Powered by government advisory firms and stalwarts from the EV domain, EV Jagat is launched to the public. EV Jagat is a platform for all stakeholders in the ecosystem for Electric Vehicles, with a focus on advocacy towards acceptance of EV by Indians, and a marketplace for all things EV.
Reported as India’s first such EV ecosystem driver, EV Jagat works with manufacturers of EVs and batteries and with policymakers and citizens to establish the right demand for electric vehicles. It claims to work on the perception of potential consumers and drive them towards EVs, using data analytics and artificial intelligence.
“EV Jagat guides buyers by providing them vehicle and charging options across the entire customer cycle, including finance, insurance and servicing. Apart from vehicles, we guide consumers on the right accessories personalized for their needs. We also help OEMs manage their entire supply chain through our physical warehouses and our digital marketplace. Hence, if anyone wishes to buy EVs or sell anything related to EVs, they can come to this new ecosystem,” says Viral Vora, Chief Executive Officer of EV Jagat.
Headquartered in Mumbai, with its central warehouse in Navi Mumbai, EV Jagat has plans to reach out to interiors of India and help establish the significance of electric vehicles there. Data shows that though EV penetration has begun in selected metro cities, the smaller towns are far from adopting EVs.
“We realized that there is no central ecosystem that can drive policies as well as consumer behavior, in the context of electric vehicles, in India. With our aim to positively impact the lives of citizens, helping them lead into a sustainable future solving major world problems, EV Jagat was created. Today, it has already started creating such impact, and with this public launch, we hope to transform the space,” adds Ashwin Srivastava, Managing Partner of EV Jagat and CEO of Sapio Analytics.
The Indian Electric Vehicle Market was valued at around USD 5 billion in 2020, with an expected CAGR of above 40% in the next 5 years. Major vehicle manufacturers have created an arm for EVs, but many have not yet understood the depth and expanse of the possibilities due to inadequate market research and understanding of consumers. EV Jagat hopes to fill that gap.