BattRE, has crossed 300 dealerships across 19 states and further plans to ramp that up to 700 dealerships by FY23 exit. This expansion of their dealer network will be supported by two brand new additions in their product portfolio, a high-speed electric scooter and a high-speed electric bike. With these offerings, BattRE will be bring in a whole new breed of electric two wheelers in the market.
The company is eyeing a revenue in excess of 450 crore in the financial year 2022-23 which is a 300 percent jump compared to the revenue in FY 2021-22. In addition to the targeted financials, the company is also looking at an additional investment of INR 100 crores to ramp up production capacities, expand dealer network, launch the new products and enhance research and development capabilities.
Encashing on the market maturity in the electric vehicles segment, BattRE is looking at a huge growth in the near future. Elaborating on this, BattRE’s founder, Mr. Nishchal Choudhury said, “The growth of battery-operated two-wheeler market is yet to reach its inflection point. The next 10 years are going to see an unprecedented rise of more than 100 percent CAGR. BattRE is gearing up to position itself and take advantage of this phenomenal demand.”
“While numerous new players have entered the market recently, BattRE has had a head start of 2.5 years in this industry and offers products that meet the customers’ demands. And soon we’ll be launching an e-scooter which will boast of many firsts in the EV market, and is going to be positioned as a complete family vehicle. We are also in the final stages of testing our electric motorcycle, which is targeted to be launched by June this year. With the launch of these products, customers from every walk of life will be able to find a product suitable to their needs,” Mr. Nishchal added.
BattRE, with its new expansion plans, is aggressively targeting Tier 2 and Tier 3 cities, which are also emerging as demand centres and growing exponentially like the Tier 1 cities.
Mr. Nishchal further stated, “We would like to make electric vehicles a chosen reality for youth. To make it their preferred choice, we are investing in design, efficiency and performance. We are working consistently towards the goal of taking electric mobility to the heart of India and through this, hoping to do our bit towards a sustainable future by providing better commuting solutions.”
