Published On:April 17 2024
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"Raptee Unveils First Electric Bike from Chennai Factory"

Chennai-based electric vehicle (EV) start-up, Raptee Energy, has entered the electric motorbike market with the rollout of its inaugural electric bike from its manufacturing plant in Chennai.

Founded in 2019 by four engineers, Raptee Energy aims to provide an electric alternative to the mid-premium motorcycle segment. The company's electric motorcycle features a full-stack design powered by high-voltage powertrain technology, a feature commonly found in the passenger car industry. This technology enables compatibility with CCS2 charging points, allowing the bike to be charged at existing electric car charging stations.

Dinesh Arjun, CEO and co-founder of Raptee, announced that the assembly line in Porur, Chennai, has commenced production and is operating at full capacity. He stated, "The plant has a capacity of around one lakh units, but we intend to take it slow in the beginning." The initial batch of motorcycles will undergo rigorous testing, including ARAI certification and on-road safety checks, before a commercial launch, likely within the quarter.

Jayapradeep Vasudevan, Chief Business Officer of Raptee, outlined plans to establish distribution networks across India, starting from Chennai. The company will adopt a hybrid approach, utilizing both online and offline channels. The electric bike is expected to be priced around ₹2.5 lakhs.

Raptee Energy established its manufacturing plant alongside its R&D center in Chennai in June 2023, with an initial investment of ₹85 crore. The company also manufactures its own battery packs and has a dedicated assembly line for this purpose.

To date, Raptee Energy has raised approximately $5 million in funding from a combination of venture capital firms and high-net-worth individuals. The start-up is currently in the process of securing a new round of funding as it prepares for commercial launch. Additionally, Raptee plans to inaugurate its first store in Chennai, serving as both a point of sale and a brand experience center.

While electric scooters dominate the electric two-wheeler category in India, Raptee Energy joins the ranks of EV motorbike makers such as Ultraviolette, Revolt, and Tork, aiming to capture a share of the market.

HBL





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