Most of the EV startups manufacture electric vehicles that depend on imported components from abroad to manufacture electric vehicles, and here DARWYN comes with a variation. Rahul Gonsalves has been in the electric vehicles industry for the last 6 years and yearned to make electric vehicles in India. However, factors necessary for manufacturing these electric vehicles were still imports based in the country. He speculated to endure this challenge, and along with Prem Bhojwani (Head of Engineering, DARWYN), Rahul generated the required 750-watt battery packs for the electric vehicles in 2016 and became the first startup to manufacture this battery in India. Ahmedabad based EV startup DARWYN develops not only progressive EVs indigenously but also their components here in India. The startup has the purpose of benefiting the transition from petrol/diesel based delivery services to EV services to curb air pollution levels. Founded in 2018, Darwyn Motors IP designs and develops electric vehicles.
“In 2015-16, we realised that the future for business logistics was going to be electric. Ola had just started the grand EV experiment in Nagpur and the market signals were clear that every business would want to deliver directly to the consumer. Last-mile logistics and vehicle-sharing companies would never turn a profit if they kept scaling based on existing technology (ICE). Thus, we embarked on the journey to build a B2B-focused electric vehicle company, ” says Rahul Gonsalves.
Manufactures EVs for the Industry
The startup enables large and small businesses by giving them a cavalcade of electric vehicles to move their products and services. Through its low CAPEX model, the companies don’t disburse the full price of the vehicle and can borrow it from the startup. This advantages them as they can shift their product fast, perform on-time deliveries with comfort, amenity, and cost-effectiveness, and come to be environmentally tolerable.
Pursues a Unique Business model
DARWYN seeks an extraordinary business model of EVs on lease with crediting infrastructure to E-commerce delivery services. The company is proposing its electric scooters and electric motorbikes on lease to many E-commerce and food delivery companies like Amazon and Zomato. The company furnishes its charging stations to them where these scooters and motorbikes are recharged for free of cost as a part of the contract. The main reason DARWYN is giving its vehicles to the e-commerce and food delivery companies is that they want to enable the shift from the petrol based delivery model to the electric-based delivery model. It will help in decreasing the deterioration levels. Darwin is making revenues through subscriptions for the data, analytics, and administration panel to businesses.
Growth Prospects of DARWYN
Within two years, Darwyn has attained 93 percent localisation of the product. DARWYN intends to sell vehicles in the market in the coming years. Recently, the company has auctioned about 230 vehicles which are mostly purchased by college students. These electric vehicles are given at a reasonable starting price of 43000 rupees. Due to DARWYN’s made in India components, they are supporting the country to redeem on importing parts of the e-vehicles in India.
Startups like DARWYN are prepping an example for other startups to make eco-friendly inventions and also help the community during a crisis because humanity matters the most.
They earned investments worth Rs 35 lakh from angel investors, mainly because they were bringing about a battery pack with indigenous hardware and software. The current revenues are Rs 3 crore ARR.