What are your views on the growth of India’s automobile sector and your company’s future role in it?
We are optimistic about the future. The entire automotive industry, including component manufacturers is witnessing great progress in terms of sales and expansion. The world is witnessing the third automotive revolution to say so already, along with transformation of the industry and emergence of new-age technology-led mobility solutions in every form of mobility.

Further, India has solidified its position as the third largest automobile market in the world. During the fiscal year 2023-2024, our industry produced 28.43 million vehicles including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles. Globally, India is the largest tractor manufacturer, second-largest bus manufacturer, and third-largest heavy truck manufacturer. Success in this era of new-age mobility depends on collaborations among multiple stakeholders who will anchor this evolution. At Spark MINDA, we are focusing on premiumisation of legacy products, investments in new-age mobility solutions, future collaborations and for our customers in B2B and B2C segments. The company is also implementing initiatives towards electronification as well as strengthening and expanding the group’s presence as a complete automotive system solution provider, both in India and global markets as well.

How would you rate Spark MINDA’s business performance in the past four years?
Spark MINDA is a customer driven organisation and is transitioning towards becoming an advanced technology solutions provider. With a strong focus on innovation and development of cutting-edge automotive products, our investment in R&D has doubled over the past three years, enabling us to stay at the forefront of technological advancements. Over the past four years (FY2020-2024), Spark MINDA has made remarkable progress, with our revenue doubling besides significant improvements in margins. Our revenue has grown steadily at a compounded annual growth rate (CAGR) of 25 percent while our EBITDA has seen a remarkable CAGR of 33 percent.

Our Electric Vehicle (EV) order book has increased sevenfold in just three years, demonstrating our strong position in the evolving automotive market and our ability to meet demands of future mobility. Moreover, we are equipped with best-in-class testing facilities including EMC/EMI, hardware-in-the-loop (HIL)/software-in-the-loop (SIL) and Surface Mount Technology (SMT) facilities along with a unique design studio. These facilities empower us to ensure the best quality and reliability of our products, driving customer satisfaction and loyalty. Going forward, we will continue to drive innovation, deliver advanced automotive solutions and play an active role in shaping the future of mobility.

Tell us about your future business strategies and investment focus.
We will continue to focus on growing our legacy portfolio while targeting new business through aggressive investment in R&D. We are moving ahead aggressively to leverage the fast-emerging opportunities in the EV sector. Going forward, we expect domestic demand to remain strong based on improved consumer sentiments, product premiumisation for urban centres and new vehicle launches. We are also keeping a close watch on how the exports market unfolds. Moreover, stabilization of commodity prices is expected to aid improvement in underlying margins. Our focus on premiumisation and technological advancement, coupled with robust testing infrastructure and increased research and development investments positions us for continued success in the dynamic automotive landscape.

What is your strategy for exports?
We are actively concentrating on expanding our exports operations and nurturing partnerships as part of our growth strategy. Currently, overseas revenue contributes to 13 percent of our total turnover and we are closely monitoring developments in the exports market. Spark MINDA is committed to further strengthening this segment and expanding revenue streams for sustained growth.

What are the challenges faced by you?
Firstly, as we are witnessing a rapid technology transition in the Indian automobile industry. We feel procuring the right talent and nurturing it for the future is one of our biggest challenges. At our end, we are trying to absorb the best talents, ensuring future growth and success of the company. Secondly, the industry is also witnessing significant geopolitical headwinds compounded by sluggish growth in the commercial vehicle sector and also a decline in tractor sales, however we have shown resilient performance YOY, creating wealth for investors.

The post Interview: Aakash Minda, Executive Director, MINDA Corporation first appeared on Turbocharged.

KEL is a leading provider of auto systems for various domestic and global OEMs, with a particular focus on transmission components and assemblies. KEL sets itself apart from its competitors by having a vertically integrated facility and the ability to manage the entire manufacturing process, from forgings to the production of finished products. This includes precision machining of housings to make the assembly process seamless, and the ability to supply fully equipped gearboxes directly to customers’ production lines. While most OEMs usually handle these processes in-house, KEL has become a specialist in this niche by delivering integrated solutions. Moreover, KEL has expertise in all specialised processes such as laser welding, heat treatment, and premium painting, and uses cutting-edge equipment for rigorous inspection. This meticulous approach ensures the production of high-quality products, providing customers with complete control over the entire manufacturing process.

Could you explain how KEL’s technological advancements contribute towards automotive efficiency and sustainability?

KEL’s technological strides significantly enhance automotive efficiency and sustainability. Notably, the in-house development of axles and gearboxes for electric vehicles, ranging from 1 kW to 5 kW, is a substantial leap, reducing dependence on imports from China. This move not only bolsters the electric vehicle sector but also fosters domestic innovation.  Additionally, the incorporation of advanced manufacturing techniques such as laser welding and rack rolling empowers designers to create more cost-effective and superior-quality products.

How does KEL fulfil its commitment to eco-friendly manufacturing?

At KEL, our commitment to eco-friendly manufacturing is evident through strategic initiatives aimed at minimising our environmental footprint. Notably, we’ve installed a 1.8 MW solar project, with plans to scale it to 6 MW, showcasing our dedication to sustainable energy sources. With a legacy of a 50-year record of holding Environment Pollution Control Board licenses, we’ve transitioned from traditional oil and coal-based heating methods to efficient electric solutions, significantly reducing our carbon footprint. Moreover, our efficient operations include an ETP & STP plant, ensuring proper waste management and environmental protection. 

KEL deals with OEMs across the world. How does it leverage its influence to shape the industry’s future?

KEL’s strategic collaboration with OEMs globally positions it as a catalyst for shaping the industry’s future. With a diverse clientele spanning the USA, Mexico, and Europe, KEL is uniquely positioned to showcase India’s manufacturing prowess on a global stage. This international network allows us to introduce cutting-edge technologies to our domestic market, positioning KEL as a hub for the exchange of advantages

Could you please elaborate on your strengths that enable KEL to cater to a diverse clientele?

As mentioned earlier, KEL’s strength lies in vertical integration, boasting a 50-acre plant with 26 manufacturing sheds. This allows us to seamlessly handle diverse client needs, delivering not only loose complex parts but also offering full control over the entire manufacturing process. Our capability spans from the first operation to the last, ensuring precision and flexibility. This integrated approach enables us to cater efficiently to a wide range of client requirements, guaranteeing top-notch quality and comprehensive assembly services.

How has the automotive industry’s adoption of Electric Vehicles impacted the business?

The automotive industry’s embrace of Electric Vehicles (EVs) has significantly impacted our business dynamics. The shift to EVs is diminishing the need for traditional engine and exhaust components, prompting companies, including ours, to innovate horizontally.  Our focus now includes developing transmissions and axles tailored for EVs, diversifying into motor and battery technologies, and staying at the forefront of the evolving landscape. While the transition necessitates adaptability, our customers actively collaborate to replace existing business models. This synchronised shift allows us to navigate the changing market dynamics and contribute to the progressive momentum of the automotive industry towards sustainable and environmentally friendly solutions.

Where do you think the industry is headed; which technology will be the most sought-after in the future, and where does KEL fit into this ecosystem?

The automotive industry is rapidly shifting towards Electric Vehicles, AI, and Automation. KEL is strategically positioned for this transition, actively developing products for the electric vehicle market, and fostering partnerships with key technological players. This will enable KEL to maintain a strong presence in the dynamic landscape of electric and automated technologies and position itself at the forefront of the evolving industry.

The post Interview with Ajinkya Firodia, MD, Kinetic Engineering first appeared on Turbocharged.

In the crowded Indian EV two-wheeler market flooded with multiple players, e-Sprinto distinguishes itself through a combination of unique features, unwavering commitment, and a customer-centric approach. Our standout features include a focus on affordability and sustainability, with attractively priced electric scooters that boast low energy consumption of just 1.5 units per charge. This makes e-Sprinto not only a cost-effective but also an eco-friendly choice for riders. What truly sets us apart is our emphasis on user experience, combining state-of-the-art technology with rigorous quality assurance. We design our electric scooters with precision and comfort, ensuring they are well-suited to the demands of Indian traffic conditions. Additionally, our commitment to innovation and a diverse range of models, including the e-Sprinto, e-Sprinto BB, Roamy, Rapo low-speed scooters and the widely popular e-Sprinto HS and Amery high-speed scooters, caters to various customer preferences, providing choices that align with their needs and lifestyles.

What are the challenges you are facing in logistics of sourcing materials?

In the logistics of sourcing materials for e-Sprinto, we encounter several challenges that require strategic management. One significant challenge is ensuring a stable and timely supply chain for essential components. The global nature of supply chains, compounded by external factors like geopolitical events and shipping delays, poses a risk to the consistent availability of materials. Additionally, the dynamic nature of the electric vehicle industry demands staying abreast of evolving technologies and sourcing cutting-edge components, which can sometimes face limitations in terms of production capacity or availability. Our commitment to maintaining high-quality standards further intensifies the challenge, requiring rigorous screening of suppliers and adherence to stringent quality controls. Despite these challenges, we employ proactive strategies, foster strong supplier relationships, and explore alternative sourcing options to ensure a resilient and efficient logistics process in material procurement for e-Sprinto.

What is your marketing strategy, and how are you planning to expand your after-sales service network?

Our marketing strategy at e-Sprinto revolves around a multi-faceted approach designed to create brand awareness, engage with our target audience, and emphasize the unique value propositions of our electric scooters. We leverage digital platforms, social media, and targeted online campaigns to reach a wider audience, especially considering the increasing reliance on digital channels. Collaborations with influencers, strategic partnerships, and participation in relevant events further contribute to our visibility and brand positioning in the electric vehicle market.

To expand our after-sales service network, we’re strategically focusing on two key aspects. Notably, we are increasing the number of dealership cum service centres across geographies to ensure accessibility for our customers. This includes establishing more dealership cum service centres in regions with high customer density and expanding our existing network. In addition, we leverage technology to streamline service requests, track maintenance schedules, and offer online support to further elevate our after-sales service experience.

Are you going to offer recycling services to the customers?

While we at e-Sprinto do not currently offer recycling services, we’re actively exploring opportunities to introduce eco-friendly initiatives that align with our commitment to sustainability. We continuously evaluate ways to minimize our environmental footprint and are open to considering recycling programs or partnerships in the future to enhance our eco-friendly practices.

In your opinion, what are the changes you feel is required in government policies to make EV adoption an easier process for customers?

Several changes in government policies can considerably ease the process of electric vehicle (EV) adoption for customers. First and foremost, implementing robust incentives and subsidies, such as tax credits, reduced registration fees, and purchase incentives, would make EVs more financially attractive. Creating a comprehensive and well-distributed charging infrastructure across the country is crucial, ensuring that EV users have convenient access to charging stations, alleviating range anxiety, and encouraging more people to switch to electric vehicles. Additionally, offering incentives or support for manufacturers to develop and produce more affordable and diverse electric vehicle models would expand choices for consumers. Furthermore, streamlining and simplifying the certification, licensing, and regulatory processes specific to EVs would help reduce bureaucratic hurdles and enhance consumer confidence in adopting electric vehicles. 

The post Interview with Mr Atul Gupta, Co-founder & Director of e-Sprinto first appeared on Turbocharged.

Completing two years for a product that gave us the opportunity to redefine the brand in India is a big one for us. It has been doing well but of course, it definitely needs to do better. We have been focussing on getting more features and variants into the Taigun lineup to reach new customers, new price points and also stay relevant in the market. Over this year, we first came up with the GT Edge collection where we introduced the black paint job and manual transmission and also the matte edition. Now we have added new features like the twin front electric seats, upgraded infotainment package and footwell illumination. It’s all about how fresh and relevant you can keep it.

You are completing three years at the helm of Volkswagen India too, how has the journey been?

It’s always exciting when you get to reinvent a brand and launch new products. The past year has been about keeping momentum and making sure we focus on the operational part of the business because the initial buzz dies away very soon in the Indian market. We have to stay grounded, make sure we look at what is coming up, how customers are responding to not only our products but also to our communication and messaging and make sure we stay relevant in customers’ minds. That’s been the effort this year, trying to meet customer expectations. It’s been a good journey, but I think the key is to stay hungry, there should always be something which keeps you awake in the night, to look forward to the next day. So yes, I am as hungry as when I started.

This year we’ve seen you introduce a fair number of additions and updates to the Taigun and Virtus both. Please tell us about those.

The GT Edge collection was born out of the realisation that the market has moved towards the premium end and that customers looking for a Volkswagen are looking for something exclusive. That’s why we introduced the manual on the GT and the topspec GT plus variants. We also introduced options like grey and matte and still have a couple of other aces up our sleeve, which we will reveal soon. As I said, keeping the products current and introducing new features is how we have been tackling product upgrades this year.

The past couple of years we have also seen you go with a digital-first strategy. How is that shaping up?

Digital became the buzzword during COVID-19. Everybody jumped on the bandwagon and felt digital is here to stay. There are several parts to the digital journey though. One is the communication journey where digital is here to stay, and we see more and more marketing investments moving towards the digital phase. But you have to strike the right balance, other mediums of communication are as relevant as they were earlier. The other part is digital customers to customer’s digital journey. From prospecting to onboarding to buying a car. Here we undertook a lot of initiatives to offer an end-to-end customer digital journey. The past one and a half year, it has plateaued out as anticipated though. Now that the market is open, customers still want to touch and feel a car before buying it. But the success we achieved was good insight and we launched the GT Edge collection. We made it an exclusive collection, available online only. It received a stupendous response and in a short span of time, we have got 1,500 bookings. The GT Edge collection is sold out till January. It shows us a template of how to go for the digital journey for customers: make it exclusive, make it something they cannot get anywhere else.

EVs are the buzz and are getting mainstream. What are your thoughts and what can we expect?

This has been known for the last two or three years and development is on expected lines. We have been speaking about this subject for two or three years, and exactly what we predicted is coming true. Two years back electrics were less than 0.5 percent of the total market share. The last data I saw, it is already reaching three percent. So it is in the right direction and we see mass electrification in India happening towards the second half of the decade, maybe 2026 onwards. Of course, it is in discussions and planning stages, but electrification is the way ahead for the brand globally, and of course in India as well.

2023 turned out to be very good, we have seen record numbers. Your thoughts about 2024?

When we started out in January, we were looking at around 3.6 million units. By all the trends we see, the industry is likely to touch four million. So the growth is naturally more than what the industry or market expected. 2024 should continue that trend, there will be a natural plateauing happening, maybe we will not see the kind of growth that’s been happening over the past couple of years, but this year again, growth has touched 10 percent. So I do expect that the market will grow by another six to seven percent next year, which is good news for the industry.

The post FORGING AHEAD! first appeared on Turbocharged.

Tell us more about the Oben Rorr.
We launched our first product, an electric performance motorcycle named Rorr, in March 2022. The motorcycle offers a range of 200 Kilometres (IDC) and can accelerate from 0 to 40kmph in three seconds. It has a top speed of 100kmph and can be fully charged in two hours.

The Rorr electric motorcycle has been completely designed, developed, and manufactured in-house by experienced professionals in the EV domain. Besides providing Indian riders with a neo-classic design, Rorr also offers practicality and a performance-oriented riding experience. Three colour variants are available to consumers at the moment – Electric Red, Voltaic Yellow, and Magnetic Black. The Rorr has 18 patents filed for critical components like motor, battery, controller, drivetrain, and design. It also has interactive connected vehicle features such as predictive maintenance, ride details, battery status, Geo-fencing, Geo-tagging, battery theft protection, charging station locator, on-demand service and roadside assistance. Its ‘Driver Alert System’ provides riders with visual and auditory cues, indicating when the vehicle is on, stationary or requires maintenance.

How does Oben Electric plan on capturing the market with the existence of big players such as TVS, Bajaj, and Hero in the 2W-EV space?
The Indian automotive industry itself is a very mature and conventional industry and is a huge market in terms of two- wheeler to purchase and use, across Asia. Firstly, we intend to provide Indian consumers with ICE comparable EV products and help them through a seamless transition. Besides selling electric two-wheelers, we are focused on after- sales service. Secondly, we are focusing on launching four products in a span of two years across different consumer segments. We also foresee ourselves selling 1 million units across Domestic and International markets in the next five years. Thirdly, we will be creating 3,000 direct jobs, touching millions of lives through our product, and playing an important role in the green initiative mission of the country. We are an R&D-focused and technology-driven company. Hence, we believe in designing, developing, and manufacturing grounds up than retrofitting or reverse-engineering.

What is your take on the recent mishaps which have occurred with electric scooters catching fire?
It is very unfortunate that a spate of events has occurred in recent times. We have had great EVs not just in India but around the world, that have helped consumers with savings in every way and fostered sustainability while going green. There are several aspects to delve into and consider with great depth and detail here. An electric vehicle is a meticulous and comprehensive technology and not just a battery on wheels. An understanding of its application, usage, composition, harmonious balance of elements, battery structure, cell type, and adaptability to different demographics as well as geographies requires years of expertise, spot-on technical know-how, and last-mile appropriate handling.

Not only the infrastructure, but the overall R&D which is necessary to sustain the Indian market and region is still in the early stages. Where does Oben Electric look itself in the coming years, given the current situation?
When Oben Electric was founded, the Indian EV industry was evolving. There was a dearth of EV skill sets, which was a major challenge faced as a new and young brand to attract the right talent pool. But with prior successful entrepreneurial and years of EV experience, the company was able to navigate through these challenges and launch its first product in March 2022 that had been designed, developed, and manufactured in-house.

It is our team’s strong technical expertise and years of industry acumen with which we have been able to file 18 patents for Rorr’s critical components like motor, battery, controller, drivetrain, and design. Our team is adept at designing specifically for the EV Industry whilst having a deep understanding of consumer needs from its prior EV experience. We are an R&D-focused and technology-driven company. We foresee that it is this innovation that will herald the EV industry at a level comparable to the overall Automotive industry globally. Currently, we are one of the first to manufacture electric motorcycles in the country. We do not believe in offering consumers any product that is retrofitted or re-engineered. This is a whole new segment that awaits technology-centered electric vehicles, and we are glad that we are at its forefront.

For a novel industry such as this in India, R&D, know-how, and technical skill sets are growing steadily as we speak. There are advanced courses today in these areas for individuals who wish to make a career in the EV Industry. With new and advanced technology coming from a skilled workforce in-house, India will now witness it’s very own home bred EVs.

What kind of future launches can we expect from Oben Electric?
We are now launching four new products over a span of two years. These will be a mix of motorcycles and scooters, addressing different consumer segments.

The rumour says that the Ministry of Road Transport and Highways (MoRTH) will soon issue a circular to all Regional Transport Offices (RTOs) and to the SIAM (Society of Indian Automobile Manufacturers) regarding the safety measures for electric two-wheelers, is Oben Electric ready to implement those changes?
We are aligned with the country’s electric mission and support the Government’s initiatives to create a sustainable clean-green mobility solution and bolster the seamless transition from ICE to EVs. Earlier, we have urged and requested the government to help regularize EV grade cells to ensure better performing EVs in India. We always ensured these and have also made sure to bring about quality and performance to our consumers. We have followed an SOP according to which we have undertaken quality checks when receiving cells to ensure their grading to maintain the harmonious balance of these cells within the battery over the years. More than an SOP, we have ensured that we have spent ample time in understanding and building a product with years of technical expertise to match the Indian market, Indian consumers, and the Indian topography. We have a ground-up Made-in-India product.

Have there been any challenges in locally sourcing raw materials for the Oben Rorr?
Due to the sector being new, there was a supply chain issue while developing our product in-house and grounds up. But with our prior successful entrepreneurial and years of EV experience, the company was able to navigate through these challenges and launch its first product in March 2022 that has been designed, developed, and manufactured in-house. Rorr is a truly ‘Made in India’ product. Currently, there are 400+ OEM’s, component manufacturers, and suppliers thriving in the Indian EV Industry.

Why should the customer opt for Rorr, especially with the existence of established players in the market space?
Our first electric performance motorcycle offers the highest range (200Km IDC), highest acceleration (0-40Kmph in three seconds)a top speed of 100kmph and two hours of charge time. Rorr is all about performance and charging time whilst keeping Indian consumer needs in the mind. Rorr has 18 patents filed for its critical components and we have undertaken QCs over the years to ensure top-notch quality is delivered to our consumers. More than an SOP, we have ensured that we have spent ample time in understanding and building a product with years of technical expertise to match the Indian market, Indian consumers, and the Indian topography. Rorr is a Made-in-India product ground up backed by a team that is adept at designing specifically for the EV Industry whilst having a deep understanding of consumer needs from their prior EV experience. Since, we are an R&D-focused and technology-centric company, we do not believe in offering consumers any product that is retrofitted or re-engineered.

The post Interview with Dinkar Agrawal first appeared on Turbocharged.

When we started EMotorad as a premium e-bike brand and were looking into how to position our product, we knew we had to first give India a taste of what exactly an e-bike is – it cannot be done with a low-quality or sub-par product. The price point was not a concern, but the right sort of quality definitely was. While building a high-quality product, the price automatically went up, and that is how our e-bikes shaped up. When we launched in 2020, it was still very early days, and the country adopted e-bikes at a promising scale, that is how we got the flywheel rolling. As and when the scale increased, our prices dropped proportionately. Today we’ve stabilised costs and offered customers three different categories – X- factor, Desire, and Elite at very attractive price points. I believe India will keep adopting these e-bikes in ever-increasing numbers, as and when customers experience them for the first time. From our side, we wanted to give them the absolute best right at the outset, and that’s why we launched with a high-end e-bike. In a way, it proves our capabilities to the market.

Briefly tell us about the response you have received for the premium cycles in India and also for your economy range.

Well starting with e-bikes in India, we’ve got a fantastic response. People have started recognizing that e-bikes can be a multi-purpose tool. It is what you might call an actual hybrid – you can use it for both commercial as well as professional purposes. I believe people have started using them not only for normal weekend biking but also to commute to offices, which is a fantastic use-case, one that we want to build and promote. Globally too, these are the most popular use-cases that we see being tapped into and these are quickly providing the necessary business volumes. Take economic ebikes, these are being bought by the crowd who went into the store to buy a normal bike for 10-15k and instead paid the remaining delta and upgraded to an ebike. Why? Because they saw the value addition that an ebike would bring. I think that is still early days, but we are off to an extremely good start – there are even kids who have adapted to ebikes, and I think we have a long way to go to tap into the true market potential.

You have recently expanded your business to offline stores in India while other competitors are inclined towards expanding their reach online. What was your reason behind it?

We strongly believe that an e-bike is definitely a touch-and-feel-based product and falls under a very new category in India. People need to ride one to get an idea of its power and potential and so, for us, offline cannot be ignored. We are not only focused on either purely online or purely offline, we are more of an omnichannel company – we are the highest seller on Amazon, and we sell through our own website and other e-commerce platforms as well. But apart from that, we have a 200+ strong offline presence across the country, and I think that makes our consumers’ faith in us unshakeable. This also gives us a strong aftersales presence in the ecosystem. Cycling as an industry doesn’t need much after-sales support, but the e-bike industry does, and that is where our offline network comes into play.

What are your future plans for further offline retail business expansion?

We have opened 3 exclusive business outlets in the country apart from our 200+ multi-brand dealers. We plan to expand these exclusive business outlets to around 7-10 stores within the next year itself. We’d love to be present in the multi-brand outlets. The strategy is very clear. In multi-brand outlets, people are coming in to buy a traditional cycle, and end up upgrading to an e-bike. We want that comparison to be drawn between the two seemingly different segments. It helps demonstrate how much more polished and practical our product is, so it works as a good strategy for us.

You started out with Desert Eagle and Nighthawk, both named after iconic firearms in pop culture. Why did you not continue that naming trend for your more affordable offerings?

Yes we did, and maybe in the future, you will see us launch more products under this banner, within the ultra-premium range. At present, it is a marketing call and I don’t have much of a say on it. Our consumer base surely definitely does seem to love them though.

What kind of percentage is the ultra-premium e-MTB segment as compared to the overall MTB market in our country, which is already a niche market?

The ultra-premium niche is infinitesimal right now in India, but MTBs are seeing very good market acceptance as a product category, as they are seen as far more versatile. People are still learning more and more about MTBs every day and I think this rising awareness will be reflected in the sales volumes as we go forward.

There seems to be a bit of a gap in the lineup, as the EMX is roughly 1/9th the cost of your top-of-the-range offering, the Nighthawk. What are your future plans regarding filling this gap?

Currently, we are focussed on the range that sits between Rs.30-60k range, because that is what makes the most business economic sense. As we move forward, probably by the mid of next year, we’ll be launching some more exciting new products in the Elite range which might start at Rs.1 lakh or more.

The post Interview with Kunal Gupta, Co-Founder and CEO, EMotorad first appeared on Turbocharged.

In densely populated countries like India, at-home unreliable and fragmented electricity grid charging is never an option; 80 percent of EV charging occurs in public spaces. With the EV manufacturing space already crowded with a bunch of legacy companies having immense financial backing, start-ups are not an easy, scalable model.

With the rising demand for EVs, we saw a chicken and egg situation in the space and it aligned with our goal to make sustainable transportation a reality. Our shared passion for environmental conservation and our will to converge Akshit’s capabilities as an electrical engineer and Raghav’s passion for innovation and data analytics to further that cause is what led to the birth of Statiq. We don’t have plenty of time and have to make smart choices every day to save our resources. That’s the basis of our vision consolidation in the form of this unique start-up – with a bid to build India’s smartest EV charging network, one charger at a time.

E-mobility is one of the smartest choices of our times and it’s becoming increasingly popular. And Statiq has always been about contributing not only by way of charging infrastructure development to spread the advent of advanced EV tech but also by information dissemination to spread awareness.

2. What are your upcoming plans, launches, and future growth in terms of expansion and revenue in the next 2-3 years?

We have recently launched our Statiq-made 60kW DC charger called Canvas along with a residential 22kw Dual Gun AC charger named the AdWall. With this launch, we have a gamut of offerings, ranging from a 3.3kW smart socket to a 60kW DC combined with tech solutions-curated in-house, which aligns us with our goal of providing an accessible, affordable and reliable charging network. Regarding network expansion, we have been strategically expanding into regions and catering to relevant demand to create an ecosystem that ensures overall value to all stakeholders in the ecosystem.

3. You’ve been in the EV space for three years which is long enough to assess how the next five years for this space will shape up. What trends do you foresee picking up?

We see the trend of increasing EV adoption to continue at the current momentum and, on the lines of forecasts by multiple reports, we also see the possibility of 30 percent of overall EV vehicular traffic being exceeded as a whole.

4. What makes Statiq different from other EV charging manufacturers, what problem you are solving with your product solution?

Statiq is the dream of two young co-founders built to be solution-providing pioneers in a specialised yet necessary arena, and in the most affordable manner possible. For EV owners, we provide in-house charging systems with optimum services, and also in-house public charging station management systems. Statiq also aims to provide on-the-go charging solutions as easily as booking a ride on apps, through their Statiq EV charging app (https://play.google.com/store/apps/details?id=com.statiq&hl=en_IN&gl=US). By getting on the app, one can discover the closest charging station, book a slot, and pay online. In this manner, they have eradicated all worries in the path of switching to EV usage by providing easy, affordable, convenient charging solutions that are extremely accessible.

Knowing that Statiq EV charging is not a one-size-fits-all solution, Statiq also provides two kinds of charging: slow and fast, and in two formats—pillar and circle, and across vehicle types – from two and three-wheelers to four-wheelers.

In the initial stages, many companies imported products from Europe and China, and adapted them to Indian conditions while using third- party software to ensure integration – this process does not assure service at all. We made products for India, in India and by Indians thus ensuring complete relevance to the Indian ecosystem.

5. What are your thoughts on the policies surrounding the EV space and is there something more that can be done from a governance perspective?

Statiq embraces the delayed, phased roll-out of the EV battery norms prescribed by the government. This gives all of us stakeholders the much-needed time for proper testing and evaluation. The move is a step in the right direction for the overall, long-term prosperity of the EV industry. The staggered approach towards the situation also ensures that manufacturers aren’t burdened financially by the sudden pivot and that they can ensure the necessary modifications, in the given time.

To facilitate the mass adoption of EVs and a robust charging network in India, it is essential for industry players such as Statiq to gain our customers’ trust. We are grateful that the Government of India understands this and has been gradually yet meticulously supporting the industry in every respect. The recent decision is the latest testament to their total commitment to the well-being of the EV network in India.

The post Interview with Mr. Akshit Bansal – Co-Founder and CEO of Statiq first appeared on Turbocharged.