EV 2 Wheeler Mfg Biz Raising Initial Funds In Chennai

About Business

The company is a Chennai-based electric vehicle startup focused on transforming the two-wheeler segment through affordable, durable, and high-performance electric mobility solutions. The venture is currently pre-revenue but has completed product development and certifications, with vehicles that are ARAI-certified, RTO-registered, and ready for commercial sale.

The startup has developed a scalable portfolio of electric two-wheelers designed to outperform existing market offerings in terms of cost, range, durability, and rider comfort. Its products address key barriers to EV adoption such as high upfront costs, limited charging infrastructure, and concerns around battery life and product reliability. The vehicles offer flexible charging options (portable, swappable, and fixed), approximately 20% higher range, and a significantly lower total cost of ownership compared to incumbent players.

The company has generated strong early market validation, with pre-order interest valued at approximately ₹70 crore covering around 5,000 units. The go-to-market strategy includes a controlled launch across Chennai, Bengaluru, and Ahmedabad, followed by pan-India expansion and entry into international markets such as Africa, Latin America, ASEAN, and Europe. Distribution is planned through a mix of B2B fleet partnerships, existing multi-brand dealerships, and export channels to mitigate sales risk and improve margins.

The business follows a platform-led manufacturing approach with high component commonality across models, enabling faster development cycles, lower costs, and operational scalability. Manufacturing plans include contract manufacturing for components, in-house battery assembly using globally sourced cells, and in-house vehicle assembly to ensure quality control and long-term cost efficiency.

The founding team brings over 130 years of combined global experience across automotive engineering, EV technology, manufacturing, finance, sales, and supply chain management. The company has demonstrated strong execution capability, having built sale-ready products with limited capital and zero team attrition to date.

To date, the venture has been bootstrapped with approximately USD 1.6 million (around ₹13 crore) raised from friends, family, angel investors, and foreign direct investment. It is currently raising approximately USD 5 million (₹35–40 crore) through equity or SAFE instruments, with commitments of around ₹20 crore already secured. The capital will be deployed toward manufacturing setup, tooling, battery assembly infrastructure, and fulfilment of existing demand. The company expects to break even within 12 months of commencing production.

Clientele type

The go-to-market strategy includes a controlled launch across Chennai, Bengaluru, and Ahmedabad, followed by pan-India expansion and entry into international markets such as Africa, Latin America, ASEAN, and Europe.

Premises

The company is in the process of finalizing a plug-and-play manufacturing facility in Hosur that offers all the required infrastructure for seamless production and operations.

Asking Price Includes

The terms of the transaction will be discussed with the potential investors.

Asking Price

INR 45.00 Cr

Minimum ticket size

INR 45.00 Cr

Reason

The promoters are seeking strategic investors who can support scale-up, manufacturing execution, and long-term market expansion while leveraging the company’s strong product-market fit and early demand traction.

Licenses

ARAI certified, RTO-registered

More Details

The founding and leadership team brings over 130 years of combined global experience across automotive engineering, electric vehicle technology, manufacturing, finance, sales, marketing, and supply chain management.

The Founder & CEO has more than 25 years of experience in the automotive sector, with deep expertise in P&L management, manufacturing, R&D, finance, sales, marketing, and after-sales service. The individual holds advanced management and engineering qualifications from leading institutions in India and the United States.

The Co-Founder & CFO has over 25 years of experience in finance, investments, human resources, and legal functions, supported by advanced degrees in IT and finance along with globally recognized professional certifications.

The Design Head – Mechanical & Aesthetics brings around 15 years of experience in R&D, mechanical design, aesthetics, ergonomics, automobile platforms, and service, with formal training in design and automobile engineering from reputed international and Indian institutions.

The Design Head – Electrical & Software has approximately 10 years of experience in R&D, electrical and software architecture, detailed design, operations, finance, and people management, with advanced technical education from leading engineering institutes.

The General Manager – Sales & Marketing has close to three decades of experience in sales, marketing, key account management, and team development, backed by strong academic credentials in management and science.