London-based Brompton invested heavily in 2016 developing an electric bike with Formula One group Williams, renting a new factory and investing in a New York office.
Managing Director Will Butler-Adams said he hoped the launch of the electric bike at the end of 2017 would kickstart sales, especially in northern Europe. In Germany, the electric bike market has ballooned from about €20m (£17m) 12 years ago to €1.2bn. “We don’t have an electric bike and so we are missing out on that,” Butler-Adams said.
The bike has taken four years to develop, but Butler-Adams said it was “monstrously unique” because the folding model had to be light, compact and simple.
Source: The Guardian