Higher fuel prices are seen heating up the competition in the electric two-wheeler market. Latest in the fray is Ahmedabad-based Odysse Electric Vehicles Private Limited, which is looking to disrupt the market by offering first EV motorcycle under the brand ‘Evoqis’.

Odysse currently has four EV two-wheeler models including two high-speed daily use scooters, one low-speed scooter and a motorcycle. It plans to launch two more models by the end of 2021.

“We had launched our first three models just before the Covid-19 lockdown. So we could market them only from October 2020 onwards. But in the past five months, we've got positive customer response for our mileage, pickup, features and price. We are offering best combination of mileage and speed at lowest price in the segment. This is because we keep our margins low. Our aim is to get higher volumes by getting into wider national market,” Nemin Vora, CEO of the company, told BusinessLine .

Priced in ₹71,500-1.57 lakh range for different models, Odysse is looking to reach monthly sales volume of 1,200 units by the end of 2021. It is currently selling about 300-350 units a month in Gujarat, Maharashtra, Madhya Pradesh and parts of South India.

The mileage ranges between 70 km and 170 km in a single charge of battery, which takes roughly about 4 hours using a three-pin charging point. The battery — weighing about 8.5 kg — is detachable and can be taken for in-house charging. The running cost works out to about 20 paisa a km.

Odysse has installed capacity of 15,000 units annually in single shift but it aims to reach full capacity by the end of 2021.

According to Vora, besides the government push for the clean mobility options like EVs higher fuel prices has triggered a fierce competition in the two-wheeler segment. “New players are getting into the segment, investments are coming in new capacities and advertisements. It is all positive for the overall pie because the industry is still at a nascent stage, he added.

Vora has bootstrapped Odysse as an EV two-wheeler startup with an initial investment of ₹13 crore. The company has assembly unit at Changodar in Ahmedabad, while it has plans to produce its own batteries after reaching a sizeable scale.

The company plans to foray into Delhi market by April and expand its presence to over 30 multi-brand outlets within next one month.

comment COMMENT NOW