The company, which has a manufacturing unit in Neemrana (Rajasthan), will launch Wolfury, Finesse and Elite models, priced between Rs 90,000 and Rs 1.3 lakh.
Prevail Electric is working to set up a second manufacturing factory in Bairampore, Haryana, officials said.
It plans to leverage India as a manufacturing base and export products to neighbouring markets like Nepal and Sri Lanka. Plans are on cards to eventually tap other markets in Bangladesh, Vietnam and in Southeast Asia.
The company is also working on an electric four-wheeler and is in talks with the Haryana government to invest Rs 300 crore to set up a production facility for the same by the middle of next year.
“We are in talks with the Haryana government,” said Hemant Bhatt, chief executive officer of Prevail Electric Mobility. “We are planning to launch our demo model in 2023. We expect to finalise the agreement (for setting up the four-wheeler manufacturing unit) by June/July 2022.”
Prevail Electric will launch its first flagship store in Delhi by the middle of this month. The company plans to have in place at least 30 such stores across the country by the end of the ongoing financial year.
To address customer concerns about availability of adequate charging infrastructure, Prevail will set up 100-200 charging stations around its flagship stores within 30-60 days of launch of the outlet, officials said.
“With the central and state governments announcing incentives, electric vehicles will now become accessible to a wider set of customers,” Bhatt said. “Fuel prices are on the rise…the shift (to electric vehicles) is imminent.”
Running cost of a petrol-powered scooter currently is four times that of an electric version, he said. This is expected to trigger a shift towards EVs if the product quality and features are good.
The government had in June increased subsidy available on electric two-wheelers by 50% to Rs 15,000 per kilowatt hour (kWh) to encourage widespread adoption.
Prevail Electric’s existing facility in Neemrana has a capacity to manufacture 20,000 two-wheelers a year. The company can roll out a maximum of 40,000 units per annum from the facility, if required. The Bairampore unit will have a similar capacity, officials said.
The company’s three e-scooters, with top speed ranging from 50 kilometres per hour to 80 kmph, have a localisation content of around 90%, officials said.
About 143,800 electric two-wheelers were sold in India in the last financial year, which is less than 1% of the 15.1 million petrol-powered two-wheelers sold in the country in the same period.
France’s FRVelion, which manufactures automotive and industrial lubricants and electronic batteries, has been present in India since 2019.