 "eBikeGO")
Electric bike startup eBikeGo on Monday announced it will set up a manufacturing facility through its subsidiary Vajram Electric for its Muvi and Velocipedo brand of electric vehicles.
The facility will develop powertrain as well as multiple product portfolios for both domestic and international markets, eBikeGo said in a statement.
Vajram Electric is a special business unit established in order to fulfil the manufacturing requirements of eBikeGo, the company said in the statement.
The company had late last year announced acquiring manufacturing and marketing rights for European e-scooter Muvi as well as manufacturing rights for electric trike Velocipado from Spanish automotive company Tarrot.
With cutting edge technology and business intelligence, Vajram will build an integrated EV (Electric Vehicle) ecosystem. It will develop the two-wheeler powertrain that enables a variety of vehicle configurations, the company said.
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eBikeGo also said its subsidiary company will manufacture multiple futuristic product portfolios of vehicles for both India as well as international markets.
"We aim to be India's first electric mobility company that is building an integrated EV ecosystem. A dedicated quality EV manufacturing unit is the need of the hour and Vajram Electric is the first and a crucial step towards achieving this goal. Vajram Electric will offer modular, purpose-built EVs to solve the future of mobility," said Irfan Khan, founder-CEO, eBikeGo.
The company said for its product pipeline for different use cases, a contract manufacturing facility will be able to reduce costs and at the same time can work on low volume shifts by optimising platform sharing.
eBikeGo is currently present in seven cities and has more than 2,500 vehicles in EV rental space.
The company is actively working with all the major last-mile delivery companies and is aiming to target 2 per cent of the domestic electric two-wheeler market with plans to bring on the road a fleet of 2,00,000 bikes in about 100 cities across the country, as per the statement.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
