BW Auto World 40 Under 40 Winner: Ajit Patil - Emphasis On R&D
Ajit Patil quit a seven-figure multi-national company job and relocated to his home town Belagavi, to set up Rivot Motors to give back to society. He was able to identify gaps in the market and build companies accordingly which have turned profitable in no time. With this, he generated more than 50 jobs for the people who would have otherwise migrated to other cities.
Patil also set up FAAST, a speed fibre internet service when none was present in Belagavi. He also established Outofbox Cloud, a cloud service provider like AWS, Azure and GCP completely built and run from Belagavi city, which has already turned profitable. Currently, Patil is busy building an electric scooter with the longest range due to indigenously developed recoEngine which captures most of the energy back which is generally wasted during braking.
To date, there has been no external investment for any of the three companies. Patil also introduced methods of new product development which cost less and the turnaround time is one-third of the traditional methods. He is also instrumental in building an automotive engineering team of 15 in a Tier-2 city, consisting of designers, sculptures, clay modellers, computer-aided design (CAD), computer-aided manufacturing (CAM) engineers, electronic system design and manufacturing (ESDM), Software and AI team.
Rivot Motors is designing, developing and building ultra-long-range electric scooters. With a strong emphasis on research and development, the company and Patil are dedicated to designing and manufacturing state-of-the-art motor controllers, vehicle control units (VCUs), electronic control units (ECUs) and advanced regenerative braking systems.
