Look Out: Electric Bikes Are an $11 Billion Industry

Electric bicycles are no longer a fringe form of transportation.

The global market for electric bikes has blown up the last decade.  The boom has been spurred by China where the number of electric bikes has skyrocketed from a few thousand in the 1990s to 120 million. 

The growth of the electric bike has also found its way into Europe--last year, in The Netherlands where nearly one-third of the money spent on bicycles went to purchasing electric bikes. 

Growth in United States has been much more muted--only 250,000 sales last year--but interest is on the rise.

With burgeoning markets across the world, the electric bicycle has turned into an US$11 billion industry.

The bikes vary in size and style with some looking like a conventional bike, while others more closely resemble a scooter. 

Regardless of their look electric bikes storming the transportation world, and helping to reduce greenhouse gas emissions along the way--especially in China.  Electric bikes do have some environmental concerns including the use of lead batteries, however they are still a more eco-friendly transportation method than a car or taxi.

Electric bike-rider David Chiu says, "Electric-assisted bicycles will change how people think about bikes in urban areas."

Read the full story at the New York Times:  Born in China, Electric Bikes Gain a Toehold in the West