Forestalling the business potential of EV in India, ETO Motors based in Hyderabad, electric mobility as a service company is gearing up to scale up its portfolio with a four-wheeler cargo carrier.
The company also owns vehicle models such as e-cars, e-rickshaws and 3-wheeled cargo vehicles that can carry a total load of 500Kg.
The new version is rumoured to bear a cumulative load of more than 900 kg in a single charge over a 250kms range. Further pushing the limits, a 1,25-1,5 ton variant is also being considered for the construction and mining sector after the successful adoption of the 900 kg. The company has invested a total sum worth INR 25 crore as an initial boost which would reach the INR 100 crore mark in just a few years.
ETO has currently categorized its vehicles based on sleep limit and ability, with its three-wheeler segment being divided into variants of above and below 25 km range. The company plans to run a cumulative fleet of 6,000 EV’s in India by the end of the next fiscal year.
According to Biju Mathews (CEO- ETO Motors), the company’s primary focus was to minimize CO2 emissions for a healthier world and originally, they only had plans for 2-3 wheelers. The EV market currently has a larger-than-anticipated demand and supply gap that can only be bridged by new entrants or existing players with a greater product range.
ETO has set up its own assembly units in Hyderabad to ease the production process, which has a total installed capacity of 6,000 electric vehicles per year and plans are underway to build manufacturing hubs across the nation to reduce logistics and production costs. The company also plans to supply vehicles and components for the rapid deployment and technology transfer facilities from overseas suppliers. Because of the concerted effort to build a local manufacturing environment, import reliance on a total of 300 individual components used in EV’s is reduced to just 15-20 components.
The price factor for E-cars is also restricted to about INR 3 to 3.20 Lakh, and e-rickshaws INR 1.2 Lakh. To curb the number of anxiety problems an EV is faced with, ETO provides end-to-end solutions for its EV, Fleet ranging from infrastructural assistance, on-the-go charging, maintenance and support facilities.