Warivo Motor India Accelerates with High-Speed Electric Scooters
Warivo Motor India is set to propel its revenue to Rs 120 crore this fiscal year, driven by the launch of its new high-speed electric scooter, the CRX. Shifting from its previous focus on low-speed scooters, the company aims to capture a significant share of the high-speed market with this strategic move. The CRX, priced at Rs 79,999 (ex-showroom), marks Warivo’s entry into this competitive segment.
CEO Shammi Sharma highlighted the company's ambition to boost volumes with the CRX, signaling a major pivot in their product strategy. Alongside the CRX, Warivo plans to introduce a bridge product to transition between low-speed and high-speed models, as well as a premium high-speed scooter. The company targets a remarkable 90-100% growth in topline revenue over the next three years.
Warivo's manufacturing unit in Ellenabad, Haryana, with a daily capacity of 600 units, is geared up to meet the anticipated demand. The company aims to sell approximately 8,000 CRX units in FY25, with a significant focus on South India. Sharma emphasized the importance of this region, noting that the company plans to achieve at least 8,000 units in sales for the CRX from next month until March next year.