Que: How does Vidyut’s full-stack approach differentiate it from other EV startups in the market?

Ans: Vidyut is not just a financing company; we’re partners in your entire EV ownership journey. The company understands that owning an electric vehicle, particularly in the commercial vehicle segment, can be challenging due to several factors. One major concern is the high initial purchase price of EVs, which often deters potential buyers. This cost disparity is further worsened by poor financing options, as the battery life of EVs often doesn't last long enough to cover the loan period. Additionally, unlike ICE vehicles, who can find repair and service shops at every corner, EVs don’t have that privilege which can make owning an EV even more daunting for commercial users.

While many EV companies and financing firms focus primarily on providing purely capital for financing, we recognized early on that a more comprehensive support system is essential for customers to fully embrace electric vehicle ownership.

Vidyut provides comprehensive support throughout the entire process of purchasing an electric vehicle by tailoring its ownership plan for a model of your choice that best fits your needs. Also, the battery costs and lifespan are significant concerns, Vidyut offers a pay-as-you-go ownership model which reduces the upfront cost and overall Cost of Ownership of the vehicle by up to 40%, allowing customers to pay based on their actual usage. To further reduce the expense burdens, Vidyut’s cashless insurance and maintenance pack provides support for repairs, or replacements as necessary at doorstep. Alongside, Vidyut is also the only EV resale platform for 3-wheeler commercial vehicles where the company manages all end-to-end process of vehicle inspection to RTO.

Vidyut differentiates itself from other EV companies by offering exclusive services such as purchase assistance and a flexible "Battery as a Service" or "Pay as You Use" financing option. While term loan financing is available from both Vidyut and its competitors, Vidyut further sets itself apart by providing battery risk underwriting, resale assurance, and cashless servicing and maintenance, services that other EV companies do not offer.

Que: How does the battery subscription service integrate with the existing fleet management systems of commercial vehicle operators?

Ans: Our battery subscription model offers commercial vehicle operators a new way of owning and managing their vehicles. They pay based on actual usage, allowing them to accommodate seasonal or fluctuating demands more effectively. Currently there is no plan of direct integration with fleet operators and management software as of now, we provide comprehensive data on vehicle usage and battery health. We already provide a fleet management dashboard to OEMs to access vehicle data. Since fleet operators have vehicles from different OEMs, there is value in creating a unified view, but it’s not something we are focusing on today.

Que: How does Vidyut’s doorstep service model help reduce downtime for commercial vehicle operators?

Ans: Vidyut offers its customers the opportunity to opt for Vidyut Kavach plan which is a cashless insurance cover for their vehicle. Under this, Vidyut covers all damage or breakdowns by picking up the vehicle from its customer’s doorstep, getting it repaired at an authorized service dealership and delivering it back. The startup understands the challenges being faced by the commercial vehicle owners as their income depends on their vehicle. Hence, in case of longer repair times, Vidyut also offers them a backup vehicle to reduce vehicle downtime and avoid any kind of pay loss. This approach minimizes disruptions, keeps the fleet operational, and maximizes productivity for commercial vehicle operators.

Que: Mention some of the technological and logistical challenges of managing a pay-as-you-go battery subscription?

Ans: To efficiently manage the pay-as-you-go battery subscription model, it is important to ensure hardware reliability and accurate, real-time data to deliver seamless billing and repayment for users. For this, a major challenge is integrating data from multiple OEMs and maintaining a robust data pipeline for each vehicle. This requires scalable infrastructure to manage the vast amount of data generated daily, ensuring secure storage, accurate tracking, and smooth processing for both the vehicles and customers. Overcoming these challenges is crucial to providing a seamless experience for both customers and the service provider.

Que: What features of Vidyut's insurance model help in incentivizing more EV adoption in the commercial segment?

Ans: We’ve built our insurance model with a focus on making commercial EV adoption more convenient and worry free. Traditionally, commercial vehicle owners can only get their vehicles serviced at authorized dealers and service centers only. Unlike ICE vehicles, the EV market lacks local repair shops at every nook and corner to take care of the vehicle. This often means longer waiting times, slower repairs, and higher costs, which are difficult for the commercial vehicle owners to face. Vidyut’s cashless insurance model reduces such financial burdens and eases their stress. Alongside that, we also provide them with a backup vehicle if the primary vehicle is undergoing a long repair. This keeps businesses running smoothly and minimizes any operational disruptions, which is crucial for fleet owners. Hence, by addressing both cost and operational efficiency, Vidyut’s model helps accelerate EV adoption in the commercial segment.

Que: How does Vidyut evaluate the value and condition of a used EV before listing it on the resale platform?

Ans: At Vidyut, every used EV is carefully evaluated by a team of inspection analysts trained in servicing and evaluation of EV powertrain. The professionals follow a 100+ point checklist, supported by detailed pictures and videos for transparency. We then conduct battery tests by charging and discharging the vehicles and conduct range tests to evaluate battery performance. Apart from this, detailed data analysis is done to determine the battery's health and remaining useful life which helps determine the resale price of the vehicle. A secondary validation provides an accurate estimation of the residual value (RV) of the battery, ensuring fair pricing and reliability for both buyers and sellers.

Que: What role does data analytics play in Vidyut’s service offerings, especially in maintenance, insurance, and battery subscriptions?

Ans: At Vidyut, we continuously track critical metrics such as SH degradation of batteries to understand battery health, monitor cycle count and energy throughput consumed. This data is collected every few seconds directly from the battery and stored for future analysis. Our advanced models utilize this data to map both past and future degradation patterns of the battery. This allows us to perform maintenance at the right time. It also lets us offer customized insurance plans based on the battery's condition and manage battery subscription plans more efficiently by understanding the current and future health of the battery.