Investors Alert: From Dream to Reality: How Rewired Is Revolutionizing Electric Vehicles in India
Meet Mr. Satvik Jain, Founder of Rewired
Contact Information
Name: Saatvik Jain
Email: saatvik@getwired.in
Website: getwired.in
What inspired the creation of Rewired?
I started my journey as an engineer with a dream: to convert a conventional petroleum scooter into an eco-friendly electric scooter at an affordable price. My goal was to make it accessible for everyone while establishing the first licensed brand in India.
What were the initial challenges faced by you for this venture?
The early days were challenging. Venturing into an innovative field like this came with its own set of hurdles. I worked tirelessly to bring this concept to the market, a concept that was entirely new and unfamiliar to most people. Convincing people of its benefits—for both themselves and the environment—was a significant challenge, but one I was determined to overcome.
How has Rewired achieved business growth?
Despite the difficulties, we managed to make significant strides. We became the first company to get RTO approval in Karnataka, securing around 4-5 licenses. Our ability to retain customers and expand into new areas has been a key factor in our growth. Today, we are expanding our business into the three-wheeler and four-wheeler markets. Our next goal is to establish a presence in Tamil Nadu, Maharashtra, and Telangana.
What makes the industry model of Rewired unique?
This was a completely new business model, unlike anything previously seen in the market. We recognized an opportunity to capture the market early on, especially with fewer competitors compared to the broader automobile industry.
How does your team build and maintain customer relationships?
Educating customers has been a priority for us. We focus on informing them about the numerous benefits of electric vehicles (EVs), including their positive environmental impact, cost savings, and the advancements in technology that make them a viable option. We also provide guidance on home charging solutions, including installation services and cost-effective plans.
What challenges has Rewired faced and how have you overcome them?
Introducing this concept to the market was not easy. The biggest challenge was convincing people to convert their scooters to electric, emphasizing the efficiency, lower maintenance, and eco-friendly nature of the transformation. As the EV sector continues to grow, building resilience has been crucial for ensuring long-term sustainability and success.
What successes has Rewired achieved?
Our company was the first to obtain a license in Karnataka and the first to receive RTO approval. We successfully converted 11 different scooter models to electric, setting a benchmark in the industry.
How does your startup impact the community and environment?
Our business is not just about profit; it’s about making a positive impact on society and the environment. By reducing our reliance on fossil fuels, EVs contribute to lower greenhouse gas emissions, helping communities combat climate change and achieve sustainability goals. Moreover, EV adoption can provide reliable and affordable transportation to rural or underserved communities, especially where public transportation options are limited.
What is the future vision for Rewired?
Our vision is to continue expanding across the country, offering safer and more sustainable transportation options. We aim to foster a cleaner environment through our work.
What personal reflections, as a founder, do you have about the entrepreneurship journey?
One of the most rewarding aspects of this journey has been knowing that our business directly contributes to reducing carbon emissions and promoting sustainability. Being at the forefront of innovation in both the EV and luxury car markets is exciting. It’s incredibly fulfilling to build a community of loyal, passionate customers who share a love for eco-conscious, luxury vehicles.
What role has Fintrac Advisors played in Rewired’s success?
Fintrac Advisors has played a crucial role in our journey by helping us manage our financial operations more effectively and ensuring compliance with statutory requirements. Their support has been invaluable in creating and monitoring budgets, maintaining audit trails, and ensuring data integrity throughout all financial transactions.