E-Mobility+ Apr-May Issue 2023

BUSINESS NEWS ROUNDUP>

Here are some recent business news updates from India's EV ecosystem in 2022-2023:

Ola Electric: Indian ride-hailing firm Ola's electric vehicle (EV) arm, Ola Electric, raised $500 million in a funding round led by Temasek and an affiliate of Warburg Pincus, among others The company plans to use the funds to expand its EV manufacturing facilities and develop new technologies

Tata Motors: Indian automaker Tata Motors announced plans to invest $2 billion in EVs over the next five years The company aims to have 10 EV models in its portfolio by 2025 and become a leading player in the Indian EV market

Mahindra & Mahindra: Indian automaker Mahindra & Mahindra announced plans to invest $2 5 billion in EVs over the next five years The company aims to have 10 EV models in its portfolio by 2025 and launch its first electric SUV in 2024.

Hero Electric: Indian electric scooter maker Hero Electric announced plans to invest $200 million in a new manufacturing facility in the southern state of Tamil Nadu The company aims to have an annual production capacity of 1 million electric scooters by 2025.

Zypp Electric: Indian electric two-wheeler rental company Zypp Electric raised $30 million in a funding round led by FMO, a Dutch development bank The company plans to use the funds to expand its fleet and reach more cities in India

DEBRIEF - POLICY & REGULATORY

India's vehicle scrapping policy

India's vehicle scrapping policy, also known as the Voluntary VehicleFleet Modernization Programme (V-VMP) was launched in March 2021. The policy aims to phase out old and unfit vehicles and promote the use of new, fuel-efficient, and less-polluting vehicles in the country India's Vehicle Scrappage Policy took effect in April 2022

Under the policy, vehicle owners will be provided with incentives to voluntarily scrap their old vehicles and replace them with new ones The incentives will include a scrap value for the old vehicle, a discount on the purchase of a new vehicle, and a waiver of the road tax and registration fees for the new vehicle

The policy is expected to have a positive impact on the environment by reducing vehicular emissions and promoting the use of electric and other alternative fuel vehicles It is also expected to boost the automotive industry by increasing demand for new vehicles

The policy targets vehicles that are over 15 years old for private vehicles and over 10 years old for commercial vehicles The policy aims to phase out 28 million vehicles that are over 15 years old by 2025, which is expected to reduce vehicular emissions by up to 10%

Revolt Motors: Indian electric motorcycle maker Revolt Motors launched two new models, the RV1 and RV2, which offer longer ranges and faster charging times than previous models The company also announced plans to expand its dealership network across India

Okinawa Autotech: Indian electric two-wheeler maker Okinawa Autotech announced plans to invest $150 million in a new manufacturing facility in the western state of Gujarat The company aims to have an annual production capacity of 500,000 electric scooters by 2025

Zyngo Mobility raises USD 5m in Pre-Series A funding Led by Delta Corp The fund will be used for increasing fleet size, expanding to new areas Zyngo EV Mobility Pvt Ltd, a Gurugram-based techenabled third-party logistics service provider raises USD 5 m in PreSeries A funding led by Delta Corp Holdings with participation from existing investors LC Nueva

TI Clean Mobility, a subsidiary of Tube Investments of India Ltd, has signed definitive agreements to raise further capital of Rs. 675Cr through compulsory covertible preference shares TI Clean Mobility Pvt Ltd is engaged in manufacturing and marketing of electric three wheelers and through its subsidiaries into electric tractors and electric heavy commercial vehicles

To implement the policy, the government has proposed setting up authorized scrapping centers across the country where old vehicles will be scrapped in an environmentally friendly manner The policy also includes measures to ensure that new vehicles are more environmentally friendly, including fuel efficiency and emission standards

The scrappage policy is expected to contribute to India's net-zero goal in several ways First, by encouraging people to replace their old and polluting vehicles with new ones, the policy would reduce emissions from the transportation sector, which is a major contributor to India's greenhouse gas emissions Second, by promoting the use of electric vehicles and alternative fuels, the policy would help reduce India's dependence on fossil fuels thereby reducing emissions and contributing to the net-zero goal

Furthermore, the policy's focus on recycling and reusing materials from scrapped vehicles would contribute to the circular economy, reducing the need for virgin materials and minimizing waste This would help conserve natural resources and reduce the environmental impact of manufacturing processes

Overall, the vehicle scrappage policy is an important step towards achieving India's net-zero goal by reducing emissions, promoting the use of cleaner technologies, and contributing to the circular economy.

India'sRoadmapToDecarbonize TransportationAndFreightSector InTuneWith

NET-ZERO GOAL BY 2070

As per the updated Nationally Determined Contribution (NDC), India now stands committed to reduce Emissions Intensity of its GDP by 45 percent by 2030, from 2005 level and achieve about 50 percent cumulative electric power installed capacity from non-fossil fuelbased energy resources by 2030 India's net-zero goal for the transportation sector is an important component of its overall goal to achieve net-zero greenhouse gas emissions by 2070. The transportation sector is one of the largest sources of greenhouse gas emissions in India, accounting for around 23% of the country's total emissions The emission intensity from India's transport sector is relatively high, accounting for approximately 14% of the country's total greenhouse gas emissions. The majority of these emissions come from the use of fossil fuels in the transportation sector, particularly in the road transport sector The sector includes emissions from passenger cars, two-wheelers, buses, trucks, and other vehicles

To achieve net-zero emissions in the transportation sector India will need to implement a range of policies and measures, including:

Promoting electric vehicles: India has set a target of achieving 30% electric vehicle adoption by 2030 This will require significant investments in charging infrastructure, as well as incentives for consumers to switch to electric vehicles

Increasing the use of biofuels: India has set a target of achieving 20% ethanol blending in petrol and 5% biodiesel blending in diesel by 2030 This will require investments in biofuel production capacity, as well as policies to promote the use of biofuels

Encouraging public transportation: India is promoting the use of public transportation, including buses, trains, and metro systems, to reduce the number of individual vehicles on the road

Implementing fuel efficiency standards: India has implemented fuel efficiency standards for cars and is currently in the process of developing standards for heavy-duty vehicles

Promoting non-motorized transport: India is promoting the use of non-motorized transport, such as cycling and walking, to reduce the number of vehicles on the road

According to India's Nationally Determined Contribution (NDC) submitted to the United Nations Framework Convention on Climate Change (UNFCCC), the emission intensity from the rail freight sector in India is around 0 3 kgCO2/tonne-km This is relatively lower compared to other modes of transportation, such as road freight, which has an emission intensity of around 1 5 kgCO2/tonne-km India has set a target to increase the share of rail freight in the country's overall freight transportation mix from the current 31% to 45% by 2030 India has not specifically announced a net-zero goal for rail freight, but the country is taking several measures to reduce greenhouse gas emissions in the sector and move towards a lowcarbon future Rail freight is an important part of India's transportation system, accounting for a significant share of the country's cargo movement

To reduce emissions in the rail freight sector, the Indian Railways has undertaken a number of initiatives These include:

Electrification of rail network: The Indian Railways has set a target to electrify the entire rail network by 2023, which will significantly reduce emissions from diesel-powered locomotives

Use of renewable energy: The Indian Railways is also exploring the use of renewable energy, such as solar and wind power, to power rail operations. It has set a target of generating 20 GW of solar energy by 2030

Energy efficiency measures: The Indian Railways is implementing a range of energy efficiency measures, such as the use of LED lighting, regenerative braking, and the installation of energy-efficient motors

Shift to cleaner fuels: The Indian Railways is also exploring the use of cleaner fuels, such as liquefied natural gas (LNG), in locomotives

The emission intensity from India's air freight sector is relatively high compared to other modes of transportation due to the energy-intensive nature of aviation According to India's Nationally Determined Contribution (NDC) submitted to the United Nations Framework Convention on Climate Change (UNFCCC), the emission intensity of air freight in India is around 0 35 kgCO2/tonne-km India has not announced a specific net-zero goal for the air freight sector, but the country is taking steps to reduce greenhouse gas emissions from aviation and move towards a low-carbon future To reduce emissions in the air freight sector, India is focusing on several areas, including:

Adoption of sustainable aviation fuels: India is promoting the use of sustainable aviation fuels (SAFs) as a cleaner alternative to traditional fossil fuels The country has set a target of blending 10% SAF with conventional jet fuel by 2030

Energy efficiency measures: India is implementing a range of energy efficiency measures, such as the use of fuel-efficient engines, improved aerodynamics, and the installation of energyefficient equipment

Research and development: India is investing in research and development to develop new technologies and solutions to reduce emissions from the aviation sector

Carbon offsetting: India is also exploring the use of carbon offsetting to reduce emissions from the aviation sector Carbon offsetting allows airlines to offset their emissions by investing in projects that reduce or remove greenhouse gas emissions elsewhere

According to India's Nationally Determined Contribution (NDC) submitted to the United Nations Framework Convention on Climate Change (UNFCCC), the emission intensity of shipping industry in India is estimated to be around 0.41 kgCO2/tonne-km. This is higher compared to other modes of transportation like rail and road, but lower compared to air transport India has not announced a specific net-zero goal for the shipping sector, but the country is taking steps to reduce greenhouse gas emissions from shipping and move towards a low-carbon future.

To reduce emissions in the shipping sector India is focusing on several areas, including:

Adoption of cleaner fuels: India is promoting the use of liquefied natural gas (LNG) as a cleaner alternative to traditional fossil fuels such as heavy fuel oil. The country is also exploring the use of biofuels and hydrogen as potential low-carbon alternatives

Energy efficiency measures: India is implementing a range of energy efficiency measures, such as the use of fuel-efficient engines, improved hull designs, and the installation of energy-efficient equipment.

Port electrification: India is also focusing on the electrification of ports to reduce emissions from ships while in port This includes the use of shore power and onshore power generation from renewable sources Research and development: India is investing in research and development to develop new technologies and solutions to reduce emissions from the shipping sector

COMSOL Multiphysics Revolutionizing Engineering and Research with Advanced Modeling and Simulation Capabilities

ED FONTES

CTO COMSOL

CONVERSATION HIGHLIGHTS

Coupling innovation with efficiency, COMSOL Multiphysics® empowers engineers and scientists to unlock the full potential of their designs, enabling them to develop more for the money in less time

COMSOL Multiphysics®: Empowering Engineers to Shape the Future through Advanced Modeling and Simulation

Revolutionizing Engineering Insights: Unleashing the Potential of COMSOL Multiphysics® for Innovation and Optimization

Tell us about the COMSOL product suite and its application.

COMSOL Multiphysics® is a modeling and simulation (M&S) software platform used in all fields of engineering manufacturing and scientific research The software provides fully coupled multiphysics and single-physics modeling capabilities as well as built-in tools for managing model data and building simulation applications The intuitive user experience of the platform product extends to a suite of addon products that includes modules with functionality specialized for the modeling of certain applications and physics areas as well as products for integrating the COMSOL® software with CAD software

In the field of e-mobility, our customers are mostly found in the R&D departments of large corporations and at government and university research labs Some common applications of our software include the M&S of batteries, fuel cells, electric motors, and generators The models involved usually couple several physics phenomena such as those involved in electrochemistry, electromagnetic fields, heat transfer, and structural mechanics in so-called multiphysics models

Our software enables innovation in the development of batteries and drivetrains for electric vehicles by helping engineers and scientists to understand, predict, and optimize the behavior of the components and processes involved Using our software in the development process is extremely time and cost efficient compared to a purely empirical development process; with COMSOL Multiphysics®, R&D teams can develop more for the money in less time

One concrete and simple example of this efficiency is the use of M&S in the design process for the foils that conduct current into and out of a battery (For more details, see our blog post "Improving Tabbing Design in Cylindrical Batteries" ) Before building a prototype, an R&D team can use M&S of the battery design to estimate the possible improvements in performance and answer the question, "Is it worth it or not to pursue this design idea?" It is quicker and substantially more cost effective to test new ideas using M&S than to build a prototype

How do you see EV technology trends evolving in the industry this year?

While our focus is on the possibilities of using simulation software, in looking at the literature regarding EV technology, there are some trends reflected in M&S.

One of the biggest problems in automotive applications is that we want batteries to recharge very fast, preferably in a matter of minutes, like fueling a gasoline car. We also want to be able to drive for hours on this charge However, the recharge current is orders of magnitude greater than the typical discharge current, which is problematic Many of the electrical systems in the drivetrain have to be designed for coping with currents that are orders of magnitude different between discharge and recharge These systems involve the battery, inverters, DC links (capacitors), current collectors, feeders, cooling and heating systems, etc

This current disproportion is still an unsolved problem, and is therefore the focus of many R&D projects We think that the trend for systems adapted for shorter recharge will continue New battery types and new designs are evolving and will likely continue to evolve in the near future

How will COMSOL be contributing to the higher technology revolution in the coming future?

The development in the field is very rapid, with huge investments being made We have to match this pace

Many of the engineers that are thrown into the field are not yet experts in modeling batteries, generators, motors, electrical components, etc We need to constantly improve our software's user interfaces to make it easy for these new engineers to benefit from multiphysics M&S We must implement the latest models, incorporate the latest material properties of new materials being developed, and make sure that they are available in easy-to-use interfaces

In addition, we have to continue to make it possible for M&S experts to build simulation applications based on multiphysics models and then share them with project stakeholders who are not M&S experts The use of dedicated simulation applications built in house in our customers’ R&D departments allows them to gain even greater benefits from multiphysics M&S.

COMSOL Multiphysics® is a groundbreaking software platform that has revolutionized the field of engineering, manufacturing, and scientific research. With its comprehensive suite of modeling and simulation capabilities, it offers a wide range of applications across various industries.

What makes COMSOL's offerings different from other players in the market?

Based on our customers' feedback, and also based on our patents, we believe that we offer unique M&S capabilities For instance:

The Model Builder gives users the ability to create mathematical models and generate numerical models “on the fly” This makes it very easy for our developers and our customers to add new models for new materials and new processes accounting for any physics phenomenon

The Application Builder for creating simulation apps based on multiphysics models is unique; we have not heard of any other tool that is so specifically adapted for M&S The Application Builder enables users to drag and drop widgets and other components into a simulation app's user interface and link them to the settings of the underlying multiphysics model Then, using the COMSOL Compiler™, the app can be compiled into a completely standalone app that can be run without a COMSOL license or installation, which means that the benefits of M&S can be shared with a larger community

The Model Manager provides a centralized repository to help users organize, reuse, and maintain version control of models, apps, simulation data, and associated files, such as experimental data, CAD files, presentations, and reports While there are other tools for simulation process data management (SPDM), we are not aware of any that is as specialized and adapted for multiphysics M&S as the Model Manager

Anything you would like our readers to know?

Artificial intelligence (AI) and machine learning (ML) are on everybody's agenda these days. We see the combination of M&S and AI (and ML) as a way of creating very fast and compact yet accurate models One application for this combination of technologies is using it to predict the status of battery systems, such as for accurately determining their state of charge and state of health In this case, we would use highfidelity models to train an AI The process would require a large number of computations, but the resulting AI-based model would be very compact and extremely fast It could be used for real-time decision making and could be incorporated into a digital twin (DT), where the high-fidelity model would be used to continuously update the AI and the DT The DT could then be used for diagnostics, characterization, selection of materials, and other processes involved in the development and design of battery systems We think this integration with AI and ML is something to look forward to regarding multiphysics M&S

INCONVERSATION

Servotech Driving India's Electric Vehicle Charging Market: Growth Potential and Strategic Initiatives

Raman Bhatia

Founder & Managing Director

Servotech Power Systems Ltd

CONVERSATION HIGHLIGHTS

Servotech aims to make India the leading global hub for EV charging. Servotech is actively setting up commercial charging stations on a panIndia basis and working on aggressive policies to establish more charging stations at strategic locations

Servotech offers a range of EV AC and DC chargers for homes and commercial charging stations, with a focus on delivering a delightful consumer experience through fast charging facilities

How are you seeing Servotech's India electric charging market growth potential? What are the steps being taken by Servotech to capture the lucrative electric charging market in India?

Electric charging market growth in India has a bright future People are rapidly switching to electric vehicles in both categories of transportation including personal and commercial vehicles Servotech entered the Indian EV charging market with a vision of making India the leading global hub of EV charging market We have recorded commendable growth in previous years and believe to secure a stable position among top 3 EV charger manufacturers India possesses all resources and required talent to lead the EV charging market in the near future Servotech is committed and promises to hold the tag of the most important contributor to this achievement with the biggest stake Servotech EV AC & DC chargers for homes and commercial charging stations are easily available in the market Servotech is consistently setting up commercial charging stations on a PAN India basis to deliver a delightful consumer experience with fast charging facility Servotech’s high-performance EV DC chargers for fast charging are available for all EV owners at a number of BPCL, Nayara fuel outlets, and other sites This is a small step in the long journey of Servotech We are continuously working with aggressive policies to set up more charging stations at strategic locations Several business partnerships & deals are also underway Servotech is India’s leading EV charger manufacturer and continuously working to support and promote sustainable mobility with the easy availability of tech-enabled EV charging solutions

What is your take on the recent penalty levied upon some leading electric 2-wheeler OEMs by the government on account of non-compliance with FAME-II compliances?

The government’s recent decision to halt the subsidies worth Rs 800Cr for some leading electric 2-wheeler OEMs for noncompliance with FAME II guidelines sends a strong message to all automakers, OEM manufacturers, and EV owners that everybody essentially has to come together and comply with stipulated guidelines to promote e-mobility Non-compliance with any of these guidelines will reduce the speed of transformation to e-mobility and will make government create stricter norms for EV manufacturers, dealers, and consumers to compromise upon subsidies and other benefits Any non-compliance with FAME II guidelines is unacceptable and the government is adamant to not compromise on any carelessness The targets of sustainable mobility are yet to achieve It is not an easy run There is still a long way ahead to cover Guidelines of FAME II to provide subsidies are specifically designed to make EVs a popular option for transportation and everybody must comply with all directives

What is your market outlook for the EVCS manufacturing market in India?

The Electric Vehicle Charging Station (EVCS) manufacturing market in India is still in the developing stage Automakers and external commercial charging hosts seem less interested in EVCS manufacturing because it requires a big investment to set up and maintain The easy availability of power supply in the required quantity also proves a big challenge to professionally run a charging station. This challenge looks easy to control in cities due to the continuous power supply and the presence of a number of EVs The same situation turns gloomy in rural areas due to the limited numbers of EVs and the unavailability of fast charging facilities in proximity. Servotech’s R&D department is continuously working to create and implement viable tech solutions that will help to easily overcome these constraints We are carefully looking at each update of the EVCS manufacturing market in India and finding new ways to ensure convenient charging for EV owners of all categories Our teams are strategically marking new areas to set up new charging stations and make the decision of driving an EV a delightful experience and keep different kinds of charging hassles aside

Servotech is dedicated to supporting and promoting sustainable mobility by providing easy availability of tech-enabled EV charging solutions. They strive to be a significant contributor to India's achievement of sustainable transportation goals.

Servotech has recently announced its Q4FY23 results that reflect a commendable growth of a 134 8% increase in total revenue and a 363 4% increase in profits We additionally have signed a sole distributorship agreement with Dubaibased Al-Ansari Motors to sell our EV Chargers in the Middle-East region Servotech considers these achievements in high esteem as well as working on import/export business activities to leave indelible footprints on the global EV charging market Servotech is a dedicated group of enthusiastic professionals who continuously works to meet the targets of e-mobility in a smooth manner and make EV-driving a delightful decision for all owners EV markets across the world are not yet fully developed They still need a huge push to serve enthusiastic EV owners with easy availability of required charging facilities and equipment Servotech has created a robust plan to increase production capabilities in upcoming times and efficiently cope with the scarcity of upto-the-mark EV infrastructure in the

domestic market as well as in global markets with continuous export For being a truly professional EV charger manufacturer, Servotech maintains a pragmatic approach to overcome all hindrances and meet business goals in a convenient manner Just because of this approach, we work with flexibility to instantly conform to changing needs

approaches and strong technical knowledge Their contribution might turn the Indian EV charging and manufacturing industry into a highly lucrative sector to significantly contribute to the economy EV manufacturing and charging stations are entirely new to the automotive market and the continuously increasing graph of EV sales is giving new hope to the ecosystem of the EV charging and manufacturing industry Any financial help from the government and flexibility in legal policies must make the Indian automotive market a global EV hub

EVs are unquestionably the future of transportation not only in India but across the world Servotech is committed and going to play a key role to make this a reality very soon by establishing commercial charging stations at strategic locations for fast charging Amicable policies & financial aid from the government are essential to smoothly set up electric charging component (EVCS) and electric vehicles (2W & 3W) manufacturing India has plenty of ambitious manufacturers and service providers with fresh ideas, innovative

Kindly give us some recent updates on your company's new investment, MOUs if any?

Kindly give us your brief take on getting finance for India's electric charging component (EVCS) and electric vehicles (2W & 3W) manufacturing.

goEgoNetwork's Steps to Capture India's EV Charging Infrastructure Market

Pravin Kumar

Co-Founder, goEgoNetwork

CONVERSATION HIGHLIGHTS

Strategic alliances: goEgoNetwork has partnered with companies like Park+ to install charging stations in residential welfare associations (RWAs) and commercial premises

Strong dealership network: The company has established a wide dealership network across India to improve accessibility and coverage of their charging infrastructure

The company intends to install chargers at various locations, including popular tourist destinations such as Tirupati and Shirdi Their goal is to complete installations at more than 300 sites by the end of the fiscal year 2023.

How goEgoNetwork is seeing India's electric charging infrastructure market growth potential? What are the steps being taken by GoEgoNetwork to capture the lucrative Charging Infrastructure market in India?

EVs is the not the future it has become PRESENT now Tata has sold more than 50k EVs, 2 wheelers sales are crossing more than 100k Tata’s new PV sales comprises of 9% EV Mahindra has launched XUV 400, Maruti the biggest OEM, I think, will not sit behind for long and come soon with their models These new launches directly result in huge demand for charging infra. In our existing network, we are seeing the demand to double every 4 months goEgo has partnered with companies like Park+ to capture RWAs and commercial premises that are first movers in the EV journey and installed together more than 200 charging stations already.

We have built a strong dealership network pan India to achieve its ambitious targets

What is your take on the recent penalty levied upon some leading electric 2-wheeler OEMs by the government on account of non-compliance with FAME-II compliances?

I personally think that it was a required step to ensure that ARAI certified vehicles are also produced and not only just tested and push cheap and non-compliant products To build strong consumer confidence it was a necessary step I am sure OEMs would have take These steps eventually to be competitive but as this technology is new this intervention was required Any common person will use water to extinguish the fire but in case of an EV fire water usage to extinguish the fire is deadly This education is also the responsibility of both OEMs and Govt

What is your market outlook on the Fast charging market in India?

For the next 5 years this is going to be the biggest confidence booster for bringing EV as mainstream mobility options Even though I truly believe that AC chargers will dominate total EV infra, Fast DCs will play a big role in Public Charging We expect this market to grow more than 50% year on year and May be more

Kindly give us some recent updates on your company's new investment, MOUs if any.

Company is currently running two Big public charging parks with more than 9 charging points in two different cities Within 12 months these charge parks are already delivering 10 Megawatts hours and reaching around 18% utilization We are currently in advance talks with big auto OEMs to scale up charge parks across India

We have installed chargers in Tirupati at the top and also at Shirdi We already have 300plus sites where installations need to happen by the end of FY23

Kindly give us some recent updates on your company's new investment, MOUs if any.

We read a lot about funding winter but EV space is still attracting decent investments I think govt has to play a big role here to support startups like us We are also in the market to raise Series A funding and talking to a few IBs This looks promising and I am sure with our complete make-in-India tech for both Hardware and Software, we will be able to close the next round in 3-6 months

Website: https://www.goegonetwork.com/

goEgoNetwork acknowledges the importance of government support and is seeking funding opportunities, including Series A funding from investors and discussions with investment banks.

EVRE's Integrated Approach Fuels India's EV Charging Infrastructure Growth

Chandresh Sethia

Co-Founder & CBO

Amplify

Cleantech Solutions Pvt. Ltd., EVRE

CONVERSATION HIGHLIGHTS

India has become the world's third-largest auto market, creating immense potential for the electric charging market

EVRE has raised two previous funding rounds and is currently raising a Series A round of $30 million, focusing on equity and debt

EVRE's revenue model, which guarantees fixed revenue on every charging station, makes it attractive for banks to fund such projects

How EVRE is seeing India's electric charging infrastructure market growth potential? What are the steps being taken by EVRE to capture the lucrative Charging Infrastructure market in India?

India recently became the world’s third largest Auto market overtaking Japan

With more than 10 lakh electric vehicles sold in FY 2023 and number set to cross the 5 crore mark by 2030 the EV charging market has massive potential

To fulfill the EV demand India will need 2 million charging stations The initial years have been fueled by growth in 3 & 4 wheeler commercial electric vehicles as they present clear savings over their ICE counterparts along with sky rocketing 2 wheeler sales, and the steady growth in the sale of private cars

EVRE understood this unique market requirement as early as 2019 and started building charging infrastructure with a strategy of tech enabled public charging hubs and spokes model across multiple cities that would support commercial and private vehicles

Today, EVRE is the only 100% vertically integrated EV charging solution provider in India With inhouse design, development, and manufacturing of patented charging station hardware ( both AC & DC) & software, with businesses involving product sale and sale of energy supported by our 24x7 operation, maintenance of the charging infrastructure.

This control of the complete value chain has made EVRE the most reliable fleet charging infra provider offering the highest charger uptime in the industry, in upwards of 97%

We are also the largest fleet ( 3 & 4 wheeler) charging company in India with presence in more than 16 cities EVRE’s has more than 100 clients and partners including a few fortune 500 India companies. At our current growth rate and signed agreements we will on an

average charge more than 5000 vehicles in next 8 months and 20 thousand vehicles every day in the next 20-22 months

What is your take on the recent penalty levied upon some leading electric 2-wheeler OEMs by the government on account of non-compliance with FAME-II compliances?

Not our forte, so will not comment

What is your market outlook on the Fast charging market in India?

I think inside cities the need for fast charging for private usage cars is minimal The average driving distances of these cars is usually around 30km and home/destination charging suffices Fast charging should be made available at important locations within the cities for emergency/opportunity charging

The same is not applicable for passenger fleets, commercial vehicles and buses as they operate 200+ & 150+ and 300+ km everyday and cannot just do away with slow charging as it reduces the business time Fast charging is a must for these vehicles

The one place place where fast charging infra is a must is the highways, with new models of cars with bigger range being released every day has made intercity travel a reality yet charging infrastructure is a the most important cog without which range anxiety remains the biggest mental barrier

Kindly give us some recent updates on your company's new investment, MOUs if any.

EVRE has previously raised two rounds rounds of funding We are currently raising a our Series A round of $30 million - a mix of equity

and debt focusing on Strategics climate & infrastructure funds and Private equity We have some of the fortune 500 India companies as our clients and partners(mentioned earlier)

Kindly give us your brief take on getting finance for India's electric charging infrastructure.

Indian government has taken initial steps such as developing a national EV policy, the FAME II scheme, which includes a subsidy for setting up electric vehicle charging stations across the country.

However, given the size and growth of India’s EV sector, much more extensive infrastructure is needed To meet the scale of capital required for establishing charging infrastructure,private investment market is critical Using public funds wisely to create the right conditions for private investment would be the right approach

For a typical charging business, chief outflows of cash are capital expenditure, grid connection cost, energy costs for procuring electricity (grid or renewables), debt servicing, site leasing fees, if any, and operations and maintenance Though State and national policies have significantly lowered capital expenditure and investment but more streamlining is needed to make these schemes easier and accessible

Unlike most other charging businesses that require assumptions to predict revenues which makes it hard for banks to fund such project on competitive terms EVRE’s major revenue is always fixed and guaranteed on every charging stations which makes It lucrative for the banks to fund such projects.

However, like most other emerging clean energy segments, in addition to long term policy support, charging infrastructure needs customized financial solutions to grow the market Developing a financing ecosystem that includes dedicated green finance institutions, private investments and banks

FIMER INSTALLS FIRST EV CHARGER IN SRI LANKA, PAVING THE WAY FOR ELECTRIC MOBILITY

FIMER recently supplied and commissioned the first EV charger in Sri Lanka for a reputed automobiles company Supplied model was FLEXA AC Wallbox SA 11kW T2C. The EV charger was supplied through our local distributor and channel partner M/s S L A M Power Solutions to Overland Automobiles

The FIMER FLEXA AC Wallbox is an EV charging device both for private applications and for public or company car parking facilities, which can be installed on a wall or on a dedicated FIMER FLEXA Stand

FIMER FLEXA AC Wallbox offers different configurations, depending on the type of charging required by the user: It can be set up with a fixed charging cable (T2) or with a socket (T2 orT3A) connected to an external cable, and is available in different versions depending on the power, the type of connection to the vehicle and the type of connectivity

The FIMER FLEX A AC Wallbox is ideal for private use: installed in the garage or in the common courtyard, it allows to charge the car or the scooter in a simple and affordable way making it faster safer and more convenient than a traditional domestic socket

It is equipped with RFiD reader, whose main feature is local access management and control This function allows the programming of RFiD cards in full autonomy and without the aid of external tools or connections

Thanks to the My FIMER WaIIbox App, the end user can manage the charging process, monitor it and check its status in a simple and intuitive way, set up a power limit and update the firmware

Each FIMER FLEXA AC Wallbox is available in different powers and configurations to meet different charging needs

Easy to install and maintain thanks to the quick-mounting system

Maximum flexibility Maximum flexibility Sustainable

The FLEX A AC Wallbox is not only a functional, reliable, safe and flexible solution, but also environmentally friendly Its casing and packaging are made from 100% recycled materials

About FIMER

FIMER is one of the largest, tier-one, renewable energy equipment suppliers in the world Specializing in solar inverters and electric mobility systems it has over 1000 employees worldwide and offers a comprehensive solar solutions portfolio across all applications FIMER’s skills are further strengthened by the bold and agile approach that sees it consistently invest in R&D With a presence in over 20 countries together with local training centers and manufacturing hubs, FIMER remains close to its customers and the ever-evolving dynamics of the energy industry

For further details, visit our website www fimer com and follow our social channels:

Top 30

EV Charging Leaders

Join us as we celebrate the exceptional visionaries and trailblazers who are at the forefront of transforming the nation's emobility landscape In this groundbreaking campaign, we proudly present 'India's Top 30 EV Charging Business Leaders,' showcasing the remarkable individuals and organizations driving sustainable change. Congratulations to these leaders"

VISHAL KAPOOR CEO Energy Efficiency Services Limited (EESL)

SHRI. N. MOHAN CEO,DelhiEVCell, Transport Department, Govt of NCT of Delhi

Co-FounderandCEO Tirex Chargers

VINIT BANSAL Founder&MD EV Motors India Pvt. Ltd

ANANT BADJATYA CEO Sun Mobility

UDAY NARANG Founder&Chairman Omega Seiki Mobility

SANJAY KRISHNAN Founder Lithium Urban Technologies

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KARTIKEY HARIYANI ManagingDirector TecSo Energy & CHARGE+ZONE

SUMIT MITTAL COO&Directorof Finance GreenCell Mobility Private Limited

VARUN GOEL Founder Uznaka Solutions

SAYANTAN CHAKRABORTI CEO goEgo Network Founder EVRE

SHEKHAR Co-Founder&CEO KAZAM EV CEO,ChargingBusiness Okaya Power

GAURAV TRIVEDI ChiefBusiness Officer eee-Taxi

DR. LALIT SINGH CEO TelioEV

DHAIRYA SHAH Founder&CEO Mindra EV Pvt Ltd

ISHAAN PARWANDA Director Trinity Touch Pvt Ltd

GIRISH NAGPAL CEO&Co-founder MetroRide

MEGHA RAJPAL BusinessHead Charginginfrastructure

Moeving

MANOJ GUPTA Head–EVCharging Business JBM Group

NEHA JAIN HeadEVsand Innovation Morris Garages India

OMKAR SHALIGRAM Head-EVCharging Tata Motors

POORVAK KAPOOR AVP-Vehicle Intelligence Euler Motors

AMIT TYAGI VicePresident Phoenix Contact

BONEY GEORGE Founder-Director I Corp Pays Pvt Ltd

HIMANSHU PATEL Manager(T&P) E-FUEL

AKASH GUPTA CEO&Co-founder Zypp Electric

SANDEEP BANGIA COO,Electric Mobility Jio-bp (Reliance BP Mobility LTD.)

Arjun Sinha Roy, Co-Founder, iRasus technologies ltd, Arjun Sinha Roy has Startup Leadership Technology Consulting & Strategic Leader managing CXO engagement with over 18 years of experience. Handled complex product and Consulting engagements in IT, Mobile and Digital industry Currently, iRasus technology, An Energy Analytics company in the Clean Tech Domain working in the intersection of Battery Storage, Charging Infrastructure and Solar Analytics

DI and AI integration in the automotive sector has transformed manufacturing, design, user experiences, zero-emission vehicle adoption, and quality control. These technologies enhance processes, customize design, improve driver assistance, promote electric vehicles, optimize quality, and drive customer satisfaction. Automotive manufacturers must invest in data analysis and AI to stay ahead in the evolving industry."

BOOST PRODUCTION PROCESSES AND IMPROVE FACTORY EXPERIENCE?

Data and Artificial Intelligence have emerged as major boons to several industries, and the automotive sector is no exception These modern technological applications are key to improving customer experience, fortifying the production environment, and unlocking a sustainable future Below, we discuss other applications of DI and AI in the automotive sector!

A few decades ago, the very idea of machines being able to make complicated calculations, think independently, and offer effective solutions to the world’s pressing problems seemed like a far-fetched dream Now, things have changed, and modern-day inventions like virtual agents, chatbots, smart assistance, and manufacturing robots have taken over These developments wouldn’t have come to life without progress in artificial intelligence, machine learning, and data analytics

Today, almost all sectors, especially the automotive industry, are reaping the rewards of this progress Data suggests that India’s automotive market is worth USD 100 billion and is anticipated to touch the USD 160 billion mark by 2027 With the various applications of cutting-edge technologies like data and AI, automotive players and consumers can benefit significantly from the rapid progression.

Transforming Automotive Value Chain

Visionary automakers leverage AI applications across different value chains, such as manufacturing, production, supply chain, design, post-production, driver support, and risk management In addition, AI has also proven helpful in revolutionizing the aftermarket services such as performance monitoring, equipment condition assessment, and insurance Here is how the technology is integrated across the value chain system:

Vehicle Manufacturing

In recent years, automotive manufacturers increasingly rely on AI to boost manufacturing, changing how cars are produced. Several big players in the industry are leveraging AI-powered robots to develop and deliver customized cars and independently transport equipment and materials with minimal human intervention As these tools are equipped with neural networks, the robots continue to learn and adapt to automotive manufacturing skills enabling them to function efficiently with and without humans, and even in the most challenging situations The best part; AI can also predict equipment breakdowns that interrupt production with the help of data gathered from vibrations and background noise

ARJUN SINHA ROY

Design and Testing

AI is the backbone of product design and testing The pioneering technology has been extensively shown to assist product designers and development teams in tailor-make models that align with customers’ needs This helps identify potential gaps and modify the virtual prototype before the physical model is built Using this approach, automakers can save costs and generate multiple models that perfectly replicate all aspects of vehicle design under realistic scenarios

Improve User Experiences and Engagement

The true power of AI can be seen through its driver assistance technology, mainly used in new-age cars The technology surveils the driver’s eye and immediately indicates if they have fallen asleep or are tired Moreover, AI also helps drivers navigate highways, learns their preferred temperature settings and playlists, and instantly detects defaults in the vehicle, collectively making driving less stressful and more efficient In a way, this improves the environment inside the vehicle immensely favorable for the driver and boosts customer satisfaction

Adoption of Zero Emission Vehicles

The recent few years have seen a growing emergence of zeroemission vehicles, particularly electric vehicles (EVs) powered with AI-backed mobility applications in passenger cars, transit buses, and heavy-duty trucks With this, the demand for fast-charging technology is on the rise, too Still, thanks to machine learning, engineers can anticipate the nature of batteries under different circumstances and develop solutions that would ensure the drivers never run out of power Though the infrastructure still remains in its early stages, it has the potential to help drivers cover maximum distance in varying conditions, with maximum uptime and minimum maintenance costs.

Quality Control

Though car manufacturers use computer vision for quality control, they do not suggest product changes and can identify only certain defects. AI-backed quality control solutions can go beyond detecting basic glitches and intelligently categorize multiple defects simultaneously It can easily eliminate human intervention and significantly combat problems down the road, ultimately improving system efficiency

The impact of these technologies is clear It is high time to adopt these technologies Act now, or risk falling behind the curve! Automotive manufacturers must consider investing in pooling and analyzing high volumes of data and then leveraging these observations to fortify artificial intelligence applications

RECOGNIZING INDIA'S DYNAMIC YOUNG EV LEADERS

EMobility+ is thrilled to come out with an exclusive special feature of EMobility+ 40 under 40 Here are the names of the most dynamic and young EV professionals who have accelerated the Indian EV industry in 2023 and have made a mark for themselves. EMobility+ recognises their contributions and congratulates each one of these leaders for their significant achievements. From pioneering innovations to groundbreaking initiatives, these leaders are accelerating the shift towards a cleaner, greener future. We look forward to a greener economy under the leadership of these stalwarts."

PREETESH

PrincipalConsultant,

AGARWAL

VolvoCEIndia

Founder&CEO ObenElectric

Transport Department,Govt ofNCTofDelhi

PowerGrid, AsiaPacfic DNV

TONDON Head,Corporate Communications OmegaSeiki Mobility

HeadofCommercials andOperations GogoroIndia

SUNIL SHARMA ChiefOperations Officer TruEBikes PvtLimited

PRASOON CHAUDHARY Founder&Managing Director AN3Techno PowerLtd

KUMAR HeadofSupply Chain& Manufacturing EulerMotors

JADHAV EO&Director ndamarkIndia

SINGH SpecialistCASEand AlternatePowertrains NomuraResearch InstituteConsulting andSolutionsIndia Pvt Ltd

KANV GARG MarketExpertand Advisor,Energy eMobility HeroMotocorp

NIKOLEV(Nikol Automotive PvtLtd)

HEMANT KABRA Director BguassAuto pvtltd

FIMERIndia PvtLtd

CTO&Co-founder MetroRide

Head-R&D OmegaSeiki Mobility

WHY IS BATTERY RECYCLING KEY TO ECONOMY BY 2070?

AUTHOR

DR ANJALI SINGH

Group Lead , Center for Study of Science, Technology and Policy (CSTEP)

India is committed to its net-zero goals by 2070, and the decarbonisation of the transport sector through vehicular electrification is a major cornerstone

Evidently, this is expected to increase the demand for batteries in future Among the available battery technologies, lithium-ion batteries (LIBs) are most suitable for electric vehicles (EVs). EVs are mainly powered by lithium nickel manganese cobalt oxide (NMC) and lithium iron phosphate (LFP) battery chemistries

By 2050, the LIB demand is expected to grow by 4950–5300 GWh and 750–800 GWh for EVs and stationary applications, respectively

A critical question at this juncture is whether the supply of materials used in LIBs can keep up with this booming demand

Achieving a closed-loop economy for LIBs is difficult owing to their complex chemistries, sizes, and components Further, the key elements used in batteries, such as lithium, cobalt, nickel, and phosphorus, may face shortages over time

Recently, India has discovered 5 9M tonnes of lithium reserves in Reasi district in Jammu and Kashmir. At this point, it is only an inferred reserve, and the actual estimates could differ As per experts, it will take 5–10 years for the discovery of proved reserves and mining to have a direct impact on the country’s growing EV demand

Thus, recycling batteries at end-of-life will provide a sustainable means to meet the growing raw material requirement

Considering the battery manufacturing targets set by the NITI Aayog under its Energy Storage Mission, recent research estimates the cumulative LIB recycling market to reach 160 GWh by 2030

Additionally, energy and water consumption in case of material extraction from scrap is significantly lower than that in case of material extraction from freshly mined resources For example, cobalt extraction from scrap requires 20–140 MJ/kg of energy and 30–100 m3/tonnes of water, whereas that from ore requires 140–2100 MJ/kg of energy and 40–2000 m3/tonnes of water.

Although some companies already recycle batteries at a large scale globally, the processes either do not recover lithium or recover it with impurities due to technological constraints However, several studies on refining recycling technologies are ongoing

LIBs aid in clean energy and green mobility, but they face end-of-life environmental challenges Although EV batteries are designed to last for 8 years, most of them start losing their capacity after 5 years, thereby reducing the driving range of the vehicles Following the end-of-life of EV batteries, they still retain 80% of their capacity. Faded EV batteries can be considered for use in other applications, including as a storage backup for solar and wind energy on the grid or in home inverters

Currently, as per NITI Aayog data, less than 1% of LIBs are recycled in India, indicating that the battery recycling market is at a nascent stage Recycling in India is handled mostly by the informal sector, mainly involving unskilled workers But, LIB recycling requires sophisticated infrastructure, skilled labour, and huge investments

The Battery Waste Management Rule, 2022, is a positive development to promote circular economy and ensure future self-sufficiency. Stringent regulatory frameworks are needed for safe transportation of batteries and upscaling of the capacities of battery-producer companies

To achieve net-zero targets, recycling of battery materials will help in filling the supply–demand gap of critical raw materials, for which India is significantly dependent on imports.

example, batteries form an integral part of both EVs as well as renewable energy (RE), but their production involves carbon-intensive processes such as mining, refining and processing, and cell manufacturing, increasing the embodied emissions of EVs by 20-50% compared to ICE

critical role in reducing the demand for new mining, as it has a potential to fulfil approximately 25% of global lithium demand, 35% of cobalt and nickel and 55% of copper by 2040 Therefore, enough adherence must be given to implement a circular economy & improve recycling infrastructure for effective management of the life-cycle emission from the LIB supply chain

P E R S P E C T I V E

Battery Recycling: Emission Reduction Potential in India

India depends heavily on imports of Li-ion cells and battery packs to curb the growing demand for these batteries Despite continuously decreasing prices of LIBs, the investments for importing these batteries in India have increased by over 21 times since 2014 To reduce import dependence, the government is encouraging battery OEMs to move from localized pack assembly of imported cells to indigenous cell manufacturing, for which it has introduced schemes like Product Linked Incentives (PLI) for Advanced Chemistry Cells (ACC) manufacturing, and has also levied tariffs on imported cells Recently, India has discovered huge inferred lithium deposits of 5 9 million tonnes in J&K and more reserves in Rajasthan, an important development for India to become atmanirbhar in raw material supply

As India develops LIB supply chain for self-sustained manufacturing, discreet steps must be taken to reduce upstream and midstream emissions which will improve the mitigation performance of these new low-carbon technologies One effective way is to integrate circular economy i e supplying material recovered from scrapped batteries for manufacturing of a new battery It is found that 70% of the retired batteries in 2020 did not reach any formal recycling facility, indicating low recycling efficiency in the country. Moreover, the black mass recovered from recycling, which can be processed domestically to extract battery-grade raw materials, was shipped outside India

With the rapid utilization of batteries, the expected recycling volume coming out of deployment in India by 2030 is 125 GWh. Therefore, developing a domestic active material and cell manufacturing industry in India will open the window for the processing and utilizing battery-grade raw material coming from recycling of the black mass derived from these batteries To support the development of the LIB recycling industry, although India has notified the "Battery Waste Management Rule (BWMR) 2022" effective implementation requires more enabling policy and regulatory interventions

The government has prioritized electric vehicle adoption and renewable energy penetration to reduce GHG emissions from the transport and power sectors It aims to increase EV sales to 30% of the vehicles sold annually in the country and to expand the installed non-fossil electricity generation capacity to 50% by 2030.

Repurposing existing vehicles is an important step towards electrifying India's transportation sector, as it can help reduce the cost of transitioning to electric vehicles

Here are some ways in which repurposed vehicles can be electrified in India:

Retrofitting: One of the simplest ways to electrify a repurposed vehicle is by retrofitting it with an electric motor and battery pack Retrofitting involves removing the vehicle's internal combustion engine and replacing it with an electric motor, along with the necessary wiring and controllers This can be done by specialized companies that offer retrofitting services for various types of vehicles, including two-wheelers, three-wheelers, and commercial vehicles

Conversion kits: Another option is to use conversion kits that can be installed in existing vehicles to convert them into electric vehicles These kits include an electric motor, battery pack, and other components needed to convert the vehicle to electric They are available for a wide range of vehicles, including cars, buses, and trucks.

Swapping: Another approach is to swap the internal combustion engine with an electric motor This involves removing the engine and replacing it with an electric motor, along with the necessary wiring and controllers This approach is more commonly used for two and three-wheeler, where specialized companies offer battery-swapping services

Hybridization: In some cases, it may be possible to hybridize existing vehicles by adding an electric motor to work alongside the internal combustion engine This can help reduce emissions and fuel consumption while also extending the range of the vehicle

Green financing of repurposed electric vehicle in India

Green financing is becoming increasingly important in India's EV ecosystem as it helps reduce the financial burden on buyers while promoting sustainable transportation The concept of repurposing and electrifying used vehicles is gaining momentum in India as a costeffective and eco-friendly way to transition to EVs Green financing options such as loans, lease options, and other incentives are available to individuals and businesses looking to adopt EVs, including repurposed EVs These financing options are often provided by nonbanking financial companies (NBFCs) and banks

Special Story

How Can Repurposed Vehicles Be Electrified And Financed In India?

Green financing is becoming increasingly important in India's EV ecosystem as it helps reduce the financial burden on buyers while promoting sustainable transportation The concept of repurposing and electrifying used vehicles is gaining momentum in India as a cost-effective and eco-friendly way to transition to EVs. Green financing options such as loans, lease options, and other incentives are available to individuals and businesses looking to adopt EVs, including repurposed EVs These financing options are often provided by non-banking financial companies (NBFCs) and banks

One example of green financing in the repurposed EV space is a partnership between Mahindra & Mahindra's Mahindra Electric and RevFin, a digital lending platform Through this partnership, customers can avail themselves of customized financing solutions to purchase used Mahindra Electric vehicles This includes loans that cover the cost of converting a used petrol or diesel vehicle into an EV.

Another example is the Delhi government's Electric Vehicle Policy, which provides financial incentives for converting old vehicles into electric ones The policy offers a subsidy of up to INR 30,000 for the retrofitting of vehicles and an additional INR 10,000 for scrapping old vehicles The policy also provides incentives for the purchase of new EVs, making it easier for people to transition to cleaner and greener vehicles

Overall, repurposing existing vehicles is an important step towards electrifying India's transportation sector While there are challenges involved in converting existing vehicles to electric, including the cost of retrofitting and the availability of components, it is an important area for research and development in India's growing EV ecosystem Green financing plays a critical role in promoting the adoption of EVs, including repurposed and used EVs Through partnerships between NBFCs, banks, and EV manufacturers, people can access customized financing solutions to help reduce the upfront cost of buying an EV. These initiatives are a crucial step towards a sustainable and eco-friendly transportation ecosystem in India

At Kazam, Sheetal Adappa passionately engaged in driving the development and success of kazam's software solutions in the electric vehicle (EV) domain. Kazam's cutting-edge platform enables organizations to streamline their operations by effectively managing EV charging infrastructure, regardless of the hardware provider

India's introduction of the EVCS-2.0 (Electric Vehicle Charging System2.0) signifies a significant milestone in the country's electric mobility landscape. This unified, interconnected charging infrastructure network, built on the CCS (Combined Charging System) standard, addresses the current lack of coordination and fragmentation in India's charging infrastructure. The EVCS-2.0, overseen by Convergence Energy Services Limited (CESL), provides electric vehicle owners with a seamless and reliable charging experience."

INTEROPERABLE AND CONNECTED CHARGING INFRASTRUCTURE

As more and more people are choosing electric vehicles the importance of having interoperable and connected charging infrastructure networks is becoming increasingly apparent India has set an ambitious goal of attaining 100% electric vehicle sales by 2030, which will necessitate a reliable network of public charging stations

At the moment, EV owners in India must utilize multiple accounts and payment systems to access the numerous charging infrastructures since they are not interoperable or directly connected This lack of coordination can cause frustration and is inefficient as it makes it hard to organize the entire network Thus, it leads to a fragmented charging infrastructure that is troublesome to manage.

In response to this predicament, the Indian government has unveiled the EVCS-2 0 (Electric Vehicle Charging System - 2 0), a unified, interconnected charging infrastructure network This system is built on the CCS (Combined Charging System) standard, and it allows for AC and DC charging The EVCS-2 0 will be overseen and maintained by a single source, the Convergence Energy Services Limited (CESL) Private players have the opportunity to use, manage and run their own charging stations All electric vehicle owners can access the unified payment system through a single platform The charging units will interact with one another and the central network so they can provide data in real-time on location and status

The implementation of the EVCS-2 0 network is a decisive move towards creating an interoperable, interconnected charging system in India This will make things easier for electric vehicle operators, attract more people to switch to EVs and improve the efficiency and dependability of the country's recharging infrastructure

Integration and interconnectivity of charging systems is a necessary element in constructing a successful electric vehicle charging infrastructure This means that charging stations must be compatible with each other, regardless of the provider, and can be accessed through the same payment system This compatibility and connection makes it easier for drivers to find a place to charge their car.It is important because it eliminates the need for EV owners to have multiple accounts and payment systems with different charging networks This can be inconvenient and confusing, particularly for those who travel frequently and may need to use charging stations from different operators By ensuring that charging stations are interoperable, EV owners can enjoy greater flexibility and ease of use.

Connected charging infrastructure is the lifeblood of modern electric vehicles Rather than relying on guesswork to locate a nearby charging station, what if you could access real-time data about availability and status? This is where the central network comes in handy It enables operators to monitor and manage the network more efficiently, which saves time and money So, whether you’re an electric vehicle owner who needs to charge on the go or an operator looking for ways to streamline your business, connected charging infrastructure can be a game-changer

To achieve interoperable and connected charging infrastructure, several technical and operational standards need to be put in place; they may include Communication protocols, Payment systems, Network management, Security and privacy

Network management: A central network management system needs to be established to manage the charging infrastructure network It can monitor and manage the availability and status of charging stations, process transactions, and provide real-time information to EV owners

Security and privacy: The charging infrastructure for electric vehicles must be secure and preserve the confidentiality of owners This involves encrypted communication, safe payment methods, and regulations to protect data

Interconnected and interoperable charging systems can motivate more individuals to buy electric cars. This is because affording a reliable, easy process for electrifying vehicles will make a transition from gas-guzzlers more attractive When a central network control system oversees the infrastructure, making sure that every charging station is up and running all the time This way, everyone can trust that wherever they go, they'll be able to find a working charger

The development of interoperable and connected charging infrastructure is essential for creating an effective electric vehicle charging network Through the implementation of shared communication protocols, payment systems, and network management tools, EV owners can take advantage of smooth and hassle-free charging experiences, which ultimately make EVs more appealing to the public To this end, governments and private operators must collaborate in order to establish interoperable and connected charging infrastructure standards and networks that will enable the further growth of the EV market

Kazam is a one-stop e-mobility software platform for digitising and managing the entire value chain from managing grid energy to fuelling an EV to managing a fleet

Communication protocols: In order to guarantee that all charging stations in the same system can interact and collaborate seamlessly, they must have a way to communicate with each other as well as a controller network This requires the use of compatible communication protocols

Payment systems: It is essential to create a centralized payment system that can be used across all charging networks meaning EV owners need only possess one account and payment method for any charging station in the network

The brief on the technical and operational standards

Maxson is a heart-centered entrepreneur & a technology enthusiast with over 2 decades of professional experience that encompasses four areas - Automotive, Power Sector, Clean Energy Solutions, and Management Consulting He co-founded Magenta, India's fully integrated electric mobility, EV charging, and technology platform that revolutionizes and aggregates the urban freight & last-mile delivery segment across the country with its state-of-the-art technology-enabled vehicles and Fast Charging capabilities Magenta has won numerous awards and accolades and is recognized for its pioneering work in clean energy solutions

At Magenta, Maxson leads the business strategy and day-to-day operations of Magenta's electric mobility management systems Apart from focussing on the overall expansion of the business, he is also responsible for strategic partnerships and the advancing mobility electrification market development Maxson has played an instrumental role in leading the company's growth and establishment as the preeminent electric mobility player in the industry

Maxson's prior experience includes working with MNCs that includes; Accenture, Bosch, and Saint-Gobain with his more than 20 years of experience in Automotive and Power, Electric Vehicles were his destiny He has also been a coach to start-ups and also an advisor to medium-size enterprises A true Social activist in the areas of green energy and waste management he has also authored several published research papers and articles in leading business newspapers

A Mechanical Engineer and an MBA, he is an avid reader, superbiker, cyclist, off-roader, rollerblader, and big-time aficionado of music

Optionsingettingfinanceforcompanies inthe

ELECTRIC VEHICLE ECOSYSTEM IN INDIA

The electric vehicle (EV) ecosystem in India has experienced significant growth in recent years, driven by factors such as sustainability, cost savings, government subsidies, and OEM initiatives However, financing remains the key challenge for companies operating in this space, be it OEMs, individual buyers, fleet operators or charging infrastructure companies.

In this article, we will limit our exploration to the available options for financing of Electric vehicles in India for Electric 4W, 3W and 2W, including loans and leasing, and discuss the challenges and potential solutions for getting financing from the available sources

First it is important to have a simplified view of the EV customer profiles that need finance Broadly the EV customer profiles can be divided into Retail and Enterprise customers

FOUNDER AND MANAGING DIRECTOR MAGENTA MOBILITY

MR MAXSON LEWIS

Now coming to finance options, there are primarily the following options:

Loans: There are various sources of loans available in the market, including public sector loans, private sector loans, and loans from non-banking financial companies (NBFCs) Loans are a common financing option where the vehicle is recorded as an asset in the books of the borrower.

Public Sector Loans: Banks like SIDBI and SBI offer loans with attractive interest rates as part of government schemes promoting green financing However, the loan sanction process can be complex and time-consuming, with collateral requirements such as FD collateral, promoter guarantee, or corporate guarantee

Private Sector Loans: Banks like ICICI, HDFC, and IDFC operate in the private sector lending space, providing relatively easier loan sanction processes However, interest rates are usually higher, and loan approval depends on the company's profit position Collateral requirements are similar to public sector loans

NBFC Loans: Non-Banking Financial Companies (NBFCs) provide EV financing at higher interest rates compared to banks The loan application process is faster, and collateral is required Loan tenure typically ranges from 3 to 5 years

Challenges in India’s EV financing space

Currently financing electric 3W cargo vehicles can be challenging due to uncertainties surrounding the technology and the future vehicle performance As the EV industry is still in a nascent stage banks and NBFCs are sceptical about financing EV purchases resulting in higher interest rates and shorter loan tenures for the buyers Inclusion in the RBI’s Priority Sector Lending (PSL) mandate can facilitate easier access to financing at lower interest rates and longer tenures, addressing these challenges

Furthermore, due to a comparatively newer market, the correct productmarket fit is still evolving For instance, retail lending, aimed at financing EVs for individuals and institutions, has displayed sluggish market behaviour due to shrinking component supplies, lack of customer awareness, and the unknown risks associated with EV’s Reselling is also a significant concern for EVs, unlike internal combustion engine (ICE) vehicles Battery warranty periods, lack of trust in used vehicles, and the absence of proper systems create hesitation among customers and the lenders.

Emerging solutions

Currently financing electric 3W cargo vehicles can be challenging due to uncertainties surrounding the technology and the future vehicle performance As the EV industry is still in a nascent stage banks and NBFCs are sceptical about financing EV purchases resulting in higher interest rates and shorter loan tenures for the buyers Inclusion in the RBI’s Priority Sector Lending (PSL) mandate can facilitate easier access to financing at lower interest rates and longer tenures, addressing these challenges

Furthermore, due to a comparatively newer market, the correct productmarket fit is still evolving For instance, retail lending, aimed at financing EVs for individuals and institutions, has displayed sluggish market behaviour due to shrinking component supplies, lack of customer awareness, and the unknown risks associated with EV’s Reselling is also a significant concern for EVs, unlike internal combustion engine (ICE) vehicles Battery warranty periods, lack of trust in used vehicles, and the absence of proper systems create hesitation among customers and the lenders

Mr.Sandeep Chaturvedi Presently associated with Motovolt Mobility Pvt Ltd as Senior Manager – Purchase & NPD and having 10 years of Working Experience In sourcing , Purchase, procurement and New Product Development

He is a Mechanical Engineer & Post Graduated in Supply Chain along with Lean GB Six Sigma certification.

In Motovolt he is looking after overall supply chain strategy , sourcing , Purchase , product development along with Project management Earlier he worked with Hero Motors Ltd (Lectro Division ) and Trailer Manufacturing company.

ROLE OF SUPPLY CHAIN IN EV MARKET

Supply Chain plays important role in every business , as of now current EV market is completely depends on new technology and smooth supply chain operations As initial investment of E vehicle are on higher side and running prices are low To Increase the demand and to penetrate the market as like petrol vehicle we have to work it on to reduce the vehicle prices considering the overall supply chain process

Main Factors to reduce the prices of vehicle :-

Reduce Operation cost – Current market Is highly competitive there are more than 20+ Brands in market are selling EV , those will control the cost can grow their business exponentially in coming years and retailers also help them to boost sales

Buy material directly from manufacturers

Localization of product rather than buying from China

Increase efficiency of workforce

Effective Customer service- This is important part of every business , nowadays we are dealing with intelligent customers who’s well aware about the product , every customer has required assurance for after sales service 24*7 availability and SCM has to ensure proper and on time delivery .

Quality products- Supply chain job has to increase quality of product and product must be durable and reliable

Motovolt Currently top E bike manufacturer in India ,When We started this business in April 2020 our target is to penetrate the mass market and we are doing it but if we will see overall India E bike business including all E bike manufacturers then it is 0 05% as compare to India’s current population

Govt has to support ,create awareness and develop the infrastructure for E bike then market will increase from current 0 05% to approx 9% till 2030 Govt has to launch schemes or subsidies for MSME’s to build up the E bicycle electronic parts manufacturing unit on large scale which can fulfil the supply in India as well European market and it will effect overall supply chain and reduce the prices of E bike

MANAGER SUPPLY CHAIN & NPD

SENIOR

SANDEEP CHATURVEDI

Supply chains are everywhere. From the biggest company in the world to running your household. We all have supply chain experience even if we don’t know it”

Non-Banking Financial Companies (NBFCs) can play a significant role in accelerating the acceptance of Electric Vehicles (EVs) by offering green financing options Green financing refers to financial products that aim to promote environmentally sustainable projects, such as EV adoption

Here are some ways in which NBFCs can accelerate EV acceptance through green financing:

Providing low-interest rate loans: NBFCs can provide low-interest rate loans specifically for EV purchase or leasing This will encourage people to opt for EVs by making them more affordable. The loans can also come with flexible repayment options, making them more attractive to customers

Offering customized financing solutions: NBFCs can offer customized financing solutions that cater to the specific needs of EV buyers This can include financing options for battery replacement, charging infrastructure installation, and maintenance costs

Providing leasing options: Leasing options can be an attractive option for customers who are hesitant to purchase an EV outright NBFCs can offer leasing options that provide lower monthly payments compared to traditional car loans

Partnering with EV manufacturers and dealerships: NBFCs can partner with EV manufacturers and dealerships to offer attractive financing options for EV purchases This can help increase sales for both the manufacturers and the dealerships.

Offering incentives for EV adoption: NBFCs can offer incentives such as cashback, discounts, or other rewards for customers who opt for EV financing This will encourage more people to switch to EVs

Current Story

How NBFCs Can Accelerate The Electric Vehicle (EV) Acceptance By Green Financing?

Tata Capital: Tata Capital's Green Mobility Initiative is a green finance program aimed at supporting electric mobility solutions in India The program provides loans for purchasing electric two-wheelers threewheelers, and four-wheelers, as well as charging infrastructure

Mahindra Finance: Mahindra Finance's Electric Vehicle (EV) Loans provide financing for electric two-wheelers, three-wheelers, and cars The company also provides loans for setting up EV charging stations

Hero FinCorp: Hero FinCorp's Green Loan program is designed to finance the purchase of electric vehicles and charging infrastructure The program provides loans for electric two-wheelers, three-wheelers, and four-wheelers

Shriram City Union Finance: Shriram City Union Finance's Green Energy Financing program provides loans for electric two-wheelers, three-wheelers, and cars The program also provides loans for setting up EV charging infrastructure

TVS Credit: TVS Credit's EV financing program provides loans for purchasing electric two-wheelers and three-wheelers The program also provides loans for setting up EV charging infrastructure

By providing affordable and customized green financing solutions, NBFCs can help accelerate the adoption of EVs in India and contribute to the country's transition to a cleaner greener future.

Some examples of Indian NBFCs financing India's EV ecosystem:

Simulation tools have become increasingly important in optimizing the manufacturing process of electric vehicles (EVs) in India and around the world These tools allow manufacturers to create a virtual representation of the production process, which can then be analyzed and optimized before actual production takes place.

One major benefit of simulation tools is that they can help manufacturers identify and address potential problems before they occur For example, by simulating the assembly of an EV, manufacturers can identify any potential issues with the design or the manufacturing process itself. This can help them make adjustments before any physical parts are produced, which can save time and money in the long run

Simulation tools can also be used to optimize the efficiency of the manufacturing process. For example, they can help manufacturers determine the most efficient production line setup or the most effective use of materials This can lead to cost savings and a more sustainable manufacturing process overall

Some specific simulation tools that are commonly used in the EV industry include computer-aided design (CAD) software finite element analysis (FEA) software, and computational fluid dynamics (CFD) software These tools allow manufacturers to simulate various aspects of the production process, including the design of individual components, the assembly of the vehicle, and the testing of the finished product.

In addition to optimizing the manufacturing process, simulation tools can also be used to improve the performance and safety of EVs For example, they can be used to simulate crash tests or evaluate the thermal management system of a battery pack This can help ensure that EVs meet safety standards and perform as expected in a variety of conditions

There are several digital simulation software suppliers for EV manufacturing industry, some of which are:

Siemens Digital Industries Software: Siemens offers a range of simulation software solutions, including Simcenter, which can be used to simulate various aspects of EV manufacturing, such as aerodynamics, thermal management, and noise, vibration, and harshness (NVH)

ANSYS: ANSYS provides simulation software solutions for EV manufacturers, including solutions for battery design, motor and power electronics design, and thermal management

Altair Engineering: Altair offers simulation software solutions for EV manufacturers, including solutions for lightweighting, structural analysis, and crashworthiness

Technology nsight

w Are Digital Simulation Tools timizing The Electric Vehicle anufacturing Processes?

Dassault Systèmes: Dassault Systèmes offers a range of simulation software solutions, including CATIA, which can be used to simulate various aspects of EV manufacturing, such as vehicle design and assembly

PTC: PTC provides simulation software solutions for EV manufacturers, including solutions for optimizing battery performance, motor and power electronics design and thermal management.

These software solutions can help EV manufacturers optimize their manufacturing processes reduce costs and improve the performance and reliability of their vehicles

Uses of 3D CAD software in EV manufacturing process?

Three-dimensional computer-aided design (3D CAD) software plays a crucial role in the design and development of electric vehicles (EVs) It enables engineers and designers to create detailed and precise 3D models of the EVs, which can then be analyzed, tested, and optimized before they are manufactured

Some of the uses of 3D CAD software in the EV manufacturing process are:

Designing the Vehicle: 3D CAD software allows engineers and designers to create digital models of the EV, including its exterior and interior features, components, and systems They can also use the software to experiment with different designs materials and configurations

Simulating Performance: Using 3D CAD software, engineers can simulate the performance of the EV's powertrain, suspension, and other systems This allows them to identify potential issues, optimize the design, and improve the overall performance and efficiency of the vehicle

Testing for Safety: 3D CAD software can be used to simulate and test the safety features of an EV, such as crash tests and simulations This helps manufacturers ensure that the vehicle meets safety standards and regulations

Optimizing Manufacturing: 3D CAD software can also be used to optimize the manufacturing process of an EV The software can be used to create digital models of the manufacturing process, identify potential bottlenecks or issues, and optimize the process for efficiency and cost-effectiveness

Collaborating Across Teams: 3D CAD software can be used to facilitate collaboration and communication across different teams working on the EV Engineers, designers, and other stakeholders can work together on the same digital models and make changes in real-time, reducing errors and improving efficiency

Uses of CAM software in EV manufacturing process?

Computer-Aided Manufacturing (CAM) software is used in the manufacturing process of electric vehicles to automate and optimize production processes CAM software uses computer-based models to generate toolpaths for various machine tools such as CNC (Computer Numerical Control) machines, robots, and 3D printers, to produce complex parts and assemblies with high precision and efficiency. Here are some specific uses of CAM software in the EV manufacturing process:

Toolpath generation: CAM software generates toolpaths based on the 3D CAD model of the part or assembly to be manufactured These toolpaths define the movement of the cutting tools or other manufacturing equipment, such as lasers or water jets, to produce the required shape and features

Machining optimization: CAM software uses algorithms to optimize the machining process, including the selection of cutting tools, the path of the tool, and the speed of the tool By optimizing these parameters, CAM software can reduce machining time, minimize tool wear, and improve the quality of the finished part

Simulation and verification: CAM software can simulate the manufacturing process to identify potential errors, collisions, or other issues that may occur during production These simulations can help manufacturers identify and fix problems before they occur, reducing waste and increasing productivity

Nesting: CAM software can optimize the placement of parts on a sheet or block of raw material to minimize waste and reduce material costs This process is known as nesting, and it can significantly improve efficiency and reduce the environmental impact of the manufacturing process

Some examples of CAM software used in the EV manufacturing process include Autodesk PowerMill Siemens NX CAM Mastercam and OpenCAM

Uses of CAE software in EV manufacturing process

CAE (Computer-Aided Engineering) software is used in the EV manufacturing process for simulating and analyzing the behavior of EV components and systems under different conditions Here are some uses of CAE software in the EV manufacturing process:

Structural analysis: CAE software is used for structural analysis to ensure that the EV components and systems are strong enough to withstand the forces and loads they will experience during operation. The software can help identify weak points, optimize designs, and reduce the weight of components without compromising their strength

Thermal analysis: EVs generate a lot of heat, and CAE software is used for thermal analysis to ensure that the components and systems are designed to manage the heat generated. This includes analyzing the cooling system, thermal management of battery packs, and other heat-generating components

Crash analysis: CAE software is used to simulate crashes and evaluate the safety of the EV The software can help identify potential weak points and provide insights into how the vehicle will perform in different crash scenarios

Electromagnetic analysis: CAE software can help optimize the design of the EV's electrical systems, including motor and generator performance, electromagnetic interference, and electromagnetic compatibility.

Acoustic analysis: EVs should be quiet and have low noise levels CAE software can help analyze the acoustic behavior of components and systems to identify potential sources of noise and vibrations and optimize the design for lower noise levels

Some examples of CAE software used in the EV manufacturing process are ANSYS, Abaqus, COMSOL Multiphysics, and LS-DYNA

Uses of Product Lifecycle Management(PLM) in EV manufacturing?

Product Lifecycle Management (PLM) is a software system that helps manage the entire lifecycle of a product from its conception to its disposal In the context of EV manufacturing, PLM can be used to optimize the design, development, production, and maintenance of electric vehicles Here are some of the uses of PLM in EV manufacturing:

Design optimization: PLM software can help optimize the design of EV components such as batteries, motors, and power electronics by simulating their performance and identifying areas for improvement

Collaboration: PLM software enables cross-functional collaboration among designers, engineers, and suppliers, helping to reduce product development cycles and improve product quality

Bill of Materials (BOM) management: PLM software can help manage the BOM for EVs, which can be complex due to the large number of components involved This can help ensure that all the components are sourced and delivered on time, reducing production delays

Production optimization: 3PLM software can help optimize the production process for EVs by providing real-time data on inventory levels, production status, and quality issues.

Maintenance and service: PLM software can help manage the maintenance and service of EVs by tracking the status of the vehicle and its components and scheduling maintenance activities

Some of the popular PLM software providers in the market include Siemens PLM, Dassault Systemes, PTC, and Autodesk These software systems can help streamline the entire manufacturing process, from design to production, and contribute to the overall efficiency and sustainability of the EV manufacturing industry

Getting finance for EV manufacturing in India can be challenging due to several factors such as high capital expenditure requirements, lack of availability of skilled workforce, uncertainty of regulatory environment, and potential market competition However, there are several options available for financing EV manufacturing in India including:

Government subsidies and incentives: The Indian government has been offering various incentives and subsidies for EV manufacturing to promote the transition to cleaner mobility These include the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) scheme, which provides financial assistance to EV manufacturers for research and development, product design, and manufacturing

Private equity and venture capital: Private equity and venture capital firms can provide funding to EV manufacturers, especially in the start-up phase These firms are usually interested in investing in innovative and disruptive technologies that have the potential to transform the market

Bank loans: Banks and financial institutions can offer loans to EV manufacturers to finance their capital expenditure requirements These loans can be secured or unsecured, and the interest rate may vary based on the creditworthiness of the borrower

Export-Import (EXIM) bank loans: The Indian EXIM Bank provides loans to Indian companies engaged in the manufacture, supply, and export of goods and services EV manufacturers can apply for EXIM bank loans to finance their exports or imports of EV components

Corporate bonds: EV manufacturers can raise capital by issuing corporate bonds in the Indian market. These bonds can be secured or unsecured, and the interest rate may vary based on the creditworthiness of the issuer

Crowdfunding: Crowdfunding platforms can also be used to finance EV manufacturing in India These platforms allow individuals or organizations to contribute small amounts of money towards a project or venture

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Getting Finance For Electric Vehicle (EV) Manufacturing In India

There are several lenders in India that have provided financing to EV manufacturing companies Some examples include:

State Bank of India (SBI) - SBI has provided financing to companies such as Mahindra Electric and Hero Electric for their EV manufacturing operations

Yes Bank - Yes Bank has provided financing to several EV manufacturers in India, including Ampere Electric, Ather Energy, and Hero Electric

HDFC Bank - HDFC Bank has provided financing to companies such as Mahindra Electric and Tata Motors for their EV manufacturing projects

ICICI Bank - ICICI Bank has provided financing to several EV manufacturers in India including Ather Energy Mahindra Electric and Tata Motors

Axis Bank - Axis Bank has provided financing to companies such as Hero Electric and Mahindra Electric for their EV manufacturing operations.

Bajaj Finserv - Bajaj Finserv has provided financing to several EV manufacturers in India, including Ather Energy and Hero Electric

In conclusion, financing EV manufacturing in India can be challenging, but there are several options available to EV manufacturers to raise capital It is important for EV manufacturers to explore all available options and choose the one that best suits their financial requirements and business objectives

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