Bounce is all set to launch its first electric scooter – the Bounce Infinity. This advanced ‘Made in India’ scooter will come equipped with enhanced state-of-the-art equipment and intelligent features. Pre-bookings for the Bounce Infinity will begin soon, with deliveries expected to start by January 2022.
The Bounce Infinity boasts a smart, removable Li-ion battery, which customers can take out and charge as per their convenience and requirement. Moreover, with the Infinity, Bounce is offering a unique ‘Battery as a service’ option – the first of its kind in the Indian market. Here, customers have the option to purchase the Bounce Infinity at a highly affordable price without the battery and use Bounce’s battery swapping network instead. Customers pay for the battery swaps, whenever they exchange an empty battery with a fully-charged one from Bounce’s swapping network. This pushes the running costs of the scooter down substantially, by as much as 40 per cent compared to conventional scooters.
Since batteries can account for anywhere between 40 and 50 per cent of an electric scooter’s cost, removing the price of the battery makes the acquisition of an electric scooter easy on customer pockets. This will drive faster adoption of electric scooters in the Indian market. In parallel, Bounce is rapidly building a wide battery-swapping network, which will serve both its retail customers and its successful ride-sharing business.
Bounce had acquired a 100 per cent stake in 22Motors in a deal valued at about US$7 million in 2021. As part of the deal with 22Motors, Bounce acquired its manufacturing plant at Bhiwadi, Rajasthan and intellectual property. The state-of-the-art plant has a capacity to manufacture 180,000 scooters per year. Considering the potential of the Indian market, the company is planning to set up another plant in southern India.
Bounce has set aside US $100 million to be invested in the EV business over the next one year.