Rahul Sharma invested between INR 400 Cr – INR 500 Cr in this new company
The proposed IA motorcycle will have a range of 156.8 km and a top speed of 85 km / h
The company will set up its own charging infrastructure
Image courtesy of: TeleAnalysis
Rahul Sharma, co-founder of Indian phone maker Micromax, has made a foray into the electric vehicle space. The Micromax veteran has started a new business called Revolt Intellicorp Pvt. Ltd, with plans to launch an artificial intelligence (AI) -based motorcycle.
Speaking about the new business, Sharma, who started the business with a personal investment of around 400-500 Cr INR, said: âMy vision is to see every household in India have access to sustainable mobility.
Based in Gurugram, Revolt Intellicorp strives to make personal mobility convenient, affordable and sustainable. The proposed IA motorcycle will have a range of 156.8 km and a top speed of 85 km / h. The motorcycle’s commercial launch is scheduled for June this year.
âWe work on the principle of making intelligent vehicles that do not compromise on the form factor and performance of ICE vehicles. To this we have added our technological prowess and our ambition is to replace them completely, âadded Sharma.
Revolt: providing a charging infrastructure
The company has a 100,000 square foot manufacturing facility in Manesar, Haryana. The facility has a production capacity of 120,000 vehicles which have been commissioned for phase 1.
Addressing the selected gathering at the company’s launch, Sharma said the company has focused on a few major aspects, including design language, performance, long-distance reach, and more. One of the coolest things here is that Revolt would build its own charging infrastructure as it starts rolling out its products.
Revolt also plans to have a disruptive go-to-market strategy where it will follow an offline as well as online model. They are also very focused on creating experience stores across cities so that customers can experience the touch and feel of the product.
The first phase of deployment will start from Delhi-NCR. The product now works on 4G LTE service and will require very minimum service, according to Sharma. With a team of automotive industry veterans, Sharma is aiming for double-digit market share in the automotive industry and simply not in the electric vehicle segment. Sharma also shared that the company has a host of products lined up for a launch in order to disrupt the segment.
Market potential for electric two-wheelers
India is the second largest motorcycle market in the world, with sales dominated by grassroots commuters. Over 20 million two-wheelers were sold to domestic customers in 2017-2018, making it the best-selling vehicle category in India. Rahul Sharma said he expects the electric vehicle market to change over the next three years.
This makes two-wheelers the most harmful to the environment, and as a result, there is huge leeway to make the segment cleaner and more sustainable, the company said in a press release.
Another automaker, Tork Motors has developed a customizable connected cloud electric motorcycle T6X, which should be launched soon. Tork’s motorcycle has a range of 100 km and will effectively cost INR 28 for a full charge at current electricity rates.
Recently, in March, the Indian government also launched the second phase of Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME), which provides subsidies for electric two-wheelers and public transport. The government has also broadened the list of concessions for electric vehicle manufacturers by reducing import duties on essential parts such as batteries and powertrains.
[The story was co-written by Bhumika Khatri and Yatti Soni.]