EeVe India plans to invest Rs 1000 crores in the coming 2 years to establish charging infrastructure, expand sales, and roll out new merchandise. EeVe is one of the leading Electric Two-Wheeler Manufacturing companies in India that balances technology and the environment.
EeVe also recently launched ‘Soul’ its high-speed e-scooter which will cover 10% of the market share in the coming years. The company wants to increase the sellers’ community to 300 sellers and sub-dealers from 150 sellers and sub-dealers in the country.
“We plan to invest up to Rs 1,000 crore over the next two years to roll out new products, enhance production capacity and sales infrastructure,” EeVe India Co-Founder & Director Harsh Vardhan Didwania said.
The funds will be generated by debt and other monetary means. The company will also launch 2 new merchandise every year in the near future. It is anticipated that the Indian electric two-wheeler market will hit the 45-50 lakh mark by the year 2025.
“We have a legacy of 80 years in the mobility industry, with the largest operational manufacturing plant in the country. Last fiscal, we sold 15,000 units of our low-speed models and we are confident of achieving the target of another 50,000 units in the next two years,” Didwania said.
“The current disruption due to environmental compulsions, consciousness, and financial viability, the EV phase is about out for a whole transformation. So, as an organization, we really feel that is completely the proper time for us to take a giant stride ahead, and drive the change to keep forward of the curve,” Didwania added.
The company wants to boost the manufacturing at Odisha-based plant to 5 lakh from 3 lakh items every year. It sells 6 different variants of electric two-wheelers. The scooters have a navigation system, keyless expertise, USB port, anti-theft lock system, central braking system, geo-fencing, geo-tagging, and reverse mode.
