Strategic Insight Series
Avesh Memon — Co‑founder & CEO, Rilox EV
Driving inclusive, affordable e‑mobility through multi‑utility electric vehicles and mission‑centric leadership. Avesh blends 15 years of manufacturing + service experience into a patient, service‑first approach to scaling EVs for micro‑entrepreneurs.
Multi‑utility EVs
Service-first Growth
SME & Gig Economy
Sustainable Logistics
Value over Valuation
1) Why this conversation matters
Scaling inclusive EVs needs more than hype — it needs relentless reliability
While many EV startups chase volume and valuations, Avesh Memon’s Rilox EV quietly focuses on building rugged, multi‑utility electric three‑wheelers for micro‑entrepreneurs. He believes that consistent uptime, fair financing and after‑sales support — not headline specs — unlock adoption for small business owners.
This page assembles insights from an in‑depth interview with Avesh and publicly available information about Rilox EV’s vehicles (Spark, Bijli, Trio). These EVs offer 100–120 km range, 500 kg load capacity and are designed for daily use in logistics, kirana shops, farms and gig deliveries. Avesh’s vision is to solve India’s mobility problems through long-term partnerships, training and service networks.
About Avesh
Avesh Memon is the CEO and co‑founder of Rilox EV, an Indian electric vehicle company building affordable three‑wheelers for micro‑businesses and gig workers. He previously spent 15 years running Weld India, a national network of 400 service dealers in manufacturing and repair. This experience informs Rilox EV’s “value over valuation” strategy — sell fewer vehicles, but ensure service and uptime for each customer.
Avesh’s approach to growth is patient: Rilox EV currently has over 7,000 vehicles on the road and sells 400–500 units per month. They operate 75 dealers across India and treat them as service hubs rather than pure sales outlets. His philosophy: invest in quality and uptime first, then scale
Under his leadership, Rilox EV secured a 20,000‑vehicle contract with Hala Mobility, demonstrating that even a smaller OEM can win large orders through reliability and service partnerships. Avesh also plans international expansion via Dubai and Europe, leveraging the same multi‑utility platform with local partners.
Credentials & awards
- Role: Co‑founder & CEO, Rilox EV
- Background: 15+ years of manufacturing & service experience at Vox Weld; partnered with Mosin (CFO) and Ashim (COO)
- Focus: Multi‑utility EV pods, safe & reliable last‑mile transport, gig economy empowerment, green impact financing
Quick Snapshot
Years in industry
15+ years manufacturing & service (Weld India); 4 years EV founder
Core focus
Multi‑utility three‑wheelers for kirana shops, small farms, MSMEs & gig workers
Flagship vehicles
Bijli Trio, Spark, Relax — 100–120 km range, 500 kg payload
Network
75 dealers; 7,000+ vehicles on road; 400–500 units/month; pan‑India service hubs
Partner success
From service networks to impact‑driven EV OEM
2) Journey & lens
From welding workshops to EV pods: a focus on people, quality and service
Avesh’s story begins in the 2000s, when he co‑founded Weld India, a manufacturing and service network for welding machines. Over 15 years, he built a 400‑dealer network that emphasised uptime and training over volume. That trust in service continues to shape Rilox EV’s DNA.
In 2019, Avesh and his co‑founders saw a gap in Indian EV offerings: there were many passenger three‑wheelers but few durable cargo vehicles for small businesses. They launched Rilox EV, focusing on multi‑utility platforms (“Spark”, “Bijli”, “Relax”) that could carry goods or passengers and withstand 100+ km daily use. The startup remained bootstrapped, choosing controlled growth over risky expansion.
Today, Avesh champions a model where EV OEMs act more like service providers: he converts dealers into mini hubs for maintenance and uptime, advocates for strong financing support for buyers, and emphasises educating gig workers on asset care. His lens is patient scaling through quality and impact.
3) Brutal truths
What keeps Rilox EV honest
Fragmentation & boom/bust cycles
Indian EV manufacturing is crowded with small players; Avesh believes consolidation will reduce the number of OEMs from 100+ to 20–30 within 5–10 years. He warns that quality and service will be the deciding factors, not flashy prototypes.
Financing & trust
Too many EV buyers are denied loans due to earlier defaults or poor due diligence by OEMs and aggregators. Avesh urges manufacturers to support financiers with warranty and buyback programs to unlock credit for gig workers.
Service, not spec Avesh emphasises that after‑sales support is the real moat. Many startups focus on specs, but poor reliability can break the ecosystem by causing downtime and user frustration.
Avesh emphasises that after‑sales support is the real moat. Many startups focus on specs, but poor reliability can break the ecosystem by causing downtime and user frustration.
Value over valuation
He cautions young founders not to raise funds just because they can. Build a sustainable business first; capital is helpful only when attached to clear value creation and impact, not just to increase a round size.
4) Strategic solutions
How Avesh suggests solving these gaps
1. Convert dealers to service hubs
Avesh turns sales outlets into mini hubs that handle spares, repairs and on‑call support. This ensures a 90+% uptime promise, critical for gig workers and MSMEs.
Multi‑utility EV design
He advocates growing to 400–500 vehicles/month, not chasing unsustainable numbers. Finance should be used to improve service capacity and training.
Impact finance & slow scale
Work closely with NBFCs, microfinance, impact funds and state programs. Offer warranties and training for small business owners; encourage financiers to trust gig workers with fair credit.
Recommended policy action: Standardise charging connectors across OEMs; remove friction for small fleet operators; ensure fair warranties and stable financing to prevent defaults.
5) Vision for 2040
Inclusive mobility at scale
Avesh doesn’t obsess over futuristic technologies. Instead, he sees 2040 as a time when EVs for small businesses are mainstream, financing is seamless, and service is ubiquitous:
- Ubiquitous multi‑utility EVs – Durable three‑wheelers dominate urban and rural logistics, available across India and into Middle East / Africa.
- Hub‑and‑spoke service model – Dealers double as training & maintenance hubs, ensuring constant uptime.
- Predictive maintenance & AI – Diagnostics like EV Doctor (battery health) become commonplace; fleets schedule repairs proactively.
- Sustainable financing – Financiers trust gig workers; cooperatives and impact funds back micro‑entrepreneurs.
- Adaptability – Rilox EV continues to innovate with cargo drones or small e‑planes when the ecosystem is ready.