VANCOUVER, British Columbia--(BUSINESS WIRE)--ENVO Drive Systems, a BC-based engineering firm focused on electric mobility, today announced that the firm’s inventory levels are among the highest in Canada – the result of sophisticated in-house engineering and future-proof vision.
The robust multi-level production platform based on cost-effectiveness and complexity helped the hard-working team at ENVO to assemble products in-house while ensuring 100 percent quality control checks and guaranteeing customer satisfaction. By investing into in-house engineering, ENVO managed the manufacturing cost at a low level, rather than paying the catalogue price which includes manufacturers’ overhead and profit margins. ENVO also has the distinction of being awarded the first UL 2849 Electric Bike Certificate in Canada for its Lynx-20 foldable electric bike and is working towards certification of more products in the future.
Ali Kazemkhani, chief executive officer at ENVO, said, “The adoption of alternative fuel vehicles continues to increase in popularity, especially with gas prices hitting a record high across the country. We are proud to announce that our forward-thinking team has been successful in developing an excellent inventory for our dealers’ distributions, as well as feeding products into Costco and EBikeBC, which makes ENVO rank among the highest level of e-bike inventory in the country.”
While the big names are reluctant to make a change in their supply chain due to the scale, ENVO’s sophisticated in-house engineering allows it to do business with several manufacturers and vendors simultaneously in different geographies to ensure the products are delivered on time. Between unparalleled inventory to meet the rising market demand and a reputation for outstanding quality assurance, ENVO has a distinct advantage that bike shops and consumers are taking note of.
ENVO believes the pedal-assisted e-bike market will continue to grow across the globe this year with an expected 12%-14% growth rate and the North American market will contribute the most. “The Canadian pedal-assisted e-bike market experienced drastic growth to approximately 300m CAD in 2021, which is 15 times more than in 2017. Meanwhile, the U.S. pedal e-bike market is increased by 9-fold from 2017 to 2021, reaching $1b USD. The rapid growth of the Canadian market makes it 25% of the U.S. market size now. We believe that the paradigm shift of Canadian consumers in choices and awareness will continue to grow the e-bike market by 20% - 30% YoY in 2022,” said Kazemkhani. “We are on the path to being one of the key players in the Canadian market, with 5% market share in 2022.”
Kazemkhani adds, “None of these happened by accident. We all know that when supply meets demand, everybody wins, but that’s often much easier said than done. ENVO worked hard to build a robust supply chain to ensure abundant inventory for local dealers, backed by sustainable engineering, design, high-quality components and features that the buyers want.”
The team at ENVO understands that consistent and reliable supply is crucial to dealers, and that puts a top-quality, safe e-bike right into the hands of customers to enjoy. From the manufacturer to the dealers to the customers, everybody wins.
For more information on the company and its operations, please visit: https://envodrive.com/
About ENVO
ENVO Drive Systems is an innovative Canadian engineering company with a focus on evolving electric mobility to offset the impact of fossil fuels on our planet. With a vision to be the preferred e-mobility choice for the sustainable future of our planet, ENVO will continue to offer well-engineered, easy to maintain, modern and reasonably priced, clean energy e-mobility solutions for road, snow or water.
There are over 12,000 riders in the ENVO community, collectively saving over 85 million KGs of CO2 every year by opting for clean energy instead of using fossil fuels. ENVO is participating in the global commitment to cleaner air and reduced greenhouse emissions.
ENVO is committed to electric mobility. #ENVOLUTION
