Today’s Solutions: February 23, 2024

High gas prices are driving some commuters away from the pump and toward alternative means of transportation. Some might consider using public transportation or even buying an electric vehicle, as this offers more than a few energy solutions. There are many that are even turning to electric bikes. 

An e-bike boom

Electric bike brands and vendors are experiencing a significant rise in sales. The electric bike brand Pedego has been setting a new sales record every month. Pedego CEO Don DiCostanzo says there are an unusually high number of calls coming through, a large number of sales way ahead of the season, causing some Pedego locations to stay open at a time when they would usually temporarily close due to a lack of business. 

“I’m not going to tell you it’s all because of fuel,” DiCostanzo told Bloomberg CityLab. “But I absolutely believe it’s acting as a catalyst to get more people to consider alternate forms of transportation.” Pandemic restrictions have eased up, and many are returning to the office, which might explain the spike in e-bike sales.

The spike could also be explained by a growing concern over carbon emissions. E-bike manufacturers and vendors, though, widely attribute the increased business to the rise in gas prices. Dollars and cents often have the final say in societal changes, which in this case is a good thing.  “I spend most of my day chatting with people that are either importers, brand managers, or retailers of electric bikes,” says Ed Benjamin, founder and chairman of the Light Electric Vehicle Association. “And they’re already telling me that people are coming in and asking about and buying electric bikes as personal transportation.” 

Sales are already exceeding the increased records of e-bike purchases during the Pandemic. The increase in business may elevate the e-bike industry even further and create more traffic-free and emissions-free cities. 

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