EMotorad Extends 6% ESOP Plan For All Employees
EMotorad, India’s fastest-growing e-bike startup is allocating 6% of its shares as ESOPs with a vision to build an ownership culture that makes its employees stand out from the rest. The stock option benefits are available to each of its 80 plus employees across the board, right from an office assistant to the CEO of the company.
The ESOPs program comes with a 3-year vesting period offering long-term value to employees. This will ensure that as its business grows, every single employee also stands to gain. EMotorad expects the ESOPs to benefit every employee in the shortest possible time, besides inducing passion and developing a sense of belonging among them.
Looking to continue disrupting the EV OEM space over the next 5 years, EMotorad believes in doing things differently including the creation of an employee ownership culture. The allocation of the value of ESOPs has been done keeping the long-term goals of the employees in mind. EMotorad has with its range of e-bikes including the EMX, T-Rex Glyder, Xplorer, Dolphin, Doodle, Trible, and Ener-G successfully established itself in the global market. Having forayed into the UAE, Nepal, and Japan markets, the company is set to enter the US market soon. EMotorad has also expanded its footprint in the electric mobility ecosystem with the recent acquisition of Panine, India’s first EV fast-charging network.
“Our tremendous growth in the last 18 months is down to an amazing team, their belief and motivation. The value growth is something they deserve and we consider it an absolute obligation to make value for everyone who stayed with us and believed in the common vision and worked day and night, hand in hand to achieve what we did. They deserve it more than anything,” said Mr. Rajib Gangopadhyay, Founder and Managing Director, EMotorad.
“EMotorad is following a vision to build a culture that values our employees and will make us stand out from the rest. Our ESOPs program is a first for OEMs and something that others can emulate. We have designed this keeping in mind the objectives of early-value creation and more-value creation for our people. With every growth phase, EMotorad intends to focus on building wealth for its family of employees. The ESOPs have been created in a way to benefit everyone in the least possible time,” added Mr. Kunal Gupta, Co-founder and CEO, EMotorad.
