Oben Electric dawns an epoch of daily riders

A few call it a Revolution while it truly is an Evolution. Humanity has continually advanced and discovered how to keep the evolutionary pace going. We have shifted for the better- one that makes our life smoother, work smarter, and travel swifter. Daily commuting has metamorphosized over the years from plain horseback riding to horse carriages to the very first fuel-powered vehicle to Electric vehicles.

The economy of electric vehicles is expanding by double-digit numbers and more so with National Governments’ imperative need to move to net-zero emissions due to calamitous climatic changes across the globe. With this push and robust support from the Indian Government, the EV Industry is spectacularly witnessing a plethora of great electric vehicles across segments- passenger, public, and last mile mobility. New organizations across the industry are indigenously developing products that not just challenge a conventional vehicle in terms of design, styling, and riding experience but also deliver impressive performance and unique features.

As an indigenous EV manufacturer, Oben Electric is proud to be part of the ‘Atmanirbhar Bharat’ and ‘Make in India’ programs of the GOI. It has and continues to stay committed to designing, developing, and manufacturing electric two-wheelers ground up. Its maiden product ‘RORR’, an electric motorcycle for the 150cc daily commuting segment has stood true to its top performance parameters- 200 km range (IDC), 2 hrs charging time, 100kms top speed, and sprinting from 0-40kms in 3 seconds. It is also the first and only electric motorcycle fitted with much safer battery chemistry- LFP, in the industry. A combination that has been proven benign, robust, and advanced over existing battery chemistries as of date.

“India witnesses a sale of more than 20mn units of two-wheelers of which more than 15mn units are motorcycles alone. Hence, the country is predominantly a larger market for motorcycles. Oben Electric’s deep insights, industry research, and calculated foresight helped the company foray into this blue ocean and cater to the daily commuting needs of a motorcyclist primarily. We are now targeting to launch a new electric two-wheeler in a span of every six months, with our initial manufacturing capability of three lakh units per year. While expanding rationally across seven states pan India as Phase 1, and other cities as Phase 2, we are also considering catering to the commuting needs of daily riders across the globe as

Phase 3. Our product ‘RORR’ has already begun to receive a great amount of zeal and inquiries globally, for its design, performance, and proprietary technology”, says Madhumita Agrawal, Co-founder and CEO, Oben Electric.

The industry shall grow ably with products that have been manufactured ground-up specifically keeping EV in mind and not importing, retrofitting, or reverse engineering existing product lines. The industry is novel and so is the technology, hence, to keep the escalation on a positive track, superior quality and well-performing electric vehicles are the need of the day. Offerings are rising, options are getting copiously vast, and EV demand is increasing, along with the industry becoming the new economy in Mobility.

Valued to reach USD 2 bn by 2025 and a penetration of 16% by 2025, the Indian EV industry is a hot investment zone as a USD 206 bn investment opportunity. There is also great encouragement and several incentives to foster the surrounding ecosystem such as power generation (India will become self-reliant in terms of power generation by 2025), production of EVs, 100% FDI under the automatic route, consumer-related incentives on purchase, tax as well as insurance, an assigned budget of INR 8597 crores for incentives, and INR 1000 crores for charging infrastructure.

These have been benevolent in driving the necessary capital for the principal growth of the EV Industry. Considering the vast opportunities and promising ROI the Industry offers today, the investment community is more willing than ever to invest. Angel investors, Venture Capitalists, Individual Investors, and Private Equities have collectively infused investments to the tune of more than USD 600 mn in EVs in 2022, an 8x growth YOY over the previous two years. Oben Electric has been able to successfully raise USD 2mn as seed capital from We Founder Circle (WFC), GVK Group, MD of Fortune 50 PE Fund & CXOs of MNCs, as it moves onto its next phase in raising funds.

Certain nascent verticals that initially raised brows such as R&D, technology, and EV ability have been put at bay. Oben Electric was formed with a vision backed by a collective experience of more than 20 years of strong R&D, sound business acumen, entrepreneurship, and a solid understanding of the EV domain ground-up whilst knowledge of critical components that make an EV. ‘RORR’ has 18 patents filed for its design, proprietary tech, and components, creating an edge over daily commuting e-vehicles.

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