5 Best Budget Electric Bikes in 2024

Looking for a quality electric bike at a low cost? You’re in the right place. After all, even the best budget electric bikes still offer a premium riding experience. Minus the premium price tag, of course. You just need to know how to separate the cheap knockoffs from the real deals.

To help you secure the perfect ride for less, here are the 5 best budget electric bikes in 2024.

1. Best Folding Fat eBike Under $1000 – Mars 2.0
2. Best Budget Cargo Electric Bike – Hauler
3. Best Value Carbon Fiber eBike – HERO
4. Best Budget Full Suspension eBike – Horizon
5. Best Budget Folding Step-Thru eBike – Ranger S

1. Best Folding Fat eBike Under $1000 – Mars 2.0

Folding eBikes have a unique functionality, a latch in the middle of the frame. By unlocking the latch, you can fold the frame in half sideways. This lets you store the bike in places you could not before. For example, in the back of a car or a storage locker. Also, folding eBikes usually have compact frames, making them incredibly nimble.

For the most affordable folding fat eBike, look no further than the Heybike Mars 2.0. An upgraded version of the original, the Mars 2.0 has a 1000w brushless hub motor and hydraulic disc brakes.

Despite the compact frame and folding mechanism, the fat tires and front fork suspension lets you tackle light off-road trails. Best of all? The 45-mile travel range will take you far.

Key Specs

• Price: $999
• Top speed: 32 mph
• Range: 45 miles
• Payload: 330 lbs
• Motor: 1000w brushless hub motor (peak 1800w), 100Nm torque
• Pedal Assist (PAS) modes: 0-5

Reasons to Buy

• Low cost
• Compact design
• Fast performanc

2. Best Budget Cargo Electric Bike – Hauler

Cargo eBikes are known for their high payload capacity and versatile storage, of which the Heybike Hauler is no exception. With a 440 lbs total payload capacity, the Hauler is our most capable eBike to date. You can use it to transport groceries, delivery items, and even small children.

Another innovative feature is the do-it-yourself (DIY) peg board. Located on the back frame, the peg board has slots on both sides, which lets you attach clips, bottle holders, and other compatible accessories. For example, you can store your bike lock on the peg board. What’s more, you can attach a front or rear basket to the frame, further increasing storage.

Best of all? The Heybike Hauler is a dual-battery system. By attaching two batteries to the frame, you can travel up to 85 miles on a single charge. If you’re a delivery driver, a dual-battery system is a great way to make more deliveries in less time. Of course, there is also a single-battery version at a reduced price.

Key Specs

• Price: $1399
• Top speed: 28 mph
• Range: 55 miles (single battery) or 85 miles (dual battery)
• Payload: 440 lbs
• Motor: 750w hub motor (peak 1400w) 80Nm torque
• Pedal Assist (PAS) modes: 0-5

Reasons to Buy

• High payload capacity
• Long-distance dual battery
• Innovative storage

3. Best Value Carbon Fiber eBike – HERO

Most electric bikes are made of aluminum, and for good reason. The material is strong, lightweight, and affordable. But it is not the only material that eBike manufacturers are using.

In many regards, carbon fiber has the edge over other materials. Aside from being lighter than aluminum, carbon fiber has vibration-dampening qualities for a smoother rider. It is highly resistant rust and corrosion. And a UV-resistant finish can help prevent damage from sunlight.

Released earlier this year, the Heybike HERO is our first carbon fiber electric bike. On its own, the T800 carbon fiber frame weighs only 2.8kg and is 36% lighter than aluminum. The full suspension and 26”x4” fat tires ensure a comfortable ride on the roughest surfaces. Plus, the Shimano 9-speed gear system keeps at pace during steep ascents and descents.

The HERO is available in two versions. The 750w mid-drive motor version has a torque sensor, which senses pedal assist to translate motor power. Meanwhile, the 1000w rear hub motor has more weight in the rear wheel and a lower torque output. Both versions have a 400 lbs payload capacity and a 60-mile travel range.

Key Specs

• Price: $2599
• Top speed: 35 mph
• Range: 60 miles
• Payload: 400 lbs
• Motor: 750w mid-drive motor (peak 1800w) 160Nm torque, or 1000w rear hub motor (peak 1400w) 100Nm torque
• Pedal Assist (PAS) modes: 0-5

Reasons to Buy

• 10-year warranty
• Powerful mid-drive motor
• Lightweight carbon fiber frame

4. Best Budget Full Suspension eBike – Horizon

Full-suspension eBikes provide the ultimate off-road experience. Along with extra fat tires and front fork suspension, they also have rear suspension. This helps reduce force transfer from the point of impact to the saddle, keeping you comfortable while seated.

The Heybike Horizon, with durable horst-link suspension, easily absorbs bumps on uneven surfaces. Whether you are riding on loose gravel, mud, sand, or snow, it doesn’t matter. The Horizon supports you wherever you go. Plus, the 24”x4” fat tires provide unparalleled traction, keeping you stable and in control.
Another bonus point for the Horizon is the compact folding design. Simply fold it, store it, and unfold it to use again. Too easy.

Key Specs

• Price: $1499
• Top speed: 28 mph
• Range: 55 miles
• Payload: 330 lbs
• Motor: 750w hub motor (peak 1400w), 80Nm torque
• Pedal Assist (PAS) modes: 0-5

Reasons to Buy

• Comfortable ride
• Stylish design
• Off-road versatility

5. Best Budget Folding Step-Thru eBike – Ranger S

A step-through electric bike for adults makes riding accessible to more people. They have either a downward-sloping tube or no tube at all. This design makes it easier to mount and unmount the saddle – especially for female riders. Also, the lack of a horizontal top bar gives the bike a stylish, elegant appearance.

With a compact, step-through frame and folding mechanism, the Heybike Ranger S is ideal for urban commuting. Equipped with a 750w or 1000w hub motor, the Ranger S is quick enough to reach 28 or 32 mph. And the 692Wh battery capacity can go up to 55 miles on a single charge.

Despite the frame size, the Ranger S has a high payload capacity. 400 lbs, to be exact. You can also attach a front or rear basket to the frame. This way, you can transport groceries, school supplies, delivery items, and more. If you want to make extra cash on the side as a delivery rider, the Ranger S is a great companion.

Key Specs

• Price: $1299
• Top speed: 28 mph (750w) or 32 mph (1000w)
• Range: 55 miles
• Payload: 400 lbs
• Motor: 750w hub motor (peak 1400w) 80Nm torque, or 1000w hub motor (peak 1800w) 100Nm torque
• Pedal Assist (PAS) modes: 0-5

Reasons to Buy

• Accessible frame style
• Long-distance range
• Versatile fat tires

Explore: Best Folding Electric Bikes of 2024

Discover the Best Budget Electric Bikes

And there you have it. Those are the 5 best budget electric bikes in 2024. Whether you are after an off-road beast or an urban commuter, there is no shortage of reasonably priced electric bikes. You just need to do your research.

Fortunately, you have already done the hard work by reading this article, so the next step is to choose. Explore the full electric bike range today.