EV start-up EMotorad ends FY24 with 370% growth in domestic market

EMotorad, a leading domestic premium electric cycle brand, has experienced a remarkable growth rate of over 370 per cent in India during FY24, with its customer base now exceeding 100,000 globally. 

• Also read:Dhoni invests in Pune e-cycle maker EMotorad

Founded in 2020, the company has rapidly expanded boasting over 12 experience stores across major cities and a network of more than 350 dealers throughout India — an almost two-fold increase in the past two years.

As a market leader, EMotorad continues to scale up its operations maintaining an annual production capacity exceeding 100,000 e-cycles. The company recently welcomed cricket icon MS Dhoni not only as a brand ambassador but also as an investor, signaling a strong endorsement of its vision and products.

The introduction of the Doodle v3 in the Desire range marks the latest advancement in EMotorad’s product line. This model features a 13Ah battery, a 250W high-performance motor, and a travel range exceeding 60 km, underscoring the brand’s commitment to manufacturing high-quality, value-for-money electric cycles that are transforming urban commuting.

The company’s workforce has also grown significantly, now comprising over 250 employees supplemented by additional contract laborers.

“The fast paced growth at EMotorad is down to the market response and acceptance of the product both in domestic and international markets, however, we stay focused to bring sustainable growth fueled by the growing demand and popularity of EMotorad”, says Rajib Gangopadhay, Founder and Director at EMotorad.

• Also read:EV start-up EMotorad raises $20 million in Series B-round led by Panthera Growth Partners

Kunal Gupta, Co-founder and CEO of EMotorad, said, “This significant milestone motivates us to continue pushing boundaries, innovating, and delivering exceptional products and experiences to our customers.” 

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