Electric bicycles, the “New Darling” of European Travel

Before last year, electric bicycles were still an embarrassing existence in most European countries, and their annual sales in Europe were less than the annual sales of a single electric bicycle brand in China. So how did it become popular in Europe?

1. The epidemic has made electric bicycles a hot item

In Europe, the sudden outbreak of the new crown epidemic has made electric bicycles a mainstream transportation vehicle. Even after the pandemic, its boom in sales shows no sign of slowing down.

In March this year, the European Bicycle Organization released a set of data showing that the annual sales of electric bicycles in Europe are expected to surge from 3.7 million in 2019 to 17 million in 2030. As soon as 2024, annual sales of electric bicycles will reach 10 million.

2. A substantial increase in the infrastructure of electric bicycles

Many European cities have launched new bike-friendly programs, such as: Paris plans to expand bike lanes and add 180 kilometers of new bike lanes, and parking spaces will increase from 60,000 to 180,000; Berlin has approved 12 new bike lanes, which will be completely separated from other vehicles on the road. Regions are improving bicycle infrastructure by increasing the number of bicycle lanes and parking spaces, and expanding the bicycle city network to meet the increasing demand for electric bicycle riding, ensuring a safer riding environment and ensuring more bicycle capacity.

3. The stimulus of government preferential policies

Since the beginning of last year, governments across Europe have provided subsidies of hundreds to thousands of euros to consumers who buy electric bicycles. The average subsidy for an electric bike in France is 400 euros. When buying electric bicycles in Italy, you can enjoy a subsidy of up to 70% of the price of the vehicle. After the introduction of this policy, consumers' willingness to purchase electric bicycles has increased by a full 9 times. The Netherlands gives it a subsidy equivalent to 30% of the selling price. German electric bicycles can be subsidized up to 500 euros.

On December 7th, the Council of the European Union published a "modern" VAT directive, stating that the VAT rate on these subsidised products must be at least 5%. Member governments have now explicitly agreed to increase VAT incentives on the supply, rental and maintenance of bicycles and e-bikes. Previously, e-bikes were subject to at least a 15 percent VAT.

At present, the European electric bicycle market is developing rapidly, and electric bicycles are becoming a new trend of low-carbon travel. The continuous advancement of various favorable policies will also drive the bicycle industry in various places to usher in a new spring.

Post time: Jun-03-2019

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