On Thursday, the Chinese EV manufacturer, which was founded by a group of investors from China, India, and the United States, began accepting reservations for its electric scooters in India.
The first deliveries are expected in mid-January. The scooter will cost INR 86,000 after incentives. The company intends to make India an export hub, and it expects to release at least two new models every year, according to the company.
Dao EV Techis poised to become India’s next electric vehicle (EV) manufacturer. It will make its debut in mid-January 2022 with the Dao 703, a ‘high-speed’ electric scooter. Bookings for the scooter began on Thursday, and delivery are expected to begin soon after. Dao 703 will cost INR 86,000 after relevant subsidies, according to the business, with the sticker price of INR 1.20 lakh. The Dao EV line is priced from INR 60,000 upwards.
Dao EV Tech plans to use its India base to sell to the US and Europe after joining the domestic EV market. “After we start manufacturing at a planned production site in Chittoor, Andhra Pradesh, we’ll be transferring our exports away from China”- Maneesh Singh, VP — strategic development, Dao EV Tech
The opportunity might be enormous depending on the numbers that relocate to India. According to him, the company exported 4 million units from China to the United States and Europe in the pre-Covid year of 2019.
The new player’s journey in the domestic market would begin with a batch of 20 dealers in South India, with hopes to have a statewide presence with 300 dealers in around a year and a half. Dao EV Tech hopes to reach the one lakh milestone in yearly sales by then, with a “modest” sales target of 30 for each dealer. “The goal is to make sure that the entire supply chain – distribution, technology, consumer, after-sales, and operations – is healthy and profitable.” “The idea is to ensure that the entire supply chain – distribution, technology, consumer, after-sales and operations – grows well, and makes a viable and profitable business for dealers,” Singh said.
In the first phase, Dao EV Tech intends to provide three more models. Two of them will be ‘low speed’ models, designed primarily for commercial use. Swappable batteries will be included with all Dao versions. According to Singh, his company intends to take a different approach than Ather Energy and Ola Electric, which each debuted a single model with a variant. Dao EV Tech intends to quickly expand its product portfolio in order to compete with them and the rest. “Every year, we’ve pledged and committed to doing at least two models,” he stated. Dao EV Tech would provide free lifetime service to establish client confidence in its goods. Dao EV Tech would provide free lifetime service to establish client confidence in its goods. The vehicle’s battery pack will have a three-year warranty, which may be extended to six years for a fee.