BattRE Electric Mobility differentiates itself from its competitors for its IoT connected electric scooter, which uses cloud-based GPRS to connect with a mobile app and store all vehicle-related data online. What was the innovation process for this feature and what were the challenges that you had to overcome?
A lot of consumers want to stay in control of their vehicle, its state of charge, etc which is applicable to both B2B and B2C consumers. This is when we realised that if we can create an IoT telematics solution in our scooter (which is technically possible), we can actually meet the needs of this segment. Thus, we got into partnerships with many companies that are working internationally in this space. As for the challenges, pricing was one, because India is a very price-sensitive market.
Your start-up has a clearly demarcated product line to cater to different segments – entry level, mid segment, IoT-connected and B2B products. In each segment, the products are positioned at a very favourable price-to-feature ratio. How does it benefit the customers?
We market any product on the price band to what the consumer expectation is for that particular price band and also what are the different alternatives that are available in that price band. For instance, the first scooter we launched was priced at ₹74,000 for the mid-segment. Plus, this product was loaded with all the features which are present in vehicles that are available at a price point above ₹1 lakh. This was the idea to give consumers a better price-to-feature ratio, without them having to pay a hefty price.
Your start-up raised an undisclosed amount of funding from Former Tata Motors’ President, Gajendra Chandel and used the funds for launching new models, increasing production capacity and scaling up the distribution and service network. How have you made the most of this benefit?
When we started off, we did so with only one model and only a few territories in South India. Once the funding came in, we started rolling out operations in other states in South India. We launched our second product in January this year called BattRe LOEV, with which we have started expanding our geographies in the Northern states.
Do you think it has been easy for start-ups to raise funds? What must start-ups do to raise funds, especially now, in the current COVID-19 pandemic?
It’s definitely very difficult for start-ups to raise funds. However, a start-up should remember not to be dependent only on the funds that it can raise. Also, by raising a sustainable business model, start-ups can look at getting a good funding.
What are your start-up’s short-term and long-term goals?
Our short-term goal is that by the end of FY 2022, we would want to have a PAN India presence. As for our long-term goal, we look at being among the top four electric vehicle companies in the country by 2025.