Tell us something about your background. What motivated you to become an entrepreneur in the automotive industry and that too in the electric vehicles space?
Entrepreneurship or entering in any business doesn’t require any special qualification. It just needs an aim and passion; a passion to dream and making that dream a reality. I was born and brought up in the Thane suburbs. My qualification is MA B.Ed and I actually come with experience in the teaching profession! This profession has only taught me how to communicate in business. When I met Sandeep, my better-half, I was very amazed to see his passion for electric vehicles and his dedicated studies as well as research for the same. But, he was a bit hesitant to move ahead in the direction of electric vehicles. So, I encouraged and boosted him for the electric vehicle venture. Finally, we both left our comfort zones and formed Croyance Automotive on December 11, 2015 in Gujarat.
How are you funding this entrepreneurial initiative?
Finance is backbone of every business. We started this company with our own initial funds, as well as with some finance from friends and relatives. Our team is also working on some financial proposals like equity, angel investors and we are getting good response. Similarly, we have also approached a few banks for assistance.
What made you focus on the commercial electric vehicle segment?
When we started Croyance Automotive we found there is no EV in the light truck segment, so we thought why not EV in light truck and the result is Elecro1.t, which is India’s First Electric Light Truck’.
How does it feel to be in your position given the excitement and buzz around the electric vehicles segment both globally as well as in our country?
It feels good and every day gives a push to me and my Team Croyance.
Croyance is a rather odd name for an automotive company. What is the idea behind the same?
Good question. Croyance is a French word which means belief. Let me tell you, initially when our CS suggested this name to me, I spent three sleepless nights as the name Croyance is quite different. I was wondering how people would accept it in the automobile industry. Finally, I decided to go ahead with it. Now, Croyance is our pride and identity. Croyance Automotive is not only accepted but is also appreciated at many places. As the name Croyance is unique, so is our work and our electric truck Elecro 1.t. When you break up Elecro 1.t, you will see that Ele stands for Electric, Cro for Croyance, and 1. T for 1 Ton loading capacity. So, Elecro 1.t is the Electric Truck of Croyance Automotive with 1 Ton loading capacity! I must give special thanks to Bhavik H for suggesting the name Croyance!
Tell us something about the manufacturing set up of Croyance in terms of its location, size, infrastructure and capacity? How many models will you produce initially?
Croyance has its Registered office at Vapi in Gujarat and the factory is located near Surat. The plant’s annual capacity is 6000 Units. Initially, we will launch two model Elecro1.t (Hard Top) Elecro 2.t (Soft-Top).
Tell us something about your supply chain.
For few components we have tie-ups with multiple vendors in the country.
Tell us about your focus on R&D.
Our R&D team is working on the upgradation in the current vehicle with the aim to increase the running distance in a single charge. You can expect Croyance to launch its first commercial electric vehicle in the market by October 2019.
How will you be pricing the first products?
The pricing of Elecro 1.t and Elecro 2.t will be done in the affordable price range with the aim to encourage electric mobility and to create electric awareness in India.
Which are the markets where you will be launching your products?
In the initial phase, we will launch our vehicle in metropolitan cities such as New Delhi, Chennai, Bengaluru, Jaipur, Mumbai and Nagpur. Also, parallelly we have received dealership enquires from various parts of country.
How will you provide after sales support to your customers?
After sales support will be provided by company through dealers’ network and we are working on it to give our best support to our customers in any every way.
Are you also looking at launching further new products once the above products are launched?
Yes. My team is working on the same and you can expect it soon after the successful launch of Elecro1.t and Elecro 2.t
Are you looking at any kind of technical support from other OEMs or tech companies?
All I can say is that we are getting good response from an OEM for technical support and we are working on same.
What kind of policy support do you feel is further required from the government?
Right now, the Government policy is very much favorable for electric vehicle in India. Our sincere thanks to Government for encouraging Electric Vehicle.
Where do you see Croyance in the next five years?
Croyance is growing at a steady pace. We believe in providing quality rather than quantity. In the next five years, you will see wide the electric product range of Croyance successfully running on Indian roads. We will also consider expanding our manufacturing footprint in the near future.