Accell's results came after those of two Taiwanese competitors, Giant Manufacturing and Merida Industry, which also reported a steady growth of e-bikes sales during the first six months of this year. Last May, a Giant spokesman had announced that the company expected “a continuously robust” demand for electric bikes on the European market.

Merida reported a 7.6 percent increase in revenues to 2,530 million new Taiwan dollars (€72.6m-$81.4m) in the first half of 2019. The company shipped 93,700 units of e-bikes in the first half of 2019, representing 21.2 percent of its revenues. On the other hand, Merida reported a decline in the production and shipments of traditional bicycles.

Meanwhile, Giant's revenues improved by 5.24 percent to TWD 30,680 million (€880.0m-$987.7m) for the first half of 2019. The bicycle manufacturer reported a steady demand for its products in Europe, the U.S. and China, and mentioned solid growth in electric bike sales in Germany and France.