Bounce Acquires Twenty Two Motors, enters retrofitted EV Space
Bounce Acquires Twenty Two Motors, Bike-sharing startup, Bounce is set to completely transition into the EV space. In a conversation with YourStory, co-founder Vivekanda HR confirmed the acquisition of EV startup Twenty Two Motors.
The company has also launched Zunik, a subsidiary focused on retrofitting existing scooters into electric scooters. Vivekanda HR stated that Zunik was created with the aim of converting ‘existing IC engine scooters into EVs.’ Running of ARA approved swappable batteries, these EVs will be getting green boards post conversion. Each battery is set to give a range of 60 km. Bounce already possesses both a large battery swapping infrastructure along with a strong distribution infrastructure.
The switch to retrofits costs about Rs. 1.2 kilometres and thus, according to HR, will save delivery partners over Rs. 4500 per month.
The team is looking to expand its volumes to over 100,000 scooters from the initial pilot of a few hundred, reports YourStory. The acquisition of Twenty Two Motors has set the startup on a fast-track to developing their own line of vehicles. A new electric vehicle is reportedly being developed.
The company is also looking to launch consumer scooters as well, starting from November 15.
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