Analysis of China's E-bike Brands Going Global
The Rise of Heybike: From Obscurity to Top 3 in North America
Over the past few years, driven by lifestyles emphasizing convenience, environmental protection, and health, ebikes have increasingly become the preferred choice for short-distance travel and outdoor adventures. This has led to rapid growth in the electric bike market.
Shenzhen Xintu Innovation seized this growth opportunity. In just two years, it grew from a little-known small ebike company into a top brand ranking in the Top 3 for sales in North America.
Reviewing its development history, it started with OEM manufacturing. During the initial outbreak of the global pandemic, Xintu Innovation recognized the potential of overseas electric bike development and began producing for European brands and cross-border enterprises under an ODM model. However, knowing full well that establishing a firm foothold in the ebike market required substantial development, it inevitably focused on building its own brand.
Beyond OEM, Xintu Innovation also focused on developing its own brand, Heybike. Benefiting from rich practical experience, Heybike had clear goals from the start: specializing in urban commuter ebikes and outdoor emtbs (electric mountain bikes), priced in the low to mid-range segment, between $800 and $900.
Image Source: heybike
Thanks to precise product positioning and high cost-effectiveness, Heybike quickly made a name for itself in the electric bike market. Within just over seven months of its establishment, Heybike's product sales exceeded 15,000 units, setting a sales record for new brands at the time. By the end of 2022, Heybike surged into the top ranks of the North American market, reaching Top 3 in sales.
In addition to market insight and product innovation, Heybike also dedicated efforts to marketing. After all, ebike culture was already prevalent, with many established European and American brands having a first-mover advantage. As a new player and foreign entrant, Heybike needed not only to be seen but also to be understood and recognized by consumers.
On one hand, Heybike heavily expanded into mainstream channels like Amazon, Walmart, and Best Buy, forming a core sales network. On the other hand, it actively operated its own Direct-to-Consumer (DTC) website and maintained a strong presence on major social media platforms to attract organic traffic and build its brand image for its electric bikes.
Currently, Heybike products are sold in hundreds of overseas supermarkets, covering most key consumer regions. Its total followers on social media platforms like TikTok and Instagram reach hundreds of thousands, with total traffic in the hundreds of millions. Its DTC website also attracts over 300,000 monthly visitors on average, with nearly 50% being direct traffic.
Image Source: SimilarWeb
Driven by both product and marketing efforts, Heybike's conversion rate significantly improved. Since surpassing $100 million GMV in 2023, it has been profitable for three consecutive years. During this period, Heybike's ebike product pricing gradually increased from $1,000 to over $2,000, and its brand positioning extended from the mid-low end to the mid-high end market.
Undoubtedly, in this dynamic electric bike market, Heybike has proven its capabilities. In the future, as the market size continues to grow, Heybike will encounter even broader development opportunities.
The Broader Landscape: Chinese E-bike Brands Expanding Overseas
In fact, Heybike's success story is just the tip of the iceberg regarding ebike exports. Driven by technological and supply chain strengths, increasingly more Chinese brands are securing a place in the overseas market.
Among them, Shenzhen DYU is one of the pioneers. This brand began planning its overseas expansion as early as 2017. Through precise understanding of market demand, it quickly became a leader in the folding electric bike sector. In 2020, DYU's overseas sales exceeded 150,000 units, making it the first Chinese ebike enterprise to export over 100,000 units. By 2023, DYU's annual shipment volume approached 500,000 units, capturing 30% of the US folding electric bike market share.
Image Source: dyucycle
Unlike most brands, DYU primarily focuses on offline supermarkets as its main battlefield, emerging as a top brand through physical channels. Its philosophy is to treat ebikes as consumer electronics for channel expansion—securing one supermarket chain equates to gaining hundreds of physical stores. Consequently, even now, offline revenue still accounts for over half of DYU's income.
Fiido, under Shenzhen Feedo Technology, also developed during the same period. As an emerging emtb and ebike brand, Fiido noticed the significant importance of offline retail at its inception, while online channels had considerable gaps. Therefore, Fiido adopted a DTC model, breaking through by relying on its own channels. In its second year, Fiido's sales exceeded 100,000 units. By 2023, Fiido's annual revenue surpassed the $100 million mark.
Image Source: fiido
It can be said that in the global electric bike market, Chinese brands, as latecomers, not only have the ability to gain user recognition but also the strength to lead industry trends.
However, as the market size continues to rise and new players constantly enter, this blue ocean is gradually turning red. Under these circumstances, export brands need to focus more on market demand, deeply understanding users' travel habits, cultural preferences, etc. Simultaneously, it should be clear that technological innovation remains the core competitiveness. Especially with the widespread popularity of technologies like AI, brands need to keep up with the times and apply contemporary technologies to product development, such as AI-recommended riding routes or intelligent riding companions for ebikes and emtbs.
Looking forward, as the industry enters a high-quality development stage, victory will undoubtedly belong to those brands that accurately assess the situation and are grounded in demand. Capable sellers need to pay more attention to market trends and meet challenges with greater flexibility.