Odysse Electric Lines Up Two New Launches For 2023; Targets 300% Sales Growth By End-2024

Electric two-wheeler manufacturer Odysse Electric Vehicles has some notable plans to expand its reach in the Indian electric two-wheeler space. In an email conversation with carandbike, Odysse Electric CEO Nemin Vora revealed the company’s plans both in the near term and for the ongoing decade.

The manufacturer is set to expand its line-up for the Indian market with the introduction of two new products in 2023. The first is a new high-speed electric motorcycle which is set to launch on March 30, 2023 followed up by a electric scooter that is expected to arrive later in the year.

Odysse Electric CEO Nemin Vora said that the company is lining up two launches for 2023 with plans to expand its sales network to over 150 dealerships by the end of the year.

“We've set ambitious goals for 2023-2024, with an impressive selection of new products ready to revolutionize the market. Namely, we'll be releasing a New High-Speed Bike and a Scooter, striving to rival the industry's top players,” Vora said.

This portfolio expansion will be accompanied by a growth in dealerships across the country. The company currently has a around 65 dealerships across the country with plans to expand this number to 150 by the end of 2023.

The electric two-wheeler space in recent years has burgeoned in the Indian market with several start-ups joining the segment on an almost yearly basis. Even some legacy brands have entered the fray in recent years such as Bajaj and TVS with Honda too set to reveal it’s EV plans for India later this month.

Odysse is set to launch a new electric motorcycle in India on March 31, 2023.

Dealerships and Market Expansion

“We aim to expand our dealership network to over 150 by the year's end and we anticipate that this initiative will propel our sales figures by at least 300%,” Vora added. The company further plans to have this number grow to over 400 by 2027 while also targeting cumulative sales of 20,000 units a month as well as expanding its sales network to global markets.

“We shall be expanding our footprints to MENA (Middle East and North Africa), Europe and other Asian countries. Our goal is to provide customers with the best possible experience and to make sure that they are completely satisfied with our products and services. We will continue to work hard in order to achieve our goals and we are confident that we will be able to reach them within the timeframe that we have set,” Vora said.

“We are currently in talks with potential business partners in these regions and are confident that this will be a successful venture,” he added.

Odysse is currently only utilising 50 per cent of its production capacity with aims to expand this to 100 per cent by end-2023.

Production Capacity and Growth

Vora revealed that the company currently had ample production capacity to meet demand in the near term in the domestic market with plans in place to increase its existing capacity. He said that the firm’s production facility in India was currently at 50 per cent capacity though he expected the sharp uptake in electric two-wheelers in recent years to help increase this to 100 per cent utilisation by the end of the year.

“Our current production capacity of 2500 units per month per shift can easily be expanded to 5000 units by adding a second shift. We are now running at 50% utilization of our capacity, but we expect to be at full capacity by the end of the year.”

He also confirmed that Odysse was set to expand its manufacturing operations in India via a new state-of-the-art facility to further cater to demand.