Warivo Enters High-Speed E-Scooter Market, Targets Rs 120 Crore Revenue in FY25

Electric two-wheeler startup Warivo Motor India is set to nearly double its revenue to Rs 120 crore in FY25, driven by its entry into the high-speed electric scooter market. Previously focused on low-speed scooters with a top speed of 25 kmph, Warivo has launched its first high-speed scooter, the CRX, priced from Rs 79,999 (ex-showroom).

"With the CRX, we are expanding into the high-speed segment, which will help us increase our volumes," Warivo Motor India CEO Shammi Sharma said. While the CRX falls in the mid-range category of high-speed scooters, the company plans to introduce a bridge product between low-speed and high-speed scooters, along with a premium high-speed option.

Although Warivo currently offers four low-speed models, the company's focus is shifting towards high-speed scooters to meet market demand. Sharma noted, however, that low-speed models will remain in production for some time as they still cater to the lower-end segment.

Looking ahead, Warivo Motor India Director Rajeev Goel shared the company’s ambitious growth plans, aiming for a 90-100% topline growth over the next three years. For FY25, the company is targeting a revenue of Rs 120 crore, up from Rs 62 crore in FY24.

Warivo’s manufacturing facility in Ellenabad, Haryana, has a production capacity of 600 units per day. The company currently sells around 2,000 low-speed scooters per month. For the CRX, which boasts a top speed of 50 kmph, Warivo is targeting total sales of 8,000 units in FY25.

"We will expand into untapped markets, with a focus on South India, which is a mature market and expected to embrace the CRX. From next month through March, we are confident in reaching 8,000 unit sales for the CRX," Sharma added.