 Hello, everyone. I am Summersinghla and I run a company called Jugnu in India and I'm here to talk about the Indian Tesla to you, but I have a disclaimer. This is not going to look like the American Tesla. It's a might be a bit disappointing. So I'll start with a story on how we went on this path. I was talking to somebody very senior in a car manufacturing company in India and I was asking them, you know, what are you going to do for electric vehicles in India? India is obviously a huge market and Why is nobody any in nobody doing anything for electric and he said that India is a very rewarding market But it's a very Unforgiving market also you make a mistake and there is no going back, you know And so many big companies have gone into India and and failed So that got us thinking that What we need to do is we need to find a very Indian solution to this problem of moving India to electric vehicles and Technology might not be the most important factor there, you know the whole economics might be the most important factor in this and That is what you know, I'm going to talk about and a little bit about our company what we do So Jignu is an on-demand transportation app like Uber in India. So we do about 40,000 transactions every day. These are predominantly powered by gas vehicles right now. So about 25,000 daily passenger rides and 15,000 deliveries So so we are about we are present in about 30 cities in India So it's a it's a large footprint, but we focus on tier 20 at three markets, right? And Now the main reason why we want to move to electric, right? Of course, you know the obvious reason is that pollution is increasing But that's not really the biggest reason why India today needs to move to electric You know because people talk a lot about pollution, but at the end of the day It's economy that you know drives the decisions So right now India is the largest importer of oil in the world and not just that India also the the largest Reason of India's GDP deficit is also oil and very recently With another thing happened is that India became power surplus for the first time in history India now has more power than than it needs. So essentially, you know No oil in India a lot of oil scarcity and you put power surplus status Into that it makes sense that India focuses on electric vehicles And of course the second reason which is a big reason, but not the primary driving factor is the rising vehicular pollution. So just the auto rickshaws in India produce about 15 million kilograms of carbon dioxide every day 15 million million kilograms every day. That's a massive massive number and that's what we want to change So now what is the big opportunity in India? Why is India primed for electric vehicles? The simple factors are, you know, it is the largest urbanizing economy right now in the world Only about 30% of the population in India lives in in urban cities compared to 80% in US and We feel that in the next 10 years about 60% of India's population will be living in cities These will be tier 1, tier 2 and tier 3 cities and all these people will be needing transportation Most of the tier 2 and tier 3 cities do not have a public Metro or a bus system in India. It's very surprising, but that's true and Second factor only 2% of Indian population owns a car and Compared to 80% in US and about 15% in China. So that is another massive reason why a lot more people will need transportation as a service rather than owning their own vehicles and Finally, you know the the demography that we're targeting is the people who ride rickshaws So at present every day there are 30 million rides Happening on rickshaws about 55 kilometers every ride That is 150 million kilometers being driven on gas-powered auto rickshaws right now every single day that is the market we are trying to capture and This by the way means 15 million kilogram of Carbon dioxide every day. So so this is our solution It's called Oko 2 and Oko 2 is the name that we have come up with it. So 0 co2 So it's a very very simple product. It might even be you know It might even look unsafe to a lot of people because a lot of people ask me that you know Where are the seatbelts? Let's say guys if there's an accident like God saves you. There's nothing else and Already runs in India. It's very popular and there's an interesting reason why it actually is popular in India So the price point is about $2,000 per vehicle, which is very cheap But this also makes it very good political gift So if anybody wants to you know run for a election campaign in India The typical way to start their campaign is to gift a bunch of these to poor people in that city So if you are running in a small city, you'll gift like 50 of these to people and say, you know You generated jobs you you are against pollution You're also, you know, this is cheap enough to be given out in numbers because cars are expensive So so that is the reason of the popularity But still it works and now So this is the most important factor if you look at it the technology advantage is not really there I mean, there is nothing much to be done on a technology side, you know, it's already there it works This is the piece which we have to get right. This is the most important factor in the whole equation This is the business model, right? And if you know a little bit about markets like India and China I think the biggest difference with the Western markets is that there's very little brand Awareness or brand stickiness in the in the Indian and Chinese markets people would just go for for the brand Which is the cheapest and that's typically what works so because of that the business model of this Solution becomes the key factor, right? How do you make sure that people are? You know people are loyal to your brand So one of the ways to do that is to break it down into a model where you're working not with Not as a company directly with consumers, but through entrepreneurs who are actually You know building small businesses on top of this platform So essentially you become a platform for small entrepreneurs to build small businesses. So how do we do that? So typically? We want small entrepreneurs to buy these rickshaws for about Roughly about ten rickshaws on an average so you can buy five rickshaws. You can buy twenty rickshaws But on average you want to buy ten rickshaws. So essentially You invest about twenty to thirty thousand dollars Buy ten rickshaws and hire ten drivers and you become a micro-entrepreneur And as a company what we do is we provide them loans to do this Through banks and secondly we give them a minimum guarantee of running So this is so three thousand kilometers per month is the minimum guarantee that we give to the drivers to that This is the minimum amount of the distance that they are going to run we ensure this by Giving them an app and sending them rides So they will have so a driver will have our application which will keep getting rides And they are assured that they are going to do three thousand kilometers every month And then we provide them seven rupees per kilometer. That's about ten cents per kilometer It's a fairly cheap compared to any other means of transportation even in India and We charge about twenty percent markup So so this is a business model and the most important factor is that this is a very very simple business model But if you translate it to about 30 million rides every day, which is about five million rickshaws In India at this moment. So this means that it is going to be about ten billion dollars GMV every year So that's the advantage of working in a big market So you try to take a very very simple solution and scale it rather than have a complicated solution and not able to scale it So and now what is the advantage that you know has which nobody else has right? Why why is this approach better because there is nothing technology wise which we are doing really You know, we're taking a very simple technology. We're just trying to build it So what do we have that nobody else has so one is in India nobody's really attacking the problem right now everybody is waiting and watching and Everybody feels that India is a tough market. So you need to have to see the first mover Whoever that is so all the big companies like Uber Ola, you know Toyota Maruti They all want to basically see what works and then jump into the game. So they don't really want to You know take the first step. So that's the advantage we have we have a huge market and no first mover We can be the first mover and second the plan that we have does not require a lot of capital cost We are actually trying to bring together entrepreneurs and banks to finance the system and make sure that everybody makes money in the process So this becomes rather than a top-down approach a bottom-up approach, right? It is a slow-moving process, but once it gets going. It's very easy to to actually Scale because you know, it's driven by entrepreneurs and if you want anything to scale fast You know, you just have to somehow attract entrepreneurs into doing that and Then we have captive audience. So we have about five million people who are already using our app this is the gas auto rickshaws that we have and We want to just move those rickshaws to electric first and the second step is to then move those To start adding new rickshaws to the fleet so 40,000 transactions, which we are doing captive based on gas fleet We move them to electric first and then we start to increase So in the next one year our focus is to just move all our captive transactions Onto the electric fleet. So essentially 40,000 daily transactions and Finally because we have a fleet that is not just doing Not just doing rides of passengers, but also doing deliveries We have a better advantage when it comes to efficiency, right? Our fleets are busy for about 70% of the time compared to a typical fleet on the road Which is busy for all Only about 30% of the time. So the efficiency of the fleet that we have is almost double than a traditional you know rickshaw that you see in India and And so that's the that's where we are right now and the status Where we are at this moment. So we started this pilot about six months ago in one city So we're doing about 2,000 rides on the model that I explained So we it's a profitable model and we already have about 100 entrepreneurs enrolled with us Who have the rickshaws who manage the drivers and we just focus on two things making sure that They get enough business to make it viable and The way do we do that is through the app and marketing on the app and keeping the costs low So that's the stage right now where we are at and the timeline is so in the next one year We want to replace all the existing transactions with electric transactions that would be By the end of this year and after that we want to grow to about 300 cities in India and By the way, there are 100 cities in India with a population of over a million people So it's a very very big market right without any public transport access. So this is the Opportunity that we are trying to capture and Finally, I would just end with a small story. So somebody asked me, you know, there is really no technology You are bringing to the table. So why don't you bring some? You know do something as a company which is doing something with technology, right? Because being a technology company Everybody is almost obsessed with you know building some technology That makes a big company, right? So I said, you know, there are three things that really matter here one is Doing this we save about 15 million kilograms of Carbon dioxide being produced every single day. That's a big impact, right? second We provide about five million jobs and that's again a very very big impact, right and Finally, we are able to do Such a big service to our country by reducing the deficit So even if it is not very technology heavy, even if it is not very tech product it's still something that is worth doing and That is why we feel that Indian Tesla is not going to be a very nice-looking car Which competes with sports cars, but it's going to be a humble Three-wheeler almost a cycle with an electric motor into it. That is our vision for electric vehicles in India Thank you very much