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Yatri, Sipradi sign a partnership to promote electric bikes

Yatri Motorcycles and Sipradi Trading have struck up a partnership for a joint venture for the development and promotion of made-in-Nepal Yatri motorbikes in Nepal. The cooperation gives a significant boost to Nepal’s pioneering domestic EV maker as it seeks to stamp more authority in the auto market.

The two entities signed a JV contract on Sunday, June 30, 2024. Yatri says that the cooperation stresses “a shared vision of local innovation in automotive engineering,” and calls it “an important milestone as the partnership seeks to shake up the stagnant electric two-wheeler industry with affordable and exciting Yatri products.”

Yatri Sipradi partnership scooter bikes

“Forward thinking and Progressive design are the two key pillars of this collaboration. This partnership enables us to build affordable yet cutting-edge electric vehicles while allowing us to build an excellent network in the region”, says Ashim Pandey, Founder and CEO of Yatri Design Studio.

“The preparatory groundwork and the detailed study that has gone into this Joint Venture is a testament to our intent of a long-standing partnership with Yatri and tackle broader mobility challenges”, says Rajan Babu Shrestha, CEO of Sipradi Companies.

The two have formed a Cross Functional Team with members comprising both Yatri and Sipradi Trading to work on their plans and operations.

Also read: Best Electric Bikes Price in Nepal | Check Price and Specs

Morale booster for Yatri!

A JV with Sipradi Trading comes as a morale booster for the EV startup. The company had some rough phases last year but now, it is aiming at stronger market appeal than ever.

Till 2023, the company had several issues regarding registration of its bikes, denial of number plates for Yatri bikes, etc. There were even rumors of the team’s original founders leaving the business entirely and moving to China. The company denied it later though.

But in a commendable move by the government, a new provision was added to the Transport Management Working Procedure Guidelines 2060 thereby making registration easy for Made in Nepal vehicles.

Thankfully now, the Yatri P0 and P1 café racer motorbikes can get their registration and number plates. The company is now geared up to launch the Yatri P1 Gen2 electric motorbike in 2024.

Yatri P1 range upgrade
Credit: Yatri

Likewise, the new partnership with Sipradi Trading, a leading seller of popular auto brands in Nepal will give it a push in its drive to get bigger in the market. It will now have more resources at its disposal that could help it grow its relevance in the evolving EV market in Nepal.

Sipradi is the sole distributor of TATA vehicles and MAK Lubricants, Michelin tires, Exide Batteries, etc. in Nepal. Yatri is an ambitious electric motorbike maker with a growing brand presence in the country. The two’s JV shall benefit Nepal’s domestically made-in-Nepal products and empower the auto industry as well as entrepreneurship.

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