CHINA exported over a million electric bicycles last year under Belt and Road Initiative and amid a gloomy domestic market, the industry association announced today.
Some 1.3 million electric bicycles with the total value of US$510 million were exported to over 100 nations and regions in 2016, a 20 percent increase on year, said Ma Zhongchao, director with the China Electric Vehicle Association.
“The Chinese-made electric bicycles have the advantages on price and quality comparing with those manufactured abroad,” Ma said. Made-in-China electric bicycle is sold at an average of US$400 each, comparing with over US$2,000 in the Western market.
The industry leader TAILG Group, for instance, exported over 20,000 electric bikes worth over US$50 million to foreign markets last year, Wang Jun, deputy general manager with the group said at the sideline of the 2017 China International Bicycle Fair in Shanghai today.
The Shenzhen-based group has signed sales contracts worth about 210 million yuan (US$30.4 million) with foreign companies from Germany, Mexico, Poland, Indonesia and Thailand at the fair. One of the group’s electric bicycles named C-One won the German Red Dot Design Award.
China’s domestic sales on electric bicycle have been declining since 2013 in the face of a saturated market, said He Zuoxiu, a scholar with the Chinese Academy of Sciences. China has over 250 million electric bikes, while an additional 33 million are being newly manufactured annually, He said.
However, the demands are growing in Germany, France, India, Vietnam and other foreign markets. China’s ‘One Belt, One Road’ initiative has created a best opportunity to export the abundant electric bicycles abroad, he added.