130 million? Can that figure possibly be true?
It is, says ID TechX, but first we must explain what's meant by light electric vehicles.
Light electric vehicles include bicycle, scooters, personal mobility devices, mopeds and motorcycles.
ID TechX furthers says that "Nearly all electric vehicles are and will remain e-bikes, with the e-bike market growing to be about 1 in 2 bicycles worldwide, or 65 million electric bicycles per year."
Of course, we must look beyond the US to see that what ID Tech X is saying is actually true.
In several Asian countries, the electric bicycle is the primary means of transportation. Likewise, electric scooters are growing increasingly popular in Europe and in Asia.
All of this leads to ID TechX predicting that at least 130 million light electric vehicles will be sold yearly from 2025 on. This figure, according to ID TechX, will make light electric vehicles one of the "world's largest industries."
Source: ID TechX