The importance of multi-brand EV stores in giving emerging brands a platform for growth in the EV industry

There are plenty of EV makers in India and most of them don’t have the volumes, the brand recall, showrooms and service centre networks. For such EV companies, multi brand EV stores are no less than a blessing.

Electric Vehicle enthusiasts can walk into these multibrand EV stores and choose from multiple electric vehicle brands under one roof. These stores are similar to mobile phone shops, where you can find mobile phones of different brands, of different types and their accessories. These multi brand EV showrooms feature a variety of electric two-wheelers (scooters, motorcycles & electric bicycles/e-bikes) and three-wheelers of different brands and also provide accessories and servicing. Some stores also have EV charging facilities.

Such multibrand dealerships provide a platform for fledgling EV companies to help widen their market and service network in relatively less time and at lower capital costs.

Some popular companies in this sector are BLive, Electric One, BikeWo, Mad About Wheels, eWheelers, AutoEVMart and Metro Electric. Most of these offer a ‘phygital’ experience. Phygital (physical + digital) is a term that describes blending digital experiences with physical ones, similar to the business model that Lenskart follows.

Other sources of revenue for such companies, besides vehicle sales, include servicing, EV charging, battery swapping, brand promotion and roadside assistance.

Some of these stores are company-operated, while some are franchises.

Let’s have a look at the most popular ones:

BLive:

The company describes itself as an EV retail chain which is enabling individuals and businesses to switch to electric mobility by providing multi brand EV options, charging solutions, financing solutions and much more. The company’s online e-store as well as its franchise network is growing rapidly. Blive is present in 20 locations across India and plans to launch 100 EV stores by 2024.

BLive showrooms have brands like Ather, Revolt, Kinetic Green, Hero Electric amongst others. Customers can find electric scooters, motorcycles, e-bicycles, 3-wheeler cargo & passenger vehicles, electric golf carts and accessories under one roof.

Electric One:

Scan the barcode and download the EVJoints app to find 6,000 EV charging stations across various networks.

Click & download the EVJoints app to find 6,000 charging stations.

Electric One is an Indo-German multibrand e-mobility chain which provides a wide range of electric two-wheelers, e-bicycles & e-rickshaws under one roof. Brands offered are Okinawa, Mayuri, Gemopai, Kinetic Green, Motovolt amongst others.

AutoEVMart:

Greaves Electric, which owns the popular electric two-wheeler brand ‘Ampere’, has also jumped in this sector and owns a multibrand retail chain known as ‘AutoEVMart’. The company inaugurated its 1st store, one of India’s largest multibrand showrooms, spread over 8000 sq.ft. in Bangalore.

Companies like Hero MotoCorp, Bajaj & TVS already have a widespread dealer network to showcase and sell their electric two wheelers. Hero MotoCorp chose to go a different way by branding its EV division as Vida and setting-up a separate network for it. These companies have the necessary resources but newcomers in the EV sector may not be able to start a showroom chain or service centres. This is where entrepreneurs found an opportunity in the form of multibrand EV stores. This model is a hit in many countries and is now gaining prominence in India. For instance, EVEN Electric tested a multibrand electric car showroom concept in Iceland in a pilot program in 2013. The program was successful. Now the company has multibrand dealerships in Canada, Belgium, Ireland, Norway, Panama, Ukraine & UK.

Conclusion:

In developed countries, multibrand automobile showrooms are a success story. As far as electric vehicles are concerned, electric two-wheeler stores as well as electric cars are being sold globally through multibrand models. Now this concept is picking up in India and so far sales of multibrand electric two-wheeler stores are impressive and the businesses are profitable. As EVs become more popular in India, expect such stores to gain more credence and become the ‘go to’ place for new EV companies.