E-bike startup EMotorad expands to Europe: Newsdrum
Mumbai, Sep 5 (PTI) E-bike startup EMotorad said on Monday that it is expanding its presence in Europe and will target five countries in the region to start with.
Besides India, the company has a presence in the United Arab Emirates, Japan and Nepal.
Europe is one of the largest and fastest growing markets for electric vehicles with an affluent customer base, which will present EMotorad with a huge opportunity to produce e-bikes for the mass market, it said. -he declares.
The company said it plans to sell some 3,000 e-bikes in the first quarters in those five countries.
In the initial expansion phase, the company said it plans to target five major countries – Spain, Italy, Germany, France and the Netherlands – for exponential growth across the continent .
EMotorad will initially launch its “Doodle” e-bike, followed by the rollout of a range of premium and ultra-premium e-bikes over the next six months.
At a later stage, the company also plans to introduce e-bikes based on different terrains and demographics, based on market research, he said.
Europe has major consumer interest in e-bikes. The European market is highly evolved and competitive, said Aditya Oza, co-founder and chief marketing officer of EMotorad.
“With lessons learned from mature markets like Japan, where e-bikes are widely accepted, we are poised to establish ourselves in one of the largest e-bike markets across the world,” he added.
The company said it was rapidly building a strong team in Europe to accelerate expansion and speed up operations and management of the business.
Considering Europe as a high-potential market, the company expects growth of nearly 30-40% on a quarterly basis.
EMotorod claims to have sold over 16,000 e-bikes in India in addition to 11,000 units in overseas markets so far. PTI IAS HTA