Would you like an electric bike? It costs $5,995
The bike can go 45 mph and up to 30 miles on a single charge.
"About four dollars of electricity takes me about 600 miles," Wilsey said. "I haven't been to a gas station in like five months."
Wilsey, an architect, has joined with investor and serial entrepreneur John Cousins to sell the patent-pending vehicle through their new company, DC Electro. It's intended for daily commuting, rather than recreational use. And it has a $6,000 price tag.
"It's intended to replace a car in short point-to-point commutes," Cousins said. "It will sell for $5,999, but it can pay for itself in 18 months with all the savings on gas."
The company is tapping into a rapidly growing domestic and world market for electric bikes. But it faces challenges, starting with federal laws that limit electric bikes to 20 mph, or 750 watts of power, to ride in bike lanes or on multi-use trails. At higher speeds, it would be classified as an electric vehicle, such as a scooter, and might need to be registered for use on streets.
- Posted on September 16, 2012