Nett’s Mobility: Market Oppurtunity TAM (Total Addressable Market) Target: two-wheelers in India (ICE + EV) TAM = ₹ 3.32 Lakh Crores/year which is 40billion USD SAM (Serviceable Available Market) Target : All currently running EV two-wheelers in India (2024–25) SAM = ₹ 44,709 Crores/year SOM (Serviceable Obtainable Market) Target : EV 2-wheelers in Tier-1 cities in 2025 Metric Value Total Two-Wheelers (India) 260 million Average Fuel Spend (per 2W/year) ₹ 12,774 Total Fuel Market ₹ 3.32 Lakh Crores/year Assumption Replacing full annual fuel spend with battery swapping Metric Value Total EV 2-Wheelers 3.5 million Average Spend per User per Year ₹ 1,774 Projected Growth (by 2026–27) ~34 million EV 2Ws (13% of total 2W market) SAM Revenue Potential (2024) ₹ 44,709 Crores/year for battery swapping Justi fi cation: • Launch in 8 Tier-1 cities • 55–65% of India’s EV 2W demand is urban • Karnataka has the highest EV 2W adoption rate (11.63%) • Focus on high-usage customers: Swiggy, Blinkit, Rapido, etc. SOM = ₹ 313 Crores/year Summary Table Metric Value Estimated EV 2Ws in Tier-1 Cities ~1.225 million Target Capture (2%) ~24,500 users Average Spend per User per Year ₹ 1,773 SOM Revenue Potential (2025) ₹ 313 Crores/year for battery swapping Layer Target Market Revenue Potential TAM All 260 million two- wheelers in India ₹ 3.32 Lakh Crores/year SAM 3.5 million EV two- wheelers in India ₹ 44,709 Crores/year SOM 24,500 Tier-1 city EV 2W users ₹ 313 Crores/year (2025)