The firm is planning to expand beyond Bhopal to other cities in Madhya Pradesh in the coming months
EV start-up Enigma Automobiles has announced that it is launching new models to capitalize on the growing awareness and adoption of electric vehicles in the country, eyeing to triple its turnover to Rs 15 crores this year.
The Bhopal-based company, which accounts for 30 percent of the electric vehicle market in its home base, ended the financial year 2020-21 with a turnover of Rs. 5 crores.
“We are seeing a growing acceptance of electric scooters across sections of users as an environment-friendly and cost-effective means of travel within cities. We are on track to close this financial year with revenue of Rs. 15 crores,” said Anmol Bohre, founder, Enigma Automobiles.
The firm is planning to expand beyond Bhopal to other cities in Madhya Pradesh in the coming months. It presently offers three models of electric scooters – Crink, GT-450, and Ambier – and has plans to launch three high-speed scooters before Diwali.
While the immediate focus continues to be on Madhya Pradesh, Enigma also has plans to expand to other states in the near future.
In recent weeks, several states such as Gujarat, Maharashtra and Rajasthan have announced initiatives, including financial subsidies, to encourage the adoption of electric vehicles by more people. The Madhya Pradesh government has also announced an Electric Vehicle policy to drive large-scale adoption of EVs.
