The company's current lineup of electric scooters includes the Astrid Lite, Ryder and the recently launched Ryder SuperMax, all of which are priced under the Rs 1 lakh mark.
25 May 2023 | 3542 Views | By Manobhava Baruah
Gemopai, a joint venture between India’s Goreen E-Mobility and China’s Opai Electric, sets sights on achieving revenue of over US$100 million by FY2025-26. To accomplish this, the electric two-wheeler maker plans to introduce 4-5 new cost-effective models, expand its network of dealerships to 1,000, and leverage government initiatives to bolster electric vehicle manufacturing and adoption.
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Gemopai, a joint venture between India’s Goreen E-Mobility and China’s Opai Electric, sets sights on achieving revenue of over US$100 million by FY2025-26. To accomplish this, the electric two-wheeler maker plans to introduce 4-5 new cost-effective models, expand its network of dealerships to 1,000, and leverage government initiatives to bolster electric vehicle manufacturing and adoption.
In an interaction with Autocar Professional, Amit Raj Singh, Co-Founder and MD, Gemopai said, “Our target market is the entire ICE engine market. As of now, we have 150+ touchpoints across India. This year we want to double up the number to 300. We are looking at major expansion in this financial year. We are also in talks with potential dealership partners for opening up Gemopai dealerships in their respective cities. We are also looking to enter the D2C segment and are looking for potential partners to open up service centres for after-sales services across India".
Currently, the company has achieved 70% localisation of its products, with a focus on manufacturing key components such as motors and controllers in-house. By sourcing or manufacturing 100% of the components locally in the near future, Gemopai aims to ensure a reliable and cost-effective supply chain, reducing dependency on imports and enhancing the overall competitiveness of its offerings.
Speaking on production capacity and expansion plans, Singh added, “We have 2 plants, with a capacity of producing 50,000 units each year. We are planning to open another plant in South India in order to meet the scaled-up demand”.
In a highly competitive market dominated by established players such as Ola Electric, Ather Energy and Bajaj Auto, the company aims to stand out by offering affordable pricing. The company's strategy revolves around pricing its products under the 1 lakh range, ensuring that they are on par with internal combustion engine (ICE) two-wheelers. By addressing the cost barrier, Gemopai aims to accelerate the adoption of electric scooters and appeal to a wider consumer base.
Gemopai's current lineup of electric scooters includes the Astrid Lite and the Ryder. The Ryder SuperMax, their latest offering, features a top speed of 60 km/hr, and a range of 100 kilometers on a single charge. Looking ahead, Gemopai has plans to develop new models within the next two years, with a focus on improved features such as advanced battery technology, enhanced connectivity, and reduced per/kWh consumption.