The Co-Founder of Bengaluru-based electric two-wheeler startup Simple Energy believes that while demand for EVs is strong across India, EV OEMs must aim to thrive independently without subsidies.
27 Dec 2024 | 3416 Views | By Prerna Lidhoo
Bengaluru-based e-mobility startup Simple Energy, which has been in the market with its Simple One and Simple Dot One electric scooters, is eyeing demand for e-two-wheelers from across the country. According to the company's Co-Founder, Shresth Mishra, "People are increasingly adopting electric two-wheelers, and the EV penetration in the 2W ...
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Bengaluru-based e-mobility startup Simple Energy, which has been in the market with its Simple One and Simple Dot One electric scooters, is eyeing demand for e-two-wheelers from across the country. According to the company's Co-Founder, Shresth Mishra, "People are increasingly adopting electric two-wheelers, and the EV penetration in the 2W segment has already crossed 4-5%, particularly within the last four years. So, there has been a 10-fold growth in the industry in the last four years."
"There is a huge demand coming not just from Tier-1 cities, but from Tier-2 and Tier-3 cities as well," he added. While government initiatives like the FAME schemes have provided a solid foundation to the industry, Mishra emphasises the need for businesses to thrive independently of subsidies. "At Simple Energy, we are working in that direction, and have already developed an in-house technology stack of motors, batteries, and software. This helps us gain control over not just quality, but cost as well," he says in this video.
However, despite significant progress in the last few years, the EV industry continues to be plagued by challenges such as lack of a robust charging infrastructure, interoperability, and range anxiety. Looking ahead, Mishra believes that the industry is poised to hit 20-30% penetration by 2030, with broad strategies around expanding product portfolios, reducing charging times, and addressing the issue of common charging standards that hinder interoperability.
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