British company Zapp EV is expanding globally, starting with India. The company has unveiled its plans for India, given that the world's most populous country has the potential to sell millions of two-wheeled vehicles annually.
Writes UNN with reference to TechCrunch.
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Zapp Electric Vehicles wants to turn its London-based electric two-wheeler brand into a global electric vehicle company. And India will be one of its launch platforms.
According to TechCrunch, Zapp EV will launch its first product, an urban electric two-wheeler called the i300, in the UK next month, followed by Thailand. Now the company is adding India to its plans, a huge market that will be a real test of its international global expansion strategy. Zapp's founder and CEO Swin Chatsuwan said in an interview.
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Zapp has appointed Indian electric two-wheeler manufacturer Bounce Electric 1 as its contract manufacturer to produce and sell the i300 locally in the country. Sales will begin in 2025. The UK-based company aims to have a minimum capacity of 5,000 units per year in India as part of its global target of 25,000 units by 2026.
Of the 17 million two-wheelers sold in India last year, 2.8 million were high-speed vehicles, and 36% of those high-speed vehicles were heavy cruiser motorcycles from the Chennai-based Royal Enfield brand. Zapp wants to replicate Royal Enfield's success with its pass-through model, which was first introduced in 2018.
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