ReadyAssist To Invest INR 59 Crore To Augment EV Infrastructure
ReadyAssist, an AutoTech startup plans to invest INR 59 crores (USD 8 million) over a year to augment EV infrastructure in the country. It will kick off the initiative by setting-up GRID, a phygital store (Physical store augmented by digital capabilities) in 200 prime locations across the top 10 cities in India. GRID will have an in-house quick-service kiosk, battery swap facilities, EV charging infrastructure for both 2 and 4 wheelers. It will also act as a customer experience centre for brands.
By setting up its special EV initiative – GRID, ReadyAssist is trying to bring Clean Tech closer to customers, thus joining the global vision of bringing down carbon emissions to zero. The company already has thousands of mechanics upskilled on EV capabilities to service its roadside assistance (RSA) and AMC customers across India.
This new service aims to extend roadside emergency assistance to the EV segment along with strengthening EV charging/swapping infrastructure. This will be achieved on the back of robust business process, deep tech and optimization of ground operations.
Speaking about the same Vimal Singh, the founder and CEO of ReadyAssist, said “India is today home to more than 1 million EV vehicles. We are in the early stage of adoption and transition from fuel vehicles. Today, the biggest consumer barrier when it comes to opting for an EV is range anxiety and vehicle performance. OEMs are already very committed to building better EVs every day by heavily investing in the R&D front. We, at ReadyAssist, believe it is also our duty to add value to the customers and the ecosystem by investing and innovating on the EV service offerings and its infrastructure.”
At present, the Indian automobile industry is the 5th largest in the world and is expected to become the 3rd largest by 2030. India is home to around 1M EV vehicles and is projected to grow at a CAGR of 36% by 2026.
According to CEEW-CEF, the EV market in India is expected to be a USD 206 Billion opportunity by 2030 and would require a cumulative investment of over USD 180 Billion in vehicle production and setting up the charge infrastructures.
Launched in 2019, ReadyAssist has successfully attended 1,000,000+ incidents from its inception growing from 20 mechanics to 5000+ mechanics today covering 700+ districts and 19000+ Pin codes in the country. They also provide pan India roadside assistance to electric vehicles across 5000 locations in India. With this initiative, ReadyAssist will become India’s first RSA provider to enable an umbrella of services under one platform for electric vehicle owners in India.