The Hindu Business Line
FuelADream unveils electric bike
Crowdfunding platform plans to make 400 cycles a month
Crowdfunding platform FuelADream unveiled its electric bike.
Called e-RideLite, this bicycle comes in two models, which through a single charge can go for 50 km and 90 km, respectively. The bike is powered by a LiON battery, can be charged normally and is priced at ₹25,900 and ₹ 37,900 for the two models.
“With this initiative, we are looking to raise ₹10 lakh and also want to create a benchmark for a product in this category, which is priced higher and only assembled in India,” said Ajeet Kumar, founder of e-RideLite bike.
In comparison, a Sanyo e-bike is priced at ₹95,900 on the Amazon India website. One of the main reasons for E-RideLite to price it at this range is due to practically lesser working capital, coupled with no inventory to manage. Here is how it works. A person pre orders the bike on the FuelADream website and then Kumar starts building it.
“Currently, we manufacture it from Ghaziabad as it is easier logistically as well as there is availability of raw materials,” he says.
Around 400 components — from ball bearing in the tyre to the LCD on the handle, most of which are built in India. “Only LiON battery and some other materials are imported,” says PA Ram Prasad, Cheif Marketing Officer, FuelADream.
At present, e-RideLite is planning to make 400 cycles a month and is confident that it can manufacture 10,000. “After that we would need the help of robots for the scale,” says Kumar.
The bike comes with all the bells and whistles. There is a place holder to help a mobile phone to charge and an LCD speedometer on the handle. Then there is the double valve alloy RIMs, 6 gears, shock absorbers, suspension disc brakes, mud guard and an option to remove the LiON battery.
Asked about the after sales and service, Kumar said the company is offering a one-year warranty and apart from some of the components most of it can be fixed by neighbourhood bicycle repairman.
The global market for e-bikes is dominated by China, with an estimated 85 per cent of e-bikes sales coming from the region. Macquarie estimated that, in 2013, there were 180 million ebikes on the road in China and in comparison US sold 185,000 e-bikes.