Under the guardianship of ex-CEO and founder of e-Ashwa Automotive, Vikas Gupta has introduced another EV venture under the name ‘Sampoorn EV’.
This new venture claims to provide a complete EV ecosystem platform to small and local EV players in India.
Sampoorn EV will provide a complete and holistic platform to 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 these companies set up, create and build brand and products and all activities thereafter including purchase, sales, services, repair, maintenance and support which will be part of the offerings, according to the press statement.
New multi-brand EV retail stores are planned in different parts of the country in a phase manner to house EV products and accessories by different EV brands.
Speaking on his new venture, Vikas Gupta said, “With favourable 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 and 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 an effort towards keeping all the small local players in the EV segment alive as they are contributing silently towards economic development by generating huge employment as well as cleansing of the environment which otherwise gets polluted with fossil fuel-based vehicles”, he added.
Sampoorn EV estimates that more than 95 percent of the EV players are in the category of building on sales and distribution network as compared to 5 percent players who are 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 scenario and 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, it claims.