BUS 225 Project Four Template
Press Release
DITCH THE GAS AND SAVE SOME CASH
: ESCOOTERS AND BIKES THE NEW WAY TO GET AROUND!!
A plan to come out with an electric bike and scooter line to help save our customers money and time, but also the planet.
Through extensive research on electric bikes and scooters we have seen that there is an increase in use and the need for these types of vehicles especially around cities where commuting can be a nightmare. The switch to electric options has been on a rise as gas process continue to increase and the world continues to become more expensive while the middle class is still being paid the same. By having electric car, bicycle, and scooter options we can help not only the environment but the working-class people who are struggling to make their rent let alone gas, insurance and a car payment.
The decision to diversify into this industry was made after results of the research that was performed concluded that there was a continued increase of need and want for e scooter and bikes. The increase of weekly downloads of e scooters and bike apps continues to steadily rise especially in larger cities. We
expect a urgent increase in customer demand especially in larger cities where commuting is becoming more and more difficult.
The decision was made because electric bikes and scooters are good for the environment but it also a booming environment. The global electric scooter market size was estimated at USD 33.72 billion dollars in 2022 and is expected to hit around 88.75 billion this year. This is a compound annual growth rate of 10.16% from 2022-2023. The global sales of electric bikes and scooters are expected to reach 129 million by the year 2028. As you can see the numbers alone do the talking. We are excited for this opportunity to get into a clearly growing part of the industry.
We will begin selling domestically, particularly in places with bigger, crowded states like Massachusetts, California, Florida, Chicago, New York to say a few and then spread to international sales focusing on Europe where there is also a demand for e scooters and bikes. The shift towards electric cars, bikes and scooters is not only good for the environment, but in a world where we are all looking for ways to save money the electric bikes and scooters is the way to go. Cars can be money pits for people who are struggling to make it. Between gas prices, rent prices and everything else becoming more and more expensive having an electric bike or scooter could be the answer or one of the answers for some families and customers. Electric bikes and scooters can also save commuters times and aggravation. Our move into the electric bike and scooter market will help diversify and fill a missing gap in the automotive industry. By allowing our customers more cheaper options that also our environmentally friendly we are doing our part to help our customers save money and skip the heavy traffic. In a world where buying groceries is becoming more and more expensive alternative electric options are becoming more and more popular and affordable. With opportunities to enter the e scooter and bike market all around the world, our company is excited to enter a strong and booming industry.
