Why Read This? Learn about an upstart firm aiming to compete in the Indian four-wheeler EV space. Take a look at India's ...
Passenger cars are the biggest pollutants in cities
As a result of rapid urbanization, over 3.5 billion people live in the world’s cities today. Nearly 2,000 cities are home to more than 2 million residents each. A lack of easy and efficient public transportation solutions, especially for last mile connectivity, has driven unprecedented growth in vehicles over the last two decades, causing worsening air quality and related health issues. According to the EPA, motor vehicles collectively cause 75% of carbon monoxide pollution in the U.S. It's estimated 54,000 of the premature deaths in New Delhi last year were pollution-related.
Strom-R3: a compact, cost-effective EV designed for cities and the developing world
Priced at under $10,000, Strom-R3's compact size is perfect for personal and shared mobility needs. The reverse trike design provides similar stability as a hatchback and reduces vehicle weight by almost half, resulting in almost a 3x increase in energy efficiency. Weight is a major reason behind the high prices of other electric cars, as even compact hatchbacks weigh well over 3,000 lbs. and require massive batteries.
Large fleets of electric cars face one daily hurdle - charging EVs at peak business hours is expensive (as it requires space) and results in asset downtime. Strom-R3 is one of the few electric vehicles offering a battery-swap option for fleet operators. Cars can be back on the road within 5 minutes, thanks to self-operated battery-swap stations placed strategically across the city. This can result in 40% additional uptime and reduce costs by another 20%.
Smart urban mobility solution with future-ready technology
With its unique reverse trike design, Strom-R3 provides the right balance between comfort and easy mobility in city traffic. The Strom-R3 offers an air-conditioned cabin, front and rear storage areas, and accurate range estimation AI engine. The large luxurious sunroof makes the driving experience open and enjoyable.
Strom-R3’s reverse trike design is as stable as a hatchback with particular attention to weight distribution. With major weight between the front two tires, the vehicle has a low centre of gravity along with front and rear anti-roll bars, providing additional stability in situations involving sudden directional changes. Chassis and body structure have been designed using high tensile steel, creating an extremely safe cabin designed to exceed most international standards.
We also use a more widely-adopted industry standard 48V battery pack, which means they require almost no re-work before they can be re-deployed in other applications like Powerwall or emergency backup applications in homes or industry. Additionally, Strom-R3 batteries past their expected 100,000 miles replacement will have an extended 5-10 year of additional life before they have to be recycled.
Secured $10M in pre-order interest just 20 days after launch
Since starting our pre-booking program for the Indian market in February 2021, we've received hundreds of requests from all over India. Customers from Mumbai and New Delhi will be the first to start getting deliveries with expansion planned for other major cities in 2022. Strom has also been awarded as one of Top 10 Start-up’s to “Transform India” by the Indian Government Department of Science and Technology, and chosen as a #HotStartup2020 by Economic Times.
Live in your own world, where the air is much cleaner, the roads are a lot quieter, and the gadgets are way cooler
Strom Motors was founded in the belief that clean, efficient vehicles will dramatically improve the quality of life for people living in cities. With air pollution an increasing concern, our products offer a direct solution to environmental degradation. Not only that, but our vehicles are more efficient and save our customers more money in the long run. As such, our target demographic is the 253M+ people in India who drive every day.
Three distinct business channels gives us omni-directional advantages
Strom offers one of the most efficient drive platforms with all necessary comfort and safety, a complete modern mobility solution. We plan to target key market segments in India, US, and European geographical region with expected product pricing around $9,000 and a gross margin of 40%. We aim to sell through three major channels:
Potential to disrupt $140B shared mobility market
Strom-R3's platform offers best-in-class fuel efficiency with cost per mile 2.5x lower compared to a Tesla Model 3, and 7.5x lower than a Toyota Corolla. Strom-R3 also takes up almost half the space of a typical car, thus providing unmatched space efficiency and enabling a fleet to reduce its real estate footprint by 2x.
Strom is one of the only platforms to use swappable batteries, resulting in 5 minute self battery swapping for 24x7 fleet operations. The onboard electronics are designed in-house to track all moving parts on the vehicle, which helps predict failure and avoid breakdowns. Strom-R3 is a perfect solution for shared mobility fleet operators around the world.
Making sustainability affordable for everyone
Perfect platform for fast growing delivery business
Globally, the logistics and last mile delivery markets have grown significantly with sudden acceleration in 2020 due to lockdowns and safety concerns. Compact electric vehicles are increasingly sought after by all logistic providers. Strom-Cargo offers an unmatched ease of access in low footprint design with one of the lowest cost per mile offering perfect for both the North American and European markets. We plan to showcase this variant towards the end of 2021 at major auto shows and start partner test programs in the middle of 2022.
Strong R&D background
The founders in the recent past have successfully bootstrapped a R&D technology firm with a successful exit. Since 2011, the core team has worked with solar power companies for solutions unique to Indian markets. Strom-R3 project started in 2016 as an internal R&D project with a vision to accelerate EV adoption. We received seed funding from IAN in 2018, with lead investors including the ex-country head of Nissan and VW India. The funds helped us set up our supply chain and manufacturing, and secure the necessary government clearances in India.
This new round of investment will go towards international market expansion, showcasing vehicles at Auto Shows around the world, and loaning vehicles to fleets and industry experts before our launch campaign.