Warivo Motor India Accelerates with High-Speed Electric Scooters

Warivo Motor India plans to double its revenue to Rs 120 crore this fiscal year by launching a high-speed electric scooter, CRX. The company, previously focused on low-speed scooters, aims for significant growth through the new segment, with ambitious sales targets and expansion plans in South India.

Electric two-wheeler startup Warivo Motor India aims to nearly double its revenue to Rs 120 crore this fiscal year, driven by its entry into the high-speed electric scooter market, according to top officials.

Previously focused solely on low-speed scooters, the company launched its high-speed scooter CRX, priced at Rs 79,999 (ex-showroom), on Friday. 'With the CRX, we are venturing into the high-speed segment, which will help us increase volumes,' said Warivo Motor India CEO Shammi Sharma.

The company is also planning to introduce a bridge product between low-speed and high-speed scooters and a top-end high-speed scooter. Warivo Motor India Director Rajeev Goel indicated that the company targets a 90-100% topline growth over the next three years. With a manufacturing capacity of 600 units a day in Ellenabad, Haryana, the company aims to sell around 8,000 units of the CRX in FY25.

South India, considered a mature market, is a key area for expansion. 'Starting from next month until March next year, we aim to clock no less than 8,000 units in total for the CRX,' Sharma added.

(With inputs from agencies.)