Homegrown startup AlphaVector today launched its first e-bicycle in India – Meraki by Ninety One at Rs 29,999. The global e-bicycle market is touted to cross $38.6 billion by 2025 which the company aims to tap as the electric 2-wheeler segment rapidly grows in India as well. The company states that Meraki has already received 100+ pre-booking registrations from cities like Mumbai, Bengaluru, Delhi, Chennai, Pune, and Ahmedabad.
The pandemic induced inclination towards cycling as a lifestyle necessity has further acted as a catalyst for the segment. Recently, AlphaVector witnessed a 2.5x growth in its Monthly Revenue Rate (MRR) in the last six months (March – September 2020) and a 15% demand-fill rate. It plans to meet its target of 300CR ARR (annual revenue rate) next year by ramping up supplies over the next few months.
The e-bicycle boasts high-end components and is powered by a 250 watt, IP 65 (waterproof ) BLDC motor that has a top speed of 25 km/h. The lithium-ion battery with 6.36AH is claimed to last 750 cycles of charging and comes with a one-year warranty. It can be charged to full in 2.5 hours which offers up to 35 km at full charge.
Meraki comes equipped with e-brakes with automatic brake cut off. Moreover, the key-lock switch helps avoid tampering the bike cannot be turned on without a key. It comes with four ride modes – Pedal Assist, Throttle, Cruise, and Pedal.
Designed & developed in-house by AlphaVector, Meraki will be available across 350+ cities in India through the company’s strong retail network of 700 stores as well as online via the company website. It will be available in two colour options – Black-Red and Silver-Grey. Meraki also comes with a display with a battery-level indicator and PAS mode control.
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