Noting that the potential for e-scooters is a lot more, he said entry-level bicycle consumers are now looking for the entry level e-scooters and when it comes to geared bicycles, these bicycles buyers are looking for e-cycles.AlphaVector, the manufacturer of Ninety One Cycles brand, is planning to invest Rs 100 crore in the newly launched electric two-wheeler business over the next 12 months as it sees a rising demand for entry-level e-scooters in the country. He said the company is expecting to deliver a topline of INR 250-275 crore this fiscal year, driven by growth in the non-premium and entry-level bicycles as well as in the kids' segment.
The company earlier this month announced its entry in the low-speed e-two-wheeler segment after establishing its presence in the electric bike business, which it started four years ago.
The company has two manufacturing facilities - one in Ahmedabad, which is focussed on bicycles with a production capacity of 50,000-60,000 per month, and another in Vadodara that can churn out 10,000 scooters a month.
"The investment we have done in our Baroda factory is north of about INR 75 crores and we will be investing another INR 100 crore in this over the next 12 months," AlphaVector Pvt Ltd founder Sachin Chopra told PTI.
Noting that the potential for e-scooters is a lot more, he said entry-level bicycle consumers are now looking for the entry level e-scooters and when it comes to geared bicycles, these bicycles buyers are looking for e-cycles.
"We sold over 440,000 bicycles in 2024. We have the entire portfolio with about 300 SKUs (stock keeping units)," he said, adding that the e-scooter, priced around INR 30,000-35,000, can be used by people of all age groups.
The brand's diverse product portfolio, including mountain bikes, fat tyre bikes, hybrid bikes, and electric bicycles (e-cycles) catering to a broad demographic, ranging from urban youth and fitness enthusiasts to rural commuters and eco-conscious families.
He added that the premium bicycle business has actually flattened out over the last three years post-Covid and most of the growth has come in the non-premium business - which has seen tremendous growth of 100 per cent year-on-year - or the entry-level and the kids segment.
