The Indian billionaire Chairman of Mahindra Group, Anand Mahindra, is known for voicing his opinions on the popular social media platform X (formerly Twitter). Mr. Mahindra shares a ton of great posts on things he finds intriguing and shares his thoughts on a lot of important things on X. Recently, he shared a few pictures of a foldable diamond frame electric bike which was also featured on the popular Entrepreneurship reality show – Shark Tank India Season 2. In the pictures, Anand Mahindra was seen riding this new foldable EV bicycle.
A bunch of IIT Bombay guys have made us proud again. They’ve created the first foldable diamond frame e-bike with full-size wheels in the world. That makes the bike not only 35% more efficient than other foldable bikes but it makes the bike stable at higher than medium speed. And… pic.twitter.com/U1HHGD6rfL
— anand mahindra (@anandmahindra) October 21, 2023
The pictures of this innovative foldable EV bicycle have been shared on X by Anand Mahindra. In the pictures, Anand Mahindra can be seen taking his newly acquired foldable EV bicycle out of his red-colored Mahindra Scorpio-N SUV. He has also shared the picture of the bicycle in the folded state and then also assembling it to ride. In the next picture, he is also seen riding this innovative foldable bicycle around his office’s main compound.
Hornback X1 – World’s first foldable EV bicycle
The Mahindra Group head mentioned in his tweet that his foldable EV bicycle has been created by a company called Hornback. It has been founded by a bunch of IIT Bombay alumni, he added. In his tweet, Mr. Mahindra stated that Hornback has created the first foldable diamond frame e-bike with full-size wheels in the world. He also added that it makes this EV bicycle 35% more efficient than other foldable bikes, but it also makes the bike stable at higher than medium speed.
This foldable EV bicycle by Hornback comes equipped with a 250W, 36 Nm electric brushless D.C. motor which has been mounted on the rear wheel hub. This motor is water and dust resistant, which draws its power from a 36V, 7.65Ah battery. According to the company, this EV bicycle can provide a maximum range of 45 km on pedal assist & 35 km on throttle (with up to 70 kg rider weight). The bike also gets an LCD multi-information display with a speedometer.
Currently, the bike is on sale on Amazon India and the company’s official website. The model ridden by Anand Mahindra in his X post is the Hornback X1 model, and it is priced at Rs 44,999. Apart from this, the company also sells another more traditional foldable bicycle which does not come equipped with a motor and a battery pack. This bike’s model name is Hornback M1, and it has been priced at around Rs 22,999.
Investments in Hornback
In his X post, Anand Mahindra clarified that he himself has invested in this company. Now, at the moment, the exact amount invested and the terms of the deal have not been revealed by him. However, most likely, it is a very huge achievement for the brand. Apart from the investment from Mr. Mahindra, the company has managed to secure funding of Rs 50 lakh from Cardekho founder Amit Jain after appearing on the popular entrepreneurship reality show Shark Tank India’s season 2. The company founders gave 2.5 percent equity in their brand for the sum of Rs 50 lakh.