In this fast-paced market of personal and commercial use of E2Ws and E3Ws, a mobile service to charge your drained EV battery on a call may be a fresh new chapter for service providers. Reducing downtime and elevating range anxiety for consumers, Mobec brings a mobile charging setup to users through an app-based service. We discussed with Harry Bajaj, CEO of Mobec, who refreshed us by providing a comprehensive overview of the brand's origins, growth, and future aspirations.
Early Development & Expansion
The inception of Mobec arose from a personal challenge faced by Bajaj. As an EV enthusiast living in a high-rise apartment, he struggled with the practicality of charging an electric vehicle. This led to the innovative idea of a mobile charging solution, initially intended for personal use. Bajaj explains, “I thought that before buying an EV, I should have a solution of my own, so that I can buy an EV with comfort.” This personal need evolved into a business proposition, and Mobec was born.
Mobec officially commenced operations this year, but the groundwork was laid a couple of years earlier. Bajaj learned extensively and collaborated with engineers from various disciplines. The initial product, a mobile charging van equipped with a 50-kilowatt power bank and a DC charging solution, was a significant innovation as it did not require earthing.
The company began by offering B2C services, conducting beta tests in the Noida region and providing energy for free to around 100 customers. This phase was crucial for research and development as it allowed Mobec to gather valuable customer feedback. The positive reception and practical viability of the service led Mobec to shift its focus from B2C to B2B2C aiming to cater to fleet operators, OEMs, and roadside assistance providers.
Customisable Solutions for Businesses
Mobec's core strength lies in its ability to offer customisable mobile charging solutions. Bajaj emphasises that the company can redesign the structure of the charger and adjust the capacity based on the specific needs of businesses. This adaptability has led to the development of smaller products that can be mounted on two-wheelers making them ideal for delivery services and other businesses with large fleets.
One of the intriguing aspects of Mobec’s service is its reliance on CNG vans for mobility. While this may seem ironic given the company's focus on electric mobility, Bajaj points out that it is a pragmatic choice to avoid using diesel or petrol vehicles. The feedback from early customers highlighted the ease of access and the practicality of the service, with many appreciating the fast charging solution despite it not being able to fully charge a vehicle due to capacity limits.
Mobec is targeting tier 1 cities such as Delhi NCR, Bangalore, Mumbai, and Jaipur due to the higher penetration of EVs and greater business opportunities. The company has been in discussions with logistics firms and other businesses to integrate its mobile charging solutions into their operations, offering strategic hotspot areas along key routes for quick recharges.
Business Model
Mobec’s revenue model has transitioned from service-based to product sales, focusing on the B2B market. The company offers flexible solutions that can be tailored to existing fleets, thereby enhancing their utility without the need for new vehicle purchases. Mobec's smallest product is a 6-kilowatt charger for two-wheelers, while its largest can go up to 300 kilowatts for trucks.
The company is self-funded, having invested around a million USD in development, with plans to deploy more capital based on future business orders. Bajaj also mentions that Mobec is exploring hydrogen fuel cells as part of its long-term R&D efforts, although this remains a more advanced and challenging area for the company.
The main challenges Mobec faces include maintenance of the software and hardware. However, Bajaj is confident in their engineer's capabilities, with robust software support and after-sales service in place. The simplicity of the operation for drivers—akin to using an Uber or Ola app—ensures ease of use.