Route to revenues – India’s transformation to electric mobility


Written by:
Ulla Koivukoski
Head of Avanto Ventures India

The private sector has drastically changed its stance on Electric mobility towards a more positive and supportive tone in the past year in India. The governmental organizations may still need some time to clarify the rationale behind decision making on policies regarding the entire field of advanced / electric mobility. The topic falls into the mandate of multiple ministries as well as Niti Aayog, the think tank of the government, therefore it might take some time to get policies signed off by all stakeholders.

Aligned with the objectives of the nation, as set by Prime Minister Modi and his government, individual states have taken decisive actions in publishing their local EV policies. Karnataka was the first state to publish an EV policy and Maharashtra recently announced the policy which includes plans to manufacture over 500,000 vehicles in the coming five years, creation of support infrastructure and consumer incentives. Many states have seen new mobility as part of their smart city initiatives, which are supposed to attract both foreign investments as well as skilled workforce, which often goes as a bundle. Although the central government is still indecisive, many of the local governments want to be part of the global trend to tap the potential for generating employment and economic growth through e-mobility transformation. The market has witnessed multiple initiatives, where public sector has announced investments in charging infrastructure and electric vehicles.


We believe that while support of public sector is required, the final creation and adoption of new mobility services will be done in the streets by pioneering vehicle-, infrastructure- and service providers and passengers, and will be driven by the services matching needs and expectations at the right price level for all players.  The recent news about Ola’s plans to scale down their ambitious electric fleet plans, which was not confirmed by Ola through, would suggest, that some work still needs to be done to find a viable business ecosystem with efficient business operations to drive the revenues with profit.

During the past months, we have conducted multiple dialogues with various industry stakeholders including the public sector in India and have analyzed numerous reports in public domain as well as the consumer study conducted by WRI India in Bengaluru. The key takeaways of our research can be found at

The execution of the desired electric mobility transformation in India, might benefit from a live lab pilot of the minimum viable technology and business systems focusing on passenger acceptance and the business models. Such a pilot is also on the agenda of Niti Aayog and Rocky Mountain Institute as described in their Light House City Grand Challenge announcement in November 2017. The winning city for the pilot is expected to be announced in March 2018.

For more insights into the business analysis, don’t hesitate to contact us: or

The handouts of the introduction to the report will be available at Elecrama 2018 expo at H2K7, Meher booth. I'll discuss the topic also in the panel: ”Transformation of on-road vehicles to EV/Hybrids in India” of e-Transportation track at the same event, on 13th March, 10:00 -11:00 AM.

Credits to former, Tekes, now Business Finland and a couple of Finnish companies helped us to write the report by funding the project.


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