Electrical Vehicles Company Investment Opportunity in Nashik, India

- Manufacturer and retailer of 2W electric vehicles.

- Present across 29 locations in Maharashtra and Gujarat.

- Over 4,000+ EV scooters sold.

- Recently certified under FAME 2 subsidy, only 15 out of 700 EV two-wheeler companies in India have the prestigious FAME 2 certification, and this company has it for its flagship model.

- The latest model that will be launched soon will have the biggest ever display in an electric scooter.

- Technology patent applied and is under process.

- Several other technologies and design patents are slated to be applied for their upcoming motorcycle, which will be the first of its kind.

- The company has developed a smart ecosystem that connects a customer to their scooter through a mobile app on which the user can see all vital vehicle information on their phone.

Currently have two models of two-wheeler electric scooters.

Currently an asset lite company that has invested about INR 25 lakhs in assets required to assemble the electric 2-wheelers.

The company has a warehouse in Nashik, Maharashtra. This is an assembly unit and parts are sourced from third parties.

At the inception, the company raised capital of INR 1 crore and also raised debt funding of INR 0.75 crore through CJTSME.

Currently, the business is bootstrapped. The company also raised total debt of INR 1 crore from the CGTMSE scheme. This is the total capital invested to date. The business is owned by the three co-founders in a shareholding split of 30%, 30%, and 40%.