Manuj Khurana - Tesla Quit and Join E-Scooter Startup Ather Energy Pvt
Tesla's former India policy chief Manuj Khurana is joining a new e-scooter startup. The company is called Ather Energy Pvt and it is based in the southern Indian technology hub of Bangalore. Although the company has not yet disclosed his role, it is believed that he will be a vice president at the company.
Ather has recruited senior management to help build the company. These executives include former research lab researchers and IIT-Madras alumni. Tiger Global's Lee Fixel, a key investor in Flipkart, saw potential in Ather's approach and decided to invest.
The timing is right for the two-wheeler electric vehicle industry. The country consumes most of its fuel by using two and three-wheeled vehicles, and car ownership is extremely low compared to other countries. The country only has 22 cars per 1,000 people, as opposed to 980 in the U.S.
The Indian EV market is expected to reach $150 billion by 2025, and is expected to grow four-fold over the next decade. The company is also attracting blue-chip investors looking for alternatives to China. The country's success in building affordable electric vehicles could serve as a model for developing nations around the world. With government subsidies, EVs in India are now cheaper than internal combustion engine models.
While the Indian government is working hard to bring electric vehicles to India, the government is not ready to scale the production of its electric vehicles to create a viable industry. The country is facing a severe shortage of raw materials that can be used to produce batteries. This makes it extremely difficult to produce the vehicles. Nonetheless, the Indian auto industry is still competing with larger foreign automakers like Tesla. The government has launched the "Make in India" initiative to help Indian companies create an electric vehicle ecosystem.
Triton EV is a competitor of Tesla and plans to establish an EV manufacturing plant in Telangana in India. The company plans to invest over $1 billion in the new plant and create 24,000 jobs in Telangana alone. It plans to add another $300 million to the plant in the next few months.
At the same time, the government has announced several incentives for electric vehicles. First, they will be free of road tax and registration fees for five years. Next, they will be able to get free parking and free permits. These incentives are aimed at encouraging people to ditch their dirty two-wheelers and upgrade to electric vehicles.
Nio's battery swapping system sets it apart from the competition. Riders can swap their batteries in a matter of seconds. Secondly, the company will implement battery swap stations across the UK in the coming years. The company plans to bring a new model to the UK by the end of 2023. The ET5 model will launch first in the UK, and will be followed by others in the near future.