Pedego Named Number 1 Electric Bike Brand by Navigant Research; Consumer Demand Driving Sales

Fastest Growing E-bike Company Has 85 Pedego Stores, the Most in the Industry

FOUNTAIN VALLEY, Calif., Aug. 10, 2016 — Pedego® Electric Bikes was named the Number 1 electric bike brand sold in the United States, according to a new report from Navigant Research.

Pedego was founded in 2008 by Don DiCostanzo, CEO, 59, and Terry Sherry, 60, two best friends who loved cycling but hated hills — and designed their first bike on a cocktail napkin.

See Why Pedego Is Driving the Electric Bike Craze: Test Ride a Pedego Electric Bike

Pedego is the fastest-growing electric bike company in the United States according to Navigant

• Pedego had 46 percent average growth for 2012–2015.
• Pedego has more stores than any other brand: 85 independently owned stores.
• Pedego expects to grow to 200 stores by the end of 2017 and 500 stores by 2020.
• Pedego bikes are sold throughout the United States at Pedego stores and hundreds of bike shops.
• Pedego has distributors in Europe, Canada, South Africa, New Zealand and Russia.

Putting Baby Boomers Back to Work as Entrepreneurs Selling to Other Boomers

• Ninety-five percent of Pedego store owners are Baby Boomers displaced by Corporate America or retired, who found a second career with Pedego.
• Eighty percent of Pedego buyers are Baby Boomers.
• Pedego is not a franchise, so there are no fees. $75,000 investment goes into the store.
• Pedego’s founders are Baby Boomer entrepreneurs helping other Baby Boomers become successful entrepreneurs.
• No retail or bicycle industry experience is needed by store owners to succeed.
• Pedego’s store owner training includes store set-up, inventory and sales support.

Pedego’s Market Differentiation: Pedego tagline says it all: “Hello, Fun!”

• Pedego offers 10 models of high-quality colorful bikes, including cruisers, commuters, mountain and trail bikes, cargo bike and an ingenious folding bike.
• FAST! With a twist of the throttle, Pedego riders can go up to 20 MPH.
• COLORFUL! Hundreds of color combinations let consumers customize their bikes.
• PedalSense™ technology helps give riders a little extra help riding at five different power levels.
• Pedego riders enjoy “exercise disguised as fun,” going longer, farther and faster!”

Pedego Co-Founders Don DiCostanzo and Terry Sherry

“The Pedego team is devoted to delighting their dealers and customers with the Pedego lifestyle of fun, exercise and fresh air, which has led to Pedego being the fastest-growing electric bike brand in the U.S.,” said Pedego CEO and co-founder Don DiCostanzo.

According to Navigant, electric bicycles are the highest-selling electric vehicle on the planet, with a nearly 35 million unit sales forecast worldwide for 2016. In North America, electric bikes are hitting the big-time with 152,000 units expected to be sold in 2016. Click here for Navigant’s overview on Pedego and an executive summary of the report.

Click here for Pedego Assets (Logo, Videos, Photos). See Pedego timeline.

About Pedego

Pedego Electric Bikes, the fastest growing electric bicycle company in the United States, manufactures 10 high-quality, innovative models, including cruisers, tandems, commuters, fat-tire bikes, mountain bikes, cargo bikes and a convenient electric folding bike. Sold at 85 Pedego-branded stores and hundreds of independent electric bike dealers worldwide, Pedego’s stylish “pedal or not” electric bikes boast powerful, whisper-quiet motors that let riders sail up hills and breeze through headwinds with a smile. Available in hundreds of color combinations, Pedego electric bikes deliver a green alternative for transportation, exercise and recreation — transforming lives with fun and delight.  Founded in 2008, Orange County, California-based Pedego inspires riders to say, “Hello, Fun!”