Etran (Thailand) Co, a Bangkok-based electric motorcycle developer, expects to see its sales reach 2,000 units this year, up from 1,000, due to growing food delivery business during the ongoing Covid-19 outbreak.
The startup plans to sell motorcycles through hire-purchase contracts with a daily rent of 120-150 baht in order to test the market.
The company has teamed up with Siam Commercial Bank (SCB) to offer motorcycles to riders working for SCB's Robinhood, an online food delivery platform, in addition to selling motorcycles through its own channel.
"Up to 70% of motorcycle bookings came from our collaboration with SCB while the remaining 30% of bookings were made through our own channel," said Soranun Choochut, chief executive of Etran.
The company expects to deliver the motorcycles named Etran Myra to customers this month.
Etran believes the cooperation with SCB will enable it to expand business.
"We see an opportunity brought by the pandemic as it has lead to rapid growth of food deliveries while the government has also launched a policy to promote electric vehicles [EVs] in Thailand," said Mr Soranun.
The National EV Policy Committee announced in March a goal to have 50% of vehicles made locally be EVs by 2030, part of an ambitious government plan to make Thailand a regional EV production hub.
Archawat Charoensilp, executive chairman of Etran, said the company will continue to expand its market in the logistics and transport sectors because of their potential to grow during the boom of e-commerce.
"The company will focus on business to business trade by looking for businesses which want to promote clean energy and look for ways to reduce transportation costs," said Mr Archawat.