The next decade will be a decade of EV vehicles. According to consulting company RBSA Advisors research, India's electric vehicle (EV) industry is expected to grow at a 90% compound annual growth rate (CAGR) over the next decade, reaching $150 billion by 2030. The rising prices of fossil fuels coupled with the increased concern for the environment have led to an accelerated push to adopt EV vehicles. Sanjeev Kumar, founder of ENVI experienced the unsustainable practices early on. Bangalore called the garden city of India is now the concrete jungle of India. He felt the need of a solution that offered a sustainable alternative. While researching on his Berkley Hass MBA project, Sanjeev realised the profound impact that EV vehicles could create. One kilo of CO2 could be saved with every trip on an EV vehicle. Finally, with more research, market study and deeper understanding of the EV industry, Sanjeev came up with the idea of ENVI.
India's EV market Opportunity
India has already shown a solid willingness to play a significant part in this paradigm change in the automobile industry. Additionally, India has stated its intention to become the world's largest electric vehicle center eventually. Industry professionals view electric autos as a viable option. While the Indian electric car industry is still in its infancy, it is predicted to grow at a 90% compound annual growth rate between 2021 and 2030. In 2021, electric vehicle sales in India will account for just 1.3 percent of total vehicle sales. By 2025, India's electric vehicle (EV) industry is expected to grow to a $7.09 billion potential.
Bestvantage’s Reasons to invest in ENVI
The Claim to FAME: The FAME India initiative was created by the Indian government to limit the use of petrol and diesel automobiles and was part of the national electric mobility mission plan. The FAME India initiative promotes electric car purchases. The government will subsidies the purchase of new electric automobiles to encourage electric transportation
“ We're thrilled to formally launch our activities in the electric vehicle industry with Malbork (ENVI)”
- Shoji Shiraishi,MD,MBSI
Competitive landscape: The EV ride hailing ecosystem in India has garnered lot of eyeballs recently. BP Ventures made its first direct investment in India by pumping in $13 million in integrated EV ride-hailing and charging company BluSmart. It led a $25 million Series A round in Sep 2021 that also saw support from Mayfield India Fund, Unicorns and Survam Partners, alongside other existing investors
Rising fossil fuel prices: State-run fuel retailers on Saturday raised petrol and diesel marking the 10th increase in 12 days in which the fuels have become costlier by Rs 7.50. The spike was in line with global oil and gas price increase due to the Russia-Ukraine conflict. Interestingly the running cost of EV vehicles comes to one tenth the cost of a comparative petrol vehicle
The Yamaha angle: Yamaha enters India's electric vehicle sector with the Envi by Malbork. Yamaha Motor's Moto Business Service India (MBSI) has invested an unknown sum in B2C cab aggregator Malbork Technologies to enter the electric vehicle segment for four-wheelers.
First mover’s advantage: ENVI enjoys a first mover advantage in Bangalore over its competitors and if it scales rapidly, the company can establish a competitive mode in Bangalore
Carbon Footprint: According to a 2017 FICCI report and Rocky Mountain Institute paper titled Enabling India's Transition to Electric Mobility, India's move to shared, electric, and connected mobility in the passenger vehicle segment may help avoid almost one gigatonne of carbon dioxide emissions by 2030.
It is critical to highlight here that if the energy used to charge the battery is not solar or hydel, the system defeats the purpose and is not pure, which is a point of contention for many green warriors worldwide. However, if you disregard this and consider the total impact on the environment, EVs will always win out over gasoline-powered vehicles.
About Malbork
Malbork is a Bengaluru-based electric sustainable energy taxi service founded in 2018 by N Sanjeev Kumar. One of its products, Envi, is an environmentally friendly electric vehicle and the city's only app-based B2C cab aggregator service.
"To improve one's quality of life in our communities, we are developing a sustainable transportation paradigm through the deployment of zero-emission electric vehicles and the employment of low income community people. We are expanding the number of electric vehicles on the road and producing social value in collaboration with our EV manufacturers, fast charging partners, driver community, and local government bodies," stated Sanjeev Kumar, CEO and founder of Malbork Technologies.
About Bestvantage investments
Bestvantage investments is an investment platform that offers one stop solution to all Startups investment needs by offering investors an opportunity to invest in verified startups that are poised to be the unicorns of tomorrow.
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The ENVI seed investment round is still open. Contact us on ankita@bestvantageinvestments.com if you want to be a part of this revolution and want to explore investment in Envi by Malbork.