Sameer Arif, a Bengaluru native, founded his firm SWYTCHD with a subscription model that allows you to pick an electric car of your choosing at a reduced cost and helps you deal with concerns like range and charge anxiety.
The number of electric cars (EVs) sold in India has increased steadily during the last two years. According to data provided in Parliament by Krishan Pal Gurjar, Minister of State for Heavy Industries, 1.19 lakh EVs were sold in 2020, increasing to 3.11 lakh in 2021 and 4.19 lakh in 2022.
However, much more work is required to meet the government’s aim of totally replacing fossil-fuel cars with electric vehicles by 2030.
Rising gasoline costs create a perfect climate for the use of electric cars. Nevertheless, this is not the case. High upfront prices, range concern, and charge anxiety continue to be barriers to EV adoption, according to Anubhav Kapoor, head of legal affairs at Ford India.
What may be done to mitigate large upfront costs? Of course, provide EVs on a monthly subscription basis.
SWYTCHD is doing just that. Founded in January 2022 by Sameer Arif, the firm offers electric two-wheelers and four-wheelers to users in Bengaluru on a monthly subscription basis.
The 30-year-old worked for Jaguar Land Rover for nearly eight years before opting to launch his own business. His excursions to India, as well as its pollution, served as a wake-up call for the entrepreneur while working in London.
Being a member of the automobile business, he was intimately aware of the changes in car adoption in the United Kingdom. Sameer experienced his “aha!” moment when subscription models became popular in the United Kingdom and North America.
According to Sameer, an EV is 30-50% more expensive than a gasoline or diesel car.
SWYTCHD offers insurance, service, maintenance, billing reimbursements, and breakdown assistance. The monthly membership for an electric two-wheeler ranges from Rs 3,999 to Rs 5,500. A four-wheeler membership costs Rs 30,000 per month and may be upgraded to Rs 60,000 per month.
SWYTCHD has deployed 130 electric cars on Bengaluru’s roadways in the last 11 months. Sameer claims that their renewal rate is 95%, and that there are many individuals on the queue.
He founded the firm with Rs 1 crore of his own money and is currently soliciting funding. Some of the cars in their fleet are owned by them, while the others are leased or financed.
In terms of automobiles, they have the TATA Tigor EV, Nexon EV, Hyundai Kona, and MG ZS EV. They have Ola, Ather, Revolt, Bounce Infinity, and Hero two-wheelers. They intend to offer more economical automobiles from Original Equipment Manufacturers (OEM) in the near future.
The business also addresses the two main barriers to EV adoption: charging and range anxiety.
Likewise, electric car manufacturers and state governments are collaborating to increase the number of charging stations in key cities. In August, Transport Minister Kailash Gahlot stated in Delhi that the government has set an aim of one charging outlet per 3 kilometres. EVs also have cheaper maintenance costs than internal combustion engine (ICE) automobiles.
According to the report, a 40-kilometer drive in a petrol car would cost Rs 15,000-18,000 at a petrol price of Rs 100. For the same distance, an electric automobile would cost Rs 3,000 per month, representing an 80% savings.
SWYTCHD intends to expand to more cities in South India and have 1,000 more electric vehicles on the road within the next year. Despite their high running expenses, Sameer claims that they have favourable unit economics.
