Can you tell us in brief about your product, Doodle and also your flagship model EMX?
Doodle is the SUV of electric bikes to reduce human effort. Made for urban lifestyle, the responsive e-brakes ensure safety when riding in high traffic areas, increasing productive time and keeping one fit. As for EMX, it is India’s first dual suspension e-cycle with long battery life. It has 36V 250W BLDC rear hub motor which is powered with a 36V 10.4Ah Samsung lithium-ion battery (removable) and weighs 21 kg.
Several popular e-bike companies are lowering prices. So, do you see the e-bike market coming back to normal?
Many e-bike companies are trying to enter into the entry-level segment. So, everyone is trying to enter the market with an entry-level product at the price point, which is starting at ₹25,000 to ₹28,000, considering people will not extend the budget. However, our experience is otherwise. Our entry-level model is starting at ₹39,000 while our flagship model, EMX, is placed at ₹55,000. So, the e-bike market itself is growing; there is no normal level set as of now. The market is in a growing stage and we expect it will continue to grow at 22% CAGR.
How innovative have you been in your manufacturing processes of e-bikes? To be more specific, did you ever consider turning standard bikes into e-bikes?
We have never considered and nor will consider turning a standard bike into an e-bike, because it is not a scalable business at all. The quality of the bike will directly depend upon the person who is assembling it and it is impossible to monitor. The quality process that we follow in our plant cannot be implemented at a roadside shop, so we are never going to go into converting standard bikes into electric bikes.
Do you think that with concessions and no mandatory registrations for e-bikes, it could lead to uncontrolled congestion and low credibility of e-bikes?
I do not feel so. People not having an entry barrier is going to be a key concern of the segment because if one doesn’t have to register then there are no quality parameters being monitored. I don’t feel the registration of e-bikes will ever get mandated. So, if this is the challenge, then we have to live with it.
How do you plan to expand in the upcoming years? Why are you making UAE your stepping stone in the outside world?
This financial year, we are reaching 350 touchpoints across the country, spanning over 110 plus cities. That is what our domestic expansion target is. As for UAE, there is one major reason why we entered it. Dubai is the gateway to the world. And our motto to come to the UAE is to cater to a broader segment of the audience. We wish to work very closely with our overseas partners as well as the government. As a matter of fact, post-launch, we have received enquiries from more than 12 countries, where they are asking us to launch our brand there.