RAFT MOTORS Revolutionizing the EV Segment
Indian Economy & Market|October 2021
Raft Motors is a new entrant in the Electric Vehicle segment, however, with ever-increasing dealership nodes in major towns, it is fast emerging as one of the industry leaders with innovative products and advanced engineering skills.

The promoters claim their electric scooters have been designed to address various problems in the EV two-wheeler segment such as slow charging, low powered motors as well as shorter battery life with a target range of 300 km (plus another 180 km with portable battery) to address the range anxiety issues often related to EVs in the country. With the recent unveiling of its various models, Raft Motors has demonstrated a strong commitment to meet the EV aspirations of Indian consumers by providing the best quality products. It also has more products in its stable, besides EVs.

Presented here is a tete-a-tete with two young, dynamic, visionary, and enthusiastic entrepreneurs - Parivesh Shukla and Rakesh Salve, the brains behind Raft Motors. They speak about their range of products, future plans, the intricacies involved in tackling demands from the users as well as other challenges facing the industry.

Let us know the journey so far as it was an entirely new segment in the auto sector?

In fact, Electric vehicle is not something new to the users. It has been present in the Indian market since 2006 but it was not widely accepted due to various flaws. Those versions were using an outdated concept of Lead Acid Technology which had hardly a life span of 6 months. That means the user had to change it every 6 months. As a result, the companies producing these vehicles could not survive.

We entered in this market in 2017 with huge experience both in terms of its manufacturing faults as well as the marketing part. Prior to this we had taken the dealership of an EV company and ran the show for a year. We took a lot of effort to take the concept to people and promoted it in and around Mumbai. But when things were looking up good they terminated our dealership as they got some big party agreeing to invest more. So who could better understand the technicalities associated with EVs?

However, those days taught us a lot of lessons. There was no dealer support, no trained mechanics to solve even a minor problem. What we did, we noted all those issues, searched for solutions, and decided to have our own product. Already we had a brand – Raft Motors – it was our agency name. We applied for licenses, did the required paperwork, and thus Raft Motors was re-born as a company. We used our own resources to set up the plant.

To start with, we got rid of the major problem – in our vehicles, we started using Lithium Ferrophosphate Batteries, considered to be the best. It has roughly 3000 life cycles, which is a layman’s language means for 3000 times it could be charged from zero to 100. That’s a big leap. This battery gives the vehicle life of approximately 8 to 10 years. Considering the life span of the battery we’ve confidently fixed a one lakh kilometers warranty on our vehicles. It has given users a lot of hope and faith in electric vehicles. They thought that if they could use these vehicles for one lakh kilometers then they get their money’s worth.

According to our observation and varied interactions with the end-users we feel there are four major concerns – it should be comfortable and stylish, energy-efficient, after-sale services, and affordable rates. And we’ve incorporated all in our vehicles.

How is the production going? Are you utilizing the full capacity?

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM INDIAN ECONOMY & MARKETView All

Some Unfortunate Truths About Investing

Importance Of Investing

2 mins read
Indian Economy & Market
November 2021

“We've a Lot of Surprises in Store for Investors”

FACE TO FACE DISCUSSION

9 mins read
Indian Economy & Market
November 2021

Raghav Productivity Enhancers Ltd. World's Largest Manufacturer of Silica Ramming Mass

“We aim to be a futuristic company maintaining the global player tag that we have”

8 mins read
Indian Economy & Market
November 2021

It's True, Globalism is anti-democratic

Globalist elites don’t trust you to make the right choice

5 mins read
Indian Economy & Market
November 2021

Rich or Poor

Poverty or Wealth Is A State of Mind.

3 mins read
Indian Economy & Market
November 2021

5 Glittering Stocks for Samvat 2078

Samvat 2077 has been exceptionally well for the equity market. However, Samvat 2078 will be little subdued but these five stocks will add spark to your portfolio.

9 mins read
Indian Economy & Market
November 2021

Will ‘Bad Bank' Craft Good Banks?

Finance Minister, Nirmala Sitharaman has, at last acted upon one of her many announcements during the 2021 Budget presentation, by declaring the creation of India’s first-ever ‘Bad Bank. It will acquire all the NPAs of a bank at a price that is below their book price. It then will work to recuperate and turn around the assets by way of expert management, sale, or restructuring. How effective would be bad bank to solve the mega problem of NPAs? Shivanand Pandit answers this big question.

5 mins read
Indian Economy & Market
October 2021

“GVFL has been at the forefront of ‘Atmanirbhar Bharat' long before the word was coined”

There are a lot of disruptions happening in the entire segment of the economy in these critical times. Please elaborate the kind of crises you faced and what has been the impact of Covid and lockdown?

5 mins read
Indian Economy & Market
October 2021

RAFT MOTORS Revolutionizing the EV Segment

Raft Motors is a new entrant in the Electric Vehicle segment, however, with ever-increasing dealership nodes in major towns, it is fast emerging as one of the industry leaders with innovative products and advanced engineering skills.

9 mins read
Indian Economy & Market
October 2021

KIOCL Limited Despite Lockdown Registered Spectacular Financial Performance

KIOCL Limited, (Previously known as Kudremukh Iron Ore Company Ltd.), a Flagship Company under the Ministry of Steel, was formed in 1976 for mining and beneficiation of low-grade iron ore at Kudremukh, at Chikkamagaluru district of Karnataka. The Company was conferred with Mini Ratna status in 1999. The country’s prestigious Export Oriented Unit (EOU) has its Pelletisation Complex and Pig Iron Complex (Blast Furnace Unit) at Mangalore and engaged in the business of manufacturing high quality Iron Ore Pellets for export and domestic market and supply of foundry grade pig iron in domestic market.

5 mins read
Indian Economy & Market
October 2021