Created under the leadership of Hemanth Aluru and Sudhindra Reddy Pidapa, experienced entrepreneurs in the mobility industry, Turno is a fintech startup that offers electric vehicle solutions for operators and owners.
Aiming to turn all gasoline miles into electric miles, Turno offers one stop destination to buy all best-selling commercial electric vehicles available in the market.
Talking about catalyzing the growth of India’s commercial electric three-wheelers market in the recent years, Aishwarya had a casual talk with the founders of Turno, Hemanth Aluru & Sudhindra Reddy.
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SMEs account for 90% of India’s logistics market, keeping this in mind, how is Turno catalyzing this fact and what makes your firm different from others?
India’s logistics market accounts for a high percentage of fuel spending. If commercial vehicles can switch to electric vehicles, it will be a big boon to the environment with the overall carbon emissions going down. However, small and medium enterprises (SMEs) and individual driver-operators find it overwhelming to make this shift. This is where Turno comes in!
Turno is a one-stop platform for commercial EV adoption. We help SMEs and other fleet owners choose the right vehicle, providing low-cost financing options, guaranteed buyback and other services. Our aim is to make the shift from ‘gasoline’ to ‘electric’ affordable and accessible. We provide a wide array of multi-brand vehicles at the best prices through our unique EV sales platform (both online and offline).
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Considering the recent changes in India’s EV policy and incentives, mention your opinion on India’s EV landscape and state Turno’s contribution to this cause?
The recent changes in India’s EV policy and incentives, such as the FAME subsidies, have been critical for the growth of the EV industry in the country. Turno believes that some of these subsidies can be better targeted towards the commercial vehicle segment, which accounts for a significant portion of India’s transport fuel spending. By providing affordable and accessible electric vehicles to commercial customers, Turno is contributing to the growth of the EV industry in India and helping to achieve the country’s sustainability goals.
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Mention some of the key segments of the EV industry Turno focuses on and name some of Turno’s major partnerships with auto OEMs?
Turno is primarily focused towards the commercial 3-wheeler electric vehicle segment. The company offers a wide array of multi-brand vehicles and has forged partnerships with OEMs such as Mahindra & Mahindra, Piaggio, Omega Seiki Mobility, Euler, and Etrio, among others.
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As you have multiple brand options present with you. How do you assess and suggest which product will suit best for your customer?
Turno’s team of experts assesses the specific requirements and needs of each customer, including factors such as the vehicle’s payload, range, and charging infrastructure availability. Based on this assessment, the team suggests the most suitable vehicle for the customer’s needs from the multiple brand options available.
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Explain your financing model and what’s the selection criteria for financing Turno adheres to?
Turno works with reputed large financial institutions to significantly enhance financing availability for the commercial EV segment. The financing model includes loan options, with repayment periods ranging from 3 to 5 years. The selection criteria for financing Turno adheres to include factors such as the customer’s credit score, repayment capacity, and collateral.
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On the services front, kindly let us know if the customer has to go to the respective brands for service or there is a support team at your end also.
Turno ensures that its customers receive convenient and reliable after-sales service. With our door-to-door service and a network of expert-led service centers, we strive to provide exceptional maintenance and repair assistance. Additionally, we work closely with original equipment manufacturers (OEMs) to ensure that warranty claims are effectively enforced, as this process can often be challenging for individual owners to handle independently.
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Kindly let us know Turno’s future plans?
Turno aims to expand its footprint across India and increase its market share in the commercial EV segment. The company is also focused on developing a new battery technology to address concerns around battery life-cycle value and end-of-life management. Additionally, Turno plans to forge more partnerships with reputed financial institutions and OEMs to enhance the accessibility and affordability of commercial EVs.