Electric Vehicles Update - Asia-Pacific E-Bike Market Soars with Urban Growth

The Asia-Pacific E-bike market is experiencing significant growth, projected to increase from USD 13.7 billion in 2024 to USD 19.9 billion by 2034. This expansion is driven by rapid urbanization in countries like India, China, and Thailand, where e-bikes provide an eco-friendly solution to traffic congestion and offer low operational costs. The demand for electric cargo bikes and various government incentives is also contributing to the market's growth. China's dominance, backed by an 84% market share, is fueled by its focus on innovation, large-scale production, and global exports. The prevalence of lithium-ion battery technology further supports this market's progression, driven by its benefits like higher energy density and longer lifespan.

Elsewhere in the market, Dongfeng Motor Group (SEHK:489) was a notable mover up 8.5% and ending trading at HK$5.97. Meanwhile, Lucid Group (NasdaqGS:LCID) trailed, down 3.1% to close at $2.18. Two days ago, Lucid unveiled its Lucid Gravity X concept SUV at Pebble Beach, showcasing enhanced off-road capabilities and sleek aesthetics.

Lucid Group's alliances with Uber, Nuro, and key suppliers position it for significant market expansion and supply chain resilience ahead of its 2026 EV platform launch. Click to explore Lucid's strategic growth narrative and the implications for potential investors.

Explore our Market Insights article titled "Opportunities In The Turbulent Transition To Greener Energy," detailing crucial investment prospects and challenges within the rapidly evolving electric vehicle sector. Act now to seize these insights!

Best EV Stocks

• BYD (SEHK:1211) closed flat at HK$112.80.
• QuantumScape (NYSE:QS) ended the day at $9.03 down 0.7%.
• Tesla (NasdaqGS:TSLA) settled at $330.56 down 1.5%.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Sources:

• Simply Wall St
• "Asia-Pacific E-bike Market Opportunity, Growth Drivers and Forecast Report 2025-2034 | China Dominates E-bike Market with 84% Share, Spearheading Innovation and Export Growth" from Research and Markets on GlobeNewswire (published 18 August 2025)

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