EMotorad, an Indian electric vehicle company, has recently announced expansion into Europe. The organisation is aiming to build a presence in major EV markets across the globe.
Europe is one of the largest and fastest-growing markets for electric vehicles with an affluent customer base. This will provide EMotorad to produce electric cycles for the mass market on a world-class infrastructure that already serves electric vehicles, the company said.
Aditya Oza, Co-founder & CMO, EMotorad said, “The European market is highly evolved and competitive and furthers our mission to make a name for India in the world of EV. We are confident that an Indian startup can prove its mettle and build confidence in terms of quality.”
“With the learnings from mature markets like Japan, where there is widespread acceptance of e-bikes, we are ready to make a mark in one of the largest markets for e-bikes across the globe,” he added.
EMotorad is planning to target five major countries in Europe – Spain, Italy, Germany, France and the Netherlands, It is going to initially launch one of its offerings ‘Doodle’, followed by the launch of a premium and ultra-premium range of e-bikes in the coming 6 months.
In the later stage, the company also plans to introduce e-bikes based on different terrain and demographics, depending on market study. To accelerate the expansion, the company projects a business growth of nearly 30 percent to 40 percent quarter on a quarter basis. Initially, it is looking at starting with three thousand e-bikes in the first few quarters and later growing the offering at the same rate.
Founded in 2020, EMotorad has already expanded its business across 82 towns and cities in India and abroad – Japan, UAE and Nepal. The company has sold over 16,000 e-bikes in India and exported 11,000 e-bikes to international markets.