Portfolio Learning

How SMV is leading the charge for e-vehicles in India

Indian lady driving tuk tuk with two male passengers

Founded in 2015, SMV Green Solutions (SMV) has been pioneering the growth of the e-rickshaw sector in India, enabling sustainable development outcomes for low income communities, women and the environment, as well as demonstrating the business case to accelerate EV adoption beyond metropolitan cities.

This new learning report looks at how, with SF and UK Government support, SMV has expanded its flagship Vahini project (promoting female ownership of e-rickshaws) to include 65 women across three cities, and how it piloted its first semi-urban branch in Chandauli.

It provides valuable insights to support the growth of the Indian e-rickshaw sector as a whole, including how SMV has addressed challenges of:

  • Access to affordable finance
  • The lack of supporting infrastructure
  • Raising potential customers’ awareness
  • Driver’s irregular income patterns

SMV’s growth plans and path to profitability will be tested in the coming months, however it has built a successful model around which it continues to overcome barriers and drive growth of the e-rickshaw market.

With multiple players now present in EV infrastructure development (assembly, charging and distribution), and innovative battery technologies and financing bodies now entering the e-rickshaw space, further collaboration will be essential to help drive forward SMV’s own strategy as well as continue to develop the Indian market.

Download the full report [5MB]