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New Delhi, Mar 13 () MG Motor India on Friday said it has shortlisted Driftly Electric, a smart EV charging solutions provider, under its developer program and grant for support. Launched in January 2020, Driftly will receive grant to further expand its services through a peer-based ecosystem approach. The start-up helps electric vehicle (EV) owners to find nearby charging points through a multi-platform app by connecting EV users to charging points set up by private individuals, MG Motor India said in a statement. The charging point owners can earn revenue as users come to charge their EVs. This helps in easier monetisation for owners of EV charging points, thus bridging a major need-gap in the Indian EV market. Commenting on the development, MG Motor India President &amp; Managing Director Rajeev Chaba said, "Through this grant, we are looking forward to supporting its growth, as it is in sync with our long-term vision of catalysing India's nascent EV market by creating an end-to-end and well-integrated charging ecosystem." The aim behind the MG Developer Program &amp; Grant is to support and accelerate the evolution of the ecosystem of smart mobility in Indian automotive landscape by bringing innovative ideas and solutions to the fore, he added. Driftly Electric co-founder Sneha Roy said the lack of a reliable and versatile charging network is the most prominent hurdle to faster EV adoption in India. "Driftly aims to address this need-gap by adopting a peer-based approach that helps hosts monetise their existing charging points while allowing EV owners to seamlessly discover charging locations close to them," she added. RKL RVK

MG Motor India to provide grant to EV charging solutions provider Driftly Electric

<ul><li><keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> is the new kid on the block that has emerged as a challenger to <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> with 120 mn users</li><li>Aims to bring 100 mn small sellers across India online</li><li>The newly minted unicorn is looking at going public in less than two years after it turns profitable.</li></ul>Shaan Ansari is a 19-year old entrepreneur who lives in the historic city of Panipat, 100 kms north of Delhi, and he may never qualify for any list celebrating under-20 entrepreneurs, but his story is no less inspiring than Ranveer Singh’s character in Gully Boy. The pandemic put his father out of work and Ansari out of school back in 2020. When crisis struck, Ansari went scouting for opportunities online that would require zero investment and he found it in Meesho, a social commerce platform that is designed to help solo entrepreneurs and small businesses sell their wares to a wider audience. Ansari sourced bath mats and door mats made locally and started selling them on Meesho. When his suppliers could not meet the demand, Ansari borrowed money to start his own factory. Today he manufactures these mats from a rented factory, employs 50 people and clocks revenues of ₹30 lakh a month. It is transformational stories like Ansari’s that keep Meesho’’s co-founder and CEO Vidit Aatrey and his team going. Recalling his trip to Panipat, Aatrey, says, “The neighbourhood that Ansari lives in is a really humble one and his home actually doubles up as a warehouse. When I visited him, his staff and family offered dry fruits with chai. Ansari kept telling us how his family’s fortunes have changed after he discovered Meesho. As a team we travel every quarter to listen to sellers like Ansari on our platform and are now attempting to solve some of their other financial needs so that they don’t have to go to money lenders for working capital needs.” <div type="image" title="Meesho_1 (1)" height="900" width="1200" msid="93702892" hostid="261"></div> 100 million sellers to reach a billion buyers Aatrey’s dream is to get a million local businesses online so that they expand their markets by selling wares across India, irrespective of where they are located. In the last two years, this new kid on the block has emerged as a challenger to the Big Boys of e-commerce. Meesho - which is a short code for ‘my shop’ - has gotten bigger after the pandemic with 120 million monthly active users (MAUs) in a short span of time. Flipkart and Amazon have 200 million registered users each. Meesho’s target is to have 100 million sellers on its platform and sell to a billion buyers. Meesho was born on the premise that for online commerce to genuinely offer value, local retailers had to go online. Unorganized retail accounts for 90% of India’s spends. But when Aatrey and his co-founder Sanjeev Bamwal discovered that the sellers were not coming online because the buyers were not all shopping online. The pandemic has enabled Meesho to bring a lot more local businesses online as it was a matter of their survival. Challenging Amazon and Flipkart In the early days, Meesho’s sales were driven by 15 million women resellers, who bought products from the platform and sold it through WhatsApp and Facebook groups. From being a social commerce platform driven by re-sellers, it today has a share of nearly 30% in total daily online deliveries. Of the 9 million e-commerce orders processed daily, Meesho accounts for 2.7 million, while the two biggies account for 5 million. Clearly, Meesho is the challenger that nobody expected would catch up with Amazon and Flipkart. Another interesting statistic says that of the 70 million shoppers online, only 10 million are digital natives. It is a no-brainer then that India’s small businesses can provide the network effect to any online commerce platform that chooses to target this segment. Meesho waded into this space back in 2015, but found it tough to convince small entrepreneurs to come online because their customers were not online either. Language barriers and quality of internet speeds were only a few reasons why sellers were not online. Even when they brought sellers online, their buyers were still not online nor was Meesho’s app on too many smartphones. This changed after the pandemic but before that it was Meesho’s army of 15 million women resellers that drove its gross merchandise value up until 2020. Meesho is called a social commerce channel because it has been built by women resellers who found a vocation and economic independence by reselling goods purchased from the platform on WhatsApp and Facebook groups. Between 2017 and 2020, 100% sales were happening through resellers. The share of these women resellers is now down to 20% as consumers have now started downloading the app. Meesho’s monthly average users stand at 120 million and 35 million users transact on the app every month. On an average, 110 million Indian shoppers bought on Meesho last year. Not surprising that investors have also queued up to invest in the company. After raising seed capital of $300,000 from angel investors in March 2016, Meesho is valued at $4.9 bn after its latest round of capital raise of $570 mn in September 2021. Its list of marquee investors include Soft Bank Vision Fund 2, Prosus, Fidelity Management and Research, Yuri Milner’s DST Partners, Sequoia, SAIF Partners and Y Combinator among others. Sellers turn brand ambassadors <div type="image" title="Meesho_2 (1)" height="900" width="1200" msid="93702936" hostid="261"></div> Currently, there are six lakh sellers like Ansari on Meesho and the start-up wants to take this to one million. This goal may be work-in-progress, but every week employees join the Meesho Sabha, a meeting where examples like Ansari are discussed at length so that the team does not take its eyes off the goal post. Even though Meesho continues with its outreach programme to help sellers, existing sellers have now become brand ambassadors who are helping others get online. The platform offers peer-to-peer learning in several languages for those who want to get started. Says Dhiresh Bansal, chief financial officer of Meesho, “We still do our outreach programmes but a lot of people are now coming to our platform, as they need to diversify by targeting newer markets. Also the younger generation is more progressive and are taking their family businesses online.” After its success in the last two years, Meesho’s working hard to resolve several issues of sellers on its platform. Most of these sellers have seen a sharp rise in demand for their products after going online and the need for working capital requirement has gone up sharply. Lucknow-based Suman Agrawal used to sell women’s fashion clothing at her boutique but has shut it down after her brand Rudraksh saw sales boom on Meesho. She currently manages 22,000 orders a month. There are several sellers in India who cannot go online because they don’t have the requisite GST number. Aatrey has been a votary of their cause for a while. In June this year, the GST Council cleared a proposal that will no longer require sellers on e-commerce platforms to have a GST registration, if their turnover is less than ₹40 lakh and ₹20 lakh for goods and services respectively. This rule will come into effect from January 2023. Aatrey believes that this will be a game changer for millions of small sellers across India. While the company is not looking to raise capital immediately, it has plans to turn profitable and then hit the markets in a couple of years. The e-commerce player is looking at tightening its belt on costs now that it has attained scale. If it has to turn profitable in under 2 years then Meesho will have to cut back on cashburn and conserve capital. Aatrey says, “This festive season will give us an indication if there is any slowdown. We have not seen that so far, so it will be something that we will learn from.” <div type="image" title="Meesho_3 (1) (1)" height="900" width="1200" msid="93703012" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-slips-517-points-goes-below-the-60000-mark/articleshow/93701486.cms">Sensex slips 517 points, goes below the 60,000-mark</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/not-just-ev-makers-there-are-many-more-stocks-that-can-gain-from-ev-play/articleshow/93696654.cms">Not just EV makers, there are many more stocks that can gain from EV play</a>

Meet India’s Real Gully Boy: Vidit Aatrey of Meesho is taking the entrepreneurial dream deep inside Bharat

<ul><li>Maruti’s brand, scale, and reach can be a big boost for electric vehicles in India </li><li>Other leaders in the segment, Mahindra &amp; Mahindra and Tata, had already introduced their EV models in the Indian market </li><li>In India, the sale of electric cars has been sluggish with sales dipping in FY 2017-18 </li></ul>Indian automobile giants have forayed into the electric vehicle market with Mahindra &amp; Mahindra taking the lead and acquiring Reva <keyword id="46640" type="ORGANIZATION" weightage="20" keywordseo="electric-car">Electric Car</keyword> Company in 2011. But it’s only now that the country’s largest carmaker looking to throw in its hat into the ring. <keyword id="44883" type="DOMAIN" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> is <a href="https://www.news18.com/news/auto/exclusive-electric-maruti-suzuki-wagon-r-spotted-testing-ahead-of-launch-next-year-1996651.html">reportedly</a> testing the electric version of the good ol’ Wagon R on the Indian roads, although the car will be officially launched in 2020. The launch of Maruti’s electric car will be significant because of the scale that the company brings to the table. Maruti Suzuki saw a domestic sale of 1.3 million until December, 2018 and has over 2000 sales outlets spread across the length and breadth of the country. The brand, with a history of over 37 years in India, has proved that it still has resonance amongst millions of Indians despite the entry of fancy foreign peers. “They might not have the first mover advantage, but the expertise they have is unmatched. Not just distribution, they have a great hold over their brand loyalty and customer development channels, which is also their USP,” said Pranav Jain, an automobile consultant. The pioneer in the segment has been Mahindra &amp; Mahindra with cars like e20, eVerito and eSupro already being commercially sold, while other rivals like Tata finding a foothold in the market with cars like Tata Tigor EV. However, access to these vehicles, recharging stations, and service centres after purchase are crucial factors in the consumers’ decision to purchase. Maruti is a better pick based on these factors than other players because of its existing network in the country. However, the company has taken its time to join the race. Osamu Suzuki, Chairman, Suzuki Motor corporation, during his visit to India for the <a href="https://www.firstpost.com/business/global-mobility-summit-suzuki-motor-corp-to-start-road-test-of-electric-vehicles-next-month-says-chairman-5136281.html">Global Mobility Summit</a> in September had announced that the company will launch 50 EV prototype vehicles in India. The idea behind the testing is to develop safe and easy-to-use EVs for the Indian roads. The Indian Electric Vehicle market saw a growth of 124 per cent with 56,000 units sold in fiscal year 2017-18, but they hold a <a href="https://www.livemint.com/Politics/1x96WeyG6cCVnm5zPcUraK/Govt-proposes-incentives-to-boost-EVsalesin5-years.html">mere 1% </a>of total vehicles sold in India. However, the major share was held by electric two-wheelers with 54,800 units sold reportedly. The sales of electric cars took a mere 1200 units, according to a report done by <a href="https://auto.ndtv.com/news/electric-car-sales-in-india-fall-in-fy18-electric-two-wheelers-record-healthy-growth-1934323">the Society of Manufacturers of Electric Vehicles. </a> Currently, the electric vehicles market in India faces a massive infrastructural problem due to the lack of charging stations (albeit they are slowly coming up in major cities like Bengaluru and Delhi). The government’s delay in bringing about an EV policy too has the industry in a fix. While the entry of big players will give the right impetus to a new generation of cars, the industry will also need a proactive solution from the centre. See Also: <a href="https://www.businessinsider.in/central-govt-has-set-up-a-panel-to-monitor-indigenous-electric-vehicles/articleshow/53595564.cms">Central govt has set up a panel to monitor indigenous electric vehicles</a> <a href="https://www.businessinsider.in/electric-two-wheelers-might-cost-us-less-in-the-near-future/articleshow/53189329.cms">Electric two-wheelers might cost us less in the near future</a> <a href="https://www.businessinsider.in/elon-musk-plans-on-tesla-motors-having-partial-presence-in-india-by-2019/articleshow/66508511.cms">Elon Musk plans on Tesla Motors having ‘partial presence’ in India by 2019</a>

Can latecomer Maruti Suzuki rev up electric car sales in India?

<ul><li><keyword id="6368965" type="UNKNOWN" weightage="20" keywordseo="zoomcar">Zoomcar</keyword> is partnering with <keyword id="6433699" type="UNKNOWN" weightage="20" keywordseo="Ixigo">Ixigo</keyword>, an online travel booking service, to reach its 130 million users. </li><li>Co-found of Ixigo Rajnish Kumar predicts that car rentals with be "one of the biggest travel trends this year." </li><li>The partnership will help Zoomcar meet its goal to double the demand of its services by the end of the current fiscal year. </li></ul>Zoomcar, a self drive car rental service, just announced that it's partnering with Ixigo reach more users while betting on car rentals to be a travel trend this year. The partnership will give Zoomcar access to <a href="https://www.businessinsider.in/50-of-indias-travel-to-beonline-by-2020-ixigo/articleshow/49060256.cms">Ixigo</a>'s 130 million users as well as the latter's 200 million monthly travel searches as users plan their vacation. "Indian travellers are increasingly opting for a holistic and exclusive vacation experience making on-demand car rentals one of the biggest travel trends of the year," stated Co-founder of Ixigo Rajnish Kumar. Zoomcar has 10,000 cars with plans to expand its fleet to 25,000 cars by the end of year. It also plans to double the demand for its services by the end of the current fiscal. Currently, <a href="https://www.zoomcar.com/bangalore/">Zoomcar</a> has 4.8 million users and clocks over 3,000 rides daily. As an incentive, Zoomcar is also offering a launch discount of 20% on bookings through Ixigo. Users can book a Zoomcar for an hour, a day, a week or even a whole month. Car rentals in India While the market for car rentals in India is growing, it's not quite mainstream yet. "Such collaborations, we believe, will pave the way for the mainstreaming of alternative mobility services, ensuring that users get a seamless experience," said Greg Moran, CEO and Co-Founder of Zoomcar. Last year, Zoomcar raised $40 million through Series-C round headed by Mahindra and Mahindra Limited. Sequoia Capital, Empire Angles and Nokia Growth Partners are also a part of the investor portfolio. "We are looking at closing the Series D round by the second half of this year," Moran told<a href="https://www.cnbctv18.com/auto/zoomcar-allows-users-to-try-electric-vehicles-at-short-term-rentals-says-ceo-greg-moran-4052071.htm"> CNBC TV18,</a> Zoomcar started off by owning the cars that it was renting out but switched over an asset light model when it realised that the maintenance and and owning costs were having a heavy impact on its margins. So, the company introduced peer-to-peer (P2P) marketplace called 'ZAP' where users can put up their own cars to be rented by other users on the platform. Even so, Zoomcar registered ₹116 crore in loss during last fiscal year's earnings, according to its financial data filed with the Registrar of Companies. But its revenue also showed a yearly growth of 31% from ₹120 crore in FY17 to ₹158 crore in FY18. Zoomcar is also pushing electric vehicles (EVs) on its platform in partnership with Tata Tigor expressing its support for the Indian government's <a href="https://www.businessinsider.in/india-now-plans-to-make-evs-comprise-15-of-all-vehicles-sales-by-2023/articleshow/65717759.cms">initiative</a> to convert all vehicles to EVs by 2030. See also: <a href="https://www.businessinsider.in/ola-will-race-zoomcar-in-self-drive-car-rentals-with-a-500-million-bet/articleshow/68614269.cms">Ola will race Zoomcar in self-drive car rentals with a $500 million bet</a> <a href="https://www.businessinsider.in/self-drive-car-in-india-will-supersede-high-volume-sales-of-cars-heres-how/articleshow/60100149.cms">Self-drive car in India will supersede high volume sales of cars. Here's how.</a> <a href="https://www.businessinsider.in/flipkart-amazon-zomato-partner-with-delhi-government-to-deliver-via-electric-vehicles/articleshow/69968501.cms">Flipkart, Amazon, Zomato and others partner with Delhi government to deliver via electric vehicles</a>

Zoomcar eyes a shortcut to 130 million users — partners with Ixigo

<ul><li>American car maker Ford may form a partnership with Indian car maker M&amp;M, Reuters said citing sources.</li><li>India's third-largest car maker M&amp;M is likely to own 51% stake in the venture and Ford may own the rest.</li><li>The two companies came together for the first time in 2017 to build SUVs and electric cars.</li><li>Ford would add 14,000 employees, two plants to M&amp;M and both companies had similar sales in 2018.</li><li>In 2018, Ford's India division swung to profit for the first time in eight years.</li></ul>American car maker Ford's solo drive in India is likely to end. The company may form a joint venture (JV) with the Indian conglomerate, Mahindra &amp; Mahindra, according to a report citing sources from news agency Reuters. Both companies have refused to confirm Reuters' report that said M&amp;M will own 51% stake in the JV, while Ford will own the rest. If this stake sale goes through, this will be a milestone in the history of the Dearborn, Michigan-based company that entered India nearly 25 years ago. "Since its entry in India in 1995, Ford has invested more than US$ 2 billion to expand its manufacturing facilities and sales &amp; service footprint to meet the demand in one of the world's fastest-growing auto markets," according to its website. M&amp;M, on the other hand, is the country's <a href="https://economictimes.indiatimes.com/industry/auto/auto-news/three-launches-help-mm-retain-third-spot-in-passenger-vehicle-sales/articleshow/68770337.cms" data-type="tilCustomLink" target="_blank">third-largest passenger vehicle</a> maker, whose automotive business spans from sports utility vehicles (SUV) to tractors and buses, from heavy engines to electric cars. The company bought over Korean peer Ssangyong in 2011 and an Italian graphic design firm in 2008. However, the country's automobile industry has been reeling under pressure from slowing car sales in recent months. What M&amp;M gets... Most importantly, in 2018, Ford's India division <a href="https://m.economictimes.com/industry/auto/auto-news/ford-motor-india-drives-into-profit-zone-after-eight-years/articleshow/66453826.cms" data-type="tilCustomLink" target="_blank">swung to profit</a> for the first time in eight years. About 85% of the components are locally sourced. Ford has integrated manufacturing facility at Maraimalai Nagar, near Chennai, produces its popular models like Ford EcoSport and Ford Endeavour. It also has, according to the company, a "$1 billion state-of-the-art integrated manufacturing facility in Sanand, Gujarat," which became operational in March 2015. M&amp;M has 16 plants dotted across the country. The annual installed manufacturing capacity is 610,000 engines and 440,000 vehicles. <a data-type="tilCustomLink" target="_blank">Total sales</a> for the year-ended December 2018 were at 265,714 units, just marginally up from a year earlier. In the same time, M&amp;M sold over 250,000 vehicles, including exports. Ford has more than 376 sales and service outlets in 209 cities across India. It will also bring to the table 14,000 employees. The synergies Just like Ford, M&amp;M's top-selling brands are SUVs and that segment is in a tight spot. While the demand is weak, emission norms are scheduled be tightened next year and that would make diesel cars, especially the gas-guzzling SUVs less attractive. Coming together would reduce competition and ease the pressure on the business. The two companies tied up in 2017 to build cars together and the <a href="https://www.livemint.com/Auto/OZIyEUKiu91VH2APzOspjK/Ford-posts-a-profit-in-India-20-years-after-driving-in.html" data-type="tilCustomLink" target="_blank">first model is expected to be out</a> in the financial year ending March 2020. M&amp;M on the other hand has been a pioneer in India's nascent electric car market, a growing space which Ford is absent from. The Mumbai-based company is planning to double its electric vehicle (EV) portfolio in three years. The current EV manufacturing capacity is 5,000 and the <a href="https://economictimes.indiatimes.com/industry/auto/auto-news/mm-plans-to-double-its-electric-vehicles-portfolio-in-3-years/articleshow/63089182.cms" data-type="tilCustomLink" target="_blank">firm plans to increase</a> it to 60,000-70,000 in a year. SEE ALSO: <a href="https://www.businessinsider.in/shark-tanks-kevin-harrington-invests-in-retail-store-the-new-shop/articleshow/68796960.cms" data-type="tilCustomLink" target="_blank">Shark Tank’s Kevin Harrington is back in India after 25 years to invest in a pop-up store chain</a>

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MG Motor India to provide grant to EV charging solutions provider Driftly Electric

PTI

Meet India’s Real Gully Boy: Vidit Aatrey of Meesho is taking the entrepreneurial dream deep inside Bharat

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Can latecomer Maruti Suzuki rev up electric car sales in India?

Sanchita Dash

Zoomcar eyes a shortcut to 130 million users — partners with Ixigo

Prabhjote Gill

Ford may enter a joint venture with M&M ending a 25-year old solo ride that cost $2 billion: Report

Sriram Iyer

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