Upway aims to revolutionize the used e-bike market in the U.S., positioning itself as a trusted platform for refurbished electric bikes. Its launch of physical locations in L.A. and Brooklyn allows prospective riders to test bikes before purchase. The company sees a significant opportunity in communities lacking electric mobility options, intending to make quality used e-bikes accessible. Upway offers warranties and assures quality, countering the risks associated with peer-to-peer sales in the current used bike market. The e-bike industry has seen a persistent increase in sales since the pandemic, surpassing sales of electric cars.
"The goal is not just to become the clear leader of the e-bike reselling, but [to be] the company that sells the largest amount of e-bikes in the U.S. - plus Europe."
"Since the pandemic first unleashed a biking boom that has yet to slow down, even pricey new e-bikes have been outselling electric cars in the U.S."
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