Democratising Light Electric Vehicles Via Innovative Mobility Solutions
The Brain Behind an Admirable Company 2024
We’ve seen many ‘EV startups’ come and go but not many smart mobility tech startups. So far, most are focused on the electrification part of the equation. Next-gen automobiles are basically electronic consumer gadgets on wheels. While it is understandable that the EV and infotainment part steals the media limelight, we cannot simply ignore the core purpose of an automobile. To move forward in a safe, smart, and sustainable way!
We came across a modern-day entrepreneur who wants to bring some of the attention back to the core of an automobile. Sravan Kumar Appana is driven by his innovative and purpose-driven approach to revamping the smart mobility segment with his venture, iGo Wise Mobility Pvt. Ltd. He is a leader who has a steady focus on using technology to enable value creation, and he is the emerging force in the democratization of the light EV space. His venture is poised to make a huge impact on both urban and rural mobility in the fast-developing markets across the world.
We applaud the potential of his unique solutions and influential leadership that aspires to reshape how we envision the next phase of transportation. Let’s unpack what he shared with us via an insightful conversation held with our team. We can assure you that this read will provide you with some extraordinary industrial insights and valuable nuggets of entrepreneurial wisdom.
Company Profile and Vision
As the CEO of iGo Wise Mobility, Sravan Appana explained that the organization is a deep-tech, smart mobility startup that has an intrinsic mission to navigate the world in a more dignified & energy-efficient manner. At its core, his team is focused on creating next-generation mobility technology solutions tailored to the needs of an evolving world.
Traditional automobiles pose significant challenges for short urban commutes. Many women and elderly individuals struggle with balancing two-wheelers while using only cars is incredibly cumbersome for quick trips within the city. This desperate compromise with risky two-wheelers, especially on uneven roads, underscores the need for dignified mobility solutions.
The venture has the vision to reduce the environmental and socio-economic impact generated by bulky automobiles. As Bharat is rapidly progressing economically, all set to become a 10 trillion dollar economy in a decade, just imagine millions of new cars on our already congested roads. Whether these are diesel or electric, we are all still stuck in the same traffic congestion! We simply cannot copy-paste the models of the Western world which have already demonstrated deep cracks!
What led to the foundation of the company?
We asked Sravan to share the motivation that allowed him to establish his dream venture. To which he responded that he returned to India to pursue business education at the Indian School of Business leaving behind a high-paying software job overseas. Back home, the biggest frustration for a city resident caught his attention: the daily traffic conditions consuming hours of people’s lives. As he was experimenting with several ways to mitigate this complex.
sticky problem, he happened to meet Suresh Salla, a hardcore engineer and a veteran in the public mobility space. Together, they joined hands in the middle of the pandemic towards their common mission to enable dignified mobility for the emerging world markets using technology!
“Smart mobility technologies offer far more than just electrification. While electric motors are more efficient than petrol engines, electrification alone won’t solve issues like traffic congestion, and high transportation costs. Inefficient use of large vehicles for small tasks and safety concerns, especially for families, remain totally unaddressed. Truly sustainable solutions must optimize vehicle size, ensure safety, and improve comfort.
By reducing payload per trip and boosting productivity, transportation can become far more eco-friendly and at the same time drive equitable economic progress. People will adopt green technologies if they address immediate concerns like safety and efficiency. Our goal is to provide comprehensive tech solutions that accelerate the adoption of truly sustainable vehicles,” says Sravan Kumar Appana
One-of-a-kind product line
The core of iGo Wise Mobility’s innovation lies in its proprietary twin-wheel technology. This narrow tilting trike(NTT) is a crossover hybrid, built on their patented light EV platform, and is designed to offer the agility and speed of a two-wheeler with the stability and capacity of a three-wheeler. The very first product that is creating ripples in the market is BeiGo X4, a swift, agile vehicle with high torque and unparalleled road grip suited for the urban jungle.
It is a rugged utility vehicle that has better capacity, comfort, and road grip than a typical two-wheeler. It comes with improved safety, drastically reduced fatigue, and is easier to access irrespective of age and gender.
Sravan elucidated the X-factors of his innovation: “The BeiGo X4 is the world’s first twin-wheeled motorcycle, legally classified as a motorcycle despite clearly having three wheels. This unique classification allows it to be ridden with a two-wheeler license and parked in two-wheeler spaces. This specialty makes it suitable for the emerging world, where space and licensing constraints are the major problems. Plus, it is easy for any individual to balance it while riding on rough roads!! It’s the only small format vehicle in the world with a multi-wheel drive powertrain!
At iGo, the focus is on Smart Efficient Mobility, catering to diverse needs such as farmers transporting surplus produce, beauticians offering home deliveries, or photographers carrying expensive equipment. ” They have received the necessary certification from both the central and state government transport authorities and are all set to launch in the market after 4 years of intensive R&D.
For a start, the product is available make-to-order in the B2B organized logistics space, where they have been doing pilots with Big Basket, Amazon, and Zomato. Soon, the product line will be available for the B2C retail market as well on a unique pay-as-you-go subscription basis, starting at just 1 rupee per KM to make it more accessible to all.
A significant myth today is that Indian consumers prioritize cost over value. That unnecessarily created an influx of cheap unreliable imported vehicles in the market a couple of years back. This is entirely inaccurate. “Consumer preferences are rapidly evolving, and most Indians seek value for money rather than just the lowest-cost option.
For instance, while budget phones under 10,000 Rupees are available, the best-selling mobile category is above 25,000 Rupees. Similarly, in the automobile sector, SUVs are the top sellers, indicating a preference for value, quality, and upgraded lifestyles”, says Sravan Kumar Appana.
Indians desire reliability, comfort, and safety, and they’re willing to invest in products that offer these attributes. This trend is clearly evident in urban markets but even more so in rural markets, where consumers are ready to pay better premiums for higher functional and social value.
Generating market impact with tech inclusivity
Sravan is a tech enthusiast, for sure. He has a great fervor for technologies that have supported his cause and mission so far. He notes that while current trends often focus on AI and advanced connectivity, we have forgotten the role of fundamental automobile technology that needs our ceaseless attention.
The twin-wheel platform developed by the iGo team is path-breaking in more than one way. Compared to the existing European and Japanese trike technologies, this is far more compact, efficient, and affordable. This innovation has allowed them to create a compact vehicle that is fast, agile, and stable at just a fraction of the cost of its counterparts. It allows for on-demand self-balancing without using expensive and energy-draining gyroscopes! That is truly unbelievable.
The company’s modular platform allows for rapid and cost-effective development of new vehicle models, enabling other original equipment manufacturers (OEMs) to build on their technology three times faster and cheaper than traditional methods. This modularity is key to his vision of democratizing the light EV space and making Bharat the de facto leader in small-format EVs.
Leadership Ethos
Sravan’s leadership philosophy is fueled by his purpose-driven motivation and leading by example. He believes in having a relatable, larger-thanindividual mission to rally his team toward a common goal. By demonstrating the values and practicing first-hand the culture he wishes to instill in his organization, Sravan ensures his entire team aligns with the company’s mission.
He draws parallels between leadership and parenthood, emphasizing the importance of catering to the needs & enabling the aspirations of customers, employees, and shareholders in a holistic way. This approach, he believes, leads to a more cohesive and motivated team capable of achieving significant impact.
Future Vision and Ambitions
Sravan envisions ambitious plans for the future. He is targeting addressing the global issue of traffic congestion, particularly in cities, by providing safe, comfortable, and space-efficient vehicles.
Sravan envisions a world where India isn’t just an exporter of services or products but becomes a leader in exporting cutting-edge technology. A strong and consistent emphasis on R&D Innovation is crucial to realize this ambitious goal.
Their goal is to enable hundreds of startups and small players to thrive in the light EV space, creating purposeful brands and distributed micro-factories that can scale rapidly and provide a plethora of manufacturing jobs across the nation. In the upcoming years, he will be focused on both technological innovation and practical implementation. With their business expansion, there will be a transformative wave in urban mobility that will contribute to a more sustainable future.
