In India’s electric vehicle sector, there is a growing regiment of innovative, adventurous start-ups that are working to fight pollution caused by traditional vehicles, and therefore start- ups are coming up with futuristic, zero-emission mobility solutions.
Earlier this week, Nitin Gadkari, Union road transport & highways minister reaffirmed potential of India to become a major electric vehicles manufacturing hub in the next five years. He also added that the world is not interested in doing business with China anymore, which is a very good opportunity for the Indian industry to take up the chance.
As the interest in India’s EV market has increased and was also evident at the AutoShow 2020, where leading car manufacturers showcased their latest electric vehicles.
Here are some of the startups in Electric Vehicle Sector that are leading the way for the Indian EV startup ecosystem.
Ratan Tata-backed Tork Motors: In September 2016, Tork Motors founded by Kapil Shelke showcased its first product, which is claimed to be the first electric motorcycle in India. The company is raising funds from major players of Indian auto industry such as Bhavish Aggarwal of Ola, Ankit Bhati, Co-Founder Ola and recently from former Chairman of Tata Sons, Ratan Tata.
According to reports, the company’s first electric motorcycle TX6 is expected to hit markets by July this year. Although the company previously rolled out a Yamaha FZ prototype retrofitted with an electric motor, it failed to make a mark in the Indian market.
Indian electric two-wheeler company, Okinawa: The Gurugram-based Indian electric two-wheeler company Okinawa was founded in 2015 by Jeetender Sharma and Rupali Sharma. The company claims to be a 100% Indian electric two-wheeler company and has its manufacturing unit set up in Bhiwadi, Rajasthan.
The company also produces affordable lithium-ion powered scooters— which was also showcased at the Auto Expo, 2020. The company sold more than a 1,000 electric scooters after the lockdown was partially lifted.
Yahhvi Enterprises: Yahhvi, a start-up based on electric Vehicle sector and is the leading distribution network for electric vehicle charging systems started in 2019. Yahhvi was founded by Sandeep Yadav and is a start-up that deals in the charging station and charging points for electric vehicles. Yahhvi develops smart and user-friendly EV Charging Systems.
The company provides the smallest, smartest, and the fastest Electric Vehicle Charging solutions that can be operated right from your palm itself. The electric vehicle chargers can be operated through the phone application.
The company offers wide range of products which includes Cloud based electric vehicle charging facility that doesn’t need any manpower to operate or to charge an electric vehicle. Yahhvi makes it all possible with just one click.
It’s an initiative to achieve nation’s goal of clean and green mobility. Presently, Yahhvi providing its services to over 23 States through 50+ Dealers. Yahhvi has set up over 15 charging installations.
Yahhvi offers various Business Models such as — Charging point operator, Dealer, OEMs, Public Charging Stations, and many more.
Yahhvi has collaborated with a UK based company that provides the best and easy accessible AC and DC Electric Vehicle chargers at a reasonable price and all under one roof.
Revolt Intellicorp founded by Micromax’s co-founder Rahul Sharma: Revolt Intellicorp was founded by Micromax’s Co-founder Rahul Sharma. Revolt Intellicorp is an electric motorcycle manufacturing founded in April 2019. The company has a manufacturing unit in Manesar with an annual production capacity of 1.2 lakh units.
The electric bike produced by the company has unique features such as full LED lighting, Bluetooth connectivity, and digital display with real-time bike diagnosis. The company is also working on a motorcycle that is o a café-racer style — which is a lightweight yet powerful motorcycle.
BattRE electric mobility startup: The start-up BattRE Electric – the mobility has electric cycles as well as electric scooters such as Lo: EV and IOT in its line-up. In June, 2019 the company has set up its operations in Maharashtra, and Gujarat and presently has over 50 dealers in six states.
The start-up recently launched the BattRE GpSie electric scooter at ₹65,000 in India. The newly launched product BattRE-One has various premium features such as connected instrumentation, keyless ignition, anti-theft alarm, and a USB charger.
Sachin Bansal-backed Ather Energy: Ather Energy, a Bengaluru-based startup was founded by Tarun Mehta and Swapnil Jain in the year 2013. The IIT Madras graduates has launched two scooters in the electric vehicle sector – the 340 and 450 – along with the AtherGrid, an electric vehicle charging infrastructure.
The startup was successful in raising funds from various notable companies such as Hero MotoCorp, Flipkart Co-founder Sachin Bansal, two-wheeler manufacturer, InnoVen Capital Singapore based, and Tiger Global, an American hedge fund and venture capital investor.
Although bikes of Ather Energy’s are at a high price point, with a starting range of ₹1,13,000, and have managed to gain popularity in Bengaluru.
Yulu: Yulu, a Bangalore-based start-up that is an electric bike sharing platform, was started by Co-founder of InMobi, Amit Gupta in 2017. The start-up is set up to address the traffic problems using Internet of Things (IoT).
At present, it is operational in Bengaluru, Ahmedabad, Pune, Mumbai, and Bhubaneswar.
In November 2019, the start-up raised $8 million in its Series A round, which was led by Bajaj Auto Finance, a leading automobile manufacturer in India. Additional $2 million was invested in the start-up by the existing investors.
With the help of this funding, Yulu plans to build a strong electric vehicle (EV) infrastructure and also fast-track processing of its electric scooter, Yulu Miracle. The team is looking to support more than 100,000 Yulu Miracles by the end of 2020.
Ultraviolette: Ultraviolette, a Bengaluru based start-up was started by Niraj Rajmohan and Narayan Subramaniam in December 2015. In August 2018, 15% stake in the start-up was picked by TVS Motor.
F77, the company’s first product was unveiled in November 2019, which can accelerate the vehicle from standstill to 60 kmph in 2.9 seconds. The company claims that the motorcycle has a top speed of 140 kmph and has a range of 150 km.
The company aims to roll this out first in Bengaluru, followed by a national expansion next year.
Zypp: Zypp, earlier was named as Mobycy. It was founded in 2017 and headquartered in Gurugram. Zypp provides last-mile connectivity for daily commuters under the range of 5 kms from metro and bus stations, townships, tech parks. The company also caters to Business-to-business (B2B) players for last-mile mobility requirements in delivery and logistic services.
Zypp generates revenue by offering scooters on short and long-term rentals for Business-to-business deliveries and through the bookings of last-mile commute as well.
The company claims to have 300K users along with Business-to-business (B2B) clients like Swiggy, BigBasket, Dunzo, Ninjacart, Zomato, Amazon among others for last-mile deliveries. For 2020, Zypp plans to scale up to 25K electric vehicles.
“Zypp is working on setting up 1000+ battery swapping and charging stations to run the machinery across the major 5 cities,” the company said.
Indian electric two-wheeler company, Okinawa: Indian electric two-wheeler company Okinawa, a Gurugram-based electric vehicle company that was founded in 2015 by Jeetender Sharma and Rupali Sharma. Okinawa claims to be a 100% Indian electric two- wheeler company and also has its manufacturing unit set up in Bhiwadi, Rajasthan.
The startup also manufactures affordable lithium-ion powered scooters— which the company showcased at the Auto Expo 2020. The Company sold more than a 1,000 electric scooters after the lockdown was partially lifted.
Smart-E: SmartE is a Delhi NCR based start-up that provides three-wheeler electric mobility services with a focus on first and last-mile transportation. Smart-E was founded in 2014, the company claims to have served more than 50 Mn ‘zero-pollution’ rides in the last 4 years of its operations with a fleet of 1000+ electric vehicles.
Cofounder of Smart-E Palash Roy Chowdhury told that over 10K commuters daily across 20 metro stations access its services. “Very soon we are expanding our services to cover nearly 50 metro stations,” he added.
SmartE provides three-wheelers equipped with GPS and sensors which are monitored in Gurgaon in a control room. This helps them to keep a track of being taken off-route and from overloading the capacity.
India has started its drive towards a green and reliable future and is all set to become the leading market in Electric Vehicle Sector by 2040.