In alignment with India's goal of achieving net-zero carbon emissions by 2070, NITI Aayog has set an ambitious target for electric vehicles (EVs) to comprise 80 percent of two- and three-wheelers by FY2030. This initiative not only fosters sustainable growth but advances the Make in India campaign, a vision shared by Vaan Electric Moto, an eco-conscious venture at the forefront of the electric mobility movement. The company was the first Indian start-up to debut globally at EICMA in Italy. In January 2022, the company officially launched two of its most innovative products, urban sport and race bikes in India. The Department for Promotion of Industry and Internal Trade (DIPP) recognized Vaan and registered it in Mumbai, and the Kerala Start-up Mission also acknowledged it.
"The idea for my venture emerged in January 2018 while living in Shenzhen, the first city with fully electric public transport. I spent seven years there, surrounded by electric vehicles and charging infrastructure. Shenzhen's EV ecosystem inspired me to return to India and start a business, given my background in shipbuilding and oil and gas. Leveraging the Make in India campaign and my global connections in the EV industry, I officially founded my company in 2019", shares Jithu Sukumaran Nair, Founder & CEO.
Global Debut to Local Impact
Vaan dedicates itself to the micromobility sector, specializing in e-bikes and scooters.
The company is also developing an app to integrate its products and accessories, offering a seamless user experience. Over the past five years, Vaan has focused extensively on R&D, collaborating with Austria's Kiska for design and Italy's Benelli for engineering. The product line began with the Urban Sport e-bike, launched at the Italian Motor Show in 2021, followed by a limited edition and a premium model in 2023. The company's assembly plant sources components globally, with plans to localize production in India, aiming for 70 percent domestic manufacturing by next year. The company has 124 dealers across key states, with a Mumbai headquarters and an assembly plant in Kosamba, Gujarat.
A partnership with Benelli, which handles detailed engineering, prototyping, and testing, drives Vaan's R&D and manufacturing. The company specializes in electric cycles, targeting B2C markets and the hospitality industry. The company's e-bikes boast a range of 50-70 km per charge, and their easily removable batteries allow for convenient charging anywhere. While charging infrastructure is a broader concern for larger electric vehicles, it's less of an issue for e-bikes. The company ensures high-quality production through rigorous quality checks, leveraging Benelli's expertise and supply chain management.
Vaan is developing an entry-level model for the Indian market while expanding into Europe and the UAE
Vaan's plans include launching a more affordable range of electric cycles for the Indian market and expanding internationally. They have already signed agreements in the UAE and four European countries. The company has also invested in a Spanish engineering company that develops high-performance EV bikes for kids, used in racing championships across Europe. The company plans to bring these EV races to the UAE, India, and China.
Additionally, the company advocates for greater government support and incentives for the electric cycle segment in India, particularly to make e-bikes more affordable and accessible in tier-three, tier-four cities, and rural areas.
"Our primary goal is to establish a lifestyle mobility brand and create a complete ecosystem where customers connect with the brand on a deeper level. When they visit our stores, we want them to explore and purchase various products, including cycles, apparel, helmets, and more. We have already introduced products like smartwatches and are set to launch additional items soon, including cycling jerseys, helmets, and other accessories", concludes Jithu.
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