In a conversation with Entrepreneurs Today, Parveen Kumar uncovered how his company has been able to make strides in the EV charging sector.
About Alektrify Private Limited
Alektrify Private Limited, founded by Parveen Kumar during his second year of graduation at Delhi University, has emerged as a prominent player in the electric vehicle (EV) charging solutions sector. Over the past four years, the company has successfully navigated the industry, particularly focusing on the B2B segment.
Specializing in providing charging solutions to fleet operators, Alektrify made a significant mark by becoming the first partner for BluSmart, a renowned name in the EV fleet industry. The collaboration resulted in the establishment of one of India’s largest charging stations, currently servicing approximately 700 to 800 cabs daily. Parveen says,
“We have since broadened its clientele, working with notable companies such as Adani and Siemens, offering comprehensive services ranging from consultancy and skilled manpower to equipment, designs, and full EPC contractor collaboration.”
With a strong foundation in the EV charging infrastructure, Alektrify Private Limited is now strategically expanding its operations to different domains and regions across India.
Drawing inspiration
Parveen drew inspiration from a desire to contribute positively to society, influenced by his background in an army family. He reveals,
“From my schooling to graduation, I harbored a passion for entrepreneurship with a focus on making a meaningful impact. Given the environmental challenges in the Delhi NCR region, such as noise and air pollution, I identified the burgeoning renewable energy sector and electric vehicles (EVs) as a solution.”
Motivated by the potential societal benefits, particularly in mitigating pollution, Kumar decided to venture into the EV business. Despite the lack of extensive knowledge and prevalent norms in the field at that time, he saw an opportunity to support and capitalize on the growth of EVs.
Alektrify Private Limited has remained completely bootstrapped thus far, without any external funding. While acknowledging potential plans for external funding in the future, the company has thrived on its commitment to sustainable and impactful solutions within the EV charging sector.
Current market and USP
Initially enjoying a two-year lead in the market without any competitors, Alektrify Private Limited has witnessed the landscape evolve as the company expanded its presence. With the growth in the electric vehicle (EV) charging sector, new entrants, especially those traditionally focused on the business-to-consumer (B2C) segment, have transitioned into the business-to-business (B2B) arena.
As the market dynamics shift, Alektrify now faces competition from notable players. However. The company remains focused on sustaining its position as a key player in the evolving EV charging solutions market.
Interviewer: What would you say differentiates the company from others in the market?
Parveen: “In terms of its USP, Alektrify Private Limited distinguishes itself in the electric vehicle (EV) charging solutions market through a steadfast commitment to quality and reliability. In an industry where norms and knowledge were sparse in the early stages, Alektrify prioritized safety standards and high-quality infrastructure from its inception in 2020.”
Notably, over the past four years, the company has maintained an impeccable record with zero incidents, by adhering to the best safety standards and quality norms. In a landscape where reports of fires and incidents in various charging infrastructures have surfaced, Alektrify stands out as a reliable and secure choice for users across India.
The company’s dedication to upholding the highest quality standards serves as a significant differentiator, reinforcing its position as a trusted partner in the EV charging sector.
Challenges faced
Parveen encountered several challenges when establishing Alektrify Private Limited, primarily stemming from the lack of knowledge and policies within government departments. The absence of well-defined regulations and infrastructure posed significant hurdles. Notably, the dearth of proper equipment in the country, with a heavy reliance on imports from China, further complicated the initial stages of the business.
He further highlighted,
“One of the major obstacles was the disparity between the policies outlined on paper and their implementation on the ground. It took six months of persistent efforts to navigate bureaucratic processes and ensure the implementation of charging infrastructure policies.”
While facing challenges from external factors, Kumar and his team conducted thorough research and analysis before commencing operations. This proactive approach helped them anticipate potential issues and prepared them to tackle both major and minor challenges that arose during the implementation phase.
Achievements so far
Alektrify Private Limited has emerged as a key player in the electric vehicle (EV) charging sector, currently operating India’s largest charging stations and successfully expanding its presence from the northern region to Kolkata, Bangalore, and Mumbai.
With a remarkable utilisation rate exceeding 50%, including an impressive 72% utilisation, the company surpasses the national average.
Alektrify has garnered recognition through awards, including “Startup of the Year” in the mobility segment and “Best Company of the Year” at the Intel 2.0 conference in Dubai. Additionally, the company has been featured in industry publications, such as Industry Outlook, further solidifying its position as a leading contributor to the EV charging industry.
Plans ahead
Alektrify Private Limited is strategically diversifying its business ventures by entering three additional domains and exploring international expansion. With a robust network of charging infrastructure operating on a large scale, including the largest charging stations in India spanning an area of around 30,000 square feet, the company aims to implement new services.
Future plans include the establishment of a customer lounge and cafe to enhance customer experience. Additionally, Alektrify is venturing into the automotive maintenance sector with a focus on fully autonomous charging stations.
The company, co-founded by two brothers, envisions a comprehensive and innovative approach to its services in the evolving electric vehicle charging industry.
Lessons learned
The lessons learned by Alektrify Private Limited’s founder include the importance of thorough research and study before venturing into a business. Recognizing that anticipation of challenges is key, he emphasizes the need to be prepared for at least 60-70% of potential obstacles. This strategic approach contrasts with the common oversight seen in some entrepreneurs who may not conduct comprehensive studies, relying solely on the viability of their ideas.
Another crucial lesson is to “look beyond the idea” – exploring the broader possibilities and capabilities inherent in the initial concept. For Alektrify, this meant envisioning more than just charging stations and infrastructure, leading to the implementation of innovative solutions such as multiple charging stations with multiple chargers.
