Asian Energy Services invests in VAAN Electric Moto, Auto News, ET Auto

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“Asian Energy Services has been attracted to VAAN Electric Private Limited given the vast opportunities in the electric mobility sector. Asian Energy Services has also expressed interest in more investment in the business,” VAAN Electric said in a statement. communicated.

Indian e-mobility startup VAAN Electric Moto pvt Ltd has raised Rs 6million from Asian Energy Services Limited, an oil and gas services company. VAAN, which started operations in 2019, is recognized worldwide as an Indian electric lifestyle mobility startup that intends to bring products to market including electric bicycles, electric mopeds, electric mopeds, electric scooters and even electric boats.

The company was launched around the world at the famous EICMA Motorcycle Show in Italy which was held in November last year.

“Asian Energy Services has been attracted to VAAN Electric Private Limited given the vast opportunities in the electric mobility sector. Asian Energy Services has also expressed interest in more investment in the business,” VAAN Electric said in a statement. communicated.

Jithu Sukumaran Nair, who heads the startup, said there are plans to expand the electric charging facility, its services, e-waste maintenance and reproduction.

Asian Energy Services is a company listed on BSE, NSE and Oilmax is its main shareholder.

“The new investment will help the company grow as an international brand. This investment will be used to develop new products and expand the business into various industries,” noted Nair.

VAAN already has a technical collaboration with the world famous bicycle manufacturer Benelli. Besides the launch of the electric bike this month, electric bikes, super kids bikes and dresses will also be introduced.

The company focuses on the production of environmentally friendly products as well as the implementation of scientifically developed products. The company also ensures sustainable energy and product recycling.

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Led by high-speed scooters which have jumped more than 5 times, nearly 2.34 lakhs of electric two-wheelers were sold in the country in 2021. But this is only a precursor to 2022, when sales are expected to increase up to 6 times as a clutch of new entrants. like Ola Electric, Simple Energy, Bounce Infinity, Tork Motors and Ultraviolette are making their presence felt. All this while the traditional two-wheeler segment is struggling to grow like never before.

The electric bike with a 250 watt motor and a removable built-in lithium-ion battery that eliminates the need for charging stations offers a range of 60-80 km per charge and with a top speed of 25 km / h (km / h) ), the company said. in a report.

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