How newcomer River plans to fill a gap in India's competitive EV two-wheeler market by providing easy accessibility to all.

                    

How newcomer River plans to fill a gap in India's competitive EV two-wheeler market by providing easy accessibility to all.

Two-wheelers have long been a cornerstone of life in India - their small size and affordability make these traditionally gas and diesel-powered vehicles an easy means of navigating the traffic-jammed roads of the country's most populous cities. Huh.

Now, a new startup called River has come out of stealth with an electric two-wheeler scooter — and the accompanying subscription services — designed to appeal to modern consumers looking for an affordable, yet stylish, vehicle. which can be used for work, play and everything in between.

River, founded in late 2020 by Arvind Mani and Vipin George with $2 million backed by Maniv Mobility and TrucksVC, has grown to 42 people in its short life. Its small and growing team, which draws from companies such as Ather, Arai, Bosch, Honda, UltraViolet and Vespa, has developed a prototype vehicle that will be introduced to consumers later this year.

Both the founders also have experience in two wheeler transportation. Mani, an engineer who once worked in the petrochemical industry before moving to electrified transportation, was vice president of business strategy at Ultraviolette before most recently moving to build the river. George worked at Honda R&D in India for eight years, including as head designer, and most recently was the design lead at UltraViolet.

The pair wanted to make a two-wheeler strong enough to be used as a tool for work or any other task, while keeping the performance and style useful and fun for all other hours of the day.

“The truck culture in the United States will parallel; if you are a carpenter or shop owner you have a truck, which you use to move goods and it is also your primary means of commuting,” Mani "We don't have anything like this on the two-wheeler space in India, and that's what we want to build."

At the same time, Mani added that the vehicle should also have personality because "in India it is still a status buy that you want to show off to your friends; it is the first symbol that you have come across in the lives of many two-wheeler owners." "

What they brought is a "multi-utility" two-wheeled electric scooter codenamed RX-1 available in several battery pack sizes that can travel between 100 km (62 mi) and 180 km (112 mi). can. charge.

The vehicle can accelerate from zero to 40 kilometers per hour (25 mph) in 4 seconds and has a top speed of 80 km per hour (50 mph). And because its main focus is as a multi-utility vehicle, it has a payload of 200 kilograms, enough to carry a package for one rider.

The price, which depends on the battery pack, ranges between INR 80,000 ($1,070) and INR 100,000 ($1,337).

River's launch comes at a fruitful but highly competitive moment in India.

India's government, keen to accelerate the adoption of electric vehicles in an effort to move away from polluting gas and diesel-powered vehicles, has increased subsidies for indigenously-made electric two-wheelers. India's Department of Heavy Industry now offers incentives that provide 15,000 rupees ($200) per kilowatt-hour. The subsidy limit has also been doubled to 40% of the cost of the vehicle.

E-commerce and delivery companies including Flipkart, Swiggy and Zomato are also trying to electrify the fleet. Zomato plans to have an EV-fleet only by the end of the decade. Startup Swiggy announced in August that it would cover 800,000 kilometers (497,000 miles) every day via electric vehicles by 2025. In February, Walmart-owned Flipkart said it would deploy more than 25,000 electric vehicles across its supply chain by 2030.

“Around 60% to 70% of the country is self-employed and two-wheelers are a basic part of Indian livelihood,” co-founder Arvind Mani said in an interview. Million Fleet Delivery Riders in India today. “COVID has really accelerated this trend, and on-demand services continue to grow.”

These opportunities have launched hundreds of EV startups. According to March 2021 research notes by Sanford C. Bernstein & Co, there are over 470 EV companies registered in India.

"The gold rush to seize this emerging opportunity has begun," said Venugopal Gare, managing director and senior analyst, in the report. "Some will be acquired, many will be liquidated, some will remain low-end niche OEMs, but we think some will grow materially."

River is going up against larger and better-funded competitors such as Ola Electric, Bounce and Ather Energy, as well as dozens of smaller organizations. But River's co-founders are opposed to their new vehicle and the business model fills a gap in the market.

River plans to sell directly to consumers and offer a suite of subscription services and a range of accessories that let owners customize and dismantle their scooters as their needs change throughout the day.

In Hindi Article:- https://akbnews01.blogspot.com/2021/10/blog-post_491.html