Warivo Motor India Accelerates with High-Speed Electric Scooters

Warivo Motor India plans to double its revenue to Rs 120 crore this fiscal year by launching a high-speed electric scooter, CRX. The company, previously focused on low-speed scooters, aims for significant growth through the new segment, with ambitious sales targets and expansion plans in South India.

Electric two-wheeler startup Warivo Motor India aims to nearly double its revenue to Rs 120 crore this fiscal year, driven by its entry into the high-speed electric scooter market, according to top officials.

Previously focused solely on low-speed scooters, the company launched its high-speed scooter CRX, priced at Rs 79,999 (ex-showroom), on Friday. 'With the CRX, we are venturing into the high-speed segment, which will help us increase volumes,' said Warivo Motor India CEO Shammi Sharma.

The company is also planning to introduce a bridge product between low-speed and high-speed scooters and a top-end high-speed scooter. Warivo Motor India Director Rajeev Goel indicated that the company targets a 90-100% topline growth over the next three years. With a manufacturing capacity of 600 units a day in Ellenabad, Haryana, the company aims to sell around 8,000 units of the CRX in FY25.

South India, considered a mature market, is a key area for expansion. 'Starting from next month until March next year, we aim to clock no less than 8,000 units in total for the CRX,' Sharma added.