Page 28 - ITLN Jan-Feb 2023 for Magzter

Interview
Visakh Sasikumar

How did Fyn Mobility identify the gap in conditions are not favourable maintenance and charging
the industry, and what services does it and we don't have orders, we of the fleet.
provide? don't get paid. So, these are
What happens if the EV catches fire? What some of the bigger problems If you are a service
if the vehicle stops functioning after two in the industry since it is provider to Amazon, will
years? These are the most frequent EV entirely variable, everything the end customer need to
concerns. After two or three years, the finally affects people like pay a part of the charges
value of the EV is extremely low compared us. So we are trying to build for your service?
to selling an internal combustion (IC) tech in such a way that we This is a current problem
engine, and the resale value will be very understand every risk. We are in the market. As an end
low, which is another concern. As a result, redefining the logistics industry customer, you will pay
most B2B players do not wish to purchase to make sure that as soon as the same cost whether it is
EVs. They want to rent out EVs since they companies like Amazon or Flipkart delivered with an EV or an IC
don't know how to maintain them and are think about deploying, the vehicles engine. This is why differential
unsure of their worth. are available in the market. The data pricing is necessary. We want to
This is where Fyn Mobility comes in, transparency is zero because they don't enter the Open Network for Digital
since we created these vehicles, we know know whether the service provider Commerce (ONDC) platform shortly,
how to maintain them, and we are now has got the vehicles and whether it is where the buyer will be able to see Fyn's
attempting to anticipate the life of the registered and how many vehicles will cost, as well as the vehicle and IC engine
vehicle from a specific application. We come on a particular day. We are trying to costs. There will be a price reduction
are developing this platform to assure be the BlueDart in the logistics industry since the client will be aware of the
that over the next two years, we will be with the tech. pricing of Fyn versus an IC engine. As an
able to precisely estimate the number of end user, you currently have no idea.
days the EV will operate in this specific How are you different from the other
application and that we will be able to service providers? Can you tell us who are the investors of
command differential pricing in the We are now the safest accessible fleet your company?
market with zero downtime reliability. in the country since we come from a Fyn Mobility has raised $2.76 million
manufacturing background with EV till date from leading investors such
What are the challenges that you are manufacturing experience. We promise as IPV and has seen participation
facing in the market? reliability because we will not only deploy from prominent family offices such as
One of our biggest challenges is dealing the vehicles; we will provide complete Sattva Group & Nanavati family and
with the drivers. Drivers now want the statistics on how the vehicle will operate. syndicates including Sincere Syndication
flexibility that Ola and Uber provide, so The next step is sales, as we are quite and Conscience Multi-family Office.
they can select their working hours and familiar with the EV architecture. We Industry stalwarts Arshad Sayyad, Vijay
earn more. The main issue for the drivers are now attempting to acquire data that Ratnaparke, Shaji Koshy and professor
is that they must consider two factors, others are unable to share. Ashok Jhunjhunwala have also invested
security and freedom. Some individuals We are developing technologies on in these rounds.
grant freedom, which means there is no top of what a normal fleet produces. It
basic guarantee of payment; you are paid will be so smart that we will be able to Please share your next move and
depending on the number of orders that provide customers with a sense of what future plans
you deliver. kind of situations may impact them, as We are also working on India's first Fyn
We're trying to find hybrid models well as a few preventative maintenance certificate, which will assess vehicles,
in which the driver is linked with us solutions. We are more than simply establish technical specifications, and
for as long as they want. Some parts a service provider; we can take care indicate that the vehicle is safe for
are flexible, while others are fixed. In of everything. We provide hassle- certain purposes for X number of days.
addition, we are establishing India's first free last-mile solutions with drivers, Furthermore, we are attempting to
driver community. We feel that drivers become a logistical player for MSMEs
can make or break this business. and small firms. We aim to cross-utilize
these EVs more for small enterprises
How are you preparing your company to and charge solely for delivery. That is
overcome challenges? what we are going into when we have
The vehicle is our responsibility. If a a larger fleet, B2B will be one place,
vehicle doesn't run, and we will also offer vehicles, which
we don't get paid, are free for us, to all MSMEs, or
if the driver doesn't small firms, who will be able to
come we utilize them at a lesser cost. As a
don't get result, rather than being only a B2B
paid, if the player, we intend to expand as an
weather ecosystem player. 
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