We estimate e-bike market to reach 2 million units by 2022: Ankit Kumar, GoZero Mobility

www.newsbarons.com

British premium electric bike manufacturer ‘GoZero Mobility’ recently launched its two flagship products “One” and “Mile” performance e-bikes in India and has chartered out an aggressive growth plan with 18 experience centres, 80 channel partners targeting 1000+ retailers and online sales to expand its retail network in the next couple of years.

Headquartered in Birmingham, GoZer Mobility has partnered up with Kolkata based Kirti Solar for the development and manufacturing of current & future products, with an initial capacity of 20,000 units per annum. As a part of the association, Kirti Solar has invested USD 250,000 in GoZero Mobility. The partnership is aimed to make India as an export hub for global sales of GoZero E-Bikes.

Manish Joshi from NewsBarons connects with Ankit Kumar, CEO & Founder, GoZero Mobility who informs ‘By 2021, GoZero Mobility plans to have 18 experience centres across the country and these centres will be retail centre for electric bikes, merchandise and accessories, after sales desk and test drive enabled’.

NB: How big do you estimate the Indian e-bike market to be by 2022?

Ankit: We estimate the e-bike market to reach 2 million units by 2022 contributing to 10% to the overall bike market.

NB: Tell us about your e-bikes?

Ankit: We have launched two flagship products in India “One’ and ‘Mile’.

www.newsbarons.comGoZero One is priced at INR 32,999 and is powered with 400Wh lithium EnerDrive battery pack, which is optimized to provide 60 Kms of range on single charge. GoZero Mile is priced at INR 29,999 is powered with 300Wh lithium EnerDrive battery pack, which will provide a 45 kms range.

Both are specialized performance e-bikes providing optimum stability and comfort and come with multi-modes of operation giving users freedom to choose the way of riding. Both the e-bikes come with lockable battery pack which makes it very convenient to charge & carry.

NB: What is the total number of e-bikes you plan to sell in 2019?

Ankit: As 2019 is the first year of operations for us in India, we had earlier estimated to sell around 3000 units but looking at market response, we have now revised our estimate to sell about 6000 units. We have our hands full with order/deliveries upto September this year.

NB: You have announced plans to launch lifestyle merchandising segment in India?

Ankit: Lifestyle merchandise segment is a very high potential market and is pegged at approximately USD 1.1 billion and growing at 15% y-o-y. We are looking to launch our signature collection by the end of this year and estimate that the merchandise segment would contribute around 15% to our total revenue.

NB: What has been the total investment in India?

Ankit: As of now, we estimate to invest USD 250,000 in the Indian market. The investment is focused towards marketing and manufacturing.

NB: What is your geographical presence? Please inform about your expansion plans?

Ankit: We have already opened sales in Eastern and Northern India through our channel partners and are aiming to open up in Southern and Western markets in the next couple of months. Along with offline channels, we are also going to enable online sales through leading e-commerce platforms. We are aiming to soon open 18 experience centres pan India.

NB: What are the major opportunities and challenges in launching e-bikes in India?

Ankit: We see major opportunities involved in the Indian market with respect to e-bikes. It is a high potential market with increasing share of premium bicycles. We have rightly positioned in the segment between bicycles and scooters/motorcycles.
India is a price driven market. We are, therefore, concentrating on a particular segment of customers.

NB: There are multiple domestic and international manufacturers who already have presence or are looking at launching similar products in India. How is GoZero looking at competing with them?

Ankit: At GoZero, we believe in keeping a healthy competition. This not only helps the industry to grow but also pushes us to deliver better products and rightly fit the need/demand of the consumers. One of the reasons, we launched the products first in India (before the UK market), is based on the fact that this is a new product for a market like India and hence would amaze people to go for it. We see that happening now.

NewsBarons is now active on WhatsApp. To receive news and updates on your handset, please click here and press send to subscribe.

Manish Joshi
He has a work experience of nearly two decade and has been a part of various industries like Mortgage Finance, Retail F&G, Retail F&B, Real Estate and Hospitality. An avid reader, he prefers writing on business, technology and advertising. A traveler by heart and a part time writer, he is looking at publishing his first novel next year.
mj@newsbarons.com
banner4