One of the major hurdles is the high cost of EVs compared to traditional vehicles. To make EVs more affordable, the government could provide substantial subsidies and tax incentives to both manufacturers and consumers. Additionally, investing in charging infrastructure across the country is crucial to address range anxiety and charging anxiety to encourage EV adoption, says Dr. Rashi Gupta, Founder and Managing Director of Vision Mechatronics, fondly known as ‘Batterywali of India’, in an interview with Anurima Mondal of EVolution Auto India.
Q: Please walk us through the business journey of Vision Mechatronics along with its product range and major milestones.
Rashi Gupta: Vision Mechatronics was founded in 2009 and has since evolved from a small-scale robotics firm to a diversified technology company. It offers a wide range of products, including industrial robots, autonomous vehicles, solar power systems, and lithium-ion batteries with active balancing and the World’s Smartest Lithium Battery.
The company’s lithium battery business has seen significant growth, driven by the increasing demand for energy storage solutions. Vision Mechatronics has invested heavily in research and development to produce high-performance lithium-ion batteries for various applications, including electric vehicles, renewable energy systems and microgrids.
Major milestones include the development of advanced robotics solutions, the successful deployment of solar power projects, and the establishment of a strong lithium battery manufacturing facility along with award-winning India’s First Hybrid BESS at Gurugram.
Q: What are the recent developments and future roadmap of Vision Mechatronics?
Rashi Gupta: Vision Mechatronics is actively exploring opportunities in the 2nd life battery and recycling market, aiming to extend the lifespan of lithium-ion batteries and reduce waste. The company is also investing in research and development of grid-scale utility storage solutions using graphene-based batteries, which offer higher energy density and faster charging times. This focus aligns with the growing demand for sustainable energy storage solutions and positions Vision Mechatronics as a leader in the field of advanced battery technology.
Q: Could you shed some light on the battery market in India? In your opinion, how can India achieve indigenous battery technology development and reduce its dependency on imports?
Rashi Gupta: India’s battery market is rapidly expanding, driven by the growing demand for electric vehicles and renewable energy storage. However, the country’s reliance on imports for key battery components and technologies remains a challenge. To achieve indigenous battery development and reduce import dependency, India can focus on technology transfer from global leaders, developing a robust domestic supply chain for raw materials and components, and investing in research and development to bridge the technology gap. Additionally, fostering collaborations between government agencies, research institutions, and private companies can accelerate the innovation and commercialization of battery technologies.
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 market in India? What additional measures could be taken by the government to boost the EV industry?
Rashi Gupta: The Indian government’s ambitious target of 30 percent electric vehicle penetration by 2030 is a significant step towards reducing carbon emissions and promoting sustainable transportation. While the EV market in India has been gaining momentum, several challenges remain to be addressed.
One of the major hurdles is the high cost of EVs compared to traditional vehicles. To make EVs more affordable, the government could provide substantial subsidies and tax incentives to both manufacturers and consumers. Additionally, investing in charging infrastructure across the country is crucial to address range anxiety and charging anxiety to encourage EV adoption.
Furthermore, promoting indigenous battery technology development is essential to reduce India’s dependence on imports and ensure a sustainable EV ecosystem. Government support for research and development, as well as collaborations with industry players, can accelerate the development of robust advanced battery technologies suitable for the Indian Ecosystem.
Lastly, creating awareness about the benefits of electric vehicles and addressing concerns related to charging infrastructure, range, and performance is vital. Government-led campaigns and educational initiatives can play a significant role in shaping public opinion and driving EV adoption.
By implementing these measures, the Indian government can create a conducive environment for the growth of the EV industry, reduce emissions, and achieve its ambitious target of 30 percent electric vehicle penetration by 2030.
Q: How do you envision the future of EV and battery technology evolving, and what role would you like to play in that evolution?
Rashi Gupta: The future of EV and battery technology is promising, with advancements in battery chemistry, charging infrastructure, and autonomous driving capabilities. Vision Mechatronics envisions playing a pivotal role in this evolution by developing innovative battery solutions, optimizing energy storage systems, and integrating AI-driven technologies into EV& ESS systems. The company aims to contribute to a sustainable and electrified future, providing efficient and reliable solutions for electric vehicles and renewable energy applications.
Q: What are the current challenges facing the storage industry and what strategies could be implemented to overcome them?
Rashi Gupta: The battery energy storage industry is currently facing several challenges that hinder its growth and wider adoption. One of the major obstacles is the high cost of battery systems, which can be a significant barrier for both residential and commercial applications even though at present the prices for Li-Ion have reduced but there is still a long way for the long duration storage. Additionally, concerns about battery safety and reliability, particularly in large-scale energy storage systems, can limit investor confidence.
To overcome these challenges, it is crucial to focus on reducing the cost of battery manufacturing through advancements in technology and economies of scale. Investing in research and development to improve battery performance, safety, and lifespan is also essential. Furthermore, establishing standardized safety protocols and regulations can enhance public confidence and facilitate the integration of battery storage systems into the grid and EVs.
Moreover, addressing the challenges associated with grid integration and interoperability is crucial. Developing advanced grid management systems and control algorithms can optimize the utilization of battery storage and ensure grid stability. By addressing these challenges and implementing effective strategies, the battery energy storage industry can play a vital role in transitioning to a clean energy future.
Q: You are fondly called the ‘Batterywali of India’ for being a pioneer in the manufacturing of advanced lithium batteries. What has been the most important lesson you have learned in your entrepreneurial journey?
Rashi Gupta: As a pioneer in the manufacturing of advanced lithium batteries, I’ve had the privilege of witnessing the growth and evolution of the battery industry in India. Throughout my entrepreneurial journey, one invaluable lesson has stood out: Believe in yourself when no one does.
Entrepreneurship is a rollercoaster ride filled with ups and downs. There will be times when doubts creep in, and it may seem like the odds are stacked against you. But it’s during these moments that unwavering self-belief is crucial. Trusting in your vision, your capabilities, and your ability to overcome challenges is essential for success.
Moreover, entrepreneurship is a lifelong learning experience. There will always be new hurdles to overcome, new technologies to adapt to, and new markets to conquer. Embracing this continuous learning process and remaining adaptable is the key to staying ahead of the curve.