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Buy an electric bike, and start saving money.

April 20, 2023 3 min read

Buy an electric bike, and start saving money. 

Whether you are in the market for a new car, tired of unreliable public transport, or already considering an electric bike - this blog will offer some insights into why an electric bike is a great option. Electric bikes, both for cargo and commuting, have the ability to shrink commute times and flatten hills, making it easier for people to get around without having to rely on a car or public transport. But what about the cost? How much money could you be saving by adding an electric bike to your transport arsenal?

The humble electric bike vs. public transport.

With the half price initiative about to conclude for public transport, a 2 zone fare in Wellington for one full work week amounts to about $30 a week, and if you’re a family, that figure easily multiplies. Whereas charging an electric bike in the heaviest use case scenario - riding so much that you fully drain the 500 watt-hour battery 365 days a year in New Zealand, would cost little over $40 a year! 

An electric bike vs. an EV.

The cost of an EV, even with the rebate taken into consideration, still puts this option out of reach for most earners. With new electric vehicles coming in between $30,000 - $90,000, this makes the humble Yuba Spicy Curry cargo bike coming in at $8,995 look very economical. With an EV you also need to consider the ongoing running costs at approximately $17 per full charge compared to just $0.17 per charge for the ebike.  While there is a regular servicing and maintenance cost on an ebike, so there is on an EV, in addition to Insurance and registration costs.  This is all before we talk about the cost of parking: for example, Wilson parking in Wellington - even with early-bird pricing, is $17 per day!

It’s just easier - Time is valuable

An e-bike, especially today’s cargo variety, are truly a 'second car' replacement and for many individuals and families a primary car replacement.  E-bikes are a far more convenient, economical and expedient choice than a car for daily urban commuting and running errands. Cargo e-bikes are highly capable and carry a considerable amount of cargo. They’re ideal for grocery shopping, commuting to work, and transporting kids to school. 

Ebikes don’t take you carpark to carpark or bus-stop to bus-stop, they take you door to door with all your gear. You will enjoy VIP parking everywhere you go, avoid traffic, and get exercise while getting stuff done!

Ebikes save you both time and money as compared to both public transport and electric vehicle ownership.  If you’re considering that second car, electric vehicle or a shift from relying on public transport then maybe it’s time to come try some Ebikes. It may just save you some money and you may just love it.

References

Snapper Adult 2 zone fare return - $3.02 per trip, 5 days a week.

Charging an Electric bike in New Zealand.

  • $0.1060 - $0.1667 per full charge for a standard 500wh battery = $3.18 - $4.9 per month.

  • Year over year $38.16 - $56.4.

  • Based on average NZ price cost at 20.9c to casual rates at 33.5c per kWh as at January 2024.

  • Calculate your own - 0.4824 kWh x ___ cents/kWh = cost per full charge. Find your average kWh from your latest power bill.

Early bird parking https://www.wilsonparking.co.nz/parking-locations/wellington/te-aro/marion-street/




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