Company Profile: Batt:RE

Background

Founded in 2017, Batt:RE is an Indian electric vehicle (EV) manufacturer headquartered in Jaipur, Rajasthan. The company is dedicated to providing sustainable and affordable electric mobility solutions, aiming to reduce carbon footprints and promote greener transportation options. Batt:RE's product lineup includes electric scooters and bicycles designed to cater to the diverse needs of urban commuters.

Key Strategic Focus

Batt:RE's strategic objectives center on:

Product Diversification: Offering a range of electric two-wheelers, including city scooters, off-road models, and hybrid variants.

Technological Advancement: Incorporating features like smart TFT displays, navigation assistance, and connected drive capabilities to enhance user experience.

Market Expansion: Strengthening its presence across India, particularly in tier II and III cities, through an extensive dealership network.

Financials and Funding

In the fiscal year 2022-23, Batt:RE reported:

Revenue: ₹88.07 crore, a 6.3% decline from the previous year.

Expenses: ₹87.35 crore.

Profit: ₹47.52 lakh, an 87% decrease from ₹3.84 crore in FY22.

The company secured approximately ₹2.9 crore in a seed funding round led by Agility Ventures in late 2022. Post-funding, the shareholding structure includes:

Nishchal Chaudhary: Major shareholder.

Kshitija Nishchal Karnik: Approximately 30%.

Pankaj Tarachand Sharma: Approximately 15%.

Pipeline Development

Batt:RE has been expanding its product portfolio to include high-speed electric scooters and motorcycles. The company plans to introduce additional models, including delivery vehicles, to cater to a broader audience and penetrate tier II and III markets.

Technological Platform and Innovation

Batt:RE emphasizes innovation through:

Proprietary Technologies: Development of electric scooters with features like smart TFT displays connected via the Batt:RE app, offering navigation assistance and call alerts.

Scientific Methodologies: Rigorous testing protocols, including 100,000 km durability tests, to ensure safety and reliability.

AI-Driven Capabilities: Integration of AI-assisted analytics in their smart displays to enhance the riding experience.

Leadership Team

Nishchal Chaudhary: Founder and Director. With nearly two decades in the telecom industry, he transitioned to the EV sector to promote sustainable mobility solutions.

Kshitija Nishchal Karnik: Whole-time Director.

Gajendra Pal Singh Chandel: Director.

Competitor Profile

Market Insights and Dynamics

The Indian electric two-wheeler market is experiencing rapid growth, driven by increasing environmental awareness, government incentives, and rising fuel prices. The market is characterized by intense competition among established players and new entrants.

Competitor Analysis

Key competitors include:

Ola Electric: Offers a range of electric scooters with advanced features and has a significant market presence.

Ather Energy: Known for high-performance electric scooters with smart connectivity features.

Hero Electric: One of the oldest players in the Indian EV market, offering a variety of electric two-wheelers.

Revolt Motors: Focuses on electric motorcycles with AI-enabled features.

Strategic Collaborations and Partnerships

In 2022, Batt:RE partnered with the Royal Challengers Bangalore (RCB) as their official EV partner for the Indian Premier League (IPL) season, enhancing brand visibility and aligning with a popular sports franchise.