Odysse Electric Vehicles launches VADER for daily commute

Odysse Electric Vehicles launches VADER for daily commute


Odysse Electric Vehicles, a premium EV manufacturer, debuted the VADER electric motorbike for daily commuters on Friday and announced plans to invest Rs 170 crore in the next two years to fuel its expansion goals.


Odysse Electric Chief Executive Officer Nemin Vora stated that deliveries of the made-in-India e-motorbike will begin in July at an introductory price of Rs 1,09,999 (ex-showroom Ahmedabad). According to the business, the latest car has a Lithium-ion battery that can be fully charged in four hours and is driven by a 3,000-watt electric motor with a top speed of 85 kilometers per hour (kmph) and a range of 125 kilometers on eco mode.

We will be starting deliveries of the e-motorcycle from July and we are looking to sell 15,000-18,000 units of the Vader in its first year of roll-out (July 2023-June 2024). Along with the latest offering we are expecting to end FY24 with a total of 25,000 vehicles,” Vora told PTI.

Odyssey currently has six models (excluding VADER) in its portfolio which included five scooters and one sports bike. The company has a cumulative annual capacity of 30,000 units in a single shift, which can be scaled up to 60,000 per annum with double shifts.

We are also planning to set up a new manufacturing facility with an annual capacity of 1,20,000 units per annum. Though its location is yet to be finalized, we are in discussions with Maharashtra and Gujarat governments for this purpose,” he further added that “Odysse has already invested Rs 24 crore in the business so far and it now plans to invest another Rs 170 crore in the next two years in expansion, including in setting up the new facility.”

According to him, the expansion will be supported by acquiring funds worth Rs 170 crore through stock dilution of up to 25%. In the coming fiscal year, the company intends to launch a new car type as well as upgrade some of its existing models, he said. 

Odyssey expects its topline to more than double to Rs 110 crore in the next fiscal year, up from an expected Rs 39 crore this fiscal year, according to Vora. He also stated that the company’s goal is to have 200 dealerships by March 2024. Odyssey presently operates 70 dealerships across India.

According to the firm, the current bike offers features such as a 7-inch Android touchscreen, Google Maps navigation, 18 liters of storage capacity, Bluetooth connectivity, LED lighting, and regenerative braking, among others.

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Content Credit: Energyworld.com