- The newly launched smart vehicle adapts to the user behaviour and road conditions like no other cycle in the market.
- User experience differentiates an automobile product. TESLA scores our other in user experience. I am happy Ermin Miles, ensures a unique user experience to bicycle riders: Jayesh Ranjan.
Hyderabad, December 10, 2021: The city teens make a mark of their own. At the age where they eagerly look forward to buying a vehicle of their choice, they have created a vehicle of their own. They designed and produced their dream cycle.
The unique electronic smart cycle called Ermin Miles, just like in any fantasy tale, adapts to the user behaviour and road conditions, the roads you have used, the slopes on the ways, the consumption of battery etc. The cycle is very smart as the teens are, offers performance, style and pride with safety and responsibility. It comes out with Ermin Care, an APP called Ermin Miles and Ermin Ripples which provide all services from purchase to resell, remote diagnosis, repair etc.
Their startup Ermin Automotive founded by students and just passed out students is in the e-Automobile space and produced its first product ‘Ermin Miles’, a first of its kind, the electric smart cycle.
Their dream vehicle was formally launched by Mr Jayesh Ranjan, Principal Secretary, Govt of Telangana in a specially organized function held in the city on Thursday at Bhaskar Auditorium in BM Birla Planetarium.
Mr Gopalakrishnan, Director, Automotive, Govt of Telangana; Mr Surya, Mentor, several faculty of ICFAI University also graced.
Speaking on the occasion, Jayesh said few years back when I paid a visit to ICFAI University I told students and management that many are studying engineering but there are few jobs. Instead of seeking jobs I told them to become job givers. Few years later now I am seeing them with an invention. He congratulated Shashank and Aditya, the founders.
Speaking further Jayesh said, user experience is what differentiates an automobile product. When I say this, the vehicle comes to our mind is Tesla. I am happy these young founders who in the age group of just 21 years are focusing more on offering the user experience he said.
Not just in passenger segment, even in goods segment, vehicles are going Electric. IKEA and many e commerce companies are preferring to use Electric Vehicles, Jayesh Ranjan told.
Telangana is becoming a preferred destination for setting up electric vehicles manufacturing. Triton, which is globally considered to be a competitor for TESLA has come forward to set up a plant at Zaheerabad, he said.
The founders of the startup Mr Shashank, B.Tech, the Founder, CEO & Software Developer studied at ICFAI University and Mr Adithya, the Co-Founder, COO & Product Director, Studied BBA from ICFAI University. They are just in their teens.
Their start-up, Ermin Automotive holds two patents—01. Design of the cycle, 02. A new regeneration module that increases the range of the battery by 75%.
Three different ranges of cycles were unveiled. They come in the price range of Rs 60,000 to 75,000/-. Those who wish to buy may register on their website www.ermin automotive.com. The booking starts from tomorrow. The vehicles will be delivered from March 2021.
However, the first 100 customised limited edition vehicles will be made available after ten days till next three months at a cost of Rs 50,000/-.
Have you ever wondered why teenagers and youth move to Motorbikes? The answer is Style, Performance, and Pride. The start-up added ‘responsible’ and ‘sustainable’ to the list. Ermin Miles offers all of these in a bicycle, taking people back to the basics, said Mr Shashank, the Founder, CEO & Software Developer who studied B.Tech at ICFAI University. He termed their innovation as a phenomenal e-bicycle.
‘Cycles were companions to teenagers and youth once upon a time. Motorcycles took the cycles’ spirit with their performance, style and pride. So the teenage founder team built a cycle that would take back that spirit adds, Adithya, the Co-Founder, COO & Product Director, who studied BBA from ICFAI University.
It is built over one year with a team of 20 people with 4 prototypes. We have designed and developed it with sweat, blood and tears across days & nights, both the teenage innovators shared their struggle. It is a cycle that raises the bar for what a cycle should be, they added.
Innovation has been key to the 21st Century. Despite several innovations and developments, the transportation industry remains segmented, inefficient and unreliable. Startups like Uber, Lynk, Zoom, GoMechanic have targeted niche markets to improve parts of transportation. However, we at Ermin Automotive are focused on the consumer experience of commuting rather than a specific product or a service, the duo shared.
Our mission, they say is to engineer the way we move and our Vision is to build a sustainable transportation network and landscape, Shashank and Aditya, the teen session added.
Currently, we have developed an electric smart cycle that adapts to user behavior and road conditions. In addition, to build an experience around the cycle we have a shop for accessories and subscriptions for general maintenance, spare parts and insurance.
Our Unique selling proposition is we aim to deliver an experience of simple, reliable and comfortable commute to all our consumers.
![Net income increases to EUR 443 million due to portfolio measures Initial cost savings generated with “FORWARD!” action plan Mumbai (Maharashtra) [India]: Specialty chemicals company LANXESS had sales in fiscal year 2023 amounted to EUR 6.714 billion, down 17.0 percent from the previous year’s figure of EUR 8.088 billion. EBITDA pre exceptionals decreased by 44.9 percent to EUR 512 million compared with EUR 930 million the year before. The EBITDA margin pre exceptionals reached 7.6 percent, against 11.5 percent the previous year. The weaker demand and the associated reduction in sales volumes as well as higher idle costs led to a significant earnings decline, primarily in the Specialty Additives and Advanced Intermediates segments. In addition, lower procurement prices for raw materials and energy in these two segments influenced selling prices. Earnings in the Consumer Protection segment saw only a comparatively moderate decline. The contribution from the Microbial Control business acquired from IFF at the beginning of July 2022 had a positive effect here. “German chemistry and we at LANXESS have never seen a year of crises like this before. But we are doing all we can to make it through this phase as stably as possible and to be in the best possible position when times improve again. With our “FORWARD!” action plan, we have taken the right steps at an early stage,” says Matthias Zachert, CEO of LANXESS. 2023 was a year of multiple crises for the German chemical industry: Weak demand in numerous customer industries and market regions combined with inventory reduction by customers, high energy prices in Germany, and geopolitical tensions. This also characterized fiscal year 2023 for the specialty chemicals company LANXESS. For the current year, however, the Group expects a moderate increase in earnings. At EUR 443 million, net income in 2023 was significantly higher than the previous year’s figure of EUR 250 million. This was particularly due to the proceeds that LANXESS received from Advent International as a result of the transaction for the formation of Envalior. At minus EUR 843 million, net income from continuing operations was significantly down from the previous year’s figure of EUR 184 million. The decline resulted primarily from the development of operating earnings and impairment on goodwill from acquisitions. LANXESS expects the environment to remain challenging, at least in the first half of 2024. The Group consequently foresees no improvement in the first quarter of 2024 compared with the fourth quarter of 2023 and expects EBITDA pre exceptionals of up to EUR 100 million. Starting in the second quarter, LANXESS anticipates a moderate increase in sales volumes. “We assume that the inventory reduction among our customers is complete, with the exception of the agrochemicals sector. In addition, we expect long-term cost savings from our “FORWARD!” action plan,” says Matthias Zachert. For fiscal year 2024 as a whole, LANXESS expects EBITDA pre exceptionals to be moderately higher than the 2023 figure. “However, earnings will still be significantly below the average level of previous years. In 2024, we will therefore continue to work on our positioning and processes and strengthen our financial base,” says Zachert.](https://republicnewsindia.com/wp-content/uploads/2024/03/LANXESS-CEO-Matthias-Zachert-at-the-annual-press-conference.jpg)