Franklin EV embarks on major expansion drive
Aims to have 200 showrooms, achieve sales of 3,000 units per month by 2023 end
(L-R) Franklin EV co-founders Naveen Kumar and Ranjith Kumar with Koro electric scooter
Hyderabad: Franklin EV, a Hyderabad-based electric scooter manufacturer, has geared up for mega expansion across the country with plans to open 200 showrooms by December 2023.
"Our target is to achieve sales of 3,000 units per month by the end of this year. To reach this target, we have taken up Rs 50-crore expansion drive. Many investors are keen to invest in our company," said Dr Shashidhar Kumar, Founder, Franklin EV.
He addressed the media conference along with co-founders Ranjith Kumar and Naveen Kumar.
"At present, we are exporting our models to Nepal, Bangladesh and also to Africa. We have plans to enter several other countries. Currently, the company has 54 dealerships in four southern States. We are already in active discussions with 30 people for new franchises," Shashidhar informed.
Franklin EV, which started its sales in 2021, has a widespread presence in Telangana, Andhra Pradesh, Karnataka and Tamil Nadu.
"At present, we have sales network across 30 cities like Hyderabad, Bengaluru, Chennai, Visakhapatnam, and Vijayawada. There are 14 showrooms in Hyderabad alone. We acquired more than 6,000 customers within two years of starting our sales," said Naveen Kumar, co-founder, Franklin EV.
The company is selling a revolutionary electric scooter, Koro, which comes equipped with dual batteries and has a range of 200 km on a single charge. While Koro with dual batteries is priced at Rs 1.14 lakh, its variant with single battery comes at Rs 81,450. Koro has evoked huge response from customers.
Franklin EV is the only company to manufacture duel battery model from South India. Customers can purchase Franklin EVs with loans from Kotak Mahindra, IDFC First Bank, Shriram Finance and Bajaj Finance. Zero down payment facility is also available, he explained.
"Apart from Koro, we have Power Plus and Nix Dlx in the market. By April this year, we will launch two more models which will come with a 100-kilometre range and will be priced between Rs 65,000 and Rs 75,000 after FAME-II subsidy. We are the only company in South India, which is making electric scooters under FAME-II subsidy," said Shashidhar.
The electric scooter maker offers service to customers at home and provides free spare parts service for 10 years. Depending on the model, Franklin EV uses 2.1-3 kilowatt lithium ion and lithium phosphate batteries. "We procure batteries from leading manufacturers such as New Energy Tech, EVE, and Molicell. The batteries come with certifications from ICAT-AIS 156, BIS, CE, ISO and ROHS. We are deploying removable batteries which can be separated from the vehicle for easy charging," he added.
