India’s first electric supercar will be put on road in Nov



Pravaig Dynamics, a homegrown startup, will launch India’s first electric luxury car in November. The Bengaluru-based, eight-year-old startup claims to have received confirmed bookings for nearly 1,000 units of its debut vehicle.

While the price and name of the car will be revealed at the launch, the delivery time has increased to 12-14 months since the vehicle was opened for private sales to select prospective buyers.

Pravaig has changed the body type of the ready-for-launch model from coupe to sport utility vehicle (SUV), in contrast to the compact-looking Extinction Mk1 coupe model it showcased in late 2020.

Siddhartha Bagri, CEO, Pravaig Dynamics said, “The people who have booked the car are getting the special launch price. This price will not be the same at the time of the launch.”

Bagri claims that the electric SUV will be able to run for more than 500 km on a full charge and its top-speed will be ‘north of 200 km per hour’. The startup also claims that the vehicle can be charged up to 80% in 30 minutes.

“The customers who have booked our car are diplomats, cinema artists, politicians and businessmen,” Bagri added.

Pravaig claims that despite a variety of features added to the vehicle, it has been able to keep costs under control because it manufactures batteries, which account for half of the vehicle’s cost, in-house.

First product to be launched in Nov

The company will release its first product in late November, with cutting-edge technology and features not seen before. There will be a lot of indigenisation in terms of batteries and suppliers. Pravaig tactical batteries are supplied by a couple of distributors of defence and energy equipment to European armed forces.

While revenues from the battery business and funding from some international investors have helped the company run operations, including the production capacity set up for the debut model, the startup is talking to additional investors for raising funds for future expansion.

“We are in conclusive negotiations with investors for our fundraising but that is for our expansion plans. We plan to have 1 million units per year capacity by 2027, which will require an investment outlay of $4 billion in 4-5 years. We are also discussing with a few state governments for the plant,” Bagri added.

Its current production capacity, situated in Bengaluru, is claimed to be at 2,500 per annum.

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Dr. Kirti Sisodhia

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CATEGORIES Business Agriculture Technology Environment Health Education

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