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AMO Electric plans to raise $100 million, plans to introduce new products with swappable batteries AMO Electric to raise $100 mn to expand product range, sales infra next fiscal product preparation

AMO Electric plans to raise 0 million, plans to introduce new products with swappable batteries AMO Electric to raise 0 mn to expand product range, sales infra next fiscal product preparation
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AMO Electric plans to raise 0 million, plans to introduce new products with swappable batteries AMO Electric to raise 0 mn to expand product range, sales infra next fiscal product preparation

AMO Electric plans to raise $100 million, plans to introduce new products with swappable batteries AMO Electric to raise $100 mn to expand product vary, sales infra next fiscal product preparation

By way of sales community, he stated the corporate is concentrating on round 650 dealerships throughout the nation.

Electric two-wheeler firm AMO Electric is planning to raise round $100 million within the next monetary yr. The corporate is specializing in analysis and improvement (R&D) to strengthen its place within the electrical two wheeler market, which can allow it to introduce new products available in the market. Other than this, the corporate additionally intends to expand its manufacturing capability and strengthen its sales construction throughout the nation.

The Noida-based firm presently sells 4 electrical scooters via its sales community of over 150 shops throughout the nation. Sushant Kumar, Founder and Managing Director, AMO Electric, informed PTI, “The electrical two wheeler phase is poised for great progress within the next few years. To strengthen our place, we’re trying to raise round $100 million within the next monetary yr. This may give impetus to our R&D efforts and set us on our approach to be among the many prime three gamers within the business.”

He stated the corporate is in talks with numerous monetary establishments to raise capital. Kumar stated the corporate plans to introduce 4 new high-speed products together with two new products within the present quarter and an electrical bike within the next fiscal. “All of the new fashions could have a pace restrict of 50-85 kmph. There may even be a battery swap possibility.

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By way of sales community, he stated the corporate is concentrating on round 650 dealerships throughout the nation. Kumar stated, “We plan to promote round 1.2 lakh items within the next monetary yr. At current, now we have a presence in about 13 states and two union territories. Within the next monetary yr, we plan to expand to 25 states and 6 union territories.

At current, AMO Electric is providing 5 e-scooties which embrace Jaunty, Inspireer, Jonty-3W (JAUNTY-3W), Feisty and s_pin.


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