British premium electric bike maker GoZero, which has partnered with Kolkata-based Kirti Solar for product development and manufacturing, on Thursday said it plans to invest USD 1 million to expand its presence to India’s northeast market.
GoZero, which has its R&D centre in Birmingham (UK), entered the Indian market in 2019 by setting up its location operations base in Kolkata with Kirti Solar. Its current product range includes One, Mile and Skellig series of e-bicycles. GoZero Mobility is looking to spread its wings to northeastern India with plans to invest USD 1 million and create over 100 jobs in the region in the next three years, the company said in a statement.
The electric vehicle revolution is gathering pace in India and GoZero Mobility has defined an aggressive road map to tap into the opportunity and ride on the increasing popularity of clean vehicles in the country’s northeastern region, it said. GoZero Mobility co-founder Sumit Ranjan said, “India is one the largest two-wheeler and bicycle markets in the world, and northeastern India is a strong market for e-bikes, which so far have remained untapped.”
He added that the company sees significant demand for its products in the region. “Therefore, we see this is an appropriate time for us to expand in the northeast market.” The company is looking to clock 15,000 unit sales annually with its presence in the northeastern region, he said. The proposed investment will be towards creating a large retail flow in the country’s northeast region, and setting up local assembly units to enable faster and same-day deliveries in addition to creating jobs in the region, the company said.
The investment will enable local forces to partner for e-bikes as tourism in this area presents a lucrative opportunity and demand for e-bikes, it said. The company added that GoZero Mobility will also focus on the promotion of these bikes among delivery persons. GoZero works on a futuristic product line to suit the market demand and meet unmet needs, it said.
To introduce the products in the market, GoZero has partnered with Kirti Solar, which has already invested USD 250,000, for the development and manufacturing of current and future products and utilising the global supply chain in the ‘Make-in-India’ mission, it said. GoZero Mobility had launched its flagship performance e-bikes, ‘One’ and ‘Mile’, in Delhi in March 2019, according to the statement.