February 8, 2018 6:46:21 pm
Startup Emflux Motors on Thursday showcased at the Auto Expo the prototype of its electric sports bike Emflux One, which is slated to hit Indian roads in April 2019. The Emflux One is powered by a 9.7kWh Lithium-ion battery and can go up to a maximum speed of 200 km/hour.
Emflux Motors, set up in 2016, is also looking at raising $5 million funding in the next few months to fuel its expansion plans. “We are a team of 25 young engineers and designers. The pre-production prototype showcased here will hit Indian roads in April 2019. We expect the standard model to be priced at Rs 6 lakh,” Emflux Motors co-founder and CEO Varun Mittal told PTI. He added that another model with three performance upgrades is expected to be available for Rs 11 lakh.
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The Bengaluru-based startup has raised about $500,000 from angel investors like Transfin founder CEO Nikhil Arora, Narendra Sujan, Samar Singla (Click-Labs co-founder) and others. The designing of the electric bike has been done in-house and the assembly will also be done locally.
“Since we aren’t looking at large-scale production, the assembly will be done locally. We plan to produce 199 units of Emflux One for Indian market and another 300 for exports,” Emflux Motors co-founder and chief designer Vinay Raj Somashekar said. Mittal said the company is in talks with various investors to raise about $5 million in funding. He added the funding will help the company in its expansion plans and is expected to be closed by June this year.
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