The price of an electric bike is between $750 and $14000. This hefty price tag is due to the sharp increase in demand and the ease of use that comes with it.
According to global data, the e-bike market is expected to grow at almost 10% per year. This will bring it to $62.3 billion between 2022 and 2030. This growth is responsible for the cost.
This blog post is a guide to knowing the different price ranges for these bikes. So you can have an idea when budgeting to get yours.
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What Is An Electric Bicycle?
This is a bike with a motor that helps you pedal. The motor gets its power from the bike’s built-in battery and can be charged.
To be called an e-bike, the motor should help you to move. So, you have to pedal to get that help.
And how much power the motor gives you is controlled by how hard you pedal.
Here is an another article, Can Electric Bikes Go Uphill? (Answered) You can read it now.
Types Of E-Bikes
E-bikes are categorized based on their purpose.
These includes:
1. Standard E-bike
This bike offers only basic features. And it doesn’t come with bells, whistles, or other extra features.
This bike is for general riding and costs between $1,000 to $3,000.
2. Folding E-bike
This is a foldable electric bike. A folding electric bike is a good choice if you want a bike you can take anywhere.
For this kind, you should set aside between $1,500 and $3,500. It costs more than the standard type because it has a built-in extra mechanism.
Foldable electric bikes are the best if you want a bike that can fit into a small storage space.
3. Cargo E-bike
Cargo e-bikes are the best if you need them for business. They are a great way to carry a lot of stuff around and are strong enough to carry a lot of weight.
The price of an electric cargo bike ranges between $1800 to $8,000. They are more expensive than standard or folding bikes because they have more features.
4. Off-Road E-Bike
This bike is the best for adventures and people who travel mainly in off-road locations. It can be used on mountains or rough terrains without losing speed or power.
The price is between $2,000 to $5,000. Heavy-duty electric parts are used to manufacture them, which makes them heavy.
The off-road bike is the most powerful and expensive of all the different electric bike types we discussed above.
If you desire the fun and durability that comes with this bike, then you need to spend more to buy them.
How Much Are Electric Bikes For Adults?
The average cost of e-bikes is around $4,750. However, you can still buy them within the price range of $1,900 to $9000.
Don’t miss to read our Top 10 Best electric mountain bike under 3000 [2022]
How Much Does An Electric Bike Battery Cost?
On average, an electric bike battery costs between $1800 to $3500. You can get the standard watt-hour capacity of 250WH at this range.
Some manufacturers design their bikes to accommodate more batteries. This is to increase the distance you can cover with them.
For instance, you can add two more batteries to get 750WH, but this comes at an additional cost.
How Much Does It Cost To Charge An E-bike?
You can charge an e-bike for less than $1. It doesn’t really cost much to charge. However, the price varies in different countries, and it’s also based on battery capacity.
In the US, for example, you can charge a 1000 battery capacity for as low as $0.133. And you get to charge this battery from 0% to 100%.
What Are The Factors That Influence The Price Of An E-Bike?
E-bike batteries and motors are the factors that influence the price.
Let’s take a look at these factors in detail.
(i) E-Bike Battery
Acquiring an e-bike battery will take a considerable chunk out of your pocket. For top-tier battery suppliers like Panasonic, Samsung, LG, and Sony, the battery can cost between $0.70 and $0.90 per WH.
- [Parameters and long battery life] The ebike battery is 48V, 12.8Ah, the large capacity battery makes the bike long life. It also features a long lifespan, the charging time is about 5 ~ 6 hours. The ideal driving distance for each load is 30-50 km.
- [Safety and environmental protection] The lithium-ion battery consists of high quality cells with good safety performance, integrated protection board, as well as overcharge, overdischarge, overload and short circuit protection. so that your safety is not compromised and a well-designed battery.
- [Perfect Design] Lightweight design, easy to install and remove. Anti-theft device to protect against battery loss, waterproof and sandproof, you don't have to worry about driving.
- [High-end quality] Our lithium-ion batteries have undergone thousands of discharges and safety tests, so you will only feel relieved while using them. With the battery fully sealed, it can be used all day whether it is rain or mud.
- [After sales service] If the power is wasted during storage and transportation, please charge the battery before use, if you have any questions please contact us, we will reply you within 24 hours.
A typical 500Wh battery would cost between $350-$450. And custom made batteries come at a higher price.
(ii) Motor
Buying e-bike components like the motor is expensive for obvious reasons. They are becoming more popular, and the demand is high.
After Purchase Cost
Even after the purchase, e-bikes still incur costs. It requires adequate maintenance and charging. Below are some of the extra expenses you should be aware of.
(i) Maintenance Cost
Riding a bike involves a lot of tear and wear, so you will have to take yours for maintenance at some point.
You should set aside between $700 and $1000 for maintenance. And it’s advisable for every 500 miles your bike goes or every six months if you ride it often.
Adjusting the brakes on your e-bike is another after-purchase cost you’ll incur. For brake adjustments, you will spend between $20 and $35.
And if your bike needs outright replacement, that is quite an extra cost.
Also, patching a flat tire should be at the top of your list of repairs. Bike tires wear out quickly, especially if you ride your bike always. You will spend between $10 to $20 for this.
(ii) E-Bike Charging
Electric bikes have built-in batteries, and charging them comes with a price. The price of charging your bike depends on how much battery it needs. So for this, you can spend $1 or more.
A fully charged battery that can go 20 to 40 miles can cost between $0.45 and $0.08 per charge. This price varies and depends on factors like battery size, weight, and charge duration.
You should set aside a dollar for every 300 to 400 miles the battery needs to go. But it’s still cheaper than buying gas for your car.
(iii) E-Bike Extras
Upgrading your bike involves paying for additional components. The bike parts you buy and the quality you go for determines how much you spend.
So you can budget between $45 and $100 for these accessories. This includes safety helmets and quality e-bike locks.
(iv) Insurance Policy
Buying an electric bike is an investment in itself. Although most e-bikes come with limited warranties, you should still get insurance.
The price you will pay for insurance depends on the duration and the coverage you want.
You can choose a warranty that lasts up to five years. The policy can cover the motor, the battery, the frame, etc.
You can get an electric bike insurance policy between $100 and $200 per year.
Frequently Asked Questions (FAQs)
Conclusion
If you desire to buy an e-bike, you can find one that fits your budget. The cost of buying it can be expensive at the initial stage.
But when you compare the cost of charging it and buying petrol or gas, it’s a lot cheaper. Still, you get to save money in the long run.
