Etran Thailand, an electric bike developer, is still confident it can sell 200,000 motorcycles in the next decade as Thai motorists slowly adopt electrified vehicles.
Etran was established as a startup with registered capital of 5 million baht in October 2016. Digital Ventures, a fintech subsidiary of Siam Commercial Bank, was Etran's accelerator during its initial stage.
In February 2017, the first model dubbed Etran Prom was launched. The business model focused on fleet rental for moto-taxis and moto-messengers.
Chief executive and founder Soranun Choochut said the previous business plan did not comply with regulations of the Land Transport Department.
"Etran develops electric bikes for public use, but laws require motorcycle riders to have to own their bikes, unlike car taxis where the law allows drivers to rent them," he said.
"The key purpose of Etran is to reduce energy costs for motorcycle riders. When the regulations did not allow that business plan, Etran had to develop another electric bike and shift our target market."
Yesterday Etran launched the Kraf Limited Edition priced at 150,000 baht, aiming to sell only 300 electric bikes. It has a 7-kilowatt wheel motor and can reach a maximum speed of 130 kilometres per hour.
The Kraf uses a lithium manganese oxide battery with a maximum capacity of 2.88kW-hour, allowing a maximum riding distance of 180km.
Mr Soranun said Etran hired Sakun C Innovation Co, a Thai bus assembler, to produce Kraf, which is scheduled for delivery to buyers from the fourth quarter.
"Etran is focusing on selling to riders for personal use. Bookings are available through the website only, no showroom," he said.
"The Kraf is a premium motorcycle and is connected via a mobile app."
Mr Soranun said Etran is developing a home charger with 20 amps and a combined charging system for Type 2.
"Buyers can spend 50,000 baht to install the home charger for Etran's bikes," he said. "A one-time charge costs roughly 10 baht."
