“This year we plan to (sell) about 80,000 to 1 elbow cars,” BG’s car Founder and CEO of Hemant
He also said that the company’s manufacturing plant in Chakan in Pune currently has an annual capacity of one lakh units and could be increased to 2 lakh units. Planning to sell about 1 lakh units in the current fiscal year, BGauss Auto is now preparing to increase its capacity to meet future demand.
Asked about investing in capacity, he said: “We will invest about 40 million rupees.”
In terms of funding, raising 52 rupees in April this year, Kabra said: “At this point in time, we are sufficiently capitalized.”
As for the product, he said that the company currently has two products on the market – low-speed scooters A2 and high speed B8. This month he released his third model D15 in two versions priced at Rs 99,999 and Rs 1.15 (former Exhibition Hall) respectively and deliveries will start in June.
“This financial year we plan to launch another product. So, this financial year we will have four products in our portfolio,” he added.
He also said: “We also started developing a product for Diva next year.”
The company will have “just five or six products in two years” that focus on the high-speed electric scooter segment, he added.
Commenting on the company’s ambitions, Cabra said the electric two-wheeler segment will expand exponentially, and BGauss Auto will “approach just 8 to 10 percent” of the market over the next three years.
BGauss Auto is also accelerating the expansion of its network to stimulate its growth.
“Now we have about 100 dealerships, 52 active and 48 will be active until next month … We plan that by March 2023 we should have about 250 dealerships in 160 with a surplus of cities,” said Cabra.
Asked if the company plans to go beyond two-wheeled vehicles in the electric vehicle segment, he said: “Over the next three years, we will follow two-wheelers.”