EV start-up targets sales of 20,000 electric bicycles and 5,000 electric scooters this year.
12 Feb 2021 | 6000 Views | By Mayank Dhingra
Electric vehicles (EVs) and e-mobility are picking up pace in India as is quite visible from their growing sales numbers, as well as the increasing real-world population of these zero-emission modes of transport on the roads. And skyrocketing prices of petrol and diesel could also be a reason.
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Electric vehicles (EVs) and e-mobility are picking up pace in India as is quite visible from their growing sales numbers, as well as the increasing real-world population of these zero-emission modes of transport on the roads. And skyrocketing prices of petrol and diesel could also be a reason.
The Covid-driven lockdowns of 2020 have seemingly made countries and corporates realise the value in the work-from-home concept, which entails not just cost savings but also savings on the environment in terms of highly-reduced carbon emissions with lesser traffic.
Correspondingly, with the daily commute getting cut down substantially, individuals are also starting to give a thorough relook to their mobility choices, and mulling purchase of EVs. Established OEMs, both in the two-wheeler and passenger vehicle segments, are intensifying their focus on the EV market, which is witnessing several mushrooming start-ups and new players trying their hand at various entry-level e-two-wheeler and e-three-wheelers.
One such example is Noida-based Exalta, a young EV start- looking to get the most out of the opportunity. The company currently sells electric two-wheelers priced in the range of Rs 60,000 and Rs 90,000 with the advantage of offering removable lithium-ion batteries for ease of charging.
The company also specialises in electric bicycles with folding capabilities starting from Rs 23,000 and going all the way up to Rs 60,000. While it is confident of the impending boom in the segment, the current growth could be seen coming from tie-ups with e-commerce and last-mile delivery agencies of the likes of Delhivery and Transport Corporation of India. It now plans to rope in some leading courier services into its clientele list.
According to Ashutosh Verma, founder, Exalta (above), “EVs are the new future and this can be witnessed by the extensive use of EVs in last-mile delivery. Indian companies are showing keen interest in the EV category and if we go by the forecast statistics, the industry is bound to witness substantial growth in the next 10 years.”
Localised products
Exalta, a subsidiary of Insparc Technologies which operates in the green energy space, is also keen on the idea of self-reliance, and is relying on local sourcing of the chassis and motor of its electric two-wheeler products and claims to assemble them in-house at its factory in Noida. With a “few more” government certifications, it claims to be eligible to redeem the FAME-II subsidy as well for its customers.
While the parent company is understood to have invested Rs 25 lakh to kick off the venture, the growth thus far has been promising. Exalta is targeting sale of 20,000 electric bicycles and 5,000 e-scooters through its distributors across India in CY2021.
“We have a major focus on bicycles for FY2021-22 and are targeting sales of at least 20,000 bicycles for the fiscal year. Moreover, we are estimating around 5,000 units for the e-scooters,” Verma said.
The company had begun its EV operations by introducing a range of electric bicycles and with the products being well received by customers, it forayed into electric two-wheelers as well.
“Innovation and experimentation have no limits and we are planning to introduce more variations in these two main categories. The idea is to make them more user-friendly, stylish and contemporary, while being cost-effective and environment-friendly as well,” he added.
Exalta claims that its motor controller and battery-life enhancer circuit are the USP of its products, and these technological advancements also enable it to offer a five-year comprehensive warranty on all EV products.
Now, as EV sales are set to witness a record high in FY2021, Exalta aims to launch a range of new and innovative products. But, with its ambitious plans of selling upwards of 5,000 electric scooters, which is right in the territory of the top-selling e-scooters in the country today, Exalta will have its task cut out to manage supply chains, capacities, manpower as well as invest to expand its capabilities. We will keep track of how far it goes with its electric charge.