Lithuania’s Baltik Vairas pins growth hopes on e-bikes

The chief executive officer of Lithuania’s bicycle manufacturer Baltik Vairas, which sells 95 percent of its products to the Netherlands and Germany, believes that the future belongs to electric bikes, the online news site has reported, citing LETA/BNS.

Zilvinas Dubosas says his company focuses on exports, because Lithuania has no bicycle infrastructure. 

“Conventional bicycle sales are stable, but we (…) are planning to grow through electric bikes. E-bike sales have been growing at a very fast rate lately,” he told the website.  

According to the CEO, one in two bicycles sold in the Netherlands and one in three in Germany are electrically powered. 

Other countries are lagging behind, but they are seeing robust growth in e-bike sales, too. Some states offer incentives for those who purchase environmentally-friendly means of transport, he noted. 

Baltik Vairas has been 50-50% owned by Denmark’s Asgaard A/S and the Baltic investment company LitCapital since 2013.

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