Electric Vehicle Startup Pure Ev
Pure EV, a Hyderabad-based electric vehicle startup offering a new warranty extension with retroactive benefits for existing customers, has announced a new warranty extension policy. The government extended the validity of the certificates for benefiting from the FAME II program for registered electric vehicles for three months until 31 December. The Ministry of Heavy Industry has extended the validity of the certificates under the program by three months.
Pure EV, the incubation startup of IIT Hyderabad, has offered a new warranty extension with various benefits for its existing customers. Speaking of the new warranty policy, it covers important powertrain components such as the battery, engine, and control of the current models. The announcement of the extension of the warranty policy follows a strong data analysis and extensive design improvements of all powertrain components related to the battery and engine management.
The company offers in this category two high-speed and low-speed electric scooters. The company has extended the warranty period for several components of the electric scooter, including the battery pack. According to Pure EV Commissioning, the warranty for the battery has been extended to five years, compared to the three years previously offered.
Hyderabad-based electric vehicle manufacturer Pure EV says it has spent over two years implementing a new warranty extension policy or retroactive benefit for existing customers and has formulated a data-driven approach. The company decided to extend the electric scooter warranty for new and existing customers after evaluating the scooters through data analysis.
Product performance, key powertrain components such as the battery, motor, and the control of the current models, the ground area (40,000 km) of many of the company’s pure EV models, internal test data from the past two years, customer and dealer feedback and other related areas were evaluated.
One of the strongest initiatives Pure EV has taken in the past year has been the introduction of Batric, a Faraday AI-driven hardware that enables battery service and troubleshooting at the dealer level. The company has a strong R & D team for the entire battery, motor, and steering operation and closely works with its manufacturing and service teams to get feedback from various stakeholders.
Over the last year, the company reached a point with its technology and its skilled workforce where it was able to repair up to 99 percent of the defective batteries, motors, and controls in its production unit, which formed the basis for the introduction of an extended warranty policy.
Pure EV is a start-up for electromobility with four products in its sales portfolio. It is a Hyderabad-based company that manufactures electric two-wheelers and offers customers across India up to four models. The company has more than 100 points of contact throughout India and has a production capacity of over 60,000 electric vehicles per year.
Pure EV is the only Indian electric vehicle and two-wheeler company that has made a net profit since its inception and committed to investing its profits in further research and development (batteries and engine controls) as well as sales and service activities to improve user experience. Backed by Chinese electric car start-up WM Motors, it raised 10 billion yuan ($1.47 billion) in its latest round of financing. Investors in the round include Shanghai’s state wealth regulator and investment firm SAIC Motors.
The company said it had spent over two years reviewing and releasing the policy, which was formulated using a data-driven approach. The company has access to research and development facilities at IIT-Hyderabad and strong technological support. The first seven dedicated BEVs, codenamed CV, will be unveiled by Kia Motors Corporation in 2021, and the dedicated BEV is destined for many regions.
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