Green shoots visible in EV demand
Greenfuel Energy Solutions is specialising in energy solutions for sustainable mobility in the domestic market. The company’s Founder and Managing Director Akshay Kashyap intends for GreenFuel to become a leading player in the electric two- and three-wheeler space in the country. Excerpts from his interview with EPR:
Recent performance of EV sector in India
Overall the performance of electric vehicle (EV) sector in India is still very slow. The main market segments happen to be the low speed 2-wheelers and E-rickshaws still which are extremely low end and less engineered products. The total sales of high speed electric 2-wheelers from April to September stands at only 10,000 units however there are green shoots visible in the month of September. This tells as that consumer acceptance for EVs is still very low and the market is largely driven by very low end products. Cars make up a very miniscule market share of less than 1 percent. The EV story therefore will be largely driven by the 2-wheeler and 3-wheeler segment. I feel the traditional OEMs in India really need to step up and start offering a larger variety of EVs in all segments and spread more awareness. This has been lacking in India and is one of the reasons EV sales have still not broken through here.
This Delhi-based startup is making it easier and cheaper for e-rickshaw drivers to earn a livelihood
E-ChargeUp has set its sights on increasing the driver revenues and reducing the capex costs of operating a battery-run vehicle. It aims to induct 2.4 million drivers in its network.
While it may be hard to predict what the future holds, one thing is certain – its electric. Many countries are now moving towards all-electric transport infrastructure, with India having an electric vehicles (EV) policy as well. With EVs gaining popularity, charging infrastructure has become the most important aspect of the industry.
Clean Energy Start-up eChargeUp’s Battery Swapping Stations generate Higher Revenue Prospect for E-Rickshaw Drivers in India
The pandemic might have created a bigger loss in the majority of lives, but there was one thing which is gifted to humanity, the pleasure of a cleaner environment, the realization of taking the ecosystem for granted for years. And amongst this, there are a few businesses and business developers who live up to the expectation of not only contributing to the economy but also to the livelihood of a greater population. One such inspiration is Varun Goenka, the CEO and founder of eChargeUp Solutions, which is a platform for battery swapping. Machine Maker tracked the journey and evolution of such a great initiative towards a brighter greener future in a conversation with him and his outlook on Electric vehicle (EV) and its relevance in the three-wheeler vehicle segment.
A leading player in manufacturing, assembling and supplying automotive components for vehicles running on natural gas, the company, set up in 2006, has been a frontrunner in driving the CNG revolution in India. The company’s MD, Akshay Kashyap, 41, who had worked in the United States, saw the gap between quality and costs in India and started out with the aim of building high-quality components for CNG vehicles at competitive pricing. “Green mobility,” he says, “is an imperative and won’t be niche in the coming future. We will provide the most innovative, reliable and cost-optimised solutions for sustainable and green mobility.”
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Renewables Can Play A Strong Role In The Post-Covid World
Akshay Kashyap, Founder and Managing Director, GreenFuel Energy Solutions asserts that renewables can play an important role in the post-COVID world, as countries start focusing on energy security and self-reliance. In this interview, he shares his views on India’s potential in the electric two- and three-wheeler segment, boosting EV adoption in India and the impact of EV penetration on power demand. Excerpts:
Greenfuel Is Paving Path for Indigenous EV Energy Ecosystem in India
EV revolution has certainly gained traction in India for a cleaner environment and a better tomorrow. The transition from BS-4 regime to BS-6 regime announced recently is a major stride taken towards that goal. Still, there exists a huge gap between the international standard and what was being used in the Indian vehicle components in terms of quality, performance, and reliability because of a lack of awareness, education, and cost sensitiveness.
It needs visionary entrepreneurs to bridge this gap with innovative solutions and Akshay Kashyap, founder of Greenfuel Energy Solutions, is one such who is facilitating India’s transition to cleaner energy for a revolutionary EV regime in India. Machine Maker spoke to Akshay on his vision, Greenfuel’s solutions and India’s EV roadmap.
What are your key expectations you hope will be addressed in New Year?
Aspirations of solar industry are also rising in this New Year, as the year gone by was filled with many challenges which resulted into slowing down the speed of growth of the solar industry as compared to the previous years. Here’re some expectations of the industry stakeholders that they wish will be fulfilled in the coming year:
Electric Vehicle battery recycling presents a big opportunity
NEW INDIAN EXPRESS
Manufacturing of lithium-ion batteries is gaining momentum in the country, however, recycling remains an untapped area which could offer a bigger opportunity in the coming years if the government comes with a policy framework, says Akshay Kashyap, founder and managing director, GreenFuel Energy Solutions that manufactures battery packs for two-wheelers.
The lithium-ion battery is made up of scarce metals such as lithium, cobalt, nickel etc. and these are not easily available in nature, he said, adding, “The battery has a limited life span. It is difficult to dismantle it and get back its components again, which poses a major problem for the electric vehicle industry. The solution lies in its recycling and storage applications.”
E-ChargeUp opens battery swapping stations for e-3Ws in Delhi NCR
AUTO CAR PRO
E-ChargeUp Solutions has setup two battery-swapping stations in Delhi-NCR region for electric three-wheelers. Akshay Kashyap, founder of GreenFuel and Varun Goenka, founder of Atlanta Energy (E-ChargeUp Solutions) came together to solve the issue of EV charging. The company claims that their indigenously developed lithium-ion battery technology is more of a ‘Battery as a Service’ to e-rickshaws from their battery swapping stations.
Urban Mobility: Focus on last-mile solutions
The government of India kicked off the second phase of FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles) scheme from April this year. The plan is to set up 2700 charging stations at an outlay of Rs 10,000 crore. It includes the installation of public charging stations in grids of three square kilometers.
The FAME India program was introduced in fulfillment of pledges made at the 2015 Paris Agreement on Climate Change. The idea is to encourage electric and hybrid vehicle manufacturing.
The extension of FAME is a key next step in fulfilling the commitment to create and promote sustainable ecosystem for electric mobility.
BATTERY TECHNOLOGY IS CHANGING THROUGHOUT
What is GreenFuel Energy Solution’s plan to become a leading player in the electric two and three-wheeler space in India?
GreenFuel has developed a battery pack that is modular in nature and 48 Volt 2 kWh. There are different vehicles that require different kwh. For example, a scooter could need 2 kWh, but a three-wheeler could require up to 8 kWh. However, the beauty of our system is that one does not need to redesign the pack. We spent almost two years going through the battery performance in different conditions and built-in safeguards in our battery packs for extreme conditions. So, by doing this, we are very clear that we have one of the best engineered and most robust packs in India. We have applied for four patents on this pack. Thus, this makes us very confident that we have an offering in the two-wheeler and three-wheeler market that gives the best value proposition.
Tata Motors recognizes GreenFuel Energy Solutions as ‘Supplier of the Year’
GreenFuel Energy Solutions, Gurugram-based automotive component-maker, recently received the ‘Supplier of the Year’ award for 100% delivery of spare parts for TOC performance by Tata Motors at its Annual Vendor Meet in Delhi. Akshay Kashyap, Founder and MD, received the award. He was also a participant in a panel discussion on BS4 Supply Strategy after BS6 implementation.
The ‘TATA Motors Supplier of the Year’ award recognizes contributions and commitments of its most-valued partners and involves a rigorous selection process. The winner was chosen by a distinguished jury, comprising R Ramakrishnan, Avinash Gupta, Kailas Vispute, Sanjay Prasad and Deepak Sharma.
GreenFuel Energy Solutions receives supplier award by Tata Motors
AUTO CAR PRO
Gurgaon-based component maker GreenFuel Energy Solutions (GreenFuel) was awarded the 2019 Supplier of the Year for TOC performance by Tata Motors during its annual vendor meet in New Delhi. The award was received by Akshay Kashyap, founder and MD, GreenFuel Energy Solutions. He also participated in an panel discussion hosted by Tata Motors which focussed on BS4 supply strategy after BS6 implementation.
GreenFuel says it is a leading player in automotive CNG kits in India, and is the first company in the country to offer complete systems for low-floor CNG DTC buses, which has clocked over 25 billion km in operations. The company has always received Green (A) Rating from Tata Motors.
Commenting on the recognition Akshay Kashyap, said: “We are extremely proud to have delivered spare parts with best quality within the timeline required by our client. Being designated the Supplier of the Year means we have delivered on our ideals. I am truly obliged to have received for this recognition from Tata Motors.”
The Auto Industry Reacts To The Union Budget 2019
This is clear from the budget that the Government wants to move towards electric mobility solutions. The eye of government was pointed towards electric vehicles in budget 2019. There are lots of incentives that are promised for the Electric Vehicle industry in this budget. To know more on it: Click here
Here are some reactions of Industry experts on Union Budget 2019 :
Rajeev Singh, Partner, Deloitte India
“Slashing of Corporate tax from 30% to 25% for companies up to a turnover of 400 crore will help a large number of MSME players supplying components into the Auto industry as well as small dealers associated with the auto sector.”
Kavan Mukhtyar, Partner & Leader – Automotive, PwC India
The Indian automotive industry, reeling under the pressure of demand slowdown, was expecting some short-term measures for demand activation. However the Government has chosen to instead focus on structural changes that will benefit the automotive industry in the long-term.
Mr. Prayesh Jain, Executive Vice President
EV Focus: Prudent steps, more needs to be done. While the incentives provided (IT deduction for individuals on interest on loans taken for purchase of EV, lowering import duties on parts) in the budget for purchase of EVs along with FAME 2 measures would narrow down the cost difference between EVs and ICE vehicles, the key impediments for EV proliferation is the lack of charging infrastructure and availability of products with adequate charging range at affordable prices. We still believe that EV story in India is for the longer term.
Green Automotive Trends for a Sustainable Future
The automobile sector is rapidly increasing its market share worldwide in recent years. It is because of various business strategies by automobile manufacturers such as increased focus on small cars and fuel-efficient cars, with a low market price that is targeted to capture the maximum market. The automotive sector faces an unprecedented change with regard to the far-reaching effects it will have
on the industry and its users. Today’s economies are dramatically changing, triggered by development in emerging markets, the accelerated rise of new technologies, sustainability policies, and changing consumer preferences around ownership. Digitization, increasing automation, and new business models have revolutionized other industries, and automotive will be no exception.
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How the Electric Vehicle Space is Evolving in India: Akshay Kashyap, MD, GreenFuel Energy Solutions
With the rising pollution levels and fuel prices at an all time high, Indian consumers are increasingly looking at clean alternatives to traditional vehicles. This has led to giving the electric vehicle space the much needed push in the country. In order to further the cause, the Government of India recently notified the FAME II scheme with Rs 10,000-crore outlay to encourage adoption of electric and hybrid vehicles. Along the same lines, Mr Akshay Kashyap, Founder and Managing Director, GreenFuel Energy Solutions, talks to DataQuest about the current scenario of electric vehicles in India, some innovations in the field, and what GreenFuel has to offer in the segment.
The current Electric Vehicle space in India
The Indian Electric Vehicle (EV) space is going through a little shake up, post the FAME II policy unveiled by the government. It requires a lot of manufacturers to localize their components and then re-certify their vehicles. This requires time, effort and money from the manufacturers if they wish to avail subsidy. So we will see short term pain in some sectors but in the long run it can be good for the industry. What continues to be strong is the E-rickshaw segment which has clear ROI’s for the customer. However we should see more robust and better engineered products in this sector as well. Overall the industry is not growing at the pace as it should because of new business models and product segments that OEM’s will have to think off.
Emerging tech job trends: Start-ups hunt for people with right skills, attitudes
ZEE BUSINESS INDIA
Emerging tech job trends: Even as start-ups are embracing new technologies, it is often difficult to find the right talents, with the right skills and attitude, who can cope up with new technological changes. Right talents help technology-based start-ups grow from strength to strength. Trained professionals are required in the area of emerging technologies such as blockchain, artificial intelligence, and green technologies as these are highly-skilled areas. Bitcoin was built with blockchain technology and later it got the attention of techies.
Electric vehicles: who will bell the cat first?
Greenfuel Energy Solutions promoter Akshay Kashyap, an advisory committee member of the Automotive Research Association of India (ARAI) for CNG application, and a member of the Automotive Component Manufacturers Association of India – Sustainable Technology Development Committee shares his perspective on green vehicles with domain-b’s Nithin Rao
GreenFuel Wins Award as Make in India Emerging Entrepreneur in 2018
GreenFuel was recently felicitated at the recently held Make in India Emerging Entrepreneurs Summit and Awards 2018 with an award in the Automobiles category. Akshay Kashyap, Founder and MD, was there to receive the award as handed out by the Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, Mr Dharmendra Pradhan.
These awards are an effort to recognize rising ‘Make in India’ stars in the field of manufacturing. The winners were identified after a three month long intensive survey and were then shortlisted by an expert jury namely Uday Kotak, Aroon Purie, Manish Sabharwal, Hamitab Kant and Sanjay Nair. Greenfuel specializes in product solutions for sustainable mobility. These solutions are based on their expertise in handling high pressure gaseous fuels, as well as ventures into exciting new areas of energy storage (batteries) and electromobility (battery-operated vehicles), all of which helped to bring the company out on top.
GreenFuel Wins Award as Make in India Emerging Entrepreneur in 2018
These awards are an effort to recognize rising ‘Make in India’ stars in the field of manufacturing. The winners were identified after a three month long intensive survey and were then shortlisted by an expert jury namely Uday Kotak, Aroon Purie, Manish Sabharwal, Hamitab Kant and Sanjay Nair.
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