Are Ebikes Powering the Future of the Electric Vehicle Revolution?
The future EV Revolution is already here, and it could all be thanks to the Ebike. As one of the most exciting trends in modern technology, the electric bicycle is not only one of the fastest-growing segments of the global bicycle market, the ebike is outpacing the sale of all other electric vehicles combined. Yes, EV's are coming to a neighborhood near you. So when you see one, don’t just stare – take advantage of their benefits and find out if an ebike is right for you.
What's cooler than sitting in the cockpit of an EV?
There's no denying that electric cars, electric motorcycles, and electric bicycles are fun. You can cruise down the highway at speeds up to 80 mph, and because they're so quiet, you'll never hear them coming. Your electric motorcycle will communicate with you via haptic signaling, providing an almost omniscient real-time picture of impending obstacles or dangers. You can even travel an iconic cross-country rail-trail, connecting to many places of learning, history and culture.
And, if you're one of the few people who still hasn't ridden an ebike, just ask your neighbor how much fun they're having the next time you see them effortlessly climb that hill at the end of your street.
We've seen tremendous growth in the EV world, what's next?
Innovations in electric vehicle charging continues to attract new investment. From Smart EV charging and self-healing algorithms to racked and stacked battery management systems, there's a continuous and growing stream of new EV industry patent filings. And keep an eye on wireless charging, lamp post charging and even electrified roads. Rad Power Bikes just released their latest model - the RadTrike, further blurring the lines of Electric Vehicle options.
Regulations and Incentives will change. As EVs become more popular, governments will need to decide how to regulate them. Currently, there are no federal regulations governing the sale of EVs. But with the passing of The Inflation Reduction Act of 2022 (Public Law 117-169), EV incentives and Tax Credits for individuals range from $2,500 up to $7,500. And in 2023, tax credits for the purchase of new EVs and FCEVs will be available to businesses at a maximum of $40,000. While some ebike owners are still waiting on the elusive ebike federal tax credit, some states are already offering tax credits and incentives. States have different rules, so check with your state government before buying an EV.
EVs will become more affordable. We're already seeing a variety of more affordable electric cars. According to Kelley Blue Book, the average electric car price in the US is around $66,000 compared to the broader car market of around $48,000. Tesla's Model 3 is currently available for around $47,000. Electric motorcycles should get cheaper as they become more mainstream. For now, they are still expensive because of low production numbers and the development of new technology.
But, thanks to their popularity and vibrant competition in the market, the ebike industry has already seen a dramatic spike in Black Friday Sales in 2022, with the average cost of a quality electric bicycle still under $2,000.
EV's are getting better every day, what's the downside?
As one of the biggest challenges facing electric vehicles today, Battery technology must continue to improve. They need to store enough energy to power an entire car for hundreds of miles without recharging. While we're all seeing that batteries are getting smaller and lighter, there's a growing concern about their price tag. According to the International Energy Agency (IEA), the cost of lithium ion batteries dropped by nearly 50 percent between 2010 and 2015. But the price of lithium has increased fivefold since mid-2021.
And who is dominating the electric vehicle battery chain? Despite the United States having over 3 percent of the world’s reserves, it has only one producing lithium mine with production at a modest 5,000 tons a year — less than 2 percent of the world’s annual supply.
While lithium ion batteries are currently the best option, researchers are looking at other options such as flow batteries, supercapacitors and even flux capacitors.
Should You Already Own an Ebike?
While we still don't have our often-promised flying cars, we may have the next best thing! Whether you ride ebikes for recreation, socially, for exercise or as your primary means of local transportation, ebikes are changing everything. From our cities and neighborhoods to our farms and workplaces, to our campgrounds and hunting grounds.
To our entire lifestyles. Riding an ebike has become more popular than ever before. In fact, Edward Benjamin of the Light Electric Vehicle Association predicts that more than 1 million e-bikes will be sold in the U.S. this year. And, according to the International Bicycle Federation (IBF), there were nearly 1 billion ebikes sold worldwide in 2017 alone. With technology becoming affordable enough to be accessible to the masses, the electric vehicle revolution that had been gaining momentum since the early 2000s, has finally arrived. So, get on your EV and ride.