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EMotorad, an electric bike startup, announced that it will expand its European presence and will initially target five countries in Europe. The company also has operations in India, UAE, Japan, and Nepal.
It stated that Europe is the fastest-growing market for electric vehicles and has a large customer base. This will give EMotorad a tremendous opportunity to make electric bikes for mass markets.
According to the company, it hopes to sell 3,000 electric bikes within the first quarter of its operation in these five countries.
The company stated that it plans to expand its business in the first phase by targeting five countries, including France, Spain, Germany, Italy, and the Netherlands. This will allow the continent to grow exponentially.
EMotorad’s electric bike ‘Doodle’ will be launched initially. Then, a premium and ultra-premium range will be available in the next six months.
It stated that the company plans to launch e-bikes with different terrain and demographics in the second stage. This will depend on the market study.
Europe is a market that is very interested in electric bikes. Aditya Oza (Co-founder and Chief Marketing Officer at EMotorad), stated that the European market is very competitive and highly developed.
He said, “With the lessons from mature markets such as Japan, where electric bikes are widely accepted, we’re ready to make our mark in one of the largest electric bike markets across the globe.”
According to the company, it is quickly building a team in Europe to speed up expansion and accelerate operations and management.
The company sees Europe as a market with high potential and expects a quarter-on-quarter growth of nearly 30-40%. EMotorod claims that it has sold more than 16,000 electric bikes in India and 11,000 in overseas markets.