Home » 10 Personal Electric Transportation Vehicles for Modern World » 10 Best Electric Bikes in 2023 (Reviews & Specifications) Best Electric Bikes Under $500 – Cheapest & Durable



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Before going into best electric bikes under $500, let’s talk on what are electric bikes and how does they work?

What are Electric Bikes?

When someone hears the term electric bicycle, the first thing that comes to mind may be a scooter or an electric motorbike, but the two are quite different. Consider a standard bicycle, and then add various electrical components to it, such as a motor, a battery, and a controller, all of which are smoothly incorporated into the design.

Electric bikes are similar to traditional bicycles in terms of pedalling and handling. An electric bike will, for the most part, employ the same components. The electric component is supposed to supplement rather than totally replace human power.

It makes problems like slopes and headwinds easier to overcome, allowing you to travel further without becoming exhausted. Electric bikes are quickly becoming a popular mode of transportation, saving fuel, time, and money while also providing opportunities not accessible with traditional bicycles.

Here in this blog, you will find some best electric bikes under $500, that are not a burden on your pockets and also good to ride.

List Of Best Electric Bikes Under $500

Ancheer Dolphin AN-EB5

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Image Credits : Ancheer


Load Capacity Up to 120kg
Maximum Speed 15.5 mph
Range 10 to 15 miles

The ANCHEER Dolphin AN-EB5 is the best electric bike under $500 with all the features you expect. The ANCHEER Dolphin AN-EB5 Plus has 12-inch wheels, an aluminum alloy frame, a 350W hub electric motor, cruise control, twin disc brakes, battery and an IPX5 water resistance rating, among other features.

The battery charges in 3 hours, making it one of the fastest in its class. With unfolded dimensions of 41.3 x 37.8 x 19.7 inches and a weight of only 38.6 pounds , the unit is small enough to be carried around easily when needed.

Pros & Cons

Pros Cons
It has a waterproof design. In locations where the temperature is too high, the tires may blow out.
Also has the LED smart meter.
It has a long battery life.

MAcwheel LEN-16

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Image Credits: walmart


Maximum Speed 15.5
Range Upto 37 miles
Motor 250 W

This one of the best folding electric bikes features a single gear and a 250 watt brushless rear hub motor. Although it is a little bike, it can carry up to 220 pounds. The throttle even features an on/off button to prevent the throttle from being accidentally activated. When transporting the bike about, this comes in helpful.

The LNE-16 has an aircraft-grade aluminium frame with front and rear fenders, a collapsible handlebar stem, a front LED integrated light, and mechanical disc brakes.

Pros & Cons

Pros Cons
a low-cost electric bicycle The battery is not replaceable.
Motor/battery are buried in a sleek design. There is no speedometer.
Easily transportable  The seat is adjustable, but not the handlebars.

Shaofu electric bike

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Image Credits : amazon


Motor 350 W
Speed 15.5 mph
Range 15 miles

The Shaofu Folding Electric Bicycle is the third cycle in our list of best electric bikes under $500 and it’s a must say that this one is an excellent choice for anybody looking for pure convenience in an electric bike. It not only folds up fast and effortlessly, but it also takes up very little room, making it ideal for storing in the trunk of your car or beneath your desk.

They’re powered by batteries, so they’re a little bigger than a standard bicycle. However, not everyone has the necessary storage room for a full-size electric bike. If that’s the case, a foldable e-bike could be a good option for you.

Pros & Cons

Pros Cons
Design is foldable and light. Suspension is missing.
Aluminum alloy for aircraft Not recommended for harder terrain.
Waterproof Bluetooth-enabled
In around 4 hours, the battery will be fully charged

Swagtron Swagcycle EB-5

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Best for beginners

Image Credits: swagtron

What We Like

Nikon Z5 offers UHD 4K video at 30fps


Range 7-10 miles
Motor 250 W
Charging Timing 5 hours

The Swagcycle EB5 is a straightforward yet extremely practical folding Class 2 electric bike. This compact model comes completely constructed and features an easy-to-use folding mechanism.

This bike not only weighs less than the competitors, but it also folds up into a little package for travel and storage. It features a 250W rear hub motor that feels surprisingly strong, as well as a peak throttle speed of 15.5 mph and one pedal assist option.

The 270Wh battery is neatly fitted into the frame, and despite being the smallest in the test, we were astonished by its distance range. It has less stable handling as a result of its folding form and 14-inch wheels, and it rides like a glorified electric scooter. In short, it is definitely a must considered bike in the category of best electric bikes under $500.

Pros & Cons

Pros Cons
No assembly necessary There is just one pedal assist option
Lightweight The rider height range is limited.
Compact for storage and transit, integrated battery. The distance range is shorter, and the handling is less stable.

Ancheer Folding 16 inch

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Image Credits : ancheer


Motor 350 W
Charging Hours Less than 3 hours
Range 20 to 25 km

The ANCHEER Folding 16″ City Electric Bike is ideal for those who are brave enough to ride in the rain. This e-bike features IPX5 waterproof technology, making it extremely easy to maintain even in the most adverse weather situations.

This electric bike features a dolphin design and an aluminium alloy frame. It is so light that it can be carried with only one hand. It’s also tiny, so it should fit in small trunks with ease. That’s why it is considered as one of the best electric city bikes by the riders.

Pros & Cons

Pros Cons
It has a strong motor. Trekking and slopes are not recommended.
Fast charging
Lightweight and compact
Lithium ion battery that is waterproof

Goplus 20 inch

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Image Credits: walmart


Weight Capacity 178 lbs
Height of Handle 40.5 inch to 46 inch

This bike’s qualities make it ideal for short mountain treks and travel. Bring your cycling friends along for the finest mountain rides of your life on this one of the best electric bikes under $500.

This is made feasible by a few features. Its frame is composed entirely of aluminum alloy, with a heavy-duty carbon steel front fork. These guarantee that the bike is capable of taking on any obstacle that comes its way.

The Goplus Electric Bike includes a Shimano 7-speed transmission lever that allows you to change gears while riding. With a flip and fold lever, the bike’s grips and seats may be adjusted to the rider’s comfort and height levels.

Pros & Cons

Pros Cons
Excellent price/quality ratio There will be no carry-on bag.
Durable and long-lasting There are no magnetic catches.
It’s simple to fold and unfold, and it’s also simple to store. Pedals are not foldable.
Lightweight and easy to move
A smooth and relaxing ride

Nakto 26 inch

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Image Credits: amazon


Speed 18 to 25 mph
Range 28 to 35 miles
Battery 36 V

The NAKTO 26 inch Cargo Electric Bike comes with a number of features that are a great value for the money. Its sleeker form sticks out, and it also includes a rear rack. As the name implies, the ‘Cargo’ bike may assist you in transporting products from one location to another without difficulty.

The bike’s frame is built of high-strength, long-lasting carbon steel. The frame is also equipped with high comfort shock absorption. It features two brake systems and a gear shift mechanism. The front wheel is equipped with a V brake system, while the rear wheel is equipped with an expansion brake.

Pros & Cons

Pros Cons
Maximum speed and distance travelled No Waterproof facility available.
The rear rack aids in the transportation of objects. 
It is extremely safe and durable.

Emdaot 26 inch

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Image Credits: theelectricbike


Motor 250 W
Speed 15 mph
Extra LED light and Horn for night riding

If you’re looking for an electric mountain bike around $500, the Emdaot 26″ Electric Mountain Bike is the bike that is best in this feild . The general design of this bike is elegant, and there are no compromises in terms of mountain utility.

It has a stunning shining black finish and is composed of a lightweight aluminium alloy frame that is long-lasting and sturdy.

It comes with a 21-speed gear system that helps to keep the bike stable throughout hill climbing and trekking. The gears are strong enough to keep the bike in control on the bumpy and uneven track.

Pros & Cons

Pros Cons
Mountain and hiking enthusiasts will love it. In manual mode it is hard  to ride.
Tires that are resistant to slipping 

Sailnovo Y1-14

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Image Credits: amazon


Speed 18.6 mph
Range 25 to 28 miles
Motor  350 W

The another ride in our list of best electric bikes under $500 is Sailnovo Y1-14 e-bike features a rather powerful 350 watt motor that is driven by a big 36V 10.5Ah battery, allowing the bike to attain a top speed of 18.6 mph, a range of 25-28 miles, and the ability to climb slopes up to 15 degrees in full-electric mode.

The recommended rider height ranges from 4’10” to 5’10,” with a maximum weight capacity of 265 pounds. The user may see all necessary information on the LCD display, including the battery state and remaining charge.

Y1-14 14 Sailnovo has three modes and that’s are Pedal-assist mode, Full-electric mode, and pedal-only mode.

Pros & Cons

Pros Cons
Fast charging No waterproof facility available.
Good speed
LED lights were given for night rides.

Hiboy P10

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Image Credits: amazon


Motor 350 W
Range 15.5 to 21.6 miles
Speed 15.5 mph

Hiboy P10 has a dual braking system and a 350 watt electric hub motor. The highest speed supplied by its motor and 7.5 Ah lithium battery is 15.5 mph, with a range of 15.5 – 21.6 miles in full-electric mode.

The full-electric riding mode, pedal-assist riding mode, and pedal-only riding mode are all supported by this electric bike.

On level areas, the Hiboy P10’s 12 inch wheels provide a comfortable ride, but irregular terrain can be jarring.

Pros Cons
Reasonable cost Riding with a cadence sensor is jerky and sluggish.
Long-lasting battery Replacement battery is not available.
a strong motor Design with a lot of bulk
For short travels, it’s ideal.

Buyers Guide for Electric Bikes Under $500

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Image Credits: amazon

If you are thinking to buy any cheap electric bikes, then you have to make sure the less price is not compromising with the safety and durability of the bike. It is important to do some research and note some important points for the selection process. Here are some facts and important aspects that you must know before buying the electric bikes under $500.


Disc brakes are the finest option, and Shimano or SRAM are excellent choices. They operate well in damp and rainy situations, making them excellent for commuters.


Although it shouldn’t be the decisive element or a concern when selecting a bike model, keep in mind that lighting might be costly. Whether your new electric bike comes with lights or not, do yourself a favour and acquire some there are plenty that comes with E-bike lights to pick from.


The range is the given distance provided by the manufacturer, same to how mpg is advertised on autos. This value is a rough estimate based on estimated riders’ weights, riding circumstances, and so on.