Subsidies Only Support; Can’t Help Businesses Grow In Long-Run: Gemopai

Inspired by China, which is rapidly transitioning to electric mobility owing to the rising level of pollution, Amit Raj Singh in 2017 launched electric scooters in India under the name of Gemopai to combat the increasing carbon emissions in the country. Raj who spent nearly 12 years in China while doing business, shares the journey of Gemopai in Indian electric vehicle market, with Opportunity India. 

What Challenges Did You Face In The Initial Years Of Gemopai?

Amit Raj Singh:  As with any other new business, the biggest challenge we faced at Gemopai was to find the pulse of the market. To that end, we conducted comprehensive market research and found that mileage and cost are the topmost concerns for buyers in the electric mobility sector. We kept these concerns in mind while developing our electric scooters and as a result, Gemopai’s portfolio offers an incredible range and the lowest ownership cost to the target market.

How Did You Manage Funding The Manufacturing Of The Product?

Amit Raj Singh: We forayed into the manufacturing of electric scooters in 2017 and I must admit that the time back then was not as conducive for electric mobility as it is today. We started the venture with our own money and although faced a lot of challenges in operationalising the idea into a reality, things started to turn in our favour eventually. I am happy that today Gemopai is performing exceptionally well on all critical indicators of performance.

What Can An Entrepreneur Learn While Knowing Your Journey In This Market?

Amit Raj Singh: Gemopai has carved a place for itself owing to its laser-sharp focus on customer needs and aspirations. This customer orientation is one critical learning that entrepreneurs can imbibe from the business model of Gemopai that, in turn, will help them to become successful in today’s highly competitive business environment. We are equally focused on the creation of a win-win situation for the entire ecosystem of electric mobility which is another crucial lesson that businesses need to imbibe for getting success in their entrepreneurial ventures.

What Have You Learnt So Far In This Business?

Amit Raj Singh: Tapping into the fast-changing aspirations of customers and converting them into favourable market offerings is the key to remaining sustainable in the business for the long term. It is also essential for business ventures to guide consumers towards sustainable products that promise to deliver superior value to consumers without compromising on important parameters of quality, safety, and environmental protection among others.

What Are The New Plans You Are Working On?

Amit Raj Singh: Currently, we are working wholeheartedly on upgrading our line-up with a discrete focus on enhancing the range of our electric scooters. The company is also working on bringing a slew of new products into the market besides putting our efforts to expand dealership and service support for prospective buyers across the country.

What Advice Would You Like To Give Young Entrepreneurs?

Amit Raj Singh: Delivering superior value to customers should be the first priority for entrepreneurs. In addition, the ability of enterprises to strike collaborations and cooperate with other stakeholders in the business ecosystem can also make a significant difference in the growth and profitability of new business ventures. Furthermore, it’s essential for budding entrepreneurs to equally focus on their teams, empower them, and keep them motivated all the time.

How Do You Compete With Other Brands In This Sector?

Amit Raj Singh: The unique selling proposition of the Gemopai brand is its focus on delivering holistic benefits for the entire ecosystem of electric mobility. While customers continue to remain at the epicentre of our business activities, we are equally invested in optimising the efficiency of our suppliers and channel partners. This holistic viewpoint is helping us to stay ahead of the innovation curve and deliver superior benefits to consumers across the price spectrum we compete on.

What Challenges Are There For The OEMs In The Industry?

Amit Raj Singh: In the electric mobility segment, the competition for getting access to a supply of quality batteries is a big challenge. As India has yet to become self-reliant on the battery front, the issue will continue to remain contentious for manufacturers in the near future. That said, we are witnessing a steady improvement in the supply of batteries and hope that the ongoing progress in establishing the ecosystem for Electric Mobility in the market will alleviate the concerns of OEMs in the electric two-wheeler market.  

What Is The Idealization For EV Mobility In Tier 2 And Tier 3 Markets In India?

Amit Raj Singh: The tier 2 and tier 3 markets have been particularly enthusiastic about adopting electric scooters as a preferred medium of mobility. There are a slew of reasons behind this encouraging response and prominent among these are the low running cost, maintenance cost, and total ownership cost associated with electric scooters. In addition, there’s not much difference in the retail price of electric and conventional scooters which is further catalysing the transition of the masses across India towards electric mobility.

What Are You Expecting From FAME 3.0?

Amit Raj Singh: Like other beneficiary schemes, we expect FAME 3.0 to have the provision of directly transferring the incentives to the bank accounts of the beneficiaries. The direct benefit transfer (DBT) has already proven a great success and at Gemopai, we expect that prospective buyers will receive incentives directly into their bank accounts under the provisions of FAME 3.0.

Is There Really A Need For Subsidies For The EV Sector As Many Players Are Saying That There Is No Need For It In The Long Run?

Amit Raj Singh: The development of a self-sustainable business ecosystem mandates that its stakeholders should not depend upon subsidies, incentives, or any other form of external aid. The provision of subsidies might help the industry in the initial stages of development. In the long run, the successful running of the sector depends upon the ability of participants to attract customers, optimise processes, and run operations successfully. As far as the segment of electric mobility is concerned, the provision of subsidies is purely a prerogative of the government. We at Gemopai believe that it’s the primary responsibility of stakeholders to establish a self-sustainable ecosystem for electric mobility and concerted efforts in this regard must be made in collaboration with each other.