The Jaipur-based EV start-up, BattRE increased production to 4000 units per month after moving into larger factories. In the pursuit of success, BattRE is planning to expand in the north and east of India and also taking up several steps to become India’s most viable enterprise.
The company has already crossed 300 dealerships over 19 states and now undertaking growth plans to set up 700 dealerships by the end of fiscal year 2023.
This expansion is backed by the introduction of two new electric vehicles- a high-speed electric scooter and high speed electric motorcycle. Nishchal Choudhury, the founder of BattRE pronounced that the upcoming electric scooter will be stationed as a complete family vehicle that will blow many firsts of the EV market. Besides, BattRE announced that it stands in the final stage of testing the electric motorcycle that is destined to launch by June, 2022. Thus, these upcoming projects will be satisfying the needs of people.
In addition, BattRE is aiming to invest 100 crores to boost the production capacity of electric scooters, stretch out the dealership network, also utilizes the money to launch new products, to embellish the research and development potentials. Thus, the company is hoping for an earning of 450 crore in the fiscal year 2022- 2023, which would be a 300 % jack up compared to that of the fiscal year 2021-2022.
Nishchal Choudhury said, “The growth of battery-operated two-wheeler market is yet to reach its inflection point. The next 10 years are going to see an unprecedented rise of more than 100 percent CAGR. While numerous new players have entered the market recently, BattRE has had a head start of 2.5 years in this industry and offers products that meet the customers’ demands. And soon we’ll be launching an e-scooter that will boast of many firsts in the EV market, and is going to be positioned as a complete family vehicle. We are also in the final stages of testing our electric motorcycle, which is targeted to be launched by June this year.”
BattRE considers these growth plans as golden opportunities by making use of the rising demand for electric vehicles. In order to set up an EV ecosystem, to develop in major cities and to bust into to the market, BattRE is targeting Tier 2 and Tier 3 cities that are flourishing as demanded centers and growing profusely like Tier 1 cities in India.