EMotorad, a Pune-based electric cycle manufacturer supported by cricketer Mahendra Singh Dhoni, is nearing the completion of phase one of its gigafactory in Ravet, Pune. The 240,000-square-foot facility is set to be inaugurated on August 15th, marking a significant milestone as South Asia’s largest integrated e-cycle manufacturing unit.
With a projected capacity to produce 500,000 e-cycles, the factory underscores EMotorad’s strategic expansion plans, particularly targeting European and North American markets. CEO Kunal Gupta emphasized the factory’s pivotal role in India’s economic transformation and the company’s global growth objectives.
Founded in 2020, EMotorad currently commands a 65% share of India’s e-cycle market. The company secured substantial funding in a Series B round led by Panthera Growth Partners in November 2023, with subsequent investment from Dhoni in April. Gupta anticipates robust revenue growth, targeting INR 270 crore in sales by the close of FY25, driven by both domestic and international market expansion.
The completion of the gigafactory’s phase one signifies a milestone in EMotorad’s strategic trajectory, positioning it as a key player in the global electric mobility sector. The company’s innovative approach and diversified product portfolio, including tailored e-bikes for delivery services, underscore its commitment to meeting evolving market demands and advancing sustainable transportation solutions.
