World EV Day: “I Would Encourage People To Buy EV For Betterment Of Environment”

Shreshth Mishra, Co-Founder of Simple Energy started the company in 2019 along with his Co-Founder Suhas Rajkumar, and their journey started when they searched for a two-wheeler for latter’s father who wanted to purchase an electric vehicle. Speaking to Opportunity India Shreshth shared the journey of the company along with industry trends and challenges.

When and how did you start Simple Energy?

Shreshth: We incorporated the company in September 2019. We wanted to buy an electric two-wheeler but we did not get what we wanted then we planned to develop something that promises reliability, performance and we wanted to understand the requirement of people who want to purchase electric vehicles and that’s how we started it.

Now that you are into this business, what do you think are the challenges in two-wheeler manufacturing sector?

Shreshth: When we talk about automotive industry, it’s very capital intensive from designing to manufacturing plant which takes a lot of work and capital. These are main roadblocks for a new company to start.

When we talk about technology, there are so many companies which are acing their products, how are you competing with them?

Shreshth: In India there are over 500 companies registered and many of them are rebranding the product and selling them, we actually work of technology from design, develop and manufacture that gives us upper hand. We are different from all the other companies that are there.

What are the new products you are about roll out in the market?

Shreshth: We are working on two platforms of which one has been introduced as Simple One and other one would cater to top two or three segments of the pyramid of the consumer chart in the market. It will be a quality product.

There is significant increase in tier 1 market, what do you think about tier 2 and 3 cities which are lacking on the part of EV penetration?

Shreshth: I would say tier 2, tier 3 are one of the biggest market that should keep tab and we at Simple are eye these markets and that’s what we have in mind concerning product strategy. I thinks this market has evolved with time as people in these market are welcoming electric vehicles. I don’t see it as a challenge but yes, it is going to take some time.

Do you think lack of charging infrastructure as a challenge?

Shreshth: That is a challenge but I think in the longer-run we will have people charging two-wheelers at their homes and fast charging would be a supplementary which would support the EV adoption but people primarily will be able to charge their electric vehicles at home.

Do you think government subsidy plays crucial role in successful business in long-run?

Shreshth: Though the subsidies help businesses in initial stage but the businesses should be built independent of the government subsidies and that’s what we believe and do at Simple Energy.

What Message Would You Like To Send On The World EV Day?

Shreshth: Electric vehicles are the future and I would encourage people to go for an electric vehicle for the betterment of the environment.