BENGALURU: As India gears up to achieve its ambitious net zero target by 2070, the adoption of electric vehicles (EVs) has emerged as a critical component of this journey. The government’s FAME India (Faster Adoption and Manufacturing of Electric Vehicles in India) scheme, initiated in 2015, plays a pivotal role by providing financial incentives to EV buyers. In the fiscal year 2023-24, the government allocated ₹4,807 crore to this scheme and earmarked ₹2,671 crore for 2024-25, with potential revisions in the upcoming Union Budget.
Amid this backdrop, Coimbatore-based startup BNC Motors, founded in 2019 by Anirudh Ravi Narayanan and T Vinoth, is making significant strides in the electric two-wheeler (E2W) market. BNC Motors sets itself apart by manufacturing every major component of its E2Ws in-house, from chassis and powertrain to battery and electronics, with 90% of its supply chain operations concentrated in Tamil Nadu.
India’s EV market witnessed a substantial surge in FY24, with sales surpassing 1.7 million units, according to a report by JMK Research & Analytics. Electric two-wheelers accounted for over 55% of these sales, totalling 41,35,077 units by the end of FY24. BNC Motors ensures stringent quality control throughout the production process, offering a five-year or 1 lakh km warranty for batteries and a seven-year unlimited kilometre chassis warranty.
“Simplifying the user experience is a core principle at BNC Motors. The company prioritises user-friendly designs and streamlines maintenance procedures, ensuring its vehicles are technologically advanced yet easy to operate and maintain,” says official of BNC Motors.
BNC Motors offers a diverse range of E2Ws, including its flagship models—the Challenger S110 and S125 e-bikes, the Perfetto Scooter, and the Boss NR 150 e-bike. Priced at ₹99,900 and ₹1,45,000 respectively, the Challenger S110 and S125 models are available across the company’s dealership showrooms, with plans to launch additional e-bikes by the end of 2024.
In collaboration with Japanese firm Musashi Seimitsu, BNC Motors focuses on vehicle development and distribution, while Musashi specialises in auto components, including electric powertrains and advanced battery technologies. The company’s in-house developed Etrol battery, claimed to be the safest in India, is tested to endure temperatures exceeding 300°C and complies with the latest government standards, including AIS-156 Amendment 3, Phase 2.
BNC Motors is also developing battery swapping stations to enable swift battery replacements within five minutes. Additionally, the company has launched a mobile application that allows users to monitor trip details and battery status, store essential documents, and track their carbon footprint.
Expanding its footprint, BNC Motors has opened showrooms in Jaipur, Rajasthan, and Pune, Maharashtra, besides its existing network in Tamil Nadu, Kerala, and Karnataka. The startup aims to establish about 90 new outlets across Delhi-NCR, Uttar Pradesh, Punjab, and Haryana, envisioning a total of 300 outlets nationwide, creating over 1,500 employment opportunities.
With revenue targets set at ₹30 lakh per month for its COCO (Company Owned, Company Operated) showroom in Pune, which serves as the West Zone regional head office, BNC Motors is poised for significant growth. The company collaborates with B2B partners such as Zepto, Zaroz, and Rapido, further enhancing its market reach.
Having raised around ₹150-200 crore until its Series B round, with Musashi as the lead investor, BNC Motors is on track to achieve EBITDA breakeven this fiscal year. The company plans to finalise additional fundraising to scale its operations further.
“We spent about four years in R&D to develop a solid product and platform of technologies—now it’s time to scale,” concludes official of BNC Motors’ commitment to revolutionising transportation with eco-conscious solutions.
