Top 5 Startups To Look For In The EV Sector (2022)
It is abundantly evident that batteries, and not gasoline, will be the power source for automobiles in the future given the rising cost of petroleum and the growing number of automobile manufacturers that are focusing on electric vehicles (EVs).
Even though corporations like Tesla have been at the forefront of the worldwide electric vehicle movement, they do not believe that there is a viable market for their products or services in India at this time.
As the old adage goes, you should put your money into the people and the ideas rather than the numbers, the Indian entrepreneurs clearly are driving innovation in this space; let's have a look at some of the top EV firms that are breaking through the competition.
1. Ather Energy: Bangalore's Boon
This is a Bengaluru-based EV startup launched in 2013 by IIT Alumni Tarun Mehta and Swapnil Jain, who have also established the Ather Infrastructure, a charging grid for EVs in Bengaluru. They are already making it big and are quite popular with the youth. They are supported by various investors, including e-commerce titans such as Flipkart. The Ather 450x and Ather 450 plus editions of their scooter are already available. The price of an Ather bicycle begins at Rs 1,41,621. The most costly Ather motorcycle is the 450X, which costs Rs 1,41,621.
2. Yulu- Rent A Ride Out
Another EV startup started in 2017 in Bengaluru by Hemant Gupta, Naveen Dachuri, R. K. Misra, and Amit Gupta. Their business approach is unique in that you cannot actually purchase their stuff. Instead of leisurely strolling to their desired destinations, individuals typically rent their autos in urban areas where the vehicles are readily accessible. They offer two distinct models: the Yulu Miracle, a dockless electric scooter, and the Yulu go, an electric bicycle.
3. Euler- Electrification of Transportation
Euler Motors, a company founded by Saurav Kumar, makes light commercial electric vehicles for intracity transportation. The business was founded in 2018 after Saurav sold his stake in a previous enterprise. This individual quit a $1 million-a-year career, demonstrating a degree of commitment rarely seen among entrepreneurs. Commercial EVs and battery Packs for their cars are their most prominent goods.
4. Kazam - Building India's Largest EV Manufacturer
Akshay Shekhar and Vaibhav Tyagi founded Kazam, an agnostic EV charging software platform that is constructing India's largest smart and cheap EV charging network. Through agreements with fleets, CPOs, RWAs, and OEMs, they were able to establish a charging network with over 3000 devices on our platform. Vision is to become the leader in EV charging in India and beyond by using our software and hardware skills. Currently, Kazam has over 3,000 recharge stations throughout India, promising more across and beyond the boundaries of India.
5. Storm - Taking The Automobile Industry By Storm
Pratik Gupta and Jean-Luc Abaziou started this Mumbai-based company that specialises in the 3-wheel and 2-wheel sectors in India. It introduced a new main product. The Storm R3 is an electric personal mobility vehicle. According to the unit fee, the R3 has a range of around 200 kilometres on a single charge and gives mileage of Rs 0.40 per kilometre. In addition, they believe that a full charge will take roughly three hours, the same as a conventional mobile phone. The car may cost approximately 4.5 lakh rupees, but the corporation may offer incentives for extending its client base, opting for a more affordable choice.
Ending words:
Countries are attempting to discover answers to the problem of global warming, which is one of the world's greatest challenges. Not just governments but also corporations and startups will play a significant role in addressing this issue.
As vehicle pollution is one of the primary contributors to global warming, clean mobility will play a significant part in combating the problem. Numerous electric vehicle (EV) startup companies in India now provide sustainable alternatives.
Indian EV businesses offer a variety of services to the general public and other organisations, including sustainable mobility, energy infrastructure, commercial mobility, and battery management solutions. In addition, they cut carbon emissions and provide a cheaper alternative to fossil fuels. As their objective is to assist the electric future, are we ensuring their survival by supporting their cause?
