Home Bike News EeVe plans 200 distributors by December 2020

EeVe plans 200 distributors by December 2020

- Advertisement -

So far, Rs 70 crore has been infused into the venture and EeVe India is also aiming to invest Rs 160 crore in the next two years.

At the Auto Expo 2020, Orissa-based EeVe India. Which unveiled two electric two-wheelers, the Forseti scooter. The Tesero e-bike is confident of its rapid expansion over the coming year. The company aims to grow to more than 200 outlets across India by December 2020 from its existing 45 outlets–primarily present in the eastern part of the country.

EeVe started as part of the diversification from a family-run automotive component business in January 2018. It was ready to launch its first product commercially by October 2019.

In the last four months since its launch. The company says it has sold more than 1,200 units. Now plans to enter Gujarat, Maharashtra, Uttar Pradesh, and New Delhi. It targets 15,000 units in CY2020. It aims to grow year-on-year by 30-40 percent.

Other models already on sale from EeVe include the Xeniaa, Wind, 4U and Your electric two-wheelers. All of which are 50-70 km on-road and compatible with battery-swap. While the new Forseti reveal is scheduled to be launched in June. EeVe is watching the Terono electric motorcycle launch in September.

Aims Over India:

To date, Rs 70 crore has infused into the venture, and EeVe India further aims to invest Rs 160 crore over the next two years. A major portion of which would expand capacity to 60,000 units at its Bhubaneshwar plant, out of the current 12,000 units annually.

The company is looking for private equity funds. It will also focus on increasing localization. Extending the network of distributors and selling the goods.

EeVe India says its products with suppliers stationed in Pune and Haryana are currently located at a 40% location level.

It also has an R&D center in its home city, Bhubaneshwar. Its local designers have a connection with IIT Bhubaneshwar to perform product design and development. While breakeven is only expected after reaching 60,000 units. It aims to get into the concept of rent-a-bike. Which is popular in tourist destinations such as Pondicherry, Pune, and Goa.

- Advertisement -


Sign up for latest news, important updates and special tutorials.


Must Read

Ford Endeavor Sport Edition Launch Date, Specs, Mileage, Price, And Latest Update Here !!!

The Ford Endeavor Sport has been launched in India, priced at Rs 35.10 lakh. The Ford Endeavor Sport is a special edition that is...

Tata Nexon EV Car 3D Platform Launched: Know Here All the Features of Tata Nexon Electric Car in 3D View !!!

On the occasion of World Electric Vehicle Day, Tata Motors showcased all the variants from Nexon Electric with a 3D view. The company has...

Volkswagen Tiguan X Coupe Car: Know About Launch Date, Specs, Mileage, Price, And All Information !!!

Volkswagen has revealed the Tiguan X, its coupe SUV. Photos of the Tiguan X Coupe have been shared on social media. It is a...

Know Everything About Tata HBX Micro SUV Car Launch Date, Specs, Price, And All Information !!!

Domestic carmaker Tata Motors is currently working on its micro SUV Tata HBX. The company showcased this SUV at the Auto Expo 2020 held...

Know About Mercedes-Benz EQC 400 Launch Date, Specs, Review, Mileage, Price, And Everything Latest Update Here !!!

Mercedes-Benz has updated its electric SUV EQC 400 on the Indian website. Last week this car was seen in a showroom in Delhi. Mercedes...

Know Everything About BS6 Honda Jazz Variant Wise Features, Specs, Mileage, Price, And More Information !!!

Car manufacturer Honda Cars India recently launched the new-generation Honda Jazz, and it's premium hatchback car. The company has launched the Car at an...

Citroen C3 Sporty: Know About Expected Launch Date, Specs, Features, Price, And More Information !!!

Car manufacturer Citroen is preparing to launch its first car in the Indian market. According to the information, Citron may present its C5 Aircross...

Car Company Honda Announced its First Electric Car Will be Named “Honda E” !!!

While most carmakers are focusing on making electric sedans and electric SUVs, Japanese carmaker Honda Cars are preparing to make a small car as...

New Hyundai i20 Elite Car: Know About Specs, Mileage, Review, Launched Date, And Every Latest Update Here !!!

The new Hyundai i20 is scheduled to be launched in October, due to which the company has been doing road testing of this car...

New Honda Jazz TVC Launched In Indian Market Recently, Know Car Features, Specs, Mileage, And All Information !!!

Japanese carmaker Honda Cars has launched its premium hatchback Honda Jazz in the Indian market. The company has launched this car for Rs 7.49...