While innovations in products and solutions keep a startup a step ahead of the competition, innovation in the business model ultimately decides the runway and scale. Such is the story of IIT Madras-incubated battery swap solutions provider Esmito Solutions
While the battery swap story in India has seen its ups and downs, it is pointed to as the most viable solution for charging needs in the electric two- and three-wheeler segments, especially in the B2B sector, i.e., logistics, transportation, and allied segments.
In a nutshell, every electric vehicle (EV) form factor, plying on intercity routes, has become a successful use case for battery swapping. This is because it allows these vehicles to spend more time on roads and less time getting recharged.
Incubated in 2018 at IIT Madras, Esmito is focusing on the B2B side of electric two- and three-wheelers. Dr Prabhjot Kaur, Co-founder and Co-CEO of Esmito Solutions, told Electronics For You, “We have scaled up in serving swapping solutions with several players in India now and are starting to conduct pilots outside India.”
Apart from these international locations where the tech developed by Esmito in India has become one of the first to be tested, the startup is fully operational in Mumbai in the E3W and E2W segment and has recently started its operations in Delhi and Hyderabad.
Dr Kaur was previously CEO of the Centre for Battery Engineering and EVs at IIT Madras, where she was instrumental in several technology translations and licensing EV technologies to companies for production. Notably, IIT Madras also happens to be the ground zero of Professor Ashok Jhunjhunwala, who is regarded as one of India’s top voices advocating battery swap technology.
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