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VAAN Moto, an electric mobility startup, has opened its first electric bicycle lounge and showroom in Mumbai’s Atria Mall. The company was officially launched globally at the EICMA motorcycle exhibition in Italy, held on November 2021.
The company plans to expand into major markets with this electric bike showroom and lounge.
Jithu Sukumaran Nair, Founder, and CEO of VAAN Electric Moto said, “VAAN aims to be a premium lifestyle e-mobility brand from India going global and Mumbai is our first step towards that. In the next three months, we are planning to launch in Bengaluru, Chennai, Hyderabad, and Pune. Our plant in Kochi has the capacity to assemble 2,000 cycles a month, and is initially targeting sales of 8,000 to 10,000 cycles a year.”
VAAN Moto has partnered up with top players in the segment such as Benelli from Italy and Kiska of KTM Austria. These electric bikes are designed by VAAN Moto, Benelli provides components, and Kiska assists with branding.
VAAN Moto has launched two electric bike models, UrbanSport as well as UrbanSport Pro, which feature a compact frame, 20-inch wheels with detachable batteries, indicator lights, and a unisex design. These bikes are capable of operating in three modes: pedal assist mode, normal pedaling, and throttle mode.
“We are catering to the discerning young Indian population who is looking for a trendy, sustainable, and environmentally friendly solution to their everyday lifestyle needs. The majority of us today are health conscious and the global pandemic saw people going back to bicycling as a healthy option. But for some cycling may be tedious, and that’s where our e-bikes help overcome the challenge,” said Kapil Garg, Chairman, and MD, of Oilmax Energy.
It has also signed an agreement with Cosmos Sports to set up nine showrooms and service centers across Kerala. The company has also made arrangements to have electric bikes installed in five-star resorts and hotels in Kerala, Puducherry, Tamil Nadu, Andaman, and Karnataka.
VAAN, India’s e-mobility startup, was funded by BSE and NSE-listed Asian Energy Services Ltd. It now has $7 million in Pre-A Series funding for expansion.