The Pandemic was the start of all manner of turbulence, including the supply and demand balance of several different products.
Many things became expensive in response to increased demand. Bicycles were one of them—for nearly two years it was nearly impossible to purchase a new ride, at least without waiting astronomical lengths of time. The increasingly popular electric segment of bicycles has been no exception, and current chaos such as the Ukraine-Russia issue continues to impact supply chains the world over.
“The adoption of alternative fuel vehicles continues to increase in popularity, especially with gas prices hitting a record high across the country,” Ali Kazemkhani, chief executive officer of ENVO Drive Systems, noted.
For those wanting to ride, at least one BC startup has figured out how to get by in this New Normal.
ENVO Drive Systems revealed this week that its inventory levels of electric mobility vehicles “are among the highest in Canada,” which it believes is the result of “sophisticated in-house engineering and future-proof vision.”
“We are proud to announce that our forward-thinking team has been successful in developing an excellent inventory for our dealers’ distributions,” Kazemkhani stated.
The Vancouver-based company says that by investing into in-house engineering, it has managed the manufacturing cost at a low level, saving on manufacturers’ overhead and profit margins.
Kazemkhani says that big-name brands are reluctant to make a change in their supply chain due to scale.
“We all know that when supply meets demand, everybody wins, but that’s often much easier said than done,” he said.
ENVO’s in-house engineering allows it to do business with several manufacturers and vendors simultaneously in different geographies to ensure products are delivered on time.
“ENVO worked hard to build a robust supply chain to ensure abundant inventory for local dealers, backed by sustainable engineering, design, high-quality components and features that the buyers want,” Kazemkhani added.
ENVO believes the pedal-assisted e-bike market will continue to grow across the globe this year with an expected 14% growth rate. The North American market will contribute the most to that figure.
“The Canadian pedal-assisted e-bike market experienced drastic growth to approximately $300 million in 2021, which is 15 times more than in 2017,” explained Kazemkhani. “The rapid growth of the Canadian market makes it 25% of the US market size now.”
The CEO believes there is “a paradigm shift” in Canada toward electric mobility.
The startup also makes a “Snowkart” for winter terrain.