Anmol Singh Jaggi is the founder of EV manufacturing company Gensol Engineering and BluSmart ride-hailing company (backed by Tata Motors). He is a serial entrepreneur. In addition to Tata Motors, Mukesh Ambani is also an investor in BluSmart. As a result, the company has crossed an annual revenue run rate (ARR) of Rs 400 Crore. What is interesting is the fact that even though Tata Motors is an investor in BluSmart, Anmol Singh Jaggi has gone on to establish an EV manufacturing company. Gensol Engineering has rolled out a teaser of its first EV which will debut in March 2024.
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Gensol Engineering of Anmol Singh
The electric car will be manufactured at the company’s plant in Chakan, Pune in Maharashtra. This is where a lot of prominent Indian automakers also have their plants. This EV will have a decent range of 200 km on a single charge. Apart from that, the other crucial details include in-cabin driver assistance technology, a moonroof and many such modern amenities. These play a deciding role in today’s day and age where customers are looking to experience the latest gadgets and gizmos.
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Anmol also has a younger brother Punit Singh. He is a partner in BluSmart and Gensol Engineering. BluSmart has set up over 3,900 EV charging points across 32 charging hubs in two cities. The next step is to increase its fleet size to 10,000 in FY24. That already indicates the expansive plans of the company. As per some reports, the market valuation of BluSmart is approximately Rs 2,074 Crore as of May 2023. Therefore, Anmol Singh understands the existence and importance of both his companies.
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Author’s Note
EV wave is gripping the entire world. This has been particularly true in the last couple of years. On one hand, the legacy carmakers are rapidly transitioning to electric powertrains. They are investing heavily in R&D and EV infrastructure. On the other hand, this industry has opened opportunities for new players to enter the market. Gensol Engineering is one such case. In fact, in the two-wheeler EV space, Ola is a prime example of how huge a startup can become. Therefore, the future of mobility looks electric and there are exciting times ahead for the customers. They will have immense options to choose between various electric automobiles.
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