EV Startup Toutche Expands Its Operations In UK & EU Regions

Highlights :

  • Toutche aims to reach 30 million units in Europe by 2030, with a CAGR of 26%.
  • It has also named its UK entity in London, as the international headquarters.

Indian electric bike (e-bike) start-up, Toutche Plans expansion into new markets and dynamic growth plans overseas.

Along with continuing to grow its presence in India, Toutche Electric today announced that it is working on expanding its geographic footprint worldwide, with growth expected in the UK & EU regions.

Further gaining its ground in the global micro-mobility market, Toutche has named its UK entity in London, as the international headquarters to expand its overseas business and global presence. Toutche’s entity in London will be strategic to its global plans, supply chain operations and build a new operating framework for international markets. The company aims to establish further its global foothold in the lucrative e-bike market, which it claims to be growing exponentially.

Speaking on the development, CEO of Toutche, Mr. Raghu Kerakattystated, “The demand for e-bikes has surged after COVID-19. The pandemic is accelerating the need for individual mobility solutions worldwide. The adoption of e-bikes has become more mainstream. European regions are seeing unprecedented demand, and we see a wider market opening up for e-bikes globally.”

“e-bike sales are expected to reach an estimated 30 million in Europe by 2030 growing at a CAGR of 26% between 2024 and 2030. With Europe as our target market, Toutche will be the first to enter Europe with its own brand, and Made in India e-bikes. We have set a goal of being one of the Top 10 e-bike brands globally by 2026,” he further adds.

Toutche in India has launched its Heileo range of e-bikes and recently announced its plan to expand its Heileo stable in India. In July 2021, Toutche launched its new e-bike (bicycle) Heileo ‘H100’. Heileo H100 is a hybrid-style electric bike, launched at a price starting from Rs. 48,900. Toutche has also opened bookings for the new bike from 5th July 2021 along with its earlier successful models – Heileo M100, M200, and H200, on the company website.

Toutche aims to sell over 75,000 e-bikes by 2024 in India with new launches and upcoming plans. It also claims to have a state-of-the-art manufacturing and R&D center established in Mysore and currently expanding its capacity to 100,000+ bikes a year.

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Bhoomika Singh

Bhoomika is a science graduate, with a strong interest in seeing how technology can impact the environment. She loves covering the intersection of technology, environment, and the positive impact it can have on the world accordingly.