Within 5 years, Enigma, a Madhya Pradesh startup eyeing to become a Rs 15-crore EV brand

Founded by brothers Anmol and Alancrit Bohre, the firm is set to expand its offerings to six by launching three more electric scooters till Diwali.

Bhopal (Madhya Pradesh) [India], July 20: Bhopal-based Enigma Automobiles, a leading manufacturer of electric scooters, is poised for its next phase of growth as it launches new models to capitalize on the growing awareness and adoption of electric vehicles in the country.

Enigma Automobiles, which accounts for 30% of the electric vehicle market in its home base of Bhopal, ended the financial year 2020-21 with a turnover of Rs. 5 crores and is eyeing to triple it to Rs. 15 crores this year.

“We are seeing a growing acceptance of electric scooters across sections of users as an environment-friendly and cost-effective means of travel within cities. We are on track to close this financial year with revenue of Rs. 15 crores,” said Anmol Bohre, founder, Enigma Automobiles.

The firm is planning to expand beyond Bhopal to other cities in Madhya Pradesh in the coming months. It presently offers three models of electric scooters – Crink, GT-450, and Ambier – and has plans to launch three high-speed scooters before Diwali. While the immediate focus continues to be on Madhya Pradesh, Enigma also has plans to expand to other states in the near future.

Anmol, a computer engineer by profession, founded Enigma Automobiles along with his brother Alancrit in 2015. The spirit to do something about India’s dependence on oil imports, as well as fatally high pollution levels across several Indian cities, is what led the two brothers to foray into the business of electric scooters.

“The initial days were tough. Two youngsters talking about setting up an electric vehicle company, and that too in an agrarian state like Madhya Pradesh wasn’t the most convincing proposition for investors or customers. It was a daunting task to educate people about electric vehicles in those days,” recalled Anmol.

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Meet Vishal Kashyap, the Founder of Coral100, a One Stop Solution For All Kinds of Digital and Branding Services

January 20: Vishal Kashyap is the founder of Coral100, which is one of the best organisations to provide branding and digital media services. Vishal started his journey at a very young age and started dealing with the media industry. Now with his 08 years of experience, he is running his company successfully. He was fascinated […]

Read More
Business

Gujarat based co-working player The Address eyeing giant expansion in 2022, all set to triple the existing capacity this year

With the current expansion and growth plans, the company will sit on a total of 6,00,000 sq. ft. co-working space with more than 8,000 seats across India by 2022  ‘The Address’ is Gujarat’s largest tier-1 & 2 focused, tech-enabled co-working and managed office spaces player who has added centers in Ahmedabad, Surat and Baroda Ahmedabad-based […]

Read More
Business

Winners of the Nationwide Awards for Under 50 Business and Corporate Leaders – 2022 have been announced by Business Mint

A celebration of a company’s hard work and accomplishments. The Nationwide Business & Corporate Leaders Awards honour the doers – individuals or corporations – who are the finest performers and innovators New Delhi (India), January 20: The Nationwide Awards honour outstanding Indian business executives and organizations for their dedication to excellence, best practices, and creative […]

Read More