Chennai, Tamil Nadu, India: Chennai-based EV startup Aventose Energy is targeting a 100-125 cc segment which amounts to 90% of the Indian two-wheeler market. They have an ambitious target of capturing 5% of the overall Indian two-wheeler market by 2026. They intend to export to Europe, APAC, and Latin American markets starting 2022. Aventose, currently bootstrapped and funded by family and friends is looking to raise $2 million seed funding. Aventose plans to break even within the first year of product launch.
Chennai-based Aventose Energy will be launching durable and hassle-free electric alternatives to 100-125cc petrol 2-wheelers by September 2021. These products will provide performance equivalent to petrol versions which form approximately 90% of the 2-wheeler segment.
Aventose product portfolio will include flagship S110 e-scooter, higher performance S125 e-scooter, M125 motorcycle, and in 2022 loading and passenger 3-wheelers.
S110 will come with a swappable battery which can be easily removed and charged at regular plugs present everywhere. The target eco range is 100 km, the wheel torque 140 Nm, max speed 60 mph and it will come with a mid-mounted PMSM motor, 17-inch alloy wheels, 3 years warranty, and a price tag of 89,000. Aventose is in talks with major insurance and financing companies in India to provide a one-stop solution to customers.
S110 is completely manufactured in India except for cells and semiconductors. Aventose plans to solve major service and spare issues faced by current EV owners through partnerships with high quality, well-established tier-1 component manufacturers. Aventose promises rugged, safe, unisex, multiage, elegant electric mobility for city and rural markets while catering to the multi-utility requirements of Indian families.
Vilas Tank, Founder and CEO of Aventose Energy said, “S110 has reached pre-production stage in 2 years’ time despite two Covid-19 waves. This has been possible due to the Aventose team’s experience in automotive industry, setting up R&D centers/manufacturing plants, and launching new products globally. Also, the detailed voice of the customer has resulted in sharp focus and minimal development iterations. With these skills, Aventose plans to break even within first year of product launch.”
Aventose, currently bootstrapped and funded by family and friends, is looking to raise $2 million seed funding. These funds will be used to scale the workforce and to set up a manufacturing capacity of 12,000 e-scooters. Infrastructure will be expanded post traction with eventual ambitious target to capture 5% 2-wheeler Indian market by 2026. Products are designed considering APAC, European, African, and Latin American requirements and will be launched there in 2022.
“In the last 50 years, earth has lost 68% of wildlife, 85% wetlands and in last 20 years 4% glacier volume (267 billion tons of ice per year). The world must slash its carbon emissions in half by 2030 to prevent world’s ecosystem collapse. Aventose vision is to exponentially increase electric mobility adoption to mitigate climate change, we have combined our ambitious financial targets with equally ambitious climate responsibility goals,” said Vilas Tank, who has been part of Al Gore’s Climate reality project since 2019.
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