Croyance Automotive will be launching its electric light commercial vehicle soon. Behind this achievement is a journey, which was not a cakewalk for this woman entrepreneur who has neither professional background nor any legacy in the sector. Narrating the story, Kapila Soni, Managing Director & CEO, Croyance Automotive said, “My qualification is MA Ed and I come from a teaching background. However, I always had an inclination towards automobiles. Luckily, my husband shared the same passion. He was a visionary, who had immense knowledge on EVs. As a result, we quit our jobs to establish Croyance. Automotive in 2015.” Although establishing an EV venture was a novel idea then, the couple foresaw the momentum EVs would gain eventually.
Why did the couple choose to enter the light commercial vehicles segment instead of e-Scooters or three-wheelers, which have more popularity? Answering this, Kapila said, “In 2015, the EV technology was still at its nascent stage. Electric scooters, three-wheelers and buses were being introduced gradually. We thought that electric commercial vehicles would set us apart. Hence, we decided to introduce 800 kg electric Light Commercial Vehicle (LCV) with the range of 150 km for intracity movements.”
The decision turned to become a wise one. Although COVID-19 severely impacted the demand for LCVs globally, it is now picking up drastically post-pandemic. According to a report, increase in industrial activities and rise in e-Commerce are key contributing factors for this surge in demand. Additionally, the Indian government’s emphasis on electric mobility is expected to boost the demand for electric LCVs.