EMobility+ May Issue 2021

M A Y

POWERING

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V O L U M E

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I S S U E 5

MOBILITY

INSIGHTS

HAVE EVS BEEN EXISTENT FOR CENTURIES?

What Is Thriving Them?

PERSPECTIVE

WHAT MAKES E-MOBILITY BUSINESS

AN ATTRACTIVE INVESTMENT DESTINATION?

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CONTENT PERSPECTIVE

22

WHAT MAKES EV BUSINESS AN ATTRACTIVE INVESTMENT DESTINATION?

INSIGHTS

26

HOW IS THE INDUSTRY REIMAGINING THE CONCEPT OF EV CHARGING STATIONS IN INDIA?

28

ANNUITY HYBRID EMOBILITY (AHEM) : AN EMERGING EV INFRA FINANCING MODEL

30

HAVE EVS BEEN EXISTENT FOR CENTURIES? WHAT IS THRIVING THEM?

32

SPURRING INDIA’S E-MOBILITY ASPIRATIONS

INDIA NEWS

POLICY DEBEIEF

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IN CONVERSATION

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20 RYAN LAEMEL

VARUN GOENKA

Principal, RMI

Co-founder and CEO, Charge-up

''Upwards of 50 percent of twowheelers, 80 percent of private fourwheelers, and 95 percent of freight vehicles sold in the country are financed through loans.''

EDITING

''Charge-up, founded by Varun Goenka and Akshay Kashyap in 2019 is building Bharat’s largest battery swapping network for e-rickshaws.''

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INDIANEWS PARTNERSHIPS

Flipkart Partners With EDEL By Mahindra Logistics To Accelerate Deployment Of Electric Vehicles (EV) In Its Last-mile Delivery Flipkart, India’s homegrown e-commerce marketplace, announced that it has partnered with Mahindra Logistics Limited (MLL) as one of its key logistics partners to help fast track deployment of electric vehicles across its logistics fleet in the country.

Flipkart has committed to 100% electric mobility in its logistics fleet and will deploy more than 25,000 electric vehicles (EVs) by 2030. Mahindra Logistics will play a significant role in working with various OEMs and help Flipkart’s sustainable transition to EVs. Flipkart has already partnered with many OEMs and introduced two and threewheeled electric vehicles in its supply chain. The company’s partnership with MLL EDEL will further propel this momentum and help in deployment at a National scale, further enhanced by infrastructure and technology support that spans charging, tracking, asset, safety, and cost. MLL will, under its electric delivery brand EDEL, be procuring different types and classes of electric vehicles from OEMs as it establishes a pan-India EV presence. EDEL already operates a large fleet of EVs, and now aims to scale up the same significantly to support Flipkart’s objectives in the coming months.

Siemens Limited, Switch Mobility Sign MoU To Provide Sustainable And Innovative E-Mobility Solutions In India Siemens Limited has signed a Memorandum of Understanding (MOU) with Switch Mobility Automotive Limited to jointly address the needs of electric commercial vehicle customers and execute E-Mobility Projects in India. The MOU is aimed at delivering efficient, cost-effective and sustainable E-Mobility solutions to various commercial vehicle customers in India.

Switch Mobility will bring its electric commercial vehicle industry experience while Siemens will provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energyefficient operations of the chargers. Siemens’ charging infrastructure management software solution would enhance the energy-efficient operations of chargers. The two companies will collaborate on new business models such as eMobility-as-a-Service (eMaas), integrated depot energy management, Vehicle-to-Grid (V2G) as well as on-site / offsite renewable energy sources by leveraging batteries from commercial vehicles.

EMOBILITY+ | MAY ISSUE 2021

PG 06

INDIA NEWS |

Hero MotoCorp And Gogoro Announce Strategic Partnership To Accelerate The Shift To Electric Transportation In India Hero MotoCorp Ltd. and Gogoro Inc., announced a strategic partnership to accelerate the shift to sustainable electric mobility in India. The partnership brings together Hero, the world’s largest manufacturer of motorcycles and scooters, and Gogoro, the global leader in urban battery-swapping and smart mobility innovation. The companies will establish a battery swapping joint venture to bring Gogoro’s industry leading battery swapping platform to India and will collaborate on electric vehicle development to bring Herobranded, powered by Gogoro Network vehicles to market.

CredR Partners With EV Brand Crayon Motors To Exchange Petrol Two Wheelers CredR, which is an omni channel platform, has partnered with e-bike brand Crayon Motors for exchange of any petrol-based two-wheeler with the latter’s electric bike.

Under this partnership, the customer can upgrade from any petrol two-wheeler to Crayon Motors’ e-bikes. At the time of exchange, CredR will offer instant quotes for old petrol scooters thereby reducing the upfront cost of the e-bikes.

CredR said that the program which is currently applicable in Delhi NCR and Jaipur will soon be expanded to other cities across the country, including Bangalore and Pune. With convenience and hassle-free exchange of used twowheelers for electric bikes, the customers will receive their new vehicle within days. An instant price quote/estimate will be generated through the proprietary pricing application powered by CredR. The company will verify the documents and the health of the petrol version of the twowheeler during the exchange transaction. The price will then be adjusted against the final cost of the new Crayon Motors e-two-wheeler.

Okinawa Autotech To Supply Electric Two-wheelers For Last Mile Delivery In Association With Welectric

Welectric And MoEVing Partner To Accelerate EV adoption In Last Mile Delivery In order to accelerate the adoption of electric vehicles in last-mile delivery operations, electric two-wheeler mobility start-up Welectric has partnered with MoEVing, another start-up working in the electrification of the logistics sector.

In this partnership, Welectric will provide 1,000 electric twowheelers (e2Ws) on lease with after-sales and maintenance support to MoEVing. At the start, Welectric is delivering 60 e2Ws to MoEVing in Bangalore. In the next few quarters, both the companies plan to scale up this partnership to over 1,000 e2Ws across major cities in India.

Okinawa Autotech has announced a strategic partnership with Welectric. With this partnership, Okinawa and Welectric will collaborate to focus on working with companies involved in last mile delivery operations across India to help them switch their two wheeler delivery fleet to electric vehicles. Welectric already has a fleet of over 150 electric two-wheelers and plans to scale up its fleet to over 2,000 in the next 12 months. With this partnership, Welectric will procure electric scooters from Okinawa including the latest – Okinawa Dual – India’s first customisable B2B Electric two-wheeler – launched in January this year to propel ‘services on wheels’.

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PG 08 PG 07

| INDIA NEWS

INSIGHTS

IIT Hyderabad Researchers Developed An Alternative For Conventional Lithium-ion Batteries Electrochemical Energy Storage (EES) Lab at IIT Hyderabad, under the supervision of Dr. Surendra Kumar Martha (Associate Professor, Department of Chemistry) has developed a 5V Dual Carbon Battery utilizing selfstanding carbon fiber mats as both electrodes (cathode and anode). The novel dual carbon battery consisting of zero transition metal is environmentally benign. It may cut down the overall battery cost by 20-25% and is expected to curb the unpredictability in market price. The use of ubiquitous carbon as electrode active material as well as current collector replacing heavy metals brings in the aspects of lightness and flexibility. The fabricated 5.0 voltage (nominal voltage 4.6 V) cell provides an energy density of 100-watt hour per kilogram approximately and can be extended up to 150-watt hour per kilogram with further modifications. The research team believes that developed cells may find potential uses in high voltage applications, sophisticated battery-run medical devices, regenerative braking systems in electric vehicles, and stationary grids.

The use of ubiquitous carbon as electrode active material as well as current collector replacing heavy metals brings in the aspects of lightness and flexibility."

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IEA: 30% Indian Vehicles Will Be Electric By 2030 In its latest report, the International Energy Agency said that more than 30 percent of new vehicle sales in India will be electric by 2030. The agency states that EV deployment in India will mainly be achieved through the electrification of two/three-wheelers, which will reach a sales share of almost 50 per cent. The report stated – The rate of electrification of buses and light-duty vehicles is lower, below 15 per cent sales share in 2030. In 2020, India increased electric bus registrations by 34 per cent to 600. The lack of government spending under the FAME II policy has hindered EV deployment along with a pressure on domestic automakers to focus on BS-VI innovation instead of EVs. More than halfway to the April 2022 end- date only 3 percent of the allocated funds under FAME II have been used for a total of just 30 000 vehicles. Significant acceleration will be required to reach both the programme targets and national targets of 30 per cent EV sales by 2030.

PG 08

INDIA NEWS |

India’s Electric Mobility Sector Recovers Post Its COVID-19 Slump, With 1.35 Lakh EVs Sold in FY21: CEEW-CEF India’s electric mobility sector is on a steady road to recovery, post a lockdowninduced dip in sales. The sector registered nearly 1.35 lakh EVs in FY21, according to CEEW Centre for Energy Finance’s (CEEWCEF) electric mobility dashboard. The mobility dashboard further indicates that two-wheeler and three-wheeler EV sales accounted for nearly 96 per cent of the electric mobility market in FY21. Threewheeler EVs made up ~65 per cent of all EV registrations in FY21, having comprised 83 per cent of the market in the year before.

Two-wheeler EVs, on the other hand, made up ~30 per cent of all EV registrations in FY21, previously accounting for only 14 percent of the market (this includes only two-wheelers with speeds greater than or equal to 25 km/hr). Also, the two-wheeler EV market saw a 1.6 fold increase in FY21, from 24,839 units sold in FY20 to 40,837 in FY21. Further, the four-wheeler segment is expected to grow rapidly with over 23 new electric car models scheduled for launch by FY22. The dashboard also highlights that a consumer shifting from a petrol-run sedan to an electric sedan in Delhi NCT, could save nearly INR 30,000 annually in operational expenses.

EMOBILITY+ | MAY ISSUE 2021

Rising Fuel Prices Increase Mumbai’s E-vehicle Registrations By 115% During the 2020-21 Covid-19 pandemic, electric vehicle registrations have seen a 115% rise in Mumbai when compared with the previous financial year. EVs registered in 2020-21 totalled 1,442 compared with 672 in 2019-20. Out of these, 90% were two-wheelers, especially scooters. Also, CNG vehicles were preferred by motorists and were just 12% short of the number of diesel vehicles registered in 2019-20.

Statistics also showed that of the total e-vehicles registered in 2020-21, 885 were done between January and March this year. Maximum evehicles were registered in the island city (Tardeo RTO) at 463 followed by 426 at Andheri RTO, 321 at Borivli and 232 at Wadala. People are preferring electric vehicles as the costs of diesel and petrol are rising which neared the Rs 90 a litre and Rs 100 mark earlier this year, respectively. The city has also seen a rise in the number of shops selling e-vehicles while car manufacturers are also coming up with new models of e-cars and e-SUVs. The e-car also brings savings to your wallet. While petrol or diesel cars could cost Rs 3-4 per km, the e-car costs 50 paise.

In a single fast charge, one can drive up to 120km.

SMEV: India’s EV Sales Declined 20% In FY 2020-21 Society of Manufacturers of Electric Vehicles (SMEV) said that the sales of EVs in India fell 20 per cent in the financial year 2020-21 to 2,36,802 units. This figure stood at 2,95,683 units( including electric two-wheelers (E2W), electric three-wheelers (E3W) and electric four-wheelers (E4W)) in 2019-20. In a statement, SMEV said that for FY21, the E2W segment sales declined by 6 per cent to 1,43,837 units, as compared to 1,52,000 units in FY20. It added that the FY21 E2W sales included 40,836 highspeed and 1,03,000 low-speed E2W. The E3W segment registered sales of 88,378 units as against 140,683 units sold in FY20. The data doesn’t include E3Ws that are not registered with the transport authority.

However, for the E4W segment, the industry witnessed registration of 4,588 units, compared to 3,000 units in FY20 which is an increase of 53 per cent.

PG 09

| INDIA NEWS

BUZZ Magenta Installs India’s First EV Charging Solution – ChargeGrid Prisma Dedicated For Residential Complexes Magenta, which has been developing a unique EV charging solution under their “ChargeGrid” brand comes up with another unique solution, this time for large residential complexes under their product range – ChargeGrid Prisma.

This solution is developed specifically at solving the complex and multi-faceted problems for EV charging at residential societies where not everyone has dedicated parking slots.

This EV charging hardware which is amenable to multi user profile integrates with the existing Facility management software of residential societies and reduces the pain of the society in managing the EV charging process. Magenta over the last one yar worked with multiple RWA (Residential welfare Associations), Apartment Federations and EV owners to understand the problem and solve each of these challenges.

The outcome is a unique model which leverages the charging assets for EV charging across multiple users.While the pilots Best Service are in progress in multiple cities, one of the first to fully go live is at Gundecha Trillium, a large and forward-looking housing complex in Mumbai. This pilot was supported by Adani Electricity which is the utility supplier in the area.

Tesla India Appoints Prashanth R. Menon As The Country Director Tesla has appointed Prashanth R. Menon as the country director for India operations. Mr. Prashant who has been with Tesla for four years now has taken charge to oversee the company’s foray into the Indian market. With Tesla’s entry in India, the EV ecosystem is likely to change in a big way. Mr. Menon’s experience will also prove to be beneficial thanks to his past experience. He’s been with Tesla for 4+ years. Earlier he was Service Director Advisory – Best Cost, Process & Regulatory at Tesla US.

Ola Electric Hires Wayne Burgess As Head Of Vehicle Design Ola Electric announced the appointment of Wayne Burgess, as Head of Vehicle Design for its entire product range including scooters, bikes, cars and more. Wayne brings a wealth of international automotive design experience, having worked on some of the most legendary and iconic cars in automotive history including the Bentley Arnage in 1998, Aston Martin’s DB9 in the mid 2000s and more recently, the Jaguar XF, FType, F-Pace SUV, XE as well as many others. Wayne has spent almost three decades designing vehicles for the majority of British premium automotive manufacturers,

EMOBILITY+ | MAY ISSUE 2021

from Rolls Royce and Bentley in his early career, to Aston Martin and Jaguar Landrover to, more recently, Lotus.

Notably, Wayne was the Chief Designer for the Jaguar F-Type sports car, and then Studio Director for the Jaguar F-Pace SUV.

TVS To Increase iQube Electric’s Reach In More Indian Cities TVS Motor Company is planning to add more names to the list of cities where its iQube electric scooter is sold in India.

Presently it is in Delhi and Bengaluru. With this increased reach, the company is likely to garner greater sales and compete with its rivals. There are chances of a few tier-2 names to be included in the list apart from some tier-1 cities.

The electric scooter has a range of 75km. It is powered by 3 li-ion battery packs, comes with a silent hub-mounted motor that has a peak output of 4.4KW and it accelerates from 0 to 40 in just 4.2 seconds.

Kia Announces Rebranding To Kia India And Entry Into New Segment Kia Motors India has rebranded itself and now becomes Kia India. This rebranding is in line with its global plans. Kia India has also revealed its new logo – just four months after it was revealed in its home market of South Korea. With the rebranding campaign, which includes its new slogan “Movement that Inspires”, Kia India aims to expand customer touch points to 360 by the end of the year. This includes expansion into Tier III and Tier IV cities, with a total coverage of 218 Indian cities. The brand also plans to increase production at its Anantapur facility in Andhra Pradesh with a new shift.

Lithium-ion Battery Manufacturer Lohum Plans Expansion With Investment Of Rs.250 cr Lohum,which is a Lithium-ion battery pack manufacturer and recycling company, plans to venture into the electric fourwheeler battery segment. For this, it plans to invest up to Rs 250 crore in the next three years to enhance its capacity.

The company, which currently has battery manufacturing capacity of 300 megawatt-hours per annum, plans to set up a new unit at Greater Noida to take its total battery manufacturing capacity to a “gigawatt-hour scale” to respond to the surge in demand from the electric vehicles segment. The company has already started a pilot project for electric four-wheeler batteries.

PG 10

INDIA NEWS |

Odisha Based EV Maker EeVe In Talks With VCs To Tap More funds EeVe, which is an Odisha-based electric vehicle maker, is looking to tap additional funds worth USD 15 million (Rs 100 crore) to fuel its aggressive expansion plans. For the same, it is in preliminary discussions with some of the venture capital funds. The firm, which currently has six scooter models in its product portfolio, all in the low-speed, expects to have at least 10-12 vehicle models, including high-speed e-scooters, e-bike and passenger and cargo three-wheelers going forward, its cofounder and Director Harsh Didwania said. The company is planning to come up with a manufacturing plant in Bartana, some 60 km from capital city Bhubaneswar, with an installed capacity to produce 2.5 lakh vehicles per annum. The company has crossed more than 7k vehicles across the country in spite of COVID-19 taking half of the year. This has been achieved in a short span of 18 months since its products launched in Oct 2019. The company is planning to have at least 10-12 products, including low- and high-speed scooters with lithium-ion and acid batteries as well as e-rickshaws.

Best Service

Ather Energy’s Operations Begin In Mysore And Deliveries In Hubli Ather Energy’s 450X electric scooter deliveries and test rides have begun in Bhairidevarkoppa, Hubli. This is in association with Bellad Group which is Hubli’s leading dealer in trading across industries. The early test rides have started due to the surge in bookings, enquiries, and test ride requests. The company will also install EV charging points - Ather Grid. Over 120 public fast charging points by Ather Energy are currently up across more than 17 cities in India. As far as prices are concerned, the ex-showroom price of the Ather 450X electric scooter is Rs 1,59,629 while the Ather 450 Plus is priced at Rs 1,40,619 in Hubli. The test rides have started at Hinkal, Mysore in association with Honnassiri Energy Pvt Ltd.

Best Service

Hero Electric Plans To Train 20K Mechanics For Handling EVs Hero Electric is in plans to train over 20,000 roadside mechanics across the country to deal with any issue that its green mobility customers may face as part of its plans to instill confidence in buyers. It plans to do this over the next 3 years.

The company sold around 53,000 electric two-wheelers last year and now it also aims to set up around 20,000 charging stations across the country to ease range anxiety issues. The process has already started and it has trained 4,000 mechanics and has also installed around 1,500 charging points till date.

The company is aiming to sell 1 lakh units in 2021-22 fiscal, thus doubling its sales over 2020-21 fiscal where it dispatched around 53,000 electric two wheelers. The company will also be expanding its production capacity in the current fiscal.

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Mobility Provider Aaveg To Convert 7% Of Fleet Into EVs Aaveg which is a Delhi based mobility and transport solution provider said that it plans to replace 7% of its fleet with electric vehicles. The company is planning to get 300 cars and deploy them with various clients depending on the nature of their operations. Aaveg has also recently launched its EV fleet in Bengaluru wherein it has inducted these vehicles at Firstsource Limited. The company said it currently manages over 125,000 users across the country with over 50 customers in 20 cities where it provides transport solutions for corporate mobility. Mr. Ashok Vashist, CEO & founder, Aaveg, said – “Each one of us can work for a pollution-free environment and leave a better legacy and world for the generations to come.”

EV Startup moEVing Launches Its Operations Electric vehicle startup moEVing recently announced that it has launched operations in Delhi/NCR, Bengaluru and Pune.

This is done within a month of the firm’s incorporation. There are further plans to expand its services soon to Hyderabad, Chennai, Mumbai and Kolkata as well. The company also said it has partnered with leading Original Equipment Makers (OEMs) in the electric vehicles space and looks to have a fleet of one lakh EVs by 2025. moEVing is a Gurugram-based startup which caters to B2B clients across e-commerce, FMCG, third-party logistics and food delivery platforms. With over 100 EVs on road, the platform is already running operations with leading players in the e-commerce, online groceries and FMCG sectors.

Ather Energy Sets Up 10 Fast Charging Networks In Mumbai In collaboration with startup Park+, Bengaluru-based EV maker Ather Energy is setting up its fast-charging network Ather Grid in Mumbai. Currently, 10 charging points are already live at various key locations across the city and the firm is also planning to have at least 30 such points by next year. The company has set up 128 public fast charging points across 18 cities in the country as part of the network, which can be used by all-electric two-wheelers and electric four-wheelers. Also, this facility is being offered free of charge to everyone till September. The charging network is supported by the Grid app, which allows all EV owners to locate and check the availability of the nearest charging stations in real-time.

PG 11

| INDIA NEWS

BUZZ Hero Electric Plans To Invest Rs 700 cr To Increase Plant Capacity

Tesla Firms Up India Plans With New Hirings

Hero Electric is expecting huge growth in electric two-wheelers and hence is planning to invest Rs 700 crore over the next three-four years to increase its plant capacity from 75,000 units to 10 lakh units. In the first phase, the capacity will be increased to 3 lakh units. The company has sold 53,500 units when the overall market size for two-wheelers has increased from 40,000 units in 2017 to 1.7 lakh units in 2020-21. It has sold 3.5 lakh electric scooters across the country so far. Presently, the Hero Electric portfolio comprises 13 offerings in six platforms across two segments — city speed and comfort speed. The company also plans to enhance the range within these two categories. It will, however, continue to monitor the demand in the highspeed segment for the time being and enter only when it develops beyond the niche market.

Elon Musk-run company Tesla firms up its plans to roll out its first all-electric car in India this year. For the same, it has hired top executives in the country who have taken charge of some of its operations in the country. Karnataka’s Chief Minister B.S. Yediyurappa had mentioned that the US-based electric vehicle and clean energy company will set up its production unit there. Tesla has already registered its office in Bengaluru.

The company has now ramped up hiring for top positions and has on boarded IIM Bangalore alumnus Manuj Khurana as Policy and Business Development head for India operations.

It has hired Nishant as Charging Manager who will head the supercharging, destination charging and home charging business for Tesla India. Nishant was earlier head of Charging Infrastructure and Energy Storage at Ather Energy. Chithra Thomas has been selected as Country HR Leader, she had earlier worked at Walmart and Reliance Retail.

Startup ReadyAssist To Give Roadside Assistance To EVs Across 5,000 Locations ReadyAssist, which is a roadside assistance start-up firm, recently said it plans to provide its service to electric vehicles (EV) across 5,000 locations in India. The company will enable an umbrella of services under one platform for the EV owners, who can get assistance for services such as battery swapping and on-the-spot charging services through its mobile charge units. Mr. Vimal Singh, ReadyAssist Founder and Chief Executive Officer said there are many challenges that need to be addressed for a successful adaptation of EV starting from getting the right product to winning customer mindshare, competency building, service and support network, charging network and roadside assistance (RSA) network among others.

The company is also planning to facilitate funding options to its existing mechanic’s partners in order to enable them to open their own micro charging kiosks at home to support EV owners across urban and rural areas. Such micro charge stations will be connected through the company’s technology platform and made available to customers through the subscription model.

Mahindra Offers Its Customers India’s First One Stop Solution For Vehicle Scrapping Mahindra & Mahindra Ltd (M&M), part of the USD 19.4 billion Mahindra group has signed an MoU with Mahindra MSTC Recycling Private Limited (MMRPL)* towards offering its customers first of its kind end-to-end solution for scrapping of vehicles. MMRPL is engaged in the business of acquiring used/end of life vehicles to dismantle and scrap it under the brand name of CERO. The agreement with MMRPL will enable customers to get a hassle free and transparent deal under one roof. Any customer intending to purchase a new Mahindra Vehicle by scrapping/exchanging the old vehicle which is more than 15 years old can do so at any Mahindra dealership. These services would provide utmost convenience to the customer without the need to look for a vehicle scrapping agency/ dealer.

EMOBILITY+ | MAY ISSUE 2021

Mahindra & Mahindra Plans To Invest Rs 3000 cr In Its EV Business Mahindra & Mahindra Ltd(M&M) is planning to make huge investments of Rs 3,000 crore in its electric vehicles business in the next three years. For this, it is looking for more alliances and partnerships in the vertical. The company is working on developing an EV platform by combining capabilities of its operations across the globe, including Detroit and Italy. It had previously mentioned that it was investing Rs 9,000 crore in auto and farm sectors in the next five years. M&M has set a goal of putting 5 lakh electric vehicles on Indian roads by 2025. For this, it has already invested Rs 1,700 crore in the EV business in India with another Rs 500 crore on a new research and development (R&D) centre. The company has already opened its electric technologies plant in Bengaluru that produces battery packs, power electronics and motors. It has also invested in a new manufacturing unit at its Chakan plant to produce EVs.

Ola Electric Appoints N Balachandar As CHRO Ola Electric has hired N Balachandar as Chief Human Resources Officer. In his new role, Balachandar will accelerate Ola Electric’s journey to become a world-class talent organisation, with a focus on people and culture globally. Balachandar (or Bala) is a 33-year industry HR veteran, and brings global experience to the company, having worked across India, Europe and Asia with GE Healthcare & GE Capital in several senior HR leadership and M&A roles, with Strides Arcolab, with the Standard Chartered Bank and with Asian Paints early in his career, and most recently as Group Director with the Coffee Day Group.

PG 12

INDIA NEWS |

Hero MotoCorp Plans To Offer Flexible Charging Ecosystem For Electric Vehicles

Precision Camshafts Explores To Provide Electric Vehicle Solutions

Hero MotoCorp Ltd is in plans to offer a flexible charging ecosystem that will include fixed stations and battery swapping units to the customers, said a senior executive from the company

Precision Camshaft (PCL), a Maharashtra based manufacturer of camshafts, is exploring opportunities to provide tailor-made electric vehicle solutions for the domestic market. For this, it is in talks with truck and bus makers for a tie-up. The company already provides camshafts to Hyundai, Maruti Suzuki, Volkswagen, Audi and Tata Motors in India and overseas. The rising EV boom is attracting the company to enter into it. PCL recently acquired Emoss, a Dutch firm which specialises in retro fitment of electric drive systems onto fossil-fuel powered trucks or buses. Through this subsidiary in which it owns 51% stake, PCL is making the EV push. PCL is in talks with a few companies for exploring a partnership where they can provide the entire system such as battery kits, traction module, drivetrain, electrical systems and software which would replace the conventional engine and drivetrain.

The company very recently announced a partnership with Taiwan’s leading EV player Gogoro with the help of which it plans to develop EV programmes that include the development of fixed charging systems. There are also plans to bring battery swapping systems in the country. Gogoro currently has a network of more than 2000 battery swapping stations. With this partnership, the company is accelerating EV push in the Indian market.

Li-ion Battery Maker Ruchira Green Earth To Invest 200 cr To Double Production Capacity

IIIT-Hyderabad Design Unique EV Charging Solutions

Ruchira Green Earth which is a lithium-ion batteries and allied products maker has announced that it will invest Rs 200 crore over the next three or four years to set up a new manufacturing unit in Haryana to double its production capacity. The funding will be done through an internal accrual of Rs 50 cr and bank loan. The company has a current capacity of manufacturing up to 5,000 batteries per month. The new plant will be set up at YamunaNagar in Haryana to fulfil the rising demand for its products. Currently, the company produces lithium-ion batteries for electric two, three and four-wheelers for commercial vehicles, loaders, forklift trucks, golf carts, among others. It is now targeting energy storage systems, home storage and energy storage solutions from banks, hospitals, industries, and government contracts for villages, defence, railways and telecom sectors, among others.

International Institute of Information Technology, Hyderabad (IIIT-H) researchers have designed a unique charging solution for e-scooters. Dr. Hussain and his team of researchers proposed a unique design and fabrication of charging equipment specifically for e-scooters in a paper titled, “Compact Electric Vehicle Charging Station Using Open Charge Point Protocol for E-Scooters” which was presented at the 2021 International Conference on Sustainable Energy and Future Electric Transportation. Open Charge Point Protocol (OCPP) is the USP of the system. With this, charging stations are no longer vendor specific. The team started working on the solution as the charging infrastructure for two-wheelers is yet to catch up.

Mahindra Showcases Its New Electric SUVs, Launch Likely In 2022

Ola Announces Hypercharger Network, World’s Largest Electric Two-Wheeler Charging Network

With the rising popularity of electric vehicles in India, more and more EVs are being introduced. Recently, Mahindra has showcased a few of its new electric SUVs – eKUV100 & eXUV300 and is planning to launch them soon. Mahindra is planning to enter the private electric vehicle segment with these two vehicles. It is also planning to increase its vehicle portfolio in India. At the moment, the Mahindra e-Verito is the only model that Mahindra offers in the market. That too is sold mostly to the government for official use. As far as the specifications of eKUV100 are concerned, it will have a range of about 147 km. The car will come with a 15.9 kWh lithium-ion battery pack. It will power an electric motor capable of generating about 54 Bhp of peak power and 120 Nm of peak torque. Within 55 minutes, the battery can be charged from zero to 80%. The price of the vehicle is Rs 8.25 lakh, exshowroom, Delhi. The launch is likely to happen in 2022.

Ola Electric revealed its plans for providing charging solutions to all its electric two wheeler customers and unveiled the Ola Hypercharger Network, the charging network for its upcoming two wheeler products starting with the Ola Scooter to be launched in the coming months. Ola will offer the most comprehensive set of charging options to its electric vehicle customers through a combination of widely deployed high-speed Ola Hyperchargers and the home-charger that will come bundled with the Ola Scooter.

The Ola Hypercharger Network will be the widest and densest electric two wheeler charging network in the world, with more than 100,000 charging points across 400 cities. In the first year alone, Ola is setting up over 5,000 charging points across 100 cities in India, more than double the existing charging infrastructure in the country.

EMOBILITY+ | MAY ISSUE 2021

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| INDIA NEWS

LATEST Mahindra & Mahindra Plans To Support Korean SsangYong Motors EV Business Korean car maker SsangYong Motors is struggling to stay afloat presently but its parent company Mahindra & Mahindra is looking to support its electric vehicle (EV) business.

SsangYong which has been in financial trouble recently applied for receivership in South Korea’s bankruptcy court, whereas Mahindra has been looking for a buyer for the South Korean brand. On its ‘MESMA 350’ platform, Mahindra plans to develop and supply the electric SUV drivetrain. This powertrain is mainly suitable for converting existing ICE (internal combustion engine) vehicles to electric and for making groundup EVs. As Mahindra Electric looks to de-risk its India business by supplying EV technology, especially for last-mile connectivity, it has been in discussions with several companies globally for this platform . Infact, it had showcased Mesma 350, scalable and modular architecture with a 350 Volt powertrain at the Auto Expo last year.

Rattan India Enterprises Invests Rs 150 cr In EV Maker Revolt Intellicorp Rattan India Enterprises is investing Rs 150 crore in electric motorcycle maker Revolt Intellicorp which is founded by Micromax co-founder Rahul Sharma. With this investment, the company will acquire a 43 per cent stake in Revolt. 50 per cent of the board seats in Revolt will be given to RattanIndia Group and Rajiv Rattan will take over as the non-executive chairman of the company. This funding will be utilised by the electric vehicles (EV) makerl to ramp up production and expand sales to more geographies after disruptions in the past year led to a delay in its plans and a long queue of waiting customers. It presently sells the RV400 electric motorcycle in six cities in India.

Bengaluru-based EV Start up Simple Energy Plans To Raise $15 million Simple energy which is a Bengaluru-based electric vehicle startup plans to raise $15 million (over Rs 112 crore) in funding from domestic and foreign venture capital funds ahead of the launch of its flagship e-scooter Mark 2 mid this year. The company said that the Series A funding is expected to be closed by the third quarter of this year, and the capital raised will be utilised in setting up a manufacturing facility, among others.

The funding might be backed by Venture capitals based in India and New York. 60% of the funds will be deployed to build a state-of-the-art manufacturing facility with a capacity to produce 50,000 vehicles annually. Whereas, the rest of the funds will go into setting up experience centers, and scaling up the workforce. It is looking to produce and sell 50,000 units in the first 12 months of its launch.

Ola Electric Plans To Take E-scooter To International Markets Ola Electric which is looking to launch its electric scooter in India in July 2021 is planning to take its electric scooter to international markets, including countries like France, Italy and Germany, this fiscal. The company has not yet disclosed details on pricing of the e-scooter. The launch of the electric scooter is in line with Ola’s global vision of moving mobility into a more sustainable, accessible and connected future.

The company has already announced that it is setting up a ‘Hypercharger Network’ for its electric vehicle. Ola had announced a Rs 2,400-crore investment for setting up its first electric scooter factory in Tamil Nadu last year. Upon completion, the factory will create nearly 10,000 jobs and will be the world’s largest scooter manufacturing facility that will initially have an annual capacity of 2 million units.

EMOBILITY+ | MAY ISSUE 2021

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INDIA NEWS |

NEW LAUNCHES Detel’s Easy Plus Electric Two-wheeler Launched Detel has launched the Easy Plus electric two-wheeler which is priced at ₹ 41,999 and is powered by a 20Ah Lithium-Ion battery and will establish market presence in Tier-II and Tier-III markets. The bike has a Pre Booking Amount of ₹ 1999. It can be pre booked from the company’s official website. It is available in 3 colors: Gunmetal, Metallic red and Black. The company will provide a personalised certificate to each buyer that highlights how their purchase of the EV has helped the environment. This is part of the DetelDecarboniseIndia initiative. In addition to this, a tree will also be planted by the Detel Foundation on the sale of every Detel electric vehicle.

Kabira Mobility Launches Electric Scooter Hermes 75 Kabira Mobility, a Goa based Electric vehicle (EV) startup launched a high-speed commercial delivery electric scooter, Hermes 75 priced at Rs 89,600 (ex-showroom Goa). The Hermes 75 has been designed to provide eco-friendly mobility solutions to the last mile delivery partners.

It comes with two options: one with a fixed and another with a swappable battery.

While the fixed battery can cover up to 120 km on a single charge, the swappable battery allows riders to cover 80 km in standard conditions on a single charge. The electric scooter has a 2500W motor that generates a peak power of 4000W with a maximum speed of 80 km/hour. The company had launched two electric bikes – KM3000 and KM4000 earlier this year. With this e-scooter, the company has expanded its product portfolio.

EV Startup Micelio Set To Launch Electric Two-wheelers For Last-mile Delivery Micelio which is a Bengaluru-based electric vehicle startup is planning to launch an electric two-wheeler focusing on the last-mile delivery market in India. The company has its presence currently in three cities – Bengaluru, Hyderabad and Chennai – and has four business verticals including Micelio Fund, Micelio Discovery Studio, Lighting Logistics and Product Company.

The company’s founder, Mr. Shreyas Shibulal mentioned that the ongoing pandemic had initially caused hindrance in the supply chain as components were to be imported from China. He added that the disruption was a blessing in disguise as it has led to a more diversified supply chain now.

Nexzu Mobility Launches The New And Improved Roadlark, India’s First And Only E-cycle That Goes Upto 100 kms In a Single Charge Nexzu Mobility has launched a new Made in India, super long range , electric vehicle that runs up to a 100 km in a single charge – the new Roadlark electric cycle. With a staggering 100 km riding range per charge, sturdy cold rolled steel frame, automotive grade build quality and customer centric features like a removable battery and dual disc brakes, the new Roadlark is a disruptive innovation that punches above its weight and can go toe to toe with most electric and even some petrol scooters. The Roadlark features a “dual battery system”.

Aprimary 8.7Ah lightweight, removable battery and a secondary 5.2 Ah in-frame battery that can be charged on domestic socket. The new Roadlark clocks an astonishing 100 km riding range on pedlec mode and 75 km range of throttle mode. The e-bike reaches a speed of 25km/hr for a safe and comfortable riding experience. It features dual ventilated disc brakes for effective stopping power and a rugged front suspension for best in class safety and riding comfort. The new Roadlark is priced at INR 42K and customers can directly purchase the product from Nexzu’s 90+ touch points or the Nexzu Mobility official website.

EMOBILITY+ | MAY ISSUE 2021

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POLICY DEBRIEF GOVERNMENT: CENTRAL Nitin Gadkari: India To Be The Top EV Maker In The World Recently, Union minister Nitin Gadkari was addressing the Amazon’s Smbhav Summit virtually where he mentioned that lithium-ion batteries would be manufactured fully in the country in the next six months and India will become number one electric vehicle maker in the world in due course of time. He also said that the government wants to encourage automakers to introduce flex-fuel engines in India and he is in the final discussion with manufacturers. He also mentioned that the government is also working to launch hydrogen fuel cell (HFC) technology which uses chemical reactions between hydrogen and oxygen (from air) to generate electrical energy, eliminating the use of fossil fuels. With India currently importing Rs 8 lakh crore worth of crude oil which is going to double in the next 4-5 years it is important to look for an efficient and alternative mode of energy. He even pointed out that in the next two years, the cost of electric vehicles will come down and will be as competitive as petrol and diesel vehicles.

NITI Aayog Recommends Higher Subsidy And Incentives For EVs The NITI Aayog in its status quo analysis of electric mobility in India, has recommended that the government should provide subsidies for electric vehicle purchase over and above the existing subsidy scheme for electric vehicle adoption under the Faster Adoption and Manufacturing the Electric Vehicles scheme. Besides this, it recommends that EVs should also be considered under priority lending. Also, the Niti Aayog has emphasised on the need for creation of non-financial incentives such as priority lanes, reserved parking for EV only vehicles in commercial places and shopping complexes. Besides, incentives for vehicle scrapping financing are needed. Along with these initiatives, the Aayog further suggested green zones be demarcated within cities to permit only EVs while heavy taxes to be charged on conventional fuel vehicles.

Department of Heavy Industries To Install 118 EV Charging Stations In Hyderabad The Department of Heavy Industries is working on installing 118 electric vehicle (EV) charging stations in Hyderabad. The plan is to cater to the needs of increasing battery vehicles in the city.

Apart from Hyderabad, 10 EV charging stations each will also be set up in Warangal and Karimnagar taking the total EV charging stations to 138 in the State. At present, there are 50 EV charging stations in Hyderabad, with most of them being located in metro stations. Telangana State Renewable Energy Development Corporation Ltd (TSREDCO), the nodal agency appointed by the State government, is responsible for setting up these 138 EV charging stations in the State and is gearing up to make these facilities available within six months. As far as facilities are concerned, the new EV charging stations will mostly have fast chargers, which will have five plugs and can charge a vehicle in 60 to 90 minutes.

EMOBILITY+ | MAY ISSUE 2021

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GOVERNMENT: STATE Goa Electric Vehicle Promotion Policy Proposes Huge Subsidies For Electric Vehicles Goa Electric Vehicle Promotion Policy has proposed huge subsidies for promoting eco-friendly electric two-wheelers and as per the draft, buying electric two-wheelers would be nearly 30% cheaper in Goa compared to buying two-wheelers running on petrol. The policy would be finalised within the next two months and will be put before the cabinet for approval. The objective of the policy is to encourage startups and investments in the field of electric mobility and associated sectors such as mobility as a service (MaaS), autonomous vehicles, data analytics and information technology, to promote service units which would include electric vehicles (EV) and battery repair and maintenance stations and to promote R&D, innovation and skill development within the EV sector. There are also plans to have charging stations every 25km on highways and every 3km within city limits. Battery swapping and fast charges are also included in this policy.

Andhra Pradesh Govt To Provide Electric Bikes To Employees On EMI The government of Andhra Pradesh is putting all efforts to make the state an e-vehicle hub. For this, it has formulated a scheme with funding support from central government agencies to supply electric two-wheelers to its employees on EMI basis.

The electric bikes will have a full charge range of 40 to 100 kilometres with three years’ annual maintenance. The amount can be repaid within 24 to 60 months with zero investment from the state government. New & Renewable Energy Development Corporation of AP Ltd (NREDCAP) shall be authorised to operate the EMI scheme for providing electric vehicles to all government employees as told by the State energy secretary Srikant Nagulapalli. It will also include cooperative societies, public sector undertakings and pensioners.

Uttar Pradesh’s 14 Cities To Get 700 Electric Buses In order to bring down pollution levels in the state, the Uttar Pradesh government is planning to operate 700 electric buses in 14 major cities of the state. Earlier, the electric buses were running on roads across seven cities but now the government intends to provide this service to seven more cities. The cities to get electric buses for the first time are Moradabad, Jhansi, Bareilly, Shahjahanpur, Ghaziabad, Gorakhpur and Aligarh. The cities that will get additional buses are Lucknow, Kanpur, Varanasi, Agra, Meerut, Mathura and Ghaziabad. More buses will be added to the fleet in the coming days and the routes will be upgraded to make buses run faster as well. Work has been initiated on the project by the Urban Transport Directorate after getting approval from the UP government.

The cities to get electric buses for the first time are Moradabad, Jhansi, Bareilly, Shahjahanpur, Ghaziabad, Gorakhpur and Aligarh."

EMOBILITY+ | MAY ISSUE 2021

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INCONVERSATION

RYAN LAEMEL PRINCIPAL, RMI

R y a n i s a p r i n c i p a l wi t h RMI ’ s I n d i a p r o g r a m, wh e r e h e s u p p o r t s I n d i a ’ s t r a n s i t i o n t o c l e a n mo b i l i t y .

He l e a d s r e s e a r c h , p r o j e c t , a n d c o n v e n i n g wo r k o n e l e c t r i c v e h i c l e s a n d u r b a n mo b i l i t y . Hi s research focuses on addressing barriers to electric vehicle adoption and advising g o v e r n me n t a g e n c i e s o n incorporating international best practices into national and state p o l i c y a n d i n c e n t i v e p r o g r a ms .

Please give our readers a brief idea about the present EV finance scenario in India.

India’s vehicle finance industry i s a l a r g e ma r k e t . Up wa r d s o f 5 0 p e r c e n t o f t wo - wh e e l e r s , 8 0 p e r c e n t o f p r i v a t e f o u r - wh e e l e r s , and 95 percent of freight vehicles sold in the country are f i n a n c e d t h r o u g h l o a n s . Cu r r e n t retail lending for vehicles from scheduled banks and non b a n k i n g f i n a n c i a l c o mp a n i e s ( NBF Cs ) i s a b o u t I NR 4 . 5 l a k h c r o r e ( US D 6 0 b i l l i o n ) . Ho we v e r , e l e c t r i c v e h i c l e ( E V) f i n a n c e ma k e s u p a v e r y s ma l l s h a r e o f t h a t ma r k e t —l e s s t h a n 1 p e r c e n t a c c o r d i n g t o o u r e s t i ma t e s —d u e t o t h e l o w s a l e s p e n e t r a t i o n o f E Vs t o d a y . Th a t s a i d , we e x p e c t E V s a l e s t o p i c k up due to rapidly falling battery cost, proven viability of new b u s i n e s s mo d e l s , a n d s o c i a l d e ma n d t o r e d u c e h a r mf u l a i r p o l l u t i o n . Th e E V f i n a n c e ma r k e t wi l l g r o w i n l o c k s t e p wi t h s a l e s .

EMOBILITY+ | MAY ISSUE 2021

''UPWARDS OF 50 PERCENT OF TWO-WHEELERS, 80 PERCENT OF PRIVATE FOUR-WHEELERS, AND 95 PERCENT OF FREIGHT VEHICLES SOLD IN THE COUNTRY ARE FINANCED THROUGH LOANS.''

Are there any specific untapped opportunities in the EV sector which if focussed upon can lead to significant improvements?

Besides the measures being taken by the Indian Government for encouraging and promoting electric vehicles, what more do you think the government should do in this regard?

T h e n e e d o f t h e h o u r f o r E Vs i s t o f i g u r e o u t h o w t o mo b i l i s e l o wc o s t c a p i t a l a t s c a l e . To d o t h a t , t h e e c o s y s t e m mu s t a d d r e s s t h e ma i n c o n c e r n o f f i n a n c i a l i n s t i t u t i o n s : r i s k . As s e t r i s k a n d b u s i n e s s mo d e l r i s k a r e t h e r o o t causes of the higher interest rates, l a r g e r d o wn p a y me n t s , a n d l o n g e r loan tenures being incurred by EV b u y e r s t o d a y . I n R MI ’ s r e c e n t r e p o r t , Mo b i l i s i n g F i n a n c e f o r E Vs i n I n d i a , c o - a u t h o r e d wi t h NI TI Aa y o g , we p r o p o s e a t o o l k i t o f f i n a n c i a l i n s t r u me n t s f o r l e a d e r s i n g o v e r n me n t , i n d u s t r y , a n d p r o d u c t finance to help reduce risk and l o we r c o s t o f c a p i t a l . We s e e opportunities for industry to take the lead on EV finance, from s h a r i n g d a t a o n E V p e r f o r ma n c e , to providing better guarantees and wa r r a n t i e s , t o s u p p o r t i n g s e c o n d a r y ma r k e t c r e a t i o n t h r o u g h b u y b a c k p r o g r a mme s .

Central departments and ministries, including the Department of Heavy Industry and Ministry of Road Transport and Highways, are supporting vehicle electrification with fiscal and non fiscal incentives. NITI Aayog, Ministry of Power, Ministry of Housing and Urban Affairs, the Goods and Services Tax Council, and other bodies have also introduced policy measures and programmes to promote EV adoption. A set of financial instruments can complement those efforts. The central government can include EVs in the Reserve Bank of India’ s priority sector lending (PSL) guidelines to incentivise banks to increase lending towards the sector. State governments can introduce interest rate subventions to lower interest rates on loans for vehicle segments with larger cost parity gaps.

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What is your outlook on the EV finance industry for the next 5 years?

By 2 0 2 5 , we e x p e c t t h e E V f i n a n c e ma r k e t t o g r o w t o a b o u t I NR 0 . 4 l a k h c r o r e ( US D 5 b i l l i o n ) . An d b y 2030, it has the potential to reach a b o u t I NR 3 . 7 l a k h c r o r e ( US D 5 0 billion) according to our analysis.

Loan-to-value ratios and financing p e n e t r a t i o n l e v e l s f o r E Vs wi l l increase steadily over this t i me f r a me t o b e o n p a r wi t h t h o s e o f i n t e r n a l c o mb u s t i o n e n g i n e v e h i c l e s . Wi t h t h i s g r o wt h o n t h e h o r i z o n , i t i s i mp o r t a n t f o r f i n a n c i a l i n s t i t u t i o n s t o s t a r t e n g a g i n g wi t h t h e a u t o i n d u s t r y a n d p o l i c y ma k e r s today to chart a path to bankability f o r mo r e E V a s s e t s , i n f r a s t r u c t u r e , and businesses.

OVER THE NEXT DECADE, A CUMULATIVE CAPITAL INVESTMENT OF INR 19.7 LAKH CRORE (USD 266 BILLION) WILL BE REQUIRED FOR EVS, CHARGING INFRASTRUCTURE, AND BATTERIES.

According to you, how is India currently positioned to receive investment for EVs? What more can be done to scale it up?

India’s transition from internal c o mb u s t i o n e n g i n e s t o e l e c t r i c d r i v e t r a i n s wi l l c r e a t e j o b s a n d p r e s e n t i n v e s t me n t o p p o r t u n i t i e s f o r d o me s t i c a n d f o r e i g n i n v e s t o r s .

Ov e r t h e n e x t d e c a d e , a c u mu l a t i v e c a p i t a l i n v e s t me n t o f I NR 1 9 . 7 l a k h c r o r e ( US D 2 6 6 b i l l i o n ) wi l l b e r e q u i r e d f o r E Vs , c h a r g i n g i n f r a s t r u c t u r e , a n d b a t t e r i e s . On e e x a mp l e o f a p r o mi s i n g i n v e s t me n t a r e a i s a d v a n c e d c h e mi s t r y c e l l ( ACC) b a t t e r i e s . Th i s p a s t we e k , t h e Ca b i n e t a p p r o v e d t h e p r o d u c t i o n l i n k e d i n c e n t i v e ( P L I ) s c h e me f o r ACC b a t t e r i e s wi t h a b u d g e t o u t l a y o f I NR 1 8 , 1 0 0 c r o r e ( US D 2 . 4 b i l l i o n ) . Th a t p r o g r a mme a i ms t o i n c e n t i v i s e t h e d e v e l o p me n t o f 5 0 GWh o f d o me s t i c b a t t e r y ma n u f a c t u r i n g c a p a c i t y , wh i c h wi l l require billions of dollars of i n v e s t me n t a n d c r e a t e t h o u s a n d s of jobs.

EMOBILITY+ | MAY ISSUE 2021

By 2025, we expect the EV finance market to grow to about INR 0.4 lakh crore

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INCONVERSATION

VARUN GOENKA CO-FOUNDER AND CEO, CHARGE-UP

I n a n e x c l u s i v e c o n v e r s a t i o n wi t h E Mo b i l i t y + , Mr . V a r u n Go e n k a , Co - f o u n d e r a n d CE O, Ch a r g e - u p speaks about the journey of the c o mp a n y a n d t h e n e e d a n d i mp o r t a n c e o f b a t t e r y s wa p p i n g f o r g r e a t e r E V a d o p t i o n . He a l s o t h r o ws l i g h t o n t h e c o mp a n y ’ s 2 mi n u t e b a t t e r y s wa p p i n g s o l u t i o n s a n d t h e f u t u r e g r o wt h plans.

Please give us a brief history of Charge-up and its journey?

Ch a r g e - u p , f o u n d e d b y Va r u n Go e n k a a n d Ak s h a y K a s h y a p i n 2 0 1 9 i s b u i l d i n g Bh a r a t ’ s l a r g e s t b a t t e r y s wa p p i n g n e t wo r k f o r e r i c k s h a ws . P o we r i n g I n d i a ’ s e l e c t r i c mo b i l i t y t a r g e t , t h e c o r e o b j e c t i v e o f Ch a r g e - u p i s t o create the largest distribution n e t wo r k f o r e l e c t r i c 2 &3 wh e e l e r s . We h a v e a d o p t e d a n advanced technology driven a p p r o a c h t h r o u g h wh i c h we o f f e r Ba t t e r y a s a S e r v i c e ( Ba a S ) solutions to e-rickshaw drivers.

Th e c o mp a n y e n a b l e s t h e e – rickshaw drivers to join the s e r v i c e wi t h o u t a n y u p f r o n t c o s t s . By s u b s c r i b i n g t o a d a i l y b a t t e r y r e n t a l p l a n , Ch a r g e - u p a l l o ws t h e d r i v e r s t o v i s i t t h e s wa p p i n g s t a t i o n a s ma n y a s 2 - 3 t i me s a d a y t o s wa p t h e d i s c h a r g e d b a t t e r i e s wi t h f u l l y – c h a r g e d b a t t e r i e s . Ch a r g e - u p i s distinct in its endeavours due to i t s f o c u s o n a s s u r e d k ms , i t s b a t t e r y s wa p p i n g l o c a t i o n s a n d best price per km it offers.

EMOBILITY+ | MAY ISSUE 2021

''CHARGE-UP, FOUNDED BY VARUN GOENKA AND AKSHAY KASHYAP IN 2019 IS BUILDING BHARAT’S LARGEST BATTERY SWAPPING NETWORK FOR E-RICKSHAWS.'' T o a c h i e v e t h i s , we a r e b u i l d i n g a n e c o s y s t e m wh e r e i n e a c h dealer partner caters to a mi n i mu m o f 2 5 - 3 0 d r i v e r s p e r s t a t i o n , e n j o y i n g g r e a t e r ROI . Wi t h 4 0 % mo n t h o n mo n t h g r o wt h , Ch a r g e - u p i s a d d i n g a s t a t i o n e v e r y we e k t o i t s c u r r e n t p o o l o f 12 active stations spread across De l h i . Cu r r e n t l y t h e r e a r e o v e r 4 0 0 d r i v e r s o n t h e Ch a r g e - u p p l a t f o r m c o v e r i n g mo r e t h a n 4 l a k h k m p e r mo n t h . We a r e o n t h e path to achieving 200 stations wi t h I NR 3 c r o r e MR R i n t h i s F Y .

What makes battery swapping the best solution to improve EV adoption in India?

Ba t t e r y s wa p p i n g i s advantageous over other options for various reasons. It helps e l i mi n a t e r a n g e a n x i e t y .

Co n v e n t i o n a l l y , o n c e a v e h i c l e ’ s battery discharges, there is no other option, but to park it for the

day. The old chargers take several hours to recharge the battery. This is the reason why over a million e-rickshaw drivers in India continue to earn around INR 800 per day or less as they can operate no more than 80 km on an average daily. Through battery swapping, a vehicle owner can simply drive into a battery swapping station (BSS) and ride out with a fully charged battery within minutes. Further, the battery swapping system also eliminates the need for buying or managing batteries as the swapping service provider takes care of these needs. Removing battery cost from the equation can make EVs cheaper by up to 40% and make them affordable for fleet owners. Since there are ample fully charged batteries available at a BSS which can be swapped in 2 minutes, there is no need for the vehicle to remain out of use for long hours and it greatly improves the utility of EVs for fleet operators.

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What are the key features of your well known 2-minute battery swapping solutions?

Th e 2 mi n u t e b a t t e r y s wa p p r o mi s e a t Ch a r g e u p s t a t i o n s has been possible because of t h e l i g h t we i g h t o f b a t t e r i e s , easy plug and play system wh i c h e n a b l e s t h e d r i v e r t o c h a n g e t h e b a t t e r i e s wi t h i n n o t i me wi t h o u t a n y a s s i s t a n c e and further to add on it is the t e c h p l a y , wh e r e t h r o u g h o u r a p p i t e l i mi n a t e s t h e t i me t a k e n f o r t h e t r a n s a c t i o n . Ou r system has in-built IoT and CAN wh i c h f a c i l i t a t e s c o n s t a n t tracking and battery p e r f o r ma n c e mo n i t o r i n g t h r o u g h a n a l y t i c s . We p r o v i d e De a l e r E RP t o e n a b l e e a s y i n v e n t o r y ma n a g e me n t a t t h e dealer’s end and also have a mo b i l e a p p i n p l a c e f o r s e a ml e s s f u n c t i o n i n g . We a r e c o n s t a n t l y wo r k i n g t o wa r d s using this cutting-edge technology driven solution to transform the Indian EV battery c h a r g i n g ma r k e t i n t h e t i me s t o c o me .

WE ARE CONSTANTLY WORKING TOWARDS USING THIS CUTTINGEDGE TECHNOLOGY DRIVEN SOLUTION TO TRANSFORM THE INDIAN EV BATTERY CHARGING

How do you see EV charging ecosystem evolving in India post-Covid?

MARKET IN THE TIMES

Th e p a n d e mi c l o c k d o wn s have repeatedly disrupted mo b i l i t y a c r o s s I n d i a a n d t h e E V c h a r g i n g e c o s y s t e m’ s g r o wt h h a s a l s o b e e n t e mp o r a r i l y s l o we d d o wn b y s u c h d i s r u p t i o n s . Ho we v e r , there is a greater push t o wa r d s b u i l d i n g infrastructure such as battery s wa p p i n g a n d c h a r g i n g s t a t i o n s a c r o s s I n d i a . Wi t h e mp h a s i s o n e n v i r o n me n t f r i e n d l y a n d s a f e me a s u r e s , t h e d e ma n d f o r E Vs wi l l i n c r e a s e i n t h e l a s t - mi l e c o n n e c t i v i t y s e g me n t . E l e c t r i c t h r e e wh e e l e r s a r e g o i n g t o gain popularity and the

increase in numbers of vehicles on roads as well as higher demand for charging solutions will be witnessed.

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TO COME.

The central as well as various state governments have been proactively acquiring EV fleets for their own needs. In the years ahead, we will see the EV adoption grow in public transportation especially localized fleet operations for urban transport and last-mile connectivity. Within the next 10 years, EV adoption in India is expected to follow the same trajectory as CNG vehicle adoption took some years ago.

Even then the transformation

was led by buses and three wheelers and eventually by fleet operators, and we will witness the same trend again.

Where do you see your company growing in the next few years?

The tipping point for Electric v e h i c l e s i s g o i n g t o c o me f r o m l a s t mi l e mo b i l i t y a n d wi t h Ch a r g e u p b e i n g o n e o f t h e e a r l y mo v e r s we h a v e a s i g n i f i c a n t advantage due to the data and our understanding of battery t e c h n o l o g y a n d c o n s u me r b e h a v i o u r . We a r e n o t o n l y e n s u r i n g a s s u r e d k ms a n d a c h a r g e u p s t a t i o n a t e v e r y 2 k ms radius but also building the next g e n I OT t e c h n o l o g y t o ma k e t h e b a t t e r i e s s ma r t e r , wh i c h wi l l a c t a s a c a t a l y s t f o r t h e wh o l e e c o s y s t e m t o g r o w.

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PERSPECTIVE WHAT MAKES EV BUSINESS AN ATTRACTIVE INVESTMENT DESTINATION?

We can see that the automotive industry globally is undergoing a paradigm shift at present wherein all the major companies are trying to switch to alternative/electric options. India, too, is not behind and is investing in this electric mobility shift.

We have a number of solid reasons to actually do that.

The burden of oil imports, rising pollution, and international commitments to combat global climate change are among key factors motivating India’s recent policies to speed up the transition to e-mobility.

By making the shift towards electric vehicles (EVs), India stands to benefit on many fronts: it has a relative abundance of renewable energy resources and availability of skilled manpower in the technology and manufacturing sectors.

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Nevertheless, while the EV industry is growing in India, it has much ground to cover to be able to realize the government’s ambitious 2030 target.

Especially with the COVID-19 pandemic, not only did the industry’s progress slow down, but also the overall market demand fell. Hence, we have a considerable amount of work to be done in order to improve the investment outlook for the Electric vehicle business in India.

Some of our experts were asked about what makes the EV business an attractive investment option and here are some great insights from them...

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JEETENDER SHARMA MD & FOUNDER, OKINAWA AUTOTECH

By 2030, about 30% private cars, 70% commercial cars, 40% buses, and 80% two wheelers and three could be EVs The increasing fiscal deficit due to crude oil import, efforts to combat the changing climate, the need for creating local manufacturing capacity and jobs, all these factors put together are proving to be the catalysts for the electric vehicle (EV) industry in India. While EVs have been in discussion and existence since, the recent surge in adoption is on the account of increased innovation, which has bridged the gap between total cost of ownership (TCE) for an EV and internal combustion engine (ICE). This, sure enough, is a reason for increased investors’ appetite for exploring a high potential marketer where valuations are far from peak.

Scratching slightly beneath the surface, despite short term supply issues on account of Covid-19, India is one of the largest automotive markets in terms of sales volumes. As per Society of Indian Automobile Manufacturers (SIAM), about 21.5 million vehicles were sold in the country. While at the moment, EVs make a small fraction of this sales, the trend is fast changing with strong policy push at states as well as Center Government’s level. For instance, Center Government’s strategic think tank NITI AAYOG has charted out Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) and many other policy interventions which are propelling the sector in the right direction. NITI AAYOG also projects that these measures, if implemented in the right spirit, can increase the penetration of EVs in India to 30% of private cars, 70% of commercial cars, 40% for buses, and about 80% for two wheelers (2W) and three wheelers (3W) by 2030.

As per the KPMG-CII report titled ‘Shifting Gears: The Evolving Electric Vehicle Landscape in India’, light electric mobility will be the crusader of EV growth story in the country, as with the pace of adoption for 2Ws and 3Ws expected to pick up in the coming years. In India, 2Ws dominate EV sales, given their value for money proposition, both in terms of upfront price and fuel economy. The position will further strengthen as prices of petrol inch up, in line with global crude prices. The report also draws several similarities between India’s electric light mobility story and the rise of China’s EV market, where electric bikes and scooters played a key role towards building demand and adoption, which had a further trickle down effect in other segments. Intra- city transport buses are also ripe for EV adoption.

FAME II subsidies along with monetary incentives from some state Governments, for example, Delhi, have helped customers own an EV at more affordable prices. Some other state Governments have been incentivizing the supply-side stakeholders to make investment in the EV sector more attractive and create more employment opportunities. This combination of demand and supply side incentives will go a long way towards reducing the upfront cost differential

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between ICEs and EVs and make EVs a sought-after proposition for consumers and businesses. Besides these incentives, the Governments have also been working with industry stakeholders to speed up the development of the EV ecosystem, i.e., charging points, retail sales and finance network, skilled professionals, R&D and manufacturing facilities and so on. These elements will have a cascading effect on demand and adoption of EVs in the country. All in all, the stage is set for India’s EV industry to usher into a new era of clean and more affordable way of transport. The industry will see massive investment into various aspects, which bear fruit over mid to long term. Considering the initial signs, for investors looking for new, high growth, long term avenues, India’s EV industry is one of the most appropriate choices.

PRABHAT KHARE DIRECTOR, KK CONSULTANTS IIT ROORKEE GOLD MEDALIST

The current EV technology is standing at a similar place where ICEV technology was standing in early 1900, a time when mobility sectors were ruled by horse buggies & carriages. Being better, efficient, convenient, it is just a matter of time EVs will overtake ICEVs disrupting the complete automotive world. With EVs arrival, automobiles are slowly becoming off the shelf consumer goods. in which almost all technology giants like Apple, Sony, LG, Huawei, Oppo and Xiomi etc. are foraying with full force. The future of automobiles is not going to remain the same. The arrival of EVs is going to open up a host of new business opportunities as well as challenges in Indian automotive sector where conventional wisdom may not survive. Global EV industry is projected to grow from US$ 246.74 Billion in 2020 to US$ 985.72 Billion in 2027 at a CAGR of 17.4% and considering the fact that India' s oil import bill is around US$ 101.4 billion, India had to jump into thus new means of mobility.

In the last FY (2019~20), the EV sales in India were merely 0.38 million units, in which the electric 2W was the highest selling product. The EV battery market was at 5.4 GWh during the same year (IESA report, released in Dec’2020). With the recent push from GoI for electrical mobility through its new EV policy, the EV market is expected to grow at a CAGR of 44% during 2020~2027 hitting 6.34-million-unit annual sales by 2027. The annual battery demand is forecasted to grow at 32% CAGR to hit US$ 15 billion by 2027 (with a capacity of 50 GWh out of which 40+ GWh would be Li-Ion).

With such a high growth rate in EV market, while it will be offering new opportunities in already established automobile businesses, it is going to open many new business opportunities in the areas of engineering, electronics, software & hardware, energy & battery management, automation and control system to name a few, covering complete market verticals. We take a look at some of these.

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Battery Charging & Battery Management: With the rise of

a.

b.

EVs, one sector which is going to explode is the battery management sector. Considering the economies of scale, though we may not be able to compete in battery manufacturing, there are many other business avenues for entrepreneurs to pitch in. Considering the current battery technologies, it can be confidently said that present batteries fitted on EVs may last anything between 10~20 years before they need replacement. However for their daily run charging would any way be needed wherever these EVs go. This factor alone opens up few major business opportunities in times to come e.g.

Building Charging Infrastructure : This is one opportunity area which is the basic need for any EV based mobility ecosystem. It’s the life line and would rise exponentially as the numbers of EVs on the road go up, needing a large-scale energy distributed infrastructure of battery charging. While it may look simple, yet this segment alone opens up many other interlinked tier 2 business opportunities involving DISCOMs, backward integration of charging station with 24*7 power supply as well as integrated metering, remote control & monitoring, billing & monetary transaction system.

Creating Battery Swap Stations: With growing electric 2W/3W

EVs, batteries swapping is a possibility, if batteries are standardised by consensus or by regulation for these 2W/3 W EVs. However, till then these stations may have to stock batteries of several kinds/ types, a challenge yet with a good business prospects for providing ready to move, instant power to the drained 2W/3Ws instead of waiting at the charging station during the charging time. Some 2W EV manufactures have already tried to create such swapping stations which may need to be expanded across the country in order to increase acceptability of EVs. Let us see how this sector evolves in future with the coming up of a few Giga factories for 2W EVs having massive capacities but one this is sure that the battery swap business would be a winning c. strategy in times to come.

Battery Refurbishing/ Regeneration: When a battery reaches

its end of usable life, there are two options: the most common is to replace it and send the old battery goes for recycling, both means have their own cost implications to both vehicle owner as well as recycler. This approach may not also be environmentally friendly apart from being highly capital intensive. Battery refurbishing or regeneration could be a solution which is an engineering process adopted by which batteries are brought back to a level which is functionally acceptable for a healthy performance. Moreover, this also is an environmentally friendly process due to less burden on the environment for creating new batteries needed for d. replacement and also for batteries getting disposed of.

Battery Recycling: This is an End of Life Treatment process

for batteries. Though there are recyclers available for LeadAcid Batteries used in existing 3W EVs, for other battery alternatives like Li-Ion, Al-Air Battery, and Fuel Cell etc. used in other EVs existing recycling technologies need to mature for commercialisation. However, with the current “battery war” going on behind the door, Li-Ion Batteries (70% market share) look to be the present leader. But if safe ways of recycling LiIon batteries are not established in time, very soon these EVs would be creating an e-waste time bomb for the coming generation. It is estimated that from the EVs sold globally in 2017 alone, in next 8~10 years, about 250 Million Tonnes of spent lithium-ion batteries would be generated & with

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approximate volume of about 0.5 million Cubin meters, would be enough to fill the Royal Albert Hall in London almost six times. The situation would be more serious than what we currently face with ICEVs related to fall in AQIs & global warming. Hence there are large business possibilities in developing process, mechanism & technologies to recycle the discarded Li-Ion batteries from EVs.

Development of New Supplier Base: The rise of EVs would

be needing new tooling, new machining, new processes & new components in the existing US$70 billion Indian automobile components industry. The existing ancillary units will have to gear up for this new challenges and diversify as the automobiles move from being purely mobility means to consumer goods. In times to come probably most of the current manufacturing technologies would become irrelevant/ obsolete as EVs won’t be requiring many of them.

The new EV ancillary industry would be based on high end automated technologies involving robotics, cobotics, 3D printing, high end electronics, new age electrical motors & solid state drive technologies (battery manufacturing will be a separate segment in itself) yet retaining some of the existing technologies. Many studies indicate that the current US$ 58 billion, Indian auto ancillary market will be more than US$ 200 billion by 2027, with a major chunk going to EV’s related business.

Vehicle Scrapping: With launch of Vehicle Scrappage

Policy 2021, this new business avenue has already been opened. While India' s first authorized recycling plant has already been set up in Greater Noida, a New Zealand-based NRI of Punjab origin has also set up India’s first auto shredding plant in Punjab. With almost 380 Million Vehicles produced in India since 1971 most of which have never left the road, there are huge business opportunities in this business sector which literally is a gold mine.

Training & Skill Development: The rise of EVs, would need special skill sets in future technicians/ engineers, thus providing great business opportunities in the areas of training and skill development. Unlike the ICEV era during which the skills to handle ICEV were primarily acquired by hit & trial, complex skills needed to handle the EVs would require a highly structured, systematic and professional approach. Being sensitive to this expected future need, the GoI has already established many Skill Sector Councils under National Skill Development Corporation (NSDC).

However to handle the projected growth numbers of EVs, the country would be needing large-scale skilling both in organised and unorganised sectors all across the country at various levels. This is an area in which I see a tremendous business opportunity in a wide range of areas of mechanics, electrical & electronics, controls, battery management & programming etc.

Last Mile Connectivity: Though this is already happening

with 3W EVs which have replaced manual rickshaws in almost all the cities of India for good. Yet believing in Darwinian growth I believe that in times to come CAEVs (Connected & Autonomous EVs) would supersede EVs and would serve short distance movement needs of people – with a specified area range - unmanned & geo-fenced This would be offering many interesting business opportunities in times to come from operating & managing these CAEVs, maintaining them, monitoring the utilisation & performance as well as managing their parking etc. However this is a possibility and only time will tell how soon it becomes reality. .

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INSIGHTS HOW IS THE INDUSTRY REIMAGINING THE CONCEPT OF EV CHARGING STATIONS IN INDIA? AMIT GUPTA BUSINESS HEAD EISBG, DELTA ELECTRONICS INDIA PVT LTD.

The EV Revol ut i on i s goi ng on worl dwi de i n order t o f ul f i l t he commi t ment t owards sust ai nabi l i t y.

Vehi cul ar emi ssi ons const i t ut e 27% of Ai r pol l ut i on i n I ndi a .

GoI has commi t t ed t o convert i t s 25% Vehi cl es i nt o al l -el ect ri cs by 2025 . Fast er Adopt i on and Manuf act uri ng of El ect ri c Vehi cl es (FAME) scheme was l aunched under Nat i onal El ect ri c Mobi l i t y Mi ssi on Pl an 2020. The Scheme has been ext ended f rom t i me t o t i me. Government has approved f urt her ext ensi on as Phase-I I of FAME Scheme f or a peri od of 3 years commenci ng f rom 1st Apri l 2019.

Out of t ot al budget ary support of 10000 Crores, Rs. 1000 Crores has been al l ocat ed t owards creat i on of Chargi ng I nf rast ruct ure. The Mi ni st ry of power has been appoi nt ed as Nodal Mi ni st ry t o i ni t i at e t hi s movement and DHI has been appoi nt ed t o di sburse demand i ncent i ves/subsi di es.

The Depart ment of Heavy I ndust ri es has sanct i oned 2636 chargi ng st at i ons i n 62 ci t i es across 24 St at es/UTs under FAME I I , t o gi ve a push t o cl ean mobi l i t y i n Road Transport .

Understanding the challenges and solutions to accelerate the EV revolution: To s e t u p E V Ch a r g i n g I n f r a s t r u c t u r e , i t i s necessary to evaluate current challenges Th e l o w a d o p t i o n o f E Vs a t p r e s e n t i s l e a d i n g t o l o we r E l e c t r i c Ve h i c l e F o o t f a l l a t c h a r g i n g i n f r a s t r u c t u r e . Du e t o u n d e r u t i l i z a t i o n o f infrastructure the financial viability of the p r o j e c t g e t s i mp a c t e d . Gi v e n t h e h i g h c o s t o f establishing an EV charging station, the only wa y t o ma k e f a s t c h a r g i n g s t a t i o n s f i n a n c i a l l y viable is to increase their utilisation.

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Av a i l a b i l i t y o f L a n d wi t h a d e q u a t e i n f r a s t r u c t u r e & p a r k i n g s p a c e : CI VI C b o d i e s p l a y i mp o r t a n t r o l e s i n ma n a g e me n t & a l l o c a t i o n o f l a n d a t p u b l i c p l a c e s .

Ne c e s s a r y c l e a r a n c e s ma y t a k e t i me wh i c h i n r e t u r n s l o ws t h e o v e r a l l g r o wt h o f d e v e l o p me n t . : Gr i d I n f r a s t r u c t u r e i s a n o t h e r c r u c i a l c h a l l e n g e i n t h e d e v e l o p me n t o f Ch a r g i n g I n f r a s t r u c t u r e .

Un a v a i l a b i l i t y o f a d e q u a t e Gr i d c o n n e c t i o n & L T / HT I n f r a c a n b e a r o a d b l o c k . Al s o , t h e s a f e t y r e q u i r e me n t s s h o u l d n o t b e o v e r l o o k e d . Vo l t a g e f l u c t ua t i o n s , g r o u n d f a u l t s , a n d o v e r c u r r e n t c a n a l l be dangerous. If there is a sudden spike in voltage, t h e e x p e n s i v e c o mp o n e n t s ma y b e d a ma g e d . I n a d d i t i o n , n o i s e f i l t e r i n g c o mp o n e n t s mu s t b e i n s t a l l e d wi t h c a r e a n d t o k e e p v o l t a g e f l u c t u a t i o n s u n d e r c o n t r o l , s e n s o r s s u c h a s p r o x i mi t y s e n s o r s a n d c o n t r o l p i l o t s e n s o r s mu s t b e i n t e g r a t e d .

De c i d i n g t h e E VS E ( E l e c t r i c Ve h i c l e s u p p l y e q u i p me n t ) o r E V Ch a r g e r i s c r u c i a l . I t i s d e c i d e d b a s e d u p o n t h e Ve h i c l e f o o t f a l l , c h a r g e r t y p e , c h a r g e r c o mp a t i b i l i t y , c o n n e c t o r t y p e a n d i n v e s t me n t c o s t . Wh e n i t c o me s t o c o mme r c i a l c h a r g e r s , DC c h a r g e r s a r e a l i t t l e e x p e n s i v e , h o we v e r t h e y p r o v i d e q u i c k c h a r g i n g . AC c h a r g e r s are low cost alternatives, but they are slow chargers a n d a r e n o t s u i t a b l e f o r P u b l i c Ch a r g i n g s t a t i o n s a l o n g t h e r o a d a n d h i g h wa y s . An o t h e r i s s u e i s t h a t t h e r e a r e s o me s t a n d a r d c o n n e c t o r g u n s i n t h e c a s e o f DC c h a r g e r s b u t n o s i n g l e u n i v e r s a l c h a r g e r g u n .

Ge n e r a l l y , t wo c o n f i g u r a t i o n s a r e p o p u l a r i n I n d i a , CCS & Bh a r a t DC0 0 1 f o r f a s t DC Ch a r g i n g a n d AC t y p e 2 f o r AC Ch a r g i n g . I n c a s e o f E - b u s e s , E V Ch a r g e r r e q u i r e d a s p e r OE M r e q u i r e me n t ; CCS & GB/ T s t a n d a r d a r e p o p u l a r c o n f i g u r a t i o n s . Wh i l e o n t h e s i d e o f 2 W, t h e r e is no specific standard hence no adequate charging no specific standard hence no adequate charging infrastructure could be created, only 3pin socket based s ma l l c h a r g e r s c a n b e i n s t a l l e d i n t h e c i t y .

Op e r a t i o n a n d Ma i n t e n a n c e o f E VS E : E V Ch a r g e r i s a s ma r t ma c h i n e wh i c h s u p p o r t s c l o u d c o n n e c t i v i t y wi t h a r e mo t e c o n t r o l a n d c o mma n d f e a t u r e s . OCP P i s a s t a n d a r d p r o t o c o l wh i c h i s u s e d t o t r a n s mi t t h e d a t a f r o m Ma c h i n e to Cl o u d a n d e v e n t u a l l y , a l l t h i s d a t a c a n b e a c c e s s e d u s i n g CMS . CMS p r o v i d e s a l l a n al y t i c s & p a r a me t e r s o f t h e c h a r g e r o p e r a t i o n .

Ma i n t a i n i n g t h e Ch a r g e r f o r c o n t i n u o u s o p e r a t i o n i s a l s o r e q u i r e d wh i c h i n c l u d e s t i me l y s e r v i c e s o f E VS E , f i l t e r c l e a n i n g e t c .

Af t e r d i s c u s s i n g t h e c h a l l e n g e s , i t c a n b e s t a t e d t h a t the lack of adequate charging infrastructure, Low adoption of EV vehicles due to high on-road price and

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t h e l o n g t i me i t t a k e s t o c h a r g e a n E V v e r s u s f u e l i n g u p a n i n t e r n a l c o mb u s t i o n e n g i n e - b a s e d v e h i c l e a r e t h e ma j o r r o a d b l o c k s t o t h e s u c c e s s o f t h e E V s c h e me . Ho we v e r , we h a v e s o l u t i o n s a s we l l a s p r o b l e ms . Th e s t a t e a n d f e d e r a l g o v e r n me n t s h a v e b e e n wo r k i n g t o e n c o u r a g e t h e c o u n t r y ' s a d o p t i o n o f electric vehicles by enacting new policies and e s t a b l i s h i n g n e w ma r k e t s t r u c t u r e s f o r e l e c t r i c v e h i c l e s . Th e I n d i a n g o v e r n me n t i n t e n d s t o r a p i d l y i n c r e a s e t h e n u mb e r o f c h a r g i n g s t a t i o n s a c r o s s t h e c o u n t r y . Th e r e a r e p l a n s t o i n s t a l l o v e r 6 9 0 0 0 f u e l s t a t i o n s , wi t h e a c h p e t r o l p u mp r e c e i v i n g a t l e a s t o n e E V c h a r g e r . Ad d i t i o n a l l y t h e n e w E V c h a r g i n g s t a t i o n s are planned by private operators.

Th e Bu r e a u o f I n d i a n S t a n d a r d s a n d t h e De p a r t me n t of Science are collaborating to standardise the i n s t a l la t i o n o f E V c h a r g i n g i n f r a s t r u c t u r e a n d r e d u c e the associated costs. In addition, there is a lot of d i s c u s s i o n g o i n g o n a r o u n d t h e wo r l d a b o u t a d o p t i n g t h e J a p a n e s e CHAd e MO, t h e E u r o p e a n Co mb i n e d Ch a r g i n g S y s t e m ( CCS ) , a n d t h e I n d i a n Bh a r a t Standard.

Wi t h s u c h e n c o u r a g i n g s t e p s b e i n g t a k e n t o i n c r e a s e t h e n u mb e r o f c h a r g i n g s t a t i o n s i n t h e c o u n t r y , we c a n c e r t a i n l y e x p e c t t o s e e a n i n c r e a se i n t h e n u mb e r o f E l e c t r i c Ve h i c l e s o n t h e r o a d i n t h e c o mi n g y e a r s .

At De l t a , we h a v e a wi d e r a n g e o f c h a r g e r s f r o m 3 . 3 k W t o 8 0 k W AC Ch a r g e r a n d 1 5 k W t o 2 4 0 k W DC Ch a r g e r , c u s t o mi z e d b a t t e r y s wa p p i n g s t a t i o n s , Ou r c h a r g e r s a r e i n d i g e n o u s l y d e v e l o p e d a n d ma d e i n I n d i a . Th e u s e r c e n t r i c i n t e r f a c e d e s i g n o f De l t a ' s DC c h a r g e r s a l l o ws s t a t i o n s t o b e c o n f i g u r e d i n t h e mo s t p r a c t i c a l ma n n e r f o r t h e s i t u a t i o n ( e . g . , i s l a n d , s t a r , o r p a r k i n g l o t c o n f i g u r a t i o n s ) . Th i s h e l p s t o a v o i d queuing and ensures that EV drivers can charge their E V a n d b e o n t h e i r wa y a s s o o n a s p o s s i b l e . On e o f t h e p r i ma r y b e n e f i t s o f De l t a ' s mo d u l a r DC c h a r g e r d e s i g n i s t h a t i t r e d u c e s d o wn t i me wh i l e i n c r e a s i n g a v a i l a b i l i t y . De l t a ' s DC c h a r g e r s s u p p o r t CHAd e MO, CCS 1 , a n d CCS 2 DC p o we r c o n n e c t o r s a n d h e n c e a r e c o mp a t i b l e wi t h a n y E V c u r r e n t l y i n t h e ma r k e t .

Th e r e f o r e , i n o r d e r f o r d r i v e r s t o b e mo r e wi l l i n g t o a d o p t E Vs , c h a r g i n g i n f r a s t r u c t u r e mu s t b e c o me mo r e wi d e l y a v a i l a b l e , a n d t h e s e d e v e l o p me n t s a r e c r i t i c a l t o t h e f u t u r e g r o wt h o f t h i s e me r g i n g g r e e n industry.

ONE OF THE PRIMARY BENEFITS OF DELTA'S MODULAR DC CHARGER DESIGN IS THAT IT REDUCES DOWNTIME WHILE INCREASING AVAILABILITY.

PG 20 PG 27

INSIGHTS ANNUITY HYBRID E-MOBILITY (AHEM) : AN EMERGING EV INFRA FINANCING MODEL

An e x c l u s i v e i n t r o d u c t i o n o f AHE M f r o m t h e a u t h o r , t h e lead technocrat of this new financing tool to fund EHi g h wa y c h a r g i n g i n f r a s t r u c t u r e i n I n d i a .

E l e c t r i c Mo b i l i t y a d o p t i o n i s n e e d - b a s e d ! B u t i t s a d o p t i o n i s p r i ma r i l y b a s e d o n t wo ma i n c a t e g o r i e s o f financing: ‘EV Financing’ and ‘EV Infra financing’. Being t h e f o u r t h l a r g e s t a u t o mo b i l e ma r k e t i n t h e wo r l d h a s n o t c o me e a s y f o r I n d i a . S i mi l a r l y t h e r o a d t o E l e c t r i c Mo b i l i t y a d o p t i o n i n t h e c o u n t r y a l s o h a s f a c e d l o t s o f d i f f i c u l t i e s a n d i s c u r r e n t l y p i l e d u p wi t h p r e s s i n g challenges in both financial categories.

I n d u s t r y s t a k e h o l d e r s a d mi t t h a t I n d i a n E - Mo b i l i t y s e c t o r h a s h u g e p o t e n t i a l t o c a p t u r e s h a r e s o f t h e wo r l d E V ma r k e t . Bu t a l s o i n b u r n i n g n e e d o f E a s e o f Do i n g Bu s i n e s s i n ‘ E V I n f r a f i n a n c i n g ’ . AS S AR’ s E a s e o f Do i n g Bu s i n e s s d i v i s i o n s t e p p e d i n t o t h e E - mo b i l i t y s e c t o r i n 2 0 1 8 t o u n d e r wr i t e i t wi t h t h e Re f o r m, P e r f o r m a n d Tr a n s f o r m ma n t r a o f o u r P r i me Mi n i s t e r Mo d i . Na t i o n a l Hi g h wa y f o r E l e c t r i c Ve h i c l e ( NHE V) i s a n E a s e o f Do i n g Bu s i n e s s p i l o t i n i t i a t i v e t o u p g r a d e r e g u l a r h i g h wa y s i n t o E - Hi g h wa y s . NHE V h a s r e c e n t l y c o mp l e t e d i t s 2 1 0 k m TE CH- T r i a l Ru n o f I n d i a ’ s 1 s t E - Hi g h wa y b e t we e n De l h i a n d Ag r a o n Y a mu n a E x p r e s s wa y i n De c 2 0 2 0 . I t a n s we r e d ma n y I n d u s t r y q u e s t i o n s r e l a t e d t o b u s i n e s s b a r r i e r s i n E - mo b i l i t y , n e e d o f E - Hi g h wa y s , b a n k i n g c h a l l e n g e s , h y b r i d f i n a n c i n g mo d e l , e me r g i n g p r o c u r e me n t t o o l s , c h a r g i n g s t a t i o n c o s t a n d a l l o c a t i o n t o i n v e s t o r s , i t ’ s c h a r g i n g i n f r a Ca p E x b r e a k - e v e n a n d c h a r g e r ’ s a c t u a l u t i l i z a t i o n . An e x c l u s i v e i n t r o d u c t i o n o f AHE M f r o m t h e a u t h o r , t h e l e a d t e c h n o c r a t o f t h i s n e w f i n a n c i n g t o o l t o f u n d E - Hi g h wa y c h a r g i n g i n f r a s t r u c t u r e in India.

EMOBILITY+ | MAY ISSUE 2021

E l e c t r i c Mo b i l i t y a d o p t i o n i s n e e d - b a s e d ! B u t i t s a d o p t i o n i s p r i ma r i l y b a s e d o n t wo ma i n c a t e g o r i e s o f financing: ‘EV Financing’ and ‘EV Infra financing’.

Be i n g t h e f o u r t h l a r g e s t a u t o mo b i l e ma r k e t i n t h e wo r l d h a s n o t c o me e a s y f o r I n d i a . S i mi l a r l y t h e r o a d t o E l e c t r i c Mo b i l i t y a d o p t i o n i n t h e c o u n t r y a l s o h a s f a c e d l o t s o f d i f f i c u l t i e s a n d i s c u r r e n t l y p i l e d u p wi t h pressing challenges in both financial categories.

I n d u s t r y s t a k e h o l d e r s a d mi t t h a t I n d i a n E - Mo b i l i t y sector has huge potential to capture shares of the wo r l d E V ma r k e t . Bu t a l s o i n b u r n i n g n e e d o f E a s e o f Do i n g Bu s i n e s s i n ‘ E V I n f r a f i n a n c i n g ’ . AS S AR ’ s E a s e o f Do i n g Bu s i n e s s d i v i s i o n s t e p p e d i n t o t h e E - mo b i l i t y s e c t o r i n 2 0 1 8 t o u n d e r wr i t e i t wi t h t h e Re f o r m, P e r f o r m a n d Tr a n s f o r m ma n t r a o f o u r P r i me Mi n i s t e r Mo d i . Na t i o n a l Hi g h wa y f o r E l e c t r i c Ve h i c l e ( NHE V ) i s a n E a s e o f Do i n g Bu s i n e s s i n ‘ E V I n f r a f i n a n c i n g ’ . AS S AR’ s E a s e o f Do i n g Bu s i n e s s d i v i s i o n s t e p p e d i n t o t h e E - mo b i l i t y s e c t o r i n 2 0 1 8 t o u n d e r wr i t e i t wi t h t h e Re f o r m, P e r f o r m a n d Tr a n s f o r m ma n t r a o f o u r P r i me Mi n i s t e r Mo d i . Na t i o n a l Hi g h wa y f o r E l e c t r i c Ve h i c l e ( NHE V) i s a n E a s e o f Do i n g Bu s i n e s s p i l o t i n i t i a t i v e t o u p g r a d e r e g u l a r h i g h wa y s i n t o E - Hi g h wa y s . NHE V h a s r e c e n t l y c o mp l e t e d i t s 2 1 0 k m TE CH- Tr i a l Ru n o f I n d i a ’ s 1 s t E Hi g h wa y b e t we e n De l h i a n d Ag r a o n Y a mu n a E x p r e s s wa y i n De c 2 0 2 0 . I t a n s we r e d ma n y i n d u s t r y q u e s t i o n s r e l a t e d t o b u s i n e s s b a r r i e r s i n E - mo b i l i t y , n e e d o f E - Hi g h wa y s , b a n k i n g c h a l l e n g e s , h y b r i d f i n a n c i n g mo d e l , e me r g i n g p r o c u r e me n t t o o l s , charging station cost and allocation to investors, it’s c h a r g i n g i n f r a Ca p E x b r e a k - e v e n a n d c h a r g e r ’ s a c t u a l utilization.

PG 28

I t s k n o wn t h a t E V i s a s i mp l e t e c h n o l o g y i n c o mp a r i s o n t o c o mp l e x I C e n g i n e s , b u t p r o j e c t e d a n d ma r k e t e d a s a c o mp l e x t h i n g t o a d o p t i n d a y t o d a y l i f e ; ma y b e t o a v a i l s u b s i d i e s f r o m g o v t t o c u s h i o n i n i t i a l a s s e mb l y l i n e Ca p E x o f E Vs a s i t l o o k s l i k e g o v t wa s e x c l u s i v e l y responsible for everything related to adoption in early days.

We h a v e b e e n u s i n g ma n y b a t t e r y o p e r a t e d g o l f - c a r t t y p e E Vs i n g r e e n c a mp u s e s . Bu t f o l l o wi n g E u r o p e a n trends, instead of focusing on institutional and captive u s a g e s , u p g r a d a t i o n f i r s t . I n d i a n E V i n d u s t r y ma d e a p r e ma t u r e j u mp t o f r o n t l i n e r e t a i l i n g o f E Vs , wh e r e i t c a me i n d i r e c t c o mp e t i t i o n wi t h Di e s e l / P e t r o l / CNG a n d Hy b r i d v e h i c l e s ; t h a t t o o wi t h o u t s u f f i c i e n t c h a r g i n g i n f r a i n p l a c e . Bu t d i s p a r i t y a r i s i n g o u t o f t h i s wr o n g e q u i v a l e n c e wa s t h r o wn o n t h e g o v e r n me n t a s b u s i n e s s barriers and difficulties to grow in this sector. The a u t h o r r e f e r r e d t o i t a s a r e a s o n wh y t h e E a s e o f Do i n g Bu s i n e s s t e a m a f f i a n c e d t o d o t h i s p i l o t .

Financing EV charging infra or projects in such volatile s i t u a t i o n s i s o b v i o u s l y n e g a t i v e f o r NBF Cs a n d B a n k s ; u n t i l t h e r e a r e n u mb e r s a n d wi t h o u t n u mb e r s i n v e s t i n g i n c h a r g i n g i n f r a wa s a n o t h e r l o s s ma k i n g b u s i n e s s t h r o wn o n g o v t a s a ma n k i n d r e s p o n s i b i l i t y .

Un k n o wi n g l y , we c r e a t e d t h i s d e a d l o c k a n d wi t h o u t b o l d r e f o r ms i t s e e me d i mp o s s i b l e t o b r e a k i t o r b r i n g E a s e o f Do i n g Bu s i n e s s . I n o u r e a r l y s h o u t - o u t d u r i n g 2 0 1 8 Go v t o f I n d i a , Mi n i s t r y o f P o we r c l a r i f i e d t h a t t h e r e i s n o s u c h l i c e n s e n e e d e d f o r s e t t i n g u p t o mo r r o w’ s F u e l P u mp s me a n s E V Ch a r g i n g S t a t i o n s . I t wa s a b i g b o l d r e f o r m f r o m t h e Go v t . Bu t d o p e o p l e e v e n k n o w a b o u t i t ? No !

It’s not because people aren’t interested. It’s because there is no foot-print and system to process, validate, f u n d a n d s u p p o r t ; i f a c t u a l l y p e o p l e , c o mp a n i e s , institutions start filing applications for setting up EV i n f r a o r Ch a r g i n g S t a t i o n s . I t f l a r e d u p t h e n e e d o f a n e w E V I n f r a f i n a n c i n g mo d e l a n d a n i mme d i a t e n e e d t o p i l o t i t t o p r o v e i t s c a p a b i l i t y a n d c o mp e t e n c e . An n u i t y Hy b r i d E - Mo b i l i t y ( AHE M) d i d n o t o n l y c o me a s a n e x c e p t i o n i n t h e r o w o f f i n a n c i n g t o o l s . Bu t I t i s a l s o t h e 2 n d p r o v e n mo d e l a f t e r Hy b r i d An n u i t y Mo d e l ( HAM) wi t h r o b u s t u t i l i z a t i o n d y n a mi c s a n d f u n d i n g o p t i o n s .

F o r e x a mp l e - “ Hy b r i d An n u i t y Mo d e l ( HAM) t o a wa r d r o a d p r o j e c t s h a s e n c o u r a g e d i n v e s t me n t s i n t h e s e c t o r - s a y s Mo o d y ' ' wa s n o t o n l y a n e ws h e a d l i n e . B u t s u c h Mo d e l s l i k e Hy b r i d An n u i t y Mo d e l ( HAM) h a v e a l s o c h a n g e d t h e s p e e d o f ma k i n g r o a d s a n d h i g h wa y s i n I n d i a b e y o n d 4 f o l d . P r e c i s e l y t h i s mi r a c l e i n k i l o me t e r s , we u s e d t o ma k e 9 - 1 0 k m r o a d s p e r d a y a n d wi t h i n n o v a t i v e mo d e l s l i k e HAM; t o d a y we a r e ma k i n g 3 8 - 4 0 K m r o a d s p e r d a y . An n u i t y Hy b r i d E - Mo b i l i t y ( AHE M) i s h i g h l y i n s p i r e d f r o m Hy b r i d An n u i t y Mo d e l ( HAM) a n d mi r a c u l o u s l y d e l i v e r s 4 k e y c h a l l e n g e s o f E - mo b i l i t y a d o p t i o n a n d c o mme r c i a l i z a t i o n .

EMOBILITY+ | MAY ISSUE 2021

WE HAVE BEEN USING MANY BATTERY OPERATED GOLFCART TYPE EVS IN GREEN CAMPUSES" 1. Ma x 3 0 mi n ut e s f o r a u t o ma t e d b a c k u p t o r e a c h b r e a k d o wn E Vs o n t h i s e - h i g h wa y 2. 3 0 % l e s s e r u p f r o n t p r i c e o f E l e c t r i c Ve h i c l e wi t h Ba t t e r y S u b s c r i p t i o n & RS A s e r v i c e s 3. 3 0 % Ca p E x Ut i l i z a t i o n o f Ch a r g e r a n d Ch a r g i n g Infrastructure at stations 4. 3 y e a r s b r e a k e v e n p e r i o d f o r c o s t s p e n t o n S t a t i o n

by Investors AHE M i s b e s t s u i t e d f o r I n d i a n E - mo b i l i t y ma r k e t e c o n o mi c s . Be c a u s e I n d i a i s I n d i a n o t Ch i n a , E u r o p e , Ame r i c a o r Af r i c a ! I t h a s i t s o wn u n i q u e ‘ E c o n o mi c ’ s t r u c t u r e ; wh e r e P CO ( p h o n e b o o t h s ) h a v e b e e n a r u r a l b u s i n e s s a n d g e t t i n g a ‘ P e t r o l P u mp ’ l i c e n s e i s a n i n c o me g u a r a n t e e f o r t h e n e x t g e n e r a t i o n . B u t t h e g o v e r n me n t h a s a l r e a d y c l a r i f i e d t h a t n o l i c e n s e n e e d e d f o r s e t t i n g u p t o mo r r o w’ s F u e l P u mp s me a n s E V Ch a r g i n g S t a t i o n s . Th e r e a s o n wh y p e o p l e a r e n ’ t expressing interest in setting up is- “the utilization of s a me Ch a r g i n g s t a t i o n s p a c e a n d e l e c t r i c a l E V S E i n v e s t me n t s i n s o me o t h e r b u s i n e s s o r a c t i v i t y t u r n s t o b e f a r mo r e p r o f i t a b l e c o mp a r e d t o a s e t t i n g u p a c h a r g i n g s t a t i o n wi t h 2 % t o 3 % u t i l i z a t i o n r e s u l t s a n d i n i t i a l l y n e g a t i v e ROI wi t h a b r e a k e v e n t h r o wn b e y o n d 30 years.

Th i s n e w f i n a n c i n g mo d e l mi n i mi z e s d e p en d e n c y o n govt for subsidy and funding both by converting e x i s t i n g t r a f f i c b e t we e n t wo c i t i e s wi t h ‘ Ch a r g i n g S t a t i o n s ’ o n c o n n e c t i n g h i g h wa y s . Th o s e s t a t i o n s e q u i p p e d wi t h Ro a d S i d e As s i s t a n c e ( RS A) c o mp e t e n c e t o r e a c h a n y E V i n 3 0 k m r a d i u s . T h e y me r e l y s e e k l a n d a n d e l e c t r i c c o n n e c t i o n f r o m s t a t e govt to set-up these stations to induct 3% EVs on route t o a c h i e v e E V Ch a r g i n g i n f r a Ca p E x b r e a k e v e n i n 3 6 mo n t h s f o r t h e i r P u b l i c & P r i v a t e i n v e s t o r s a n d s t a t i o n lease holders.

ABHIJEET SINHA NATIONAL PROGRAM DIRECTOR EODB & NATIONAL HIGHWAYS FOR EV

PG 29

INSIGHTS HAVE EV'S BEEN EXISTENT FOR CENTURIES? WHAT IS THRIVING THEM?

RAJEEV YSR VICE PRESIDENT, ETO MOTORS

Introduction Electric vehicle Business has always been an attractive investment destination for decades together and the excitement and enthusiasm towards this industry is not new.

To understand the same, we need to get a few centuries ago towards the beginning of automobiles. In the late 18th Century, inventors discovered a way of converting the linear (Piston) motion into rotational (Wheel) Motion.

The First automobile in fact was developed by Captain Nocholas Joseph Cugnot - A French Military engineer where he used the same technique but powered with a steam engine.

But owing to the practical limitations of heavy steam engines and frequent requirement of water - steam as an energy source lost its sheen especially in personal mobility.

The other strong propulsion technologies emerging at that time were Gasoline and Electricity. Though gasoline powered internal combustion engines were taking care of the range, the need to crank the engine by human power and the enormous force required to change the gears while driving made the vehicles harder to operate.

EMOBILITY+ | MAY ISSUE 2021

The electric engine, on the other hand, did not face any of the above mentioned struggles and thus held a significant advantage in terms of ease of operation and hence became popular in the beginning of 20th century especially among women and became perfect for short distance town traffic with an additional advantage of zero tailpipe emissions.

This actually resulted in EVs commanding 28% market share in the US. The innovators of the time obviously took notice of this and in the year 1891, Ferdinand Prosche introduced his car model P1. This was the company’s first ever car and was electrically driven. In 1914, Thomas Edison and Henry Ford met up to cooperate on the development of a low-cost electric vehicle for wide masses but unfortunately that didn't work out.

With the advent of electric starter, a growing network of gas stations while electricity was still not accessible in most rural areas and Henry Ford’s Model T with a price tag of 650 USD; the EVs were ultimately beaten by the combustion engine cars and disappeared for a long time from the market.

Though BMW in the 1970s built an EV during the olympic games in Munich in 1972, the car really didn't garner much attention.

With the increasing oil prices, pollution levels and the strong cartel by the OPEC nations is once again pushing the whole world to consider electricity as the technology of propulsion for vehicles.

PG 30

Perennial Reasons Th u s t h e i n t e r e s t o r e x c i t e me n t a r o u n d e l e c t r i c v e h i c l e s is nothing new but the current context and strong r e a s o n s wh i c h a r e p r o p e l l i n g t h a t i n t e r e s t t o r e k i n d l e ma k e s e l e c t r i c v e h i c l e s d e f i n i t e l y a n a t t r a c t i v e i n v e s t me n t d e s t i n a t i o n .

No w, e n o u g h o f t h e h i s t o r y a n d l e t s u n d e r s t a n d wh a t ma k e s i t a n a t t r a c t i v e i n v e s t me n t d e s t i n a t i o n o t h e r t h a n f o r t h e r e a s o n s men t i o n e d a b o v e .

1. Gl o ba l Wa r mi n g: Th o u g h we mi g h t b e h e a r i n g t h i s wo r d q u i t e o f t e n , b u t i t i s i n t e r e s t i n g a n d s c a r y t o o b s e r v e t h a t Gl o b a l s e a l e v e l s h a v e r i s e n a b o u t 8 i n c h e s s i n c e 1 8 7 0 a n d i f g r e e n h o u s e g a s e mi s s i o n s r e ma i n u n c h e c k e d , g l o b a l s e a l e v e l s c o u l d r i s e b y a s mu c h a s 3 f e e t ( 0 . 9 me t e r s ) b y 2 1 0 0 wh i c h me a n s ma n y c o a s t a l a r e a s , wh e r e r o u g h l y h a l f o f t h e E a r t h ' s h u ma n p o p u l a t i o n l i v e s , wi l l b e i n u n d a t e d .

2. Ch a n gi n g I r r e v e r s i b l e P a t t e r n s : I n c r e a s e d d e a t h s

a n d h e a l t h a l i g n me n t s d u e t o a i r p o l l u t i o n , c h a n g i n g p a t t e r n s o f p l a n t s , mi g r a n t a n i ma l s , h i g h e s t t e mp e r a t u r e r e c o r d e d b e i n g b r o k e n e v e r y y e a r ma k e s t h i s n o l o n g e r a r e g i o n a l p h e n o me n a b u t a wo r l d t h r e a t .

3. Bi r t h o f S t r o n g P o l i c i e s : Ap a r t f r o m t h e Cl i ma t e

Ac t i o n P l a n 2 0 1 3 , t h e p a r i s a g r e e me n t wa s a d o p t e d b y 1 9 6 c o u n t r i e s wh i c h me a n s t h e wo r l d i s b a t t l i n g t h e c l i ma t e c h a n g e mu c h f i e r c e r t h a n wi t h t e r r o r i s m.

Market response Th e ma r k e t wa s r e s p o n d i n g v e r y a p t l y t o t h e s e n e w d e ma n d s . Th e g l o b a l e l e c t r i c v e h i c l e ma r k e t wa s v a l u e d at $162.34 billion in 2019, and is projected to reach $ 8 0 2 . 8 1 b i l l i o n b y 2 0 2 7 , r e g i s t e r i n g a CAGR o f 2 2 . 6 %; Wi t h As i a - P a c i f i c b e i n g t h e l e a d c o n t r i b u t o r a c c o u n t i n g f o r $ 8 4 . 8 4 b i l l i o n i n 2 0 1 9 , a n d i s e s t i ma t e d t o r e a c h $ 3 5 7 . 8 1 b i l l i o n b y 2 0 2 7 , wi t h a CAGR o f 2 0 . 1 %.

The numbers strongly shout out that the market is responding in the right direction or rather in the directions set by strong policies.

Many Auto and non auto companies have committed to reduce their carbon gas emissions with strong grit and resolution.

OEM & Corporate’s Response Many not for profit organizations such as TCG, WBCSD are mobilizing and educating the corporations t o r e d u c e t h e i r c a r b o n e m i s s i on s t h r o u g h c a m p a i g n s such as EV100, RE 100, Etc. Apart from this, world's leading e-commerce players such as Amazon and Flipkart have already declared their plans to migrate to EVs very shortly.

Many automobile giants such as GM. Jaguar, Volvo and few others have already declared their intention to make only electric vehicles by 2030,

Rare Deadly Combo Thus the Electric Mobility Revolution becomes one such rare deadly combo where influential stakeholders come on to the same platform : Auto OEMs, Governments across the Globe, Not for Profit O r g a n i z a t i on s , M a j o r C o r p o r a t e s & L a s t l y t h e p e o p l e you and me.

While the whole ecosystem is clearly seen walking towards the electric mobility revolution, there is a huge scope for improvement in terms of technology, products, innovation and their application.

This phenomena of market and demand being ready but an immense need for technological progress and innovation attracts the investors automatically making EV business an attractive business investment for everyone.

These investors and investments fill these gaps and in the process make their fortune.

S a l e o f e l e c t r i c c a r s t o p p e d 2 . 1 mi l l i o n g l o b a l l y i n 2 0 1 9 surpassing 2018 - already a record year - to boost the s t o c k t o 7 . 2 mi l l i o n e l e c t r i c c a r s . E l e c t r i c c a s wh i c h a c c o u n t e d f o r 2 . 6 % o f g l o b a l c a r s a l e s a n d about 1% of global car stock in 2019, registered a 40% year on year increase.

EMOBILITY+ | MAY ISSUE 2021

PG 31

INSIGHTS

Spurring India’s E-mobility Aspirations

ENCOURAGING COMMERCIAL UPTAKE OF ELECTRIC 2-WHEELERS India’s dependence on crude oil has been on the rise with increased imports of 82.9% and 83.8% in FY18 and FY19 respectively.

In India, two-wheelers (2Ws) account for 70% of the 200 million-plus registered vehicles and 2Ws alone are responsible for 61.42% of total petrol consumption. Along with this rise in oil consumption, fuel price volatility leads to fluctuations in the operational costs of petrol-2Ws. Incidentally, 2Ws contribute to about 20% of the total CO2 emissions and 30% of the particulate emissions in urban India. An outcome of the pandemic induced human mobility restrictions was the significant reductions in PM 2.5 levels, which led to a drastic improvement in air quality and a reduction in the number of premature deaths. Needless to say, the negative environmental and health impacts of tailpipe emissions, from fossil fuel, are necessitating a rapid shift towards the development and adoption of Electric Vehicles (EVs).

In India, e2W sales account for the highest share in overall EV sales of which 90% were low-speed electric scooters (~25kmph).

Users can now choose from a range of low-cost to high-end models across varying speed ranges. However, there are still significant barriers to uptake which include long charging times, lack of charging infrastructure, and adequate financing mechanisms.

Economic Viability of e2Ws in Commercial Applications E Vs a r e g r a d u a l l y g a i n i n g t r a c t i o n n o t j u s t b e c a u s e o f b e n e f i t s s u c h a s l o w ma i n t e n a n c e a n d z e r o e mi s s i o n s ; b u t a l s o i n t e r ms o f e c o n o mi c op p o rt u n i t y a s r e a l i z e d a n d h i g h l i g h t e d i n t h e WRI I n d i a ` s TCO a n a l y s i s . T h i s c a n b e a t t r i b u t e d t o t h e i n c r ea s e i n t h e u s e o f e - 2 Ws f o r h y p e r l o c a l d e l i v e r y a n d l a s t - mi l e c o n n e c t i v i t y i n u r b a n areas.

Th e WRI I n d i a TCO a n a l y s i s s u g g e s t s t h a t e - 2 Ws a r e mo r e f a v o r e d i n t h e c o mme r c i a l s p a c e g i v e n t h e i r e c o n o mi c b e n e f i t s . Wi t h s h a r e d mo b i l i t y o n t h e r i s e a n d o p t i o n s l i k e a r e n t a l o r s u b s c r i p t i o n - b a s e d mo d e l , u r b a n c e n t e r s a r e e x p l o r i n g t h e ‘ ma r k e t e c o n o my a n d wi l l i n g t o e x p e r i me n t — o p e n i n g u p d o o r s f o r t h e adoption of e-2W in the goods delivery space.

As s e e n i n F i g u r e 1 ( a ) , t h e To t a l Co s t o f Own e r s h i p ( TCO) p e r k m o f a h i g h - c o s t e - 2 W b e c o me s l e s s t h a n the petrol-2W for an average daily travel distance of mo r e t h a n 5 0 k m wh e r e t h e TCO/ k m o f a l o w- c o s t e - 2 W i s c h e a p e r t h a n a p e t r o l - 2 W e v e n a t 2 5 k m p e r d a y . Wi t h F AME - I I s u b s i d y , t h e b r e a k - e v e n d i s t a n c e f o r t h e h i g h cost e-2W transitions to less than 50 km per day usage (see Figure 1(b)).

Wi t h t h e i n c r e a s e i n t h e v e h i c l e h o l d i n g p e r i o d , t h e e c o n o mi c v i a b i l i t y o f t h e e - 2 W v a r i a n t s i n c r e a s e s c o mp a r e d t o p e t r o l - 2 W. As we s e e i n f i g u r e 2 ( a ) ; f o r a n a v e r a g e d i s t a n c e o f 7 5 k m, t h e TCO/ k m o f t h e h i g h - c o s t e - 2 W b e c o me s l e s s t h a n t h a t o f a p e t r o l - 2 W a t t h e 4 t h y e a r o f t h e h o l d i n g p e r i o d , wh e r e a s t h e TCO/ k m o f a l o w- c o s t e - 2 W i s c h e a p e r t h a n i t s p e t r o l - 2 W c o u n t e r p a r t f r o m y e a r 1 i t s e l f . Wi t h F AME - I I s u b s i d y , t h e b r e a k - e v e n year of the high-cost e-2W shifts to the 2nd year as s h o wn i n F i g u r e 2 ( b ) .

EMOBILITY+ | MAY ISSUE 2021

Figure 1: Comparison of TCO per km of petrol-2Ws with lithiumbattery powered e-2Ws ((a) without and (b) with FAME-II subsidy) at different average daily travel distances.

PG 32

Strategic partnerships can help in addressing the i s s u e s o f h i g h - c o s t , d e v e l o p me n t o f s u s t a i n a b l e b u s i n e s s mo d e l s , a n d f l e x i b l e f i n a n c i n g o p t i o n s , e s p e c i a l l y i n t h e u s e c a s e s o f l a s t - mi l e c o n n e c t i v i t y a n d d e l i v e r y o f g o o d s . Wh i l e s o me p a r t n e r s h i p s e x p l o r e f i n a n c i n g s u s t a i n a b i l i t y , s u c h a s a t i e - u p b e t we e n c K e r s F i n a n c e a n d OTO Ca p i t a l p r o mo t i n g e - 2 W l e a s i n g ; o t h e r e - mo b i l i t y p l a y e r s l i k e Z y p p , e Bi k e Go , o r Y u l u t i e u p wi t h f o o d a n d g r o c e r i e s g i a n t s t h r o u g h s u b s c r i p t i o n - b a s e d r e n t a l mo d e l s a t a f i x e d p e r k m r a t e .

Ba t t e r y S wa p p i n g f o r E f f i c i e n c y : Hy p e r l o c a l d e l i v e r y i s a s s o c i a t e d wi t h f a s t e r a n d f r e q u e n t d e l i v e r y me c h a n i s ms . F o r b u s i n e s s e s t o b e c o s t - e f f e c t i v e , h i g h o p e r a t i o n a l e f f i c i e n c y i s r e q u i r e d . Th i s c a l l s f o r a f a s t , efficient, and reliable charging infrastructure set-up.

Figure 2: Year-wise TCO per km of petrol-2W and e-2W (without (a) and (b) with FAME-II subsidy) for the daily average travel distance of 75 km.

Th e WRI I n d i a TCO a n a l y s i s s u g g e s t s t h a t e - 2 Ws a r e mo r e f a v o r e d i n t h e c o mme r c i a l s p a c e g i v e n t h e i r e c o n o mi c b e n e f i t s . Wi t h s h a r e d mo b i l i t y o n t h e r i s e a n d o p t i o n s l i k e a r e n t a l o r s u b s c r i p t i o n - b a s e d mo d e l , u r b a n c e n t e r s a r e e x p l o r i n g t h e ‘ ma r k e t e c o n o my a n d wi l l i n g t o e x p e r i me n t — o p e n i n g u p d o o r s f o r t h e a d o p t i o n o f e-2W in the goods delivery space.

Key Enablers for Commercial Applications S u ppo r t i v e P o l i c i e s : Th e r e h a s b e e n a r a n g e o f g o v e r n me n t i n i t i a t i v e s t o b o o s t E V s a l e s , r a n g i n g f r o m t h e a n n o u n c e me n t o f t h e ‘ Na t i o n a l E l e c t r i c Mo b i l i t y Mi s s i o n P l a n ’ ( NE MMP ) t o F AME s c h e me s f o r f i n a n c i a l i n c e n t i v e s . De s p i t e t h e s e i n i t i a t i v es , t h e a d o p t i o n o f E V i n t h e c o mme r c i a l f r e i g h t s e g me n t i s very low due to operational issues such as range anxiety, high upfront cost, apprehension regarding new technology, lack of charging infrastructure, and lengthy c h a r g i n g t i me . To a c c e l e r a t e t h e a d o p t i o n o f e - 2 Ws , t h e issue of high upfront cost has been addressed by r e d u c i n g GS T r a t e s t o 5 % a n d t h e s a l e o f e - 2 W wi t h o u t b a t t e r i e s i s b e i n g i n t r o d u c e d , wh i c h c a n r e d u c e t h e purchase cost by 40% Ne w Bu s i n e s s a n d F i n a n c i n g Mo d e l s : E V f i n a n c i n g i s p r o j e c t e d t o b e wo r t h Rs . 3 . 7 l a k h c r o r e i n 2 0 3 0 wh i c h i s about 80% of India’s retail vehicle finance industry as of today.

|| DECEMBER ISSUE 2020 MARCH EMOBILITY+ | MAYISSUE ISSUE2021 2021 EMOBILITY+

Th e ma j o r i t y o f e - 2 Ws a r e f i t t e d wi t h d e t a c h a b l e batteries that provide flexibility in plugged-in charging.

Ba t t e r y s wa p p i n g o p t i o n s c a n e n s u r e h i g h o p e r a t i o n a l efficiency and can help in addressing the issue of long c h a r g i n g t i me a n d r a n g e a n x i e t y .

Way Forward Cu r r e n t l y , t h e s h a r e o f E Vs i n t h e I n d i a n a u t o mo b i l e s e c t o r i s l e s s t h a n 1 %. S c a l i n g t h i s u p wi l l r e q u i r e enabling policy interventions, innovative business mo d e l s , a n d h u g e c a p i t a l i n v e s t me n t s . To r e d u c e o p e r a t i o n a l b a r r i e r s a n d i mp r o v e u p t a k e , r e d u c t i o n o f GS T o n b a t t e r i e s f r o m 1 8 % t o 5 % ( a s i n t h e c a s e o f E V s a l e s ) wo u l d o p e n u p t h e p o s s i b i l i t y o f b a t t e r y l e a s i n g a n d b a t t e r y s wa p p i n g . Ba t t e r y s wa p p i n g b e i n g q u i c k and hassle-free enhances operational efficiency.

Ac k n o wl e d g i n g t h e s e f i x e s wh i l e a l s o e x p l o r i n g f i n a n c i n g s o l u t i o n s , wi t h f l e x i b l e l o a n r e p a y me n t , c a r v e s a wa y t o b e t t e r a c c e s s a n d u p t a k e o f e - 2 Ws .

DR. PARVEEN KUMAR SENIOR MANAGER, WRI INDIA

LEONA NUNES RESEARCH ANALYST, SUSTAINABLE CITIES, WRI INDIA

MADHAV PAI EXECUTIVE DIRECTOR, SUSTAINABLE CITIES, WRI INDIA

PG 20 PG 33

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