Boom Motors forays into EV space; rolls out Boom Corbett at Rs 89,999

With India pushing towards the target of 100 per cent Electric Vehicle Nation by 2030, Boom Motors, a new high-tech EV brand from the state of Tamil Nadu, has launched its first product. The firm said it aims to accelerate the country’s transition to clean mobility through indigenous high-performance electric vehicles that suits the Indian conditions.

“I believe that climate change is the biggest threat in front of us and have made it our mission to eliminate the largest sources of pollution in India – vehicular pollution,” said Anirudh Ravi Narayanan, CEO of Boom Motors.

The company on Thursday unveiled the Boom Corbett – a durable and long-lasting bike. The bike features a 2.3 kWh– which can optionally be doubled to 4.6 kWh – giving the vehicle a best-in-class range of up to 200 kms. The batteries are swappable and they come with a portable charger that can plug into any household socket thereby removing the requirement for charging infrastructure. The vehicle can hit a top-speed of 75 kmph with the two-battery option, can support 200 kgs loading, and can climb the steepest gradients in our cities.

Narayanan said Boom Motors is the first EV company to offer customers to purchase its vehicles for 5-year EMI. Rates will start at Rs. 1,699 per month – which is less than what many people spend on petrol. For convenience, the firm is offering swappable battery with a portable charger that will allow the bike to be charged anywhere. Today many people struggle with charging in apartments, offices and malls. “We are freeing people of this problem. For peace-of-mind, we are offering service touchpoints across the country, roadside assistance and of course an unbeatably durable bike that will have minimal downtime to begin with,” said Narayanan.

Boom Motors worked non-stop and tirelessly over the past two years to bring this product to market in record time. It has built a factory in Coimbatore capable of manufacturing 100,000 bikes per year. The production has already started, and it is in the process of ramping up. The firm has a localized supply chain and has created hundreds of jobs in the process.

The firm said it has developed a battery tech, where the battery is completely fire-proof. It is able to provide 5-year warranty on it versus 3-years that is typical. Also the battery itself is super intelligent – running its own operating system inside.

“We have done all this in a bootstrapped manner – without any external VC or PE investment – the first company in India to do so,” said Narayanan.

For the Boom Corbett product, it has built the bike to last with an exo-skeletal double-cradle chassis made of high-tensile steel. It’s also packed with intelligent features like petrol savings calculation, accident and theft detection, and parental model. The product has been priced at Rs. 89,999, or even lower with state subsidies.

Boom Motors is opening up bookings for its bike from November 12, 2021. The online booking requires a Rs 499 deposit in order to confirm the introductory discount of Rs 3,000, and to hold a position in queue for deliveries. The company will commence retail deliveries from January 2022.

India’s electric vehicle market could be worth nearly $206 billion in the coming decade if India were to achieve its 2030 EV ambitions, according to an independent study released by the CEEW Centre for Energy Finance (CEEW-CEF). The report also estimates a cumulative investment need of over $180 billion in vehicle production and charging infrastructure until 2030 to meet the country’s EV ambition.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor