With the signing of the Indo-Australian Economic Cooperation and Trade Agreement, electric car company EMotorad has expanded into the Australian market with its e-bicycle.
According to CEO and co-founder Kunal Gupta, the company has shipped its first batch of 200 foldable electric cycles to a partner located in Melbourne.
EMotorad’s foldable e-bicycle Doodle v2, which can be easily carried around and put in the boot of a car, is priced at `49,999 in the Indian market. The Doodle v2’s speed is 25 km per hour with a range of 55 km.
Founded in 2020 by Rajib Gangopadhyay, Kunal Gupta, Aditya Oza, and Sumedh Battewar, EMotorad is based in Pune with a capacity to make 90,000 units a year. It has a wide range of bikes starting from `24,999 for the mass market and going up to `5 lakh for ultra-premium e-bikes. At present, nearly 70% of the company’s revenues and 60% of volumes come from the international markets.
Hero Cycles leads the e-bicycle market in India with around 3,500 to 4,000 units a month, and EMotorad is aiming to overtake its biggest rival by Diwali. The company is currently selling 2,500 units a month.
“The competition has not been able to shake off its traditional mindset and cost-focused approach to the bicycle market,” EMotorad’s chief business officer and co-founder Sumedh Battewar said. He hopes to replicate what Tesla did to General Motors and outsmart incumbents in the Indian market. A focus on the service network, bikes loaded with electronics and software-led features, and deeper engagement with the buyers will give the startup a lead in the market, according to Battewar.
