PMV Electric car with no front passenger seat enters Shark Tank but exits with no deal

Jan 27, 2023 By: Rahul Verma

PMV’s Eas-E electric car

‘PMV Electric’ founder Kalpit Patel introduced his car, which is entirely manual and can also be operated by the owner with the app. Kalpit had the vision to revolutionize everyday mobility with a small micro-car with no front passenger seat. Credit: PMV-Electric

Demand - One crore for 1 percent of equity

Kalpit Patel pitched for one crore at the equity of 1 percent, making it almost ₹100 crore valuation. Sharks were shocked by the valuation, but they were impressed by the car's features. Credit: PMV-Electric

View of Sharks on car

The sharks were impressed by the founder and the features of the car such as it can be remotely controlled. However, sharks said that the business is at a very early stage. They laud the efforts of the founder and encourage him to pursue his dream. Credit: PMV-Electric

Offer from one Shark

Anupam offered him an offer of ₹40 lakhs at 2 percent and a ₹60 lakhs debt; he later revised it to ₹1cr of 2 percent equity, but Kalpit refused the offer. Credit: PMV-Electric

Kalpit Patel background

Kalpit completed his engineering, and MBA and then worked in a bank. According to him, his car is the answer to rising pollution and decreasing parking space. Credit: PMV-Electric

Dimensions of microcar

It is 2,915mm in length, 1,157mm in width, and 1,600mm in height. It has a wheelbase of 2,087, while the ground clearance will stand at 170mm. Credit: PMV-Electric

Eas-E: Features

Battery and powertrain

47V lithium-iron-phosphate battery | The battery produces 13HP of maximum power and 50 Nm of peak torque, enabling the car to accelerate from 0-40 km/h in under 5 seconds. It has a claimed top speed of 70 km/h. Credit: PMV-Electric

Range and Charging Time

According to the company, once fully charged, the car can go up to 160km. The battery can be fully charged using a household 15A power socket in three to four hours. Credit: PMV-Electric

When can you buy it?

You can book the PMV’s Eas-E on the official website for a token amount of ₹2,000, and the deliveries will commence in mid-2023, said the founder. Credit: PMV-Electric