AlphaVector India Plans Rs 100 Crore Investment in Electric Two-Wheeler Business Over Next Year

AlphaVector India, known for its Ninety One Cycles brand, plans to invest Rs 100 crore in its new electric two-wheeler venture over the coming year. This move is driven by increasing demand for entry-level e-scooters in India. The company anticipates a revenue of Rs 250-275 crore this fiscal year, with growth expected in non-premium and entry-level bicycles as well as the kids' segment.

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The company recently ventured into the low-speed e-two-wheeler market after establishing itself in the electric bike sector four years ago. AlphaVector operates two manufacturing plants: one in Ahmedabad, focusing on bicycles with a monthly capacity of 50,000-60,000 units, and another in Vadodara capable of producing 10,000 scooters monthly.

Investment Plans and Market Potential

Sachin Chopra, founder of AlphaVector India Pvt Ltd, stated that they have already invested over Rs 75 crore in their Baroda facility. An additional Rs 100 crore will be invested over the next year. He noted that there is significant potential for e-scooters as entry-level bicycle buyers are now interested in entry-level e-scooters, while those purchasing geared bicycles are looking towards e-cycles.

The company sold more than 44,000 bicycles in 2024. Its product range includes around 300 SKUs (stock keeping units), with e-scooters priced between Rs 30,000-35,000. These scooters cater to all age groups. The brand's diverse offerings include mountain bikes, fat tyre bikes, hybrid bikes, and electric bicycles (e-cycles), appealing to urban youth, fitness enthusiasts, rural commuters, and eco-conscious families.

Growth Trends and Product Portfolio

Chopra mentioned that the premium bicycle market has stagnated over the past three years post-Covid. However, significant growth has been observed in the non-premium segment. This segment has experienced a remarkable 100 per cent year-on-year increase, particularly in entry-level and kids' categories.

AlphaVector's strategic focus on expanding its electric two-wheeler business aligns with changing consumer preferences. As more people shift towards sustainable transportation options, the company's investment aims to capture this growing market demand effectively.

The company's commitment to innovation and meeting consumer needs positions it well for future success. By investing in manufacturing capabilities and diversifying its product offerings, AlphaVector is poised to strengthen its presence in both the bicycle and electric two-wheeler markets.