Gozero Mobility to invest £ 17M in India, Britain

gozero mobility

British performance electric bicycle and activewear maker, Gozero Mobility announced on Wednesday that it will be investing 17 million pounds (around Rs 175 crore) in India and Britain for increasing manufacturing operations and retail presence along with improving research and development.

The Birmingham-headquartered company is looking to sell about 2.3 lakh units of its electric bicycles in both countries in the next five years.

Speaking about the company’s plans, company Chief Executive Officer Ankit Kumar stated, ‘Gozero Mobility isis looking to invest GBP 7 million in the UK market to increase research and development activities, strengthen the retail footprint and establish local assembly units.’ Through this, the company strives to generate 100 unique jobs in the next five years in the UK market essentially in the new product development space, he added.

For sales, Kumar said GoZero is targeting to sell more than 80,000 units in the same period in the UK market.

For the Indian market, GoZero Mobility said it ‘intends to invest GBP 10 Million’ to grow manufacturing and retail presence. It will also increase exports to markets such as Bangladesh, Dubai, Sri Lanka, and Nepal.

In India, the company strives to generate 250 jobs in the next five years, it said adding it is targeting to sell more than 150,000 units during the period. 

The planned investment will help the company in strengthening its footprint in both countries and generate more jobs for jobseekers.

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