Delhi-NCR-based tech startup Statiq is India’s largest electric vehicle charging network. Spread over 40 cities and operating in more than 600 charging stations, Akshit Bansal and Raghav Arora found the startup.
It allows the users to search the nearest charging station and works for meeting the need of the electric vehicle market growth in our nation.
Launched in 2019, Statiq provides end-to-end services to all its users and is backed up by 6,400 chargers to ensure the fulfillment of the requirements.
THE BUSINESS MODEL
With the headquarters in Gurgaon, Statiq Mobility Inc. works with B2C, B2B2C, C2C, and B2G business models. Set up a full-stack charging station at Mangalore for the vehicles to charge.
It has a multi-revenue model where the users buy the application’s subscription.
Then, with every use of the units, they pay a certain amount based on the power charged, which is then distributed among the company and the place owner as a revenue booster.
The plan with which the company is growing week by week by 20% is negotiation.
The company negotiates regarding the rent and the revenue booster with the landlord, where the landlord will pay for the fixed installation cost, and revenue is what they get in return.
The equipment used by the company is about a third of the cost of the U.S. equipment, which makes the Statiq installation cheap.
The advertisements on the charging stations allow them to earn another income apart from the revenue, given their location is in high visibility, which further gives them an edge to earn.
The market in India is growing with the use of electricity and putting behind the conventional way of energy.
Statiq wants to gain the attention beforehand of the electric vehicles that will be launched in the future.
SOCIAL STANDING
As the residents of Delhi, the most polluted city, it becomes the moral duty of all the citizens to find ways to keep an eye on the problem and find solutions.
So for their part, Bansal said that they did research and the fuming vehicles were the largest reason for the Delhi pollution.
They were finding an alternative for the fuel eating vehicles and machinery to put a stop to the pollution. With the motive to switch from fuels to electricity, Statiq was created, and they have installed their stations in Delhi, Mumbai and Bangalore.
HOW CAN ONE USE THE SERVICE?
The charge per unit varies according to the vehicle. The two-wheelers are charged Rs. 11 per unit and Rs. 16 per unit for four-wheelers.
Download the application and then fill out the information by logging in with your phone number or your name. Then, select your vehicles mainly as two-wheelers or four.
With acknowledging the information you provided, the application will show you a map of your nearest electric charging point.
You can follow the map and reach the nearest point. The account should be recharged because it is a prepaid payment system.
You can control the charging limit by the application itself or once complete. It will stop automatically.
The money will be automatically deducted from your application based on your use.
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