Driving the Future: An Exclusive Interview with Mr. Sumit Aneja, MD of Speedways
How Speedways Electric, led by Sumit Aneja, is transforming the mobility landscape with its innovative and eco-friendly electric vehicles. Discover the story behind their success and their vision for a greener tomorrow.
All India EV: What motivated your organization to enter the electric vehicle (EV) industry and establish Speedway Electric as an EV venture?
Speedways: As the founder of Speedways Electric, my motivation to enter the electric vehicle (EV) industry and establish Speedways Electric as an EV venture stems from a deep commitment to excellence and a passionate dedication to providing eco-friendly mobility solutions. The journey began with a pivotal moment at the Auto Expo 2014, when Ratan Tata experienced the charm of an electric toy train, not knowing that I was the mastermind behind that electrifying encounter.
Fueled by my love for innovation and a desire to explore exciting ideas, I embarked on a mission to design and manufacture innovative EVs. Speedways Electric, my brainchild, has since brought to life a range of campus electric vehicles and road-ready electric vehicles, powered by both lead-acid and lithium batteries, offering impressive ranges.
My dedication to creating a greener tomorrow has led to the development of pioneering strategies for the widespread adoption of electric vehicles in India. Under my guidance, Speedways Electric has introduced numerous new models catering to diverse industries, making it the largest range of EVs in the country and one of the largest in Asia.
To further support this vision, I have spearheaded the design and development of a state-of-the-art green manufacturing facility in Jalandhar, Punjab. This facility ensures the production of unique and customized electric vehicles, reinforcing Speedways Electric’s position as a leader in the EV industry.
My journey in the electric vehicle industry is driven by a commitment to innovation, sustainability, and a vision for a greener and more environmentally conscious future. Speedways Electric stands as a testament to these ideals, offering a comprehensive range of electric vehicles that contribute to the transformation of the mobility landscape.
All India EV: What specific types of electric vehicles does Speedway Electric offer, and what sets them apart from traditional combustion engine vehicles?
Speedways: In India and internationally, Speedways Electric stands as a company with the largest range of electric vehicles, making us an unparalleled choice for sustainable transportation solutions. We are committed to driving the EV revolution forward; delivering exceptional products and services that transform the way people commute and contribute to a greener future.
Here are some of the top products by the house of Speedways Electric:
●Royale: Speedways Electric has developed Royale, a vintage-shaped Golf cart, for a unique and stylish golfing experience. This innovative design has been patented, showcasing our commitment to originality and distinctive product offerings.
● SET 1: Speedways Electric has designed SET 1, a small and cost-effective tugger for industries, capable of towing up to 1000 kg. This innovative solution provides an efficient and economical option for material handling needs in various industrial settings.
● Micro Bus: Speedways Electric has developed Micro Bus, one of the most affordable small buses available in the world. This 9- and 12-seater bus offers cost-effective transportation solutions, making it accessible to many users.
● eMigo: Speedways Electric has created eMigo, a small vehicle in the L6 category, catering to both passenger and commercial segments. This innovative vehicle offers efficient and sustainable transportation solutions, suitable for various urban mobility needs.
●Suspension Technology Collaboration: Speedways Electric has collaborated with a company from Ukraine to develop innovative suspension technology. This partnership has resulted in advancements in suspension systems, enhancing vehicle performance, comfort, and safety.
● Lightweight and Stronger Vehicles: Speedways Electric has focused on innovation in materials and technology to make vehicles lighter and stronger. This approach improves energy efficiency, extends battery range, and enhances overall vehicle performance.
● Electric Fire Truck: Speedways Electric, in collaboration with Avinash Fire Systems, has developed a cheaper electric fire truck that can be utilized by various industries. This innovative solution combines environmental sustainability with firefighting capabilities.
All India EV: Could you provide some details about the technology and engineering behind your EVs? What advancements or innovations have you incorporated into your vehicles?
Speedways: Our electric vehicles (EVs) represent a culmination of cutting-edge technology and innovative engineering, designed to provide efficient and sustainable mobility solutions. At the core of our EVs is a commitment to lightweight materials, which not only reduce the overall weight of the vehicle but also enhance its energy efficiency and range.
One of our key strengths lies in international collaborations for vehicle design. By partnering with experts from around the world, we infuse global best practices and the latest technological advancements into our EVs. This ensures that our vehicles meet not only domestic but also international standards of quality and safety.
To cater to diverse terrains, we have developed a dual-technology system that adapts seamlessly to both plain and hilly areas. This innovative feature optimizes the performance of our EVs, providing a versatile and reliable driving experience regardless of the landscape.
Customization is another hallmark of our vehicles. We understand that each customer has unique needs and preferences, so we offer a range of customizable options that allow users to tailor their EV to their specific requirements. Our commitment to structured technology extends to every aspect of our EVs, from their propulsion systems to onboard electronics. This ensures the reliability and longevity of our vehicles, setting new benchmarks for the EV industry.
Recognizing the challenging conditions of Indian roads and the environment, we have developed special technology for the body structure of our EVs. This technology is engineered to withstand the rigors of Indian roads while being environmentally conscious, promoting sustainability in our designs.
All India EV: In what ways does Speedway Electric contribute to the overall transition to sustainable transportation and reduced carbon emissions?
Speedways: Speedways Electric plays a pivotal role in driving the transition to sustainable transportation and the reduction of carbon emissions through several impactful initiatives. The company’s commitment to advancing electric vehicle (EV) infrastructure is a key component of this contribution.
Speedways Electric has been at the forefront of creating some of the most economically viable options for last-mile transportation in both passenger and utility vehicle applications, including buses, LSEVs, and small electric cars. To ensure the highest standards of quality and performance, Speedways Electric has made strategic investments in battery manufacturing for both lead-acid and lithium batteries. Through continuous innovation, we have pushed the boundaries of battery technology to provide superior products. In addition, our commitment to excellence extends to in-house tire manufacturing through our sister concern, Speedways Tyres.
The company takes pride in the fact that Speedways Electric is unmatched in its comprehensive approach to the EV industry. We have worked diligently to provide a 360-degree solution encompassing manufacturing, technology, battery innovation, and tire production. Our dedication to addressing the mobility needs of various sectors has positioned us as a true industry leader.
In India and internationally, Speedways Electric stands as a company with the largest range of electric vehicles, making us an unparalleled choice for sustainable transportation solutions. We are committed to driving the EV revolution forward, delivering exceptional products and services that transform the way people commute and contribute to a greener future.
All India EV: Kindly share your thoughts on EV component localization. According to you, what government support is still required for 100% localization?
Speedways: Electric vehicle (EV) component localization is crucial for achieving sustainability goals, reducing dependence on imported components, and fostering economic growth in the automotive sector. To achieve 100% localization, governments must provide targeted support across various dimensions. Firstly, financial incentives and subsidies can encourage domestic manufacturers to invest in research, development, and production of EV components. This can include tax breaks, grants, or low-interest loans to facilitate infrastructure development and technology adoption.
Secondly, robust regulatory frameworks that prioritize local sourcing in EV manufacturing can further stimulate localization efforts. Governments should collaborate with industry stakeholders to establish clear standards and certifications, fostering a competitive and reliable domestic supply chain. Additionally, investing in workforce development programs and educational initiatives focused on EV technology can address the skills gap and ensure a skilled workforce for component production.
Furthermore, creating a supportive ecosystem involves building charging infrastructure and implementing policies that promote EV adoption, driving demand for locally produced components. Governments should also engage in international collaborations to access global best practices and technological advancements, facilitating knowledge transfer.
Achieving 100% EV component localization requires a comprehensive approach, combining financial incentives, regulatory support, workforce development, and infrastructure investments. A strategic and collaborative effort between governments, industries, and educational institutions is essential for sustainable and competitive domestic EV manufacturing.
All India EV: What’s your definition of success? What piece of advice do you suggest for young entrepreneurs who are starting their careers in the EV industry and to college students?
Speedways: Success, to me, is the achievement of personal and professional goals, coupled with a sense of fulfilment. For young entrepreneurs entering the EV industry, my advice is to prioritize innovation, sustainability, and adaptability. Embrace emerging technologies, stay environmentally conscious, and be ready to evolve with industry trends. For college students, I recommend fostering a curious mindset, gaining diverse skills, and building a strong network. Education is vital, but real-world experience, mentorship, and a commitment to lifelong learning will pave the way for success in the dynamic and transformative field of electric vehicles.