Chennai, Apr 8 (FN Agency) India is poised to be the largest market for two-wheelers in the world with current revenue estimates of US USD 14bn and growing (Morgan Stanley research – Electric two-wheelers are coming, startups could accelerate E2W adoption). Despite the government support, electric two-wheelers (E2W) adoption remains low due to higher EV capital cost, range anxiety, limited charging infrastructure and lack of suitable models.
Chennai based start-up Aventose Energy plans to address the key issues faced by consumers through its products. Their vision is to exponentially increase the adoption of electric mobility and has an ambitious target of capturing five per cent of the overall Indian two-wheeler market by 2026. Aventose E2Ws are rugged, multi-utility, multiage and unisex vehicles, suitable for customers from urban and rural markets. “Developed after the comprehensive voice of the customer (VOC), Aventose vehicles strike the right balance between performance, features needed by the users and the price they are willing to pay for it,” Aventose Founder & CEO Vilas Tank said. “Our core team with global experience in market research, R&D, manufacturing, marketing, sales and service was able to deliver this balance,” he added.
Their vehicles have a swappable battery and an efficient drive train that will help alleviate range anxiety. Strategic partnerships with top automotive component manufacturers of India for their tried and tested solutions have enabled the startup to offer a durable product with minimal spare parts/service issues. Aventose vehicles design language offers elegant styling and riding ergonomics to the customers. The Startup is targeting the 100-125 CC market segment which amounts to 90 per cent of the Indian two-wheeler market. They intend to export to Europe, APAC and South American markets starting 2022.
Their patent-pending modular platform helps achieve economies of scale right from the start of production. With the modular platform, Aventose plans to launch an E2W scooter in June 2021, a premium scooter E2W in September 2021 and a motorcycle E2W by December 2021. The target price for the first scooter will be INR 85,000 with a target range of 100 km. Passenger and cargo E3Ws will be launched in 2022. Aventose energy was incorporated in May 2019 and completed its first prototype in early 2020. They are currently testing their second prototype and raising pre-series funds to set up a 25,000 per annum manufacturing capacity. This story is provided by BusinessWire India.