Micromobility start-up Toutche Electric has announced an aggressive roadmap to expand its dealer network in India. The manufacturer of indigenously designed and manufactured Heileo range of electric bicycles, Toutche said it has recorded growth of over 200% in FY21 on the back of a surge in demand across age groups and segments throughout India. “Our investment and differentiation is going to be all around technology. India is our test market and we have aspirations to expand globally,” said Raghu Kerakatty, CEO, Toutche Electric. While the company is present in Bengaluru, Chennai, Hyderabad, Mumbai, Pune, Kolkata and Delhi NCR, it aims to enter new markets by adding over 75 dealers by the end of 2021, and over 200 by the end of 2022. The company also plans to launch exclusive stores by September this year.
“We will launch the Toutche Partner programme, under which we will provide training, certifications and marketing to our business partners, helping them set up a successful e-bike business,” added Kerakatty. While there is no data on the exact size of the premium e-bike market in India, analysts said that Hero (Lectro) sells about 1,000 units per month, Ninety One sells about 500 units, and the rest of the players sell another 1,000 units. “Our current share is 3%, and we’re looking at achieving 6-8% of that market by the end of FY22,” said Kerakatty.
Toutche sells e-bikes such as Heileo M100, M200 and H200. “Promoting smart commute and active lifestyle, Heileo e-bikes are available in Hybrid and Mountain styles, and the new 2021 range will be launched in the Indian market in July,” he said. Toutche’s e-bikes are expensive, with the average ticket size almost double that of the Lectro (around Rs 25,000). “The battery in our e-bikes is almost double the size of those available in most other e-bikes in India, and that’s why our bikes are more expensive,” he added. “Moreover, a lot of e-bikes that are available in the economy segment do not have a detachable battery; our bikes have a detachable battery (waterproof) and that also makes it more expensive.” Toutche’s assembly plant is in Mysore and its technology unit is based in Bengaluru. It currently has the capacity to manufacture 2,000 e-bikes per month.
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