Lithion Power was one of the first companies to launch the ‘Battery-as-a-Service’ model. Towards this, the firm built the whole technology stack from scratch which includes hardware (power electronics, PCB design), embedded algorithms, and software & data analytics, shared Chandrashekhar Bhide Co-founder, Lithion Power in an interview with Anurima Mondal, Editor of EVolution Auto India.
Q: Please walk us through the business journey of Lithion Power and its crucial achievements.
Chandrashekhar Bhide: Set up in 2017, Lithion Power started commercial operations with ‘battery swapping’ for electric rickshaws in Delhi/NCR region in February 2018. We were the first ones to launch the ‘Battery-as-a-Service’ model. Towards this, we built the whole technology stack from scratch which includes hardware (power electronics, PCB design), embedded algorithms, and software & data analytics. Post-COVID, we shifted our focus to core EV powertrain products like Battery Management System (BMS), motor controllers, battery chargers, etc. We have filed for over a dozen patents on the engineering aspects and have been granted a few. We have been recognized among the most innovative MSMEs in different forums.
Q: Could you shed some light on Lithion Power’s product offerings along with their USPs?
Chandrashekhar Bhide: Our flagship product category is smart Battery Management System (BMS); since it is designed and developed by us, we own the complete intellectual property (IP) making it possible to easily integrate with other powertrain products or customize it as per customers’ specific requirements. Our products are ICAT-certified & adhere to the latest technical standards. We do our own procurement and are absolutely fanatical about high-quality standards. Each product is meticulously tested, validated and uniquely labeled, before it gets to the customer.
Q: Please tell us about your future plans – in terms of product development and market expansion.
Chandrashekhar Bhide: We are already market leaders in the low-to-medium power segment (e2W & e3W) with our 48-72V BMS for lithium-ion batteries; now we are building high-voltage products for electric 4-wheelers & Energy Storage Systems (ESS). In terms of markets, we are looking to expand to key segments in Europe & North America.
Q: The current Indian government has set a target of achieving 30 percent electric vehicle penetration by 2030. What are your views on the overall EV industry?
Chandrashekhar Bhide: We are absolutely committed towards achieving the common goal of having at least 30 percent EV penetration by 2030. We believe the growth will be led primarily by electric 2-wheelers & 3-wheelers to begin with; of course, the government will do its bit by increasing the number of e-buses. The government has been supportive by offering appropriate demand-side subsidies and supply-side production-linked incentives. These can be made more attractive to accelerate EV adoption.
Q: How, in your opinion, is digitalization making the sector smarter and more efficient?
Chandrashekhar Bhide: We implemented real-time tracking and programmatic remote control of our products right from Day 1 of commercial operations! All technical parameters of a battery (say temperature, current, voltage, capacity, etc.) have to be monitored every second to ensure that they operate within acceptable limits; if they don’t, it might cause significant risk to the battery/vehicle. Hence, it is absolutely imperative that continuous monitoring is done, on a real-time basis. Digitalization helps in doing this by using IoT-enabled sensors, industry-standard communication products, etc.
Q: As a tech enthusiast, how has your journey been at Lithion Power? What are your future goals for the EV sector?
Chandrashekhar Bhide: When we started, the market was dominated by cheap Chinese products, imported by traders who were not cognizant of engineering/quality/reliability aspects. It took considerable time for players to recognize the long-term value of good quality, smartly engineered and configurable products. Over time, certain safety standards were also mandated, which greatly benefited hardcore technical players like us. India is a huge market that requires home-grown products tailored for Indian operating conditions. We expect local technology players to become leaders & garner significant market share.