Kabira Mobility, an electric bike manufacturer in India known for its KM3000 and KM4000 models, announced that it has secured a $50 million investment from its strategic investor, Al-Abdulla Group (Qatar) at an undisclosed valuation to accelerate its pan-India growth and ramp up the production of electric bikes.
To accommodate this growth, Kabira Mobility will expand its manufacturing infrastructure by scaling up its manufacturing capacity at its Dharwad plant in the state of Karnataka and setting up a state-of-the-art electric bike manufacturing plant in Uttar Pradesh to meet the growing demand of the North Indian market
In addition, Kabira Mobility is planning to significantly expand its national presence by ramping up its store network from 30 to 100 by the end of the year. This expansion strategy aims to not only increase customer traffic, but also provide a premium retail experience that will ultimately translate into higher sales and greater market share.
In line with its growth strategy, Kabira Mobility is intensifying and reinforcing its dedication to innovation and investing in research and development for its products. The company is committed to developing the next generation of powertrain and battery pack technology for its upcoming electric bike models, and is ramping up efforts in this area. The aim is to create products that are not only high-performing but also energy-efficient and environmentally friendly.
Furthermore, Kabira Mobility will also be introducing a range of new products that are set to raise the bar of Electric Bikes in the industry. The KM5000, an electric cruiser bike with a range of 330km, is one of the flagship models that will be launched soon. In addition to this, the Pro variants of the KM3000 and KM4000, featuring mid-drive powertrain and industry-leading specs, will also be released. These launches will be consolidating Kabira Mobility's standing as a frontrunner in the industry and raise the bar of Electric Bike Industry in terms of performance, and design.
During the event, Jaibir Siwach, CEO of Kabira Mobility, expressed, "Electric bikes are set to be the catalyst for growth in the industry and with this investment, Kabira Mobility is poised to lead the charge. Our relentless focus on R&D for the past five years on powertrain & technology development has paved the way for Kabira Mobility and will enable us to capture almost 30% of the electric bike segment and emerge as an industry leader in the next 02 years.”
Also present at the event, Manoj George, CEO of Al-Abdulla group, stated, "India holds immense potential and is poised to become the manufacturing hub for the global E2W market. Our investment in Kabira Mobility is aligned with Al-Abdulla group's vision of investing in the renewable energy sector and supporting sustainable mobility solutions on a global scale.”
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