New Delhi, November 1st, 2022: Vikas Gupta, Founder, and ex-CEO of Ghaziabad-based electric vehicle company e-Ashwa Automotive Pvt Ltd has announced the launch of another EV venture under the name Sampoorn EV Pvt Ltd.
Sampoorn EV will provide a complete (sampoorn) and holistic EV ecosystem platform to small local EV players who have good products but do not have the required infrastructure, mainly a retail network to market and sell their products beyond their local region. The company will assist small local EV companies to set up, create and build brands and products and all activities thereafter including purchase, sales, services, repair, maintenance, and support which will be part of the offerings by Sampoorn EV.
As part of creating a complete EV ecosystem, Sampoorn EV will set up multi-brand EV retail stores in different parts of the country in a phase manner to house EV products and accessories by different EV brands. Currently, the company does not plan to have its own Brand and Products. The tagline of Sampoorn EV is “A Brand Agnostic EV Ecosystem”.
Speaking on the launch of his new EV venture, Vikas Gupta, Founder, Sampoorn EV Pvt Ltd, said, “With favourable government policies and faster adoption of Electric Vehicles by the Auto sector, EV is certainly going to be the future of mobility. However, due to lack of better infrastructure, promising local level EV players having good & affordable products are unable to reach the large pool of customers in the country thereby restricting their growth. The idea behind launching Sampoorn EV is to bridge this very gap.”
Speaking further on this new initiative, Mr. Gupta said, “It is an effort towards keeping all the small local players in the EV segment alive as they are contributing silently towards economic development by generating huge employment as well as cleansing of the environment which otherwise gets polluted with fossil fuel based vehicles.”
It is estimated that more than 95% of the total EV players are in the category which is building on sales and distribution networks as compared to 5% players who are in the category of building technology, new design, and product engineering. Currently, the EV industry is in a growing phase with over 500 small local players. This scenario is going to change in the future with only 7-10 players remaining in the market post-consolidation. In order to address this and also provide a level playing field to EV companies having sound business models, Sampoorn EV plans to create a common ecosystem for small local players in the sales and distribution network category. This ecosystem support will be available to EV companies at a nominal fee that suits their budget so that equal opportunity for growth is available to all such small local EV players in the country.
Before setting up Sampoorn EV, Vikas Gupta founded e-Ashwa Automotive about 5 years ago and today it has become one of the fastest-growing affordable electric vehicle players in electric 2-Wheelers and 3-Wheleers segments.