GenZe Joins Mahindra Group & Expands Its Zero-Emissions Personal Transportation Solutions
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GenZe is realigning its strategy with the Mahindra Group in order to expand its electric bicycle (e-bike) and electric scooter (e-scooter) reach into the US market.
GenZe has joined the Mahindra Group and become a beneficiary of the Mahindra Partners venture capital (VC) group, tapping into the $1 billion incubator in order to access more funding.
GenZe has officially joined Mahindra Automotive North America (MANA) and is expanding its electric mobility lineup in North America. This will help GenZe leverage Mahindra Automotive’s design, engineering, and manufacturing resources.
“Led by CEO Vish Palekar, GenZe started as an incubator-funded business by Mahindra in 2012, developing IoT-connected electric scooters and bicycles in Fremont, California. The scooters and bicycles are engineered and manufactured in Ann Arbor, Michigan,” the press release notes. “This acquisition reflects the rapidly changing landscape of the personal transportation industry in 2019, which also saw high-profile bikeshare acquisitions by Uber, Lyft, and Ford Motor Company.”
To date, GenZe has provided fleet electric bikes and scooters to Ford GoBike, Scoobi, and Scoot. It also has fleets in the tourism, delivery, college, and corporate sectors. GenZe also partnered with Postmates for its network of local delivery couriers in NYC and San Francisco and Doorddash for its e-Bike delivery fleet.
According to Rick Haas, CEO of Mahindra Automotive North America:
“Mobility is rapidly evolving and we’re adapting to these changes to stay at the forefront of personal transportation. Ultimately, we are a mobility business and we see GenZe as a great addition to our growing portfolio of purpose-designed transportation solutions.”
Tom Valasek, GenZe Chief Commercial Officer, added:
“Micro-mobility – in the form of electric bikes and scooters – has become one of the fastest growing segments in transportation, as we work to provide ‘last-mile’ solutions within heavily congested cities. Joining Mahindra Automotive will give GenZe access to resources and scale. We can grow our platform of products faster and continue to build our connected digital offerings.”
I will speak soon with Mahindra N.A. to hear what else the company has to say about this venture and what it means for MANA.
MANA says it was the first automotive OEM to start manufacturing in Southeast Michigan in over a quarter century when it opened its operation in Auburn Hills, Michigan, in 2017.
https://youtu.be/7bD4EXEB8uI
GenZe Continues Its Zero-Emission Adventure
My experience with the GenZe 100 series, the startup’s first e-bike, has been a very positive one. Riding it for 5 years, the e-bike has needed no tuning to date and the only thing I’ve had to change was the tires.
I’ve also reviewed the 200 series, launched last year, and its connected e-scooter, the GenZe 2.0, a testament to the company’s engineering and IoT vision of transportation. The exoskeleton of the e-scooter makes it a safe one to ride almost anywhere.
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