Spending $1500-$4000 on an electric bike is expensive, given that you could get three or more regular cycles with the budget. So, why are electric bikes so expensive?
Electric bikes are primarily expensive because they feature costly components, including a motor, controller, and rechargeable battery. Additionally, these bikes occupy a small niche market that doesn’t offer the manufacturers the benefits of economies of scale.
We also cannot forget the incredible environmental benefits that e-bikes enjoy over regular bikes.
I’ll explore all the reasons and the benefits of e-bikes. Also, I’ll share with you some of the best budget e-bikes.
But before that, let’s first understand what an electric bike is.
So, what is an electric bike?
An electric bike is a bike with an electric motor for propulsion and a rechargeable battery that powers the motor.
Like regular bikes, e-bikes need to be pedaled to move. The difference is that the pedaling is much easier as it’s motor-assisted.
The average e-bike can hit 16-25 mph, depending on its motor capacity.
Why Are Electric Bikes So Expensive?
Electric bikes are primarily expensive because of these two reasons:
1. Electric Bikes Have Expensive Components
An electric bike is made of three major components, which are costly, and as a result, they make it pricey.
I’m talking about these three:
- Motor
Different e-bikes come with varying motors with various capacities, and the higher the capacity, the costlier the e-bike.
Overall, motors with a 48-72V capacity are among the most efficient and the most expensive.
- Battery
A powerful motor requires an equally powerful battery to run it, and a powerful battery is usually expensive. Depending on the type, high-quality e-bike batteries cost $500-$900.
So, if you add the motor cost to the battery cost, you’ll be at a thousand dollars and counting.
- Control System
The e-bike’s control system is an expensive component that controls the motor, battery, and other parts.
2. The E-Bike Sector is Still a Small Niche Market
Though e-bikes have been in existence since the 90s, their market remains a small niche sector.
E-bike manufacturers don’t buy the components in bulk as they are not sure of selling in bulk. As a result, they cannot drop the prices as that may mean going a loss.
So, they choose to produce only a few bikes that they price so high.
Simply put, they do not enjoy the economies of scale as their counterparts who make regular bikes.
Manufacturers of regular bikes can afford to increase production and lower their costs because they know they can source the bike components in bulk and enjoy massive discounts.
3. Other Things That Make Electric Bikes Expensive
E-bikes have several details that are costly to assemble. For starters, these bikes come in waterproof constructions to allow you to continue cycling in the rain.
Plus, their materials are not just lighter but also more durable to last you longer.
How Expensive Are Electric Bikes?
Let’s talk about the ‘how part’ since you already know why electric bikes are so expensive.
I mentioned $1500-$4000, which is the average price range for most electric bikes. However, some electric bikes cost over $50,000.
That includes the Peraves MonoTracker MTE-150, the Black Trail BT, and the ZecOO Electric Motorcycle.
A manufacturer like Audi prices its e-bike at around $20,000.
Usually, the costliest e-bikes are more motorcycles than bikes, coming with the most powerful batteries and motors.
Are there Affordable Electric Bikes?
There is no doubt that most electric bikes are expensive. It, however, doesn’t mean that you cannot get one on a budget.
You probably don’t know this, but it’s possible to get a reasonably decent e-bike for under $1000.
You have to settle for an average speed, however, and even an average motor and battery.
Good news! You can always upgrade the motor and the battery to make your budget e-bike more powerful and faster.
So, What Are the Best Electric Bikes Under $1000?
Consider any of these three e-bikes if you are looking for an e-bike that doesn’t cost you more than $1000:
- ECOTRIC 500W Folding Electric Bicycle – Best Folding E-Bike under $1000
- ANCHEER 500W Electric Bike – Best Commuter E-Bike under $1000
Are Electric Bikes Worth The Money?
But, are electric bike worth it? Why should I spend so much money on just one bike?
Well, here are the reasons why e-bikes are worth it:
- Electric bikes are environmentally-friendly
Compared to cars and motorcycles, e-bikes use less power. They also have zero emissions, making them safer for the environment.
That’s because they run on electric power and not a fossil fuel.
E-bike batteries also don’t contain the toxic lead, which you usually find in car batteries, thus safer.
- Electric bikes go faster with less effort
With the average e-bike hitting 16-20mph, an electric bike is, without a doubt, faster than the average bike. The best part is that you can go more quickly without using excess pedaling effort.
So, the pedaling is generally gentler on your body.
- Electric bikes are suitable for exercising
While most people assume that riding an e-bike is cheating, it’s not as you have to pedal. The only difference is that you get assisted to pedal, and so you use less effort.
But as long as there is some pedaling, you are likely to burn calories. As a result, electric bikes are suitable for exercising, even if you won’t burn as many calories as riding a regular bike.
- Electric bikes save on commuting costs
Even though e-bikes are costly to buy, they save money in the long run if you use them for commuting. Since they don’t require any fueling but to recharge their batteries, e-bikes are cost-effective.
FAQs
1. Are Electric Bikes Overpriced?
It’s easier to think that electric bikes are overpriced, given that most of them cost thousands of dollars.
But if you consider the amount of money invested in their assembly, you understand that the price is only a reflection of the input.
2. What Is The Best Electric Bike For The Money?
If you want the best electric bike for the money, here are three e-bikes under $1000:
- ECOTRIC 500W Folding Electric Bicycle – Best Folding E-Bike under $1000
- ANCHEER 500W Electric Bike – Best Commuter E-Bike under $1000
3. How Long Will Electric Bike Last?
The average e-bike lasts 3-5 years, but after that, the battery and motor start to decline in performance. The tires and chains are likely to last 1-3 years while the brakes last 2-5 years.
The frame is, however, likely to go for 2-10 years, depending on maintenance.
4. Why Are Ebikes More Expensive Than Motorbikes?
E-bikes are more expensive than motorbikes, majorly because they are more cost-saving to commuters. They don’t use fossil fuel but only a rechargeable battery.
E-bikes are also environmentally friendly. Additionally, e-bikes occupy a smaller market niche than motorcycles. So, fewer e-bikes are made than motorcycles.
5. How Much Can I Spend On An Electric Bike?
You can spend anything between $800-$4000 on an electric bike, depending on the type of bike and budget.
While you can get a budget e-bike for under $1000, the options are not many. Most decent e-bikes average $1500-$4000.
6. Will Electric Bikes Come Down In Price?
Today, electric bikes are more affordable than ever before.
It’s now possible to get a decent e-bike for under $1000, even though the options are not many.
So long as more manufacturers make these bikes, which has been happening in recent memories, the price will come down.
The only issue is that we cannot tell when that’ll happen.
7. What Are The Disadvantages Of Electric Bikes?
The biggest disadvantage of electric bikes is that they are pricey. You may have to spend over $1,000 on most models.
Additionally, their repairs and maintenance are costly, and you may have to replace the battery often as majorities have a shorter lifespan.
What’s more, the extra components make e-bikes heavier.
8. Are Cheap E-Bikes Any Good?
Cheaper e-bikes come in low-quality versions, thus unreliable in the long term. There are, however, a few e-bikes that cost slightly under $1000 that are decent in performance.
So, you have to do your homework to ensure the cheap bike you go for is a decent performer.
9. Do You Get Good Exercise On An Electric Bike?
Since you have to pedal an e-bike to move it, you engage your leg muscles, which counts as an exercise.
Though you may not lose as many calories as someone riding a spin bike or regular bike, you’ll lose enough to keep fit if you ride regularly.
Besides, the fact that you ride faster means you engage the muscles more.
10. How Much Does It Cost To Replace An E-Bike Battery?
A decent e-bike battery costs $500-$900, depending on capacity. Such batteries usually have 400-700wh power, which is excellent for commuting or exercising.
Also Read:
- Most Powerful Electric Bike Conversion Kit
- Why Is My Electric Bike Cutting Out?
- Are Foldable Bikes Worth It?
In Conclusion, Why Are Electric Bikes So Expensive?
Our discussion clarifies the components; more so, the battery, controller, and motor make e-bikes expensive.
However, you cannot forget the lack of economies of scale advantages and the environmental benefits that come with e-bikes.
Frequently Asked Questions
Is it worth buying an expensive ebike?
Without a doubt, purchasing a higher-end ebike can truly enrich your biking experience. The difference between a higher priced ebike and a lower-priced one can be likened to the disparity between a Chevrolet and a BMW. Each will get you to your destination, but the journey you have with each can be vastly different. Superior ride quality and top-notch performance are what characterize a costlier ebike. Dealer support, which for many can tilt the balance in the favor of a more expensive ebike, usually comes with a high-end bike. They not only provide better assistance but also save you from any potential hassles in the future. Remember, you’re investing in quality, comfort, and a sustainable mode of transportation when buying a high-priced ebike.
Are electric bikes worth the hefty price?
For those unfamiliar with electric bikes, the prices may initially appear steep. However, once you factor in the extra features, like powered pedals, batteries, and other state-of-the-art gadgets they come equipped with, the price justifies itself. When you’re contemplating purchasing an e-bike, understanding what you’re willing to spend and whether it’s worth upping your budget for a premium model is critical. To share from personal experience, when I first tested out a high-end model, the smooth ride and effortless speed were absolutely worth the price. In essence, ebikes justify their cost with their unique features and convenient experiences.
What is the big deal about electric bikes?
Ebikes are truly revolutionizing transportation, especially for shorter trips. On various occasions, an ebike can prove to be a faster and cheaper mode of transportation compared to a car. From my professional standpoint, the benefits don’t end there. The expenses for owning an ebike are significantly less. You don’t need to worry about extra costs like taxing your ebike. Moreover, while it might be advisable to take out electric bike insurance, it’s going to cost you a lot less than car insurance. With an ebike, you get an efficient, cost-effective mode of transport that’s not only environment-friendly but also keeps you active.
How much does a decent electric bike cost?
Ebike prices can vary greatly based on a range of factors, with some models being available for less than $500, while others could have you shelling out several thousand dollars. For the majority of users, however, top-scale models can be expected to fall within the bracket of $6,000 to $7,000. Providing some context with data from the NCSL, the average cost for a commuter electric bike is between $2,000 to $3,000, whereas a conventional mid-range commuter bicycle generally comes in around $1,000. Fundamentally, you get what you pay for. A decent ebike can be expected to incur a somewhat higher cost, but the range of benefits it offers justifies the price point.