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In this interview, Udit Agarwal, CEO of Fujiyama Power Group, spoke about the current state of India’s electric scooter market, and how Fujiyama EV plans to make electric scooters accessible through value-driven pricing and cost-effective measures.
Read the complete interview:
TechGraph: India has seen a surge in the adoption of electric scooters. How does Fujiyama EV perceive the current state of the Indian e-scooter market, and what opportunities do you see for growth?
Udit Agarwal: The landscape of the electric two-wheeler (E2W) market in India has undergone significant transformations, characterized by both challenges and opportunities. With government subsidies shaping market dynamics, certain brands have emerged as frontrunners, while others have faced setbacks. This is a growing industry and the domain will continue to see rapid expansions as brands, new and old, continue to develop and serve the varying expectations of the market through innovative and smart vehicles.
Fujiyama EV recognizes this evolving industry and anticipates continued expansion as brands innovate to meet diverse market demands. We strategically position ourselves within this dynamic spectrum, aiming for a sustainable 10% market share over the next three years.
TechGraph: Charging infrastructure still remains a significant concern for potential electric scooter buyers in India. What initiatives is Fujiyama EV undertaking to address this challenge and make charging convenient for customers across urban and rural areas?
Udit Agarwal: While charging remains a top concern for owners and/or potential buyers of electric vehicles, we believe the final solution lies not in having a wider charging infrastructure but in delivering a sustainable, practical, and long-term solution for the users. The answer is to offer consumers a fully charged battery at the same time it takes ICEV users today to get a full tank of gas.
We are taking a two-pronged approach in this scenario. Enhancing the technology and components of our vehicles to make them more power-efficient, delivering more miles to the charge being the in-house action. The other avenue we are working on in parallel is to partner up with leading Battery Swapping operators in the country to create an eco-system that has a zero learning curve to speak – maintaining that familiarity of operation compared to the current ICEV vehicles for the current and future users of E2Ws.
TechGraph: As we all know India is one of the most price-sensitive markets. How does Fujiyama EV plan to make electric scooters more accessible in terms of pricing, and what measures are taken to reduce the overall cost of ownership?
Udit Agarwal: It’s safe to say India is a price-sensitive market, however, India is also a market that is ready to invest in value-for-money goods. Recognizing India’s price sensitivity, Fujiyama EV is committed to offering value-driven solutions. By striking a balance between customer expectations and desires, we provide a diverse range of electric scooters starting from INR 43,000 to INR 90,000, catering to various performance and battery preferences. Moreover, our focus on cost-effective manufacturing processes and innovative battery options, including lithium, lead, and battery-swapping models, ensures accessibility and affordability for every Indian consumer.
TechGraph: Government policies and incentives play a significant role in promoting electric mobility. How does Fujiyama EV collaborate with or leverage government initiatives to boost the adoption of electric scooters in India?
Udit Agarwal: We are in sync and in agreement with Government policies introduced on the EV industry as it purports a green and clean India as a long-term objective while creating an environment that nurtures the manufacturing industry and turbocharges the technology sector, ultimately resulting in a mass scale employment, technologic, industrial, and service industry growth.
From our vehicles to our manufacturing units, we are in compliance with and have availed every benefit offered by the Government of India so we could pass on the same to our consumers which conclusively results in a more affordable vehicle for them, the upshot of which is a wider and faster adoption of our vehicles.
TechGraph: Electric scooters have the potential to transform transportation in both urban and rural areas. What is Fujiyama EV’s strategy for penetrating the rural market in India, and how do you plan to address the unique challenges in those regions?
Udit Agarwal: In pursuit of market expansion within rural regions of India, our company has implemented a comprehensive strategy meticulously designed to address the distinctive needs and obstacles inherent in these areas. This has led to the development of electric scooters specifically engineered to cater to the commuting requirements of rural inhabitants.
By integrating advanced technologies aimed at enhancing durability, affordability, and minimizing maintenance costs, we aim to empower rural communities with the necessary tools to make informed choices regarding the adoption of electric vehicles. Through our ongoing efforts, Fujiyama remains steadfastly committed to fostering sustainable transportation alternatives and fostering economic growth within rural communities.
TechGraph: Lastly, how does Fujiyama EV envision incorporating future technologies such as AI, IoT, or smart features into its electric scooters to meet the evolving demands of the Indian market?
Udit Agarwal: At Fujiyama EV, the integration of emerging technologies such as AI, IoT, and smart features extends beyond vehicle functionalities. We harness these innovations across our value chain, from sourcing and manufacturing to customer service, to enhance operational efficiency and meet evolving market demands. Through a comprehensive approach, we aim to deliver superior electric scooters equipped with intelligent features tailored to the specific needs and preferences of Indian consumers, ultimately advancing the mobility landscape in the country.