Sachin Bansal is surely doing it right with his $1 billion war chest. The man is investing money in the right businesses by the looks of it. There are a lot of businesses which are in the right business but are not in the right frame. The framing of a business is quite important and if it is not, then they struggle. That being said, there are a lot of things a business needs to understand. There needs an angel seeing upon the progress, someone who has a deeper knowledge of businesses.
Sachin is one such person who invests and guides the business to a place where it cannot fail or crumble when there are problems. Flipkart is his creation and even though it went through a major change which was coupled with the FDI policy, the homegrown e-commerce company remained and remained well. That being said, Sachin is a leader and he has recently invested in Ather, an electric two-wheeler startup.
The man has a vision and he has invested in what might be the biggest industry in some years’ time. That is the reason.
The reason Bansal invested
Sachin Bansal talked about investing in Ather and the reason for it was the company itself. He saw the people wanting to buy this bike and the technology used in it. He loved how the company has fan clubs and having worked with the company for 4 years, he has seen how the team works and gels together brilliantly. Ather also gives updates to scooter on the fly and Bansal described the experience as shifting from a feature phone to a smartphone.
He said, “The attraction for me was the consumer traction that they got recently. The consumer feedback has been amazing. People have made their own fan clubs. I use the vehicle myself and whenever I have ridden around in Bangalore, it turns heads, people want to talk about it.
“They are giving over-the-air software updates on scooters. This is like using a smartphone after using a feature-phone all your life. Both can make calls, but you can’t compare them. I have been with the company for more than 4 years now and I have seen them closely. This is also the most complete team in India by far. They can do R&D, design the product, manufacture their own batteries, make their own software, handle vehicle assembly and they have their own retail presence.”
He was talking to ET. He also talked about his target with the company when he said that this market is capable of handling multiple companies and is going to be huge in the coming years. There are going to be buyers who will understand the math and would want an electric scooter rather than a petrol scooter.
“I believe this market is going to be huge. There will be space for multiple players. India’s auto sales in five-six years will be 30 million or so and we are targeting a million out of that. I am sure the market for electric scooters will be greater than a million units. But I think Ather will be uniquely positioned to lead,” Bansal said.