Revolt Intellicorp Pvt. Ltd.. an independent electric vehicle (EV) venture by Micromax’s co-founder, Rahul Sharma, is all set to launch India’s first artificial intelligence (AI) -enabled electric motorcycle in India in June.
The upcoming AI-enabled bike can be connected to LTE (a 4G mobile communications standard) and for same it will carry a 4G Sim. The motor and batteries of the bike will be imported. However, the BMS (Battery Management System) and the ECU (Electronic Control Unit) is an in-house design. This motorcycle has a top speed offer a range of 156.8 km on a full charge. The futuristic bike will also have a battery swap system — a system in which empty batteries can be swapped with charged ones.
Headquartered in Gurgaon, Revolt has set up a manufacturing facility in Manesar, Haryana, which is spread over 1 lakh square feet and has a production capacity of 1.20 lakh units commissioned for Phase 1 (FY 2019-20).
In a media statement, Rahul Sharma, founder, Revolt Intellicorp Pvt. Ltd., said, “As a mechanical engineer by qualification, I always found mobility and the expanse of opportunity it offers, very intriguing. There is a colossal need for using technology to disrupt urban commute and make it cleaner and sustainable. I am doing my bit and I feel this is the right time for every player operating in this space to come together for the greater good of our environment. My vision is to see every household in India have access to sustainable mobility.”
The electric motorcycle will initially be made available in Delhi-NCR and can be purchased both online and offline.
Sharma added that Revolt’s primary point of consideration while working on its products is the modern consumers’ dislike for compromises. He also said that the company is working on the concept of making intelligent vehicles that don’t make any concessions on neither the form factor nor the performance of ICE (internal combustion engine) vehicles. The company, in fact, aims to completely replace them.
The Indian electric car market size was valued at $71.1 million in 2017 and is projected to reach $707.4 million by 2025, witnessing a CAGR of 34.5% during the forecast period. Government schemes and subsidies are playing a major role in the growth of the market. In addition, the growing environmental concerns owing to high pollution levels in major cities of the country are also positively affecting the market growth.
India is home to the world’s second-largest motorcycle market but the sales is limited to commuter bike riders that has sales figure of over 20 million two-wheelers sold in 2017-18. This, in turn, poses enormous threat to the country’s environment and at the same time offers substantial opportunity for entrepreneurs to join the EV business.
Last year in May, it was reported that the government is considering establishing of a venture capital (VC) fund of ₹500 crore in order to support startups related to electric vehicles (EV) in India. According to Start Up team of Invest India, there are about 136 startups related to electric vehicles in India — till April 2018.
According to a report, the Indian electric scooters and motorcycles market is projected to reach 757,900 units by 2025, registering a CAGR of 42.9% during the forecast period. The market has witnessed significant growth in the recent past owing to strict norms and regulations pertaining to environmental, government incentives, and rising environmental awareness.
In 2015, Indian government had started Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) scheme which provides incentives for purchasing electric vehicles.
Last month, the Union cabinet chaired by the Prime Minister Shri Narendra Modi had approved the proposal for implementation of Phase-2 of Electric Vehicle Scheme, FAME-II. Under the new policy, the government will spend Rs 10,000-crore ( ~ US$1.4 Billion) in order to offer car buyers in the country upfront incentives on purchase of electric vehicles. The package announced will also be used for setting up charging infrastructure and focussing on electrification of public transport.