The importance of using electric vehicles or EVs is on the rise. EVs are under the spotlight because of their cost-effectiveness compared to petrol and diesel prices and their effectiveness towards green mobility without taxing the environment.
With a humble beginning in Andhra Pradesh, The Royal EV has already carved a name. The brand’s USP is its in-house battery manufacturing.
In conversation with Life Beyond Numbers, founder & CEO of The Royal EV, Viswanath Kari, shared his entrepreneurial journey and how his venture plans to make a difference in everyday lives and make this world a greener place.
We use LiFePo4 batteries, and this technology is the safest in the battery segment. Our in-house battery has more than 2000 life cycles than other brands with only 300-500 cycles. Our goal is to deliver the best to the customers and give quality services.
Viswanath was passionate about automobiles since his childhood. Recollecting on his early years, he narrates how he used to walk 4 kilometers every day to reach his school, and his father had to travel over 40 kilometers to get to his work.
“I grew up understanding the struggles most families have to endure daily. And it left a profound impact on my thought process.“
In recent times Prime Minister Narendra Modi’s call for ‘Make in India’ clubbed with the dynamic leadership of Andhra Pradesh spurred Viswanath to venture into the automobile business dealing with electric vehicles (EVs).
Nevertheless, he had to face initial hiccups while setting up this venture. Hailing from a non-business background and having no one to mentor him, Viswanath had to start everything from scratch. The automobile sector has its set of challenges.
In 2019, I floated The Royal EV. My childhood passion turned into my profession, and the aim remains to provide affordable e-vehicles to the commoners.
Viswanath shared that he had to learn and unlearn many things, and forming a well-skilled team in Andhra Pradesh was not easy.
“No skilled human resources were readily available, and another issue was the expansion and capital. I was guided by Mr. Kishore, Branch Manager of Bank of Baroda, Pendurthi, in the right direction. I met the right person at the right time.“
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Sharing a few other impediments, Viswanath states, “I had gone through a lot of ups and downs, and the primary ones were in the form of the registration process, documentation, accounting, arranging capital. However, all these things and problems were settled within six months of operating. Thanks to the excellent team that I built over time, they always aligned with my ideology that solved the problem.“
Funding plays a crucial role in floating, running, sustaining, and thriving a startup. How did it work for Viswanath?
“The Royal EV came into existence with my savings. As the business grew, I took personal loans from banks, and my friend, Raju, aided me in meeting the fund requirements for the company. In the later expansion phase, the SBI-BHPV branch team, Mr. Keshav and Mr. Sai Ram Patrudu understood my business model and supported our vision. They helped me in securing the working capital from SBI.“
In 2019, Viswanath was the only employee at The Royal EV. Slowly and steadily, the team expanded, and today it has 48 members working directly. Indirectly, it has generated over 70+ employment opportunities through its franchise network.
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The brand has hired locals. They are thoroughly trained and skilled with the know-how-techniques and how-to-do methods. Today, the team has become adept and experienced, performing their duty with quality and uncompromised perfection.
The Royal EV works on the ethos of ‘Go Green‘ and wants to create a pollution-free society.
Everyone has the right to live in a pollutant-free atmosphere, and we wish to achieve this with the support of the Indian middle-income group, who constitute a significant ratio in the country’s population. The aim is giving the cost-effective electric transport mode options.
According to Viswanath, every customer who uses EV conserves the environment, and such vehicles help in reducing CO2 emissions.
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“You might be aware that EVs have zero tailpipe emissions which reduce air pollution in cities. By 2030, under FAME, the government aims to add EVs. If by 2030 these aims are achieved, this will drop 846 million tons of net CO2 emissions over their lifetime and reduce the dependence on oil,” shared Viswanath.
The brand also has activities earmarked under CSR. It has been actively participating in different activities and initiatives, including conservation and cleaning of the environment. In 2022, it strives to focus more on such causes.
With infrastructure, development EV will be the most preferred mode of transportation in the country. Royal EV is working in this direction, especially in the South Indian market. India needs to reduce air pollution, which will pave the path of the same. The high fuel prices will further add fillip to its demand, and the abundant availability of renewable energy in the country is a bonus.
The future is full of possibilities for this brand. It is also working on in-house manufacturing of the Electric Motor Cycle, and as of date, it has completed the prototype for the same. The brand is also on the path of expansion and has already initiated the necessary steps for funding. Shortly, it will set up a new unit dedicated to electric bike manufacturing, which will help achieve its goal.
“We as a team are aspiring to place Royal EV among the top five companies in this automobile sector in the county by 2023. And we have been working relentlessly to achieve this goal.“
He has advice for budding entrepreneurs who wish to venture into this niche market.
“Get out of your comfort zone and take risks. The new generation has everything at its fingertips. Make the best use of it.“