Telangana-based Quantum Energy, a manufacturer of electric vehicles, is hopeful that its operations would undergo a radical change in the upcoming fiscal year 2025. By the conclusion of this fiscal year, the company intends to boost its yearly production capacity from 6,000 to 50,000 units. A few original equipment manufacturers, including Quantum, are privileged to receive subsidies for electric two-wheelers and e-rickshaws under the Rs 500 crore Electric Mobility Promotion Scheme (EMPS).
With the support of the EMPS program, the company has already seen development in both business-to-business and business-to-consumer sales, reaching 10,000 units in the first four months of current fiscal year.
Targeting e-commerce delivery services, Quantum is also aiming to expand its consumer product line with new additions to its Plasma electric two-wheeler series and Bziness electric scooters. The growth of India’s gig economy has increased demand from fleet operators, which has led to partnerships with a variety of fleet operators, including Zevo, Green Drive Mobility, ScooEV, Bijliride, BluWheelz, Bike Bazaar, Hala Mobility, and the Ratnadeep Group from the South.
Quantum is also investigating the manufacturing of electric three-wheelers, which are in the advanced prototyping stage at the moment.
The company is preparing to invest a significant amount of capital to improve manufacturing at its current 50,000-unit-capacity Pashamylaram factory in Telangana’s Sangareddi District. The goal is to increase the manufacturing capacity to 120,000 units by investing more than Rs 100 crore in a new facility close to the Hyderabad Airport Electronic City. By a collaboration with Sun Mobility, Quantum is also making a foray into the battery-swapping market with an upcoming battery-swapping electric two-wheeler.
With regard to battery technology, Quantum works with Log9 and Battery Smart, incorporating their products into the scooters known as Bziness and Bziness Plus, which have detachable batteries. The new product, which is intended for delivery riders, has a replaceable LFP battery with a 130-kilometer charge cycle and an innovative 90,000-kilometer warranty, according to Chakravarthy C., MD of Quantum Energy.
With plans for additional dealerships in Rajasthan, the Delhi NCR, Bihar, Maharashtra, and areas of East India like Odisha and Jharkhand, Quantum is hoping to grow its network nationally. The company has already developed a strong foothold in South India, particularly in Andhra Pradesh, Tamil Nadu, and Karnataka. The company’s expansion approach, according to Chakravarthy C, is methodical and phased, concentrating on one market at a time to provide clarity.
Finally, during an interview with Autocar Professional, Chetana C., Director of Quantum Energy, mentioned that over the next three to four years, a $10 million Series A fundraising round will support the introduction of additional B2C goods and bolster their B2B market position.
