Name of the Company: Twenty Two Motors
Launch date: August 2016
Founding team: Parveen Kharb (CEO), Farhaan Shabbir (President), and Vijay Chandrawat (COO)
Funding Raised in 2017: $1.6 million
Overall Funding Raised Since Starting Up: $1.6 million
Strength of the company: 20
Industry it operates in: Electric Vehicle
The movement towards making electric vehicles (EVs) mainstream received a great push by Elon Musk; however, there still remains a long stretch for EVs to cross before they become ubiquitous on Indian roads. The momentum has gathered speed in the recent years, but there are several speed bumps in front of EVs before they can overtake the petrol and diesel variants as the preferred modes of transport.
The Government of India envisages an all electric car fleet by 2030 and wants the sale of petrol and diesel cars to stop by then. Even before this announcement, there are already several big corporates as well as startups that are working hard to resolve the problems keeping the EV market in a stranglehold.
However, there is one startup which claims to be quietly working on resolving the trifecta of issues – pricing, charging infrastructure, and driving range.
Comprising a team of engineers with extensive working experience in the motor industry, Twenty Two Motors started developing its electric scooter in August 2016.
“High running cost of gasoline vehicles and significant pollution led us to enter the segment. The two-wheeler industry has not seen any innovation in a long time and for many, new technologies are too expensive to afford. We decided to make this segment easy to afford, both in terms of acquisition and running cost, by developing the latest technological product indigenously,” says co-founder and CEO, Parveen Kharb.
Making it cheap
Twenty Two Motors is planning to reveal its first prototype before Diwali this year. The big launch is scheduled for the Auto Expo early next year, which is when the company is expected to release the final price for its electric scooter. Kharb reveals that this price though will be competitive with the available diesel and petrol scooters. Another domestic EV startup, Ather Energy, is said to have kept its price between Rs 80,000-Rs 1,00,000. A petrol run scooter is priced at Rs 50,000 and above.
Credit By : The Economics Times
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