Madhumita is a seasoned entrepreneur with over seven years of experience in the electric vehicle industry. She drives sales, marketing, finance, and company expansion at Oben Electric. Previously, she built a successful technology research and consulting company, serving global clients, including Fortune 500 firms.
In a thought-provoking interaction with Women Entrepreneurs Review Magazine, Madhumita shares her insights on the future of electric two-wheelers, key differentiators in the EV market, and the balance between innovation and operational efficiency. She also discusses the challenges of transitioning from tech advisory to EV manufacturing and strategies for expanding into new market segments.
How do you envision the future of electric two-wheelers evolving over the next 5-10 years?
The next decade presents an incredible opportunity for the electric two-wheeler segment, particularly in India, where motorcycles account for nearly 70% of the two-wheeler market. As a staple in most households and the primary mode of commute for millions, transitioning this vast segment to electric vehicles holds immense potential to accelerate the country’s shift to sustainable mobility. This transformation will be fueled by right product in the right price point, favorable government policies, the rapid evolution of EV infrastructure, and continuous innovation in battery technology and design.
We recognize this enormous potential and are committed to leading the charge. Guided by our "Design in India for the World" philosophy, we aim to redefine electric mobility by developing high-performance, reliable, and sustainable electric motorcycles tailored to meet the unique needs of Indian consumers while setting global benchmarks.
How do you balance innovation with operational efficiency, particularly in the highly competitive EV industry?
As an R&D-driven organization, innovation and operational efficiency go hand in hand. Our approach focuses on two key paths: expanding our product range and consistently enhancing our offerings with cutting-edge technologies. Firstly, we are strategically expanding our product portfolio to cater to various segments of the motorcycle market, which is divided into four main categories: 100cc (40%), 125cc (20%), 150cc (20%), and the premium segment. We have successfully launched motorcycles in the 150cc and 125cc segments, and our next focus is on the high-potential 100cc segment. This includes plans to introduce a sub-₹1 lakh model, designed to provide the mass market with an affordable yet high-performance electric motorcycle option.
Secondly, our robust R&D roadmap ensures we consistently innovate to improve product quality, integrate advanced technologies, and enhance cost efficiency while delivering an exceptional customer experience. We pioneered the use of high performance LFP battery technology in electric two-wheelers in India, which not only improves longevity and safety but also aligns with sustainability goals. Vertical integration within Oben supports these efforts by streamlining manufacturing and enabling better control over quality and costs.
Additionally, we are exploring export markets and tailoring our products to meet the unique needs of these regions, further strengthening our position in the global market. As a "Make in India" brand, this holistic approach allows us to balance innovation with operational excellence, ensuring that we remain competitive while delivering reliable, high-quality products to a diverse consumer base.
What have been the most significant challenges in transitioning from a tech advisory business to an EV manufacturing company, and how did you overcome them?
Transitioning from IPExcel, a company specializing in R&D services, technology, and IP consulting in advanced fields such as EVs, to spearheading Oben Electric, an EV manufacturing venture, has been a journey filled with both challenges and rewards. At IPExcel, apart from other future technologies, EV was also a growing vertical, where we executed 70+ projects in the entire value chain including batteries, motors, infrastructure, IoT etc. This experience helped us to build a foundation in structured research and R&D further giving us an understanding of the EV landscape, various gaps in the market and also in identifying greater business opportunities. As the industry was very nascent and the EV ecosystem had not fully developed there was dearth of reliable tech, skillset and resource. However, my prior EV R&D experience helped in hiring the right talent, identifying the problem statement which addresses to a larger market segment and developing the right solution. The previous structured research experience during my IPExcel times paved the path to build a vertically integrated company by designing, developing, and manufacturing not only the electric motorcycles in house but also the key components like batteries, motors, vehicle control units and chargers. This ensured quality control, innovation, and cost efficiency. The second challenge was aligning with market demands.
My IP Excel journey has been instrumental in strengthening my belief that R&D and continuous innovation is the way to build a global company.
How does EV sector incorporate sustainability into its business model, not just in terms of product design but also in its supply chain and operations?
Sustainability is becoming a critical factor and rightly so. Without making sustainability a prime objective, we will not be able to support the pace of growth in this world. At Oben, we prioritize sustainability through advanced battery technologies and designs that are eco-friendly and an efficient production process. Through LFP batteries, we reduce the environmental impact of cobalt and nickel, while enhancing safety. Furthermore, we follow an energy-efficient manufacturing and supply chain process, that is aligned with our broader mission of minimizing carbon footprint of transportation.
How do you assess the viability of expanding into new markets, and what steps do you take to ensure that your products meet the unique demands of each segment?
While assessing market viability, we primarily focus on addressing consumer needs, such as affordability, range, and infrastructure compatibility. Oben Rorr, our flagship model, addresses these by being competitively priced and offering the best-in-class range and reliability. We have recently launched Oben Rorr EZ, which addresses the woes of everyday commuters, making riding completely “easy” and convenient. By expanding our offline presence, we further try to bridge the gap between our customers, forever listening, engaging, and utilizing the customer experience insights to deliver on our promise of innovation, excellence and reliability.
What advice would you offer to aspiring entrepreneurs, especially women, who want to make a mark in the technology and manufacturing industries?
My only advice for the young and emerging entrepreneurs, is to believe in their vision and persevere through challenges. It’s important to build expertise, have a solid foundation; however, it is equally important to stay flexible and adapt to the changing circumstances. Build a culture of innovation, foster independent and critical thinking, and lead by example.
