Strengthening Personal Mobility with Customized Products Following Road Traffic Act Amendments
On the 24th, when most regions nationwide experienced clear and mild weather, citizens are enjoying their time at Mangwon Hangang Park in Mapo-gu, Seoul. Photo by Mun Ho-nam munonam@
[Asia Economy Reporter Kim Heeyoon] The bicycle industry, which gained attention due to the popularity of contactless sports amid the prolonged COVID-19 pandemic, is expected to continue its growth this year based on new mobility businesses.
According to industry sources on the 21st, the mobility industry, including electric bicycles, is steadily growing. A report from the KIST Technology Policy Research Institute predicts that the global electric bicycle market will grow at an average annual rate of 9.00%.
In particular, the market size, which was $21.1 billion (approximately 24 trillion KRW) in 2018, is expected to expand to $38.6 billion (approximately 44 trillion KRW) by 2023. Industry insiders analyzed that the demand for contactless sports due to the prolonged COVID-19 pandemic and the growing global interest in environmentally friendly transportation methods have continuously driven interest in electric bicycles.
Samchuly Bicycle Announces Plan to Lead Personal Mobility with 110 New Product Launches
Samchuly Bicycle previously announced that it would lead personal mobility trends this year through various product upgrades. This year alone, it plans to launch a total of 110 new products, including 17 electric bicycle models such as the new 'Phantom Q SF' and 93 regular bicycle models.
In particular, Samchuly Bicycle revealed a strategy to lead industry trends by expanding throttle-type electric bicycles that can be ridden on bicycle roads in accordance with the normalization of personal mobility and amendments to the Road Traffic Act, enhancing product completeness through improved braking power, and expanding the personal mobility lineup.
Additionally, the company enhanced the braking performance of electric bicycles to improve product completeness. They explained that all products in the Phantom line are equipped with a brake motor power cut-off sensor, which cuts off the motor power simultaneously when braking.
A representative from Samchuly Bicycle said, “We will continue our efforts to diversify marketing for the electric bicycle brand 'Phantom (PHANTOM)' to lead the increasingly normalized personal mobility trend.”
Alton Sports Enhances Personal Mobility Convenience by Expanding Throttle Application
Alton Sports announced on the 21st that it has significantly expanded the application of throttle systems centered on new products in 2021 in response to market and policy changes. Previously, a total of 12 products, including the new 'Nemo FD Edition' and the steady seller 'Nemo 27.5,' were released with throttle systems.
On the 18th, they launched 'Nemo FD Plus 2,' a new product under the electric bicycle brand 'e-Alton.' Nemo FD Plus 2 is a product that further enhances riding convenience from the foldable electric bicycle 'Nemo FD,' which has been much loved among Alton Sports' electric bicycles.
The front wheel is newly equipped with a suspension fork that absorbs road shocks to reduce wrist fatigue and provide a comfortable ride. The brakes have been upgraded from mechanical disc brakes to hydraulic disc brakes to improve riding convenience. This allows quick and powerful braking with minimal hand grip force. The battery comes standard with a 5Ah compact external battery used in previous models, and a 7Ah capacity battery option is available for longer rides.
An Alton Sports representative explained, “Due to the decrease in public transportation use caused by COVID-19, demand for personal mobility is increasing, leading to growing interest in electric bicycles. Leveraging the advantage of owning its own factory, we contribute to improving mobility convenience in the contactless era by supplying 15,000 bicycles to Seoul City and Kakao Mobility.”
Meanwhile, benefiting from favorable market conditions, Alton Sports announced on the 3rd that its 2020 sales reached 43.6 billion KRW, with an operating profit of 5.9 billion KRW. Industry insiders predict that the upcoming audit report, scheduled for release in March, may indicate Alton Sports' potential removal from the management watchlist.
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