The time to switch from the internal combustion engine to an electric motor is nigh, according to e-bike firm Ultra Motor.
According to reports, petrol prices are in line to rise by three per cent – to 125p per litre – by August Bank Holiday. The AA's Paul Watters claims this is a 14p increase on August last year.
“There has never been a better time to switch to electric two wheels," declared Ultra Motor UK MD Mark Loveridge. "You become free from traffic, parking woes and have the independence to go where you want, when you want, at a much lower cost."
Ultra Motor has looked at the average cost of running a frugal car (delivering 40 miles per gallon) that covers 12,000 miles per year. With an annual fuel cost of circa £1,400, insurance at £400, vehicle excise duty at £120, servicing at £100, tyres at £100 and depreciation (anywhere between £500 to £4,000) drivers could be paying upwards of £2,600 per year to run a small car.
The comparative cost of running an electric bike is far lower. Running an electric bike per mile (electricity only) is about £0.00175 according to Ultra Motor figures. Even if used only for the commute, 250 days a year at 20 miles a day, the increase in electricity bill would be £8.75. When the cost of buying a top of the range electric bike at £2,000, estimated costs are likely to be £2,209 in year one, then £209 in year two.
Loveridge added: "It's a far more sustainable way to travel and the electric assistance helps you up hills and against headwinds, ensuring you don't arrive hot and sweaty. Finally, it's great fun and you do get some exercise too."