BGauss Auto to invest Rs 40 cr to double electric two-wheeler mfg capacity to 2 lakh units/yr – EQ Mag Pro
Electric Two-Wheeler Manufacturer The company plans to have five to six products in the high-speed electric scooters segment two years later. It is also eye-catching around 8-10 per cent of the fast-growing electric two-wheeler market in three years’ time.
“This year we are targeting (to sell) around 80,000 to 1 lakh vehicles,” BGauss Auto Founder and Managing Director Hemant said.
He further said that the company’s manufacturing plant at Chakan in Pune has an annual capacity of one lakh units and can be scaled up to 2 lakh units. With over 1 lakh units of ongoing fiscal, BGauss Auto is now gearing up to meet its capacity and meet future demand.
Asked about investment in capacity enhancement, he said, “We will be investing close to Rs 40 crore.”
In terms of funding, having raised Rs 52 crore in April this year, Kabra said, “At this point in time, we are adequately capitalized.”
On the product side, he said the company is currently offering two products in the market – a low speed scooter A2 and a high speed B8. This month, it launched its third model D15 in two variants priced at Rs 99,999 and Rs 1.15 lakh (ex-showroom) respectively, and the deliveries will start in June.
“We are going to launch one more product this financial year. So, there will be four products that we will have in our portfolio this financial year,” he added.
He further stated, “We have also started designing for a product (launch around) next year.”
The company will have a “total five to six products after two years” which are focused on the high-speed electric scooter segment, he added.
Commenting on the ambitions of the company, Kabra said the electric two-wheeler segment will expand exponentially and BGauss Auto will “target close to anything between 8 per cent to 10 per cent” in the next three years.
BGauss Auto is also accelerating its network expansion to fuel its growth.
“We currently have close to 100 dealerships, 52 are active and 48 will be active next month … We are targeting that by March 2023, we should be close to 250 dealerships in 160-odd cities,” Kabra said.
Asked if the company plans to expand beyond two-wheelers to the electric vehicle segment, he said, “For the next three years we’re going to be sticking to two-wheelers.”
Source: PTI
