Within 5 years, Enigma, a Madhya Pradesh startup eyeing to become a Rs 15-crore EV brandJuly 21, 2021
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.