As e-bikes become increasingly popular, many people have begun to see their usefulness. Not only are they a fantastic way to get around, but they’re also a lot of fun to ride. However, if you have been considering buying an e-bike, you have probably noticed how expensive they are. So, what makes their price tag so high? Why are e-bikes so expensive? Take a look at the top 5 reasons e-bikes have a hefty price tag.
Why get an electric bike?
Electric bikes have skyrocketed in popularity for a variety of reasons. E-bikes offer the same benefits as traditional pedal-powered bikes, but with a few important additions. E-bikes are bikes that come with battery-powered assistance when you pedal. Basically, when you start pedalling or when you turn the throttle, a small motor will engage which will assist you and give you a boost. This is fantastic for getting up those tough, steep hills. It’s also a great way to prevent overuse of your muscles if you regularly bike around town or bike to and from work. They allow you to bike more frequently and ride farther before becoming exhausted and generally are a fantastic way of getting around town efficiently.
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 labour 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.
Other ongoing costs to consider
As well as the initial investment or purchase price of your e-bike, there are a few other ongoing costs you will need to be aware of. These costs can range from small one-offs to larger continuing costs that are important to factor into your budget. These can include:
- Charging the battery – Charging your battery is fairly inexpensive, however, it is an ongoing cost to take into account, especially if you are planning on using your bike regularly.
- Battery replacement – E-bike batteries are designed to last from 500 charges through to 1000 charges on certain batteries. The cost of replacing your battery can range from $500 to $1000 for specialised batteries.
- Maintenance – As with any bike, you will need to keep up regular maintenance of your bike as it ages. Luckily, replacements can often be done at any bike shop.
Are e-bike prices likely to go down?
As e-bikes become more popular and demand for them increases, there is a good chance that the prices will decrease. With increased demand, there should be more competition and the ability to bulk produce or manufacture e-bikes. This can help to significantly lower the cost of an e-bike as more people realise their usefulness. While it is still relatively new technology, there is a good chance that they will become cheaper as they’re produced in higher volumes and the technology becomes more widespread.
If you need help choosing the right e-bike for you, or you have questions you need help answering, why not give the Sunmono team a call? Our team of specialists can help you choose an environmentally friendly option that won’t cost the world.