Startup Circle: Oben Electric Leading India’s EV Revolution Globally

Oben Electric, founded in August 2020 in Bengaluru, is an R&D-driven company specializing in the design and manufacture of performance electric motorcycles and critical EV components in India. With a team of experts boasting over 25 years of collective experience in EV R&D, Oben Electric focuses on “Design in India for the World.” The company is transforming India’s electric two-wheeler market with groundbreaking innovations, including advanced LFP battery chemistry for enhanced safety and range. Holding over 25 patents, Oben Electric aims to lead the global electric motorcycle market and revolutionize electric mobility.

Madhumita, a seasoned entrepreneur with over seven years in the EV industry, drives the company's growth and vision. She has previously built a successful multi-million-dollar company in Technology Research & Consulting. Her achievements include awards like 'Woman Business Leader of the Year' and 'Clean Mobility Leadership 2022.

Join us as we spoke with Madhumita Agrawal, Founder and CEO of Oben Electric, to discuss the startup's founding vision, her entrepreneurial journey, and the groundbreaking initiatives that Oben Electric has undertaken to transform India's electric two-wheeler landscape. Oben Electric, based in Bengaluru, leads the way in advanced electric motorcycle technology in India, with a mission to revolutionize the global market.

What inspired you to start Oben Electric, and what is the founding vision of the company?

Oben Electric was founded in August 2020, inspired by India's dominant position in the global two-wheeler market, where motorcycles command a 68% share. Recognizing the vital role motorcycles play in daily commuting for Indian households, we strategically responded to the growing demand for electric motorcycles, especially in the 150cc segment. Powered by a team of passionate technologists with over 25 years of collective experience in electric two-wheelers and their critical components, we quickly established ourselves as a leading R&D-driven company.

Specializing in designing, developing, and manufacturing electric motorcycles, along with essential components like batteries, motors, home fast chargers, and vehicle control units, we are committed to delivering sustainable transportation solutions amid escalating fuel costs and favourable government policies promoting EV adoption. In March 2022, we marked a significant milestone with the launch of our flagship model, the Oben Rorr, from our state-of-the-art facility in Jigani, Bangalore.

Positioned competitively against traditional ICE alternatives in terms of affordability and performance, the Oben Rorr underscores our dedication to making high-performance electric motorcycles accessible across diverse markets. Starting in Bangalore, we rapidly expanded to Delhi, Pune, and Kerala, with the ambitious goal of selling 15,000 bikes nationwide and opening 50 new showrooms in 12 cities by the end of the year. Our direct sales model is strengthened by comprehensive after-sales support and a planned network of 300 touchpoints within three years, as we set our sights on international expansion.

Can you elaborate on the significance of the "Design in India for the World" philosophy for Oben Electric?

As a homegrown brand, the "Design in India for the World" philosophy is not just a statement but a core guiding principle that underpins our entire business strategy and product development ethos. We are deeply committed to designing, innovating, and manufacturing advanced electric motorcycles and critical components right here in India. This approach enables us to glean invaluable insights into the distinct requirements of Indian consumers and local road conditions, ensuring our products are meticulously tailored for our domestic market while meeting rigorous international standards of quality, performance, and reliability.

Beyond fulfilling local demand, "Design in India for the World" exemplifies our aspiration to compete globally. We are determined to showcase Indian ingenuity and technological prowess by exporting our electric motorcycles to international markets in the near future. Moreover, "Design in India for the World" aligns with broader national goals of promoting India as a hub for high-tech manufacturing and innovation in sustainable mobility. It reinforces our contribution to the ‘Make in India’ initiative, fostering local employment and driving economic growth through indigenous manufacturing capabilities.

Oben Electric is known for its advanced battery technology. Can you explain the pioneering LFP chemistry and its benefits?

At Oben Electric, we are the first in India's motorcycle segment to leverage advanced battery technology, specifically our pioneering use of LFP chemistry in our electric vehicles, such as the flagship Oben Rorr. This technology marks a significant advancement in the electric vehicle industry, offering double the battery life, 50% higher heat resistance, and enhanced safety attributes due to the absence of nickel and cobalt. LFP batteries are distinguished by their exceptional stability even under extreme conditions, minimizing risks like thermal runaway and ensuring utmost safety for our riders. Beyond safety and longevity, LFP batteries excel in thermal management, making them ideal for high-performance applications like our electric motorcycles.

Their robust construction allows for higher tolerance to overcharging and deep discharging, enhancing reliability and efficiency. From a sustainability perspective, LFP batteries are environmentally friendly, as they contain no cobalt, a mineral often associated with ethical concerns in mining practices. This composition aligns with our commitment to reducing our environmental impact, providing customers with a greener alternative to conventional petrol-powered vehicles.

What are some of the groundbreaking initiatives that Oben Electric has undertaken to transform India's electric two-wheeler landscape?

At Oben Electric, we've embarked on a transformative journey to redefine India's electric two-wheeler landscape with groundbreaking initiatives. Recognizing motorcycles as integral to Indian households, we've elevated the design, performance, agility, and maneuverability of electric bikes, surpassing traditional ICE vehicles for an unparalleled riding experience. Addressing the pervasive issue of range anxiety, our bikes boast a best-in-class range (187 IDC), tailored perfectly for daily commuting needs. Introducing industry-first home fast chargers has revolutionized convenience, making refueling as easy as charging at home. Safety remains paramount with our advanced LFP chemistry batteries, offering higher heat resistance and extended cycles, ensuring robust performance and peace of mind for riders.

Beyond technology, our immersive showrooms in Bangalore, Delhi, Pune, and Kerala not only showcase our products but also educate consumers about the myriad benefits of electric mobility, enhancing their purchasing journey. Our commitment to in-house development allows us to deliver superior quality at competitive prices, addressing the cost sensitivity of Indian consumers effectively. As we continue to innovate and expand our footprint, Oben Electric is driving the future of electric mobility in India with passion and purpose.  Start with First groundbreaking – design develop, manufacturing all the critical EV components;

What strategies are you implementing to position Oben Electric as a top electric motorcycle OEM globally?

At Oben Electric, our strategy to establish ourselves as a leading global OEM in electric motorcycles is multifaceted and strategic. Central to our approach is our relentless focus on innovation and product excellence, driven by extensive R&D efforts. It was our four years of dedicated research that culminated in the launch of our flagship model, the Oben Rorr, a 150cc ICE comparable motorcycle. This achievement highlights our capability to swiftly translate concepts into road-ready vehicles, setting new industry benchmarks for speed-to-market. To solidify our position, we are initially concentrating on dominating the expansive Indian EV market. Our comprehensive approach includes rapid expansion with 50 new showrooms slated across 12 cities by year-end and a strategic goal of 300 touchpoints nationwide within three years.

This growth is facilitated by our state-of-the-art 3.5-acre manufacturing facility in Jigani, Bangalore, ensuring scalable production to meet escalating demand. key to our strategy is the vertical integration of manufacturing critical EV components in-house, enabling us to uphold superior quality standards and competitive pricing. Beyond product excellence, we are enhancing the entire customer journey with a robust distribution network and comprehensive after-sales support infrastructure.

Our immersive experience centres serve as hubs not only to showcase our innovations but also to educate and engage with EV enthusiasts, fostering a community around sustainable mobility. Looking forward, our success in the Indian market will serve as a launchpad for international expansion. Leveraging our proven track record in product innovation, quality manufacturing, and customer-centric initiatives, Oben Electric is poised to introduce our advanced electric motorcycles to global riders, reshaping the future of mobility worldwide.

What measures does Oben Electric take to ensure that its products and processes are environmentally friendly?

At Oben Electric, sustainability is woven into the very fabric of our operations, driving us to innovate and lead in the electric motorcycle industry. Central to our commitment is our flagship model, the Oben Rorr, which showcases cutting-edge LFP cell technology in its battery packs. These batteries not only enhance performance with twice the lifespan and superior heat resistance but also contribute significantly to reducing greenhouse gas emissions and pollutants compared to traditional motorcycles. To date, we have saved 10,849 kg of CO2 emissions through the kilometers driven by our customers. By the end of the year, with additional bikes on the road, we anticipate saving a total of 37,96,000 kg of CO2.

By adopting LFP technology, we not only boost performance but also avoid the environmentally damaging mining of Cobalt and Nickel. Furthermore, we ensure that our batteries have a second life through dedicated recycling programs, repurposing them for energy storage systems. Our sustainable approach extends to the entire production lifecycle, where we employ lean manufacturing practices, choose eco-friendly materials, and use responsible packaging to minimize waste.

Our closed-loop aluminum management system exemplifies our dedication to sustainability by returning waste directly to vendors, thus lowering energy consumption and reducing our environmental footprint. We partner with suppliers who share our sustainability ethos, ensuring that materials are sourced responsibly and manufactured with environmental consciousness. Transparency is key, and we educate consumers on responsible EV ownership, including proper battery care and disposal. Moreover, we champion renewable energy and sustainable practices, actively engaging in industry forums and events to promote the benefits of electric vehicles and the critical need to reduce fossil fuel dependence and greenhouse gas emissions.

Oben Electric raised ₹40 crore in an extended Pre-series A round. How will this funding be utilized to further the company's goals?

Since inception, the company has infused around USD 14 Million to develop the product, critical components, testing, approvals, manufacturing set up with integrated facilities with corporate, R&D, vehicle assembly line, motor assembly, battery assembly and other components. We have also invested in distribution networks across major cities like Bangalore, Delhi, Pune and Kerala. As we rapidly enter new cities and deepen our market penetration, these funds will support the establishment of additional showrooms across key locations. Concurrently, we are ramping up our manufacturing capacity to meet the increased demand generated by our expansion efforts. This proactive investment ensures we maintain our momentum and deliver on customer expectations. Furthermore, we are intensifying our research and development efforts to innovate and enhance our product lineup, reinforcing our technological leadership in the electric mobility sector. Strengthening our supply chain remains a critical focus to ensure seamless access to essential components. Additionally, investing in top-tier talent across engineering, sales, and customer service is crucial to supporting our ambitious growth plans. Strategic marketing initiatives will amplify brand awareness and educate consumers about the benefits of electric vehicles. Moreover, we've allocated resources for working capital to maintain operational efficiency as we scale our operations.

With the start of Oben Electric bike deliveries in July 2023, what feedback have you received from customers, and how are you addressing it?

Since launching deliveries of our Oben Electric bikes in July 2023, we've experienced an incredible surge in demand, which speaks volumes about the reception from our customers. Riders are particularly thrilled with the Oben Rorr's exceptional performance, boasting impressive acceleration from 0 to 100 km/h in just 3 seconds and a top speed of 100 km/h. The smooth and quiet operation has consistently exceeded expectations, enhancing the overall riding experience, while the impressive 187 km range (IDC) ensures ample coverage for daily commuting needs.

The sleek and modern design of our bikes has garnered enthusiastic approval, especially among young riders who appreciate its head-turning aesthetics. Beyond looks, customers have highlighted the outstanding value proposition of our electric bikes, noting significantly lower running costs compared to traditional petrol motorcycles. Our bikes use only a 4-5 kW unit of electricity for a full charge, making them ten times more cost-effective than their ICE counterparts. With fast charging capability allowing 0-80% in just 2 hours and a ground clearance of 200mm, our bikes are designed for practicality and comfort on Indian roads.

The build quality and reliability of our vehicles have also been highly praised, providing riders with confidence and peace of mind. Most gratifyingly, we've seen a notable increase in referrals from satisfied customers, a testament to the trust and satisfaction our products inspire. Many new buyers have joined the Oben Electric community through recommendations from friends and family, reinforcing the strong bond and community we are building. In addition to our superior product offerings, we are committed to providing exceptional service, including roadside assistance, ensuring our customers' needs are comprehensively met.

How do you see the electric mobility landscape evolving in the next 5-10 years, and what role do you envision for Oben Electric in that future?

The future of transportation is electric, and the two-wheeler segment is set to lead India's shift towards electric mobility. By 2030, it's predicted that 50-60% of two-wheeler demand will be electric, driven by environmental awareness and supportive government policies. Oben Electric is uniquely positioned to cater to this growing demand, focusing on the motorcycle segment. Our flagship model, the Oben Rorr, offers high performance and long-range capabilities, making it an ideal choice for eco-conscious consumers.

Oben Electric is leveraging cutting-edge technology and extensive R&D to develop next-generation batteries with greater energy density and faster charging times. We are also exploring advanced materials and lightweight designs to enhance performance and efficiency. To support the anticipated growth in electric mobility, Oben Electric plans to establish 300 touchpoints nationwide within the next three years, ensuring we meet growing consumer demand and provide excellent after-sales support. Our commitment to innovation, strict quality control, and competitive pricing makes our electric motorcycles accessible to a broader audience.

As consumer awareness and adoption of electric vehicles grow, so will the need for a seamless customer experience. Oben Electric is dedicated to providing unparalleled customer service, including roadside assistance and immersive experience centres. This strategic focus ensures that Oben Electric is not only participating in the future of electric mobility but actively shaping it.

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