[Exclusive Interview] This Indian EV Maker Has Enabled 60,000 Customers To Drive 1.2 Billion Kms Via Sustainable Energy

Recently, we interacted with Mr. Rohit Vadera, CEO, PURE EV, which is in the business of manufacturing electric scooters and motorcycles under the brand “PURE EV” and high-performance Lithium batteries under the brand “PURE Lithium”.

Here are the interview highlights:

Can you briefly introduce yourself and your background, and what inspired you to start the brand?

PURE EV is a leading Electric Two Wheeler (EV2W) manufacturer headquartered in Telangana, India. With a strong emphasis on Research and Development (R&D), the company boasts an impressive portfolio of over 100 Intellectual Property filings. Setting itself apart from competitors, PURE EV is one of the rare EV2W Original Equipment Manufacturers (OEMs) that fabricates their battery packs in-house, employing cutting-edge proprietary technologies.

Currently, PURE EV exclusively serves the Business-to-Consumer (B2C) market through a dedicated dealership model across India, extending its reach to Nepal and Bhutan through exports.

The company’s growth strategy is twofold. Firstly, it aims for an aggressive expansion of its dealership network, both domestically and in export markets. This entails broadening its presence in West, East, and North India, mirroring the success it has achieved in South India. Furthermore, PURE EV envisions reaching out to Africa, the Middle East, and other South Asian countries in the near future.

Secondly, PURE EV plans to drive incremental sales growth through its existing dealership network. Thanks to the company’s distinctive sales and after-sales experiences, it has achieved industry-leading vehicle sales per store among EV2W players. This success is anticipated to further improve in the years to come.

Under the banner of “PUR ENERGY,” the company’s name embodies its commitment to harnessing power from renewable sources. This mission began at IIT Hyderabad, where the organization concentrated on facilitating the transition to sustainable energy solutions. Notably, energy storage technology has been a focal area of expertise for the company. PURE EV has executed numerous hybrid solar storage projects for esteemed business groups, universities, hospitals, residential communities, NGOs, and schools. The company’s management team brings a wealth of experience from both academic and energy industry backgrounds.

PURE EV’s foray into electric two-wheeler manufacturing, under the brand “PURE EV,” has been complemented by the production of high-performance lithium batteries, marketed under the brand “PURE Lithium.” The company’s vision has been supported by the forward-thinking investment of Shri V C Nannapaneni, a luminary in the pharma industry. Currently operating from a steadfast 1,00,000 square foot manufacturing unit with an exclusive R&D center at IIT Hyderabad, the company is in the midst of an expansion endeavor, set to culminate in a 2,00,000 square foot facility. This expansion will confer an annual vehicle production capacity of 120,000 units and a battery production capacity of 0.5 GWh, poised for completion by the end of FY 24. With an unwavering focus on crafting products cherished by the mass consumer, PURE EV is steadfast in its mission to establish a trusted brand name in the EV and Energy Storage System (ESS) sectors.

What sets your brand apart from others in the industry? What is your unique selling proposition?

In the landscape of electric vehicle (EV) manufacturers, distinguishing oneself is paramount. PURE EV stands out through a unique set of principles:

Emphasis on Sustainability: We hold a steadfast commitment to eco-conscious practices in our manufacturing. Our belief is that EVs should be crafted with the least possible environmental impact. To this end, we exclusively employ recycled materials and adhere to sustainable manufacturing processes within our facilities.

Inclusivity and Affordability: We advocate for universal access to EVs, regardless of income brackets. This belief fuels our drive to engineer cars that are not only cutting-edge in technology, but also attainable and economical in maintenance. Our aim is to democratize electric mobility.

Elevated Customer Service: At PURE EV, we recognize that superior customer service is the bedrock of any successful EV enterprise. That’s why we’ve assembled a dedicated team of customer service representatives, ready and equipped to address any queries or concerns our customers may have. We understand that a positive ownership experience is pivotal.

These distinctive qualities combine to position us as a premier choice for those seeking an uncomplicated and accessible EV ownership experience.

Moreover, innovation is woven into the fabric of PURE. We maintain an unrelenting pursuit of fresh approaches to enhance our products. We firmly assert that innovation is the linchpin for the future of electric mobility, and we are resolutely committed to leading this charge.

While electric vehicles may entail a higher initial investment, chiefly due to battery costs, their operational expenses are markedly lower. Thus, it is the Total Cost of Ownership (TCO) that truly illuminates the economic comparison between traditional internal combustion engine (ICE) vehicles and EVs. Government incentives have significantly closed the upfront cost differential, and with the ongoing evolution of battery technology and localized manufacturing scale, we anticipate further reductions in initial expenses for prospective EV owners. This firmly establishes electric vehicles as a compelling, sustainable choice for the future of transportation.

How do you envision the future of electric vehicles in terms of market share and adoption?

The trajectory of electric vehicles (EVs) is poised for a promising ascent, solidifying their position as a driving force in the automotive industry. Forecasts indicate substantial growth and remarkable strides in the years ahead. This surge is attributed to a convergence of pivotal factors: a notable decline in battery costs, an expansive charging network, heightened regulatory standards on emissions, and an upsurge in consumer preference for eco-friendly transportation options. Moreover, technological breakthroughs, notably in battery efficiency and extended driving ranges, will bolster the allure of EVs. On the whole, the horizon for EVs is set to be defined by widespread adoption, continuous innovation, and a pivotal shift towards a more sustainable transportation paradigm.

Can you describe your brand’s mission and vision for a sustainable future?

At PURE, our core mission is to spearhead India’s transition towards electric vehicles by means of groundbreaking product development and the establishment of a reliable consumer brand. We hold a profound sense of responsibility towards both people and the planet.
Recently, we unveiled our inaugural Impact Report, providing a quantifiable testament to the positive influence PURE has had, ultimately contributing to a happier and healthier world. In a nutshell, our customer base surpasses 60,000 individuals, collectively covering a staggering distance of over 850 million kilometers. This translates to an average savings of INR 30,000 per customer, while concurrently curbing CO2 emissions by an impressive 33,000 tons.

We persistently endeavor to optimize our technologies, aiming for even greater environmental efficacy. Through tireless innovation and dedicated R&D initiatives, we’ve achieved a 20% reduction in lithium consumption per kilometer compared to our prominent counterparts in the EV2W manufacturing domain. This achievement holds paramount significance, especially in light of India’s ambitious goal to transition entirely from conventional ICE vehicles to 100% EV2Ws by 2030. Given that lithium is a finite resource, akin to oil, judicious and efficient utilization of this precious element is pivotal in ensuring the sustainability of the entire EV ecosystem within the country.

What are your thoughts on government regulations and incentives for EV adoption, and how do they impact your business?

The government’s unwavering dedication to nurturing the growth of the electric two-wheeler industry is commendable, as evidenced by the strategic measures implemented over the course of the year. These measures encompass pivotal advancements in Goods and Services Tax (GST) regulations, the introduction of the Faster Adoption and Manufacturing of Electric Vehicles (FAME) initiative, amendments in income tax provisions, custom duty revisions, and the institution of the Production Linked Incentive (PLI) scheme. These astutely devised actions have been instrumental in fortifying the industry and propelling its upward trajectory.

The approval of Phase II of the FAME Scheme, with a substantial budget of Rs. 10,000 Crore allocated over three years, stands as a testament to the government’s steadfast commitment to advancing the electric vehicle (EV) sector. This phase is primarily geared towards stimulating demand for xEVs, with a predominant 86% of the budget earmarked for the Demand Incentive component. Its objectives encompass supporting the adoption of 7000 e-Buses, 5 lakhs e-3 Wheelers, 55000 e-4 Wheeler Passenger Cars, and 10 lakhs EV-2 Wheelers. Additionally, the scheme provides incentives for pioneering battery technology and registered vehicles, with a primary focus on public transportation and commercially registered vehicles. The continued endorsement through the PLI Scheme has also been a substantial boon for EV two-wheeler manufacturers.

Initially, the government extended subsidies to incentivize and catalyse the expansion of the electric vehicle (EV) industry. However, the current landscape paints a picture of significant progress towards stability, marked by the establishment of a resilient EV ecosystem. This signifies a mature and strategic approach taken by the government, positioning the EV industry as a self-reliant and self-sustaining sector. The industry’s evolution and the establishment of a self-sufficient EV ecosystem underscore the efficacy of the government’s forward-thinking initiatives and its steadfast commitment to nurturing a thriving and autonomous EV sector.

For PURE, operating independently from FAME subsidies has motivated us to construct a sustainable business model founded on prudent practices. Our expansion endeavors are being met through a combination of internal accruals and a measured amount of debt. Looking ahead, we envision a capital-raising strategy that strikes a balance between debt and equity, ensuring alignment with our ambitious expansion plans across diverse geographies.

How do you plan to ensure that your EVs remain competitive with traditional internal combustion engine vehicles in terms of performance, affordability, and convenience?

At PURE, our purpose is to expedite India’s transition to electric vehicles through groundbreaking product innovation and the establishment of a trusted consumer brand. Our dedication extends not only to the welfare of individuals but also to the well-being of our planet.

Recently, we unveiled our inaugural Impact Report, a testament to the tangible difference PURE has made, resulting in a happier and healthier global community. In a nutshell, our community now boasts over 60,000 patrons who have collectively covered an astounding distance of over 850 million kilometers. This equates to an average saving of INR 30,000 per customer, coupled with a noteworthy reduction in CO2 emissions by 33,000 tons.

We persistently pursue advancements in our technologies, striving for even greater environmental efficiency. Through unceasing innovation and our unwavering commitment to research and development, we’ve achieved a 20% reduction in lithium consumption per kilometer compared to our prominent peers in EV2W manufacturing. This milestone holds paramount importance, especially given India’s ambitious goal of transitioning entirely from conventional ICE vehicles to 100% EV2Ws by 2030. Recognizing lithium as a finite and import-dependent resource akin to oil, judicious and efficient utilization of this precious element is imperative in ensuring the long-term sustainability of the entire EV ecosystem within the country.

Finally, what message would you like to convey to consumers and the broader public about the benefits and future potential of electric vehicles?

Electric vehicles represent a monumental shift towards a cleaner, more sustainable transportation ecosystem. They not only significantly reduce emissions, helping combat climate change, but also improve air quality, making our cities healthier and more livable. By choosing electric vehicles, you are contributing to a cleaner, greener planet for generations to come.

The future potential of electric vehicles is boundless. Technological advancements are accelerating at an unprecedented pace, promising even more efficient batteries, faster charging, and extended ranges. This means that EVs will become even more accessible, convenient, and affordable for everyone.

Furthermore, the electrification of transportation is a key catalyst in reshaping our energy landscape. By integrating renewable energy sources with EV charging infrastructure, we are on the path to a truly sustainable, decentralised energy system. This not only reduces our dependence on fossil fuels but also creates new opportunities for innovation and economic growth.

In choosing electric vehicles, you’re not just making a purchase; you’re making a statement about the world you want to live in. Together, we are pioneering a future where mobility is not only efficient but also environmentally responsible. We invite you to join us on this transformative journey, as we collectively shape a brighter, cleaner, and more sustainable world for all. Thank you for your support, and let’s continue to drive change together.