Players emerging in the most profitable business of all times in India

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Players emerging in the most profitable business of all times in India

Players emerging in the most profitable business of all times in India

• In the Indian electric vehicle ecosystem market analyzed by BIS Research, the EV market is anticipated to grow at a robust CAGR of 43.13% during the forecast period from 2019 to 2030. Additionally, the installation of charging infrastructure is projected to grow at a CAGR of 42.38%. With the entry of local battery manufacturers such as TATA Chemicals and BHEL alongside the import of batteries from global players, the electric vehicle battery market is expected to grow at a whopping CAGR of 60.15% during the forecast period.

• Ather Energy, a Bengaluru-based EV startup, develops and manufactures its e-scooters, offers charging infrastructure through its’ Ather Grid’, provides consumer services that include cloud software upgrades and has also come up with new ownership models such as subscription and leasing, which are proving to be popular ownership models to bring customers on board before they can convincingly adopt the latest technology.

• Yulu is a technology-driven startup, solving the problem of first and last-mile connectivity. Yulu Miracle is a smart, dockless e-bike that is designed for urban traffic conditions. Yulu has collaborated with Delhi Metro Rail Corporation (DMRC) to provide its services in and around metro stations in Delhi. Mumbai Metro Region Development Authority (MMRDA) has also signed an MoU with Yulu to provide e-bikes to Metro commuters at various metro stations in the city.

• Pune-based Tork Motors that hold more than 40 different IPs with respect to their technology, design, and trademarks will soon be offering new ownership models such as leasing options and are already setting up fast-charging infrastructure in Pune.

• DOT, a Gurugram based EV logistics startup, supplies EVs to major e-commerce and food-tech players such as Walmart, Amazon, Grofers, Blue Dart, DHL, Lenskart, Swiggy, and McDonald’s.

• Investments in Indian EV startups by corporate, venture capital, and private equity firms have seen a growth of 170% with a total of $376 mn being invested in 2019, as compared to $147 mn in 2018.

• Venture capital firm GrowX ventures have announced India’s first acceleration program for EV startups. The selected startups under the program will be offered various benefits such as mentorship from industry experts, seed investment led by GrowX ventures, and pilot opportunities from companies like Exide, TATA, and Swiggy, who are partners at the Huddle – GrowX EV accelerator.

 

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