With a rise in EV adoption, Amo Electric bikes see jump in October demand

Amo Electric bikes saw a single-day customer retail sale of more than 2,500 electric bikes on Dhanteras this year.The company aims to sell around 6,00
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Amo Electric is aiming to close an investment round of $200 million in the next three years.
Amo Electric is aiming to close an investment round of $200 million in the next three years.

With a rise in adoption of electric mobility in the country, EV company Amo Electric witnessed a jump in demand for its EVs in October. The company sold 2,500 units last month as compared to 416 units sold in the same month last year, a growth of over 500%.

The company saw a single-day customer retail sale of more than 2,500 electric bikes on the auspicious occasion of Dhanteras as compared to 316 units sold on the occasion last year. Amo Electric attributes this feat to the methodologies used by its sales and service teams and their step-by-step method to boost sales. The festive season of Dhanteras and upcoming Diwali added to the company's growth and demand momentum.

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The EV company highlighted that it has been witnessing a consistent growth in business through the third quarter this year with a rise of 200% in August, 350% in September to 500% growth in October. The company aims to sell around 6,000 units of its electric bikes on a monthly basis going forward.

The company also revealed in a statement that it is aiming to close an investment round of $200 million in the next three years. “We aim to play a big role in the electric mobility sector in India," said Sushant Kumar, Founder and MD of Amo Electric bikes.

The company also recently launched a campaign called - ‘Karle Raho Se Yaariyan’ with an aim to bring awareness on the topic of climate change as well as to highlight the importance of electric mobility solutions.

First Published Date: 02 Nov 2021, 16:36 PM IST
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