Hyd EV Firm Gravton Set For Major Expansion

Hyderabad: City-based Gravton Motors Pvt Ltd, an EV full-stack company, after a snag of two years, is back in the electric vehicle market. Post overcoming the hurdle posed by the new battery regulation with its homegrown (LMFP) batteries, the company is now accelerating its growth plan, for which Gravton has laid down a roadmap of introducing two new electric bikes, opening new manufacturing facilities, company owned- company operated (Co-Co) showrooms and further strengthen its team -- all to be achieved by raising Rs 110 crore.

“After officially introducing our first electric motorcycle in 2022, the plan was to invest Rs 150 crore for ramping up production and going strong into the market. As the launch got delayed due to the new battery regulation we had to put our expansion plan on hold. Till now, the Rs 40 crore raised from angel investors, family offices, and investors from the US, has gone into developing, manufacturing and entering the market with our flagship Quanta,” Parshuram Paka, Founder and CEO of Gravton Motors told media here.

Currently, Gravton has one Co-Co showroom near ECIL, Hyderabad, and a manufacturing facility spread across 50,000 sft at Cherlapally, with a capacity to manufacture 30,000 units per year. In the next 12 months, the company plans to open about 14 Co-Co showrooms across South India. “Initially we will start-off with Co-Co showrooms and later we will consider franchise model. In Telangana, right away, we will be opening one each Co-Co showroom in Hyderabad, Warangal, Karimnagar and other major hubs,” the CEO added.

Besides Telangana, Andhra Pradesh, Tamil Nadu and Karnataka, Gravton will be entering Maharashtra and Northern part of India with its Co-Co showrooms. From the 10,000 pre-orders received for its flagship Quanta, Paka said that high number of orders have poured in from Pune, followed by Telangana and the other Southern States.

“As we have witnessed more than 3,000 orders registered from Maharashtra, it sounds practical to have a manufacturing unit there.

Depending on the demand we will take a call on that after 18 months. Meanwhile, we have plans to open new facility in Telangana after achieving 50 per cent of the total capacity from the current unit at Cherlapally,” he pointed out.

In 2023, Gravton had introduced Arq, an all-terrain electric sports bike version. To take up its manufacturing the Founder mentioned investing on a new facility.