EVage, a not-so-well-known electric vehicle (EV) start-up, is all set to play a game-changing role in the last-mile delivery space with the roll out of its maiden one-tonne delivery van by the end of this year.
The EV maker is targeting e-commerce firms for its delivery vans as it seeks to meet the huge demand in the last-mile delivery market.
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| EVage electric delivery van. |
The Haryana-based company has claimed that it has spent close to seven years to develop, test and validate the electric vehicle.
Inderveer Singh, founder and chief executive officer (CEO), EVage, claimed that the EV firm will be the first one to launch an all-electric vehicle developed ground up.
“EVage is the only firm in India that has a four-wheel delivery van on the roads,” said Singh.
Singh added, “When we pioneered our highly adaptive and modular multi-vehicle platform in the year 2014, we were travelling into the unknown. Success of the new global OEMs (original equipment manufacturers) and their effect on electrifying transport in the US and Europe is something we can do in India as well as other price-sensitive countries.”
In January this year, EVage had mopped up $28 million in seed funding. It was led by US-based venture capital firm RedBlue Capital.
EVage is using the proceeds of the fund to construct a factory near Delhi, where it would make its first product that it has codenamed Model X.
The company’s upcoming plant will be a modular one and a miniature version of large-scale automobile plants.
EVage has claimed that it has finished with almost all the ground trials and will soon begin trial productions in the next few quarters. The company plans to commence commercial production by this year-end.
EVage is set to slug it out with the likes of commercial vehicle (CV) biggies such as Tata Motors, Ashok Leyland and Mahindra and Mahindra, among others.
These companies have been targeting this space, having announced mega product plans to tap into the segment. However, these firms are yet to roll out their vehicles.
EVage’s first prototype was ready in 2019 and the EV maker spent three and a half years testing it.
It has 5-10 vehicles running already (trial runs). Of this, more than two or three vehicles have crossed 100,000 km of testing and one has surpassed 250,000 km without any failure, according to Singh.
EVage has been in touch with e-commerce and fast-moving consumer goods (FMCG) companies as well as logistics firms to understand their requirements. It plans to design its products accordingly.
“For every two vehicles we are putting on the road, we are noticing a demand for 10,” Singh said.
Commenting on EVage’s move, Prescott Watson, who is general partner at RedBlue Capital, said, “The fact that major fleet customers are using such an innovative product today gives EVage a clear standout in its field. This firm’s team is actually delivering.”
Diesel CVs account for 30 per cent of oil consumption in India and EVs in this space will help reduce carbon emission substantially and also help cut down costs to a great extent.
If EVage becomes a game changer with the roll out of its maiden one-tonne delivery van, would it maintain its advantage in this space or will the big players step in to take away the thunder?
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