Toutche has announced that the company is expanding into new markets by setting its international headquarters in London and has expanded its operations in European regions. As per the company, Toutche’s entity in London will be strategic to its global plans, supply chain operations and build a new operating framework for international markets.
Speaking on the development, Raghu Kerakatty, CEO, Toutche said, “The demand for e-bikes has surged after COVID-19. The pandemic is accelerating the need for individual mobility solutions worldwide. Apart from the increasing consumer preference towards recreational and fitness activities, the adoption of e-bikes has become more mainstream. European regions are seeing unprecedented demand, and we see a wider market opening up for e-bikes globally."
“e-bike sales are expected to reach an estimated 30 million in Europe by 2030 growing at a CAGR of 26 per cent between 2024 and 2030. With Europe as our target market, Toutche will be the first to enter Europe with its own brand, and Made in India e-bikes. We have set our sight in capturing a greater pie of this fast-growing e-bike segment with a goal of being one of the Top 10 e-bike brands globally by 2026," he further adds.
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Toutche in India has launched its Heileo range of e-bikes and recently announced its plan to expand its Heileo stable in India. Toutche aims to sell over 75,000 e-bikes by 2024 in India with new launches and has more upcoming plans. Toutche has its manufacturing and R&D centre established in Mysore and currently is expanding its capacity to 100,000+ bikes a year.
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