Siddhartha Bagri, Co-Founder & CEO of Pravaig Dynamics on Building Mobility Solutions

Millionaire Mondays by Backstage with Millionaires

Why was Pravaig Dynamics started: Pravaig started their journey of making electric cars back in 2011. At first they just wanted to make a good enough electric car as there weren’t any good electric cars in India and the world at large. Setting China aside, there weren’t any good electric cars in the market apart from Tesla’s Roadster or Nissan’s Leaf.

Key challenges Pravaig wants to solve – Resources (Money), Sovereignty (Ownership) and Time: Any car that a consumer owns costs money and they are spending money every year on its servicing to paying their EMIs, all the while the value of their car is decreasing. People spend over 90 minutes on average on the roads, which is a large portion of our lives. Now as more and more cars and also other devices adopting technology, consumers have little to no control/ ownership over their own data and how it is used.

How Pravaig is doing things differently to address these challenges: Interestingly, over the course of its lifetime, a car is used merely 4% of the time and rest of the time it is just sitting in your garage. Which is why Pravaig decided to take ownership out of the equation. Customers can ride their cars without owning them, which would save their customers time and money while providing comfort on the road.

Pravaig’s electric mobility solution and their partnership with fleet operators: Unlike most electric vehicle startups that are selling directly to the customers, Pravaig is partnering with fleet operators who will be operating their cars and provide mobility service to the end customers. They might even partner with service providers like Ola and Uber.

What’s stopping electric vehicles to take-off in India: There are actually a lot of electric mobility solutions available in India across various regions like modified e-rikshaws in parts of north India. In fact, Reva was one of the pioneers in the electric vehicles space in India. The reasons why the electric vehicles haven’t taken-off in India is the fragmented markets – every region, class and section of the country has unique needs and lack of reliable and trusted electric vehicle makers.

Is Pravaig really India’s answer to Tesla?: Unlike Tesla which is focused on building electric cars and accelerating EV adoption, Pravaig is more focused on solving the challenges around data and providing more control to the users. While an electric car is their first product, we can see them venturing into different niches where they can leverage data and artificial intelligence to create an open ecosystem.

Future of Pravaig: Pravaig is not just an EV startup but is looking to use its expertise to enter the RoboTaxi and autonomous vehicles market in the future at large.

Future of cars - AI and data: Siddhartha believes that in the future users will have a lot more control over their cars. They will be able to chose everything from their energy provider, charging provider and the increasing role of AI.

If you want to find out more about Pravaig Dynamics and Siddhartha Bagri, here are the links you can check out: Pravaig’s website: https://pravaig.com Register for a ride: https://www.defy.city Siddhartha’s Twitter: https://twitter.com/sid_bagri

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