Home > Auto > News > With a rise in EV adoption, Amo Electric bikes see jump in October demand
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 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 6,000 units of its electric bikes on a monthly basis going forward.

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.

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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.

(Also read | Komaki to launch India’s first electric cruiser bike. Check timeline here)

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, 04:36 PM IST

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