Moment is now for Zen Electric Bikes

Until two weeks ago, Ravi Kempaiah had since 2016 been the world record holder for the longest journey on an e-bike, travelling 8,207 kilometres in 34 days at a cost of $6 in electricity. 

As the CEO and co-founder of Zen Electric Bikes, headquartered in Dartmouth, Kempaiah would be happier these days to set sales records. That’ll take longer than 34 days but so far, so good. 

“We are getting traction from local customers, and also a lot of people in the U.S.,” Kempaiah said. “Some of our products retail for $8,000-$9,000, premium, really high-end bikes, and we’re beginning to see orders coming from California, Florida, all over the U.S.” 

The first cheques from investors arrived in January, at which point the company began ordering parts from vendors in Canada, Norway, Germany, Taiwan and the U.S. Frames that come from Taiwan are powder coated in Dartmouth, and all assembly is done on site. Twenty frames for premium bikes arrived in May, then hundreds more showed up last month. 

“Given the supply chain restraints around the world, and shipping and fuel prices, all of that, we still are able to deliver bikes on time,” said Kempaiah. “The products that we promised, we are able to get out, and we have done close to half a million in revenue in just eight months of operations. We are hoping to hit one million by February 2023, that’s the plan.” 

Kempaiah said even though fuel surcharges have eased somewhat, the supply chain continues to be an issue.  

“What used to cost me $6,000 for a container now costs $24,000,” he said. “This really shows how much we are dependent on Asia for manufacturing. When we tell them that we are hand building these bikes here, our customers feel an extra level of interest. When things are made here in Nova Scotia, employing Nova Scotians, it’s a big deal.” 

With the help of “amazing” advisors and investors, Kempaiah said the market is recognizing the quality of the Zen product. Two years from now, he projects $8 million in annual revenue. 

“This year, it is a bit of advanced user, someone with a disposable income, with some experience with e-bikes and tech savvy. But for next year, we’ll be releasing more affordable models, something they can get for $2,500, and in Nova Scotia you get a $500 rebate. At that point, people are thinking they can get exercise, do their commute, reduce their carbon footprint, for less than two grand,” said Kempaiah, pointing out that parking permits at Dalhousie are $900. “I think when we build that bike for 25-hundred, that’s when we’ll see massive numbers.” 

Zen projects that at full production, 60 to 80 per cent of sales will be to the U.S. Right now, the company is assembling one bike a day, but that will soon double. The current roster of six employees will grow to 30 in two years. 

The initial model, the Samurai, comes with a choice of three suspensions and three base colours, plus custom choices. Bosch builds the motors and batteries. 

A prototype of the next model, scheduled to be available in March, is on the workshop floor. 

The Samurai can deliver 120 kilometres on a charge at a cost of less than 20 cents in electricity to recharge, which translates to $4-$5 per year for the average user. 

“That’s why the market is exploding, even at $5,000 for an e-bike.” 

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