eBikeLabs just released an article for mobility operators who take e-bike fleet security seriously:
Understanding the underlying motives of theft is the first step to choose the best anti-theft system. Not all bicycles are
stolen for financial gain. In fact, a lot of offenders may take a bicycle simply to get from one place to another and then
abandon it. The motivations of e-bike thieves can be categorized in the following way: joyriders, cash converters and professionals.
1. Joyriders (or opportunists)
Joyriders are those who steal bicycles for transportation and/or enjoyment. They will generally abandon the vehicle after using it. These opportunists are looking for easy and hassle-free theft. They are targeting e-bikes with visible, easy to destroy locks.
2. Cash converters
Cash converters are those who exploit opportunities to steal components and/or electric bicycles and trade them for cash or goods. They are carrying handheld cable cutters, maybe some medium-sized bolt cutters, crowbars. Generally, they are looking for the most valuable e-bike component, which is the battery.