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Mar 01, 2024
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Despite the massive growth in cycling thanks to the rise of e-bikes, the bike industry, as a whole, has been in a slump for the last two years. The slump owes to a boomerang effect that followed a massive rise in bike and e-bike sales in 2020 and 2021 due to the pandemic. Swiss e-bike maker Stromer managed to chart company growth in 2023 even as other brands were discounting their e-bikes during prime selling season.
Stromer’s parent company, myStromer AG, which is also the parent of e-bike brand Desiknio, accomplished a major feat in 2023 by growing their market share in two of Europe’s hottest e-bike markets, Belgium and the Netherlands. The company managed an even more unlikely deed in the U.S. by charting double-digit growth.
Among Stromer’s accomplishments in 2023, they built the first rideable prototype e-bike using a ceramic battery. They also forged a multi-year relationship with Alinghi Red Bull Racing to introduce two Alinghi Red Bull Racing Special Edition Stromer models.
According to the company, Stromer owners have ridden 67 million miles on their e-bikes, which has saved a whopping 20,000 metric tons of CO2 that would otherwise have entered the atmosphere. That’s the equivalent to 10,000 round trip flights from New York to London.
“The bicycle industry had a much harder time last year than in the boom years during and
after the coronavirus. That just amplifies our excitement about the growth we achieved in
our core markets. And at this time in particular it is essential that we continue to invest in
innovation and growth to improve our market position,” states Co-CEO Dr. Karl Ludwig Kley.
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