After Tesla, the surprising next best-selling electric vehicle in America is this electric bike
In a world where electric vehicles are becoming increasingly popular, it’s no surprise that the Tesla Model Y and Model 3 are the best-selling EVs in the United States. But what if I told you that the third best-selling electric vehicle in America isn’t a car at all? It’s actually an electric bike!
Yes, you read that right. The Lectric XP 3.0 e-bike is the surprising champion that’s secured its place as the third best-selling EV in the nation.
And to be honest, it’s not even close. As the company explained, “In 2023, Lectric helped electrify more Americans than Ford, Volkswagen, Hyundai, Rivian, Lucid, BMW, and Porsche combined.”
That might sound surprising, but those in the e-bike industry will likely already know that the Lectric XP 3.0 has been a runaway success. While the company doesn’t list exact sales figures, we know that its best-selling model, the XP 3.0, handily secured the spot of third best-selling EV in the US. And of course its significantly more affordable price of just $999 didn’t hurt its placement on the list, either.
“Lectric eBikes is one of the fastest-growing electric bike companies in America, selling more than 400,000 eBikes in its first 4 years,” the company continued. “Most of this growth is powered by the success of Lectric’s most popular electric bike, the Lectric XP, which is the third most popular EV in America behind only the Tesla Model 3 and Model Y.”
Third best-selling electric vehicle in the US is an e-bike
The Tesla Model Y and Model 3 took the two top spots for 2023 at 394,497 and 220,910 units sold, respectively. And while we don’t know exactly how many XP 3.0 electric bikes were sold last year due to Lectric being a private public, it was likely in the high five figures. Lectric’s total of over 400,000 sales from 2019 to 2023 includes its first year with minimal numbers while it was still ramping up production. Those sales figures also include several other models from Lectric, though the XP 3.0 is by far the company’s biggest mover.
For comparison, the fourth spot on the list of best-selling EVs in the US, the Chevy Bolt EV/EUV, sold just over 62,045 units in 2023.
The rise of the Lectric XP 3.0
The Lectric XP 3.0 has quickly become a favorite among Americans, thanks to its impressive features and affordable price point. The folding fat tire e-bike offers a unique combination of power, versatility, and convenience, making it an ideal choice for urban commuters and outdoor enthusiasts alike.
With its 500W motor (outputting closer to 1,000W peak), multiple battery size options, and fat tire design, the Lectric XP 3.0 is well-equipped to handle a variety of terrains and riding conditions.
Why the Lectric XP 3.0 is outselling traditional EVs
Several factors likely contributed to the Lectric XP 3.0’s unexpected rise to the top of the EV charts. First and foremost, its affordability sets it apart from its four-wheeled counterparts. While a new Tesla will set you back tens of thousands of dollars, the $999 Lectric XP 3.0 comes in at a fraction of the cost, making it accessible to a wider range of consumers.
Additionally, the convenience and versatility of electric bikes make them an attractive option for many. The Lectric XP 3.0’s folding design allows for easy storage and transport, making it perfect for city dwellers with limited space. Its ability to tackle both urban streets and off-road trails adds to its appeal, providing riders with a flexible and enjoyable mode of transportation.
The last several years have seen an increasing number of drivers becoming riders as e-bikes have grown in popularity as car alternatives. While some commuters have completely gotten rid of their cars in favor of e-bikes, many more have found that an e-bike can be a great supplement to a car, replacing it for common local trips. That leaves the car for longer journeys or situations with more passengers or cargo needs. Though there too, cargo variants of the Lectric XP 3.0 with a rear passenger bench or cargo baskets have proven popular for both roles.
The environmental impact
Another significant factor driving the popularity of the Lectric XP 3.0 is its positive environmental impact. As more people become conscious of their carbon footprint, electric bikes offer a greener alternative to traditional cars and motorcycles.
By choosing an e-bike, drivers who become riders can reduce their reliance on fossil fuels and contribute to a more sustainable future.
A new era of transportation
The success of the Lectric XP 3.0 and the growth of e-bikes as a whole signifies a shift in the way Americans view transportation. Sure, it may only be a game of catchup to Europe and Asia, but just because America is late to the game doesn’t make it any less important.
As urban centers become more congested and the demand for eco-friendly alternatives grows, electric bikes are poised to play a crucial role in the future of mobility. The Lectric XP 3.0’s impressive sales figures are a testament to the growing acceptance and enthusiasm for this mode of transport.
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According to a Tesla Semi customer, the electric truck program is suffering more delays and a price increase that is described as “dramatic.”
Tesla Semi has seen many delays, more than any other vehicle program at Tesla.
It was initially unveiled in 2017, and CEO Elon Musk claimed that it would go into production in 2019.
In late 2022, Tesla held an event where it unveiled the “production version” of the Tesla Semi and delivered the first few units to a “customer-partner”: PepsiCo.
More than 3 years later, the vehicle never went into volume production. Instead, Tesla only ran a very low volume pilot production at a factory in Nevada and only delivered a few dozen trucks to customers as part of test programs.
But Tesla promised that things would finally happen for the Tesla Semi this year.
Tesla has been building a new high-volume production factory specifically for the Tesla Semi program in a new building next to Gigafactory Nevada.
The goal was to start production in 2025, start customer deliveries, and ramp up to 50,000 trucks yearly.
Now, Ryder, a large transportation company and early customer-partner in Tesla’s semi truck program, is talking about further delays. The company also refers to a significant price increase.
California’s Mobile Source Air Pollution Reduction Review Committee (MSRC) awarded Ryder funding for a project to deploy Tesla Semi trucks and Megachargers at two of its facilities in the state.
Ryder had previously asked for extensions amid the delays in the Tesla Semi program.
In a new letter sent to MSRC last week and obtained by Electrek, Ryder asked the agency for another 28-month delay. The letter references delays in “Tesla product design, vehicle production” and it mentions “dramatic changes to the Tesla product economics”:
This extension is needed due to delays in Tesla product design, vehicle production and dramatic changes to the Tesla product economics. These delays have caused us to reevaluate the current Ryder fleet in the area.
The logistics company now says it plans to “deploy 18 Tesla Semi vehicles by June 2026.”
The reference to “dramatic changes to the Tesla product economics” points to a significant price increase for the Tesla Semi, which further communication with MSRC confirms.
In the agenda of a meeting to discuss the extension and changes to the project yesterday, MSRC confirms that the project went from 42 to 18 Tesla Semi trucks while the project commitment is not changing:
Ryder has indicated that their electric tractor manufacturer partner, Tesla, has experienced continued delays in product design and production. There have also been dramatic changes to the product economics. Ryder requests to reduce the number of vehicles from 42 to 18, stating that this would maintain their $7.5 million private match commitment.
In addition to the electric trucks, the project originally involved installing two integrated power centers and four Tesla Megachargers, split between two locations. Ryder is also looking to now install 3 Megachargers per location for a total of 6 instead of 4.
The project changes also mention that “Ryder states that Tesla now requires 600kW chargers rather than the 750kW units originally engineered.”
Tesla Semi Price
When originally unveiling the Tesla Semi in 2017, the automaker mentioned prices of $150,000 for a 300-mile range truck and $180,000 for the 500-mile version. Tesla also took orders for a “Founder’s Series Semi” at $200,000.
However, Tesla didn’t update the prices when launching the “production version” of the truck in late 2023. Price increases have been speculated, but the company has never confirmed them.
New diesel-powered Class 8 semi trucks in the US today often range between $150,000 and $220,000.
The combination of a reasonable purchase price and low operation costs, thanks to cheaper electric rates than diesel, made the Tesla Semi a potentially revolutionary product to reduce the overall costs of operation in trucking while reducing emissions.
However, Ryder now points to a “dramatic” price increase for the Tesla Semi.
What is the cost of a Tesla Semi electric truck now?
Electrek’s Take
As I have often stated, Tesla Semi is the vehicle program I am most excited about at Tesla right now.
If Tesla can produce class 8 trucks capable of moving cargo of similar weight as diesel trucks over 500 miles on a single charge in high volume at a reasonable price point, they have a revolutionary product on their hands.
But the reasonable price part is now being questioned.
After reading the communications between Ryder and MSRC, while not clear, it looks like the program could be interpreted as MSRC covering the costs of installing the charging stations while Ryder committed $7.5 million to buying the trucks.
The math makes sense for the original funding request since $7.5 million divided by 42 trucks results in around $180,000 per truck — what Tesla first quoted for the 500-mile Tesla Semi truck.
Now, with just 18 trucks, it would point to a price of $415,000 per Tesla Semi truck. It’s possible that some of Ryder’s commitment could also go to an increase in Megacharger prices – either per charger or due to the two additional chargers. MSRC said that they don’t give more money when prices go up after an extension.
I wouldn’t be surprised if the 500-mile Tesla Semi ends up costing $350,000 to $400,000.
If that’s the case, Tesla Semi is impressive, but it won’t be the revolutionary product that will change the trucking industry.
It will need to be closer to $250,000-$300,000 to have a significant impact, which is not impossible with higher-volume production but would be difficult.
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