It’s a tale that traverses early angel investment rounds, engagements with industry giants in the B2B space, and, of course, the challenges posed by the pandemic, Pratik Gupta, Co-Founder and CEO of Gensol EV, recounts his journey from Strom Motors to Gensol EV in an exclusive interaction with ETAuto at The Bharat Mobility Global Auto Show 2025. Gupta shares how his team’s interactions with BluSmart as a potential client led to a lasting relation with the acquisition of Strom Motors by Gensol Group to form Gensol EV.
“We had approached BluSmart as a potential client and our discussions with them were progressing well, and even Ola’s strategy team reached out to explore the car’s potential,” shares Gupta. He adds that it was during these conversations that the team began seriously considering the B2B market. “They shared some insights that got us thinking—70% of the riders are single occupants, and many entry-level car users prefer sitting in the front seat because the air conditioning is more effective. They highlighted that at our price point and operating cost, the total cost to fleet operators could be reduced by 40%. This cost-saving could either be passed on to customers or translated into higher profitability.”
Initially, Strom Motors had positioned the Strom-R3 as a three-wheeled personal mobility solution. However, the shifting market dynamics presented a new opportunity. “This product turned out to be a crucial tool for the B2B segment to reclaim market share,” Gupta notes. “If you recall, before the COVID-19 pandemic, cab fares were around INR 18 to INR 20 per km. Now, they’ve risen to INR 30 per km. This significant price increase led to a sharp decline in ride volumes and demand. But with our offering at the right price point, fleet operators can attract four times more volume to their platforms. That’s when the B2B segment became a serious focus for us.”“Anmol Jaggi, the founder of BluSmart and Gensol (Chairman & Managing Director), we started discussions with them about working together for BluSmart’s fleet,” shares Gupta. “As conversations progressed, they realized this was a great opportunity to expand their business. If you look at Gensol’s portfolio, it primarily revolves around renewable energy—solar, wind, and energy management. Now, they are also venturing into battery storage, our products fit perfectly within their ecosystem. Since BluSmart is one of their direct clients, the synergy between the two companies was undeniable.”Gupta further explains, “That’s when we decided to establish a much closer relationship. Eventually, Gensol acquired Strom Motors, and the company transitioned from Mumbai to Pune to set up a manufacturing plant in Chakan.”
When asked why Chakan, near Pune in Maharashtra, as the company’s new base, Gupta explains, “The decision to set up in Chakan was a strategic one. As we planned expansion to meet BluSmart’s large-scale vehicle requirements and the growing demands of the mobility sector, we needed to think big. Chakan stood out as one of the strongest automotive hubs in India, offering a robust supplier base and a rich talent pool.”
Post-COVID, Gupta’s team had downsized to just seven people, but today, “we are close to 200 people. Such rapid scaling could only be achieved within one of India’s key automotive ecosystems—Delhi, Pune, or Chennai. Pune emerged as the ideal choice, and now, nearly 70% of our suppliers are located in the Chakan area, making supply chain management and inventory handling significantly more efficient.”
“The original Strom Motors team is still with us, and they’ve had the opportunity to witness and contribute to this incredible growth,” he exclaims.
He further adds, “Following the acquisition, we established our offices, R&D centre, and manufacturing plant in Chakan. We now have a fantastic execution team, with senior professionals who have worked with leading OEMs such as Stellantis, Mahindra Group, Tata Motors, and Mercedes-Benz. These are industry veterans with over 20 years of experience, having worked across multiple car platforms. Their deep understanding of the supplier landscape has been invaluable—especially for a growing company like ours, where not every supplier is willing to collaborate initially. Today, we are proud to have marquee suppliers such as Minda and Kalyani supporting us.”
‘ezio’ and ‘ezibot’ launch strategy
Speaking about the launch of ‘ezio’, the company’s three-wheeled electric car, Gupta shares, “We are showcasing it at The Bharat Mobility Global Expo 2025. We already have 30,000 orders across both our passenger car and cargo platform, ‘ezibot’.”
He further reveals that the ‘ezio’ car is set to launch in the second half of the year, with Bengaluru being the first city to roll out the vehicle, followed by Delhi and other key markets. Meanwhile, the cargo variant, ‘ezibot’, is scheduled for launch in 2026.
“Our car has undergone rigorous testing in extreme conditions—from the peak summer heat of Jaisalmer to the heavy monsoons of the Western Ghats,” Gupta states proudly. “We have also successfully received our ARAI certification.”
Battery technology and sustainability
On the battery technology, Gupta shares that the car comes with LFP (lithium iron phosphate) batteries. “In Strom days, we were on NMC (lithium nickel manganese cobalt oxide) batteries and this shift has mainly been around safety, stability and more charge cycles. Like now, our batteries have 3,000 charge cycles as compared to 800-1,000 charge cycles back then. This is important for fleet operators as it provides longevity to use lifecycle,” points Gupta.
Gupta further adds, “We are also collaborating with ecosystem partners to explore second-life applications for our LFP batteries. The choice of a 48-volt system plays a crucial role in this strategy, as these batteries can be seamlessly repurposed after 5-7 years of vehicle use. They can be directly utilized in applications such as mobile tower power backup and energy storage solutions.”
He emphasizes their commitment to sustainability, stating, “We have already partnered with a recycler, but our primary focus is to invest in battery reuse rather than recycling. We are currently in discussions with two suppliers to drive this initiative forward.”
When asked whether their platforms can accommodate solid-state or sodium-ion batteries, Pratik Gupta explains, “Our platform has been designed with flexibility in mind, allowing us to integrate multiple battery technologies. Unlike traditional setups where the battery pack is built into the chassis, our design incorporates it as a separate unit within the frame. This means that if the swappable battery ecosystem gains traction in the future, our vehicles can seamlessly adapt to it. Similarly, if solid-state batteries become mainstream, we can quickly transition to that technology.”
Highlighting the importance of understanding customer needs, Gupta emphasizes, “Fleet operators are our primary customers, and their specific requirements must be taken into account. They have their own strategies and ecosystem partners, especially when it comes to swappable battery solutions.”
Cell manufacturing and future prospects
Speaking about cell manufacturing in India, Gupta shares, “We are in discussions with one of the largest battery manufacturers in the country, and once their plant is operational, we will be among the first to utilize their cells. We have already aligned with our battery partners to seamlessly integrate their cells into our systems—technically, everything is in place.”
He acknowledges the current lack of cell manufacturing in India but remains optimistic about the future. “While it’s true that India does not yet have large-scale cell manufacturing, it doesn’t mean that the government and industry stakeholders are not taking action. Several major players are in the process of setting up cell manufacturing plants. The delay is primarily due to the time required for setting up infrastructure, streamlining supply chains, and rigorous testing processes,” Gupta explains.
Reflecting on the absence of a two-way charging system that supports Vehicle-to-Grid (V2G) capabilities, Gupta acknowledges this as an area for future exploration. However, he emphasizes the advanced technology backbone of their vehicles, which offers a host of intelligent features.
“Our system allows users to align charge times efficiently and detect potential issues—whether it’s air conditioning malfunctions or other operational concerns—through a seamless dashboard interface,” Gupta explains. He further highlights that the dashboard is designed for easy integration with various fleet management systems, ensuring smooth operations for fleet operators.
EVs over hydrogen for now
On the strategy beyond electric vehicles (EVs), Gupta clarifies, “We are focused solely on EVs and not hydrogen. However, there is a group company within our ecosystem called Matrix Hydrogen, which specializes in hydrogen infrastructure deployment, EPC management. We are closely integrated with that ecosystem. Gensol, as a group, is built around sustainability, and having a leader in the group gives us valuable insights into the technical challenges of hydrogen technologies.”
He goes on to explain, “The maturity of both the product and the ecosystem is crucial, especially when you are catering to B2B partners. You need to ensure the partner is ready to invest in the infrastructure required. At this stage, hydrogen seems to make more sense in buses and trains, given the scale of investment needed. For dense urban areas, we believe light EVs are a better fit, as the infrastructure to support hydrogen still has a long way to go.”
