BattRE to launch new electric scooter and motorcycle soon
Electric two-wheeler manufacturer BattRE has announced that it aims to launch a new electric scooter soon. This upcoming electric scooter is claimed to be equipped with several industry-first features. The EV maker has also said that the upcoming scooter will be positioned as a complete family vehicle.
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Speaking about the upcoming products, BattRE has also said that it is currently testing an electric motorcycle, which is targeted to be launched by June 2022.
It is also aiming to expand its dealerships to new cities in order to further penetrate the market. BattRE said that with its new expansion plans, it is aggressively targeting Tier 2 and Tier 3 cities across India. The company claims to have already opened 300 dealerships across 19 states and also aims to ramp up its retail network to 700 by the end of FY23.
The company has also announced that it plans to invest ₹100 crore for ramping up the production capacity of the electric scooters in its lineup, dealership network expansion. Also, the money will be used for new product launches and enhancing research and development capabilities as well.
BattRE has said that it is eyeing a revenue in excess of ₹450 crores in the financial year 2022-23, which will be a 300 per cent growth compared to the revenue it recorded in FY 2021-22.
With the demand and sales of electric vehicles increasing, BattRE aims to encash the opportunity. Commenting on the strategy of the electric vehicle manufacturer, the founder of the company Nishchal Choudhury said that the growth of the 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 per cent CAGR. BattRE is gearing up to position itself and take advantage of this phenomenal demand," he further added.