/
•
•
Taking the EV manufacturing route to Bounce back
The Bengaluru-based ride-sharing platform’s fresh bet has a lot to do with the pandemic and struggles with contract manufacturing. Will investors buy its logic?
14 October, 2021•9 min
0
14 October, 2021•9 min
0
Getting your Trinity Audio player ready...
Why read this story?
Editor's note: Electric two-wheelers are all the rage in the Indian startup ecosystem this year. Ola Electric has started sales of its S1 scooters, Ather Energy is moving ahead with launches in multiple cities and traditional manufacturers like Bajaj Auto and Hero MotoCorp are also considering a larger push into the electric vehicle space. In the midst of this comes news that Bengaluru-based scooter-rental platform Bounce is now making a foray into EV manufacturing with the acquisition of Gurugram-based startup 22Motors. This basically means that Bounce is making a retail play—manufacturing and selling electric vehicles to consumers and competing with the likes of Ola Electric, Ather Energy and Hero Electric—in addition to its dockless scooter business. (Think Uber selling cars.) In an interview with YourStory last week, Bounce co-founder Vivekananda H.R. confirmed they had acquired 22Motors for building electric two-wheelers. “We are going into an OEM play. Here too, people can buy the scooter without the battery, and come back to us for the swapping infrastructure,” he added. OEM is short for original equipment manufacturer. It’s not a big acquisition, given the …
More in Internet
Internet
Exponent Energy's next test is business, not tech
The Bengaluru-based startup has expanded into EV retrofitting and lending after trying to make it as a pure-play charging company. Can it find any takers this time around?
You may also like
Business
The race to acquire debt-laden IFFCO
The food and FMCG giant is set to be put into provisional liquidation. Abu Dhabi’s IHC and Emaar founder Mohamed Alabbar are now eyeing it.
Business
A localization push in the Emirates
A whole host of new deals at the Make it in the Emirates summit, Saudi Arabia’s widest deficit since 2018 and other updates from the week.
Internet
India’s Faustian deal with Tesla
In paving the way for Tesla to sell its cars in the country with reduced duties, India comes across as partisan and a country that can be bullied into acting against its own interests.
