Power Global Enters India's Auto Rickshaw Market | Swappable Batteries

The Auto Rickshaw Revolution in India

India, characterized by high population density and relatively low car ownership, heavily relies on auto rickshaws and similar two- or three-wheeled vehicles for transportation. A significant portion of these vehicles currently utilize electric systems, though many depend on lead-acid batteries requiring frequent replacement – typically every six to eleven months.

Power Global's Innovative Approach

Power Global, a startup established two years ago, intends to transform the auto rickshaw sector. They are developing a retrofit kit for diesel-powered vehicles and a swappable battery pack system. This aims to facilitate a transition from the commonly used lead-acid batteries to more efficient lithium-ion technology.

The Expertise Behind Power Global

The company was founded by Porter Harris, a highly experienced engineer. Previously, he was instrumental in the development of battery systems for SpaceX’s Falcon 9 rocket and Dragon spacecraft. He also held the position of chief battery engineer at the electric vehicle startup, Faraday Future. To date, Power Global has been primarily self-funded, bolstered by proceeds from the sale of his SpaceX stock.

A Growing Market and Urgent Need

Harris shared in a recent TechCrunch interview that he has been analyzing the Indian market for approximately five years. Market research suggests substantial growth potential, with projections estimating the Indian electric rickshaw market will reach $1.3 billion by 2025. The need is also pressing; last year, fifteen of the world’s twenty most polluted cities were located in India, with transportation being a major contributing factor to these emissions, according to IQAir.

Comprehensive Market Coverage

Power Global is offering two distinct products – the retrofit kit, compatible with over 90% of existing models, and the “eZee” swappable battery – to address nearly the entire auto-rickshaw market.

Leveraging an Established Dealer Network

The company has already secured approximately 48 dealerships, largely due to the extensive network cultivated by Power Global co-founder, Pankaj Dubey. His prior experience with Hero Motors, Yamaha, and Polaris has proven invaluable. A robust dealer network is crucial to Power Global’s strategy, facilitating subscription sign-ups for the swappable battery system and assisting with retrofit kit installation.

A Subscription-Based Revenue Model

The primary revenue stream will be generated through a monthly subscription service for the “eZee” swappable batteries. This represents a shift from traditional fuel-based business models.

A New Paradigm for Electric Vehicle Energy

“We recognized that conventional petrol or gas solutions are not directly transferable to the electric vehicle space,” Harris explained. “This necessitates a completely new approach. Our vision centers around a high density of kiosks, each equipped with a limited number of battery modules.”

Initial deployment will focus on the outskirts of New Delhi, National Capital Region, with a long-term goal of establishing a kiosk approximately every three kilometers. Drivers will also have the option to charge batteries at home using a Power Global home charger.

User-Friendly Technology

An accompanying mobile application is under development. This app will provide drivers with real-time data, including distance traveled, remaining battery life, and the locations of nearby battery swapping kiosks.

Battery Lifespan and Sustainability

Power Global anticipates a battery lifespan of four and a half to five years. Once removed from the eZee system, the batteries will be repurposed for stationary energy storage applications. Plans are in place to integrate these batteries with small solar panels, providing power to rural communities. Ultimately, depleted batteries will be sent for recycling.

Production and Expansion Plans

The company plans to launch the eZee swappable battery in the first quarter of next year, followed by the retrofit kits. A battery production facility in Greater Noida, India, is expected to yield approximately one gigawatt-hour of production – equivalent to around 10,000 Model S battery packs – within the next year. This will position Power Global as a leading domestic manufacturer of lithium-ion batteries. By the end of 2022, the company aims to have at least 10,000 vehicles utilizing the eZee swappable system.

Focus on Emerging Markets

While discussions are underway with U.S.-based companies regarding the eZee product, Harris emphasizes a strategic focus on Eastern markets. “Our priority isn’t to create yet another solution for the wealthiest segment of the global population,” he stated. “We aim to concentrate on the remaining 90% and genuinely contribute to positive change.”