e-Sprinto - Co-Founder & Director Mr. Atul Gupta Shares Insights on Navigating EV Industry Trends
Year End Stories
StartupTalky presents Recap'23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The electric vehicles industry is at a nascent stage in India. It is less than 1% of the total vehicle sales however has the potential to grow to more than 5% in a few years.
The EV-Ready India dashboard has projected an impressive 45.5% Compounded Annual Growth Rate (CAGR) in electric vehicle sales between 2022 and 2030, indicating a substantial surge from the 6,90,550 electric two-wheelers (E2Ws) sold in 2022 to a staggering 1,39,36,691 E2Ws expected to hit the Indian roads by 2030
In a recent Recap'23 interview, we at StartupTalky had the privilege of connecting with Atul Gupta, Co-Founder & Director of e-Sprinto. We explored how the e-Sprinto industry is revolutionizing the EV industry by analyzing its development, innovations, insights, and future strategies.
StartupTalky: What does e-Sprinto company do? What was the motivation/vision with which you started?Mr. Atul Gupta: At e-Sprinto, our core aim revolves around transforming India’s electric two-wheeler sector through the provision of top-notch, cost-effective, and eco-friendly electric scooters. The inception of e-Sprinto was driven by a profound conviction in the capacity of electric vehicles (EVs) to pave the way for a more sustainable future. With over 38 years of experience in the automobile industry and a background at Yamaha, Suzuki, and TVS, I, along with my co-founders Vinod and Shalu Gupta, envisioned e-Sprinto as a brand that not only delivers top-quality electric two-wheelers but also upholds ethical values and sustainability. Our mission is to provide reliable, performance-oriented, and sustainable products while fostering trust and satisfaction among our customers, ultimately establishing e-Sprinto as a leading name in the Indian EV industry.
StartupTalky: What is/are the USP/s of e-Sprinto products?
Mr. Atul Gupta: e-Sprinto takes pride in several unique selling propositions (USPs) that set our electric scooters apart in the market. First and foremost, our commitment to affordability and sustainability makes e-Sprinto stand out. Our electric scooters are attractively priced, coupled with a low energy consumption of just 1.5 units per charge, making them a cost-effective and eco-friendly choice for riders. Additionally, we prioritize user experience, ensuring our scooters are designed with precision, comfort, and manoeuvrability, tailored to the demands of Indian traffic conditions. The diverse range of models, including the e-Sprinto, e-Sprinto BB, Roamy, Rapo low-speed scooters, and high-speed scooters like the e-Sprinto HS and Amery, cater to various customer preferences. This commitment to innovation, combined with state-of-the-art technology and rigorous quality assurance, positions e-Sprinto as a standout brand in the electric two-wheeler market.
StartupTalky: How has the industry you are in changed in recent years and how has the e-Sprinto company adapted to these changes?
Mr. Atul Gupta: The electric vehicle industry has witnessed a remarkable transformation in recent years, projected to achieve a compelling compound annual growth rate (CAGR) of 94.4% from 2021 to 2030. At e-Sprinto, we’ve adeptly navigated industry changes by remaining agile and responsive to evolving trends. In the face of growing technological advancements, shifting consumer preferences towards eco-friendly solutions, and supportive government policies fostering sustainable transportation, we’ve strategically positioned ourselves. Recognizing the surge in demand for electric scooters, we’ve expanded our product range to cater to diverse consumer needs. Rapid progress in battery technology and charging infrastructure has been actively integrated into our offerings, ensuring that our electric scooters reflect the latest innovations. Moreover, aligning our strategies with the changing regulatory landscape has been instrumental, in allowing us to stay competitive and innovative in the dynamic electric two-wheeler market.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the EV industry? Can you share examples of how staying informed about industry trends has influenced the e-Sprinto product roadmap and business strategy?
Mr. Atul Gupta: Remaining at the forefront of industry trends is crucial at e-Sprinto. We adopt a comprehensive approach, involving ongoing market research, active participation in industry events, and engagement with industry publications and forums. This dedication to staying informed significantly shapes our product roadmap and business strategy. For example, the rising demand for eco-friendly mobility led to the expansion of our electric scooter range. Furthermore, advancements in battery technology and charging infrastructure trends have guided the integration of innovative features, ensuring our products stay aligned with the latest industry developments.
StartupTalky: What key metrics do you track to check the e-Sprinto growth and performance?
Mr. Atul Gupta: At e-Sprinto, we monitor several key metrics to gauge our company’s growth and performance. These include sales volume and revenue growth, market share expansion in targeted regions, customer acquisition and retention rates, dealership network expansion, and customer satisfaction scores. Additionally, we closely track operational efficiency metrics such as production yield, inventory turnover, and supply chain efficiency. These key performance indicators help us assess our progress, make informed decisions, and fine-tune our strategies to achieve sustainable growth and maintain our competitive edge in the electric two-wheeler market.
StartupTalky: What were the most significant challenges e-Sprinto company faced in the past year and how did you overcome them?
Mr. Atul Gupta: In the past year, we encountered notable challenges in the form of increased competition and negative sentiments among dealers associated with certain brands. To overcome these hurdles, our company strategically focused on two pillars: an unwavering commitment to product quality and a robust after-sales service. By prioritizing these aspects, we not only differentiated ourselves in a crowded market but also built trust among dealers, fostering positive relationships. This approach not only addressed the challenges posed by non-serious players in the industry but also positioned e-Sprinto as a reliable and quality-focused brand in the electric two-wheeler market.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Mr. Atul Gupta: Our marketing strategies at e-Sprinto are diverse, incorporating digital platforms, social media, and targeted online campaigns to create brand awareness. Collaborations with influencers, strategic partnerships, and participation in relevant events contribute to our visibility. One notable growth hack involved a rapid expansion of our dealership network. In a single day, we unveiled 26 dealership showrooms, a strategic move that not only increased our geographic presence but also garnered positive industry acceptance. This approach facilitated a broader market reach, enhanced accessibility for customers, and contributed to the positive response to our electric scooters.
StartupTalky: What are the important tools and software you use to run your business smoothly?
Mr. Atul Gupta: At e-Sprinto, we utilize a range of tools and software to streamline our operations. We leverage Customer Relationship Management (CRM) software to manage customer interactions and relationships effectively. Additionally, Enterprise Resource Planning (ERP) systems aid in integrating various business processes, enhancing efficiency in managing finances, inventory, and procurement. For our marketing efforts, we rely on analytics tools to track campaign performance and social media management platforms to engage with our audience. Moreover, logistics and supply chain management software ensure smooth coordination in sourcing materials and delivering finished products to our dealerships across regions. These tools collectively contribute to the seamless functioning of our business processes.
Niku Mandal
StartupTalky: What opportunities do you see for future growth in the EV industry in India and the world? What kind of difference in market behaviour have you seen within states in India?
Mr. Atul Gupta: In the electric vehicle industry, both domestically and globally, significant growth is anticipated, fueled by rising environmental consciousness, governmental backing, and technological progress. Opportunities abound in diversifying our product range, investing in sustainable technologies, and entering emerging markets. In the Indian context, there are discernible variations in market behaviour among states. Progressive states, equipped with robust charging infrastructure and supportive policies, exhibit higher EV adoption rates. Regions with proactive government incentives and a strong emphasis on sustainability, present more favourable market dynamics than states with slower regulatory support and infrastructure development. This understanding guides our strategies for effective market penetration.
StartupTalky: What lessons did the e-Sprinto team learn in the past year and how will these inform e-Sprinto future plans and strategies?
Mr. Atul Gupta: In the past year, our team learned the value of adaptability and resilience in a dynamic market. We understood the importance of prioritizing customer-centric approaches, focusing on product quality, and fostering robust after-sales services. These lessons emphasize our commitment to maintaining high standards, agility in responding to market changes, and the imperative to enhance customer satisfaction. Moving forward, these insights will guide our future plans, reinforcing our dedication to innovation, service excellence, and sustainable growth in the electric vehicle industry.
StartupTalky: How do you plan to expand the Customers, product, and team base in the future?
Mr. Atul Gupta: Our expansion strategy revolves around a multi-faceted approach. To expand our customer base, we aim to enhance brand visibility through targeted marketing, strategic partnerships, and a continued focus on product quality and innovation. For product expansion, we plan to diversify our portfolio with new models that cater to evolving consumer needs. Regarding the team, we are actively recruiting top talent and fostering a dynamic work environment to support our growing operations.
StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship?
Mr. Atul Gupta: My advice to aspiring entrepreneurs is to nurture resilience. Entrepreneurship is a path laden with challenges, setbacks, and uncertainties. Resilience empowers you to rebound from failures, adapt to changes, and remain dedicated to your vision. Embrace lessons from every experience, build a supportive network, and recognize that setbacks are stepping stones to success. A resilient mindset not only aids in navigating challenges but also cultivates the perseverance required to transform entrepreneurial dreams into reality.
Explore more Recap'23 Interviews here.
Himangi Khare
Must have tools for startups - Recommended by StartupTalky
- Convert Visitors into Leads- SeizeLead
- Manage your business smoothly- Google Workspace
- International Money transfer- XE Money Transfer
