Micromax Co-founder Rahul Sharma Venturing into Electric Vehicle Business

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Sharma plans to launch the company’s first electric motorcycle by June-end in Delhi. He is investing about Rs 500 crore into the project.

 Micromax’s co-founder Rahul Sharma is all set to venture into electric mobility sector and plans to launch the first electric motorcycle under a new brand in the next few months.

However, the brand name and the price of the E-bike are yet to be announced.

By providing an electric motorcycle, which can run up to 150 km on a full charge, Sharma intends to take on the petrol-run products from conventional two-wheeler biggies such as Hero Moto, Bajaj Auto and TVS.

“This will not only be an environmentally-efficient product but will provide hugely low running-cost to the users,” Sharma told TOI.

For the project, he has built an R&D team comprising 45 members and he is investing about Rs 500 crore into the project.

Sharma’s e-bike to be first introduced in Delhi

As revealed by Sharma, the electric motorcycle would be produced at the company’s Manesar factory.  While the battery cells and two-wheeler motor will be imported, most probably from China, the EV control unit would be made in India.

Sales are expected to start by June-end, and the motorcycle would be first introduced in Delhi. The sales model will comprise both franchisee outlets as well as online platforms, he added.

The new electric bike would compete against would compete against the existing players like Ather Energy, Hero Electric and Tork Motorcycles and Avan Motors among others.

 

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