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Stakeholder collaboration will help enable EV transition

November 4, 2020 5:11 pm

Stakeholder collaboration will help enable EV transition

Trusted partner to leading e-commerce and logistics players, Etrio offers a wide range of EVs for every segment of the society from managing intra-city logistics. Deepak MV, Co-founder and CEO, Etrio believes that the stakeholders and the government should unite to form a solid roadmap for growth.

Recent performance of India’s EV sector
India is at a critical juncture right now with rapid transformation in the infrastructure to support electric vehicles (EVs). In turn the EV battery market is also at an important stage where change in EV policies will work as a catalyst in sales. It is estimated that if the policies are encouraged in nature then the worth of the EV battery market would be something around US$ 300 billion by 2030 in India.

Future of the Indian EV sector in 2021
The advancements in the field of battery technology have also facilitated faster adoption of electric mobility in recent years. The pandemic too has changed the dynamics of the industry. After the lockdown, the consumers are likely to be more inclined towards using personal vehicles for the commute as the new normal now includes optimum hygiene and social distancing. This could be an opportunity to be leveraged by the EV segment. And for that, the stakeholders and the government should unite to form a solid roadmap for growth. The merit of EVs is immense which is highlighted by the fact that like us, few others also raised funding during the pandemic. To sum up, collaboration among key stakeholders will help enable the EV transition.

Recent breakthrough policy decision that will drive EV industry growth
In order to bring down prices and increase adoption, the Indian government has taken an important decision to promote the use of EVs in the country. Vehicles that don’t come pre-fitted with batteries will be allowed to register. We believe that the decision is very encouraging as in the present system 40 percent of the costs of EVs are of their batteries. This will result in a rapid decrease in the costing of EVs in India and in turn the companies can focus on developing new cost efficient models.

What will drive Etrio’s growth beyond 2020
The primary factors which will drive our growth post this year are:
• Increase in volume and battery price reduction leading to overall product price decrease for the end consumer.
• Product market feedback leading to improved product version and increase in product portfolio.
• Increased geographical penetration combined with additional state wise EV incentives and policies.
• Key vendor partnerships to establish unique value proposition.

How Etrio is turning the tide in its favor despite challenges
Over the last 3 years, Etrio pioneered the EV conversion space by becoming India’s first certified retrofitment company aimed at reducing carbon footprint in the country. Trusted partner to leading e-commerce and logistics players, Etrio offers a wide range of EVs for every segment of the society from managing intra-city logistics through retrofitting Tata Ace (eLCV) and new electric three-wheels to easing lives of delivery executives through electric bicycles (Ashva). The company is slowly transforming lives by giving unmatched warranty, reducing the running cost by an extra Rs. 4 for every km and decarbonising the environment by retrofitting existing diesel vehicles and building new vehicles. Etrio is the third company after Tata and Mahindra to be ARAI certified and the first to have ICAT certified electric light commercial vehicles plying on roads. Bolstering and electrifying intra-city logistics, they have completed 50,000 km for their clients making 10,000 deliveries during this pandemic. Our customers include LetsTransport, Amazon, Flipkart etc.

Our newly launched 3-wheelers are catering to the cargo segment, will be focused on intra-city logistics especially in last-mile delivery applications. Stepping into the electric bikes segment, Etrio will also introduce them for both – cargo and passenger segments.

The merit of EVs is immense … collaboration among key stakeholders will help enable the EV transition.
Deepak MV, Co-founder & CEO, Etrio

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