Zen Mobility expects over $10 million revenue in the next year

B2B Light Electric Vehicle (LEV) manufacturer, Zen Mobility, is expecting to achieve over $10 million in revenue for the year. Currently, the startup is producing 1,000 units per month of its LEV which it calls ‘micropods’ but aims to increase this to 2,000 to 3,000 units per month by the end of the year.

The Gurgaon-based startup has already received 10,000 pre-orders for the Micro Pod across 28 clients including those operating in e-commerce, food and grocery delivery sectors. The company has invested nearly $4 million in the last three years in research and development (R&D) and plans to invest about $10 to $15 million for further expansion. Zen is also looking to raise around $10 million in funding. 

Zen Mobility is an initiative of the NTF Group, a Tier 1 supplier and manufacturer of automotive components. The company’s product line consists of the Zen Micro Pod, a 3-wheeler ‘cargo bike’, and the Zen Maxi Pod, a multi-purpose modular EV platform built for cargo and passenger transport. 

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“We have deployed 1000 vehicles across all the major cities and have dealerships and after sales services, catering to ecommerce, FMCG, logistics pharma and other segments. This year, we have planned for over $10 million revenue and already have about 10,000 orders booked,” said Namit Jain, Founder and CEO, Zen Mobility. 

Production of the Zen Micro Pod commenced in February this year, featuring a customizable cargo box design suitable for hot/cold chains, a 150 kg payload, 120 km range, and a 3-year warranty. They can be leased out at an introductory price of  ₹8000 per month for three years. 

The startup has a 2.5 acre manufacturing unit in Gurgaon with an annual capacity of 50,000 units and plans to establish another plant in Gurgaon for the Maxi Pod. Zen plans to launch the B2B segment of the Maxi Pod next year, with intentions to enter the B2C or passenger vehicle market after two years. 

“The Maxi Pod is a compact vehicle with the same load capacity as a TATA Ace but slightly more sleek and easy to drive. Unlike larger commercial vehicles, it can navigate smaller lanes in cities like Delhi and Bangalore,” added Jain. 

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(Reported by bl intern Vidushi Nautiyal)