Folks Motor leads India’s xEV retrofit industry with its globally patented Hybrid ReGeN Drive technology. The company has evolved into a full-scale Original Equipment Manufacturer (OEM), offering hybrid and pure-electric conversion solutions for conventional vehicles. By integrating its solutions with India’s PM E-DRIVE scheme, Folks Motor is contributing to the country’s transition towards sustainable mobility, says Nikhil Anand Khurana, MD and CEO, Folks Motor in an interview with EVolution Auto India.
Q: Could you share the story behind founding Folks Motor and how your college research on hybrid electric powertrains led to the creation of India’s first hybrid-electric retrofit company?
Nikhil Anand Khurana: My passion for hybrid electric powertrains began at 15 years old when I developed a prototype hybrid system for manual transmission vehicles. In college, I self-funded my research by selling personal assets and began drafting patents. This early innovation laid the foundation for Folks Motor, India’s first hybrid-electric retrofit company.
Today, Folks Motor leads India’s xEV retrofit industry with its globally patented Hybrid ReGeN Drive technology. The company has evolved into a full-scale Original Equipment Manufacturer (OEM), offering hybrid and pure-electric conversion solutions for conventional vehicles. By integrating its solutions with India’s PM E-DRIVE scheme, Folks Motor is contributing to the country’s transition towards sustainable mobility.
Q: How do you perceive the current state of the xEV industry in India, and what key trends or challenges do you foresee shaping its future?
Nikhil Anand Khurana: India’s xEV industry is witnessing a 25 percent year-on-year (YoY) growth, driven by policy initiatives like PM E-DRIVE, which aims to promote localized manufacturing and EV adoption. However, challenges persist, including high battery costs, inadequate charging infrastructure, and consumer hesitancy regarding EV performance.
One major solution is retrofitting, which allows existing vehicles to be converted into hybrid or electric instead of being scrapped. Folks Motor is addressing this challenge by offering cost-effective retrofit solutions, significantly reducing conversion costs compared to purchasing a new EV. The company is investing INR 500 crore into India’s EV ecosystem, with a vision to generate INR 200 crore in domestic revenue and INR 300 crore from exports by 2030.
Q: Folks Motor has pioneered the Hybrid ReGeN Drive system. Could you elaborate on how this innovation is transforming the retrofitting landscape and making EV adoption more accessible?
Nikhil Anand Khurana: Folks Motor’s Hybrid ReGeN Drive is a globally patented innovation that enables manual transmission ICE vehicles to switch between hybrid and pure-electric modes. Unlike traditional EV conversions that require a complete powertrain replacement, this system integrates seamlessly with existing vehicles, reducing conversion costs by up to 32 percent.
This innovation is particularly useful for commercial fleets, which face high fuel and maintenance expenses. Retrofitting not only extends vehicle lifespan but also aligns with government initiatives like PM E-DRIVE, which focuses on green mobility and cost-effective electrification. With AIS-123 certification, Folks Motor’s solution is fully compliant with Indian automotive regulations, making it a scalable, practical alternative for widespread EV adoption.
Q: With the Delhi government’s recent policy banning 15-year-old vehicles, how do you see this impacting the demand for retrofitting solutions like those offered by Folks Motor?
Nikhil Anand Khurana: The Delhi government’s ban on 15-year-old petrol and 10-year-old diesel vehicles affects nearly 3 million vehicles, creating a significant market for retrofitting solutions. Instead of scrapping these vehicles, owners can convert them to hybrid or electric using Folks Motor’s xEV technology, allowing them to remain road-legal while complying with green mobility regulations.
This demand will only grow with the national push for EV adoption under PM E-DRIVE, which promotes retrofitting as a key strategy alongside new EV manufacturing. Folks Motor is actively working with policymakers to ensure that retrofitting becomes a mainstream solution, helping reduce pollution and extend vehicle life cycles affordably.
Q: How will this ban impact vehicle owners, and what alternatives do they have (scrappage policy, retrofitting, etc.)?
Nikhil Anand Khurana: Vehicle owners affected by the ban have two primary options:
- Scrappage Policy: The government offers incentives for scrapping old vehicles and purchasing new EVs, but this is an expensive option for many consumers.
- Retrofitting: A cost-effective alternative that allows vehicle owners to convert their existing cars to hybrid or electric modes, reducing costs and environmental impact.
For example, converting a diesel bus to electric through retrofitting can lower operational costs by 32 percent while extending the vehicle’s lifespan by 8–10 years. Folks Motor’s retrofit solutions are aligned with the PM E-DRIVE framework, offering an affordable and sustainable pathway for vehicle owners looking to comply with new regulations.
Q: How has your ‘Made-in-India‘ approach contributed to building a sustainable automotive ecosystem, and what role does it play in supporting India’s green mobility goals?
Nikhil Anand Khurana: Folks Motor strongly supports ‘Made-in-India’, with over 50 percent domestic value addition in its EV powertrain components. This approach reduces dependence on imports, strengthens local supply chains, and contributes to job creation.
The company’s INR 500 crore investment in ‘The Blue IP’—India’s first xEV-focused industrial park—will further boost domestic EV production. This aligns with PM E-DRIVE, which promotes localized EV manufacturing and R&D, accelerating India’s transition to green mobility. By 2030, Folks Motor aims to generate INR 600 crore in orders, reinforcing its position as a leader in sustainable automotive innovation.
Q: Who is your primary target audience for hybrid retrofitting solutions, and what are your plans for expanding into other markets beyond Delhi-NCR?
Nikhil Anand Khurana: Folks Motor’s primary customers include:
– Commercial fleet operators (who benefit from lower fuel and maintenance costs)
– Public transport agencies (seeking cost-effective electrification)
– Individual vehicle owners affected by Delhi’s vehicle ban
Beyond Delhi-NCR, Folks Motor is expanding into Tier-1 and Tier-2 cities across India, as well as international markets. The company has already entered the Middle East and Africa and plans to expand into Europe, Latin America, and Southeast Asia.
With the xEV market growing at 25 percent YoY, Folks Motor is investing in scaling production, securing supply chain partnerships, and developing localized xEV solutions. Its INR 500 crore investment will play a pivotal role in this expansion, ensuring it meets growing demand while strengthening India’s position in the global EV market.