Green Evolve (Grevol), the Delhi-based EV manufacturing start-up, intends to launch three separate electric vehicles by FY23, following the success of its maiden vehicle. These vehicles will include two electric three-wheelers in three- and six-seat configurations, as well as a 1.5 tonne electric LCV.
Jayant Gupta, CEO, Grevol, revealed to Mobility Outlook that the two e3Ws are currently in the approval stage and will be launched by the end of this quarter.
Based on the same platform as their L5 cargo vehicle, these new e3Ws will feature swappable battery technology and will be a one-to-one replacement for their ICE counterparts.
He went on to say that the three-seater vehicle would make a good substitute for a regular auto rickshaw and is ideal for intra-city transport. While on the other hand, the six-seater model is intended to transport people from the outskirts to the city and vice versa.
With these products, the company also intends to penetrate overseas markets such as South Asia and Africa. The company already has presence in South Africa, Kenya, Tanzania and Rwanda, owing to it background in the renewable energy space. “We will have our first pilot operations in Kenya in July this year,” the CEO said.
The 1.5 tonne e-LCV, meanwhile, is intended for launch by the end of the year or early next year. This e-LCV will also be based on the current platform, but with minor modifications. The product is currently in the design stage, and is expected to cost between INR 6-7 lakh.
Anticipating Higher Sales
Grevol launched its first product, a L5 e3W called Grevol Evaum in November last year. Featuring a 10 kW lithium-ion battery pack and 165 cu ft of cargo bay area, it comes with a maximum loading capacity of 750 kg, while the claimed range is 125 km.
The start-up claims to have received orders for 5,000 units for the Grevol Evaum from various B2B players. A total of 30 units have been delivered to customer since launch. The reason for the tardy start is the vehicle's late approval, which came in December 2021, said Gupta.
In addition to the confirmed orders, Gupta expects to sell a further 1,000 units of the e3W, taking total sales to around 6,000 units by the end of FY23.
Grevol has until now been dealing with B2B clients alone, but with the forthcoming e3W products – the three- and six-seat variants – it aims to target private players as well. For this, it plans to add near about 25 to 30 dealerships in the coming financial year.
“It will be a phased penetration, with the first phase in the Delhi NCR and northern region. Following that, we'll look at Rajasthan, Maharashtra, Gujarat, and other states,” Gupta confirmed.
Additionally, the company is also in talks with individuals from the bordering nations to set up dealerships. “We are already in discussions and have finalised our distributors for the neighbouring countries, Nepal and Bangladesh,” he further mentioned.
Increasing Production Capacity
To meet anticipated demand, the company is also planning production capacity ramp-up. At present, it operates two plants – one in Uttarakhand, where metal assembly and chassis fabrication takes place, and another in Okhla, New Delhi, where battery packs are manufactured and final vehicle assembly takes place. Collectively, Grevol is capable of manufacturing 100 units a month currently.
Gupta further confirmed that the company has boarded two new sub assemblers. Situated in Nashik, Maharashtra and Hosur, Karnataka, these factories are slated to be up and running from July and will function fully by the end of this calendar year. This should take its production capacity to 500 units per month from July onwards, and reach 1,000 units capacity as these plants get completely set up.
To fund these product and production plans, the company intends to raise $5 million by the end of this quarter. According to the CEO, majority of these funds will be utilised to make the manufacturing process less capital intensive and more technology driven.
“We are working on the technology to get the costing down so that we can scale up battery manufacturing extensively. Furthermore, these funds would be used for the development of necessary design tools, as well as for the final quality product, including quality check of despatch and arriving materials,” he mentioned.
The primary idea behind the initiative is to build a system, wherein material accuracy is ensured at each and every phase of production.
Gupta started off by converting a Tata Ace into an EV and building the battery technology in 2019. In the long run, Grevol aims to be a market leader in the electric mobility space. “We will definitely be optimistic to capture around 15 to 20% of this market space,” Gupta mentioned. To achieve this, it plans to set up new age technology based manufacturing, resulting in producing more reliable products.