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Electric motorcycle manufacturer Tork Motors plans to launch three more products across price points, keeping in mind the revised subsidies, said a top executive of the company.
Currently, the company offers one product called KRATOS-R, which sells around 200 units a month, while it is able to manufacture 500 units. “Post-revision of FAME II, all the players saw their sales affected, including us. However, we believe that in the next couple of months, we should be back to the previous numbers,” Kapil Shelke, Founder and CEO, Tork Motors, said on the sidelines of the launch of its first experience store in Bengaluru.
Watch: TORK Motors’ Founder & CEO Kapil Shelke about the company and its bikes
The new facility will cater to existing and potential customers in and around the city and help establish its footprint in the State. “We are delighted to open our first experience zone in Bengaluru. The city is hailed as the country’s tech capital and is also a city of motorcyclists, making it a very significant market for us,” he added.
The current EV is equipped with a 4.0 kWH Li-ion battery pack (IP 67 rated) powering a 9kW Axial Flux motor, which has recently been granted a patent, enabling it to develop a peak torque of 38 Nm at 96 per cent efficiency, the company said. Moreover, it offers three ride modes: Eco, City and Sport and The IDC range is 180 km (in Eco mode), while it is capable of reaching a top speed of 105 km/h (in Sport mode).
Also read: Ratan Tata to invest in EV start-up Tork Motors
It is targeting monthly sales of around 3,500 EVs by the end of FY2024 as it continues efforts to expand market reach. The company plans to broaden its geographical reach and target 70–100 cities by the year end. “Currently, we are at 15 locations covering cities in Maharashtra, Kolkata, Bihar, and Telangana and are on track to reach 20 soon. Our target markets are cities with a higher prevalence of motorcycles and electric vehicles.”
Tork currently manufactures EV units through contract manufacturing. When asked about establishing its own facility, Shelke said it intends to stick to the existing setup for the time being.
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