GoZero Mobility to invest $1 million in expansion in India’s Northeast market
British premium electric bike manufacturer GoZero, which has partnered with Kolkata-based Kirti Solar for product development and manufacturing, has announced it plans to invest $1 million to expand its presence to India's northeast market.
GoZero, which has its R&D centre in Birmingham (UK), entered the Indian market in 2019 by setting up its location operations center in Kolkata with Kirti Solar. Its existing product range includes One, Mile, and Skellig series of e-bicycles.
GoZero Mobility is looking to spread its wings to north-eastern India with plans to invest $1 million and create over 100 jobs in the region in the next three years, the company said in a declaration.
The electric vehicle revolution is picking up pace in India and GoZero Mobility has defined an aggressive road map to tap into the opportunity and ride on the increasing popularity of clean vehicles in the country's north-eastern region, it said.
GoZero Mobility co-founder Sumit Ranjan stated, "India is one the largest two-wheeler and bicycle markets in the world, and north-eastern India is a strong market for e-bikes, which so far have remained untapped."
He added that the company sees substantial demand for its products in the region. "Therefore, we see this is an appropriate time for us to expand in the northeast market."
The company is looking to clock 15,000-unit sales annually with its presence in the north-eastern region, he said.
The planned investment will be towards creating a large retail flow in the country's northeast region and setting up local assembly units to enable faster and same-day deliveries in addition to creating jobs in the region, the company said.
The investment will facilitate local forces to partner for e-bikes as tourism in this area presents a lucrative opportunity and demand for e-bikes, it said.