Scooter rental startup Bounce to launch its first electric scooter this month
After ride-hailing platform turned EV manufacturer Ola Electric, another company is making its way towards electric two-wheeler manufacturing. Scooter rental startup Bounce will be launching its first Made-in-India electric scooter in the country this month and plans to start deliveries of its maiden scooter from January next year.
The scooter which doesn't have an official name yet will feature swappable battery packs. In a first of its kind model, though customers will buy the electric scooter, they will have an option of either purchasing the battery as a part of the scooter or using the battery as a rental service. With this model, Bounce aims to bring down the cost of the scooter as batteries account for 40-50% of the cost of an electric scooter.
To support this model, the Bengaluru startup also plans to set up battery swapping network to serve both its retail customers and its ride sharing business. Customers will be able to rent batteries from the company's battery swapping points and pay the subscription cost on a recurring basis.
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Bounce's plans to build its own electric scooter are not as sudden as they may seem. The company recently acquired a 100% stake in 22Motors in a deal valued at about $7 million (approx. ₹52 crore). 22Motors has partnered with Kymco for operations in India. As a part of the deal, Bounce acquired 22Motors' manufacturing plant in Bhiwadi, Rajasthan as well as all of its intellectual properties. Along with this, the entire 22Motors family has joined Bounce.
The Bhiwandi plant has a capacity to build about 180,000 scooters annually. Bounce is also planning to set another plant in southern side of India. It has set aside an amount of $25 million for investment in its electric vehicle manufacturing business over the next one year.