EV Company Raising Funds in Andhra Pradesh
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Product / Service
Engaged in sales of Electric Scooters & Motorcycles. They offer long range vehicles for it's customers upto 250 Kms differentiating them from the competition's offerings of 100-150 Kms.
Clientele type
Serving D2C clients through it's own outlets and it's franchise model
Premises
LEASED
Lease per month (in INR): 30,000
Security Deposit (in INR): 300,000
Carpet Area: 3,500 sq ft
The assembly unit is located in the city outskirts, where the automotive market is prevalent.
Asking Price Includes
The detailed terms of transaction will be discussed with potential investors.
Reason
The company will utilize these funds in Inventory and stock management, Marketing, and Reserve & Investments.
Other Details
The company is in the business of manufacturing electric scooters & motorcycles and high-performance Lithium batteries under it's own brand. The company has set up a dedicated EV and battery manufacturing unit and having a dedicated facility for R&D for EV powertrain development and testing.
They're currently one of the leading EV brands in India. The company is focused on building products beloved by the mass consumer and building a trustworthy brand name in EV market.
They've given out 5 franchisees in Andhra Pradesh & Telangana and have 2 company owned outlets in Nellore.
They're procuring the materials from India and foreign countries as well. The business is gauging interests of 100+ dealers and have 1M+ views on their promotional Facebook video. Profit margins can be upto 30% on sales done through own outlets.
It is an SISFS Grant Approved Company
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₹10 to ₹200 Cr
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