Sampoorna EV Shifts to Fully Bootstrapped Model Amidst Industry Dynamics

Dr. Piyush Dwivedi’s Investment Return Marks a Strategic Move for Sampoorna’s Autonomous Growth

In a strategic move echoing the changing landscape of the electric vehicle sector, Sampoorna EV has transitioned into a fully bootstrapped entity, effective December 28, 2023. Dr. Piyush Dwivedi, Promoter and Chairman of NexGen Energia Limited, who initially invested in Sampoorna EV with a 25% stake valued at 6 Crores, has seen his investment returned following his decision to independently venture into the EV industry.

Founder and Managing Director of Sampoorna EV, Vikas Gupta, expressed the significance of this development, stating, “The return of this investment is a significant milestone for Sampoorna EV. As a fully bootstrapped company now, we are steering towards a path of self-reliant growth and innovation in the electric vehicle sector.”

Sampoorna EV has experienced rapid expansion and revenue growth over the last six months, boasting an impressive addition of 50 new dealership and distribution points. Clocking a revenue of Rs. 4 Crores during this period, the company’s success underscores its robust business model and market acceptance.

The return of the investment not only marks a financial restructuring but also grants Sampoorna EV increased autonomy and flexibility in operations. This shift aligns with the evolving dynamics of the electric vehicle industry, positioning the company to harness opportunities for growth and expansion.

The electric vehicle sector in India is witnessing a pivotal moment, with a heightened emphasis on sustainable and environmentally friendly transportation solutions. Sampoorna EV’s move to a fully bootstrapped model aligns seamlessly with the industry’s trend towards financial independence and self-sustained growth.

With a focus on network expansion, enhanced customer reach, and contributing to the overall growth of the electric vehicle sector in India, Sampoorna EV, now a fully self-reliant entity, is poised to navigate the challenges and opportunities presented by the rapidly evolving electric vehicle landscape.