Post Launch Of Its Electric Scooters, Twenty Two Motors Aims To Sell 50,000 Units
Twenty Two Motors based in Gurgaon has set a target to sell over 50,000 units in a year just after its launch. Co-Founders, Twenty Two Motors, Vijay Chandrawat and Parveen Kharb stated this projection.
As per the SMEV (Society of Manufacturers of Electric Vehicles), 23,000 units is the total sales of the electric two-wheeler. And with contrast to that, the volume of the projected sales is almost double than that of actual electric two-wheeler sales.
To accomplish the ambitious goal, the automaker is in plans to invest $5 Million in product marketing. It will be applying both online and offline sales strategies.
Co-Founder & COO, Chandrawat said, “We will be introducing the scooters in Delhi-NCR region in the first phase, and further move to Bangalore and Pune within the duration of six months. Moreover, in six months we will expand our network to more 10 cities. In the very first year, the funding reserved for marketing will be will be utilized.” It also stated that two new variants of the scooter will be brought in the market to increase the product portfolio.
In terms of product, we are pretty certain. The challenges related to charging have been handled in a precise manner. The battery of the scooter can be dismantled and connected to 5 Ampere socket for charging. This electric scooter has the capacity to travel up to 80 km with a single charge. This capacity is far better, as a normal rider drives only 12–15 km on daily basis in Delhi-NCR region. Trusting the driving capacity of the electric scooter, the rider will be needed to charge the battery twice or thrice in a month.
So far, the company has poured about $8 Million in the development of production and manufacturing infrastructure. The company claims that it can manufacture around 300 scooters per day.
Twenty Two Motors has so far raised a pre-series A funding of $1.6 Million that was led by CEO, Haryana Industries. The Former Director of Harley-Davidson, Farhaan Shabbir also took part in the investment round to reinforce the startup. He got onboard as a founder member.
In the preceding days, the company is looking forward to raise its second funding round of $15 Million and searching for an alliance with electronic player and battery manufacturer. However, it has recently ceased the collaboration with a leading two-wheeler maker.
In terms of competition, it has a tough rival named Ather which is backed by Hero Motorcycles.