Ghaziabad-based electric mobility start-up e-Ashwa Automotive plans to foray into a new business called the Hub model.
Speaking to Mobility Outlook, Vikas Gupta, CEO, e-Ashwa Automotive, said that the company plans to import EV components from China and supply it to OEMs in India through this model. He claimed that this will allow the OEMs to reduce the import time and save production costs.
Starting March 2022, the company aims to run this business model for the next two years. “This is a pure passive investment model and the aim we've set for the shareholders is a two-year commitment,” the CEO said.
The company aims to have a 6-7% revenue margin on each container, which it intends to invest in building the future product portfolio while expanding its reach.
Expansion
Starting in February 2018 as a multi-brand retail network and an e3W manufacturer, the startup recently unveiled 12 e2Ws in November 2021.The company plans to launch three new e2Ws, including two scooters and one bike, by April 2022. These vehicles are currently under the validation stage.
The e-scooters will feature a 1500W motor with two 60V 36Ah batteries giving a range of 160 kms, while the e-bike is slated to be powered by a 3000W motor with 72V 40Ah battery giving it a range of 110 kms and a top speed of 80km/h.
Furthermore, it also plans to launch an e2W loader by October 2022. This loader is expected to have a 160 kg maximum loading capacity while retaining an 80-90 kms of range. The product aims to enter the last-mile delivery market along with class B, C and D cities, which have most of the requirements for these kinds of loaders for personal use and commuting along with some goods, the CEO added.
The company recently claimed to have added 530 more dealerships to its network in Q3 FY22, taking the total to 730 dealerships across 26 states. The CEO further stated that by the end of this financial year, the company aims to have a network of 1,000 dealerships, including the North-East states where it is not present currently.
The company also plans to expand its reach to some international markets. “We are in very advanced talks with a few African countries as well as a few South Asian countries and hopefully Bangladesh will be the first country where we start our operation outside the country. This will happen in FY22 or the beginning of FY23,” he said.
In the long term, the e-mobility startup plans to convert from Make In India to Made In India. “We are eagerly waiting to become capable enough to stop our imports from China,” he added.
“We aim to build a whole ecosystem within our partners' capabilities so that we can not only produce EVs, but also make advancements in battery technology so that China's reliance on lithium sourcing may be minimised, if not eliminated,” Gupta concluded.