Price Increase
March 2, 2021
Effective 3-10-2021.
As much as we hate to do it, the recent Trump-era trade war tariffs which were finally implemented for electric bikes on January 1st 2021 are forcing us to increase the prices of our electric bikes. We have long been leading the industry in a more affordable approach to quality electric bikes and we plan on continuing this trend in the future. However, the added 25% expense to our products has forced us to increase our product prices 5-10% (+$100) per model. This is not going to cover all of our increased expense, but we do hope it will be enough to keep us in business until this harmful policy is ended.
Summary
- Due to 25% tariffs on electric bikes (Jan 1st 2021) our prices have increased +$100 per model.
- We have reduced our shipping costs even, and operating costs even more in the past year and simplified our B2C model to pass on more savings to you.
- Due to additional cost savings on our part, we are able to reduce the impact of these 25% tariffs, and we also plan to cover half of this added expense.
- It was unsustainable to continue selling our quality bikes at the 2020 prices due to the added tariff expense.
Reason for Optimism?
With the new presidential administration, we hope the harmful trade war will be ended, but so far it doesn’t seem like this will happen. We also hope new policies promoting the ultra efficient transportation via electric bike will be adopted on a federal level, which would allow us to provide electric bikes to you at all time low’s in the coming years. If EV’s are going to receive a $7500 federal tax credit, we believe transportation by electric bike should be rewarded as well. Unfortunately, credits or even tariff exclusions are not here yet, but we will do everything in our power to provide quality personal transportation to you at the lowest possible price.
Articles for further Reading:
A new bill would give a refundable tax credit of 30 percent on the purchase of a new e-bike
