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Category: Auto & Electric Mobility

  • Auto industry bosses upbeat as custom duty off on lithium, cobalt

    New Delhi: The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.

    Finance Minister Nirmala Sitharaman while presenting the Budget, proposed to fully exempt customs duties on 25 critical minerals and reduce Basic Customs Duty (BCD) on two of them. “This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors,” she noted. Minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics, Sitharaman stated. Auto industry body SIAM President Vinod Aggarwal said the exemption of customs duty on import of lithium, cobalt and other rare minerals and extension of concessional customs duty on Li-Ion cells till March 2026 and withdrawal of equalisation levy of 2 per cent on e-transactions is expected to propel the growth of the Indian auto industry.

    “The Indian automobile industry welcomes the continued emphasis on economic growth with several announcements, especially the strong fiscal support for infrastructure in the next five years,” Aggarwal stated. Liberal allocation for rural development and infrastructure of Rs 2.66 lakh crore is a welcome step that will boost the rural economy, he added.

    SIAM also welcomes several proposals in the Budget such as measures for skilling and upskilling and support to manufacturing and employment generation and support to MSMEs, many of whom form the large supplier base for the auto sector, Aggarwal said. Auto component body ACMA President Shradha Suri Marwah stated that the reduction in customs duty on critical minerals will encourage cell manufacturing in the country and add to the evolving EV ecosystem in the country.

    Deloitte India Partner Rajat Mahajan said the move is likely to encourage few players to indigenise battery production in India. He, however, noted that the Budget has been silent on direct benefits to the automotive sector. “The industry was not expecting a lot but was definitely looking for some announcements with respect to FAME III subsidies, and other direct benefits for EV/ NEV (New Electric Vehicle). We may have to wait to see if there are any further relaxations in the future by the FM or by the GST Council,” Mahajan said.

    BatX Energies Co-Founder & CEO Utkarsh Singh said the reduction of BCD and exemption of 25 essential minerals from custom charges is set to lower production costs for battery manufacturing and recycling, enhancing the affordability and accessibility of electric vehicles in India. The strategic move will significantly impact India’s EV market by lowering production costs and enhancing competitiveness, he added.

    Hero MotoCorp Executive Chairman Pawan Munjal said the Budget positions India as a technology-driven and knowledge-driven economy, reaffirming commitment to sustainable development.

    Ashok Leyland Executive Chairman Dheeraj Hinduja said reduction in duties on rare earth minerals will help in promoting sustainable mobility.

    Mercedes-Benz India MD & CEO Santosh Iyer said the Budget clearly underlines the government’s priorities on creating a robust foundation for a developed Indian economy.

  • Enhancing India’s EV charging infrastructure • EVreporter

    India’s EV market saw remarkable growth in 2023, with sales exceeding 1.5 million vehicles – a 50% rise from the previous year. This brought the total number of EVs on Indian roads to approximately 2.8 million. However, infrastructure development lags, with about 135 EVs per public charging station, far above the ideal ratio of 6 to 20. This gap presents a critical opportunity for innovative EV charging solutions and sustainable energy integration. Addressing India’s cultural, linguistic, and geographical diversity requires robust and adaptable EV solutions.

    Understanding Regional Diversity in India

    India’s geographic and climatic variations – from arid deserts to humid coasts, dense urban centers to remote rural areas -significantly influence the design and implementation of EV charging infrastructure. Each region’s unique characteristics, such as power grid reliability, climate conditions, and user behaviours, must be considered to ensure effective and sustainable EV charging solutions.

    The 3Is of Smart EV Charging

    To address the unique challenges of India’s regional diversity, EV charging infrastructure must be Intelligent, Interoperable & Interconnected, and Integrated.

    1. Intelligent:

    • Smart Algorithms: Advanced algorithms and data analysis optimize charging schedules, manage power loads, and ensure efficient energy usage. These systems can predict peak usage times and adjust charging rates to prevent grid overloads.
    • Data-Driven Decisions: Utilizing real-time data, these systems can make informed decisions about when and where to allocate power, maximizing efficiency and minimizing costs.

    2. Interoperable-Interconnected:

    • Connectivity Across Platforms: EV charging systems should seamlessly connect with various charging stations, energy management systems, and EV models, facilitating real-time data exchange and operational visibility. This interconnectedness helps in overcoming operational challenges and ensures smooth functionality across different networks, providing users with a seamless charging experience.
    • Open Charge Point Protocol (OCPP): Adopting OCPP allows charging stations and central systems from different vendors to communicate, enhancing flexibility and reducing dependency on single suppliers.
    • Open Charge Point Interface (OCPI): Implementing OCPI enables real-time information exchange between charging point operators and service providers, improving user experience through better access to charging station data.

    3. Integrated:

    • Smart Grid & V2G: Smart grids play a crucial role in managing the variability of power supply and demand across different regions, ensuring stable and efficient power distribution for EV charging stations. Additionally, V2G technology enables EVs to discharge excess energy back to the grid during peak demand periods, supporting grid stability and earning revenue for EV owners. This bidirectional flow of electricity enhances the grid’s resilience and optimizes energy use, creating a dynamic system that benefits both EV users and the overall energy infrastructure.
    • Renewable Energy Integration: Solar and wind power can be harnessed to provide clean energy for EV charging stations. Solar panels can be installed in regions with high solar insolation, while coastal and high-altitude regions can benefit from wind energy.
    • Smart Batteries and Home Energy Management: Integrating EV charging systems with smart batteries and home energy management systems creates a holistic energy ecosystem. These solutions can store excess energy during low-demand periods and release it during peak times, optimizing energy usage and reducing strain on the grid.

    Smart Grid Technologies for Regional Adaptation

    Smart grid technologies enable real-time monitoring and dynamic adjustments to the grid, ensuring stable and efficient power distribution for EV charging stations.

    • Adaptive Load Management: Smart grids balance the load by distributing power efficiently, preventing grid overloads in high-demand areas while ensuring adequate supply in regions with fluctuating power availability.
    • Predictive Analytics: Utilizing data on regional power consumption patterns and weather conditions, predictive analytics optimize charging schedules and station placements, enhancing the reliability and efficiency of the charging network.

    Designing Climate-Resilient Infrastructure

    Given India’s diverse climates, EV charging stations must be designed to withstand varying environmental conditions.

    • Durable Materials and Construction: Charging stations should be built using materials that can endure extreme temperatures, humidity, and weather events, ensuring longevity and reliability.
    • Localized Customization: Tailoring the design and technology of charging stations to regional climates, such as incorporating cooling systems in hot areas or corrosion-resistant materials in coastal regions, enhances their resilience.

    User-Friendly and Multilingual Interfaces

    To cater to India’s multilingual population, EV charging stations should feature user-friendly interfaces that support multiple languages and regional dialects.

    • Multilingual Displays and Instructions: Providing information in local languages enhances accessibility and usability, ensuring a seamless charging experience.
    • Voice-Activated Systems: Implementing voice-activated systems in various languages simplifies the interaction with charging stations, especially for non-tech-savvy users.

    Community and Policy Engagement

    Engaging local communities and policymakers is essential to develop customized EV charging solutions that meet regional needs.

    • Community-Driven Projects: Involving local stakeholders in the planning and implementation of charging infrastructure ensures that the solutions are aligned with regional requirements and preferences.
    • Flexible Regulatory Frameworks: Developing adaptable policies that consider regional diversity facilitates the deployment of tailored EV charging infrastructure and encourages innovation.

    India’s regional diversity presents both challenges and opportunities for the growth of EV charging infrastructure. By leveraging smart grid technologies, integrating renewable energy sources, designing climate-resilient infrastructure, and incorporating user-friendly interfaces, India can create a robust and adaptable EV charging network. The 3Is—Intelligent, Interoperable & Interconnected, and Integrated—are essential for developing effective EV charging solutions that cater to the country’s unique and diverse landscape. Engaging local communities and policymakers ensures these solutions are sustainable, supporting India’s transition to electric mobility while accommodating its unique and diverse landscape.

    Authored by:

    Puneet Aggarwal, Head- Smart Mobility and Sustainable IoT

    Jio Platforms Limited

    This article was first published in EVreporter Jul 2024 magazine.

    Also read: List of top EV charging solution providers in India

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  • onsemi Selected to Power Volkswagen Group’s Next-Generation EVs

    Hyderabad: announced today it has signed a multi-year deal with Volkswagen Group to be the primary supplier of a complete power box solution as part of its next-generation traction inverter for its Scalable Systems Platform (SSP). The solution features silicon carbide-based technologies in an integrated module that can scale across all power levels – from high power to low power traction inverters to be compatible for all vehicle categories.

    “By offering a complete power system solution that encompasses the entire power sub-assembly, we provide Volkswagen Group with a single, simplified modular and scalable platform that maximizes efficiency and performance for their vehicle lineup,” said Hassane El-Khoury, president and CEO of onsemi. “This new approach allows for the customization of power needs and the addition of features for different vehicles without compromising on performance, all while reducing cost.”

    Based on the EliteSiC M3e MOSFETs, onsemi’s unique power box solution can handle more power in a smaller package which significantly reduces energy losses. The inclusion of three integrated half-bridge modules mounted on a cooling channel will further improve system efficiency by ensuring heat is effectively managed from the semiconductor to the coolant encasement. This leads to better performance, improved heat control, and increased efficiency, allowing EVs to drive further on a single charge. By using this integrated solution, Volkswagen Group will be able to easily transition to future EliteSiC-based platforms and remain at the forefront of EV innovation.

    “We are very pleased to have onsemi as a strategic supplier for the power box of the traction inverter for our first tranche in the SSP platform. onsemi has convinced us with a deeply verticalized supply chain from the growth of the raw material up to the assembly of the power box,” said Mr. Dirk Große-Loheide, Member of the Extended Executive Committee Group Procurement and Member of the Board Volkswagen Brand for “Procurement.”

    Mr. Till von Bothmer, Senior Vice President VW Group Procurement for Powertrain, added, “On top of the verticalization, onsemi has furthermore provided a resilient supply concept with regional silicon carbide fabs across Asia, Europe and the U.S. In addition, onsemi will continuously provide the latest SiC generation to ensure competitiveness.”

    Volkswagen Group will also benefit from onsemi’s planned investment to expand its silicon carbide manufacturing in the Czech Republic. The investment would establish an end-to-end production facility in Europe for the traction inverter power system. The proximity of onsemi’s facility would fortify Volkswagen Group’s supply chain while improving logistics and allowing for faster integration into the manufacturing process.

  • Opportunities and possibilities • EVreporter

    A Software-Defined Vehicle manages its operations, adds functionality, and enables new features primarily or entirely through software. Software-defined vehicles support capabilities that go beyond the process employed at a manufacturer’s production line. These capabilities can be fine-tuned or upgraded with an over-the-air update.

    With software-defined vehicles, the hardware can remain fixed throughout the product’s lifecycle and also compete with new and upcoming versions with just an update to the software. Global brands like Tesla, Kia and more are leading this exciting transformation in the automotive industry where updates are not just limited to the dashboards but apply throughout vehicle electronics, writes Akhil Gupta, CEO and Founder of Delhi-based Mazout Electric.

    Below are some features of software-defined vehicles and the problems they solve for manufacturers and users.

    Over-the-air (OTA) updates – Vehicles can prolong their efficient usability by means of over-the-air (OTA) software updates, just like we do with our smartphones.

    Through OTA updates, manufacturers can tweak various parameters to enhance the performance of the vehicle, such as battery management systems, motor control algorithms, and energy efficiency protocols, directly to the vehicles without the need for physical intervention. For instance, charging parameters can be fine-tuned to optimize charging time and extend battery life. Or the vehicle’s performance can be adjusted with respect to the reduced battery life and/or wear and tear of the motor with use.

    Advancing technology and government regulations towards standardization has often led manufacturers being asked to implement certain changes to their protocols and parameters with immediate effect, which has led to halts on assembly lines. In most cases, this can be resolved via updates to the software layer, in SDVs and flashed across the products in the assembly line.

    In another instance, a vehicle manufacturer might identify a potential software bug affecting a specific model’s temperature estimation accuracy, let’s say. Instead of initiating a costly and time consuming recall, they can quickly rectify the issue through a targeted OTA update, ensuring all affected vehicles benefit from the fix instantly. It will also allow the manufacturers to scale the
    diagnostics and repair services across cities without having to install dedicated service centers, which consumes time and is cost intensive.

    Furthermore, OTA updates enable manufacturers to introduce exciting new features and enhancements. Consider EV fleets used for ride-sharing or delivery services that initially offered a basic infotainment system. With OTA updates, the manufacturer can introduce advanced safety features or navigation improvements, enhancing the ease of doing last-mile delivery.

    People’s needs evolve and they are always on the lookout for more innovation and advancements. SDV would enable just that.

    Hardware ownership would give data control and ownership to the manufacturers. With SDV, huge amounts of data will be created that can be analyzed to generate various insights, which would be crucial while providing the OTA updates. Sensor fusion and hardware-less sensor techniques will be the data mines generating crucial data.

    Developers can integrate different sensors and/or actuators and write application codes to flash new features to all existing vehicles via software OTA updates. For example, a developer could integrate a camera into the controller unit, download the libraries to sync with hardware, and write custom app logic, say, for adaptive cruise control. This software can then be used by vehicles that have a camera simply by updating their vehicle like they update their smartphone.

    Doing this with open-source and collaborative ecosystems would drive standardization and reduce development costs. The software would allow manufacturers to differentiate their brand with respect to the features they offer and in the manner in which they offer them to the end users.

    Complimenting the above features, scope for additional revenue via software services for the vehicle manufacturers is created. Value added services and application ecosystem will enable specific features which can be enabled with subscription by end users.

    What exactly enables a vehicle to be software-defined?

    • Operating system: An embedded real-time Operating system is key to laying the foundation for a software-defined vehicle.
    • Firmware, separated from hardware: A firmware capable of updating itself over time and independent of the hardware controlling it or the actual sensors it controls, enabling a change in libraries to facilitate any combination of sensors and microprocessors.
    • Sensors: A host of sensors to collect the data. With improved features, the sensors might output the same type of data, but the function can be enhanced to deliver more functionality as the software is improved without the need for hardware upgrades.
    • Cybersecurity: The increasing level of connectivity makes the software-defined vehicle an ever-greater target for cyberattacks. Homegrown solutions for cybersecurity would be the key. Recently, Biden called for blocking internet-connected Chinese EVs, citing that they posed risks to national security because their operating systems could send sensitive information to Beijing.

    Conclusion

    The era of advanced automotive software and electronics is upon us. As the software-defined vehicle becomes reality, companies throughout the automotive industry must act swiftly and strategically to harness its potential.

    Mazout Electric is building turnkey powertrain electronics solutions for electric vehicles on software-defined architecture. The author can be reached at akhil@mazoutelectric.com

    Also read: Automotive software can improve customer experience beyond just diagnostics

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  • Commercial vehicle sales surge amid rapid urbanisation, economic growth in India

    New Delhi, July 20: Driven by friendly government policies, rapid urbanisation and economic growth, sales volumes of commercial vehicles (CV) have nearly recovered to the pre-Covid times, according to Girish Wagh, Executive Director of Tata Motors.

    Wagh, Chairman of CII-ICVC (Indian Commercial Vehicle Conclave) emphasised the transformative juncture at which India’s CV industry stands.

    At a recent event in the national capital, he highlighted that India’s urban population is expected to reach 600 million by 2031, driving increased demand for CVs in sectors such as construction, logistics and public transportation.

    Projected GDP growth of 6-7 per cent and initiatives like ‘Make in India’ are further boosting demand for both heavy and light CVs.

    Wagh hailed the National Logistics Policy and the PM Gati Shakti initiative, as these will lay down a framework for a significant reduction in logistics costs.

    According to Nishant Arya, Vice Chairman and Managing Director, JBM Group, the global transportation sector accounts for approximately 24 per cent of direct CO2 emissions from fuel combustion and, therefore, “it becomes our shared responsibility to address this serious concern by use of technology, transition to alternate and green fuels.”

    According to the Federation of Automobile Dealers Associations (FADA), the retail sales of automobiles in the country registered a 9 per cent growth in the April-June quarter in FY25, compared to the same period last year.

    Commercial vehicle retail sales witnessed a marginal increase at 2,46,513 units as against 2,44,834 units in the same period last year.

    “Commercial vehicle segment experienced a slowdown due to the elections and a pause in infrastructure projects. In April, elections dampened sentiment, causing delays in expansion plans,” said FADA president Manish Raj Singhania.

  • Mercedes-Benz expands BEV lineup | Reports best H1 sales in India • EVreporter

    Mercedes-Benz introduced two new BEVs in India: the EQA 250+ and the EQB 350 5-seater. These models aim to expand Mercedes-Benz’s BEV portfolio. Targeted at young individuals and families, these BEVs support the company’s EV roadmap for the Indian market, which includes six BEV models by the end of 2024, covering various customer needs. Mercedes-Benz India is also enhancing its charging infrastructure across its Franchise Partner network, with DC Fast and Ultra-Fast Chargers (60 kW and 180 kW), and complimentary AC wall box chargers for customers.

    Sales Performance:

    Mercedes-Benz recorded its highest-ever H1 sales in India with 9,262 units, a 9% increase compared to H1 2023. SUV sales represented 55% of total sales, with a significant demand for the TEV segment, which comprised 25% of total sales. The Maybach portfolio grew by 108% in H1 2024. The BEV portfolio grew by 60%, making up 5% of total sales volumes.

    Product features:

    The EQA 250+ and EQB 350 4M are targeted at young customers seeking practical, intuitive BEVs. The EQA 250+ is equipped with features like a high-resolution head-up display, Burmester® Surround Sound System with Dolby Atmos and 12 speakers, augmented reality navigation, and MBUX Interior Assistant with gesture control. They also include THERMOTRONIC® dual-zone automatic climate control, PARKTRONIC® Parking Package with a 360° camera, and remote services through Mercedes Me Connect. Safety features comprise seven airbags, blind spot assist, active brake assist, and the PRE-SAFE® safety system. Both models feature 19” AMG alloy wheels.

    Pricing:

    • EQA 250+: INR 66 lakhs (all-India ex-showroom).
    • EQB 350 (5-seater): INR 77.5 lakhs (all India ex-showroom).
    • EQB 250+ (7-seater): INR 70.90 lakhs (all India ex-showroom). Bookings open for Jan 2025 deliveries.

    Financial Solutions:

    Mercedes-Benz Financial Services offers a financial solution with a 20% down payment for a 4-year tenure, resulting in an approximate EMI of ₹68,000 and a buy-back guarantee of 67% for the EQA 250+.

    Technical Specifications:

    The EQA 250+ and EQB 250+ share similar dimensions and a 70.5 kWh battery, with WLTP ranges of 497-560 km and 464-535 km, respectively. The EQB 350 4M features a 66.5 kWh battery with a range of 397-447 km. The EQA 250+ and EQB 250+ have 140 kW power output and 385 Nm torque, while the EQB 350 4M has 215 kW and 520 Nm. Acceleration from 0-100 km/h is 8.6 seconds for the EQA 250+, 8.9 seconds for the EQB 250+, and 6.2 seconds for the EQB 350 4M. All models reach a top speed of 160 km/h. AC charging times are 7 hours 15 minutes for the EQA 250+ and EQB 250+, and 6 hours 45 minutes for the EQB 350 4M. DC charging times are 35 minutes for the EQA 250+ and EQB 250+, and 32 minutes for the EQB 350 4M.

    Santosh Iyer, Managing Director & CEO, Mercedes-Benz India, stated, “Mercedes-Benz remains the most desirable luxury brand in the Indian market owing to continued customer trust in our products and services. With some of the most awaited products lined up for the upcoming festive season, we expect the remaining quarters to continue the forecasted growth. Customers are increasingly adopting sustainable lifestyles, reflected in their choice of vehicles. With the EQA and EQB, we target young customers desiring sporty, dynamic, highly intuitive BEVs. Our BEV roadmap for India is ambitious, comprising the most versatile BEV portfolio, starting from the EQA up to the upcoming EQS Maybach SUV, by end of the year.”

    Also read: Mercedes-Benz launches luxury EV EQS 580 4MATIC in India at INR 1.55 crores

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  • Thunder Plus and Oyika sign MOU to expand EV operations in Southeast Asia • EVreporter

    Thunder Plus, an electric vehicle (EV) charging company based in India, has signed a Memorandum of Understanding (MOU) with Oyika, a battery swapping company headquartered in Singapore, to expand their operations in Southeast Asia.

    As part of this agreement, Thunder Plus will introduce its range of charging products, including two-wheeler and three-wheeler fast chargers, in Southeast Asia. These products will be integrated into Oyika’s battery swapping stations across the region.

    As part of this partnership, Raj Kumar, Director of Thunder Plus, presented the company’s flagship product, the Thunder Lite, a 3.3 KW AC universal charger capable of charging various vehicles (from 2 wheeler to 4 wheeler) and converting any wall or pole into an electric charging station.

    The partnership aims to strengthen Thunder Plus’s export market and establish a presence in the EV markets of Indonesia, Thailand, Malaysia, Cambodia, and Singapore. Both companies will exchange technological expertise and leverage each other’s business networks to promote the adoption of electric vehicles in Southeast Asia.

    “We are thrilled to collaborate with Oyika to bring our state-of-the-art charging solutions to Southeast Asia,” said Rajeev YSR, CEO – Thunder Plus. “This partnership not only enhances convenience for EV users but also aligns with our commitment to promoting sustainable transportation solutions globally.”

    Also read: List of top EV charging solution providers in India

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  • Greaves Electric Mobility lowers Eltra City E3W price • EVreporter

    Greaves Electric Mobility, through its 3W subsidiary, has announced that its electric 3-wheeler passenger vehicle, Greaves Eltra City, is now available at INR 3,66,999. The vehicle aims to meet the growing demand for electric mobility solutions.

    The Eltra City offers a range of approximately 160 kilometres on a single charge, powered by a 10.8 kWh lithium-ion battery and a 9.6 kW motor. It includes features such as 14-degree gradability, 49 Nm torque, and hill hold assist. The vehicle is also equipped with a 6.2″ digital instrument cluster with IoT capabilities. It has a full metal body and comes with a 3-year warranty, extendable to 5 years.

    Vijaya Kumar, Director, Greaves Electric Mobility 3W (GEM 3 W), GEMPL, said, “GEMPL is committed to revolutionise urban transportation by making sustainable and efficient mobility solutions accessible to everyone. The Eltra City E3W passenger vehicle is a testament to our dedication to affordability and excellence. With its best-in-class features, exceptional range, and innovative technology, the Eltra City is poised to redefine the commuting experience for both passengers and drivers. We are excited to witness the positive impact this will have on urban mobility and look forward to continuing our journey towards a greener future.”

    Greaves Cotton Ltd., with a history of over 163 years, supports GEMPL, which aims to improve e-rickshaw ownership by enhancing customer experience and providing comprehensive after-sales support.

    Also read: Abdul Latif Jameel commits USD 220 million investment into Greaves Electric Mobility

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  • MG Motor to Introduce Five New Cars in Next 12 Months

    MG Motor, backed by new funds and a local JV partner, will launch five new products in India within the next 12 months.

    The first, an electric CUV, will debut in September or October 2024. Three products will target the mass market, and two will cater to the premium segment.

    Rajeev Chaba, chairman emeritus of MG Motor India, announced that five new products have been approved by the JV for launch within the next year.

    The first, a feature-rich CUV with SUV capabilities, will launch during the festive period.

    Partnering with the JSW Group, MG Motor plans to increase its production capacity from 100,000 to 300,000 units in the next three to five years.

    Rajeev Chaba also said that they are establishing a second plant in Halol, Gujarat, to support this growth. The JV, ‘JSW MG Motor India Pvt Ltd,’ was finalised in March by JSW Group and China’s SAIC Motor, involving an investment of ₹5,000 crore.

    Despite market fatigue, Chaba is optimistic, as he projected PV sales growth of 7-8% this year, driven by festivals and new launches. He also forecasts EV sales to reach 120,000 units this year, up from 90,000 last year.

    Chaba called for incentives for strong plug-in hybrids and an updated tax structure for PVs, reflecting environmental impact and localisation levels.

    He warned of high inventory levels at dealer showrooms, with MG’s dealer inventory at 35-40 days, compared to the industry average of 60-65 days.

  • MyPickup secures INR 1.5 Crore in seed round • EVreporter

    MyPickup, an urban transit services provider based in Bangalore and an IPV Ideaschool startup, has secured INR 1.5 Crore in a Seed Round led by Inflection Point Ventures. This investment is part of IPV’s initiative to support early-stage ideas with significant potential for innovation and impact. IPV Ideaschool provides startups with funding, mentorship, and resources to develop viable products. The raised funds will be used for developing scheduling algorithms, brand building, and optimizing operations management.

    MyPickup is a subscription-based electric auto-rickshaw service designed for daily commutes, catering to office-goers, school children, and more. Its mission is to provide zero cancellations and zero surge pricing. The company aims to address urban congestion and pollution in major cities, promoting a cleaner and more efficient transportation system. MyPickup plans to scale by introducing on-demand rides using fleet operators and various vehicle classes while maintaining control over drivers and vehicles through standard operating procedures and training programs.

    Ankur Mittal, Co- Founder, Inflection Point Ventures says, “Urban cities in India share challenges like pollution, high commuting costs, frequent cancellations, and expensive transportation for school children. Recognizing these issues, MyPickup offers solutions with real-time tracking for parents, EV vehicles to combat pollution, and zero-cancellation and zero-surge pricing policies. They also plan to develop an automated matching algorithm, install safety features like cameras and SOS systems, offer on-demand services through ONDC platforms, and release an exclusive app for drivers. These initiatives build trust and position MyPickup as a promising startup addressing urban problems.”

    As of May 2024, MyPickup operates a fleet of seven electric autos, serving 45 customers. The company has achieved a monthly run rate of INR 1.5 lakh, facilitating 800 rides per month with a minimal marketing budget, as stated in the company statement. It aims to scale by increasing the fleet size and efficiency per vehicle to penetrate large societies and apartment complexes within a few micro-markets in a city for office and school rides.

    Abhijeet Dattatraya Jagtap, Founder & CEO, MyPickup, says, “As city-dwellers in India face mounting stress from congestion and pollution, MyPickup is dedicated to alleviating these challenges. By offering shared, reliable, and electric commute solutions for officegoers and school children, we are committed to scaling our impact in reducing urban congestion and emissions. Our mission is to provide sustainable mobility options that not only improve daily commutes but also contribute to a cleaner and healthier environment for all.”

    The Indian commute market, encompassing both school and office segments, currently stands at USD 7.7 billion and is projected to grow at a rate of 13% year-over-year. Assuming this consistent growth, the market size is estimated to reach approximately USD 14 billion. MyPickup is positioned to meet this evolving demands of the sustainable mobility market. Inflection Point Ventures (IPV) has announced the launch of a USD 50 million CAT 2 AIF, Physis Capital, to invest in pre-Series A to Series B growth-stage startups.

    Also read: SIDBI grants INR 12.45 crores to ETO Motors to deploy 300 e-3Ws and charging infra

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