Success in EV space demands a relentless commitment to problem-solving: Akash Gupta

Adgully has been turning the spotlight on the entrepreneurs who fought against all odds to bring their dreams to fruition in our special series – START-UP STARS. We at Adgully wholeheartedly support the ‘Vocal for Local’ movement and have been featuring numerous local/ homegrown businesses, brands, and Apps in the country launched in the last few years.

In conversation with Adgully, Akash Gupta, Co-founder & CEO, Zypp Electric, speaks about the origins of Zypp Electric, government initiatives and policies impacting the EV sector in India, growth of the electric vehicle sector in India, and much more.

What was your vision behind founding Zypp Electric?

At Zypp Electric, our vision was to tackle pollution and climate change head-on by prioritizing sustainability. We focused on solving the last-mile delivery challenge in India through innovative electric vehicle solutions. Our mission extends beyond just providing EV-as-a-Service; we aim to set a global standard in green logistics. By reducing carbon footprints and fostering eco-friendly transportation, we aspire to create a cleaner, healthier planet. Our journey starts in India, but our ambition is to revolutionize last-mile delivery worldwide, ensuring a sustainable future for all.

What have been the biggest challenges that Zypp Electric has faced in scaling up its operations, and how did you overcome them?

One of our primary challenges was navigating the complex landscape of electric vehicles (EVs) in the Indian market. We had to gain in-depth knowledge about various aspects, such as suitable battery chemistries, charging infrastructure, and the right types of EVs for the Indian consumer. In terms of vehicles, we had a range of two-wheelers, from cycles to high-speed and low-speed scooters. So, we closely collaborated with original equipment manufacturers (OEMs) to develop products tailored to the specific needs of our market.

Simultaneously, setting up robust processes was crucial since we were stepping into an industry in its nascent stage. It was essential for seamless operations. We carefully built our team from scratch, devised standard operating procedures, and provided continuous training and learning opportunities. Building a dynamic and adaptable team was essential in a rapidly evolving industry like EVs.

Financing was yet another challenge, as traditional banks and institutions initially hesitated to fund EV projects due to their unfamiliarity with the technology. To overcome this, we had to innovate and create new-age financing models, such as leasing, which enabled us to scale our operations and bridge the funding gap and thus make our model asset-light. Moreover, regarding EVs, range limitations are a major issue. A battery can only run 60-80 kilometers. We had to explore and implement solutions like battery swapping, fast charging, and advanced charging infrastructure to extend the vehicles’ range effectively.

Lastly, we had to bring together and nurture the entire driver ecosystem, ensuring that drivers were willing and equipped to use electric vehicles. This required developing technology solutions for safety and driver enablement. Throughout this journey, our nimbleness and dedication as a startup empowered us to continuously tackle these challenges through a combination of people, processes, and technology challenges. We remain committed to overcoming obstacles and driving the adoption of electric vehicles in India.

How do you see government initiatives and policies impacting the EV sector in India, and what additional support would you like to see from the government to promote electric mobility?

We applaud the government’s initiatives to nurture the Electric Vehicle (EV) ecosystem in India. Inclusion in the priority lending scheme is essential to facilitate easier access to capital. Reducing GST for EV services from 18% to 5% would significantly accelerate adoption, aligning service rates with the 5% GST on EV purchases. Additionally, introducing usage-based incentives for EV drivers, rewarding them for carbon savings and kilometers driven, will drive sustainable choices. Recognizing last-mile delivery as a distinct sector under logistics policies is critical. Establishing industry standards and supporting gig delivery partners will enhance efficiency and growth in this vital segment.

What strategies does Zypp Electric employ to stay ahead of the competition in the rapidly growing EV and last-mile delivery market?

At Zypp Electric, our strategy to stay ahead in the rapidly growing EV and last-mile delivery market revolves around strong partnerships, technology, and sustainability. Serving 24 leading companies, including Zepto, Zomato, Amazon, and Blinkit, our all-electric fleets are the preferred choice for eco-friendly logistics. With 22,000 EVs reducing tons of emissions daily, we are making a significant environmental impact.

Looking ahead, we plan to add 100,000 vehicles within 18 months to boost revenue and sustainability. Leveraging advanced technology, real-time tracking, and data analytics, we aim to maximize value for partners and drivers, enhancing last-mile logistics for diverse businesses.

What are your predictions for the growth of the electric vehicle sector in India over the next five years, and how is Zypp Electric positioned to leverage this growth?

The electric vehicle (EV) sector in India is poised for exponential growth over the next five years, driven by increasing environmental awareness, supportive government policies, and advancements in technology. At Zypp Electric, we are strategically positioned to capitalize on this surge. Our focus on innovative, sustainable last-mile delivery solutions aligns perfectly with the market’s evolving demands. We are expanding our fleet, enhancing our charging infrastructure, and forming strategic partnerships to ensure we remain at the forefront of the EV revolution. By prioritizing efficiency and sustainability, Zypp Electric is committed to driving India’s transition to a greener future.

Could you elaborate on the key technological innovations Zypp Electric has implemented in its IoT and AI-enabled scooters, and how these innovations contribute to efficiency and sustainability?

At Zypp Electric, innovation is at the heart of our strategy to deliver sustainable, tech-driven mobility solutions. As India’s largest EV fleet operator, we harness cutting-edge technologies like AI, ML, and IoT to enhance efficiency and sustainability. Our full-stack SaaS platform provides real-time monitoring and optimization of thousands of EVs, offering data-driven insights for better decision-making.

Key innovations include motor locks for enhanced security and a sophisticated battery management system that maximizes battery health and longevity. Our AI/ML and IoT-enabled technology suite informs decisions on vehicle allocation, battery swapping needs, and predictive maintenance, ensuring operational efficiency.

Our platform integrates client interfaces, fleet management tools, and analytics dashboards, enabling seamless real-time fleet monitoring and ride evaluations. This technology enhances driver safety, optimizes vehicle usage, and ensures timely maintenance. By continuously innovating, we aim to expand our fleet rapidly while maintaining high standards of service and sustainability, ultimately contributing to a greener future for India.

What advice would you give to young entrepreneurs looking to enter the EV sector or start their own tech-enabled service platforms?

To young entrepreneurs aspiring to enter the EV sector or start tech-enabled service platforms, my advice is to focus on identifying and solving real problems. Research thoroughly to understand consumer needs and market challenges. Rather than following existing business models, analyze consumer behavior and market dynamics to discover unique problems that need solutions. The electric mobility sector offers numerous opportunities for innovation. Once you identify a problem, act swiftly and be ready to pivot, if necessary. Success in this space demands a relentless commitment to problem-solving, adaptability, and a willingness to learn from both successes and failures.

What are the future expansion plans for Zypp Electric, both in terms of geographic reach and service offerings, and how do you plan to achieve these goals?

Looking ahead, Zypp Electric is poised for substantial growth. We plan to scale from 22,000 EVs to 200,000 EVs in the next 18 months, expanding our presence across multiple Indian cities. While I cannot disclose specific financial figures at this time, our commitment to strong financial performance remains steadfast. We will introduce new, cutting-edge products to ensure more people have access to clean and efficient e-mobility solutions. Our focus on sustainability, combined with the growing demand for eco-friendly transportation, positions Zypp Electric for continued success. We are excited about the future and remain dedicated to making a significant impact on India’s e-mobility landscape.