Frugal Innovation – How EVs and Solar Energy Can Generate Prosperity
Published on : Sunday 05-04-2020
Christie Fernandez is focused on providing affordable, comfortable and eco-friendly last mile transportation of people and goods.
Everyone is aware that affordable mobile phones enabled India to leapfrog into the digital age – in communications, media, banking, commerce, travel, education, etc. Almost everyone in India now have access to more economic opportunities, but a major impediment is access to mobility and the cost of mobility. Fortunately, electric vehicles coupled with solar energy, can provide a cost-effective solution for this challenge of affordable mobility. Already, we have witnessed electric rickshaws proliferate across India, with over 1.5 million eRickshaws providing last mile mobility for millions of commuters, at affordable fares every day. These eRickshaws cost less than traditional fossil fuel autorickshaws (3-wheelers), are produced locally by small enterprises, and run on lead-acid batteries. Large manufacturers, late to realise this huge opportunity, have now started manufacturing eRickshaws with lithium batteries, and swappable batteries are also being incorporated in some vehicles. However, most of the eRickshaws resemble traditional vehicles, and are not designed for passenger comfort or safety. With electric vehicles, India has an opportunity to become self-reliant in mobility and energy, and transition to Atmanirbhar Bharat.
As an entrepreneur, I believe that good design and aesthetics is as important as functionality. In fact, customer centric design combined with frugal engineering, can enhance performance and profitability.
Sooorya EV, founded by me, is focused on providing affordable, comfortable and eco-friendly last mile transportation of people and goods. Sooorya EV is producing a multi-purpose electric van, an 8-seater with flexible seating, to even accommodate wheelchair passengers, pets and goods.
Sooorya EV is focused on eMobility, which is an ecosystem of electric vehicle + energy + services + commerce. We are developing electric vehicles that can make use of renewable energy for mobility and to power small businesses and residences.
What’s unique?
1. Purpose built for ridesharing – The market for short distance app-based taxi hailing services is estimated at US$330 billion and is projected to grow rapidly to US$838 billion by 2025.
2. Business model (similar to Apple): Based on a capital light, virtual manufacturing, integrated SCM and distributed assembly.
3. Design and manufacturing (similar to IKEA): The vehicle is being designed for modular construction and easy assembly, to enable contract manufacturing (franchise).
4. Zero charging downtime (no range anxiety): Swappable Solar Recharged Batteries (SSRB), reduces the size/weight and cost of the vehicle, while ensuring zero charging downtime which is crucial for the fleet segment.
5. Social impact: Swappable batteries can be recharged using clean renewable energy. Intend to involve rural population in battery recharging using solar kits, providing an additional source of income from solar harvesting for the farming community.
Our uniqueness comes from agility and strong IP defense:
-IP development considerations
-Modularity of vehicle architecture and design
-Sensors and IoT (Plug & Ply)
-Digital twin and virtual manufacturing
-Circularity usage of parts
-Efficient logistics and shipment
-Ecosystem development (eMobility)
-Other differentiation factors
-Partnerships and agility in R&D
-Customer centricity (true understanding of market needs)
-Multiple revenue streams.
Executive Summary
• Ride-sharing usage growth and Electric Vehicles sales will capture most of the growth in the car sales worldwide. Developing nations will drive most of that growth as well.
• Sustainability and climate change will need solutions to address a massive shift to cleaner transports and energy
• Sooorya is the car of the future – Utilitarian, tech-enabled, customisable
• The market opportunity is huge: we intend to capture at least 1% of the global ride-sharing vehicle and that would represent a business doing $6.5B of sales by 2030
• We also want to fundamentally re-think how cars are produced and sold by empowering local entrepreneurship. This will make us faster, cheaper and more agile.
Why do you feel compelled to build this business?
Just like how mobiles have empowered many, affordable mobility can add to this empowerment. There is a growing demand for last mile transportation, which can be best served with an affordable purpose-built vehicle (Ride-sharing Taxi).
Large automobile manufacturers are not interested in the taxi segment which comprises 10 to 15% of the passenger car market, because it has a negative impact on their brand image. Besides, their extensive product range and high overheads make them uncompetitive. I have made considerable progress in this venture, which happened relatively easily, along with recognition as a thought leader, leading to articles and speaking invitations. I am well networked in this industry, able to forge partnerships and attract talent from leading automobile manufacturers. All this convinces me to move ahead and build this business for the good of our planet, and the less privileged, while ensuring profitability for all stakeholders.
What do you hope to achieve?
I hope to build a multi-billion dollar company, which is sustainable and profitable. Generating opportunities for micro entrepreneurs and an additional source of income for the rural population, will have a positive societal impact.
Christie Fernandez is a serial entrepreneur, brand/marketing consultant, autodidact and polymath. In his own words: I had a revelation on how electric vehicles can alleviate poverty in the developing countries. This made me realise my purpose in life, which is to propagate clean transportation/energy and alleviate poverty. This led me to launch Sooorya EV (www.sooorya.com) – an electric vehicle startup focused on providing affordable, comfortable and eco-friendly last mile transportation in the developing world.