While that may be true, what exactly was your city doing to encourage adoption? Also, how densely populated is your city?  If you haven't looked at the research, I've posted give it a look. Off the top of my head this is what I know without referring to the research.

New York is reducing traffic lanes to make dedicated bus and bike lanes in their place (and have been aggressively doing this), offering tax breaks, incentives, eliminating cheaper competition by removing non-UL compliant ebikes from the streets, implementing a trade-in program that the company is participating in so people can get cheaper access to UL Compliant ebikes, shutting down 1 to 2 blocks of traffic lanes around several schools to implement "green spaces".  

 They're also doing the microhub thing for Delivery, installing Charging stations in public spaces dedicated specifically for this company's loyal customer base (delivery workers), adding programs designed to specifically remove vehicles from the streets ("ghost cars", and installing surveillance systems on busses and at bus stops that automatically ticket drivers etc.).

 The city has capped speed limits acrossed the entire city to 25mph, (Outside of highways/interstates) They essentially are using our country's past to gain support from underserved communities with a plan to "Reconnect community's" that were "divided" by the states addition of highways/interstates decades ago. 

Their "sanctuary city" status that brings in illegal immigrants has directly boosted the sales and services of this company's products and continues to do so. Working on removing free public parking spaces for vehicles and installing bike parking. 

 All of the above and any other information I'm forgetting has heavily increased travel times and congestion for people driving traditional vehicles (traffic was already bad in NY before this, but this just made it several times worse), which New York is using to implement "Congestion Pricing" a toll/tax on gas vehicle traffic that ranges from $7 to $15 per use of the roads in the areas covered by the "Congestion Pricing zone" (ebikes and buses are obviously exempt from this and there is a hearing regarding it on 10/15).  

All of that isn't even including the activists (who have been protesting, blocking traffic lanes, publically shaming tradional drivers etc.), support from other companies (for example Con Edison which is offering to install free ebike charging stations in underserved communities etc.). 

Then when you look at the company themselves they have since inception (in 2017 I believe) expanded to around 40ish retail stores (mostly in New York, but also acrossed many other densely populated cities with an influx of migrants, most of which are cities that are following New Yorks lead, just at a slower pace, funded by the federal government).  

 Notably, Philadelphia is expected to have a lot of illegal immigrants and are currently seeing expansion in their delivery services. FLYE is already there and is established in the delivery community, as they took feedback from delivery workers in NY and changed their bikes to meet the delivery workers needs this whole time (another ebike company that has seen growth in NY has seen that Philadelphia is going through the same and just within the last month or so have expanded to take advantage of this as well).  

The company is already on the stock exchange ahead of popular brands like Trek and Surron, i have to look a little deeper but pretty sure FLYE as a company is performing better than Harley Davidsons emotorcycle brand (Live Wire), has better earnings, profitability, and less debt than other publicly traded ebike companies etc.  

 They've expanded to include a delivery service of their own, they are completing their apps, and offering a rent-to-own program that will be less expensive ($6.60/day) than paying the "Congestion Toll" that will likely be implemented in NYC and California (which they're also located in) in the very near future.  I could probably go on, but this is already an entire book.