GoZero Mobility aims expansion in North East India, plans to invest $1 million
British electric bike maker GoZero Mobility on Thursday has announced its expansion strategy for the North East region of India. The company has said in a release that it plans to invest $1 million in the region over the next three years. Also, through this expansion and investment strategy, the company to create more than 100 jobs over the next three years.
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Electric vehicle adoption in India has been gaining momentum for the last few years. It is majorly driven by electric scooters and three-wheelers, but electric bicycles too are finding increasing demand owing to the riding comfort and additional range they offer.
Compared to regular bicycles, electric bicycles provide additional riding range and more riding comfort as well thanks to the battery onboard and the pedal-assist cruising modes. This is the reason, the popularity of these electric bicycles has been increasing.
GoZero Mobility has said that it aims to expand its retail network in North East India and set up local assembly units to ensure faster or same-day deliveries. The company hopes to sell 15,000 units of electric bicycles annually in the North East region.
Commenting on the expansion plan, GoZero Mobility Co-Founder, Sumit Ranjan said that India is one the largest two-wheeler and bicycle markets in the world and the North-Eastern region is a strong market for e-bikes which so far have remained untapped. "We see a significant demand for our products in the region; hence we see this is an appropriate time for us to expand in the North East Market. We anticipate selling 15,000 units annually with our presence in the North East," he further added.
He also said that the company aims to provide job opportunities for locals with the proposed investment that would be towards enabling GoZero e-bike retailers shops in the seven sister states such as Arunachal Pradesh, Assam, Meghalaya, Manipur, Mizoram, Nagaland and Tripura. The company claims that there are major demands for electric vehicles in these states.
