>>1465189This isn't the most adequate product, but there are many light materials, power transfer and production efficiency gains (from the pedal all the way to the rear wheel's axis) and aerodynamic improvements (better shape, discs inside the wheels to slit airflow, less leg movement, different body position...) you can that are very cheap and maybe would make electric batteries extremely cringe.
You can even try to change the structure of the bike with bioinspired heuristics like this motorcycle uses.