India on the Ivy League of Electric Mobility

On September 9, India joined the rest of the world in observing World EV Day. Electric vehicles (EV) have contributed to a global movement toward more environmentally friendly transportation. After a stop-start process, big manufacturers in India are now vying to make India a 100% electric vehicle nation in the following ten years, with local entrepreneurs so far playing a crucial role in the mission. A few key indicators for EV startups in India for the 2021­2022 period include increasing investor interest, an increase in the number of reservations or vehicles sold, and the adoption of new technology. Tracking this industry is important for the straightforward reason that it contributes more than 40 percent by value to India's manufacturing sector and close to 7 percent of its GDP.

The last three years' list includes fundraisers from Ola Electric, Ather Energy, Ultra violette, and Euler Motors. Bounce has expanded into the EV sector after first entering the market as a platform for renting scooters. For its entry into the EV manufacturing market in October 2021, the corporation paid $8­10 million for 22 Motors.

Scooters that are reasonably priced, reliable, and have a low TCO [total cost of ownership] are crucial to the nation's shift to EVs. Design thinking is crucial now because the majority of EVs have fixed batteries and millions of people who don't have access to parking or charging stations can't transition to EVs.

While 2022 is the year that EV startups receive the most funding, most of the most active investors, including Sequoia Capital, Tiger Global, Softbank, Matrix Partners, Accel, and Nexus Venture Partners, have steered clear of this market. That is partially owing to the fear that global (Chinese) corporations will eventually dominate the EV business, particularly in batteries, despite the fact that numerous Indian companies have proven this to be untrue. We'e here with such dynamic startups that have India on the map of EV industry.