We Aim To Be No. 1 In Next 18 Months, Says Founder & CEO Of Simple Energy
Excerpts from Suhas Rajkumar, Founder & CEO of Simple Energy
Q. How was Simple Energy born and what were you doing before that?
In 2018, I embarked on a quest to find a suitable electric two-wheeler for my family. Frustrated by the lack of value-for-money options in the market, I delved into extensive research on battery and charging technology for nine months. Shreshth Mishra, whom I met through mutual acquaintances and shared similar visions with, joined hands with me and together we launched our entrepreneurial journey in January 2019 with the establishment of Simple Energy. Prior to this venture, I had worked on leading four previous startups spanning robotics, design, among other domains, which gave me a wealth of knowledge and experience.
Q. What is the brand strategy to take a leap ahead of the established players in the E2W market?
At Simple Energy, our strategy has been to design and manufacture quality products in India, for Indians. We aim to stand out in the market with our premium and value for money products, offering the best in terms of performance, technology, and range to our customers. Our manufacturing process is entirely in-house and vertically integrated. In order to reach out to a wider customer base, we are working actively to set up our dealership presence with 50 to 100 dealerships across major cities. We will also focus on the after-sale service and connect with customers to provide an experience that they will remember. Additionally, we will also ramp up our production capacities so we can be No. 1 in the next 18 months.
Q. Could you elaborate on the journey of Simple One? What were the challenges from making a pilot to the final product?
From its initial stages as a pilot project to its eventual transformation into a finalised product, the path was laden with both technical and external challenges that needed to be overcome. One of the foremost challenges was convincing people that range anxiety, a concern commonly associated with electric vehicles, could be effectively managed. Adding to the complexity of the journey was the unexpected outbreak of the global pandemic. The pandemic introduced unprecedented disruptions across industries, including automotive manufacturing. It led to supply chain shortages, logistical challenges, and changed market dynamics. Despite these hurdles, the team at Simple Energy persevered and adapted to the changing circumstances.
The journey itself encapsulates the company's growth and development. Beginning in a humble 150-square-foot garage, the project showcased the initial vision and dedication of the team. Over time, this vision led to the establishment of a sprawling 1 lakh square feet R&D center in Bangalore, highlighting the remarkable progress made during the journey.
Q. How many bookings have you received for Simple One & what are the sales numbers?
We have received a tremendous response since we launched the Simple One. Currently, we have garnered over 1 lakh pre-bookings for the Simple One, which is an order book worth 1,200 crore. We have already commenced the deliveries of the Simple One in Bangalore in Phase I, and our main goal right now is to steady the sales operations. In the upcoming months, we intend to ramp up manufacturing and delivery capacities.
Q. The Government recently slashed the FAME 2.0 subsidy on E2Ws. Do you think this will stop people from buying electric two-wheelers?
The recent reduction in subsidies threatens to curtail access to environmentally responsible vehicles. The resulting higher costs may introduce significant obstacles for individuals eager to embrace greener commuting options. This hindrance could impede their capacity to actively participate in creating a more sustainable environment, potentially nudging them towards opting for conventional internal combustion engine (ICE) two-wheelers instead. Nevertheless, it is important to acknowledge that the government continues to work towards addressing these issues and supporting the growth of the EV industry.
We do believe that eventually the EV industry will be pushed to bring in a better proposition by producing a better spec or a lower variant so that consumers have various options to choose from at different price points.
Q. The government is considering a fresh FAME 3.0 subsidy for EVs. What do you expect out of it?
We expect it to offer enhanced incentives and support, further accelerating the adoption of EVs in the country. This could result in increased affordability for consumers and boost overall demand for electric two-wheelers. We hope that the new subsidy plan will focus on promoting indigenous manufacturing of EV components and vehicles, which will not only create more job opportunities but also strengthen India's position as a global EV hub.
Q. How is Simple Energy making a difference and trying to disrupt the electric two-wheeler segment?
The government has been encouraging the adoption of electric mobility options in the country, setting up a target of achieving 80 per cent of electric two and three-wheeler sales by 2030. In line with this vision, Simple Energy was established to redefine electric mobility in the country by making e-mobility solutions more accessible, accessible, secure, and comfortable to the end customer. To that end, our flagship product, the Simple One, is a testament to innovation with over 200 IP portfolios. It boasts of a number of firsts for an electric two-wheeler, such as the IDC-certified range of 212 kilometres, which makes it the longest-range electric scooter in India. We are also the first OEM in the country to receive certification for our EVs under AIS-156 Amendment III Phase 2.
