The ebike niche is growing exponentially -- the global ebike market is expected to grow from 26.5 billion USD in 2021 to just under 62.3 billion in 2030 – i.e. all in this decade.
We created Velotric to tackle the value segment of the ebike industry. Ebikes can run anywhere from $500 to over $10,000, with the majority of the players offering ebikes at the $1000 - $3000 price range, which is where we are targeting.
Our team's expertise in product engineering and industrial design means we were able to spot a unique opportunity in the segment.
First, a majority of the players in this segment use electrical components sourced from different manufacturers. The result is a drive system that doesn't run at optimal efficiency and power. Our team was uniquely positioned because we have the technical know-how to create our own drive system. The Velopower system runs at higher efficiency and power compared to competitors in the same segment.
Second, most established players in this segment are stronger in marketing than product. The result are bikes that just don't look that great -- because it requires industrial design and structural engineering experience to know how to actually create the 'seamless' design. Many budget ebikes create bike structures that are essentially a modified traditional bike -- a bike frame with additional welds to hold the electrical components (e.g. battery, controller). Our team was able to create an integrated design that better houses these components and looks more elegant and pleasing. We even borrowed design elements usually reserved for more premium ebikes like the seamless headtube design via LFT (liquid forging technology) and hand-polishing.
Our ambition is to create the best value ebikes for everyone who wants to incorporate a healthier, more joyful way of moving around in their lives-- for whichever scenario they may want to us an ebike for. To that end, we're aiming to release more ebikes for different use cases.
