New Way Innovation is Looking to Break Into the E-Bike Industry
There are over 1 billion bikes in the world and according to a recent study by Portland State University, 21.3% of the 1,784 people they surveyed have switched from a regular bike to an e-bike. E-bikes (electric bikes) are bicycles that have been integrated with an electric motor that can be used to propel.
The e-bike industry is expected to be valued at around $23 billion by 2025, which is why serial entrepreneurs Bryce Killibrew and Willie Alexander are trying to break into the industry. Through their company New Way Innovation, these two young men are currently working on a e-bike prototype, which they’ve named Gz E-Bike, named after their generation, Gen Z.
Although the industry is expected to boom, less than 35% of Americans have ridden an e-bike, according to the League of American Bicyclists. Killibrew and Alexander know this, which is why they are doing all that they can to be one of the first to excell in this industry.
Willie Alexander. (Picture by Nyesha Stone)
“This industry is fresh and it’s kind of benefitting us in a way,” Alexander said.
When Killibrew and Alexander were introduced to the world of e-bikes, they were immediately intrigued. But, before going full fledge with the idea, the men did their research. They not only researched e-bikes, but traditional bikes, manufacturing, the legal side of things and more.
According to the men, the way people travel is changing. They are looking to market to people who have to go places that are too far to walk, but also too close to drive to. Their target market is Gen Z and Gen Alpha.
“People are aware of the transition society is making. Everything is technology driven,” Killibrew said.
Along with providing an alternative way to travel, the men made it very clear that this is about bringing people together.
“We have a vision of seeing everyone riding bikes, having fun [and] shaking hands,” Alexander said.
“It’s the simple things that can connect you to one person,” Killibrew added.
Even with their focus on e-bikes, Killibrew and Alexander plan on being innovators of many things, which is the reason their company is New Way Innovation and not New Way Bike.
Bryce Killibrew. (Picture provided by Bryce Killibrew)
This isn’t Killibrew and Alexander’s first business endeavor, but it is their first one that could make them millionaires.
As many know, being an entrepreneur isn’t easy, but they always have one another to motivate each other.
“Even the negative we see motivates us,” Alexander said. “Our vision…we can really see it in our mind.”
“Knowing where you’re at and where you going is big,” he added.
“We’re building an empire and we understand that takes a lot of strategic planning”, said Killibrew. “We really want to take our time.”
As two young Black men under the age of 22, Killibrew and Alexander want to show people who look like them that they can make it in an industry that only has 3% Black men in it.
“Don’t get too comfortable. Do stuff that will make you uncomfortable, so you can grow,” Killibrew said.
“Stay curious. You have to be willing to learn every single day,” said Alexander.
To find out more about New Way Innovation contact them via email at newwayinnovation05@gmail.com.