13/11/2018
PUNE: With the
growing concerns regarding the pollution and rising prices of oils, Indian
government has ramped up its efforts to promote the adoption of electric
vehicles in the country. Various initiatives have been launched by the
government, in order to help the country transition from oil-powered vehicles
to electric vehicles, pursuing its goals of cleaner future.
In 2013, the government of India launched the National
Electric Mobility Mission Plan (NEMMP) 2020. The initiative is aimed at
promoting national fuel security by promoting hybrid and electric vehicles in
the country. The government is looking to achieve 6-7 million hybrid and
electric vehicle sales year on year, starting 2020.
Under the NEMMP 2020, the government of India launched the
scheme Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles
(FAME India), with an initial allotment of Rs. 75
crore in the Union Budget 2015-16. Leveraging the opportunities
presented by the market and support of the government, a number of Indian
startups have started to focus on electric mobility solutions.
Tork
Motorcycles
Pune-based electric vehicle startup Tork Motorcycles was
founded by Kapil Shelke in 2010. The startup designs and manufactures electric
performance motorcycle. Its flagship product is Tork T6X, a smart and technology-driven
electric motorcycle. In May 2018, Tork raised around Rs. 45 lakh from Ola co-founders Bhavish Aggarwaland
Ankit Bhati. Earlier in February 2018, the startup had raised Rs. 30 crore in a funding round from Bharat Forge.
Ultraviolette
Automotive
Bengaluru-based electric mobility startup Ultraviolette
Automotive was founded by Narayan Subramaniam and Niraj Rajmohan in 2015. It
aims to create sustainable urban transportation driven by clean energy. It is
focused on building electric vehicles to enable a clean transportation
ecosystem. The startup plans to launch its first two-wheeler by the end of
2019.
TVS Motor Company-backed Ultraviolette Automotive has a team
of 45 members from aviation, automotive, and consumer electronics background
and are focused on developing electric motorcycles embedded with smart features
like onboard diagnostics, preventive maintenance, over the air upgrades, and
ride customization.
Ampere
Vehicles
Coimbatore-based Ampere Vehicles was founded by Hemalatha
Annamalai in 2008. The company manufactures and also designs, develops and
markets electric vehicles including cycles, scooters, and three wheelers. Earlier
in August 2018, it was reported that Greaves Cotton is set to acquire a 67%
stake in the electric vehicle startup for Rs. 77
crore.
Previously in April 2016, Ampere Vehicles last raised an undisclosed amount of
funds from Kris Gopalakrishnan, co-founder of Infosys and Chairman of Axilor
Ventures.
Emflux
Motors
Bengaluru-based electric vehicle startup Emflux Motors was founded
by IIT Delhi graduate Varun Mittal, along with Ankit Khatry and Vinay Raj
Somashekar in 2016. The startup is looking to create an ecosystem of 10 million
electric two-wheelers in India by 2027. Emflux is looking to capture the
electric vehicle market with its smart and premium electric motorcycle Emflux
One. Emflux has raised more than $500,000 in funding across all rounds,
according to Crunchbase. It also counts Samar Singla, Co-Founder of Jugnoo,
among its investors.
Strom
Motors
Mumbai-based smart mobility startup Strom Motors was founded
by Pratik Gupta, Jean-Luc Abaziou, and Dr Gimer Blankenship in 2011. The
startup aims to create clean and smart mobility solutions through sustainable
automobile technology.
In line with the goal of a cleaner future, Strom Motors
unveiled its flagship product Strom-R3, an intelligent electric car. Strom-R3
is a fully electric car, which has all the luxuries of a premium car, including
air conditioning, to suit the needs of its users. In September 2018, Strom
Motors raised an undisclosed amount of seed funding from Indian Angel Network.
Twenty
Two Motors
Gurugram-based smart electric scooter startup Twenty Two
Motors was founded by Parveen Kharb, along with IIT Delhi graduate Vijay
Chandrawat in 2016. The startup works with latest technologies like artificial
intelligence, lithium-ion storage, internet of things, and advanced electric
power trains to power the smarter and cleaner vehicles of tomorrow. Its
flagship scooter Flow is designed for the Indian market, providing all the
premium features.
Last month, it was reported that Twenty Two Motors will be
getting Rs. 480 crore from Taiwan-based vehicle manufacturer
Kymco, for a 25% stake in the electric vehicle startup.
Okinawa
Autotech
Gurugram-based electric two-wheeler startup Okinawa Autotech
was founded by Jeetender Sharma and Rupali Sharma in 2015. The startup aims to
build a cleaner and greener future by building affordable and eco-friendly
e-scooters for the Indian market. Okinawa provides a range of electric
scooters, namely Ridge+, Ridge, and Praise, based on the needs of its
customers. Powered by green technology, Okinawa has its manufacturing facility
in Bhiwadi, Rajasthan, with more than 200 dealers in its network. The startup
has also partnered with Pizza Hut, Vogo, Fae Bikes, and KDM Group.
ION
Energy
Mumbai-based energy storage startup ION Energy was founded by
former Haptikemployee Akhil Aryan in 2017. The startup has developed its
flagship battery, coupled with its proprietary battery management system and
other energy efficient technologies, to accelerate the adoption of electric
vehicles and boosting the ecosystem. In
May 2017, ION Energy raised an undisclosed amount of funds from Haptik
Co-Founders Aakrit Vaish and Swapan Rajdev, and Sushill Jiwarajka, Founder of
Nippon Batteries, according to Crunchbase.
Cell
Propulsion
Bengaluru-based electric mobility startup Cell Propulsion was
founded by Nakul Kukar and Paras Kaushal in 2016. The startup provides
futuristic technology for building autonomous electric vehicles. Its
application agnostic innovation platform Simba, enables quick and easy system
integration and reduces robotics project development time. It also offers other
hardware solutions like energy storage, charging stations, and electric drives.
In January 2018, Cell Propulsion raised Rs. 70
lakh in funding.
Ather
Energy
Bengaluru-based electric vehicle startup Ather Energy was
founded by two IIT Madras alumni Tarun Mehta and Swapnil Jain in 2013. The
startup focuses on designing and selling premium electric scooter for the
Indian market. The startup launched its first smart electric scooter in
February 2016. These scooters come with smart features like an interactive
dashboard with in-built navigation, Ather app, to manage vehicle diagnostics,
view ride patterns, and tips to improve ride performance, remotely.
In July 2018, Ather Energy last raised $19 million in funding
from Hero MotoCorp, taking its total funding to $59 million, according to
CrunchBase. The startup also counts Tiger Global Management and Flipkart
founder’s Sachin Bansal and Binny Bansal, among its investors.
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