BGauss Auto to invest around ₹40 crore to double its EV production capacity
Electric two-wheeler maker BGauss Auto Pvt Ltd plans to invest around ₹40 crore to double the production capacity of its electric two-wheelers to two lakh units annually by next year. The company plans to have five to six electric offerings in its product portfolio of high-speed electric scooters after two years. It is also eyeing around 8-10 per cent of the fast-growing electric two-wheeler market in three years' time.
At present, the company's manufacturing plant at Chakan in Pune has an annual capacity of one lakh units and can be scaled up to two lakh units. With plans to sell around one lakh units in the ongoing fiscal, BGauss Auto is now gearing up to increase its capacity to meet future demand. "This year we are targeting (to sell) around 80,000 to 1 lakh vehicles," BGauss Auto Founder and Managing Director Hemant Kabra told PTI.
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In terms of funding, BGauss Auto Pvt Ltd has raised ₹52 crore in April this year. "At this point in time, we are adequately capitalised," Kabra said.
At present, the EV two-wheeler maker has two products in the market - low speed scooter A2 and a high speed B8. This month, it has launched its third model D15 in two variants priced at ₹99,999 and ₹1.15 lakh (ex-showroom) respectively. Deliveries for the scooters will start in June. “We are going to launch one more product in this financial year," Kabra informed.
Further, the company believes that the electric two-wheeler segment will expand exponentially and BGauss Auto will "target close to anything between 8 per cent to 10 per cent" of the market in the next three years. The company is also expanding exponentially and will "target close to anything between 8 per cent to 10 per cent" of the market in the next three years.