New Delhi: Startup’s are shaping up the e-Mobility business and are slowly gaining hold with enormous confidence and breakthrough ideas, the entrepreneurial minds shared at the ETAuto EV Conclave.
In a startup chat box on ‘Igniting Ideas’, panelists opined that the opportunities are limitless in EV landscape.
Shalendra Gupta, Co-founder, Altigreen Propulsion Labs said, “If all the new three-wheelers in India were to be electric, that would make a $6 mn dollar opportunity. Looking at two-wheelers in the same way would count another $20 mn. And, if all new vehicles were to be electric, we would be looking at $150 bn business.”
Adding to that, Akash Kaushik, Founder, Euclion Energy said, “With regards to battery manufacturing, there isn’t any established player. That gives an opportunity for everyone to seek and develop the product.”
Talking about the key challenges in the startup industry, he further added that reaching the compatibility of battery with vehicles is still an issue.
Financing of these vehicles is also a challenge, because at the end of the day capex is going to be higher for EVs, Gupta said.
Focusing on indegenous and local production, Nakul Kukar, Co-founder, Cell Propulsion said that logistics and custom cost of importing cells is an extra expenditure that Indian companies are facing.
“Demand is in the positive but supply chain has been one of the single biggest challenges,” added Goldie Srivastava, Co-founder, SmartE.
Responding to this, Kaushik explained that they were coming up with a new innovation called, MET (mechanical, electrical, thermal) to be integrated in the batteries. This will solve the issue of supply chain management, he claimed.
Nakul Kukar of Cell Propulsion mentioned that they are planning to enter the manufacturing segment with e-buses. “We are definitely not in competition with the established players. There might be a strategic partnership with them as a variety in business models can be worked out in collaborations.”
Discussing the role of technology in cost effectiveness, Kukar said, “Even if advanced technologies do not promise price reduction, they will provide better performance with higher range.”
“Coupled electro thermal-structural design of bus bars and internal sub assemblies of the battery packs can also bring in some efficiencies in the cost or the material of the battery packs,” he further added.
Talking about three-wheelers, Gupta also stated, “Technology and economics have come together to make EVs cheaper than ICE vehicles, without compromising on performance. Personally, we have reached the techno-economic intersection point, so going forward we might venture into manufacturing drive trains for two-wheelers, depending on customer needs.”