Bicycle Brands Are Electric About The Future

Electric bikes may not have the same juice as a Vespa, but major bike brands Schwinn, Trek, and Giant, are revving up to roll out new models. These next-generation e-bikes are a little more stylish, lighter, and charged. How cool is riding a bike with an electric sensor that knows when you need a push up a steep hill?

In ten years, the emerging e-bike market has grown from virtually nonexistent into an $11 billion global market, reports the NY Times. Roughly 80 percent of e-bike action resides in China, followed by Europe. Interest is spurring in India and the United States.

Eco-friendly Hero Electric, a division of India’s largest bicycle manufacture, now has seven e-bike models and expects sales to increase from 100,000 units sold in 2009 to 250,000 in 2012. An estimated 20,000 to 25,000 e-bikes were sold in the US last year, says bicycle industry consultant Jay Townley. Held back by the recession and unemployment, overall bike sales are down from 18 million units sold in 2008 to an estimated 12 million in 2009, he says.

But the future looks bright for bicycle brands.Continue reading...