Dhruv Vidyut’s business readiness and approach to electric micro-mobility | Chat with Gursaurabh Singh

Gursaurabh Singh rose to internet fame last year when a video showcasing a robust electric bicycle conversion kit (called DVECK) designed by him went viral. Recently, he appeared on Shark Tank India, where he famously requested investors’ time, instead of funds, to establish his business. In this interaction, he discusses Dhruv Vidyut’s product and their outlook for the electrification of micro-mobility in India.

What is the motivation behind developing this retrofitting kit for bicycles?

Retrofitted light electric vehicles offer a cost-effective and sustainable solution for micro-mobility in India, making them the way forward. More than 50% of Indian households own a bicycle. There are nearly eight crore cycles in India, and it is the primary mode of commute for millions of our people.

The electric bicycle conversion kit by Dhruv Vidyut can potentially upgrade a regular bicycle into a motor and battery-powered vehicle within 20 minutes. This
electric bicycle with increased speed and power will provide the much needed ease of mobility to millions in a no-fuss and affordable way.

What are the unique features and benefits of your retrofitment kits?

The kits are designed to be water and fire-resistant, which was also demonstrated during my presentation on Shark Tank.

• The price of a retrofit kit would be around INR 14,000 – making them affordable for the masses. In comparison, a similar specification electric bicycle from any of the popular e-bike companies would cost upwards of INR 40,000 (without any state subsidies).

• The kits are compatible with commuter bicycles, delivery bicycles, MTBs and tricycles as well.

• It can be easily installed as a DIY project. We are planning to offer both stand-alone retrofit kits and bicycles pre-fitted with kits, leveraging our tie-ups with various bicycle manufacturers.

• The kit has an alloy body. It comes with a 250W motor which produces 45 Nm torque and achieves a top speed of 25 kmph. The kit is powered by a 12 Ah 24V lithium-ion battery which provides a one-time range of 40 km range. The battery can also be recharged by pedalling. The details of Dhruv Vidyut kit specifications are as follows:

• Load carrying capacity of 170 kgs.

• We provide a warranty of 2 years on our kits.

• It can be used as a portable energy storage and help power a fan, light, water purifier, radio or mosquito repellant as need be. The possibilities with portable energy applications are endless.

• Even rotation force applications for agriculture equipment and power tools that can be supported by DVCEK, such as a compressor, an irrigation pump or a water pump.

• We also plan to incorporate IoT devices and GPS tracking technology into our kits.

What is the current status in terms of setting up kit manufacturing and business?

We have been setting up a manufacturing unit near Najafgarh in Delhi NCR for the past year. Recently, we completed the production of the first batch of 400 kits. Around 50 have been fitted onto the cycles, which are currently undergoing closed-loop testing. The plan is to enter the market within this quarter, starting with institutional and B2B sales, before eventually expanding to retail sales by the end of the year. Our strength lies in R&D. For large-scale manufacturing, we plan to engage contract manufacturers once we hit a production target of, say, 10,000 units.

We are targeting an annual kit production volume of 50,000 units. We have received a large number of pre-bookings from various institutions, which will be fulfilled in due time.

What is your approach to keeping the cost of the kits down?

The manufacturing cost of our base model of the kit is nearly INR 9000. We have been able to keep the cost of our kits low due to our strong focus on R&D. We use die casting and sheet metal pressing to produce components using aircraft-grade aluminium. Most of the major components of the kit, including the aluminium casing, motors and battery packs, are designed and manufactured in-house, which helps in reducing the overall cost while maintaining quality. If we were to outsource the production of these components, it would potentially double or even triple the cost of the bolt-on kit. We only source a few electronic parts. Using a 24V battery pack instead of a conventional 48V reduces the number of cells required and helps keep the cost down while supporting the intended use cases. In addition, we are getting into tie-ups with financial institutions to help make the kits even more accessible.

Could you provide some information on the regulatory requirements for your product?

While bicycles are exempt from motor vehicle regulations, we are actively working to ensure that our product meets the latest AIS battery and charger standards. Our kits already comply with speed and motor wattage requirements for e-cycles, but we are also monitoring any upcoming standards for retro-fitment. As soon as the government provides clarity on regulatory requirements, we will ensure that our products are compliant.

You asked three sharks on the Shark Tank to give you time and mentorship to build your business. Are you currently seeking financial support?

Rather than seeking money at this pre-revenue stage, our priority is building strategic partnerships with individuals or institutions who can help solve critical aspects of distribution, service and sales. Our focus is not only on raising funds through investments but also on finding synergies and collaborating with knowledgeable experts who can add significant value to our company. If funding is a part of the deal, we will be very happy to engage.