A technology-driven startup headquartered in Jaipur, BattRE offers a range of electric scooters and electric cycles, including One, Loev, IoT, GPS:ie and e-cycles
BattRE, one of India’s leading EV startups, has announced that it has established more than 300 dealerships in 19 states across the country. It has even revealed plans to expand the network to 700 dealerships by the end of FY23. Not just this, the company will even launch two new models in its electric portfolio. These will include a high-speed electric scooter as well as a high-speed electric motorcycle. These will be added to the company’s current range of products that include One, Loev, IoT, GPS:ie and e-cycles.
BattRE is targeting a revenue generation of more than INR 450 crore in the financial year 2022-2023. If achieved, this would lead to a whopping 300 percent growth as compared to the revenue generated in financial year 2021-2022. In addition to this, the startup is even looking at another investment of INR 100 crore to expand its production capacity, dealership network, introduce new models and even improve its research and development capabilities. Also, riding on the wave of faster adoption of electric vehicles, BattRE is hoping for a substantial growth in the times to come. As per its new expansion plans, BattRE is targeting markets in Tier 2 and Tier 3 cities.
Speaking on his company’s plans, Mr. Nishchal Choudhury, founder, BattRE 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. BattRE is gearing up to position itself and take advantage of this phenomenal demand.”
“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 which 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. With the launch of these products, customers from every walk of life will be able to find a product suitable to their needs,” Mr. Nishchal added.
Mr. Nishchal further stated, “We would like to make electric vehicles a chosen reality for youth. To make it their preferred choice, we are investing in design, efficiency and performance. We are working consistently towards the goal of taking electric mobility to the heart of India and through this, hoping to do our bit towards a sustainable future by providing better commuting solutions.”