At the Connecting Ideas With Money, Lounge47 session, held on the 4th of May 2022, founder Sameer Arif of Bangalore-based automotive mobility startup pitched SWYTCHD – that removes the three main barriers to EV adoption: 1) large upfront financial costs 2) long-term time commitments 3) range and charge anxiety. The startup
is at the early revenue/traction stage.
website: www.swytchd.com
The startup is targeting anyone looking to make the shift to EVs but those that are facing difficult financial and time commitment decisions generally in the age group of 25-45.
All-inclusive, fully digital monthly subscription. One payment includes vehicle, insurance, servicing, breakdown support and free charging! We even refund the electricity costs of driving the vehicle. SWYTCHD offers flexibility and usership with all the benefits of ownership. Customers can renew monthly, switch between vehicles every month if it suits or stop their subscription outright.
“EVs are 30-50% more expensive than combustion engine vehicles. Add to that significant range and charge anxiety, people are reluctant to make the switch en-masse,” says Sameer. “Simple, remove large upfront costs totally using a no deposit model. Remove long term time commitments by having a 1-month subscription. Remove range and charge anxiety by providing comprehensive charging network access. Make it hassle free by providing everything, including charging refunds!
As part of the senior leadership team at Jaguar Land Rover, Sameer got two vehicles that he could change every 6 months or 6k miles. So, the thought came up, why can’t everyone do this? Why not 1 month? and why not EVs? Sameer is also asthmatic with air pollution making life difficult in cities. If enough switched to EVs, this would significantly improve air quality.
“We’ve had great market feedback! Over 500 people joined our waitlist in December-January 2021. We personally spoke to more than 400 people…prioritised 90 of them as immediate requirement. Since then, we have delivered every single vehicle…22…to our customers. I have sat in porter trucks to pick up vehicles, deliver them, take them for servicing…washed and cleaned vehicles…rescued a customer who ran out of charge… dealt with the transport authorities and learned enough Kannada to get through in Bengaluru. We make 1.55 lacs of recurring revenue, we have 5 star reviews and a 95% renewal rate. We are overly excited for the future,” says Sameer.
Team:
The team is a father son duo who are car enthusiasts. Their passion is such that they can look at a vehicle and tell the model and in some cases even the engine output!
Sameer Arif, Founder & CEO
Automotive industry veteran, 10 years. Jaguar Land Rover (JLR)
Held multiple senior management positions in the company
Youngest manager at JLR and youngest senior leadership member
Tata Innovista winner 2018
Bachelors, Business and Management, Henley Business School, University of Reading
Arif Shouqi
25+ years’ experience in deep tech and networking technologies
Currently Senior Technical Leader at Google
Previously held several senior leadership positions at leading companies
Retired Squadron Leader, Indian Air Force
MTech, IIT Delhi, BTech, AMU Aligarh
