Quantum Energy, an EV maker from Telangana, aims to boost its production to 50,000 units per year by the end of FY25, up from 6,000 units last year. The company is benefiting from the Rs 500 crore Electric Mobility Promotion Scheme (EMPS), which offers subsidies for electric two-wheelers and e-rickshaws.
Quantum Energy has already sold 10,000 units in the first four months of this fiscal year, seeing growth in both B2B and B2C segments. The company plans to expand its product range, adding new models to its B2C Plasma electric two-wheelers and Bziness electric scooters, aimed at e-commerce deliveries.
With increased demand from fleet operators, Quantum has partnered with companies like ScooEV, Bijliride, BluWheelz, Bike Bazaar, Hala Mobility, Zevo, Green Drive Mobility, and Ratnadeep Group. The company is also working on electric three-wheelers, with a new model in the advanced prototyping stage.
Fresh Capex Investments
Quantum Energy plans to expand its manufacturing capacity at its current facility in Pashamylaram, Telangana, and is investing over Rs 100 crore in a new facility near Hyderabad Airport Electronic City. This will increase its capacity from 50,000 to 120,000 units.
The company is also entering the battery-swapping market, partnering with Sun Mobility to launch a battery-swapping electric two-wheeler based on the Quantum Bziness platform. Collaborations with Log9 and Battery Smart support its battery technology efforts.
Network Expansion
Quantum Energy has a strong presence in South India and plans to expand across India, opening dealerships in Rajasthan, Delhi NCR, Bihar, Maharashtra, Odisha, and Jharkhand. The company aims to grow steadily, focusing on one market at a time. Quantum Energy is also planning a $10 million Series A funding round to expand its two-wheeler business in the passenger and cargo e-auto markets over the next 36 to 48 months.
