In an interview with Machine Edge Global, Prashant Vashishtha, Chairman and Managing Director of Sokudo Electric India Pvt. Ltd., shares the inspiring journey of his company, which has rapidly emerged as a frontrunner in North India’s electric two-wheeler market. From the inception of Sokudo during the pandemic to its unwavering commitment to the ‘Make in India’ initiative, Vashishtha sheds light on the company’s pioneering innovations, market strategies, and vision for the future.
Can you share the journey of Sokudo Electric India Pvt. Ltd. and how it has established itself as a leader in the EV sector?
So far, our journey of becoming the fastest electric two-wheeler manufacturer in North India has been thrilling. Though we established Sokudo Electric India in 2021, the thought of exploring the EV segment began during the pandemic. While the cleaner air encouraged me to explore the potential of e-mobility in India, the gaps in the Indian auto sector, especially in the quality and performance of domestic electric scooters, irked me. Furthermore, the cheaper and substandard international brands infiltrating India’s EV market did not sit right with me. Eventually, these gaps drove me to innovate and enter the EV segment.
We began our company with an investment of INR 100 crore with a core focus on R&D. Subsequently, in 2021, we started officially as a private limited company with 50 employees and began working on our inaugural model, the Acute. During this time we continued to pursue our R&D activities and took note of customer feedback, which led to 32 modifications in the model. Today, we have a growing team of 110 staff members with expertise in various fields, and we operate in multiple locations across the country, including Tier I and Tier II cities. You can find Sokudo Electric scooter dealerships in cities such as Delhi, Noida, Ghaziabad, Surat, Ahmedabad, Indore, Ujjain, Jalgaon, Mathura, Agra, and Prayagraj. Our quality electric scooters with advanced specifications and cost-effective pricing models have helped us become a trusted name in the EV sector.
Sokudo offers a range of electric two-wheelers. What sets models like the Acute 2.2 and Rapid 2.2 apart in the EV market?
All our models, including the Acute, Acute 2.2, and Rapid 2.2, have been created to meet the needs of modern riders. Their innovative features and unmatched performance have helped them stand out in the EV segment. For instance, the FAME-subsidised Acute offers a range of 150 km on a single charge and a speed of up to 70 km/hr. The high-speed electric model also features a 3.1 kWh lithium battery that can be charged in 5-7 hours. The Acute 2.2 with a 2.2. kWh battery also comes under FAME subsidy and offers a range of up to 100 km and a top speed of 60-70 km/hr. Meanwhile, the high-speed Rapid 2.2 provides a range of up to 100 km on a single charge and a top speed of 70 km/hr.
These two-wheelers leverage advanced technologies such as CANbus connectors for efficient charging, IP67-certified motors, fireproof batteries, LFP battery cells for longevity, and smart battery management systems. These features help our vehicles set advanced safety standards in the two-wheeler segment. Additionally, we offer a 3-year warranty on the battery and a 5-year warranty on our scooters, which ensures safety and durability for a long time. I believe these specifications and the efficient performance of the two-wheelers have helped us gain an edge over competitors.
Sokudo supports the ‘Make in India’ initiative. How has this influenced your manufacturing processes, product quality, and market reach?
At Sokudo Electric, we are committed to supporting the Make in India initiative by contributing to the domestic EV manufacturing processes. To revamp our domestic production efforts and improve our product quality in the R&D stage, we have established a 20,000-square-foot motor and controller facility in Greater Noida. We produce motors and controllers at the facility and use the premises for R&D. Through these efforts, we aim to maintain strict quality control to produce zero quality defects in our electric scooters.
As an advocate of the campaign, we source all our components locally. This step helps us lower production costs and build efficient scooters at affordable rates. We use our facility to refine our design prototypes, test new motors and controllers, and implement changes promptly. This approach helps us develop high-quality electric vehicles that can compete with premium international brands.
What are your thoughts on the current state of EV adoption in India, and what role do you see Sokudo playing in accelerating this transition?
India’s EV market is projected to grow 35-40% CAGR by 2027, and I believe that a significant part of this growth will be driven by electric two-wheelers. The recent data suggests that electric two-wheel sales soared 85% in October 2024, which reflects a continued interest in sustainability mobility. Despite a steady increase in annual EV sales and registration, the EV two-wheeler adoption rate is underwhelming. This gap can be bridged once efforts are doubled to address high upfront costs and battery concerns. Additionally, efforts to address limitations in charging infrastructure and access to customer and dealership financing can boost adoption rates.
In this transformative journey, Sokudo will continue to play a crucial role by developing cost-effective premium vehicles with advanced technology. As we advance our goals, we plan to set up 100 flagship stores in India to make advanced EVs accessible to all. With this strategic expansion goal, we plan to capture 5% of the electric two-wheeler market before FY25.
Where do you envision Sokudo in the next five years, both in terms of product innovation and market presence?
Ans: In the next 5 years, I envision Sokudo Electric as a leading name in India’s EV market. The team is currently working on the last leg of the R&D of our new models, which we will announce soon. Our immediate goal is to strengthen our footing in the electric two-wheeler segment and expand our presence in the three-wheeler and four-wheeler segments in the next few years. In October alone, we added 4 new dealerships, advancing towards our goal of operating 100 stores across India as a key part of our long-term expansion goal. Meanwhile, I am exploring partnerships and investment opportunities to expand our product offerings and popularise Made-in-India EVs.