This Dubai-based EV startup aims to put 100,000 EVs on road by the end of 2023
OneMoto is an electric scooter brand that currently is present across the UAE, the UK, Kenya, and Saudi Arabia.
In 2016, Adam Ridgway wanted to convert his classic car to an electric vehicle. He went to three garages; all three agreed but not one could deliver. This made Adam realise there hardly was any know-how on building an EV.
“I was contemplating this when I saw a huge dump of beaten-up delivery bikes at a yard. It got me wondering if anyone had created an electric delivery bike. I started doing research, regionally and internationally to learn that nobody had done anything significant,” says Adam, in a conversation with YourStory Gulf Edition.
In Dubai for close to 15 years, Adam had already run successful media companies in the region. He found the idea of an electric brand intriguing and decided to connect with a few delivery companies to understand what they wanted.
The research and conversations led to the launch of Dubai-based EV company to design and build electric two-wheelers.
The early days
“It began like a side project for me to understand the market and the potential. The research turned into a white paper and in 2016 I realised the opportunities. Also, the UAE has a service that allows one to deliver petrol to their doorstep and I realised the market would only grow,” Adam says.
He continued researching and working on building a prototype.
In 2019, Adam’s personal life was going through a shift and he began thinking about what he was doing with his professional life. It was just the catalyst needed to focus full-time on OneMoto.
“We launched in December 2019, but soon ran into the pandemic. Everyone was getting everything delivered to their doorsteps, but supply chains were a problem. That year, we decided not to get into sales but gain an understanding of what was happening,” he says.
The team focused on knowledge transfer and market awareness.
Adam says it was an expensive bet as revenue wasn’t the focus at all. But, in retrospect, he says it was the best investment he ever made.
It was during the year, he also looked at the India and Sri Lanka markets, and parts of Asia and Africa. The team worked on building their distribution networks.
“In two years, we are in five continents. We are one of the few global automotive companies that impact 15 out of 17 sustainability goals. Our core is sustainability and we have a modular stealth team that operates globally.”
Adam Ridgeway, founder, OneMoto
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Building OneMoto
The design to testing of the two-wheelers went on for 18 months, with the team working closely with the road and transport ministry of the UAE and drawing on European standards.
“It is important to have these certifications in place as it means your vehicle will be safe on any road in the world,” Adam says.
Currently, OneMoto has three vehicles on the road. The company also has a range of e-bikes, but these aren’t that popular as the weather in the Gulf region doesn’t offer too many cycling opportunities.
“However, we have a fast-growing community around cycling,” Adam says. The bikes are designed for Europe, Australia, and the US.
Almost 90% of the business is focused on delivery and last mile. The team has gone to market with Biker, an electric scooter for deliveries. It is hot weather-tested, has swappable batteries, and a three-pin charging facility.
OneMoto Cycle
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Operating out of the UAE
Adam feels setting up a business in the UAE is easy.
“In terms of understanding operations, it’s easy. But setting up a bank account in the region is still difficult. It takes close to six to nine months; however, fintech offerings are making it easier. The ease of doing business is significantly high,” Adam says.
He adds the Dubai Chamber helps companies and businesses set up in the region with ease.
“Being the first ones in the market, we have set standards and global benchmarks with the government. Anyone competing with us must be able to build as per those standards,” Adam says.
As per McKinsey & Company the EV market will be worth between $300 and $500 billion within 10 years. Larger manufacturers like Nissan, Tesla, and others are in the space, but OneMoto operates purely in the EV market.
OneMoto is operational in the UAE, Saudi Arabia, Kenya, and the UK.
Speaking about the overall market, Darko Ajitas, who helped facilitate the overall asset financing for OneMoto, says, “The need for sustainability in every aspect of our lives is fast growing. When we look at asset financing we look at all aspects - certifications, safety, and standards, and the possibility of the product to grow further.”
He adds that OneMoto fits the bill. The delivery and commuter scooters are priced at AED 14,950; the Elector is priced at AED 16,450. These prices include the battery, the app that helps track the scooter, etc.
OneMoto Electric Scooter
The company, which has raised undisclosed investment, is looking at other models - battery as a service, leasing, fintech, localised assembly, and ongoing distribution.
“In six months, we will have an assembly plant in the UAE and Sri Lanka. We are now looking at a presence in 15 countries. The team is also looking at patents, three more vehicle models, and financing systems. We are aiming for 100,000 vehicles by the end of next year, and achieving all 17 SDG goals,” Adam says.
(This story has been updated with a correction in the name of the founder.)
Edited by Teja Lele