TAICHUNG, Taiwan (BRAIN) — Giant Manufacturing says it racked up double-digit sales growth in e-bikes in Europe in the first half this year, contributing to a 7.9 percent increase in revenue. The company brought in NT$29.17 billion ($947 million) in the first half.
The company said favorable exchange rates as well as the e-bike craze contributed to the increase. It said sales in the U.S. have been flat, although it is seeing some growing demand for e-bikes there and it expects to see more growth in the U.S. following the introduction of its new model year lines. It said sales in China remain soft but it has seen an encouraging increase in sales of carbon bikes there this year.
Although protectionist actions in Europe and the U.S. are a concern, Giant said it is well positioned for continued global growth in the e-bike market, with a Taiwanese production facility to serve Europe and North America and new facilities in the Netherlands and Hungary to get closer to the European market, which the company called “the heard of the e-bike market.” Its Chinese e-bike factory, which in the past has provided bikes for Europe and the U.S., is now focusing …read more