AlphaVector's Bold Move: A Rs 100 Crore Investment in E-Scooters

AlphaVector, known for Ninety One Cycles, is investing Rs 100 crore in its new electric two-wheeler venture, catering to the rising demand for entry-level e-scooters in India. The company plans to achieve a revenue of Rs 250-275 crore this year, focusing on non-premium and entry-level bikes.

AlphaVector, the company behind the Ninety One Cycles brand, is making a significant Rs 100 crore investment in its newly launched electric two-wheeler business. This move aligns with the increasing demand for entry-level e-scooters in India.

The company anticipates a revenue of Rs 250-275 crore this fiscal year. This growth will be driven by the non-premium and entry-level bicycle segments, including kids' cycles. Earlier this month, AlphaVector expanded into the low-speed e-two-wheeler segment after strengthening its presence in the electric bike domain.

With manufacturing facilities in Ahmedabad and Vadodara, the company is well-equipped to meet production demands. These facilities produce 50,000-60,000 bicycles and 10,000 scooters per month, respectively. According to founder Sachin Chopra, the investment in Baroda is around Rs 75 crore, with plans to inject an additional Rs 100 crore over the next year.

(With inputs from agencies.)