Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?

I’m an automotive and EV professional with over 11 years of experience across Tata Motors, Bajaj Auto, Hero MotoCorp, and, more recently, with Euler Motors, where I’ve been closely involved in shaping product strategy, cost optimization, and corporate development.
Over the last few years, my work has increasingly focused on the electric mobility ecosystem — particularly on 3W cargo and fleet electrification, fundraising strategy, and investor relations. I combine operational depth with strategic and financial acumen to drive both business growth and capital efficiency.
Core Areas of Expertise
1.    EV Market Strategy Product Development
•    Deep understanding of India’s 2W, 3W, and 4W EV markets - from demand drivers, fleet adoption behaviour, and TCO economics to OEM-level technology transitions. Hands-on exposure to new product programs and platform development.
2.    Cost Optimization Supply Chain Management
•    Proven success in leading BOM cost reduction programs, leveraging in-house RCD, supplier collaboration, and localization initiatives.
•    Experience in scaling production while improving per-unit economics and supplier terms through value engineering and sourcing strategies.
3.    Corporate Development s Fundraise Execution
•    Actively contributed to equity fundraising (Series D and earlier rounds), working with global and domestic investors across growth and venture capital funds.
•    Supported investor presentations, business plan validations, financial modelling, and due diligence processes — both on the equity and debt side.
•    Experience coordinating with legal, financial, and technical advisors through due diligence cycles, including reviews of SHA, SSA, and compliance documentation.
•    Worked on debt structuring, including credit line discussions with NBFCs and banks for working capital and asset-backed financing.
4.    Investor Relations Strategic Partnerships
•    Managed ongoing communication with existing and potential investors — preparing board updates, financial performance summaries, and investor dashboards.
•    Built long-term relationships with key ecosystem stakeholders — from institutional financiers and leasing partners to technology collaborators.
•    Contributed to corporate positioning, valuation discussions, and strategic narrative building for investor materials and market engagement.
5.    Financial Operational Analytics
•    Skilled in linking operational KPIs (uptime, TCO, utilization, service cost) to business and financial metrics used in investor communication.

•    Adept at developing TCO and payback models for fleet customers and unit economics frameworks for internal decision-making and external diligence.
6.    Strategic Outlook on India’s EV Sector
•    Strong understanding of policy levers, state-level incentive frameworks, and how global entrants are influencing cost, product standards, and market dynamics.
•    A blend of hands-on operational experience and strategic foresight, allowing for data-backed insights into scale-up challenges and opportunities in India’s EV space.

Summary Strengths
•    Cross-functional expertise: from plant operations and RCD to investor relations and fundraising management.
•    Strategic-financial mindset: ability to translate operational progress into investor-ready narratives and financial metrics.
•    Execution-focused leadership: comfortable operating across product, finance, and partnership functions to drive capital-efficient growth.

Q2. How do you see digital platforms, telematics, and IoT-enabled fleet management influencing competitiveness in the EV industry?

1.    Availability, uptime, drive choice. For commercial EVs (3W/LCV/buses), the single biggest differentiator is vehicle availability for revenue work. Telematics and predictive maintenance increase uptime and reduce unexpected downtime, directly boosting fleet productivity and a fleet owner's willingness to electrify.
2.    Lower operational cost (not just energy). Intelligent charging, route optimization, and driver coaching reduce energy and maintenance per km; telematics makes those savings measurable and repeatable.
3.    New revenue streams services. OTA updates, subscription features, telemetry-based insurance (usage/behaviour), and battery-as-a-service (BaaS) are only possible with a robust platform.
4.    Frictionless fleet management scale. Scalable platforms (multi-tenant SaaS) make it easy to manage tens to thousands of vehicles and integrate with logistics ERP systems, enabling large-scale fleet electrification incentives.
Concrete benefits / KPIs to track
•    Fleet availability/uptime (%) - aim to increase by 3–8 p.p. with predictive maintenance.
•    Energy cost per km and cost per hour of operation.
•    Mean time to repair (MTTR) and parts turnover reduction.
•    Idle time minutes per vehicle per day (optimization target: reduce 10–30%).
•    Total Cost of Ownership (TCO) year-over-year delta for electrified vs. ICE.
Implementation pattern/example
•    Tiered telematics: Basic location + SOC → Intermediate diagnostics + driver score → Advanced: BMS telemetry + cell-level alerts + remote firmware. Start fleets on basic tier; upsell advanced features once trust/data accumulates.
•    Integration playbook: Integrate telematics with (a) charging scheduling (to leverage off-peak tariff), (b) route optimizer (to minimize SOC risk), (c) warranty C workshop flows (auto-create tickets).
•    Monetization: Offer fleet analytics dashboard as SaaS, and usage-based insurance or uptime guarantees as premium products.

Q3. How do you see the overall size of the Indian EV market evolving over the next 3–5 years, and where do you expect the strongest growth to come from?

Continued strong growth — driven primarily by two-wheelers and three-wheelers in unit terms, and by passenger cars + LCVs in revenue terms. Fleet C commercial electrification (last-mile delivery, public transport, three-wheeler fleets) will be the fastest, practical adoption path due to clear TCO advantages.
Key numbers/evidence

•    FY 2024-25 India EV sales were ~2.04 million units (≈ 20.4 lakh), with e-2Ws accounting for ~59% of EV volumes and e-3Ws accounting for ~23% of EV volumes. EV share of total vehicle sales ≈ is 7.8% in FY24-25.
•    The Indian government aims for substantial growth toward 2030 (e.g., a 30% EV share by 2030). Recent policy briefs and government projections show ambitious targets and state policies supporting city targets.
•    Market revenue forecasts vary but imply very high CAGRs (mid-to-high 20s to 30s % in many reports through 2030). Example: Grand View/Mordor projections show strong revenue growth through 2030.
Where the strongest growth comes from
1.    Two-wheelers (unit growth): consumer adoption continues to accelerate as models, range, and charging/incentives improve. High unit volume and lower price points make 2W the highest absolute unit growth driver.
2.    Three-wheelers (commercial/passenger cargo): electrification of urban last-mile rickshaws, e-autos for fleet/rental, and cargo-3W for intra-city logistics — high-utilization fleets convert faster because the TCO case is strong. Some forecasts project millions of electric 3Ws on the road by 2030.
3.    Fleet conversions (LCVs buses): public transport C logistics fleets will scale in dense corridors where depot charging and predictable routes lower operational risk.
4.    Passenger cars (revenue growth): revenue share rises as higher-ticket EVs and higher-content vehicles sell more, but growth is more tied to charging infrastructure and model availability.
Practical implication for a 3-wheeler OEM: focus on B2B fleet customers, lease/BaaS offerings, and telematics-enabled uptime SLAs to capture early high-utilization segments.

Q4. What opportunities do you see in untapped customer segments or markets that could accelerate EV adoption?

1.    Micro-fleet operators aggregators (target: last-mile logistics, kirana deliveries)
•    Why: high daily km, predictable routes, sensitivity to operating cost.
•    How to win: offer TCO calculators, pilot fleet leases, and performance-based contracts (e.g., uptime guarantees).
2.    Formalized rental/gig platforms (shared 3W fleets)
•    Why: platforms consolidate demand and can centralize charging/maintenance.
•    Idea: co-invest in depots/fast swapping stations near dense demand corridors; offer dedicated OEM telematics portals for platform operators.
3.    Women-led micro-entrepreneurs / urban mobility programs
•    Municipal policies (some cities) offer subsidies for pink autos. Focused financing + training bundles can unlock rapid adoption. (Example: municipal incentives documented in local policies.)
4.    Rural peri-urban cargo for micro-commerce
•    Lower speeds and short daily trip lengths make 3W cargo ideal for electrification. Offer low-capex finance and local service hubs.
5.    Battery swap networks for high utilization 2W/3W fleets
•    Swap reduces range anxiety and shortens turnaround; attractive for high-util fleets if standards/interoperability cooperation is possible.
•    Business model: BaaS + subscription for fast turnaround.
6.    Institutional government fleets
•    Municipalities, utility crews, and last-mile public services — procurement cycles can be long but provide stable volumes. Proactive engagement + TCO pilots work well.
7.    Financing insurance partners as distribution channels
•    Embed financing offers into the sales channel; partner with insurers for telematics-enabled UBI (usage-based insurance) discounts.
KPIs to validate segments quickly

•    Daily average revenue kms, utilization rate, availability tolerance (hours/day), willingness to pay for uptime guarantees, payback period for fleet owner (months).

Q5. How do you see shifts in customer expectations, such as demand for cost efficiency and sustainability, influencing the EV market?

•    Customers will increasingly evaluate vehicles on TCO rather than purchase price. Key elements: energy cost per km, maintenance cost, residual value, and uptime.
•    OEM responses: product differentiation through lower energy consumption, modular batteries (swap/BaaS), and guaranteed operational metrics.
Sustainability brand preference

•    For corporate purchasers (logistics, e-commerce, delivery platforms), sustainability is an increasingly public KPI (ESG reporting). OEMs that can provide verified emissions reductions + lifecycle assessments can win contracts and premium pricing.
•    Example: Fleet customers may prefer OEMs that provide end-to-end recycling and battery disposal programs.
Experience services

•    Expectation for software features — remote diagnostics, driver performance, route analytics, and easy dashboards — will become table stakes. Customers will treat the vehicle + software experience as a combined product.
Behavioral shifts

•    Rising fuel prices and corporate ESG targets will accelerate conversions where TCO is already favorable.
•    However, range anxiety and service network concerns remain adoption frictions for retail customers — addressable via BaaS and telematics-led service.

Q6. How do you see global automakers entering India influencing the strategies of homegrown EV manufacturers?

1.    Raising the competitive bar on product quality features. Global OEMs bring scale, RCD, and international supply chains — they’ll push content (safety, connectivity, ADAS), which raises customer expectations.
2.    Channel consolidation pricing pressure. Large global players can subsidize early losses to gain share, pressuring smaller OEM margins.
3.    Technology partnerships with local manufacturing. Global entrants often localize rapidly (CKD/CKD+ suppliers), thereby accelerating the availability of components (motors, inverters, BMS).
Strategic responses for homegrown OEMs
•    
•    Hyper-focus on cost and use-case fit: Build vehicles optimized for local operating conditions (dust, gradients, payload) and for low-friction maintenance.
•    Software service moat: Differentiate with fleet-focused SaaS, service networks, faster turnaround, and telemetry insights — these are sticky and harder for new entrants to replicate quickly.
•    Partnerships niche plays: Team up with platform players (logistics, fintech) to lock in fleet customers via financing + depot solutions.
•    Faster local innovation: Move fast on battery chemistries suited for cost stability and on swapping/BaaS to neutralize range anxiety.
Real signals: Big OEM investments in India (and domestic players’ capex increases) show the market is becoming fiercely contested — e.g., major OEM investment announcements and startup growth plans.

Q7. If you were an investor looking at companies within the space, what critical question would you pose to their senior management?

Below are high-leverage investor questions (grouped) that reveal product viability, unit economics, defensibility, and scalability.
Unit economics TCO
1.    What is the TCO (per km and per operating hour) for your vehicle at current price points versus a comparable ICE vehicle and vs. competitor EVs? Show assumptions for energy costs, battery replacement, maintenance, and residual value.
2.    What is the payback period for a typical fleet customer under your pricing and service terms?
Demand go-to-market
1.    What percentage of recent orders are B2B fleet vs. retail? What pipeline deals are contracted (revenue-backed) vs. LOIs?
2.    What channels and partnerships are you using for scaling (financiers, aggregators, fleet operators)? Which channels have the quickest conversion?
Technology product
1.    Provide evidence of vehicle reliability: uptime %, MTTR, and common failure modes — for at least the last 12 months of field data. How do you collect and use telematics data?
2.    What is your battery strategy (owned vs. BaaS vs. swap), average depth of discharge, and expected calendar/cycle life? What warranty terms do you offer, and what is the historical replacement rate?
Supply chain unit margins
1.    What are your gross margins by SKU at current volumes and at 2× and 5× volumes? Which components (cells, BMS, motor, power electronics) are the cost drivers, and what is your roadmap for cost reduction?
Service network
1.    How extensive is your service network today (workshops, technicians), and what is the plan C cost to reach X% national coverage? What is the average downtime for warranty repairs?
Software data monetization
1.    What telemetry/software features are included vs. monetized? What is the monthly recurring revenue (MRR) and churn for your telematics/SaaS customers?
Regulatory policy risk
1.    How dependent is the business on subsidies or state incentives? What risk mitigation if incentives change?
Capital runway
1.    What is the current cash runway, and what unit economics or KPIs must improve before the next capital raise? What is the expected break-even timeline at the projected scale?
Defensibility partnerships
1.    Who are your top 3 suppliers and partners (cells, BMS, telematics), and what are the contractual terms that prevent them from switching to competitors?