The world is dealing with major natural disasters these days, global warming being the major issue. Vehicular pollution being the major cause of global warming, clean mobility can be the key player. Electric Vehicles are the new future and e-bikes will be the most used transportation leading to the gradual reduction of automotive pollution.
Here are the top players contributing to the green revolution.
Ola Electric
Bhavish Agarwal-led Ola Electric offers two-wheelers EVs and energy infrastructure. Founded in 2017, the EV startup manufacturing facility, Ola Future Factory, has a production capacity of 10 Mn two-wheeler EVs per annum and deploys over 3000 robots.
Recently, Ola Electric was also selected for receiving incentives from the Indian government under the $2.4 Bn PLI scheme to manufacture advanced chemistry cell batteries. A few days later, it also invested in Israel-based battery technology company StoreDot to have access to its XFC battery technology that charges batteries in five minutes.
In January 2022, Ola Electric completed a $200 Mn Series C funding round at a valuation of $5 Bn. The round saw participation from investors including Tekne Private Ventures, Alpine Opportunity Fund, and Edelweiss, among others.
Hero Lectro
Hero Lectro, the e-cycle brand of Hero Cycles, has the widest e-cycles portfolio in India’s organized market, spanning 14 variants across multiple utilities. Hero Lectro, since its inception, has created a modern revolution in the bicycle market with its unique range of electric bikes. The company has been constantly developing newer and better features that help experience hassle-free e-biking. Hero Lectro models have been captivating markets across the globe when it comes to eco-friendly, battery-assisted, fast-moving bikes that can cover difficult terrains and cut through congested urban spaces.
Baaz Bikes
Baaz Bikes, a subsidiary of ElecTorq Technologies, offers micro-mobility solutions to gig workers. It helps gig workers earn money by using its electric scooters for deliveries for companies such as Zomato, Amazon, and Grofers.
Baaz Bikes raised $2 Mn in Pre-Series A funding round from Kalaari Capital along with the participation of AdvantEdge, 9Unicorns, and Renew Power’s Sumant Sinha. The EV startup’s scooters can cover a distance of 60 km on a single charge. It also has built battery swapping infrastructure in India. It claims that its swapping infrastructure is live in two zones in Delhi.
Emotorad
Founded in 2020 EMotorad (EM) is an electric vehicles company that strives to bring eco-friendly, futuristic e-bikes at an affordable price for adventure seekers, daily commuters, or casual riders. The EV startup aims to bring across premium quality electric cycles at an affordable price, utilizing its local sourcing and manufacturing capabilities in India.
In a short span of time Emotorad has expanded its business in Japan, UAE, Europe & Nepal. EMotorad is globally present in many geographies. Alongside on-boarding 160+ dealers in India. EM currently is present across 82 towns and cities in India and abroad.
The company has sold over 16,000 E-bikes in India since its launch, besides exporting 11,000 of its bikes to the UAE, Japan, and Nepal. The brand is expanding and expecting a 400% growth in the financial year 2022-23. The startup has raised 3 million in seed funding
Ather Energy
Ather Energy offers sustainable mobility and energy infrastructure solutions. It manufactures two-wheeler electric vehicles, 450X and 450 Plus, that are sold on its website and offline retail stores. In May, Ather secured $128 Mn in its Series E funding round from sovereign fund NIIF Limited and existing investor Hero MotoCorp. With this round, it also closed its Series E round.
BGauss
BGauss, which is promoted by RR Global, offers sustainable mobility solutions. The startup manufactures two EVs – BGauss B8 and BGauss A2 – which are sold on its website as well as offline stores. It is currently expanding its product portfolio by launching two new EV scooters in 2022.
Recently, the EV startup got $7 Mn in funding from Vini Cosmetics’ Darshan Patel to expand retail and manufacturing capacity in India, perform R&D and develop in-house products across various EV components. It claims to have 100 dealer networks across India and is planning to enter Tier 2 and Tier 3 cities by the end of 2022. It is further looking to scale up operations and focus on the export market.