India: eBikeGo acquires ‘Velocipedo’ brand from Spanish company Torrot in multi-million dollar deal
eBikeGo said it has acquired the rights to manufacture the smart electric trike ‘Velocipedo’ of a leading Spanish automotive company Torrot in India, in a multi-million dollar deal.
With this, eBikeGo now plans to enter the luxury electric three-wheeler industry and aims to manufacture these scooters at its factory in Pune. The acquisition will address a niche in the Indian mobility sector, particularly in the electric vehicle (EV) segment, the company said.
“We are looking for some funding which is in final stage and will start manufacturing ‘Velocipedo’ in India (most probably by March) – localising everything according their requirements and probably the first batch of the EV will go to the European markets, then second batch to the European and US markets and after approval of ARAI (Automotive Research Association of India) we will launch in India (by end of 2022 or early 2023),” Irfan Khan, Founder and Chief Executive Officer, eBikeGo, told BusinessLine.
The acquisition will put the Indian EV industry on the global map, he said adding that the future of mobility is electric and the post-Covid world presents an opportunity for the company to accelerate the adoption of electric mobility globally.
Three basic models
Velocipedo will be produced in three basic models — a personal vehicle, Trick Taxi, and a cargo vehicle, in Pune. The basic model can accommodate two people, has a full cab, and seatbelts and helmets are not required.
The vehicle has a top speed of 95 kmph, a range per charge of 200 km, and a curb weight of 180 kg. It will take 1.5 hours (on 220V outlet) to fully charge the Velocipedo and a regenerative braking feature could add 10-20 percent to the range, the company said.
The 155 kg Velocipedo-C, which is intended for commercial use, has room only for the driver along with enough space to accommodate 70 kg of cargo. This model just has a basic windshield and it will require a helmet to operate, it added.
The ‘Velocipedo’ costs ₹4-5 lakh, but as the European markets are discontinuing with buses run on fossil fuel, such small EVs are in demand for personal mobility, Khan said adding the company will be manufacturing around 36,000 vehicles a year to start with at the Talegaon facility in Maharashtra.
