost of labor and the cost of electric bikes higher.
The battery of the electric bike
Electric bikes also come with a battery to assist the motor. It’s also one of the main reasons why electric bike prices are higher. In general, a normal battery costs around $500, but it can even vary up to $1000. The batteries also have to be specially designed and fitted, which increases the labor cost, making the price of batteries higher. Most electric bikes come with a lithium-ion battery. The reason is that lithium-ion batteries are smaller, and they are much more efficient. Therefore this is important to reduce the weight of the components of bikes.
Electric bikes are yet in their initial state
Even though electric bikes have been here for more than a decade, the popularity of them only skyrocketed in the past few years. So it’s obvious that it’s an initial couple of years after increasing the popularity of electric bikes. Back then, there wasn’t much demand for them as no companies had an interest in producing them. Moreover, only a few manufacturers produce electric bikes even now. As a result, the demand for electric bikes is higher, while the supply is low. It’s another reason causing the price of these bikes to be expensive.
Requires several quality components to produce
Not just the motor and battery required to produce the electric bike. Manufacturers must ensure that every bike part is safer and can withstand high speed and higher impacts. Therefore they should use high-quality components to produce these bikes. Accordingly, this high-quality component also causes to increase in the price of electric bikes.
Electric bikes are yet a niche market.
Even though the demand for electric bikes is increasing rapidly, as mentioned above, they are in the initial launch stage. Accordingly, many manufacturers can’t buy all the components required to produce them in bulk. Making it a niche market. Let’s compare the traditional bikemakers who have higher than selling bikes. Electric bike manufacturers have to produce fewer bikes, as there is no guarantee whether they will sell or not.
The lower components they order, the manufacturers cannot buy in bulk, which makes them unable to reduce the initial cost of producing a bike. Therefore, until it gets high demand on the market, which the manufacturers can produce in bulk, the price of electric bikes will be higher.
Some factors to consider when buying an electric bikes
You may think that after you pay the bike’s price, it’s over for you. But no, it’s not like that. Just like any other equipment, electric bikes also have to be maintained. The costs for maintenance can be smaller or higher depending on the type of problem you get.
Here are some other costs you will have to consider if you are planning to buy an electric bike.
- The cost to charge your battery – Charing your battery is not a big deal as it’s inexpensive. However, if you are planning to use your electric bike regularly, you should also consider the price that will cost you to charge your battery.
- The cost to replace your battery – Most e-bikes last from 500 to 1000 charges depending on the quality of the bike you buy. However, you should also add these to your maintenance cost, which will cost from $ 400 to $1000 to replace your battery.
- The cost for maintenance – Just like any other traditional bike, you have to consider the maintenance costs too. The older your bike gets, the more you will maintain it regularly. However, these replacements can be done at any bike shop near you.
The market competition for electric bikes
Competition for electric bike manufacturers also plays an important role in affecting the price of electric bikes. There are a lot of Chinese models that offer electric bikes for lower prices. But considering their quality, Chinese electric bikes are not a good fit for someone looking for a quality electric bike that lasts for a longer period. Even though they have many clients, their products do not last long and come with multiple problems when you start using them.
Moreover, the Chinese manufacturers have also made many western manufacturers lower their prices. This is due to a large number of people buying Chinese electric bikes. However, most E-bikers always avoid Chinese brands because of their bad reputation for producing low-quality bikes. That’s another reason you cannot keep your trust in many Chinese manufacturers.
Affordable options for people who want to buy an electric bike
There aren’t many cheap electric bikes. You get a bike according to the price you pay. If you pay a higher price, you will get a quality bike; if you pay a lower price, you will get a bike with features relevant to the price you pay.
So here is a good electric bike if you are looking for an e-bike for a low cost.
Pedego Electic Pre-Loved Bikes
Pedego is one of the oldest companies that have been manufacturing electric bikes. They have made electric bikes for almost 12 years, since 2008. Moreover, their 12 years of experience conclude that they do know what they’re doing.
The Pedego company is also the largest electric bike manufacturer, with customers worldwide. The company was built due to the poor electric bikes manufactured in the market in the old days. As they thought they could make better and more efficient bikes than the available bikes, Pedego was born. It’s also another reason they have various affordable electric bikes.
Even though the price of Pedego bikes is much higher than the traditional bikes in the market, they offer a model called “Pre-Loved” electric bikes. These bikes are for people looking for an affordable option. The model costs around $ 1800, while it is a high-quality option available for the least price on the market.
Do you doubt if Pedege Pre-Loved electric bikes are good enough?
Of course, they are. Just because these bikes are pre-owned doesn’t mean they have low quality. A complete step-by-step process is followed for a pre-owned bike to be considered a pre-loved one. The following are the relevant assessments a preowned Pedego needs to pass to be certified as a pre-loved electric bike.
The Preowned Pedego has to pass an 18-point inspection first.
The first step of choosing a pre-owned Pedego to be considered a Pedego Pre-loved is done by an 18-point inspection. In this process, a Pedego technician will thoroughly look for all the components like brakes, batter, throttle, moto, and other parts whether they are working correctly. Moreover, they will inspect for any previous damage.
The Preowned Pedego has undergone a tuneup.
As with another car or a lawnmower, the Pedego electric bikes also undergo a tuneup before displaying them on the market as pre-loved Pedegos. The Pedego technicians will fully tune up the bike, making its wheels, brakes, gears, and drivetrains functionally 100% perfect.
These are the two steps that a Pedego bike should pass to consider it has a pre-loved Pedego bike. Once a bike passes these two steps, it’s certified as a Pedego Pre-Loved electric bike.
And finally, once a bike is certified, the bike should also provide a peaceful mind to its buyers
Pedego doesn’t forget to care about its customers regardless of the type of bike they buy. Whether their customers buy a brand new Pedego or a used Pedegeo, they provide a 12-month warranty for all their electric bikes. This 12 months warranty allows you to have a peaceful mind, so you don’t have to worry if it starts to function badly. The Pedego company always has your back.
What will happen to the features of bikes in the future
As we now have a complete understanding of multiple aspects of electric bikes, let’s now have an idea of what will happen to the prices of e-bikes in the future. In this section, you will gain an overall view of the future of evil and their future. Over the past few years, E-bike manufacturers have extensively upgraded their features. E-bikes these days and the old days have a lot of differences between them.
In the old days, e-bikes had a large-sized battery hanging outside the bike frame. The size of batteries these days is incredibly small compared to previous ones. Moreover, bikes’ new features are constantly added to increase their efficiency. Accordingly, we can expect the features of bikes will get increasingly and more in the future.
Moving on to the main question of this blog post: ‘ will E-bikes have a chance of becoming cheaper in the future?
What will happen to the price of e-bikes in the future?
Considering all the above facts, we can expect the price of electric bikes to come down if the primary components of electric bikes, like batteries and motors, continue to depend on materials like cobalt and lithium. Electric bikes will reduce in price if the components required to produce them become cheaper.
However, do not expect the price of electric bikes to become cheaper in a few months or a few years. Electric bikes are in their early space, so many new technologies that will reduce the cost of production will grow in the upcoming years.
Electric bikes help us to increase the efficiency of travel. It also reduces environmental damage without making us exhausted. Several factors affect the price of electric bikes to be higher. In general, batteries and motors are some main examples of it. Other than that, electric bikes are becoming a less niche market; in the long run, electric bike manufacturers will have the opportunity to order components in large bulks, which will help to reduce the cost of production, lowering the price of electric bikes.
Electric bikes will have several new technologies in the future. However, if the production cost of the components required to make them gets cheaper, the price of electric bikes will also reduce. Moreover, if the manufacturers find new technologies that can reduce production costs, it can also affect the lowering of electric bike prices. However, we cannot expect the price to reduce in a few months or years.
Do you think electric bikes will get cheaper in the future?