These 8 E-bike Brands have Become the "New Favorites" on the Streets of Europe and America

Automotive Author: Contributor, Jiahui Liao Editor: Yiru Qian Apr 24, 2024 08:33 PM (GMT+8)

E-bikes are highly favored by foreigners.

Bicycle / cycling

The E-bike (Electric Bicycle), in simpler terms, is a type of bicycle that can rely on electric power to assist in cycling, combining human and electric power output. Fueled by the promotion of green travel concepts, E-bikes are ubiquitous on the streets of Europe and America, sweeping across all age groups, from the elderly to professional cyclists, all enamored by this new bicycle product.

According to data from MarketsandMarkets, as of 2022, the global market size of E-bikes has reached USD 49.7 billion, with a total shipment of 51.25 million units, and is expected to grow rapidly at a compound annual growth rate of 10.2%, reaching a scale of USD 80.6 billion by 2027. In addition, several international research institutions have forecast a compound annual growth rate of over 10% for the E-bike market in the coming years, surpassing the overall expected growth level of the global bicycle industry. The global electric bicycle market demonstrates tremendous potential and room for growth.

Such a vast market naturally attracts numerous companies. Apart from some emerging international electric-assist bicycle brands, some traditional bicycle brands have also begun to introduce E-bike products, and even some internet companies, luxury car brands, and traditional manufacturing enterprises have joined the fray.

At the end of 2021, Xiaomi entered the field through an ecosystem model by investing in the new electric travel company "Suzhou Tantu." In April 2022, Midea announced the acquisition of a 55% stake in Wuhan Tianteng Power, officially entering the field of two-wheeled electric vehicles. Recently, automobile brands such as Audi, Lamborghini, BMW, and Porsche have launched different models of electric bicycles. Led by Tencent, Alibaba, and other internet companies, an increasing number of domestic enterprises are beginning to focus on the field of E-bike.

In China, due to the existence of shared bicycles and electric vehicles, the E-bike market does not have a large incremental market. However, Chinese players are sure not to overlook such a rapidly growing hundred-billion-dollar market. Furthermore, with existing supply chain advantages and technological reserves in China, entering the overseas E-bike market is not difficult. Therefore, many Chinese brands have joined this international race, and some have already begun to make a mark.


Founded in 2013, Aventon is a prominent American brand in the electric-assist bicycle industry. Its founder, Jason Chiang, was born in Yongkang, Zhejiang, a significant town in the Chinese bicycle industry, and later pursued studies in the United States. His formative experiences influenced his entrepreneurial path, leading him to venture into the bicycle industry and establish Aventon. In 2017, Aventon transitioned from traditional bicycles to E-bikes, with electric-assist bicycles becoming its primary product line.

Despite having its supply chain rooted in China, Aventon's entire operational team is based in the United States. Throughout the brand's growth, it has sought to localize its operations in both China and the United States, aiming to integrate the entire industry chain. Aventon's shipment volume reached 50,000 units in 2020, doubling to 100,000 units in 2021, generating revenues of approximately USD 100-200 million, equivalent to around CNY 2 billion. This volume was sustained at 100,000 units in 2023. In 2022, Aventon secured two rounds of financing, totaling tens of millions of dollars, leading to the company's valuation reaching USD 590 million. Additionally, Aventon prioritizes its social media operations, with its independent website receiving over 1.7 million visits in the past three months, surpassing the American giant Rad Power Bikes, which received 1.5 million visits.



DYU, established in 2016 and headquartered in Shenzhen, has set up its research and operations service center in Europe. As one of the earliest Chinese enterprises to seize the E-bike opportunity, in 2017, DYU entered the overseas market with a differentiated design strategy, achieving a shipment volume of 18,000 units that year. The following year, it became the first Chinese E-bike enterprise to enter the Costco channel. Over the subsequent years, its revenue maintained a doubling growth rate.

Focusing on the travel needs of European and American users, DYU has successfully developed multiple E-bike product lines covering folding, urban, mountain, and fat tire categories, obtaining over a hundred global patents. It has become a long-term premium supply partner for retailers such as Costco, Sam's Club, and Best Buy, with cumulative sales exceeding 1.5 million units. Leveraging a model driven by a team of German designers and the Chinese supply chain, DYU has surged in overseas markets, continuously reaching new highs in shipment volumes, firmly maintaining a top position in the industry. In 2020, sales exceeded 150,000 units, making it the first Chinese E-bike enterprise to export over 100,000 units. In 2023, DYU's annual shipment volume doubled once again, reaching nearly 500,000 units.



EUNORAU, a brand under Hangzhou BTN Ebike Technology Co., Ltd., specializes in the research, development, and manufacturing of lithium battery electric-assist bicycles. The company is a technology-driven enterprise that integrates development, production, sales, and service, exhibiting an annual growth rate of 50%. Its products are widely exported and highly reputed in both domestic and international markets. With subsidiaries established in the United States, Australia, and Europe, the company has expanded its global market presence, having served over nearly ten million users worldwide. EUNORAU is recognized as one of the most influential brands in the high-end lithium battery electric-assist bicycle industry.

As a brand under BTN, EUNORAU has possessed a competitive edge in international markets since its inception. According to the brand's founder, Fang Xiaokang, EUNORAU's products are sold in over 300 overseas dealer stores and have successfully entered the supply chain of a publicly listed company in the United States and Audi's 4S stores. Looking ahead, EUNORAU aims to deepen its presence in the Chinese market, overcome challenges, seek new opportunities, explore new avenues, push technological boundaries, ensure product excellence, prioritize user needs as its development focus, and create a new brand and culture for electric-assist bicycles in China.



Onemile is a brand under Beijing One Mile Technology Co., Ltd. Currently, Onemile has established an overseas office and research and development center, with team members from China, France, and other countries, including a former senior product development manager from a French naval manufacturing company. The team possesses comprehensive capabilities in product development, supply chain management, and distribution channels. In May 2023, Onemile successfully secured nearly CNY 50 million in Pre-B round financing, with joint investments from Fusion Capital, Qiming Venture Partners, and Lushan State-Owned Group.

Presently, Onemile has achieved a market penetration rate of approximately 20% in Europe and plans to expand into the North American market with a penetration rate of just 5%, as well as the Chinese market. It is understood that Onemile has established nearly 200 offline channels in Europe and collaborated with local laboratories for research and development. In 2022, Onemile experienced a sales volume growth of 2-3 times, with the factory's production capacity expected to reach 100,000 units in 2023. In the future, Onemile plans to establish independent online platforms in target markets and strengthen offline channels by opening physical stores. Within these offline stores, Onemile will collaborate with urban partners to organize activities such as suburban cycling, engaging in fan operations while enhancing awareness of E-bikes and the Onemile brand.



Segway-Ninebot, founded in 2012 and headquartered in Beijing, specializes in the field of intelligent short-distance transportation and service robots. In October 2020, the company successfully went public on the Science and Technology Innovation Board, becoming the first "VIE+CDR stock" among domestically listed Chinese enterprises. At CES 2024 in January, Segway-Ninebot unveiled their E-bike products, Segway Xafari and Segway Xyber, making a strong entry into the E-bike sector.

Previously, Segway-Ninebot had introduced electric balance cars, electric scooters, and other products, receiving widespread acclaim in overseas markets. As of 2022, the company's global cumulative shipments of electric scooters exceeded 12 million units, holding a significant market share in the global electric scooter category. This foray into E-bikes demonstrates the company's expansion of its business scope, aiming to apply intelligent technologies to a wider range of scenarios.



TENWAYS, established in 2021, positions itself as an electric-assist bicycle brand tailored for urban commuting, primarily targeting consumers in Europe and the United States. The brand's design and sales channel center is located at its European headquarters, while its supply chain, research and development, and operational center are based in Asia. The company successfully completed Series A and Series B financing rounds last year. TENWAY's parent company, Shenzhen TENWAYS Sports, was incubated by the TRINX, established in 1990 with decades of experience in the bicycle industry. TRINX has evolved into a mature bicycle conglomerate, housing several renowned bicycle brands.

Within its first year of establishment, TENWAYS raised over USD 850,000 through crowdfunding on IGG, launched its first E-bike, and initiated a "full-scale offensive" overseas. This expansion included the opening of over 200 physical stores and the establishment of an independent overseas website. Furthermore, TENWAYS products offer a significant price advantage. While the price range for overseas E-bikes typically falls between 500-5000 euros, TENWAYS focuses on the 1000-3000 euro range, providing high cost-effectiveness and reaching a broader user base. According to Similarweb data, TENWAYS' overseas official website had a total visit count exceeding 1.255 million from April to June 2023, with an average monthly visit count of approximately 420,000. For a startup brand, these figures are notably impressive.



Urtopia was founded in 2021 by Zhang Bo, a graduate of Tsinghua University with a passion for cycling. Upon returning to China, he established Urtopia, focusing on the electric-assist bicycle sector and employing a direct-to-consumer (DTC) and business-to-business (B2B) model to reach the European and American markets. Within just one year of its establishment, the company successfully secured nearly tens of millions of dollars in Pre-Series A financing. Within three months of its founding, Urtopia launched its first E-Bike, Carbon1, on the overseas crowdfunding platform Indiegogo, receiving over $3 million in support during the initial crowdfunding phase.

In July 2023, Urtopia announced the release of an intelligent electric bicycle, Fusion, becoming the first vehicle brand to integrate ChatGPT technology after Mercedes-Benz. This product, referred to as a "thinking bicycle," introduces a new interactive experience for cycling. Additionally, Urtopia is committed to developing its independent platform rather than relying on Amazon and similar platforms. Zhang Bo believes that dependence on third-party platforms weakens the connection between the brand and its users, leading them to establish their own independent brand image. Currently, Urtopia's independent platform has been experiencing monthly increases in traffic and has attracted a substantial number of returning customers.



Velotric, established in 2021, currently focuses on the North American market, offering locally competitive e-bike products priced between USD 1399 and USD 1699. As of May 2023, Velotric has raised over 100 million yuan in cumulative financing, with investors including UpHonest Capital, Fosun RZ Capital, Redpoint China, and Lightspeed China Partners.

As a new brand expanding internationally, Velotric launched its independent platform in May 2022 and achieved over USD 15 million in sales within a short seven-month period. Starting from 2023, Velotric has been aggressively developing its offline sales network and has already established partnerships with 300 offline dealers in North America, with plans to collaborate with 700 dealers this year. According to Velotric, with a richer product portfolio and expanded distribution channels in 2023, the revenue is expected to more than triple compared to 2022. The brand also indicates its intention to progressively explore markets in other regions over the next 2-3 years, which is currently under ongoing consideration.


Bottome line

In Europe, electric motor-driven vehicles with a power greater than 250W and a speed exceeding 25 km/h are classified as L1E vehicles. Products falling within this framework require certification, necessitate a driver's license, insurance, helmet use, and prohibit riding outside of designated motorized vehicle lanes. This situation has made purely electrically driven electric vehicles less convenient and challenging to promote, while electric bicycles conveniently bypass these policy impediments, providing greater potential for overseas adoption of E-bikes.

However, the global trend toward consumer downgrading leaves us uncertain whether this brings risks or benefits to the E-bike market. The European policy landscape remains unclear, with VAT anti-dumping policies, tax regulations, and the formidable competition from European and American brands posing unprecedented challenges for Chinese brands.

In the current surge of the E-bike race and the influx of numerous players, their stories may differ, but only through product excellence and relentless innovation can they find the sole path to survival.