Oben Electric eyes international expansion in Middle East, Latin America, Africa
The electric motorcycle maker added that while the company was in the early stages of assessing these markets, it expects to deploy bikes to theses countries by early 2027.
Oben Electric is eyeing global markets and is currently evaluating Africa, Middle East, and Latin American markets as possible regions to deploy the company’s electric motorcycles.
According to the company’s CEO and founder Madhumita Agrawal, Oben expects to deploy its bikes to these regions by the beginning of 2027.
At a press meet to introduce Oben’s new motorcycle Rorr EZ Sigma, which will begin deliveries on August 15th, Agrawal said the company is on track to touch 100 retail stores by the end of this year. The company had raised Rs 100 crore in Series A funding in June to support its expansion plans.
Oben joins a growing list of electric two-wheeler companies eyeing international markets. Earlier this year, peer Ultraviolette began selling its motorcycles in Europe. Meanwhile, electric scooter maker Ather Energy has also made strides to enter Sri Lanka.
The Bengaluru-based company is also targeting to sell around 10,000 motorcycles by the end of this year. According to Vahan data, Oben has sold around 1,695 vehicles year-to-date.
Agrawal added that the company experienced a drop in its Vahan sales data due to the ongoing rare earth magnet supply bottleneck. However, since the firm does not use heavy rare earth magnets, the company was able to source these, albeit with a slight delay, to resume manufacturing capacity before the festive season kicks in.
Going forward, the EV maker will double down on three key themes to achieve its sales targets for the year: brand establishment, retail expansion, and bolstering its service network. “Your service network has to be robust. Because that's the first concern for consumers. Starting from the store, the consumer experience should be such that you are a serious brand,” Agrawal told YourStory on the sidelines of the press meet.
The company is also in the midst of raising around $30 million in a Series B round, which has seen interest from existing investors as well as new private equity funds, manufacturing conglomerates and large family offices.
Edited by Kanishk Singh