EV Maker EMotorad Targets 300 Per Cent Growth In FY2022-23

Domestic premium electric bike maker EMotorad announced its ostentatious plan to expand its customer base as well as target a 300 per cent growth in the FY2022-23. The homegrown EV marker revealed that it has registered 400 per cent growth in its revenue, while the team has grown by 300 per cent since its humble beginnings in 2020. At present, the company has a dealership network of 170+ dealers across the country, which will also see a further expansion in this fiscal year. Recently, EMotorad expanded its manufacturing capacity to 90,000 e-cycles per year from its Pune facility, from the previous capacity of 16,000 e-bikes per annum, from an Rs. 20 crore investments.

Also Read: Emotorad Invests ₹ 20 Crores In Expanding Manufacturing Capacity For 2022

Kunal Gupta, Co-founder & CEO, EMotorad, said, “We want to be a great team not just a big team. We are all concentrating to scale up across a massive market in the USA and some of our recent deployments of funds in strengthening our manufacturing capabilities have been all around our aspiration towards the same growth.”

The EMX was the first model to be launched by EMotorad.

Aditya Oza, CMO & Co-Founder, EMotorad said, “We are fortunate that more than 30 per cent of our hiring is through the references of the current employees. This majorly happens because of the work environment and the foot we put forward in developing a friendly culture at the workplace. This is also because of the ownership that each employee took to resonate with the growth at EMotorad.”

Also Read: EMotorad To Launch Cosmos Heavy-Duty Electric Cycle For Delivery Segment By Mid-2021

The company also revealed its plan to expand its sales, marketing, and operations team, as it wants to tap the international markets of UAE, Nepal, and Japan, and strengthen its global presence. At present EMotorad has its presence across 170 offline dealers in 65 cities in India and sales of over 9,000 e-cycles in India since its launch in 2020, besides exporting 6,300 units to the UAE, Japan, and Nepal.