Within two years since its inception, the leading electric bicycle manufacturer EMotorad has exported more than 52k e-bicycles to more than 18 countries across the globe.
leading manufacturer of electric bicycles EMotorad has recently announced the achievement of another milestone of achieving international profitability. The electric bicycles’ manufacturer has achieved a profit of $2Mn within two years of inception internationally.
This is a significant milestone for the company and reflects its dedication to delivering high-quality, innovative products that meet customers’ needs worldwide. The India based e-bicycles’ manufacturer has exported over 52k electric bicycles in more than 18 countries out of which the USA region has proven to be the top performer.
Delighted with the announcement, Rajib Gangopadhyay, MD & Founder of EMotorad, said, “We are proud to have become the fastest-growing e-bike brand in such a short amount of time. Our target is to become the number one Indian e-bike brand by 2024, and we are well on our way to achieving that goal.”
EMotorad started its first expansion into international market with the UAE and Nepal. The company’s e-bikes were well-received by consumers in these markets, and this success propelled the company to expand into other regions such as Japan, Europe, Australia, and more than 18 other countries. The business growth is highly driven by its ability to provide e-bikes that are both innovative and premium and are available across different price points.
The global e-bike market is projected to register a CAGR of 6.96% between 2023 and 2028. This directs the market’s interest towards India to build its manufacturing backbone. Considering the shift to Indian manufacturing capabilities, EMotorad is receiving tremendous demand from global companies to provide them with high-quality e-bikes that were previously being imported from China.
Despite its success in international markets, EMotorad remains committed to its home market of India. The company continues to invest heavily in the Indian market and has recently launched a range of premium, affordable, and versatile e-bikes designed specifically to meet the needs of Indian consumers.
“We are excited to continue developing new geographies and dominating those markets with our Made in India e-bikes. Our commitment to quality, innovation, and customer satisfaction remains at the heart of everything we do, and we look forward to continued growth and success in the years to come,” he added.
EMotorad’s rapid growth and profitability in the international market is a testament to the company’s unwavering commitment to delivering high-quality, innovative products that meet the needs of customers around the world. As the company continues to expand and develop new markets, it is clear that EMotorad is a force to be reckoned with in the world of electric bikes.