e-Ashwa Automotive Founder launches Sampoorn EV
Published On Oct 26, 2022 04:07 PM
Aims to support local EV players in creating and building brands and products.
To enable faster adoption of electric vehicles for sustainable and efficient mobility solutions in India, to help and assist new players to develop a robust eco-system to make the country a top destination of production and sale powerhouse, Vikas Gupta, Founder and ex-CEO of Ghaziabad-based electric vehicle company e-Ashwa Automotive has announced the launch of another EV venture under the name Sampoorn EV.
Sampoorn EV will provide a complete (sampoorn) and holistic EV ecosystem platform to small local EV players who have good products but do not have the required infrastructure mainly a retail network to market and sell their products beyond their local region.
The company will assist small local EV companies set up the company, creating and building brands and products, and all activities thereafter including purchase, sales, services, repair, maintenance, and support which will be part of the offerings by Sampoorn EV.
As part of creating a complete EV ecosystem, Sampoorn EV will set up multi-brand EV retail stores in different parts of the country in a phased manner to house EV products and accessories by different EV brands. Currently, the company does not plan to have its own Brand and Products. The tagline of Sampoorn EV is A brand agnostic EV ecosystem.
Speaking on this new venture, Vikas Gupta, Founder, of Sampoorn EV said, “With favorable government policies and faster adoption of Electric Vehicles by the Auto sector, EV is certainly going to be the future of mobility. However, due to lack of better infrastructure, promising local level EV players having good & affordable products are unable to reach the large pool of customers in the country thereby restricting their growth. The idea behind launching Sampoorn EV is to bridge this very gap.”
It is estimated that more than 95% of the total EV players are in the category which is building on sales and distribution networks as compared to 5% of players who are in the category of building technology, new design, and product engineering. Currently, the EV industry is in a growing phase with over 500 small local players.
This scenario is going to change in the future with only 7-10 players remaining in the market post-consolidation. In order to address this and also provide a level playing field to EV companies having sound business models, Sampoorn EV plans to create a common ecosystem for small local players in the sales and distribution network category. This ecosystem support will be available to EV companies at a nominal fee that suits their budget so that equal opportunity for growth is available to all such small local EV players in the country.
Before setting up the Sampoorn EV, Vikas Gupta founded e-Ashwa Automotive about 5 years ago and today it has become one of the fastest-growing affordable electric vehicle players in the electric 2-Wheelers and 3-Wheelers segments.