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Electric vehicle maker EMotorad targets 300% growth for fiscal 2022-23

Currently, EMotorad has a dealer network of over 170 dealerships across the country, which will also see further expansion this fiscal year.



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At present, EMotorad is present in 170 offline dealerships in 65 Indian cities.

Domestic high-end e-bike maker EMotorad has announced its ostentatious plan to expand its customer base and aim for 300% growth in fiscal year 2022-23. The local EV marker revealed that it has seen 400% revenue growth, while the team has grown 300% since its humble beginnings in 2020. Currently, the company has a network of more than 170 dealerships across the country, which will also see further expansion this fiscal year. Recently, EMotorad expanded its manufacturing capacity to 90,000 e-bikes per year from its Pune factory, up from the previous capacity of 16,000 e-bikes per year, from investments of ₹20 crore.

Also Read: Emotorad Invests ₹20 Crore in Expanding Manufacturing Capacity for 2022

Kunal Gupta, co-founder and CEO of EMotorad, said, “We want to be a big team, not just a big team. We are all focused on expanding into a huge market in the United States and some of our recent fundraising deployments to build our manufacturing capabilities have been all around our aspiration for the same growth.

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The EMX was the first model launched by EMotorad.

Aditya Oza, Chief Marketing Officer and Co-Founder of EMotorad, said, “We are fortunate that over 30% of our hires are through referrals from current employees. This happens primarily because of the work environment and the foothold we put on developing a friendly workplace culture. It is also because of the ownership each employee has taken to resonate with the growth of EMotorad.

Also Read: EMotorad to Launch Cosmos Heavy Duty Electric Cycle for Delivery Segment by Mid-2021

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The company also revealed plans to expand its sales, marketing and operations team as it seeks to tap into the international markets of UAE, Nepal and Japan and boost its global presence. Currently, EMotorad has a presence at 170 offline dealers in 65 cities in India and has sold over 9,000 e-bikes in India since its launch in 2020, in addition to exporting 6,300 units to the United Arab Emirates, the Japan and Nepal.

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