How was 2023 for Batt:RE?

How was 2023 for Batt:RE?

All India EV: How was 2023 for your business? What milestone has your business achieved this year?

Batt:RE: The company sold its first scooter in July 2019 and has since built a network of over 400 dealerships in more than 21 states across India. Today, in 2023, just four years after its inception, Batt:RE has achieved sales of over 50,000 units. The thrust and intent of the startup have always been to contribute to a sustainable urban transport ecosystem. To this end, the company’s electric scooters have so far achieved a net monthly reduction of 6.4 lakh kgs of CO2 emissions, resulting in a saving of Rs 4.8 crore in monthly fuel costs alone. Batt:RE is a proud ‘Make in India’ organization that is tech-rich and intensely innovative. To date, it has received 20 patents for its Electric Scooter and the upcoming motorcycle.

All India EV: How do you see the next 3–4 years of your business? Are you planning to venture into new segments in the industry?

Batt:RE: The year just past, 2022-23, was a breakout year for both of us as a company committed to innovation and consumer delight and for India’s EV market, especially the two-wheeler segment, which roared past expectations. For the period 2024–2028, the Indian electric vehicle (EV) market is poised for substantial growth, propelled by several key factors: Firstly, favourable policies enacted by the government, such as FAME II, PLI schemes, and reduced GST rates, are expected to provide a significant boost to the adoption of EVs. Secondly, a surge in demand is anticipated due to factors like escalating fuel prices, heightened environmental awareness, and increased affordability of EVs for both consumers and businesses. Thirdly, ongoing technological advancements, particularly in battery technology, charging infrastructure, and overall vehicle performance, are set to enhance the attractiveness of EVs. Moreover, a substantial influx of investment from global investors and Indian companies into the EV ecosystem is accelerating the development and production of electric vehicles.

Market projections by experts indicate a remarkable 68 percent CAGR in EV sales, reaching 9.1 million units by 2027 and potentially surpassing 17 million units by 2030. However, despite this positive outlook, challenges persist, including infrastructure gaps, battery costs, and the need for increased consumer awareness.

Our organization maintains a steadfast commitment to the core principles upon which Batt:RE was conceptualized and incubated, emphasizing sustainable performance. The technologies developed by Batt:RE not only contribute to environmental conservation but also enhance the overall riding experience. Presently, the startup is reshaping the commuting landscape by facilitating a seamless integration of technology and mobility solutions. This results in the provision of affordable, aspirational, futuristically minimal, and confidently connected urban scooters.

All India EV: Would you like to highlight some areas where the government can improve that can help the Indian EV market?

Batt:RE In supporting the Indian electric vehicle (EV) market, the government has demonstrated commendable efforts. To further bolster this positive trajectory, an emphasis on a steadfast, enduring policy framework encompassing manufacturing, research and development (R&D), and charging infrastructure is recommended. It is noteworthy that the government has the potential to enhance its ongoing successes by fostering collaborative efforts among stakeholders and investing in skill development initiatives. Additionally, a good step forward could involve giving due importance to environmental sustainability. Encouraging recycling practices and responsible disposal through incentives would contribute significantly. In the realm of consumer engagement, the government has an opportunity to drive adoption by implementing awareness campaigns and additional incentives.

To maintain the upward momentum, incorporating policy flexibility is sure to work wonders. Regular reviews, guided by industry feedback and global trends, would ensure a responsive and adaptive environment for the EV sector.

All India EV: We would like you to highlight the individuals or teams of your organization that you felt gave more than 100% this year to the organization, including any extraordinary acts performed by any of your employees.

Batt:RE: At Batt:RE, we are incredibly fortunate to have a dedicated and talented team. We believe that every member of our organization contributes their best efforts, making it challenging to single out specific individuals or teams. Our success is truly a collective effort. We value the hard work and commitment demonstrated by each team member, and we strive to foster an environment where everyone feels recognized for their contributions.