1 min read.Updated: 21 Nov 2021, 05:19 PM ISTLivemint
Bounce had acquired a 100% stake in 22Motors in a deal valued at about $7 million in 2021
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Bengaluru-based smart mobility solutions startup Bounce is all set to launch its first consumer electric scooter, Bounce Infinity, on 2 December. Bookings for purchase begins the same day and deliveries are slated for early next year. This scooter, made in India, can be booked for a nominal amount of ₹499.
Bounce said it will offer customers a ‘battery-as-a-service’ option, where they will also have an option to purchase Bounce Infinity at an affordable price without the battery and use Bounce’s extensive battery swapping network to be on the move.
“Customers will only have to pay for the battery swaps, whenever they exchange an empty battery with a fully-charged one from Bounce’s swapping network," Bounce said in a statement. “Customers will also have the option to purchase this smart electric scooter along with the battery pack."
Bounce Infinity boasts of a smart, removable Li-ion battery, which customers will be able to remove and charge as per their convenience and requirement.
Bounce had acquired a 100% stake in 22Motors in a deal valued at about $7 million in 2021. As part of the deal with 22Motors, Bounce acquired its intellectual property and manufacturing plant at Bhiwadi, Rajasthan that has a capacity to manufacture 180,000 scooters per year. Given the potential of the Indian market, the company said it is planning to set up another plant in southern India. Bounce said it has set aside $100 million to be invested in the electric vehicle (EV) business over the next one year.