According to a top company official, electric two-wheeler manufacturer BGauss Auto Pvt Ltd plans to invest roughly Rs 40 crore to quadruple production capacity to 2 lakh units yearly by next year. After two years, the company expects to have five to six items in the high-speed electric scooter market. In three years, it hopes to capture roughly 8%-10% of the fast-growing electric two-wheeler industry.
Hemant Kabra, Founder and Managing Director of BGauss Auto, said, "This year, we are targeting (to sell) around 80,000 to 1 lakh vehicles."
He further said the company's manufacturing plant at Chakan in Pune has an annual capacity of one lakh units at present and can be scaled up to 2 lakh units. With plans to sell around 1 lakh units in the ongoing fiscal, BGauss Auto is now gearing up to increase its capacity to meet future demand.
Asked about investment on capacity enhancement, he said, "We will be investing close to around Rs 40 crore."
In terms of funding, having raised Rs 52 crore in April this year, Kabra said, "At this point in time, we are adequately capitalized."
He said the company presently has two models on the market: a low-speed A2 scooter and a high-speed B8 scooter. BGauss Auto has launched its third model D15 this month in two variants, priced at Rs 99,999 and Rs 1.15 lakh (ex-showroom), with deliveries beginning in June.
"In this fiscal year, we will introduce one additional product. In this fiscal year, we will have four goods in our portfolio, as follows: "He went on to say.
"We've also started planning a product for (launch around) next year Diwali," he added.
He added that within two years, the company will have "a total of five to six products" focused on the high-speed electric scooter category.
In terms of the company's goals, Kabra stated that the electric two-wheeler market will grow rapidly, and that BGauss Auto will "aim close to anything between 8% and 10%" of the market in the next three years.
BGauss Auto is also expanding its network to support its growth.
"We currently have close to 100 dealerships, 52 of which are operational and 48 of which will be operational over the next month...
By March 2023, we hope to have close to 250 BGauss Auto dealerships spread throughout 160 cities "Kabra remarked.