Core Viewpoint - The article discusses the emerging market for electric bikes (EBikes) in the U.S., highlighting the significant growth potential and the strategic positioning of Velotric, a company founded by Zhang Xi, who has a background in the shared mobility sector with Lime. The focus is on catering to middle-aged and older consumers seeking recreational activities rather than competitive cycling [4][6][9]. Market Overview - The U.S. EBike market saw imports grow from 450,000 units in 2020 to 1.1 million units in 2022, representing about 10% of total bicycle sales that year [6]. - Zhang estimates a potential annual sales volume of 10 million EBikes in the U.S. over the next decade, indicating a substantial opportunity for startups [6][17]. Company Background - Velotric was established during the pandemic, capitalizing on the increased demand for personal transportation options that allow for social distancing [6]. - The company has achieved a 100% annual growth rate since its inception, selling 150,000 EBikes and becoming the second-largest EBike brand in the U.S. [6][21]. Target Audience - Velotric primarily targets middle-class consumers aged 40 and above, who may have reduced physical capabilities but still wish to engage in outdoor activities [6][16]. - The company aims to provide a user-friendly experience for those who may not have ridden a bike in years, focusing on leisure rather than commuting [16][17]. Product Offering - Velotric's EBikes are priced between $1,499 and $2,499, positioning them in the mid-range segment of the market. The best-selling model, the Discover series, offers a range of 75 miles and a maximum power of 1,100W [7][33]. - The company emphasizes comfort and safety in its product design, with innovations such as a low step-over height and enhanced battery safety features [22][24]. Business Strategy - Velotric has shifted its sales strategy from online to offline, with 75% of sales now coming from physical retail channels, reflecting the importance of customer experience in the bike purchasing process [21][29]. - The company has built strong relationships with independent bicycle dealers (IBDs) to enhance brand trust and market presence [29][32]. Competitive Landscape - The article notes that while the EBike market in Europe is well-established, the U.S. market is still in its early stages, providing an opportunity for companies like Velotric to differentiate themselves through innovation and customer-centric solutions [14][15]. - The competitive advantage lies in leveraging China's advanced supply chain capabilities while adapting to local market needs in the U.S. [33][34].