Aspirational EV Export Startup Raising Funds In Chennai
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Product / Service
They intend to launch a trading enterprise specializing in electric bikes, three-wheelers, tractors, boats, and retrofit kits for the African market. Furthermore, they have ambitions to initiate in-house manufacturing of these products.
Clientele type
They have successfully secured a monthly order of 100 vehicles from an African importer.
Premises
They have established partnerships with 2-3 manufacturers who will provide white-labeled products, allowing these items to be marketed under their own brand name and subsequently exported to Africa through their distribution network.
Asking Price Includes
They will offer profit share in the business, and the percentage will be discussed with the potential investors.
Reason
In this round of funding, They are seeking funds to get the orders from the supplier and export it to the buyer.
Other Details
One partner brings over 20 years of specialized experience in the electric vehicle field, overseeing operations. The other partner boasts over two decades of expertise in marketing and sales. Additionally, the promoter has accumulated 3 years of valuable experience as a quality engineer at a major two-wheeler manufacturing company.
Their goals are business development in two phases:
Phase - I
--Establishing the Company
--Setting Up Offices in Chennai and Togo/Benin
--Securing Suppliers with Optimal Cost-efficiency
Phase - II
--Establishing a Warehouse and Factory in Chennai
--Triggered by Reaching a Monthly Export Volume of 500 Vehicles
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₹10 to ₹200 Cr
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