An industry briefing detailed that during the aforementioned period, the country sent abroad 10.7 million pieces of equipment and invoiced 20 million yuan (around 3.09 million dollars). The production of the main manufacturers of electric bicycles rose 86.3 percent and is expected to close 2021 with 80 million units.
China has been recording a boom in demand for its cycles for just over a year and, for example, from June to August, the volume of shipments exceeded 1 billion US dollars, the first time in 25 years that such a figure has been reached in a quarter.
Destination nations include the United Kingdom, Australia, the United States, India and the Netherlands.
The situation encouraged more companies to enter the business and by mid-2020, China registered 18,538 new manufacturers of the popular cycles, according to the Tianyancha website.