Hyderabad headquartered electric vehicle startup E-trio on Tuesday launched a retrofitted electric light commercial vehicle (eLCV).
The company claims eLCV, with a range of 120 km, is the country’s first such vehicle. It comes with a lithium-ion battery of 20 kilowatt-hours (KWH) on a high voltage 96 volt (V) system, according to a statement. The initiative will transform intra-city logistics space, E-trio said.
The vehicle features a telematics app E-trio Track that offers critical health metrics at a vehicle and component level. It also has safety features including geo-fencing, remote immobilisation and delivers data-driven insights.
Founded in 2017 by Deepak MV, E-trio is an electric vehicle company. The e-LCV’s minimum on-road price in Delhi is marked at Rs.7.75 lakhs. E-trio has claimed that it received orders for over 1200 eLCVs prior to the launch.
“Our scientific retrofitment process revives the earning of the driver owner by saving almost 60% of the operational expenses and makes diesel guzzling LCV into a green productive vehicle. This will not only reshape the ecommerce logistics space but also have a deeper impact on the EV ecosystem. We have already received interest of over 1200 eLCV as we speak,” Deepak, who is the CEO of the company, said.
The startup claims to produce 5,000 vehicles annually with the help of its 30,000 sq ft manufacturing facility in Hyderabad, the statement added.
According to the company, retrofitment has extended the lives of over two million Tata Aces’ in India. The process reportedly involves a 150-point checklist for selection of vehicles, followed by stripping of the internal combustion engine, addition of new parts and finally a quality inspection process.
“With our data-driven approach and usage of telematics, we aim to be the leading EV player for intra-city logistics with superior product and capabilities,” Deepak added.
The revenue potential of electric vehicles (EV) in India is estimated to be about $6.7 billion by 2025, according to a recent report by financial services firm Avendus Capital.
EV segment in the country, although at a nascent stage, has garnered interest in recent months.
In February, Mumbai-based power utility company Tata Power said it planned to raise the number of its electric vehicle (EV) charging stations to 700 by next year.
In January, the Internet and Mobile Association of India (IAMAI) startup foundation launched a Challengathon and invited applications from startups that solve the segment’s problems. Around the same time, Amazon India announced that it would include 10,000 EVs (electric vehicles) to its fleet of delivery vehicles in the country by 2025.