Fly-E Group, Inc., the maker of electric bikes, scooters, motorcycles and accessories, joined that elite club, with chairperson and CEO Andy Ou ringing the closing bell Wednesday. The gesture celebrated a successful startup that completed its initial public offering last week.
It also comes at a time when the electric bike, scooter and motorcycle market is taking off. The global electric scooter market had a value of $24.67 billion last year and is predicted to reach $50.78 billion by 2032. Driving adoption is a push by governments around the world to curb emissions. With cities getting more crowded, hopping on an e-scooter or bike is not only greener, but a quick and easy way to get around.
