Raptee Energy CEO and co-founder Dinesh Arjun says they plan to roll out electrical motorbikes by May finish or early June.
| Photo Credit: Special Arrangement
EV bike start-up Raptee Energy is planning to raise $19 million from new and present traders to fund enlargement plans, a high official mentioned.
“Last time, we raised $4.5 million and this will enable us to launch our maiden e-motorbike and thereafter, we need funds for production ramp-up, dealership expansion and roll out of e-bikes in other States,” CEO and Co-Founder Dinesh Arjun mentioned.
The start-up was speaking to a number of personal fairness traders, he mentioned, including they’d already rolled out production-ready e-motorcycle from the Chennai plant. Commercial launch will occur by May/June. In the primary yr, the e-motorcycles could be bought in Chennai and Bengaluru.
Raptee Energy additionally plans to open up the primary firm owned and operated retailer in Chennai. After 12 months, it will enter Bengaluru, Kochi, Hyderabad, Pune and Gurugram. It will undertake on-line and offline channels for distribution.
Mr. Arjun mentioned the corporate made its battery packs whereas cells have been procured from two completely different sources. Currently, it has a single platform that may produce two variants in three colors.
The preliminary manufacturing capability is pegged at 9,000 models per thirty days. However, the corporate plans to ramp up its manufacturing in a gradual and staggered method.
Regarding the e-bike, the primary batch will endure rigorous testing and homologation processes, together with ARAI certification and road-safety checks. The bike got here with a portfolio of patented applied sciences and improvements and is appropriate with CCS2 charging factors.
Mr. Arjun mentioned the current mannequin will compete with the likes of 250cc Pulsar and Royal Enfield priced at ₹2.50 lakh. After a yr, Raptee Energy plans to produce e-bikes equal to 150cc and 350 cc motorcyles.