EMotorad Building World’s Largest Integrated Electric Cycle Gigafactory


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EMotorad, a company in the electric vehicle sector, backed by the renowned cricketer Mahendra Singh Dhoni, is on the brink of establishing the largest integrated electric cycle gigafactory globally. This initiative is poised to follow in the footsteps of Ola as EMotorad expands its existing manufacturing unit located in Pune.

This expansion marks a significant milestone for India, positioning it as the host of two of the world’s largest gigafactories: one dedicated to Ola Electric two-wheelers and the other to EMotorad e-cycles.

Expansion Plans and Manufacturing Capabilities

Spanning an impressive 240,000 square feet in its initial phase, EMotorad’s gigafactory will be responsible for the production of all critical components essential for electric vehicle (EV) manufacturing, including batteries, motors, displays, and chargers.

With an initial production capacity exceeding 500,000 e-cycles annually, the gigafactory aims to cater to the escalating demand for sustainable modes of transportation. The construction of the e-cycle gigafactory is segmented into four phases, with the completion of phase one propelling it to become South Asia’s largest integrated e-cycle gigafactory and the most extensive outside of China.

The commencement of phase one in August will primarily focus on giga component production, with subsequent phases enhancing in-house manufacturing capabilities.

Vision and Global Market Outlook

Kunal Gupta, co-founder and CEO of EMotorad, expressed optimism about the global market potential for electric bicycles, citing its $40 billion valuation in 2022, which continues to surge. Gupta emphasized India’s capacity and technological prowess to establish itself as a significant player in this domain.

EMotorad, founded in 2020, has rapidly emerged as the largest exporter of e-bikes within four years, boasting the largest market share domestically. The surge in the adoption of e-bikes for commuting purposes underscores the growing appeal of sustainable mobility solutions.

Integration of Industry 4.0 Standards and Innovation

EMotorad has embraced Industry 4.0 standards, characterized by smart manufacturing and the establishment of intelligent factories. The company is poised to diversify its product portfolio by introducing a range of electric vehicles developed on advanced Gen-2 platforms, marking a significant advancement in the EV landscape.

Aditya Oza, co-founder and CMO of EMotorad, highlighted the integration of technology solutions into their offerings, such as calorie tracking features, crash detection notifications, and geo-fencing capabilities, enhancing the user experience and safety.

India’s Economic Landscape and Strategic Ventures

India’s position as the world’s fifth-largest economy, fueled by key sectors like information technology, services, agriculture, and manufacturing, presents a fertile ground for companies like Ola and EMotorad to capitalize on domestic market opportunities.

EMotorad’s journey, underscored by strategic investments and partnerships, epitomizes the potential for startups to achieve significant scale and growth, transforming into enduring businesses.

Strategic Funding and Growth Trajectory

EMotorad secured Rs 164 crore in a Series B funding round in November 2023, led by Panthera Growth Partners, demonstrating investor confidence in its vision and capabilities.

The infusion of capital has been instrumental in strengthening manufacturing capabilities, expanding global reach, and advancing research and development efforts. The recent expansion of the gigafactory, fueled by strategic funding allocation, underscores EMotorad’s commitment to sustainable mobility solutions.

Global Expansion and Revenue Projections

With a robust domestic growth rate of 370% last year, EMotorad is poised for global expansion, particularly in Europe and the US. The launch of its cost-effective X-factor range and advanced drivetrain technology positions EMotorad to capture significant market share domestically and internationally.

The company anticipates doubling its revenue to approximately Rs 300 crore for FY25, signaling a promising trajectory of growth and expansion in the electric vehicle segment.

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