The growth of battery-operated two-wheeler market is yet to reach its inflection point, says BattRE’s founder Nishchal Choudhury.
NEW DELHI, Jan 20 (The CONNECT) -EV startup BattRE has crossed 300 dealerships across 19 states and plans to ramp up to 700 by FY23 exit. The expansion will be supported by two brand new additions in their product portfolio, a high-speed electric scooter and electric bike
The company is eyeing a revenue in excess of Rs 450 crore in the financial year 2022-23 - a 300 percent jump compared to the revenue in FY 2021-22. The company is also looking at an additional investment of INR 100 crores to ramp up production capacities, expand dealer network, launch the new products and enhance research and development capabilities.
BattRE’s founder Nishchal Choudhury said, “The growth of battery-operated two-wheeler market is yet to reach its inflection point. The next 10 years are going to see an unprecedented rise of more than 100 percent CAGR. BattRE is gearing up to position itself and take advantage of this phenomenal demand.”
“While numerous new players have entered the market recently, BattRE has had a head start of 2.5 years in this industry and offers products that meet the customers’ demands,” he said.