The company’s 2024 sales represent a significant achievement for AlphaVector. AlphaVector's Ninety One Cycles brand has sold 3 million bicycles, including a record 440,000 in 2024, and is entering the electric vehicle market with low-speed two-wheelers. The company saw over 100% sales growth in several Indian states, driven by increased demand for affordable and desirable transportation. This success has led to Ninety One's expansion into EVs, leveraging its existing customer base and distribution network.
Ninety One Cycles has become a leading active lifestyle and mobility brand in India. The brand’s bicycles are popular in states like Maharashtra, Gujarat, Uttar Pradesh, Tamil Nadu, and Karnataka. People are using bicycles for both fitness and daily commutes. Ninety One offers a diverse product range, including mountain bikes, fat tire bikes, hybrid bikes, and electric bicycles. This caters to a wide range of consumers, from urban youth and fitness enthusiasts to rural commuters and environmentally conscious families. The company's emphasis on design, engineering, and affordability has attracted customers, especially in smaller cities.
The company’s 2024 sales represent a significant achievement for AlphaVector. They experienced remarkable growth in states like Uttar Pradesh, Bihar, Chhattisgarh, Orissa, and Jharkhand, where demand for reliable transportation is increasing. This success, combined with its existing customer base, forms the basis for AlphaVector's move into the electric two-wheeler market.
“Achieving the milestone of 3 million bicycles sold is a proud and humbling moment for us at AlphaVector. This achievement underscores the trust and confidence our customers place in Ninety One and reflects our unwavering commitment to delivering exceptional mobility solutions. With a steadfast focus on superior design, advanced engineering, and affordability, we are excited about augmenting our customer offering with the foray into the low speed two-wheeler segment. As we forge ahead, we are driven by a vision to revolutionize mobility through innovation and lead the charge in the electric mobility space," said Sachin Chopra, Co-founder & CEO of AlphaVector (India) Pvt. Ltd.
Foraying into electric two wheeler market
Ninety One's move into the low-speed electric two-wheeler market reflects their commitment to meeting their customers' changing transportation needs. AlphaVector has been involved in the electric bicycle segment for the past four years. The expansion into electric scooters aims to provide affordable, innovative, and dependable personal mobility. The company aims to bridge the gap between conventional and electric mobility, particularly in areas where infrastructure development makes electric vehicles a more practical transportation choice.
The low-speed electric vehicle market in India is expanding due to the demand for cost-effective and environmentally friendly transportation. With ongoing infrastructure development in Tier 2, 3, and 4 cities, low-speed two-wheelers are becoming a preferred option for short commutes. They offer a combination of affordability and reliability. This market segment serves a wide range of people, including urban youth, rural commuters, and eco-conscious families looking for sustainable and desirable transportation.
Expansion of current distribution network
Ninety One plans to use its existing distribution network and focus on a similar customer segment to make eco-friendly transportation accessible for diverse groups. This includes urban youth, fitness enthusiasts, and those in rural areas. This expansion aligns with Ninety One's goal of providing innovative and sustainable transportation solutions. They aim to connect conventional and electric transportation options.
Ninety One's success is attributed to its direct-to-consumer omnichannel strategy and the 91CARES program. This program links every purchase to 91 service through a network of over 1,000 retail stores across 500 cities. It provides personalized assembly, servicing, and post-purchase support to improve customer experience and satisfaction. This approach ensures customer support throughout the ownership experience.
Ninety One's expansion into the electric scooter market signifies a strategic move to capitalise on the growing demand for affordable and sustainable transportation. Their established presence in the bicycle market, coupled with a robust distribution network, positions them well to compete in this expanding sector. The company's commitment to innovation and customer service suggests a strong potential for success in this new venture.
