- Scorpio Electric, a Singapore-based EV manufacturer, partners with distributors in Japan.
- The company prepares to launch its X1 maxi-scooter in late 2024.
- Scorpio Electric remains focused on global expansion.
Scorpio Electric, a Singapore-based electric vehicle (EV) manufacturer, has announced partnerships with distributors in Japan, Spain, Portugal, and the Philippines ahead of the launch of its first EV, the Scorpio Electric X1 maxi-scooter.
The company aims to capitalize on the growing demand for electric transport in these markets, which were selected based on their substantial two-wheeler customer base.
Gearing up the regulatory road
To ensure a smooth launch, Scorpio Electric has been working closely with local officials in each target market to obtain regulatory approval.
Production and delivery of the X1 bike are slated to commence in late 2024, and the company plans to strengthen existing partnerships and explore new growth opportunities in these countries.
Charging forward amidst challenges
In January 2023, Scorpio Electric raised US$6.5 million at a valuation of US$150 million. However, the startup’s losses increased by over 15% to S$3.3 million (US$2.4 million) in the financial year ended March 2023.
Despite this setback, the company remains focused on its global expansion plans, aiming to establish itself as a key player in the rapidly growing electric two-wheeler market.
To read the original article: https://www.techinasia.com/scorpio-electric-plans-x1-maxiscooter-sales-global-markets
