Electric scooter maker Enigma expects Rs 15 crore revenue this fiscal year, Auto News, ET Auto
Enigma Automobiles, which accounts for 30% of the electric vehicle market in its home port of Bhopal, closed the 2020-21 fiscal year with a turnover of Rs. 5 crore and plans to triple it to Rs. 15 crore. this year.
“We are seeing a growing acceptance of electric scooters by some users as an environmentally friendly and cost effective means of travel in cities. We are on track to close this fiscal year with a turnover of 15 crore rupees, ”said Anmol Bohre. , founder, Enigma Automobiles.
The company plans to expand beyond Bhopal to other cities in Madhya Pradesh in the coming months. It currently offers three models of electric scooters – Crink, GT-450 and Ambier – and plans to launch three high-speed scooters ahead of Diwali. While the immediate focus continues to be on Madhya Pradesh, Enigma also intends to expand to other states in the near future.
Anmol, a computer engineer by profession, founded Enigma Automobiles with his brother Alancrit in 2015. The spirit of doing something against India’s dependence on imported oil, as well as the deadly high pollution levels in several Indian cities, is what led the two brothers to foray into the electric scooter business.
“The first few days were difficult. Two young people were talking about starting an electric vehicle business, and that too in an agrarian state like Madhya Pradesh was not the most compelling proposition for investors or customers. It was a daunting task to educate people about electricity. vehicles at the time, ”Anmol recalls.
But, the two brothers were determined and launched Enigma Automobiles in October 2015 with the support of acquaintances and their personal savings, and haven’t looked back since.
“We were convinced of the potential of electric scooters, and we are happy that we did not give up on our dream. Looking at how electric vehicles are adopted around the world, we are convinced that the sky is our limit,” Anmol said, adding their journey has just started.
The Indian government has launched several initiatives to promote the manufacture and adoption of electric vehicles in India. The government of Madhya Pradesh has also announced an electric vehicle policy to promote the widespread adoption of electric vehicles. In recent weeks, several states like Gujarat and Maharashtra have announced initiatives, including financial subsidies, to encourage the adoption of electric vehicles by more people, and more states are expected to follow suit.
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