Affordable Electric Bikes
Junto Bicycle Works is on a mission to reduce pollution, congestion, and stress caused by traffic in America’s cities and suburbs.
The company has designed a fleet of electric bicycles, also known as “e-bikes.”
Unlike other e-bikes that can cost as much as $4,000, Junto’s bikes cost just $1,799, and can run between 30 and 60 miles on a single charge.
According to Forbes, urban and suburban residents are seeking faster, greener modes of transportation.
This trend has resulted in a significant increase in the number of e-bikes sold. In fact, by 2023, Statista.com predicts e-bike sales will reach 40 million…
And according to Business Wire, the global bicycle market is expected to reach $34 billion by 2022.
To capture this momentum, several top companies in the transportation industry have raced to acquire bike-related start-ups — for example:
In April 2018, Uber acquired bike-sharing company JUMP for $200 million…
In June 2018, Lyft acquired Motivate, another bike-sharing company, for $250 million…
And in March 2018, Harley Davidson acquired part of Alta Motors, a company that manufactures electric dirt bikes.
Junto launched its first bikes in November 2017. The company just completed a prototype of its “Generation 2” bike, and expects to begin shipping those models in September 2018.