Inderveer Singh attempted into the electric vehicle (EV) segment when it was still in its budding phase in India. Inderveer bootstrapped his investment on a shoestring budget and hunted for talent who speculated in his lofty ideals. He conceptualised EVage in 2014 and incorporated in 2019, an electric automobile startup, along with Pulkit Srivastava and Harnoor Kaur, with an emphasis on four-wheelers. It aims to lessen the suffering of manufacturing electric vehicles and giving rise to them within reach of the common man in India. It is classified as a Non-government company and is registered at Registrar of Companies, Chandigarh, and there were no players in the electric four-wheeler category then. After having assembled an electric four-wheeler from blotch, Inderveer determined to focus on creating endurable clean transportation.
Followed by 5 years of Research and Development (R&D) and Building over 20 patents.
Indeeveer Singh decided the four-wheeler would concentrate on the logistics portion and not so much on the passenger sector. According to data procured by the Society of Manufacturers of Electric Vehicles (SMEV), the Indian EV market is nowadays overlooked by the two-wheeler section with passenger car sales operating into a couple of thousands a year. For FY20, the number of passenger EVs sold in India was just 3,400. From a solely B2B perspective, where the provision of vehicles is mainly for goods carriers, there is no reasonable EV choice.
It is this expanse that EVage is looking to replenish. There are no sufficient testing tracks specific for four-wheelers where this startup could assess the accomplishment of its vehicle. Also, there were no conventional webs on whom they reach out to for any kind of suggestions or advice. It was almost a unique journey for EVage.
“We thought if there was a way of looking at it differently and decided that we need to benchmark ourselves with the aerospace industry,” says Inderveer.
The Idea of Having an Exoskeleton was to make the Whole Manufacturing Process Extremely Easy
EVage’s squadron of specialists from aerospace, automotive design and battery manufacturing industries are focused on addressing the mobility needs of India’s rapidly growing logistics, and e-commerce segments. The Chandigarh-headquartered company has developed its four-wheeler EV, which has already withstood more than lakh kilometres of testing and is waiting to hit the market based on the ‘Made in India’ pattern.
EVage formulated an exoskeleton for manufacturing its four-wheeler, to develop the entire manufacturing process incredibly simple where the vehicles would be portable, highly modular, and a scalable platform.
Fundings and Plans Ahead
EVage Ventures Pvt. Ltd, which operates an electric vehicle and mobility-technology startup, has lifted funding in a round led by Ola Electric Mobility Pvt. Ltd co-founder and senior adviser Anand Shah. Other participants in the funding round include ByAir director Varun Pahwa and DMI Group partner Anmol Nayyar, the Chandigarh-based startup said in a statement. It didn’t publicise the amount it raised. EVage plans to manufacture the vehicle on its own and believes it can do it at half the cost compared to other existing manufacturers.