Ducati is going electric. The 93-year-old Italian motorcycle maker is displaying its new lineup of electric bikes at the New York International Motorcycle Show this month.
"We're looking at the electric bicycle as something to complement the lifestyle of existing Ducati owners," Ducati CEO of North America Jason Chinnock told Cheddar. "But we also do have a Scrambler one that's more urban oriented, so that would allow somebody that maybe's just a fan of the brand to come in and they can buy the bicycle as well."
Ducati’s e-bikes have been selling overseas since last year, but 2020 will marks its first time selling the products stateside. The E-Scrambler model will start at around $4,000 and other models will go up to about $7,000.
2020 is setting up to be a big year for the electric vehicle industry, as mainstream automakers develop new versions of iconic brands — but without the combustible engines. Ford unveiled its electric crossover, the Mach-E, and is developing dozens of other EV's. Tesla is convinced people will buy an electric pickup truck with its affordable Cybertruck. And motorcycle brands like Ducati and Harley-Davidson are working to get in on the action.
Ducati, which is owned by Lamborghini, is building several e-bike models of all kinds to cut into the growing market and appeal to a variety of interests. The E-Scrambler is for trekking, while the MIG-S and MIG-RR are for mountain biking.
While acknowledging the younger generation hasn’t been buying motorcycles at the same rate as previous generations, Chinnock says its new, sleek e-bike models may help make inroads with younger consumers, or those who have been hesitant to try motorized bikes. "It's better to have something that doesn't necessarily look like you need to be a professional to ride," he said.
According to Allied Market Research, the global electric biking industry topped $16 billion in 2017 and is expected to reach $23 billion in 2025.
Not only is Ducati offering new e-bike offerings, but it has also re-thought payment options. Chinnock is confident the monthly lease plan, which first rolled out last year, will attract more of those interested in a bike or motorcycle. "The idea is that you can have a Ducati for basically $99 per month for 2 or 3 years, and then turn it in to get something else. That makes it very appealing for someone who doesn't want to make a commitment."
Sinead O’Sullivan breaks down Taylor Swift’s genius marketing for The Life of a Showgirl, which just set the record for most albums sold in a single week.
Markets are emerging from a turbulent Q3. Horizon’s Mike Dickson shares insights on interest rates, small caps, and where investors should look in Q4 and beyond
Bambu Ventures's Kyle Pretsch dives into Lemonaid’s $10M buyout, down from 23andMe’s $400M price tag, and what’s next after Chrome Co.’s dramatic pivot.
Former Cisco Systems CEO John Chambers learned all about technology’s volatile highs and lows as a veteran of the internet’s early boom days during the late 1990s and the ensuing meltdown that followed the mania. And now he is seeing potential signs of the cycle repeating with another transformative technology in artificial intelligence. Chambers is trying take some of the lessons he learned while riding a wave that turned Cisco into the world's most valuable company in 2000 before a crash hammered its stock price and apply them as an investor in AI startups. He recently discussed AI's promise and perils during an interview with The Associated Press.
Grove Collaborative’s CEO shares how the company is reinventing everyday goods with sustainability at the core and working toward a plastic-free future.
Atlanta Mayor Andre Dickens shares plans for affordable housing, community-led growth, and why private and public grocery stores could be key to food equity.
Tesla reported a surprise increase in sales in the third quarter as the electric car maker likely benefited from a rush by consumers to take advantage of a $7,500 credit before it expired on Sept. 30. The company reported Thursday that sales in the three months through September rose 7% compared to the same period a year ago. The gain follows two quarters of steep declines as people turned off by CEO Elon Musk’s foray into right-wing politics avoided buying his company’s cars and even protested at some dealerships. Sales rose to 497,099 vehicles, compared with 462,890 in the same period last year.
