Bangalore-based bounce set the price of the first electric scooter low at Rs 36,000 ($ 480) on Thursday.
Backed by B-Capital and Falcon Edge, the startup is called the Bounce Infinity E1 with a replaceable battery and several unique features such as a tubular frame, hydraulic telescopic front suspension, and rear twin shock absorbers. Released the first electric scooter. Designed for Indian roads.
Customers will be able to replace the battery once it has been discharged from a nearby replacement station. According to Bounce, the startup is building a network of thousands of gas stations and swapping stations with moms and pop-up stores in several cities in India.
“We believe it’s a game changer not only for us, but for India,” Bounce co-founder and CEO Vivekananda Hallekere said in an interview with TechCrunch. The startup said it has tested more than 200 million kilograms of replaceable batteries.
Bounce has already set up a factory in Rajasthan, India, and plans to set up another factory, Hallekele said. Bounce said it would secure $ 100 million to invest in the electric vehicle business over the next year.
Startups want most Infinity E1 customers to buy a scooter without a battery. In Gujarat, variants are available for $ 480 and prices vary slightly in other states depending on government subsidies.
Customers can also buy a scooter with a battery and charger for Rs 68,999 ($ 921). Depending on state subsidies, prices can be as low as 59,999 Indian Rupees ($ 800, as in Gujarat).
If you choose the Bounce Infinity E1 without a battery, the startup says you will incur a replacement fee each time you replace an empty battery. “This significantly reduces the running cost of scooters and is 40% lower than traditional scooters,” says the startup.
The Bounce Infinity E1 can travel at 65km / h and lasts about 85km on a single charge. It ships in 5 different colors. Startups are also partnering with artists who allow customers to customize the vehicle design to their liking.
India is the largest motorcycle market in the world. Two-wheeled vehicles (scooters and motorcycles) make up more than 80% of all vehicles sold in the country. Electric vehicles have not yet entered the domestic market. In recent years, many entrepreneurs have begun to focus on this area as the country seeks to reduce carbon emissions. India is currently the third largest carbon emitter after China and the United States.
Softbank-backed Ora recently launched a 99,999 Indian Rupee ($ 1,350) electric vehicle. Ora delayed the shipment of scooters several times. According to two sources familiar with this issue, they want electric cars to be a huge success, and when they look at the public market, they expect electric cars to become headlines.
Bounce said it will require a pre-order for the Infiniti E1 scooter starting today. We will start shipping scooters in early March.
This is a developing story. read more…
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