10 INDIAN ELECTIC VEHICLE STARTUPS OF INDIA
⚡“Driving India Towards a Greener Future”
India has a lot to gain from the widespread adoption of e-mobility. Under the Make In India programme, the manufacturing of e-vehicles and their associated components is expected to increase the share of manufacturing in India’s GDP to 25% by 2022. On the economic front, large-scale adoption of electric vehicles is projected to help save $60 billion on oil imports by 2030 — currently 82% of India’s oil demand is fulfilled by imports. Price of electricity as fuel could fall as low as ₹1.1/km, helping an electric vehicle owner save up to ₹ 20,000 for every 5,000km traversed. Finally, electrification will help reduce vehicular emissions, a key contributor to air pollution which causes an average 3% GDP loss every year.
10. Strom Motors
Founded by Pratik Gupta, Jean-Luc Abaziou, and Dr. Gilmer Blankenship in 2016, Strom Motors have built a made-in-India electric three-wheeler which isn’t an electric autorickshaw. It is a trike, and they’re calling it the R3.
9. Euler Motors
Founded by Saurav Kumar in 2018, Euler Motors is working on a Tesla-inspired electric auto-rickshaw for India’s cargo segment. Along with this auto, Euler Motors is also creating a full-stack ecosystem which includes charging and service station networks, and they’ve already partnered with leading e-commerce companies like BigBasket, Ecom Express, BlueDart, Udaan, and MilkBasket, to provide this electric mobility stack as a service using more than 200 prototype vehicles.
8. Emflux Motors
Founded by Ankit Khatry, Varun Mittal, and Vinay Raj in 2016, Emflux Motors is an electric superbike startup which will be launching its first ebike called Emflux One at some point in 2021.
7. Okinawa
Founded by Rupali Sharma and Jeetender Sharma in 2015, Okinawa is a two-wheeler EV startup that is creating a line of super affordable and tech-enabled electric scooters called I-Praise + which comes with swappable batteries and a smartphone app and is priced at Rs 1 lakh ($1,300).
6. Revolt Motors
Founded by one of the co-founders of Indian smartphone manufacturer Micromax, Rahul Sharma in 2019, Revolt Motors has its line of electric bikes called EV300 and EV400. These electric bikes also support AI-powered features like geo-fencing, geo-location, battery swapping and monitoring, and changing the sound of the bike so that it’s not silent.
5. Ultraviolette Automotive
Founded by Niraj Rajmohan and Narayan Subramaniam in 2015, Ultraviolette Automotive is building its super ebike called F77 which goes from 0–60 in less than 3 seconds and has a top speed of 147 km/hr. Talking about range, the F77 can travel between 130–150 kilometres on a single charge, and you can easily swap out old batteries for new ones.
4. Tork Motors
Founded by Kapil Shelke and three of his classmates, Tork Motors has created a line of its flagship electric bikes. This electric vehicle startup is set to launch its latest T6X ebike in June 2021 and has already seen a keen interest from its customers as they received more than 1,000 pre-orders within the first 24 hours
3. Yulu
Founded by InMobi’s co-founder Amit Gupta, along with Naveen Dachuri, RK Mishra, and Hemant Gupta in 2017, Yulu is a Bengaluru-based electric scooter rental startup. It offers a bicycle called Yulu Move and an electric scooter called Yulu Miracle, which can be rented using its smartphone app. Till date, Yulu has raised $19.9 million (Rs 147 crore) from investors like Bajaj Auto, Rockship.vc, Wavemaker Partners and 3one4 Capital, valuing the company at Rs 585 crore ($78.8 million).
2. Ather Energy
Founded by Tarun Mehta and Swapnil Jain in 2013, Ather Energy is an electric vehicle startup that is building smart and stylish electric scooter for the Indian market. Their first electric scooter was the Ather S-340 and they used the money from its sales to build its more advanced Ather 450 and Ather 450X. Besides this, Ather has also set up a charging station network called Ather Grid. Valued at Rs 1,405 crore ($189 million), Ather Energy is one of the most valuable electric scooter startups in India.
1. Ola Electric
Unsurprisingly, Ola Electric is the number 1 electric vehicle startup in India. Branched off from cab aggregator Ola Cabs, Ola Electric was started with the aim to bring 1 million electric vehicles on Indian roads by the end of 2021. They are already working towards this goal. They own an Amsterdam-based EV manufacturer Etergo and are also planning to set up the world’s largest electric scooter manufacturing plant in India which will help them manufacture and sell electric scooters. In order to achieve this, so far, Ola Electric has raised $307 million (Rs 2,277 crore) from investors like Softbank, Kia, Hyundai, Tata, Tiger Global, and Matrix Partners India, and it’s now valued at over $1 billion (Rs 7,418 crore).
✨Pravaig Dynamics which is one of the first serious premium electric car manufacturing startups in India.
The Pravaig Extinction is expected to be one of kind EV when launched in the market. It is a luxury EV and will offer features as good as a Mercedes-Benz S-Class. Pravaig has ties up with architects, fashion designers, interior designers to design the cabin. The interior of the car is not revealed however, Pravaig claims that it will get lounge like cabin, extended legroom, reclinable rear seats, ambient lighting, premium audio system and so on.
It is powered by a 96 kWh battery pack and generates roughly 200 Ps. The car is capable of achieving a top speed of 196 km/h. The car will support fast charging which enables to recharges the battery from 0–80 percent in just 30 minutes. This upcoming EV has a driving range of approximately 500 kms on a single charge. It might also get autonomous driving system. Because of all the features and technology on use, it is even being called as Indian version Tesla.
👏Here are some of the honorable mentions for the top EV startups that didn’t make it to the top 10:
- Ampere Electric
- AMS Electric Mobility
- ATI Motors
- Atumobile
- Batt:RE
- Celestial E-Mobility
- Cell Propulsion
- Everve Motors
- Evolet
- Kabira Mobility
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