Mumbai, June 26 -- Bollywood actor Suniel Shetty, cricketer KL Rahul, and actor Ahan Shetty have come together to back a new electric mobility startup, Exelmoto, founded by automotive designer and entrepreneur Akshai Varde. The company is positioning itself as a category-creator in India's two-wheeler EV market, with a focus on pedal-assist electric bikes-styled like motorcycles but priced like premium bicycles.

Pre-orders for Exelmoto's first two models-E1X Sky and E2R Rosso-will begin on 28 June, with a limited drop of 999 units available for a token booking fee of Rs.499. The unisex bikes are priced under Rs.42,000 and come with a removable lithium battery, 40-60 km range per charge, fat tyres, and no need for registration or a licenc...