Top 5 factors that increase the price of e-bikes
– The motor
One of the main factors that can cause an e-bike to be so expensive is the cost of the motor. The motor utilises energy from the battery to assist the user in cycling. Unlike a traditional bike where it is entirely powered by the user, which can keep costs down, the motor means that the cost of the bike goes up significantly. The motor often has to be specially crafted and fitted, which increases both the cost of labor as well as the costs of parts. These costs are passed along to the purchaser.
– The battery
The battery is one of the main reasons that the cost of an e-bike is higher than a traditional bicycle. The battery generally costs around $500, but sometimes this cost can rise to as much as $1000 if the battery needs to be specially made and fitted. The battery will generally always be a lithium-ion battery as they are reasonably efficient, which allows for a smaller battery. It’s important to keep the weight of the bike and its components minimised so that the e-bike is easier to cycle.
– They’re still relatively new
It wasn’t until the last couple of years that the popularity of e-bikes has increased. Previous to that, there wasn’t a huge demand and so there weren’t that many manufacturers producing them. This has resulted in the prices of e-bikes being so high for a couple of reasons. The first being that due to the low demand and few manufacturers, the companies that were producing them have a monopoly on the market. With less competition driving prices lower, manufacturers have been able to demand high prices.
– They need high-quality components
Not only do you have to account for the fact that the motor on your e-bike is going to make the bike more expensive than a traditional bicycle, but you also need to consider the fact that e-bikes also require higher quality parts and components all around. E-bikes travel at speeds greater than a normal bicycle and will likely be seeing a lot of use. You need to ensure that the e-bike has high-quality parts that won’t fail and is going to stand up to increased speeds and potentially greater impacts. These high-quality parts are going to increase the cost of your bike.
– They’re still a niche market
While e-bike sales are increasing steadily, they are still considered a niche market. This means that manufacturers are not able to produce parts and components in bulk, which drives up the cost of e-bikes considerably. Unlike traditional bicycle manufacturers, who can be reasonably sure that they are going to sell high quantities of bikes, e-bike sellers and manufacturers are still having to order and produce in lower quantities. Due to this, manufacturers are unable to reduce the cost of each bike. Until they become in high enough demand that manufacturers can produce them in large batches, the costs of e-bikes are likely to remain high.