Charging towards a future EV, the startup of this father-son duo offers affordable and fast chargers

In recent years, the electric vehicle (EV) industry in India has undergone massive change, with several Indian startups entering various parts of the electric vehicle value chain, the sector experiencing a major injection of capital, and the public and private sectors leading large-scale execution efforts. However, there is still a lot to be done to generalize electric vehicles.

One of the main obstacles to the adoption of electric vehicles is the availability of infrastructure, including the lack of standardization of chargers resulting in vehicles with different chargers.

Sensing an opportunity, father son duo Sanskar Patel and Arth Patel decided to close this gap to help make the adoption of electric vehicles more transparent. Beginning their journey into EV chargers, the duo launched Tirex Transmission Pvt Ltd in 2017.

Among the EV charger pioneers in the country for DC fast chargers, the Start-up based in Ahmedabad also brings a team of skilled engineers, a cloud-based CMS (charger management system) and a fully equipped R&D facility to help achieve India’s goal of controlling carbon emissions and pollution.

Using its proprietary technology, Tirex designs and manufactures advanced AC and DC chargers for electric vehicles.

Meet the Founders

Computer science graduate from University of New South Wales, Australia, Arth, 21, worked part-time at the company, handling technology development, formalizing strategies and a bit of marketing. Later, in March 2020, he joined as CEO. He currently leads the IT department, focusing on software and application development.

Graduated in Mechanical Engineering, Sanskar (co-founder and managing director at Tirex) comes with an experience of 27 years in production, planning, labor management, etc.

Lead a team of 45-50 members, Sanskar is assisted by a four-member core team. Its vision is to develop and accelerate the growth of a robust charging infrastructure to help businesses reduce their carbon footprint, power urban transportation, and transition to large-scale electromobility.

Team Tirex Loaders

Accelerate EV adoption

The Ahmedabad-based startup offers a range of fast and slow electric vehicle chargers for four-wheelers, commercial and passenger buses, trucks, etc., offering connectors and a wide voltage range – from 3.3kW to 360 kW.

“We provide stylish, fast and reliable chargers. Tirex products comply with standard Bharat (Indian government) and international protocols. All of our products are verified and certified by ARAI (Automotive Research Authority of India) and CE certification body,” says Arth Patel, Co-Founder and CEO, Tirex Transmission Pvt Ltd.

With around 20 SKUs (storage units), the startup’s products cost between Rs 30,000 and Rs 30 lakh.

Currently, it offers charging infrastructure solutions for:

  1. Residential homes: Compact and highly functional EV chargers
  2. Commercial: solutions to ensure the greatest operational efficiency of commercial operators
  3. Fleets: Intelligent, safe and innovative charging solutions
  4. Companies: Fast chargers designed for business for executives

Products – Tirex Transmission Pvt Ltd

Business model and target audience

Tirex relies on physical commerce, with the company manufacturing EV chargers and selling them in six different vertical markets, namely government agencies, bus manufacturers, charging station operators, fleet operators, residential/commercial verticals and international linkages.

“Our user base includes government agencies (20-25%), EV manufacturers (30-35%), EV infrastructure developers or charging station operators (30%)/operators fleet (10%), residential/commercial (5%), and international connections (5%),” says Arth.

The YS design team

Market size and revenue

The global market for EV chargers is estimated at $25.5 billion by 2027. According to the CRISIL report, the EV domain presents a Rs 3 lakh crore opportunity in India.

“We are aiming for at least 15% market share in India over the next five years,” he adds.

The startup achieved a total turnover of $2 million last exercise. With aggressive plans under its belt, the company has set a goal of $15 million this year.

Accepted with $3 million debt/equity, the startup has now scaled to meet the growing demand coming not only from India but also from abroad. In April 2022, he announced the injection of 2 million dollars with an HNI (High Net Worth Individual) investor.

Speaking of competition, Arth says, “Exicom Power Solutions, Delta Electronics, Okaya Power Group, ABB and Siemens are some of the companies operating in our area of ​​expertise.

However, he says the startup stands out for the variety of chargers, product quality, efficient performance and after-sales support.

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