Coimbatore-based electric mobility company Konwert India Motors Pvt. Ltd. has raised pre-Series A funding from The Chennai Angels (TCA) to expand its electric vehicle retrofit business, which enables auto-rickshaw drivers to convert their existing petrol, CNG and LPG vehicles into electric three-wheelers.
The funding round also saw participation from existing investors, including Campus Angels Network, Keiretsu Forum Chennai and Native Angel Network. The company plans to utilise the fresh capital to strengthen its sales operations, expand its product portfolio and enter new markets across India and international locations.
Founded in 2019 by Nickendra Manikandan, Konwert India Motors is focused on making electric mobility more affordable and accessible for commercial vehicle operators. Instead of requiring drivers to purchase an entirely new electric auto-rickshaw, the company offers an electric retrofit solution that allows them to retain their existing vehicles while switching to electric power.
Electric Retrofit Offers a Cost-Effective Alternative
The high upfront cost of purchasing a new electric three-wheeler remains a significant challenge for many auto-rickshaw drivers in India. Konwert aims to address this issue through its retrofit technology, which reportedly costs approximately 50% less than buying a new electric auto-rickshaw.
The company’s patented conversion process can transform an existing petrol, CNG or LPG-powered auto-rickshaw into an electric vehicle in approximately 90 minutes. This approach also helps extend the operational life of existing vehicles while reducing dependence on conventional fuels.
According to the company, its electric retrofit solution can deliver a driving range of up to 213 kilometres with a 10 kWh battery pack. This range is designed to support the daily operating requirements of commercial auto-rickshaw drivers.
Monthly Fuel Savings of Up to ₹15,000
One of the major advantages of Konwert’s electric conversion technology is its potential to reduce operating expenses for auto-rickshaw drivers.
The company estimates that drivers can save approximately ₹12,000 to ₹15,000 every month on fuel expenses after converting their vehicles to electric power. These savings represent nearly 25% of a typical driver’s monthly income, potentially improving take-home earnings and making commercial transportation more financially sustainable.
To support wider adoption, Konwert has established service accessibility through approximately 800 myTVS touchpoints across India. The company has also partnered with four lending institutions to provide financing options for vehicle conversions, helping drivers manage the initial investment.
Funding to Support Expansion and Product Development
With fresh investment from The Chennai Angels and continued support from existing investors, Konwert plans to accelerate its business expansion and strengthen its presence in India’s growing electric mobility market.
The company currently operates in India and Sri Lanka and is also developing electric retrofit solutions for light commercial vehicles. Expanding into additional vehicle categories could create new opportunities in the commercial electric mobility segment.
Nickendra Manikandan, Founder of Konwert India Motors, said the investment would help the company reach more cities, introduce additional vehicle conversion options and expand into new markets.
Deepak Reddy, Lead Investor at The Chennai Angels, highlighted the company’s potential to contribute to India’s energy independence by making existing commercial vehicles cleaner and more economical to operate.
Supporting India’s Electric Three-Wheeler Transition
India’s electric mobility transition requires solutions that address both new vehicle adoption and the electrification of existing vehicles. Retrofit technologies offer an alternative pathway by reducing the cost of switching from internal combustion engines to electric power.
Konwert India’s approach could benefit auto-rickshaw drivers who want to reduce fuel expenses without purchasing a completely new vehicle. Its combination of affordable conversions, financing support and an established servicing network could help address some of the practical barriers to electric three-wheeler adoption.
With fresh funding and plans to expand its operations, Konwert India Motors aims to strengthen its position in the electric retrofit market while contributing to India’s broader transition towards cleaner commercial transportation.
