An EV is an abbreviation for an electric vehicle. EVs are vehicles that are either partially or wholly fueled on electric power. Electric vehicles have low running expenses. They have less moving parts for maintenance and very environment-friendly as they need very little or almost no non-renewable energy sources (petroleum or diesel). We are noticing several EV startups thinking of doing some incredible innovation to create environment-friendly first and last-mile solutions, decreasing pollution levels.
Electric vehicles (EVs) are the next trend in the automobile sector. The Indian government has planned that only electric vehicles would be sold in the country by 2030, which can be a huge opportunity for EV startups. Research by NITI Aayog states that this could save 64% of India’s energy costs for road communication and cut down on 37% of carbon outflows. With some electric public transport options, the government aims for an electric transition for three-wheelers by 2023 and most bike by 2025.
List Of EV Startups In India
India is quickly moving in electrifying mobility to catalyze demand for electric vehicles (EVs). Additionally, the government’s support in easing regulations, reducing battery cost, and the availability of charging infrastructure are expected to be instrumental for the mass adoption of EVs. India’s booming EV startup sector preludes economic growth for the automotive industry and generates jobs in the process.
The Indian electric vehicles market has seen many startups coming into space. With the country forecasted to become the fourth-largest EV market over the next 20 years, startups are taking on the opportunity. Here are some of the EV startups that are leading the way for the Indian EV ecosystem.
ION Energy is an advanced battery management platform centered around building technologies that improve lithium-ion batteries’ life and performance that power electric vehicles and energy storage systems. While doing some analysis, ION energy founder Akhil understood that supplanting an internal combustion engine with an electric motor would cost the larger part of the car’s expense, motivating him to start an EV startup.
Given the threat of the high battery cost, Akhil perceived that there was a need to make the batteries affordable and accessible, so it has a long battery life, performs better, and in the end, significantly reduces the expense of the vehicle. Distinguishing the gap that no other organization in India was obliging this space, ION energy took birth as an EV startup in 2016 in Mumbai.
One of India’s leading EV startup, Ather Energy, is an electric vehicle company designing intelligent electric scooters. The company’s product offers superior performance intelligent electric vehicles alongside a comprehensive public charging network. Founded in 2013, the company has received a total funding of $102.2 Mn till now.
The EV startup has raised funds from prominent organizations like Hero MotoCorp, Flipkart Co-founder Sachin Bansal, Singapore-based InnoVen Capital, bike maker, and American mutual fund venture capital investor Tiger Global. Ather Energy is growing in Chennai and is setting up charging stations across the city. It aims to have up to 55 charging stations by the year-end, including 31 in Bengaluru.
Delhi-based EV startup SmartE was begun to satisfy the requirement for safe, reliable le, and last-mile availability to commuters. The recent five years have developed its fleet of vehicles from 30 three-wheeler EVs to 1,000 electric vehicles in Delhi NCR.
SmartE has developed a versatile model in specific areas of Delhi NCR, where it has collaborated with pioneer partners to build five large EV charging stops, which additionally work as parking garages for the e-rickshaws at night. These terminals, which have plug-in and battery swapping stations, are worked inside 2-3 km of select metro stations in Delhi, Gurgaon, and Faridabad. The EV startup has raised Series B funding of Rs 100 crore from Japanese aggregate Mitsui and Co.
Starting in 2015 by Jeetender Sharma, Okinawa Autotech makers deal with electric two-wheelers’ distribution and sales. The organization claims to be a 100% Indian electric bike organization and has its manufacturing unit set up in Bhiwadi, Rajasthan. This EV startup has also made affordable lithium-ion fueled scooters displayed at the Auto Expo 2020. The organization claims to have over 40K clients and will double that count in 2020.
Okinawa electric scooter in India is a new generation of eco-friendly and uniquely styled technology to give you a feeling of luxury and immense comfort. Okinawa Autotech set up to expand its dealership network from around 350 to more than 600 by 2021.
The change to electric vehicles won’t occur overnight and will be like how vehicles with motors supplanted horse-drawn carriages. With the push from the government’s side, advancement isn’t coming mainly from the traditional automobile giants; however, India’s EV startup environment.
The ecosystem comprises startups that manufacture bikes and startups working in battery tech, vehicle diagnostics, and analytics, charging and other such parts of electric vehicles. India’s supportability objectives are subject to electric mobility and EV startups, supporting this drive for a greener future.