Portugal it flies by bicycle to become the first European manufacturer, with more than 2.5 million units of two wheels produced.
Thanks to the strategic weight of the Águeda (Aveiro) business cluster in the center of the country, Portugal surpasses Italy, Germany, Poland and the Netherlands in the manufacture of both electric and traditional bicycles. according to official data published by Eurostat.
“The company in 2018 had a turnover of about 3 million euros, in 2019 it had a turnover of 50 million euros, a spectacular growth. In 2020 due to Covid-19, we lost many sales due to the lack of parts due to confinements. Our turnover reached about 36-37 million euros “, explains the InCycles Bike Group export manager, Filipe Mota.
If the parts supply problems are solved, the sector that employs 8,000 workers expects to close the year with an advance of 30% in exports of bikes, with respect to the previous year.