CXO of the week: Mayank Jain - Director, Crayon Motors

Crayon Motors was established in the year 2020, more enthusiastic about electric Mobility than any other mobility firm. The Electric Scooters combine cutting-Edge Technology, elegance, and environmental concerns to become a trusted Travel Companion. The company has built a dedicated 40,000-square-foot manufacturing facility with the capacity to produce 20,000 electric scooters per year. To accomplish its objectives, Crayon aims to increase its manufacturing capacity to over 1,000,000.

The company began with a line of low-comfort-speed and is now expanding its portfolio to high-city speed Electric scooters. Crayon has maintained a rapid growth rate, selling over 5000 smart electric two-wheeler Scooters in India. The company aims to expand throughout the Indian geographies, and explore exports to the neighboring countries starting from Nepal.

We recently interacted with Mayank Jain - Director, Crayon Motors, He shared his experience of how he has transformed the firm into one of India's promising & fastest-growing EV companies and he also talked about his entrepreneurial journey, the company’s growth, and much more. Read below to know more about it.

Introduction.

Mayank exhibits new marketing techniques and strong business acumen; he lays the groundwork for the firm to stand on. Mayank lives by the acronym K-I-S-S - Keep It Simple, Silly! This is his basic work philosophy: the finest ideas are clear and straightforward.

Give us a brief about Crayon Motors including its vision.

Crayon Motors is an Indian electric two-wheeler manufacturer that offers riders a more environmentally friendly and cost-effective alternative to ICE scooters. Our products exhibit cutting-edge technology at competitive rates, keeping the two most important pillars of the company – the highest quality and unparalleled technology. Our technology is designed to specifically assist Indian consumers and the country itself in making a breakthrough in the EV race.

Our electric vehicle journey has just begun. As a firm, we aspire to create products that are simple to use, hassle-free and require less maintenance. We want to create solutions for a wide range of applications, including personal mobility and business applications. We continue to learn from our customer’s consistent feedback and incorporate these insights into product and system development. It is critical to understand existing domestic markets as well as future overseas markets in order to lay the groundwork for EVs. In the long run, our vision is to be pioneers in the field of EV business.

What are the main reasons behind the higher prices of EVs, and how it can be brought down?

India is far too reliant on foreign countries such as China for EV components. This is the primary cause behind EV pricing increases. Importing components is expensive, which inevitably raises the price of the finished product. EV technology is also in its infancy in India. Countries such as China and Taiwan are far ahead in terms of infrastructure and EV adoption since they produce every component in-house. Scale economies are not yet existent in the Indian setting, however, they are on the rise. This advancement will help to foster an EV-friendly culture. Another reason is that cells account for a sizable amount of production costs. This will be decreased after we have achieved economies of scale. Economies of scale are not yet existent in the Indian setting, however, they are on the rise. This advancement will help to foster an EV-friendly culture. Another reason is that cells account for a sizable amount of production costs. This will be decreased after we have achieved economies of scale.

The government's FAME - II program is a step toward accelerating the adoption and development of such infrastructure. Given the current geopolitical environment, the EV business will remain vulnerable to price volatility and variations. For the time being, current battery technologies, particularly those based on lithium, will continue to rely on imports. As a result, novel technologies that rely less on imports will be required.

Explain in detail Crayon Motors' Electric Scooters.

We offer electric two-wheelers in the low/city speed range. Our products are designed for intra-city use and have a top speed of 25kmph. The product line provides mileage solutions ranging from 60kmpc to 170 kmpc. Each of our products is tailored to Indian roads, weather conditions, and the most basic requirements. Our scooters have features such as digital displays, anti-theft, disc brakes, and GPS monitoring, among others. In addition, we provide our customers with a variety of financing alternatives to choose from. This includes funding from both banks and non-bank financial companies (NBFCs). We will be introducing our high-speed product line very shortly. These items are designed, developed, and manufactured in India and will be eligible for FAME-II subsidies.

Did you face any challenges being a start-up entrepreneur? If yes, share some insights that how did you tackle them.

Establishing a business and facing problems go hand in hand. We began when the pandemic struck within a year. Those two years were tremendously difficult for everyone, of course! Uncertainty and lockdowns wreaked havoc on the transportation and automobile industries. This had a significant negative influence on our planning, predictions, and growth. In moments like these, we held our heads up, continued to build on what we could, and grew.

What are the key challenges in the EV ecosystem in India? Give your views on that.

There are both possibilities and challenges in the Indian EV ecosystem. Original Equipment Manufacturers (OEMs) have lately begun to help the sector with critical EV components. Historically, the ICE sector has been dominated by a limited number of OEMs, and it has always been a closed system. These legacy organizations and industry titans provide a significant task to overcome since they already have substantial financial resources, years of experience, and brand value. So, sure, it is more difficult for newer enterprises who want to be both a member of the supply chain and a recognized players in the long term. We do, however, have a strategy in place and are putting it into action. The market is ready for collaborations and alliances in terms of potential. Start-ups must collaborate and help one another to construct a comprehensive and strong ecosystem in order to generate a full and resilient ecosystem.

Any recent developments and what are the expansion plans?

As a business, we are always seeking to better understand our client's requirements and aspirations. We hope and are thrilled to address the needs of people throughout India by making Crayon products available everywhere.

As we develop across India, we intend to create manufacturing operations in other parts of the nation. Our goals for growth do not stop with the production of scooters. We have invested heavily in research and development. As a result, we are investing in technologies such as drive trains, batteries, motors, and prototype controllers. We intend to build production operations for these and other critical components.

We are devoted to India's EV ambition in the long run. We are committed to our objective, 'One Million Dreams,' and are working hard to achieve it. The success of this will also be determined by assuring customer/dealer education as well as strong after-sales support. Although our products are manufactured to meet Indian standards, preventative maintenance is required for all products. Because little is known about the wear and tear of EV vehicles, we are developing a strong after-sales service network and implementing an education program for dealers and channel partners.

Now, in which cities customers can buy Crayon Electric Scooters?

We are rapidly establishing a PAN India footprint. Our products have been well received by the customers. Tier 2 and 3 cities are seeing a lot of interest. The list is constantly expanding, with significant markets including UP, Uttarakhand, Rajasthan, Haryana, and Gujarat, among others.