Electric scooter: Kymco enters Indian market with Twenty Two Motors

Over the next three years, Kymco will invest $ 65 million in Twenty Two Motors, an Indian electric scooter startup.

If the two companies did not disclose Kymco's stake in Twenty Two Motors after the investment, the emergence of the Taiwanese brand in the Indian market is the result of increasingly strong political dynamics in this area of ​​sustainable mobility.

Kimko will initially invest $ 15 million in Twenty Two Motors. The remaining 50 million will be gradually invested over the next three years. The companies will launch electric scooters under the 22 Kymko brand, the first model is expected in the current fiscal year.

According to Allen Ko, chairman of the board of directors of Kymco, the market potential for electric two-wheelers in India is now much greater than in China. The leader expects to sell half a million Kymko 22 scooters in India over the next few years.

« We planned to provide Indian customers with smart cars and proper infrastructure with charging stations and efficient batteries. Our partnership with Kymco is the next step in this direction. - Said Praveen Harb, co-founder of Twenty Two Motors.