Over the past few years, the electric vehicle (EV) industry in India has undergone massive shifts, with several Indian startups entering various parts of the EV value chain, the sector seeing significant capital infusion, and both the government and private sectors driving large-scale execution efforts. However, a lot more needs to be done to bring EVs into the mainstream.
One of the biggest bottlenecks hindering the adoption of electric vehicles is the availability of infrastructure, including the lack of charger standardisation resulting in vehicles with varying chargers.
Sensing an opportunity, father-son duo Sanskar Patel and Arth Patel decided to bridge this gap to help make EV adoption more seamless. Starting their journey in the EV charger domain, the duo launched Transmission Pvt Ltd in 2017.
Among EV charger pioneers in the country for DC fast chargers, the Ahmedabad-based startup also brings a skilled team of engineers, a cloud-based CMS (charger management system), and a fully equipped R&D facility to help meet 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
A computer science graduate from University of New South Wales, Australia, 21-year-old Arth was working part-time at the company, looking after tech development, formalising strategies, and a bit of marketing. Later, in March 2020, he joined as the CEO. He is currently leading the IT department, focusing on developing software and applications.
A mechanical engineering graduate, Sanskar (Co-founder and Managing Director at Tirex) comes with an experience of 27 years in production, planning, manpower management, etc.
Leading a team of 45-50 members, Sanskar is assisted by a core team of four members. His vision entails developing and accelerating the growth of a robust charging infrastructure to help businesses reduce carbon footprint, power urban transport, and transition towards electro mobility on the large scale.
Team Tirex Chargers
Accelerating EV adoption
The Ahmedabad-based startup offers a range of fast and slow EV chargers for four wheelers, commercial and passengers buses, trucks, and more, offering connectors and a wide voltage range – from 3.3 kw to 360kw.
“We provide sleek, fast, and reliable chargers. Tirex products are as per Bharat (Government of India) and international standard protocols. All of our products are verified and certified by ARAI (Automotive Research Authority of India) and certification body CE,” claims Arth Patel, Co-founder, and CEO, Tirex Transmission Pvt Ltd.
With approximately 20 SKUs (stock-keeping units), the startup’s products cost between Rs 30,000 and Rs 30 lakh.
Currently, it offers charging infrastructure solutions for:
- Residences: Compact and highly functional EV chargers
- Commercial: solutions to ensure highest operational efficiency of commercial operators
- Fleets: Smart, safe and innovative charging solutions
- Corporates: Rapid chargers designed for corporates 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 verticals, namely government bodies, bus manufacturers, charge point operators, fleet operators, residential/commercial verticals, and international tie-ups.
“Our user base comprises government bodies (20-25 percent), EV manufacturers (30-35 percent), EV infrastructure developer or charging point operators (30 percent)/fleet operators (10 percent), residential/commercial (5 percent), and international tie-ups (5 percent),” mentions Arth.
YS Design team
Market size and revenue
The global EV chargers market is estimated to be $25.5 billion by 2027. As per CRISIL report, the EV domain presents a Rs 3 lakh crore opportunity in India.
“We are targeting at least 15 percent market share in India in the next five years”, he adds.
The startup achieved a topline total revenue of $2 million last fiscal. With aggressive plans under its belt, the company has set a target of $15 million this year.
Incepted with $3 million in debt/equity, the startup has now scaled to cater to the increasing demand coming not just from India but also overseas. In April 2022, it announced the infusion of $2 million from an HNI (high net-worth individual) investor.
Speaking of competition, Arth says, “Exicom Power Solutions, Delta Electronics, Okaya Power Group, ABB, and Siemens would be some of the companies operating in our domain of expertise.
However, he says the startup distinguishes itself when it comes to the variety of chargers, quality of the product, efficient performance, and after-sales support.
