The automaker of e-bikes with its head office in Pune, EMotorad, seems to be able to ride the disruption wave. Despite having a low base, the start-up, which began operations two years ago, claims to be a profitable business with a growth of about 10-15 percent CAGR.
Even though it is a young company, it has sold over 5 lakh electric bicycles for an average selling price of Rs 57,000 each.
The company recently introduced two new products: the Elite range, which starts at Rs 4.75 lakh and is aimed at the premium segment as well as the export market, and the X-range of reasonably priced e-bikes, which starts at Rs 24,999.
The business is placing its future on its disruptive technology, dubbed “Amigo,” a connected platform that adds a slew of new features to the biking market and is claimed to be the first in its sector. The platform provides users with access to cutting-edge telematics and connected solutions, including heartbeat monitoring, navigation, and monitoring of speed and calories burned. Although the specifics and costs have not yet been disclosed, it is anticipated that the device will cost less than Rs 5,000 and include a monthly subscription service for users.
Speaking to Financial Express Online, Rajib Gangopadhyay, Founder, EMotorad sees huge opportunities in the accessories and aftermarket space. Opportunity in offering value-added services is another area Gangopadhyay emphasized on.
The company is looking to introduce the Amigo platform as an independent service that can be availed by any bicycle user, off course, to take full advantage of the solution, an EMotorad e-bicycle would be ideally suited.
