1) Tell us about the brand Go Zero and its offerings
– GoZero is a British maker of performance e-bikes and signature lifestyle products. The sole vision at GoZero Mobility is to help millions of people to transform their lifestyle towards active mobility. GoZero offers a range of e-bikes and performance wear which includes tees, jackets, joggers etc.
2) What are the future products Go Zero planning for India
– At GoZero, our aim is to continuously develop products keeping customers in the centre of it. This year our plan is to bring the e-biking experience to a large number of consumers. This year’s GoZero Delta 2020 event will happen in two parts, the first part of the event will happen on 7/11 and the second part towards the mid of December 2020. Our products would include commuter e-bikes and performance wears followed by the Flagship 2 in December 2020.
3) How do you see the Indian EV market?
– The Indian EV market has high growth prospects and is growing rapidly. The e-bike category has seen a huge surge since we reopened in June. The market is opening up a need for more premium and technology oriented products allowing opportunities for numerous players. The need for personal mobility has risen as a result of the pandemic and lockdowns. This is giving people the opportunity to adapt electric mobility and a big shift is happening towards active mobility. We see that in the next 12-18 months, a lot of foreign electric vehicle players will enter the Indian EV Market as its getting more attractive from a demand and investment perspective.
4) Has the Covid-19 affected business and how are you planning to bounce back?
– The pandemic has impacted everyone globally. During the lockdown period, our sales were down by 80% however as soon as we reopened in June, we saw a high demand surge. Our sales grew 300% month-on-month and the challenge was then to meet the demand-supply curve. Those were very challenging days, we worked fortnight to streamline inventory, renegotiated with vendors, kept a clear line of communication with the consumers on the delays. Thankfully, within 40 days we were able to recover from the losses incurred however we are still facing the challenge with delayed logistics. The delay in deliveries is still bad which we are trying to resolve. We anticipate to bring faster deliveries from December. Our business is back in place and the demand for e-bikes is high.
5) Tell us about Aatmanirbhar Bharat and its impact on EV market
– Aatmanirbhar Bharat is indeed the need of the hour, the only way we can cut down the lead time is to localise more components in India and work on just in time inventory systems. The EV component industry has not grown in India as compared to ICE component industry, as a result most of the EV makers are dependent on imports from China/other countries. If we have to achieve a higher efficiency level on production and meet market demands, the only option is Aatmanirbhar Bharat. It is not an option but a necessity in order to establish the process and mechanism to accelerate growth.
6) How do you see the future of two wheeler EVs in India?
– The future of two wheeler EVs in India is bright, shiny and full of opportunities. Not just as an OEM but also as a component manufacturer. The industry will grow at a CAGR of 90% in the next 5 years bringing immense opportunity for businesses. The consumers will see a lot of technology oriented products coming in the market. The adoption of e-bikes will be must faster than e-scooters & e-motorcycles owing to the fact that the pandemic has created the need of being healthy and fit in consumers. The consumers are opting for a change in the way they commute today.