Bounce To Infuse $100 Million In Manufacturing E2Ws, Expand Battery Swapping Network

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Hallekere said the company is working on building battery swapping infrastructure for 1-2 million scooters in the next 24 months

Electric two-wheeler rental platform Bounce has said that it is infusing about USD 100 million (around Rs 742 crore) across the manufacturing of e-scooters and expanding the battery swapping infrastructure over the next 1 year.

Bounce’s co-founder and CEO Vivekananda Hallekere said while speaking to news agency PTI that the company will unveil its first e-scooter towards the end of the month and deliveries will start by February next year.

“We want to make EV mainstream…when we’re talking about transition to EVs, we want to make sure millions of vehicles can actually practically look at it and not worry about charging infra, range or battery related issues….We will have two variants and by November-end, we will start pre-booking and deliveries will start February-end,” he said.

“There will be two types of pricing – one will be with battery and one without battery. I think we should be able to price it under Rs 70,000 with battery and without battery, we should be able to price under Rs 50,000,” Hallekere added.

Hallekere further said that the company expects upwards of one lakh vehicles to be booked in pre-bookings.

Hallekere said the company has a plant in Bhiwadi, and is now scouting for a second location.

“In the first phase, we have a factory in Bhiwadi in Rajasthan with a production capacity of 1.2 lakh scooters per year, and it will create employment opportunities for over 1,000 people in the next 3-4 quarters. The number of people employed currently in the unit is around 100,” he said, adding that the investment in the plant for the next 12 months is around USD 25 million.

Bounce had bought 22 Motors, including its manufacturing unit in Bhiwadi. The entire team from 22 Motors has joined Bounce, and the deal size was estimated to be about USD 7-10 million.

Hallekere said the company is working on building battery swapping infrastructure for 1-2 million scooters in the next 24 months.

Investment in battery swapping infrastructure over the next 12 months will be USD 50-75 million, and a large part of this is being debt financed, he added.

“Since we have a mobility business, we have already built a pretty good network in Bengaluru and Vijayawada and we have already done half a million swaps. Within Bangalore, within two kilometres of anywhere you are, the network already exists but our idea is to take it to half a km. We have already partnered with most of the petrol pumps…we are working with parking spaces, commercial spaces,” he explained.

This battery swapping infrastructure will be expanded to six cities, adding cities like Delhi, Pune, Hyderabad and Ahmedabad.

The CEO added that Bounce has already signed an agreement for supplying about 30,000 scooters in Turkey over a period of one year and those will start shipping by March-end.

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