Lectric, maker of low-cost electric bikes, has just revealed its first cargo bike, the Lectric XPedition. And like the rest of the brand’s lineup, the XPedition is extremely attractively priced at $1,399 — or $1,699 for dual battery version — making this one of the cheapest car replacements on the market today.

Lectric touts the XPedition as “the ultimate transportation solution,” and it’s hard to disagree when you look at the specs. With 180mm rear and front hydraulic disc brakes, a rear-hub motor, and a maximum payload capacity of 450lbs, the Phoenix-based company’s first cargo bike appears to check a lot of the right boxes right out of the gate.

The single-battery version, with 48 volts and 14 Ah for a total of 672Wh of capacity, can get up to 75 miles of range, depending on which assist levels you’re using. The dual battery version, with 1,344Wh of capacity, gets a whopping 150 miles of range.

Both rely on a rear-hub motor sporting 750 watts of nominal power, 1,310W of peak power, and 85 Nm of torque. (How accurate is that peak power claim? Electrek says not very!) The Lectric XPedition maxes out at 20 mph when using the throttle but can gallop up to 28 mph on pedal assist, making this a Class 3 e-bike when all’s said and done.

Lectric boasts of an improved pedal-assist functionality thanks to a new system it calls Pedal Assist Wattage Regulation. According to the company, the system improves on the traditional pedal-assist functionality “by supporting riders up to a designated power level for each PAS setting, instead of limiting the assistance by speed.” Apparently this is supposed to have a more naturalistic feeling like a torque sensor without having to rely on a more expensive component.

And cost is where the Lectric XPedition really shines. The company’s commitment to keeping its e-bikes priced under $2,000 speaks to its desire to cast as wide a net as possible when it comes to customers. Other cargo e-bikes on the market tend to average at around $3,000, although there are several brands that sell for much higher. Trek, for example, just released two electric cargo bikes that are priced at $6,000 and $8,500, respectively.

Of course, Lectric is a direct-to-consumer brand, a designation that carries with it a familiar set of advantages and challenges. The company uses less expensive parts and doesn’t have a nationwide network of dealers and licensed repair shops, so test-driving one of the company’s bikes before you buy or getting it repaired will undoubtedly be more difficult. But Lectric says its bikes will arrive fully assembled and is backed by a one-year warranty and a full US customer service base. I have not personally tested this out, so you’ll just have to take its word on it for now.

Regardless, now that it’s here, the XPedition can credibly claim to be one of the cheapest, if not the cheapest, electric cargo bikes on the market. (Rad Power Bikes’ RadWagon, back from its recall-imposed hiatus, sells for $1,999 and is currently on backorder.) Lectric has always been laser focused on affordability, ever since the launch of the XP 2.0. And that commitment carries over to the company’s newest model.

Cargo bikes in particular are climate solutions, thanks to their unique characteristics that help them replace car trips. By introducing a low-cost model, Lectric is doing its part to help reduce carbon emissions, improve the environment, and empower its customers to live a better, more car-free lifestyle.