Know Your EV

Electric Vehicles: The Data-Driven Revolution in Mobility and Infrastructure The electric vehicle (EV) industry is rapidly transforming from traditional vehicle manufacturing to becoming a cornerstone of the data economy. EV manufacturers, both in India and globally, are leveraging vast amounts of data generated by their vehicles to enhance battery performance, optimize charging station networks, and improve road infrastructure. This article delves into how data is reshaping the EV landscape and how EV Manufacturers are using the data for the broader implications for related industries. The Core of EVs: Motors, Batteries, and Data At the heart of every electric vehicle lies the motor and battery system. Unlike conventional internal combustion engines, these components’ performance is highly sensitive to various factors such as road conditions, temperature, and driving habits. Integrated IoT devices continuously monitor and transmit data on these variables, creating a dynamic feedback loop that allows for real-time optimization and long-term improvements. Real-Time Data Collection EVs are equipped with a myriad of sensors and IoT devices that collect data on: This data is then processed and analyzed to provide insights into how these factors interplay and affect overall vehicle performance. Enhancing Battery Performance Battery technology is the lifeblood of electric vehicles, and data plays a crucial role in its advancement. EV manufacturers use data analytics to: Expanding Charging Infrastructure One of the significant challenges for the EV industry is the development of a comprehensive and efficient charging infrastructure. Data from electric vehicles is pivotal in addressing this challenge: Impact on Road Infrastructure The data collected by electric vehicles also offers significant benefits for road infrastructure planning and maintenance: Case Studies: How EV Manufacturers are using Data Points Tata Motors🔺Battery Performance: Tata Motors uses data analytics to track battery performance across different regions. For instance, their data shows that in metropolitan areas like Mumbai and Delhi, battery efficiency can vary by up to 15% due to traffic conditions and temperature fluctuations. 🔺Fleet Management: Tata’s EV fleet management systems utilize real-time data to optimize routes and reduce energy consumption. Data has shown a reduction in energy usage by 12% on average across their commercial EV fleet. Mahindra Electric🔺Telematics and Predictive Maintenance: Mahindra Electric’s telematics system monitors over 150 data points per vehicle, predicting maintenance needs before issues arise. This proactive approach has led to a 20% reduction in unplanned maintenance and a 10% increase in vehicle uptime. 🔺Consumer Insights: By analyzing driving patterns and usage data, Mahindra has tailored its EV offerings to better suit Indian consumers, leading to a 25% increase in customer satisfaction scores. Tesla🔺Autopilot System: Tesla’s Autopilot collects data from over a million vehicles worldwide, processing billions of miles of driving data. This extensive dataset has allowed Tesla to improve its self-driving algorithms, reducing accidents by approximately 40% when Autopilot is engaged. 🔺Battery Management: Tesla uses real-time data to manage its battery packs, adjusting parameters for optimal performance and longevity. Their data indicates a 10% improvement in battery life due to these optimizations. Nissan🔺Charging Pattern Analysis: Nissan has gathered data from over 500,000 Leaf vehicles globally. This data has revealed that urban users charge their vehicles 25% more frequently than rural users, influencing Nissan’s strategy to develop more urban charging stations. 🔺Vehicle-to-Grid (V2G) Integration: Nissan’s V2G systems leverage data to allow EVs to supply power back to the grid. Data from pilot projects in Denmark and the UK show that V2G can reduce peak electricity demand by up to 10%, highlighting its potential in smart grid applications. Conclusion The transition from traditional vehicle manufacturing to data-driven mobility solutions marks a significant shift in the automotive industry. Electric vehicle manufacturers are not just producing vehicles; they are generating and utilizing vast amounts of data that drive innovation in battery technology, charging infrastructure, and road maintenance. This data-centric approach is paving the way for a smarter, more efficient, and sustainable future in transportation. As the EV industry continues to grow, the synergy between data and technology will only become more pronounced, offering new opportunities and challenges for manufacturers, infrastructure providers, and policymakers alike. The journey has just begun, and the road ahead promises to be as electrifying as the vehicles that traverse it.

A Comprehensive Growth Analysis of Zypp Electric Zypp Electric, a leading last-mile delivery fleet management company, jumped into the EV-based ecosystem when electric vehicles were not the talk of the town. In 2017, Akash Gupta and Rashi Agarwal started the electric scooter provider business with the aim to help India embrace sustainable mobility and curb pollution. Vision and Mission ✅ Vision: To reduce the problem of pollution & climate change with sustainability at the core, solving the last mile first in India and then extending the EV-as-a-Service solution to the world.les (EVs) and extending this solution globally. List your business on All India EV exclusive business directory… (click here) ✅ Mission: They are on a mission of zero-emission where we wish to accelerate last-mile delivery to go 100% sustainable with EVs by 2028 while making it efficient, affordable, intelligent, and reliable. Services ✅ Zypp Electric offers electric scooters and three-wheelers for last-mile delivery and rental services. (You can now subscribe to our All India EV WhatsApp channel) ✅ Their services include micromobility for all, dedicated EV deliveries, and three-wheeler cargo vehicles. Impact and Reach ✅ Deployed over 20,000 e-scooters across India. ✅ Facilitated over 45 million shipment deliveries via electric vehicles, reducing 29 million kilograms of carbon emissions. Current Presence ✅ Cities: Operating in six cities including Delhi NCR and Bangalore. ✅ Fleet Size: Over 20,000 vehicles enabling 3.5 million+ deliveries monthly. ✅ Riders: Approximately 19,000+ active riders. Expansion Plan ✅ Fleet Growth: Adding 100,000 vehicles within the next 18 months, targeting 200,000 vehicles by 2026. Diversify into the three-wheeler cargo business. Funding Zypp Electric Investors ✅ 100Unicorn ✅ Anthill Venture ✅ Nanavati Family Office ✅ Riso Capital ✅ Ventures Catalysts ✅ Tarun Saraf ✅ Arjun Seth ✅ Lets Ventures ✅ Goodyear Ventures ✅ Ivy Growth Associates ✅ We Founder Circle ✅ Dholakiya Ventures ✅ IAN Fund Join our LinkedIn Community ✅ Rahul Khera ✅ Mark Joseph ✅ Northen Arc ✅ Gogoro ✅ Indian Angel Network ✅ Grip Invest Investments by Zypp Electric Zypp Electric has invested in TSAW on May 25, 2022 . This investment – Seed Round – TSAW – was valued at. ₹25M. Growth Metrics ✅ Achieved a threefold increase in revenue in FY24 (396% CAGR compared to previous years). ✅ Fleet Expansion: Current: 20,000+ vehicles; Target by 2026: 200,000 vehicles ✅ Revenue Growth: FY21: Rs 25 crore; FY23: Rs 125 crore (5x increase) ✅ Rider Growth: Current: 19,000+ rides. Growth Drivers ✅ Partnerships: Collaborations with Blue Dart, Ecom Express, DTDC, Zomato, Swiggy, Gogoro, and Lectrix. ✅ Sustainability: Significant emission reductions; 2,000+ gig workers employed monthly. ✅ Technology: AI/ML, IoT, advanced analytics, full-stack SaaS platform for real-time optimization. Click here for more such informative insights ✅ Urban Logistics: Growing demand for last-mile delivery; expanding to new cities like Hyderabad, Pune, and Chennai. Growth Challenges: ✅ Infrastructure: Need for extensive charging and battery-swapping networks; high initial costs. ✅ Competition: Rising competition from other EV and logistic service providers. ✅ Regulations: Navigating regulatory changes and compliance requirements. ✅ Financial Sustainability: Ensuring funding for rapid expansion while maintaining profitability. Growth Opportunities ✅ Fleet and Market Expansion: Targeting 100,000 additional vehicles in 18 months; expanding to new cities. ✅ Battery-Swapping: Scaling up stations; improving battery technology. ✅ Technological Advancements: Integrating advanced AI/ML and IoT solutions; developing new features. ✅ Sustainability Initiatives: Reducing carbon emissions; participating in clean energy initiatives. ✅ Partnerships: New collaborations with technology providers and logistic companies; supporting early-stage startups through the EVolve Innovation Challenge. ✅ Their partners like Amazon, Zomato, Uber, Rapido, Messo, Blikit, Zepto, Uber, Shree Maruti, Haldiram, Pidge Igp, Swiggy, Bludart, Bigbasket, DHL, Delhivery, Flipkart, Licious, Porter, Rapido, Zomato, Swiggy etc. Conclusion By focusing on these growth metrics, drivers, challenges, and opportunities, along with a solid current presence and ambitious expansion plan, Zypp Electric is well-positioned to lead the transformation of India’s last-mile mobility sector with sustainable and technologically advanced solutions.

How to Increase the Battery Life of Your EV: A DIY Guide Electric vehicles are becoming increasingly popular due to their eco-friendliness and cost savings. However, the battery is the heart of any EV, and maximizing its lifespan is key to maintaining the vehicle’s performance and reducing costs. This guide provides practical, easy-to-follow tips for EV owners to extend their battery life. Here are some tips for you to increase your EV Battery Life… Minimize Exposure to Extreme Temperatures Extreme temperatures, both hot and cold, can significantly affect the battery’s performance and lifespan. ▶️ Hot WeatherPark in the Shade: Parking in a shaded area reduces the battery’s exposure to heat.Use a Garage: Whenever possible, use a garage to keep your EV coolPlug-In: If you have to park in a hot area, plug in your EV. This allows the thermal management system to operate without draining the battery. ▶️ Cold WeatherPrecondition Your Car: While it is still plugged in, precondition it to warm up the battery. This helps maintain efficiency and reduces stress on the battery. Maintain Optimal Charging Levels Keeping your battery charge between 20% and 80% can significantly prolong its life. ▶️ Daily UseAvoid 100% Charge: Charging to 100% is generally unnecessary for daily use and can stress the battery.Charge to 80%: Aim to keep your battery charge around 80% for routine use. ▶️ Storage50% Charge for turn-off: If you plan to keep your EV turn-off or idle for an extended period, charge the battery to about 50% to avoid stress and degradation. Avoid Deep Discharges Allowing your battery to drop below 10% charge can cause long-term damage.Recharge at 20-30%: To maintain battery health, recharge your EV when the battery level is around 20-30%. Limit Fast Charging Frequent use of fast charging can degrade battery health over time.Use Sparingly: Reserve fast charging for situations where it’s essential, such as during long trips. Practice Smooth Driving Aggressive driving can lead to faster battery depletion.Smooth Acceleration: Accelerate smoothly and maintain a constant speed to conserve battery life and enhance overall efficiency. Utilize Regenerative Braking This feature helps recover energy during braking and extends the range.Use Regenerative Braking: Whenever possible, use regenerative braking to improve energy efficiency and battery longevity. Follow Manufacturer Guidelines Each EV model has specific guidelines for battery maintenance.Consult the Manual: Regularly check your owner’s manual for the best practices and ensure you are following the manufacturer’s recommendations for battery care. Stay Updated with the Software Manufacturers often release software updates to improve battery management and efficiency.Update Regularly: Ensure your EV is always running the latest software to benefit from improvements in battery management and efficiency. What Not to Do Certain practices can significantly harm your EV battery and should be avoided. ▶️ Don’t Frequently Use Fast ChargingReason: While convenient, fast charging can generate excessive heat, leading to battery degradation over time. ▶️ Don’t Let Your Battery Completely DischargeReason: Deep discharges can permanently damage the battery cells, reducing overall capacity. ▶️ Don’t Expose Your EV to Extreme Temperatures for Extended PeriodsReason: Prolonged exposure to very high or low temperatures can degrade battery materials and reduce performance. ▶️ Don’t Charge to 100% RegularlyReason: Constantly charging to full capacity can stress the battery, shortening its lifespan. ▶️ Don’t Ignore Manufacturer RecommendationsReason: Each EV model has specific maintenance needs and software updates that optimize battery health and performance. Conclusion Proper battery care is essential for maximizing the lifespan and performance of your electric vehicle. By following these simple DIY tips, you can ensure that your EV remains efficient, cost-effective, and environmentally friendly for years to come. Remember, adopting these practices not only benefits your vehicle but also contributes to a sustainable future. Happy driving!

BloombergNEF Electric Vehicle Outlook 2024: Key Insights and Future Trends The BloombergNEF Electric Vehicle Outlook 2024 report provides an in-depth analysis of the current state and future projections of the electric vehicle (EV) market. This comprehensive summary highlights key findings from the report, exploring global market trends, policy impacts, technological advancements, and regional adoption differences. By synthesizing these insights, this article aims to inform readers about the critical factors shaping the future of electric mobility and the challenges and opportunities that lie ahead. Summary of BloombergNEF Electric Vehicle Outlook 2024 1. Global EV Market Overview The 2024 outlook reveals varying paces of electric vehicle (EV) market growth worldwide. While global EV sales continue to rise, some markets are experiencing slowdowns. Developing economies, such as Thailand, India, Turkey, and Brazil, are seeing record sales due to low-cost models. Chinese automakers are expanding rapidly into new markets, driven by the need to find new buyers. Geopolitical tensions and protectionist measures, such as tariffs and efforts to onshore manufacturing, are impacting the pace of global EV adoption. 2. Policy and Market Dynamics Policy support for EVs has become less certain, with several European countries reducing subsidies earlier than planned. This has led to a slowdown in sales and prompted calls to relax both near-term CO2 targets and the long-term plan to phase out internal combustion vehicles. In the US, progress will hinge on the outcome of the presidential election, while China remains a leader, having reached a point of consumer-driven EV sales growth. The report highlights the importance of long-term goals to achieve net-zero emissions in road transport. 3. Technological Advancements and Cost Trends Advances in battery technology have driven down costs significantly, with prices dropping by 90% over the past decade. This trend is expected to continue, benefiting automakers and buyers but posing challenges for new entrants to the battery industry. Several next-generation battery technologies are nearing commercialization, promising further improvements in efficiency and cost. The introduction of lower-cost EV models is expected to drive increased adoption in the coming years. 4. Commercial Vehicles and Buses The commercial vehicle segment, including vans, trucks, and buses, is rapidly electrifying, particularly in China, South Korea, and Europe. Electric heavy trucks are expected to become economically viable for most use cases by 2030. Municipal buses are on track to exceed 60% electrification by that year, with electric light-duty delivery vans and trucks also seeing significant growth. The adoption of zero-emission powertrains is driven by both economic viability and new environmental policies. 5. Global Passenger Vehicle Outlook Despite a slowdown in growth rates, global passenger EV sales are expected to rise from 13.9 million in 2023 to over 30 million in 2027. By 2030, EVs are projected to account for 45% of global passenger vehicle sales. However, less than 50% of the global passenger-vehicle fleet is expected to be electric by 2040. The disparity in adoption rates between different regions underscores the need for continued policy support and technological advancement. 6. Impact on Oil and Electricity Demand The increase in EVs and fuel-cell vehicles will displace significant oil demand, with road fuel demand peaking by 2027. By 2050, a fully electric global fleet could consume twice the amount of electricity the US did in 2023. This shift requires substantial investment in charging infrastructure and grid upgrades to accommodate the increased demand. Smart charging and variable pricing mechanisms will be essential to manage this demand effectively. 7. Battery Supply Chain and Material Demand Large investments are needed across the battery supply chain. Annual lithium-battery demand is expected to reach 5.9 terawatt-hours by 2035. Over-investment in battery-cell manufacturing capacity is a concern, particularly in China, where planned capacity far exceeds demand. Recycling and new extraction technologies will be crucial to meet future material needs sustainably. The shift towards lithium-iron-phosphate (LFP) batteries is reducing the demand for metals like nickel and manganese. 8. Regional Adoption and Market Differences The EV adoption trajectory varies by region, with China and Europe leading the way. Emerging economies like Brazil and India are set to experience significant growth. However, regions like Southeast Asia, India, and Brazil will still be below the global average adoption by 2040 without stronger regulatory pushes. The report emphasizes the need for a stronger regulatory push in these regions to bridge the gap with more developed EV markets. 9. Technological Innovations and Competitive Pricing Lithium-iron-phosphate (LFP) batteries are gaining market share due to improvements in technology and competitive pricing, reducing the demand for metals like nickel and manganese. China’s dominance in low-cost battery production is driving global price reductions, posing challenges for international markets to compete. The report discusses the impact of China’s low-cost battery push on the global market and highlights the benefits and challenges associated with this trend. 10. Future Outlook and Scenarios BloombergNEF provides two scenarios for the future of road transport: the Economic Transition Scenario and the Net Zero Scenario. The former describes expected trends based on current technological and economic conditions, while the latter outlines a path to achieving a zero-emission global road fleet by 2050. Both scenarios emphasize the need for sustained policy support and technological innovation to achieve long-term climate goals. The Economic Transition Scenario projects significant growth in EV sales, while the Net Zero Scenario requires more aggressive policy interventions to achieve a completely zero-emission vehicle fleet by 2050. 11. Electrification of Two- and Three-Wheeled Vehicles Electrification is advancing rapidly in the two- and three-wheeled vehicle segments, particularly in emerging economies. Electric two-wheelers are set to reach 90% of global sales by 2040, while three-wheelers are already on track to achieve a zero-emission fleet by 2050. These segments are crucial for reducing emissions in densely populated urban areas where such vehicles are predominantly used. 12. Shared Mobility and Connectivity Shared mobility solutions, vehicle connectivity, and autonomous driving technologies are expected to reshape automotive and freight markets. These innovations will complement the electrification of transport, offering additional benefits such as reduced traffic congestion and lower emissions. 13. Plug-In Hybrid Vehicles (PHEVs)

Top EV Battery Shares in India 2024 Part 2: EV Battery Chemical Manufacturers Note: we are not changing any information and all the information is copied from Equitymaster The EV revolution is sparking a paradigm shift within the chemical industry. EV chemical players are actively developing and manufacturing critical components like cathode materials, electrolytes, and separators. This targeted approach allows them to optimize performance and efficiency, crucial factors for success in the EV battery space. 1 Neogen Chemicals Neogen Chemicals has solidified its position as a leading manufacturer of bromine and lithium-based speciality chemicals. Over the past three decades, the company has been the primary importer of lithium carbonate and lithium hydroxide, fostering strong relationships with top lithium miners and processors globally. While Neogen doesn’t directly produce EV batteries, it serves as a key supplier of raw materials, including electrolyte and lithium electrolyte salts. Neogen Chemicals Financial Snapshot (2019-23) 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 Revenue Growth(%) 48.05% 27.82% 9.90% 45.10% 41.43% Operating Profit Margin (%) 17.19% 16.73% 16.9% 17.99% 1692% Net Profit Margin (%) 8.20% 8.24% 7.82% 9.16% 7.28% Return on Capital Employed (%) 25.52% 21.93% 16.75% 14.33% 13.25% Return on Equity (%) 34.73% 18.47% 18.47% 14.34% 10.84% Source: Ace Equity The business has performed admirably. Between 2018 2023, the sales and net profit have reported a 5-year CAGR of 33.6% and 35.3%, respectively. The RoCE and RoE have been strong, averaging at over 18.4% and 20.7%, respectively, over the same period. In a strategic move, Neogen is expanding its operations with plans to increase electrolyte production capacity to 30,000 KTPA from the previous 10,000 KTPA. Additionally, it aims to ramp up lithium salt capacity units from 1,000 TPA to 4,000 TPA. The company foresees securing orders from three to four battery manufacturers in 2024, with capacities ranging from 0.5 GW to 1 GW, anticipating substantial demand. To know more about the company, check out its financial factsheet and latest financial results. 2 Uno Minda Uno Minda, a leading Indian automotive technology company, has been a key player in the traditional vehicle (4Ws, 2Ws and PV) space for over six decades. The company is renowned for its expertise in various automotive components, including switching systems, lighting systems, acoustics systems, seating systems, and alloy wheels. The company, recognizing the burgeoning EV market, has made a strategic move to become a significant player in the EV battery ecosystem. The company supplies seating products and other products to EV OEMs. Additionally, it is actively developing and manufacturing critical EV components like battery management systems (BMS) and canisters. BMS plays a crucial role in optimizing battery performance, safety, and lifespan, making it a vital component in any EV. Canisters provides a secure and reliable housing solution for battery packs. Uno Minda Financial Snapshot (2019-23) 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 Revenue Growth(%) 31.78% 5.52% 2.53% 30.45% 34.74% Operating Profit Margin(%) 12.73% 11.45% 12.11% 11.37% 11.46% Net Profit Margin (%) 5.43% 2.81% 3.52% 4.95% 6.21% Return on Capital Employed (%) 21.62% 11.55% 12.52% 16.44% 19.88% Return on Equity (%) 20.74% 9.82% 10.90% 14.57% 18.55% Source: Ace Equity Between 2018-2023, the sales and net profit have grown at a CAGR of 20.2% and 17.8%, respectively. The RoCE and RE have averaged at 16.4% and 14.9%, respectively. Looking ahead, Uno Minda is setting up a greenfield plant at Farrukhnagar Haryana, to cater to the anticipated demand for EV components. To know more about the company, check out its financial factsheet and latest financial results. 3 Tata Chemical Tata Chemicals, a longstanding name in India’s chemical sector, is undergoing a metamorphosis. The company’s dominance in traditional chemicals like soda ash and fertilizers is undisputed. Soda ash is used to manufacture lithium carbonate, a key active material used in the manufacturing of EV batteries. The company expects the share of newer sustainable application segments of Soda Ash (EV battery, solar power etc) to increase from about 11% in 2022 to over20% by 2030. Apart from this, the company is actively investing in building a robust EV battery ecosystem and establishing a dedicated Battery Pack Engineering Centre. But its ambitions extend further, with plans for manufacturing plants encompassing active materials, cells and complete battery packs. Tata Chemicals has launched a pilot project for lithium-ion battery recycling, promoting a circular economy and ensuring a steady supply of raw materials. Moreover, the company has collaborated with ISRO, to leverage ISRO’s expertise in space-grade lithium-ion cell technology. Tata Chemical Financial Snapshot (2019-23)  2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 Revenue Growth(%) 2.98% -0.89% -2.19% 23.45% 32.02% Operating Profit Margin(%) 20.97% 20.37% 15.73% 1917% 22.85% Net Profit Margin (%) 11.05% 9.27% 3.95% 10.48% 13.87% Return on Capital Employed (%) 1013% 8.18% 4.84% 8.57% 12.37% Return on Equity (%) 9.92% 8.15% 3.21% 8.60% 12.91% Source: Ace Equity Between 2018-2023, the company’s primary business registered a sales and net profit CAGR of 10.2% and 9.4%, respectively. The RoCE and RoE have been improving at 12.4% and 12.9% in the financial year 2023. To know more about the company, check out its financial factsheet and latest financial results. 4 Gujarat Fluorochemicals Gujarat Fluorochemicals, among the top five global players in the fluoropolymer market, is renowned for its fluoropolymers. These unique polymers are capable of enduring harsh acids, solvents and bases, while providing excellent electrical insulation essential for high-voltage applications. Originally utilized in refrigeration, non-stick cookware and chemicals, fluoropolymers are highly sought-after across diverse sectors, including semiconductors, Li-ion batteries, 5G data, automotive components, aircraft, and the emerging green hydrogen sector. The company has already made inroads into the EV battery business through its subsidiary, GCFL. GCFL’s EV products offer a diverse portfolio catering to the EV/ESS ecosystem. Current offerings include electrolyte salts, additives, cathode active materials, and specialized solutions for sodium-ion batteries. This product range addresses a significant portion, around 40%, of the cost of an LFP battery, a popular EV battery type. Gujarat Fluorochemicals Financial Snapshot (2019-23)  2019-2020 2020-2021 2021-2022 2022-2023 Revenue Growth(%)  -0.26% 46.73% 45.94% Operating Profit Margin(%) 24.97% 30.17% 33.65% 38.20% Net Profit Margin (%) 7.57% -9.01% 20.25% 24.07% Return on Capital Employed (%) 15.82% 11.18% 20.59% 30.38% Return on Equity (%)

Top EV Battery Shares in India 2024 PART 1: EV Battery and Component Manufacturers Note: we are not changing any information and all the information is copied from Equitymaster India is revving up for a clean energy revolution, with electric vehicles (EVs) leading the charge. According to Bain and Company, EVs made up around 5% of total vehicle sales from October 2022 to September 2023. They could skyrocket to over 40% by 2030, with significant adoption (45%+) in both two-wheelers (2W) and three-wheelers (3W). This momentum rides on several factors. First, billions of dollars are being invested in research, manufacturing facilities, and charging infrastructure, paving the way for a robust EV ecosystem. Second, government initiatives like FAME schemes offer attractive subsidies and incentives, accelerating EV adoption by both manufacturers and consumers. Unlike their gasoline-guzzling counterparts, EVs rely on a different kind of engine – the lithium-ion battery. These batteries, which currently account for 40-50% of an EV’s total cost, are predominantly imported from China, the world’s leading producer. However, this trend is shifting gears. Recognizing the immense potential of the EV battery market, several Indian manufacturers are hitting the gas pedal to build domestic production facilities. They’re all vying for a sizeable share of the Rs 180 billion (bn) opportunity, aiming to become the key players powering India’s clean mobility future. Therefore, with this in mind, let’s break down the EV battery value chain. EV Battery and Component Manufacturers These businesses have shifted their focus to meet the demands of the EV sector to capture a significant share of this rapidly growing market. Historically, this market has been dominated by two prominent leaders in the field: Amara Raja and Exide. Even now, these companies continue to play a significant role in shaping the landscape of the EV battery market. 1. Exide Industries First on our list is Exide Industries. The 75-year-old plus institution is the largest lead-battery manufacturer in India, offering a wide range of products to the automotive and industrial sectors. It caters to some of the top OEMs (original equipment manufacturer) in the country. Exide enjoys a strong presence across the entire automotive value chain. In addition, the company boasts a robust export division, serving over 60 countries, including the GCC nations, the USA, and Canada. It has partnered with a leading global provider of premium energy storage solutions to manufacture lithium-ion batteries for India’s burgeoning EV market. It has also established partnerships with major automotive players to provide it with a competitive advantage. Exide Industries Financial Snapshot (2019-23) 2018-19 2019-20 2020-21 2021-22 2022-23 Revenue Growth % 14.60% -1.50% -28.50% 23.30% 18.30% Operating Profit Margin % 10.88% 10.50% 13.79% 11.46% 11.39% Net Profit Margin % 5.76% 5.27% 7.08% 5.43% 5.46% Return on Capital Employed % 23.38% 16.96% 14.84% 11.26% 10.96% Return on Equity % 14.69% 12.13% 10.68% 7.79% 7.58% Source: ACE Equity Between 2018-2023, the sales and net profits have not grown much, reporting a CAGR of 3.3% and 3.5%. The bleak growth has affected the return on equity. Over the years, it has fallen from 14.7% in 2018 to 7.5% in the financial year 2023. In the near term, Exide’s growth will be driven by a combination of innovative product launches, domestic market expansion, a focus on international exports, and continued support for their channel partners to enhance customer experience. To know more about the company, check out its financial factsheet and latest financial results. 2 Amara Raja Amara Raja is the second biggest player in the lead-battery space in India. It enjoys a widespread network, catering to the automotive and industrial segments with its Amaron brand of lead batteries. The company is positioning itself to benefit from the growing EV market in the country. Back in 2021, the company had set up a technology hub to develop lithium-ion batteries, at its Tirupati facility in Andhra Pradesh. In 2023, the company has entered into an MoU with the government of Telangana for setting up the lithium-ion (Li-ion) battery gigafactory. This facility will boast a cell manufacturing capacity of up to 16 gigawatt hours (GWh) and the assembly capacity will be up to 5 GWh. The company is planning to invest around Rs 95 bn over the next 10 years. Amara Raja Financial Snapshot (2019-23) 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 Revenue Growth % 0.78% 4.98% 21.26% 19.43% Operating Profit Margin % 14.70% 9.66% 16.86% 12.27% 13.39% Net Profit Margin % 7.11% 22.25% 9.05% 5.71% 6.44% Return on Capital Employed 21.72% 24.04% 22.5% 16.01% 19.60% Return on Equity % 14.49% 18.91% 16.45% 11.70% 14.10% Source: ACE Equity Between 2020-2023, Amara Raja has enjoyed a smooth road to profitability. The company’s sales have grown at a 3-year CAGR of 11.2%, while the net profit at 9.5%. The RoCE and RoE has been strong, averaging 20.7% and 15.1% over four years. To know more about the company, check out its financial factsheet and latest financial results. 3 Kabra Extrusion Technik Kabra Extrusion Technik is India’s largest manufacturer of plastic extrusion machines, with a market share of over 40%. In 2021, Kabra (KET) recognized the potential of the lithium-ion battery market and strategically ventured into its manufacturing through its newly formed battery division, Battrixx. This strategic move is already paying off, with Battrixx contributing over half (52%) of the company’s revenue as of the first half of FY24, surpassing the legacy extrusion segment (47%). Despite holding a 15% market share in the battery market by December 2022, the company anticipates further growth, particularly in the lithium-ion battery sector, driven by its strong presence. Battrixx acquired Varos Technology in March 2022, a company specializing in IoT tools for EV infrastructure and battery management systems. Battrixx’s collaboration with OEMs and exploration of energy storage systems in the two and three-wheeler segments indicates promising growth prospects for the company in the EV industry. Kabra Extrusion Technik Financial Snapshot (2019-23) 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 Revenue Growth % -2.17% -15.82% 25.08% 46.31% 64.86% Operating Profit Margin % 16.56% 7.02% 15.79% 14.09% 11.53% Net Profit Margin % 9.98% 3.39% 8.89% 7.40% 5.60% Return on Capital Employed 13.54% 3.01% 12.24% 13.40% 14.99% Return on Equity % 10.21% 3.12% 9.63% 9.9% 10.53% Source: Ace

Growth Analysis of Volttic’s Journey in Revolutionizing India’s EV Infrastructure Volttic was founded in 2017 by Varun Chaturvedi, along with co-founders Shweta Chaturvedi and Surendra Singh They have since become a leading electric vehicle (EV) charging infrastructure developer in India, providing end-to-end EV charging solutions and services. Vision and Mission: Vision: Volttic envisions a future where electric mobility is accessible, sustainable, and convenient for everyone. They aim to contribute to a cleaner environment by promoting electric vehicles (EVs) and building a robust charging infrastructure. Mission: Volttic’s mission is to accelerate the adoption of EVs by providing reliable, efficient, and user-friendly charging solutions. They strive to create a seamless experience for EV owners, ensuring that charging stations are readily available across India. Services and Products: Charging Infrastructure: Volttic offers a comprehensive charging infrastructure network. Their services include the installation, maintenance, and management of charging stations at various locations, including homes, offices, and public spaces. 🔌 VOLTTIC DC Fast CCS2 & CHadeMo Chargers 🔌 VOLTTIC Bharat DC01 Fast EV Chargers Home Charging Solutions: Volttic provides residential charging solutions, allowing EV owners to charge their vehicles conveniently at home. These solutions are customizable based on individual requirements. 🔌 VOLTTIC AC Type 2 Charger 🔌 VOLTTIC Bharat AC01 Charger Corporate Charging Stations: Volttic collaborates with businesses to set up charging stations at corporate offices, commercial complexes, and parking lots. Their charging points comply with industry standards. 🔌 VOLTTIC AC Type 2 Charger 🔌 VOLTTIC CCS2 EV Chargers Fuel Outlets EV Charging: Volttic EV charging solutions for fuel outlets make your existing fuel station EV ready to cater charging demands of EVs and make your future-ready 🔌 VOLTTIC Bharat DC01 EV Chargers 🔌 VOLTTIC Super DC fast EV chargers. Hotel & Hospitality EV Charging: Delight your guest with a seamless EV charging experience by installing Volttic EV charging solutions best suited for the hotel & hospitality industry 🔌 VOLTTIC AC Type 2 Charger 🔌 VOLTTIC CCS2 EV Chargers Mobile App: Volttic’s mobile application helps users locate nearby charging stations, check availability, and monitor charging status. The app also provides real-time updates and technical information. White-Label Platform: Volttic’s white-label platform allows other businesses to create their branded EV charging apps. It’s a turnkey solution for organizations interested in offering EV charging services. Consultancy Services: Volttic provides consultancy services related to EV charging infrastructure planning, design, and implementation. Achievements: Network Expansion: They are the leading EV Charging service provider in India. Installed 950+ EV charge points including Bharat AC01 Type 2, Bharat DC01 & CCS2 EV Chargers. ✅ Volttic is a registered trade mark product of Tvesas Electric Solutions Pvt Ltd for Electric Vehicle Charging Services Impact and Reach: ✅Impact: Volttic’s impact lies in promoting sustainable transportation by providing EV charging infrastructure. Their network of 950+ charging points across India contributes to reducing carbon emissions. ✅ Reach: Volttic’s presence extends to major cities, highways, and corporate hubs. Their charging stations are accessible to EV owners nationwide. About Funding:  ✅ Volttic is not supported by any form of venture capital (VC), private equity (PE), or external investors, it operates solely on its resources, whether it’s the founder’s personal savings, revenue generated from sales, or loans from traditional financial institutions. Current Presence: Expansion Plan: ✅ Phase-Wise Implementation: Volttic has a well-defined expansion plan. By 2027, they aim to deploy 10,000+ charging points. Growth Metrics: ✅ From just a few numbers in 2019 with a total of 45 EV charging points now in 2024, they have 950+ EV charging points across India. ✅ Going forward, by 2025, there will be around 2000+ EV charging points where we will have a presence across all major cities in India. ✅ Going ahead in the long term they are looking to cover India with 10000+ EV charging points by the FY27 end and same time targeting to have 10X growth in their revenue figures. Growth Drivers: ✅ Volttic is committed to building “Safe, Reliable & Efficient EV Charging Infra” across India. ✅ Their first installed machines are still running healthy and making revenue for Volttic, and they are as good as new machines. ✅ They are making a difference in operations reliability as part of our service offering and making charging infra users comfortable while driving an EV. ✅ Volttic is helping EV fleet clients to build EV charging infrastructure at their convenience. Growth Challenges: Volttic doesn’t have help from big investors like venture capitalists or private equity firms. This means they have to be really careful with their money. They can’t rely on outside funding, so they have to make smart decisions about where to spend their money. Even though this makes things a bit harder for them, it also gives them more freedom to do things their own way. But because they don’t have big investors backing them, they might miss out on some useful resources and connections. Still, Volttic is doing really well and growing fast, showing that they can handle these challenges and succeed on their own terms. Growth Opportunities: They already have the largest base of EV fleet clients and expect to grow by 200% in FY25 as demand for EV fleets is soaring. Conclusion Volttic, founded in 2017, has become a prominent player in India’s EV charging infrastructure sector. Despite operating without external investors, their commitment to sustainability and innovation drives their comprehensive range of charging solutions. While the lack of external funding presents challenges, Volttic’s rapid growth showcases its ability to succeed independently. With a focus on reliable and efficient charging infrastructure, Volttic is poised for continued expansion and impact in the electric mobility landscape. 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