In the last few years, there has been a huge growth in the production of Lithium ion batteries in India. We are now producing close to 0.1 Mn units of batteries per year catering primarily to two and three wheelers, says Samrath Kochar, Founder & CEO, Trontek.
How is the EV equipment market growth in India? What are the latest trends in this segment?
The primary equipment required for EVs is the Lithium ion battery which also accounts for almost 50 per cent of the vehicle’s cost. In the last few years, there has been a huge growth in the production of Lithium ion batteries in India. We are now producing close to 0.1 Mn units of batteries per year catering primarily to two and three wheelers. Encouraged by the growth a lot of new companies are also jumping into production of lithium ion batteries. With many automobile companies firming up EV plans, very soon we will see EV equipment infrastructure capability development in India.
Lack of private parking spaces is a huge challenge. Currently, the country has 1,800 charging stations as of March 2021 but the demand for EV is humongous. What are your thoughts?
That is a big challenge. We have to aggressively meet the challenge from EV charging stations. At present, this infrastructure is almost negligible considering the growth of EVs in the country, especially two and three wheelers. As four wheelers join the bandwagon, this demand and the scarcity will intensify. The next few years are crucial. The government has to step in and incentivise private players to set up charging infrastructure in the country. At 1,800 charging stations, we are already grossly underserved at today’s EV levels. We have to work on this on a war footing otherwise the problem will be staring at our face once more EVs -2,3 and 4 wheelers land on our roads.
What are the latest trends in the charging and battery segment? What latest technology advancements and innovations do you see?
The battery space is constantly evolving. At present there is a lot of research going on to make Lithium ion batteries more energy efficient and safe. We have an R&D team that is constantly conducting extensive research in this direction and on the latest requirements in this area and how to develop new solutions in the EV space.
At the same time, many companies are doing research and developing new products in the charging area and on how to augment the charging infrastructure and spread it adequately across the country.
We are also talking to new housing colonies to set up charging stations in housing clusters to start a systematic spread of charging stations. We also need companies to set up stations in cities and highways to develop a model that is similar to petrol stations which is a proven model of serving fossil fuel based vehicles. We have to replicate that model for EV charging stations.
Please tell us about your latest EV product range and future development in this space.
We have a range of products for EVs which includes, Lithium ion e-rickshaw batteries and E-bike batteries, Lithium ion solar street lights, Lithium ion phosphate storage batteries, Lithium ion batteries for electrical material handling (MHE), Electric vehicle supply equipment and EV chargers. We currently have a range of about 10 EV charging solutions catering to different classes of EVs. Our R&D team is also looking at new solutions in this space.
Our extensive product line of chargers covers multiple applications across various verticals. They come with a hermetic and durable seal structure to provide a hassle-free charging experience. All our units are pre-tested for their efficiency, stability, reliability and protection.
Please tell us about your partnership with EV companies?
We have tie ups for supply of lithium ion batteries with almost the entire ecosystem of three wheeler EVs. We are also supplying lithium ion batteries to two wheeler EVs. We are also exploring tie ups in the charging infrastructure space as we have a bouquet of products in this area.
How do you foresee the demand for EV batteries picking up in India?
Demand for EV batteries in on an upward swing and will increase exponentially in the coming years as more companies look at EV solutions. India is looking to change its profile from a fossil fuel consuming nation to one that uses renewable energies. This will open up possibilities of companies that are supplying equipment to EV companies. We are merely seeing the beginning. The real game is yet to begin.