Motovolt to open 100+ showrooms across India this fiscal: New e-bikes’ launch in Q3 2021

Motovolt had launched its first fleet of smart e-cycles in December, 2020. The company's product range is currently available with smartphone-based connected features.

By:Updated: Jun 24, 2021 4:10 PM

 

Motovolt Mobility Pvt Ltd has plans to expand its footprints across the southern & the rest of the eastern (including northeast) part of India starting the second quarter of the current fiscal. The company says that it has plans to build a pan India presence through an omnichannel Go To Market (GTM) plan that includes exclusive stores, multi-brand outlets, modern trade, and also, the enhancement of online presence. Motovolt says that of the Rs 100 crore investment earmarked for the first phase, it has already invested 30 percent and plans to raise the balance amount using a mix of instruments. As a part of its expansion plans, Motovolt plans to open over 100 exclusive showrooms across the country during the current fiscal. Out of these, 25 percent will be opened in West Bengal & the rest of the eastern portion.

Moreover, the brand is planning to introduce new E-Bikes during the third quarter of this year. Motovolt has tied up with METRO Cash & Carry India for being the Partner for product display, promotion and selling, across all their stores in India. The company opened its first exclusive Motovolt Store and Experience Centre in Taratala in Kolkata. They have also tied up with Spencer’s and had opened 3 stores in a shop in shops format at Spencer’s Hyper Stores in Kolkata and West Bengal.

Moreover, in the B2B space, the brand has already had successful pilots and tie-ups with various food delivery, pharma delivery platforms as well as India Post and aims to strengthen B2B partnerships further. The company has achieved 95% offline & 5% online sales since the launch. Motovolt recently tied up with Global Assure an as assistance partner for their range of smart electric cycles in order to provide an e-cycle protection package. Under this, a person will be entitled to benefits like 24×7 phone support, doctor consultation, message relay to relatives/colleagues/emergency numbers, locating nearest police station, ambulance referrals, complimentary cycle theft insurance, complimentary cycle damage from fire and also, complimentary permanent disability/accident death insurance worth Rs 2 Lakh.

Motovolt had launched its first fleet of smart e-cycles in December 2020. The Motovolt range of products is currently available with smartphone-based connected features. Motovolt has a manufacturing unit with an R&D product testing facility in Kolkata and an engineering design & prototype unit in Bengaluru. The company aims to cater to both B2B and B2C segments through its range of customized products. The products would be priced in the Rs 25,000 to Rs 35,000 bracket and customers can also avail Easy EMI options through some top finance partners, the company noted.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Latest Auto News