BLive to set up 15 EV stores in Telangana
Hyderabad: BLive, India’s first multi-brand EV experience platform, is planning to set up about 15 stores in Telangana spread across Hyderabad and other major cities of the State over the next three years, as part of the company’s plans to set up over 100 stores pan-India. Samarth Kholkar, co-founder, BLive, told Telangana Today, “We have […]
Hyderabad: BLive, India’s first multi-brand EV experience platform, is planning to set up about 15 stores in Telangana spread across Hyderabad and other major cities of the State over the next three years, as part of the company’s plans to set up over 100 stores pan-India.
Samarth Kholkar, co-founder, BLive, told Telangana Today, “We have set up the country’s flagship store in Hyderabad (at Hafeezpet) and plan to set up at least 15 stores in the State by the end of 2024. Customers will have a touch and feel experience through these stores and will also have access to multiple brands, finance, insurance and charging infrastructure solutions.”
When asked what made the company choose Hyderabad for the roll out of its flagship store, he said, “Research shows that people in the city are conscious about the environment. The State is the first in the country to roll out a dedicated policy for electric vehicles. It is a forward looking city that tries out new models and technologies.”
The Goa-based company founded by Samarth Kholkar and Sandeep Mukherjee has been operating its digital platform in the last one year, selling over 2,000 units across 50 cities in India. BLive has partnered with OEMs for over 20 brands in the electric two-wheelers (e2Ws) and electric bicycles (ebikes) space, offering both high-speed (30-40km per hour) and low-speed vehicles (restricted to 25km per hour) in the price range of Rs 28,000- Rs 1.3 lakh.
Growth strategy
BLive will make aggressive forays into tier-2 and tier-3 cities across India including Telangana post 2022. Of the 100 stores it will set up in three years pan-India, over 80 will be set up under franchisee route while 20 stores will be company-owned and operated. These will be experience galleries in the form of large (suitable to large cities) and small format stores (for small cities).
On the cost dynamics, he said, “Leaving the rentals, each of these stores will attract a minimum of Rs 10-15 lakhs, as there would be investments in the digital platform as well, making it an omnichannel platform.”
Building collaborations
The company has partnerships with several OEMs making e-bikes and electric two-wheelers such as Ampere, Hero Electric and Go Zero Lightspeed. Every month, the company plans to onboard 3-4 partners, including charging infrastructure providers and EV financing companies.
There are also efforts towards setting up servicing and maintenance centres working along with the OEMs in addition to enabling product training.
Kholkar added, “As we look at rapid expansion in India, we are aiming for Series-A funding next year. We also see the possibility of exploring and replicating the model in the electric four-wheeler space by 2023-24. With increase in rates of petrol and diesel, the EV adoption will gain momentum in the next few years and we will be there to tap it.”
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
