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Electric bicycle production increased by more than 40% for 5 consecutive months

Electric bicycle production increased by more than 40% for 5 consecutive months

On October 9, the Ministry of Industry and Information Technology issued the "Operation of the Bicycle Industry from January to August 2020". The output of electric bicycles was 19.427 million, a year-on-year increase of 25.6%, and the year-on-year growth rate continued to increase.

Among them, the output of electric bicycles was 3.903 million in a single month in August, a year-on-year increase of 42.6%. It started a growth momentum of nearly 50% for five consecutive months since April.

From the perspective of benefits, the operating income of electric bicycles from January to August was 58.09 billion yuan, a year-on-year increase of 23.4%, and the total profit realized was 2.68 billion yuan, a year-on-year increase of 42.9%.


Electric bicycle with Lithium Battery


Since April 2020, the electric bicycle market has recovered rapidly. The main reason behind this is the increased demand for To B end such as shared bicycles and takeaways, which drives overall sales.


The increase in the output of electric bicycles will also release the corresponding demand for lithium batteries.

With the emergence of the replacement wave after the new national standard and the rapid development of battery replacement, the shipment of bicycle lithium batteries will increase to 8.45GWh in 2020, a year-on-year increase of 55%. In 2021, the penetration rate of lithium batteries will further increase, exceeding 30%.

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