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Raising $1,000,000 For EzBike Ft. Mohammad Hadi

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Raising $1,000,000 For EzBike Ft. Mohammad Hadi




In conversation with tonight’s guest, Mohammad Hadi. What has his journey been like? How was education in Islamabad at the time? What was it like in Islamabad in the 1990s? Going away from home for college and growing up in two separate sets of cultures. What was his academic experience like in England? Why Business and Economics? Was he a good student? How were his 15 years in Credit Suisse? Is investment banking in America like in the movies? What is the work culture in America? The importance of being driven? Why did he choose to leave Credit Suisse? Has the family adapted to the culture? Investment banking Vs. Private banking. What really happens in Wall Street? Can a gold rush begin in Pakistan? What can help support that shift? Will change accelerate at a faster rate? Starting Roamer and was it profitable? How did covid impact them and what did they do? How did Covid lead to launching Ezbike? What are their present locations and plans for expansion? All you need to know about it? How are they starting their own assembly unit and consumer products? Why should a customer buy this? Is this a subscription model? How are they reducing air pollution through this? How will they deal with theft? Are all batteries imported? How far can the EzBike go? What did they raise and what’s their vision? Will they ever expand to four-wheelers? Custom duty? What are their plans for the future? At what point can lithium-ion be indigenized? What are their plans for the consumer? How does he envision the Pakistan of 2050? Catch this and much more in tonight’s episode.

00:00 Tonight’s guest: Mohammad Hadi
00:32 Hadi’s Journey!
01:14 How was education in Islamabad at the time?
02:07 What was it like in Islamabad in the 1990s?
04:15 Going away from home for college
05:50 Growing up in two separate sets of culture
09:07 Why Business and Economics?
09:57
Was he a good student?
10:31 What was his academic experience like in England?
11:48 Post-graduation
12:30 What was the first job he had?
14:25 Fifteen years in Credit Suisse
15:20 Is investment banking in America like in the movies?
15:47 The work culture in America
17:42 The importance of being driven?
18:19 Why did he choose to leave Credit Suisse?
20:17 Hadi’s family
20:48
Why did he move to Dubai?
21:06 How did it feel to be away from family for work?
21:53 Has the family adapted to the culture?
23:23 Investment banking Vs. Private banking
24:17 What really happens on Wall Street?
27:01 Can a gold rush begin in Pakistan?
29:20 What can help support that shift?
31:59 Will change accelerate at a faster rate?
33:23 Starting Roamer
36:51 Was it profitable?
37:27 How did Covid lead to launching Ezbike?
18:33 Capital Investment and cost
42:00 The idea behind EzBike?
42:27 What are their present locations and plans for expansion?
42:45 All you need to know about it
46:01 Starting own assembly unit and consumer products
47:07 Why should a customer buy this?
49:03 Is this a subscription model?
50:35 Will the new scooters be any different?
51:36 How are they reducing air pollution through this?
52:23 How will they deal with theft?
55:31 The bike's battery
56:50 How far can the EzBike go?
58:11 What did they raise?
59:07 What’s their vision?
1:01:48 Will they ever expand to four-wheelers?
1:04:30 Custom duty and what to expect?
1:07:45 What are their plans for the future?
1:08:19 At what point can lithium-ion be indigenized?
1:09:28 What are their plans for the consumer?

1:11:00 How does he envision the Pakistan of 2050?

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_NOBODY_

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All the educational stuff aside my man is literally a Pakistani gigachad.

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Pakistan’s ezBike raises $1 million in its first pre-seed round

13 May 2022

The e-bike initiative in Pakistan would yield lots of success as the country represents a $20 billion market opportunity for electric two-wheelers.

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EzBike, which is Pakistan’s first electric bike-sharing service, has generated around $1 million in its first-ever ground operation round through an electric mobility startup.

EzBike aspires to create electric vehicles (EVs) in Pakistan and the company has mentioned that the pre-seed capital would be used to accelerate the EVs transition in the country.

Moreover, the investors in the initiative include i2i Ventures, Walled City, Ground Up, and leading angels in the United States, as well as the major tech tycoons. Additionally, the company intends to use the funds to create a comprehensive environment for electric bikes and scooters. Likewise, the production of low-cost lithium-ion batteries and a network of battery swapping stations are also the future prospects for the company.

Furthermore, Mohammad Hadi, a former investment banker, and Ali Moeen, a software executive are the founders of ezBike company which has onboarded over 100,000 customers in its home city Islamabad. Likewise, with the success of the electric scooter in the capital the company found a greater need for affordable and green transportation across the country.

Therefore, the company will start the sales of its electric scooters in the summer of this year i.e. 2022, and also intends to pilot its solution with one of Pakistan’s leading delivery companies.


Advantages of EZ bike

This electric bike is efficient, convenient, and sustainable to move through the city. Similarly, in order to avoid traffic jams, the initiative can help the customers ride door-to-door and park their scooters without any parking fee. Moreover, the ezBike is more affordable than driving a car or taking a taxi as the e-bike does not require any parking or fuel costs. In addition to this these bikes contribute to a clean and green environment as they do not produce any sort of pollution in the atmosphere.

Furthermore, the easy and accessible use of the ezBike makes it more customer-friendly as one can start the ride by following only three simple steps. Likewise, a free 15 minutes reservation can be made, and through the scan of the QR code, the bike can be activated to start the ride. Moreover, the bike can easily be parked and locked once the destination arrives and the charges can be paid easily through the ezBike app.

Conclusively, the e-bike initiative in Pakistan would yield lots of success as the country represents a $20 billion market opportunity for electric two-wheelers. Moreover, the massive price hike of petrol and immensely high levels of air pollution brings a greater need for the EVs transition in the country.

 
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ezBike raises $1m in first pre-seed round by electric mobility startup

Press Release Updated 13 May, 2022

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ISLAMABAD: ezBike, an electric mobility startup, announced on Thursday that it has raised $1 million in pre-seed capital to help accelerate Pakistan’s transition to electric vehicles (EVs).

Investors in the round included i2i Ventures, Walled City, GroundUp, and leading angels in the US, including a prominent tech billionaire, according to a statement that did not name the individual.

“The funds will be used to build a comprehensive ecosystem for electric two-wheelers, including an electric scooter assembly facility, low-cost lithium-ion battery production, and a network of battery swapping stations,” it said.

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The company will begin offering electric scooters for sale this summer, and plans to initially pilot its solution with one of Pakistan’s leading delivery companies.

Founded as Pakistan’s first electric scooter sharing service by Mohammad Hadi, a former investment banker, and Ali Moeen, a software executive, ezBike has on boarded over 100,000 customers, the statement added.

“With 22 million legacy motorcycles, Pakistan represents a $20-billion market opportunity for two-wheel electric vehicles, and skyrocketing petrol prices and air pollution rates make the need to transition to EV’s urgent,” said ezBike’s co-founder and CEO Mohammad Hadi.

“Up till now that transition hasn’t been possible because EVs were too expensive, but our proprietary solution will allow consumers to purchase electric scooters for 80% the price of comparable petrol-run motorcycles and operate them for 50% the cost. This will revolutionise the market.”

Pakistan was recently ranked as having the 2nd worst air quality in the world, and has over time seen rapidly worsening smog and respiratory illnesses in major urban centers. The World Bank estimates annual economic losses to the Pakistani economy caused by ambient air pollution to exceed $1 billion.

The company’s announcement comes at a time when Pakistan is looking to increase the share of electric vehicles in the domestic market. However, experts believe there needs to be extensive infrastructure present for any player to be able to make inroads.

 
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_NOBODY_

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@waz @Goenitz @farok84 @Asimzranger ezBike is currently manufacturing its electric scooter itself and will soon launch it as a product. This is huge! If we can get enough battery swapping points in Lahore and Karachi they can completely annihilate Bykea and the bike services of Uber, Careem and InDriver. Battery swapping is so much faster than charging. Companies like foodpanda would love an electric scooter like this. Mohammed explained that ezBike could either sell the scooter to the biker who delivers food via foodpanda or to foodpanda itself. This podcast has been fantastic for me so far, I am currently at 01:19:26.
 

_NOBODY_

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According to Mohammed the cost of this electric scooter would be 70-80% of what the leading motorcycle brands are selling their motorcycles for and more importantly the operating cost would be around a whopping 50% of that of current best selling motorcycles in our country. If this is true then it's absolutely incredible, I pray that they become successful in achieving their goals. @baqai What do you think about this?
 

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@waz @Goenitz @farok84 @Asimzranger ezBike is currently manufacturing its electric scooter itself and will soon launch it as a product. This is huge! If we can get enough battery swapping points in Lahore and Karachi they can completely annihilate Bykea and the bike services of Uber, Careem and InDriver. Battery swapping is so much faster than charging. Companies like foodpanda would love an electric scooter like this. Mohammed explained that ezBike could either sell the scooter to the biker who delivers food via foodpanda or to foodpanda itself. This podcast has been fantastic for me so far, I am currently at 01:19:26.
it will be good as it will disrupt the monopoly from other companies like foodpanda and bykea
 

_NOBODY_

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it will be good as it will disrupt the monopoly from other companies like foodpanda and bykea
I don't they are competing with foodpanda in fact they want to sell their electric scooter to foodpanda or to the drivers delivering food using foodpanda but as far as Bykea is concerned this is probably making the directors of Bykea sweat buckets.
 

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I don't they are competing with foodpanda in fact they want to sell their electric scooter to foodpanda or to the drivers delivering food using foodpanda but as far as Bykea is concerned this is probably making the directors of Bykea sweat buckets.
if thats the case then its a good business model, pakistan need cheap electric scooter, electric small city cars to reduce emission CO2.
 

_NOBODY_

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if thats the case then its a good business model, pakistan need cheap electric scooter, electric small city cars to reduce emission CO2.
The best part is that charging stations will not be needed to make this successful as ezBike will rely on a wide network of points for battery swapping and battery swapping will take around 2 minutes.
 

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Great innovative, hopefully this expands nationwide, serving the common pakistani, I’ll 10000% rather have these than Those annoying bikes polluting the roads.
 

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Great innovative, hopefully this expands nationwide, serving the common pakistani, I’ll 10000% rather have these than Those annoying bikes polluting the roads.
Traditional motorbikes not only cause immense air pollution but also a lot of noise pollution, these electric scooters should make our cities less noisy.
 
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Pakistan’s mobility startup ezBike to commence sales of electric scooters after $1mn pre-seed raise
By Taimoor Hassan | May 14, 2022

ezBike plans to setup an assembly plant and battery production facility to create an EV ecosystem for a country under severe climate change threat

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Pakistan’s electric mobility startup ezBike plans to commence sales of electric scooters following a million dollar raise in a pre-seed round.

The pre-seed round was raised from Pakistan’s i2i Ventures, Walled City Co, GroundUp, and leading angels in the United States, including a tech billionaire whose name was was not disclosed. This is the first raise for an electric mobility startup in Pakistan.

Profit has seen internal documents shared by the startup that confirm the amount raised in the round was $1 million.

ezBike was launched in October 2020 as Pakistan’s first electric scooter sharing service by Mohammad Hadi, a former investment banker, and Ali Moeen, a software executive. Since its inception, the startup claims it has on boarded over 100,000 customers who can book an ezBike parked around the city of Islamabad.

The users locate the bikes through the ezBike app, reserve and operate the electric scooters all by themselves.

“We have been able to achieve this number of users without anything spent on marketing, which is a validation of our model,” says Muhammad Hadi, the CEO of the startup.

He further says that being electric, ezBike scooters cost 30% less than the average bike ride on non-electric services.

“Because of expertise in assembling, operating and maintaining electric scooters at scale, we feel we are very well positioned to address the broader market opportunity of transitioning Pakistan to electric vehicles within 2 wheelers,” says Hadi. “That does not necessarily have to happen only through a sharing service which is why the pre-seed we have raised and the uses of this capital are to launch our own brand of electric scooters which will be offered for sale starting this summer.”

“Pakistan has 22 million registered motorcycles and 2 million are sold each year. We estimate the electric vehicles market to be a $20 billion opportunity, however, despite very supportive regulatory and tax policies in Pakistan for electric vehicles, the electric vehicles in Pakistan have not been able to grow at a significant pace,” says Hadi.

He attributes the sluggish growth in electric scooters to the high price of these vehicles.

The funds will consequently be used to build a comprehensive ecosystem of its own for electric two-wheelers, including an electric scooter assembly facility, and low-cost lithium-ion battery production which will lower the cost of electric scooters for customers.

“What we are also doing is we are building a battery swapping network through which customers would be able to rent the batteries.”

“What that achieves is the customer would be able to purchase ezBike at 80% the cost of a comparable petrol motorcycle and then operate it for 50% the cost of a comparable motorcycle.”

The company will begin offering electric scooters for sale this summer and plans to initially pilot its solution with one of Pakistan’s leading delivery companies.

Misbah Naqvi co-founder and GP at i2i Ventures said, “We are proud to back the ezBike founders as they focus on addressing the urgent and significant issue of climate change and pollution in Pakistan, while providing consumers affordable options to purchase and operate electric scooters. Hadi and Ali have demonstrated a deep understanding of the EV opportunity and how to address the needs of the Pakistani consumer and we are excited about their future plans.”.

 

Wood

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According to Mohammed the cost of this electric scooter would be 70-80% of what the leading motorcycle brands are selling their motorcycles for and more importantly the operating cost would be around a whopping 50% of that of current best selling motorcycles in our country. If this is true then it's absolutely incredible, I pray that they become successful in achieving their goals. @baqai What do you think about this?
What is the mileage, top speed and battery chemistry? 🤔
 

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