India's 5 Most Promising E-Mobility Companies 2024

Vol : 06 | Issue : 05 | 2024 Fueling Future's E-Mobility March - Spearheading the EV Revolution in India by Providing a FAST and RELIABLE Charging Infrastructure India's 5 Most Promising E-Mobility Companies || 2024

India's 5 Most Promising E-Mobility Companies || 2024

Editor’s Note INDIA CHARGES FORWARD: 5 E-MOBILITY COMPANIES SHAPING THE FUTURE Gaurav PR Wankhade Managing Editor gaurav.wankhade@insightssuccess.com T he Indian electric vehicle (EV) market is poised for a revolution. Driven by rising fuel costs, environmental concerns, and government incentives, the sector is attracting a wave of innovation. Here, we explore five promising companies leading the charge: KPIT Technologies: This automotive engineering powerhouse is leveraging its expertise to develop cutting- edge solutions for electric vehicles. From electric vehicle powertrains to battery management systems, KPIT is helping Indian manufacturers build efficient and reliable EVs. Its contributions will be instrumental in creating a robust domestic EV ecosystem, reducing dependence on foreign technology. Jio-bp: This joint venture between Reliance Industries and British Petroleum (bp) is not a new name in the energy sector. However, Jio-bp's foray into EV infrastructure is a game-changer. With a focus on setting up a robust network of FAST (Faster Adoption and Manufacturing of Electric Vehicles in India) charging stations, Jio-bp aims to address range anxiety, a major hurdle for EV adoption. Its commitment to reliable and convenient charging infrastructure will play a crucial role in accelerating EV sales across India. Vecmocon Technologies Private Limited: This young company is making waves with its innovative two-wheeler electric scooters. Vecmocon focuses on developing high- performance, long-range electric scooters at competitive prices. Its commitment to affordability and user-friendliness makes its offerings particularly appealing to the mass market. This focus on everyday mobility solutions can potentially propel electric two-wheelers to become the dominant mode of transportation in urban India. Flextron EV Charge Points: This global manufacturing giant has set its sights on the Indian EV market with a focus on EV charging infrastructure. Flextron brings its expertise in design and manufacturing to the table, aiming to produce high-quality, cost-effective charging points. This focus on affordability will be crucial for widespread EV adoption, particularly in price-sensitive segments like two-wheelers. These Insights Success ‘India's 5 Most Promising E- Mobility Companies || 2024,’ represent just a glimpse of the vibrant Indian EV landscape. With continuous innovation and government support, India is well on its way to becoming a global leader in electric mobility. The future of Indian transportation is electric, and these companies are at the forefront of this exciting revolution. Flo Mobility: With a focus on fleet management solutions, Flo Mobility is playing a key role in the electrification of commercial vehicles. It offers a comprehensive package including electric vehicles, charging infrastructure, and battery swapping stations. This one-stop-shop approach caters specifically to the needs of businesses and fleet operators, making the transition to EVs seamless and attractive. Gaurav PR Wankhade Managing Editor gaurav.wankhade@insightssuccess.com

Contents 20 24 Profiles 08 Flextron EV Charge Points At the Forefront of Electric Mobility Empowered Indian Future Fueling Future's E-Mobility March - KPIT Technologies A Driving Force in India's E-Mobility Spearheading the EV Revolution in India by Providing a FAST and RELIABLE Charging Infrastructure Revolu?on Articles 16 30 34 From Scooters to Smart Mobility The Rise of Innova?ve E-Mobility Startups in India Going Green and Gearing Up How the Indian EV Startups are Changing the Game? A Compara?ve Analysis Electric Vehicles vs. Internal Combus?on Engines

Vol : 06 | Issue : 05 | 2024 India's 5 Most Promising E-Mobility Companies || 2024 Fueling Future's E-Mobility March - Spearheading the EV Revolution in India by Providing a FAST and RELIABLE Charging Infrastructure Editor-in-Chief Pooja M. Bansal Managing Editor Gaurav PR Wankhade Assisting Editor Prajakta Zurale India's 5 Most Promising E-Mobility Companies || 2024 sales@insightssuccess.in JUNE, 2024 Visualizer Sandeep Tikode Art and Design Head Rashmi Singh Sr. Graphic Designer Sameen Arif Corporate Offices: Insights Success Media and Technology Pvt. Ltd. Survey No.133/134, Brand Square, Office No. 512, Kunjir Chowk, Pimple Saudagar, Pune, Maharashtra 411027 Phone - India: +91 7410079881/ 82/ 83/ 84/ 85 Email: info@insightssuccess.in For Subscription: www.insightssuccess.in Company Featuring Description Vice President Swapnali Vasaikar Asst. Vice President Tejaswini Whaval Asst. Manager Nitin Patil Team Lead Pratiksha Jagtap Sr. BDE Ashwini Kamble Hailing from Bangalore, Flextron strives to raise the EV charging ecosystem in India to new heights through our cutting-edge technology. Flextron EV Charge Points Mukesh R Jogi, Co-founder and CEO Flo Mobility offers cutting-edge robotic technology and automation services on a flexible subscription or pay-per-use basis, tailored to suit your business needs. Insights Success Media Tech LLC 555 Metro Place North, Suite 100, Dublin, OH 43017, United States Phone - (614)-602-1754 Email: info@insightssuccess.com For Subscription: www.insightssuccess.com Manesh Jain, Founder and CEO Flo Mobility Technical Head Prachi Mokashi Technical Specialist Rajeshwari Avhad Jio-bp is one of India's top solution providers for energy needs like fuel, EV charging, mobility stations, and convenience stores with a large network. Jio-bp NA Digital Marketing Manager Renuka Kulkarni SME-SMO Executive Nikita Khadalkar Circulation Manager Tanaji Fartade KPIT Technologies is a global partner to the automotive and Mobility ecosystem for making software-defined vehicles a reality. Dr Kishor Patil, CEO and Co-founder KPIT Technologies Trusted by 50+ businesses all over the world, Vecmocon understands Electric vehicle space really well. Vecmocon Technologies Private Limited Peeyush Asati, Founder Cover Price : RS. 350/- https://twitter.com/insightssuccess Follow us on : www.facebook.com/insightssuccess/ We are also available on Copyright © 2024 Insights Success Media and Technology Pvt. Ltd., All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Insights Success Media and Technology Pvt. Ltd. Reprint rights remain solely with Insights Success. Printed and Published by Insights Success Media and Technology Pvt. Ltd. RNI NUMBER: MAHENG/2018/75953

Fueling Future's E-Mobility March - COVER STORY Spearheading the EV Revolution in India by Providing a FAST and RELIABLE Charging Infrastructure Our collaboration bridges the gap between international expertise and deep-rooted local strengths, creating a powerful force poised to revolutionize India's mobility landscape.

India's 5 Most Promising E-Mobility Companies || 2024 I ndia, the world's most populous nation, is experiencing a paradigm shift in its transportation landscape. As environmental consciousness rises and fuel prices fluctuate, Electric Vehicles (EVs) are rapidly emerging as a cleaner and more sustainable alternative. At the forefront of this exciting transition stands Jio-bp, a joint venture poised to become a leading force in India's e-mobility sector. comprehensive service offering at their Mobility Stations. Future-Proof Approach: By offering both conventional and electric fueling options at their Mobility Stations, Jio-bp caters to the evolving needs of the transportation sector. One-Stop Shop for E-Mobility: Jio-bp aspires to become a comprehensive solution provider for all things e-mobility, encompassing charging infrastructure, and potentially even EV sales and servicing in the future. Jio-bp is more than just a joint venture; it's a strategic alliance between two industry titans – Reliance Industries Limited (RIL) and bp Plc. This collaboration bridges the gap between international expertise and deep-rooted local strengths, creating a powerful force poised to revolutionize India's mobility landscape. This powerful combination of international expertise and local strengths makes Jio-bp a key player in shaping India's transition to a cleaner and more sustainable transportation future. A Legacy of Innovation Jio-bp is the brainchild of two industry giants – Reliance Industries Limited (RIL), a household name in India synonymous with innovation, and bp, a global leader in energy and convenience retailing. This powerful collaboration leverages RIL's extensive retail network across 21 states and its vast customer base through the Jio digital platform. bp, on the other hand, brings its proven expertise in high-quality fuels, lubricants, and advanced low-carbon mobility solutions. This synergy positions Jio- bp as a one-stop shop for all things e-mobility in India. Jio-bp pulse Business (EV Charging) The Electric Mobility Business operates under the brand name Jio-bp pulse. The charging infrastructure is flexible enough to accommodate e2w, e4 wheelers, eSCV, and e-buses. The design of the set-up ensures a FAST and RELIABLE network, ensuring inclusivity across various electric vehicle categories. As a responsible organization, we at Jio-bp pulse place sustainability at the forefront of our agenda, emphasizing our commitment to reducing carbon emissions and promoting environmental stewardship. RIL: A Powerful Union Fueling India's E-Mobility Future With an emphasis on customer experience, the key differentiator lies in pulse’s ability to offer a Reliable network with >90%* uptime and fast charging with ease of usage. (*Uptime indicates the percentage of time when the charger is in the Available or Busy state.) RIL, a household name in India, brings a rich heritage of innovation and a vast network across the country. Here's what they contribute to the venture: Extensive Retail Network: Jio-bp leverages RIL's existing network of over 1700 retail outlets across 21 states. This provides a strong foundation for establishing a widespread network of Jio-bp Mobility Stations, making them readily accessible to a large customer base. With fast chargers forming the bulk of their country- wide network, Jio-bp pulse charging stations provide the convenience of quick charging to EV customers. Moreover, customers can navigate seamlessly through the Jio-bp pulse Charge App, building a cashless, hassle-free transaction facilitator. The company accepts all modes of payment, including net banking, credit cards, debit cards, UPI, and various digital wallets. bp: Global Expertise in Energy and Convenience bp, a global leader in energy and convenience retailing, brings a wealth of experience to the table: With over 4,500+ operational charge points available across 40+ cities and arterial highways, the Jio-bp pulse network is growing multifold year after year. Advanced Low-Carbon Mobility Solutions: bp possesses the knowledge and technology to develop and implement cutting-edge EV charging infrastructure. Accelerating EV adoption in the fastest growing segment, car fleets, Jio-bp pulse has created and runs High-Quality Fuels and Lubricants: Jio-bp benefits from bp's expertise in traditional fuels and lubricants, ensuring a

more than two dozen of the country’s largest charging hubs. With each hub boasting over 100+ charging points and the highest running up to 250+ charging points, these hubs are a boon for some of the country’s largest EV car fleet operators. Top-tier AC and DC fast chargers for rapid and efficient charging experiences are also available, and the technology supporting the charging infrastructure can support a diverse range of charger types, including CCS, GBT, and Type 2, for compatibility with all Evs. Our Electric Mobility Business under the brand name Jio-bp pulse fosters the charging infrastructure that is flexible enough to accommodate e2w, e4 wheelers, eSCV, and e-buses. Strategic Placement of Charging Networks The locations have been chosen carefully, considering the typical usage patterns and convenience of EV users. EV users will find the chargers at various locations, such as malls, restaurants, hotels, commercial complexes, office premises, IT parks, highways, and retail outlets. To ensure a seamless EV charging experience, a fully automated charging station locator app informs customers about real-time charger availability. Other features in the package include Auto Charge functionality, waiting time visibility, trip planning, and saver pack options. Sustainability As a responsible organization, Jio-bp pulse places sustainability at the forefront of its agenda, emphasizing its commitment to reducing carbon emissions and promoting environmental stewardship. Here, the team shows how sustainability is integrated into Jio-bp pulse’s operations. ~Carbon Emissions Reduction: Jio-bp pulse aims to significantly reduce carbon emissions by promoting the adoption of electric mobility through its EV charging Electric vehicles produce lower or zero emissions compared to traditional combustion engine vehicles, contributing to cleaner air and mitigating climate change. ~Environmental Stewardship: The venture prioritizes environmental stewardship by actively engaging in practices that minimize its ecological footprint. Jio-bp has started to source green electricity at its EV charging station in Bangalore. Soon, all EV charging stations will have access to renewable electricity,

Jio-bp Pulse: Powering the Future of E-Mobility thereby providing end-to-end green energy solutions for customers. By facilitating the transition to electric mobility, Jio-bp pulse contributes to preserving natural resources and reducing pollution levels, thereby safeguarding the environment for future generations. Jio-bp's commitment to e-mobility extends beyond brick- and-mortar infrastructure. Jio-bp pulse, the company's dedicated electric mobility business, aims to establish India's largest EV charging This ambitious vision will involve not only setting up charging stations but also developing a robust digital ecosystem. Imagine a seamless experience where users can locate nearby charging stations, schedule charging slots, and even monitor their battery health – all through a user-friendly mobile app. ~Promotion of a Greener Future: Jio-bp pulse sees itself as a catalyst for building a greener future by driving the widespread adoption of electric mobility in India. By providing infrastructure and services that support electric vehicles, the venture helps pave the way for a transportation sector that is more sustainable and environmentally friendly. A Look Ahead: Jio-bp's Vision for a Sustainable Tomorrow ~Continuous Innovation and Eco-friendly Practices: Jio-bp's entry into the e-mobility space is a significant development for India. With its robust infrastructure, commitment to innovation, and emphasis on collaboration, the company is well-positioned to become a driving force in the country's transition to a cleaner and more sustainable transportation ecosystem. The commitment to sustainability extends beyond the core services of EV charging. Jio-bp pulse actively seeks out innovative solutions and adopts eco-friendly practices throughout its business operations to minimize its environmental impact. As India strives to become a global leader in e-mobility, Jio-bp promises to be a key player in shaping the future of mobility in the world's largest democracy. This dedication to continuous improvement ensures that sustainability remains a guiding principle in all aspects of the venture's activities. Beyond Traditional Fuel Stations: The Rise of Jio-bp Mobility Stations Jio-bp isn't merely replicating the traditional fuel station model. It's envisioning a future where mobility solutions cater to a diverse range of needs. With the launch of its "Mobility Stations," Jio-bp is redefining the customer experience. This future-proof approach ensures Jio-bp remains relevant as India's transportation landscape evolves. As India strives to become a global leader in e-mobility, we at Jio-bp promise to be a key player shaping the future of mobility in the world's largest democracy.

From Scooters to Smart Mobility The Rise of Innovative E-Mobility Startups in India I ndia is undergoing a transformative shift in its approach to transportation, driven by a surge in innovative e-mobility startups. These companies are not only reimagining the traditional scooter but are also pioneering advanced technologies that promise to redefine the future of urban mobility. Startups like Ather Energy and Ola Electric are leading the charge by introducing electric scooters that are not only eco-friendly but also packed with cutting-edge features. These modern electric scooters boast of advanced battery technology, offering longer ranges and faster charging times, which address one of the main challenges of e- mobility: range anxiety. Furthermore, with the integration of smart connectivity features, these scooters provide users with real-time data on battery status, ride statistics, and navigation, enhancing the overall riding experience. From scooters to comprehensive smart mobility solutions, the rise of e-mobility startups is playing a crucial role in shaping a sustainable, efficient, and intelligent transportation ecosystem in India. The Rise of Smart Mobility Solutions The Evolution from Conventional to Electric Scooters While electric scooters have garnered significant attention, the broader vision of these startups extends beyond merely replacing conventional scooters with electric ones. The focus is increasingly shifting towards developing smart mobility solutions that encompass a wide range of transportation needs. This holistic approach aims to tackle the complex challenges of urban mobility, including traffic congestion, pollution, and the inefficiencies of traditional transportation systems. Electric scooters have emerged as the flagship product of the e-mobility revolution in India. This evolution can be traced back to the growing need for sustainable and cost- effective transportation options in congested urban environments. Traditional scooters, powered by internal combustion engines, have long been a popular choice for personal transport due to their affordability and convenience. However, the increasing environmental concerns and rising fuel costs have paved the way for electric alternatives. E-mobility startups are leveraging technologies like IoT (Internet of Things), AI (Artificial Intelligence), and data 16 | www.insightssuccess.in June, 2024 17 | www.insightssuccess.in June, 2024

analytics to create intelligent transportation systems. For instance, companies like Yulu and Bounce are offering electric bike-sharing platforms that provide an affordable and convenient mode of last-mile connectivity. These platforms are equipped with smart locks and GPS tracking, allowing users to easily locate, unlock, and ride the bikes using a mobile app, and then leave them at any designated spot. This flexibility and ease of use make them a practical solution for urban commuters. accelerating the transition to electric mobility. Additionally, state governments are rolling out policies to support the development of e-mobility infrastructure and encourage investment in this sector. Forward Driving Challenges and Future Prospects with Technology Despite the rapid growth and promising developments, the e-mobility sector in India faces several challenges. The high initial cost of electric vehicles, limited charging infrastructure, and consumer apprehension about range and reliability are significant hurdles that need to be addressed. Startups are actively working on overcoming these barriers through continuous innovation, strategic partnerships, and educating the market about the benefits of electric mobility. Innovation in Battery and Charging Infrastructure A key component of the e-mobility revolution is the innovation in battery technology and charging infrastructure. The success of electric vehicles, particularly in a market like India, hinges on the availability of efficient and accessible charging solutions. Startups are making significant strides in this area by developing advanced battery technologies that offer higher energy densities, faster charging capabilities, and longer life cycles. Looking ahead, the future of e-mobility in India is poised for exponential growth. The increasing awareness about environmental sustainability, coupled with technological advancements and supportive government policies, will likely drive the widespread adoption of electric vehicles. E- mobility startups are expected to play a pivotal role in this transformation by introducing new products and services that cater to the evolving needs of urban commuters. Furthermore, companies are also focusing on establishing robust charging infrastructure. For example, Revolt Motors has implemented a unique battery-swapping model that allows users to exchange depleted batteries for fully charged ones at designated stations. This model significantly reduces downtime and makes electric vehicle ownership more convenient. The Road to A Greener Tomorrow The journey from traditional scooters to smart mobility solutions marks a significant milestone in India's transportation landscape. E-mobility startups are at the forefront of this revolution, driving change through innovation and technology. As these companies continue to push the boundaries of what is possible in the realm of electric and smart mobility, they are not only reshaping the way people move but also contributing to a greener and more sustainable future. With a strong foundation in place and a clear vision for the future, the rise of e-mobility startups in India is set to redefine the dynamics of urban transportation in the years to come. Additionally, partnerships between e-mobility startups and established players in the energy sector are accelerating the deployment of widespread charging networks. These collaborations aim to create a comprehensive ecosystem that supports the seamless adoption of electric vehicles by addressing one of the major barriers – the lack of charging facilities. Government Support and Policy Initiatives The rise of e-mobility startups in India is also being propelled by favorable government policies and initiatives aimed at promoting sustainable transportation. The Indian government has launched several schemes and incentives to encourage the adoption of electric vehicles, including subsidies on electric vehicle purchases, tax benefits, and the establishment of charging infrastructure. Programs like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme are providing financial incentives to e-mobility startups and consumers alike, thereby reducing the cost of ownership and 18 | www.insightssuccess.in June, 2024

India's 5 Most Promising E-Mobility Companies || 2024 Flextron EV Charge Points At the Forefront of Electric Mobility Mukesh R Jogi, Co-founder and CEO, Flextron EV Charge Points Empowered Indian Future At Flextron, we are building India’s most affordable, reliable and green charging network while giving a seamless charging experience to customers at home and away from home. E worldwide are actively transitioning towards cleaner transportation solutions. India, a nation with a booming population and a growing automotive industry, has made a significant commitment by pledging to achieve net zero emissions by 2070. This ambitious goal necessitates a drastic shift away from traditional fossil-fuel-reliant vehicles. Here's where electric vehicles (EVs) come into play. The Rise of Electric Mobility lectric mobility is no longer a futuristic vision; it's the clear path forward. With rising concerns about climate change and air pollution, countries Powered by companies like Flextron, EV Charge Points represent a win-win situation for India. It paves the way for a cleaner future, reduces dependence on fossil fuels, and fosters a more sustainable transportation ecosystem. As the technology continues to evolve and charging infrastructure expands, electric vehicles have the potential to become the dominant mode of transport in India, contributing significantly to achieving the nation's ambitious net-zero targets. Today, Flextron emerges as one of India's most promising companies in the electric mobility sector, signalling a significant shift towards sustainable transportation solutions. Founded with a vision to revolutionize India's infrastructure for EVs, Flextron has quickly established itself as a key player in the burgeoning e-mobility market. Led by visionary entrepreneur Mukesh R Jogi, Co- founder and CEO, the company has carved out a niche by focusing on innovative charging solutions that cater to the diverse needs of EV owners across the country. EVs offer a compelling alternative, powered by electricity generated from renewable sources like solar or wind. This significantly reduces greenhouse gas emissions and improves air quality, especially in densely populated cities like Delhi and Mumbai. Additionally, EVs are quieter, leading to a more peaceful environment. Expansion and Network Growth not only to facilitate convenient charging options but also to accelerate the adoption of electric vehicles as a sustainable mode of transportation in India. Since its inception, Flextron EV Charge Points has experienced rapid expansion, bolstering its presence across key cities and strategic locations in India. The company's network growth is underpinned by strategic partnerships with government agencies, real estate developers, and corporate entities keen on promoting sustainable practices. This expansion not only enhances accessibility to EV charging but also contributes to reducing carbon emissions and promoting cleaner air quality in urban centres. Innovative Charging Solutions A robust electric vehicle charging infrastructure is critical for India to achieve its net zero goals. Companies like Flextron EV Charge Points are at the forefront of this revolution. Developing and deploying innovative charging solutions makes EV ownership a practical and realistic option for everyday consumers. Flextron's commitment to fast-changing technology, like their FlexGrid system, can significantly reduce charging times, addressing a major concern for potential EV buyers. Additionally, their focus on establishing charging stations in strategic locations, like petrol pumps and shopping centres, creates a convenient network for recharging on the go. Flextron EV Charge Points distinguishes itself through its innovative approach to EV charging infrastructure. The company offers a range of solutions tailored to meet the needs of different stakeholders, including individual EV owners, commercial fleets, and public infrastructure projects. From fast-charging stations capable of charging vehicles rapidly to smart grid integration and energy management solutions, Flextron EV Charge Points leverages cutting-edge technology to optimize charging efficiency and user experience. Vision and Leadership Mukesh, a seasoned entrepreneur with a deep commitment to advancing India's e-mobility ecosystem, is at the helm of Flextron EV Charge Points. His leadership is characterized by a blend of strategic foresight and technical acumen, driving the company's mission to build a robust network of EV charging infrastructure nationwide. Mukesh's vision is Commitment to Sustainability A strong commitment to sustainability is central to Flextron EV Charge Points' ethos. The company's charging 20 | www.insightssuccess.in June, 2024 21 | www.insightssuccess.in June, 2024

Transportation is transforming and we need to get ready. - James Campbell infrastructure is designed to minimize environmental impact while supporting the transition towards a greener economy. By promoting clean energy solutions and reducing dependency on fossil fuels, Flextron EV Charge Points plays a pivotal role in India's efforts to achieve its climate goals and enhance energy security. e-mobility landscape. The company's forward-thinking approach, combined with Mukesh's visionary leadership, positions it as a key player in shaping the future of transportation. As the demand for electric vehicles continues to rise and infrastructure investment grows, Flextron EV Charge Points is set to play an instrumental role in driving sustainable mobility solutions nationwide. Technological Integration and Accessibility Flextron EV Charge Points is a beacon of innovation and sustainability in India's e-mobility sector. With a strong emphasis on technological excellence, environmental responsibility, and community engagement, the company is well-positioned to lead the charge towards a cleaner, greener future. Technological integration is a cornerstone of Flextron EV Charge Points' strategy. The company leverages advanced software and hardware solutions to offer seamless charging experiences for EV users. Mobile app integration, real-time monitoring, and payment systems ensure accessibility and convenience, enhancing user satisfaction and encouraging wider adoption of electric vehicles. Under Mukesh Jogi's leadership, Flextron EV Charge Points is not only transforming how Indians commute but also contributing to global efforts to combat climate change through progressive e-mobility solutions. Community Engagement and Outreach Beyond infrastructure development, Flextron EV Charge Points actively engages with communities to promote awareness about e-mobility and sustainable living. Educational initiatives, outreach programs, and partnerships with educational institutions underscore the company's commitment to fostering a culture of environmental stewardship and innovation among future generations. Future Outlook Looking ahead, Flextron EV Charge Points remains poised for further growth and innovation in India's dynamic 22 | www.insightssuccess.in June, 2024

India's 5 Most Promising E-Mobility Companies || 2024 KPIT KPIT Technologies Technologies A Driving Force in India's E-Mobility Revolution I future demands a cleaner and more sustainable approach. In this scenario, KPIT Technologies emerges as a key player, leveraging its expertise to propel India's electric mobility (e-mobility) sector forward. Visionary Leadership and Strategic Direction ndia, a country grappling with rising air pollution and a burgeoning population, is at a crossroads. Transportation needs are evolving rapidly, and the Dr Kishor Patil, CEO and Co-founder, KPIT Technologies Dr Patil, an industry stalwart, has been instrumental in steering KPIT towards its current stature as a leader in e- mobility. His vision encompasses a future where transportation is efficient and environmentally responsible. Patil’s extensive experience and keen understanding of the automotive and IT industries have enabled KPIT to anticipate market trends and position itself at the forefront of electric vehicle (EV) technology innovation. In the rapidly evolving realm of e-mobility, KPIT Technologies has emerged as one of India's most promising companies. With its roots in Pune, KPIT has leveraged its extensive automotive engineering and information technology expertise to become a key player in the global push towards sustainable transportation solutions. KPIT's E-Mobility Expertise: Technological Prowess and Innovations KPIT Technologies is renowned for its comprehensive solutions catering to the entire EV ecosystem. From advanced battery management systems to cutting-edge power electronics and software development for electric powertrains, KPIT’s offerings cover a wide spectrum of e- mobility needs. From Automotive Legacy to E-Mobility Champion Founded in 1998, KPIT Technologies boasts a rich heritage in the automotive industry. Led by the visionary Dr Kishor Patil, a renowned figure in the Indian automotive space, the company has established itself as a leading engineering solutions provider for global automotive giants. This experience has positioned KPIT perfectly to contribute to the e-mobility revolution. Battery Management Systems (BMS): KPIT’s BMS technology is a cornerstone of its e-mobility solutions. The company has developed sophisticated systems that ensure optimal EV battery performance, longevity, and safety. This technology is crucial for enhancing the efficiency and reliability of electric vehicles. Under the strategic leadership of Dr Patil, CEO and Co- founder, the company has charted a course that drives technological advancements and champions environmental sustainability. 24 | www.insightssuccess.in June, 2024 25 | www.insightssuccess.in June, 2024

Research and Development (R&D): KPIT invests heavily in R&D, working with academic institutions and research organizations to explore new frontiers in e-mobility. This commitment to innovation has resulted in a steady stream of new technologies and solutions that keep KPIT at the forefront of the industry. Future Prospects and Innovation Looking ahead, KPIT is poised to continue its trajectory of growth and innovation in the e-mobility space. The company is exploring new technologies and solutions that will further enhance the performance and sustainability of electric vehicles. Sustainability and Environmental Impact Next-Generation EV Platforms: KPIT is developing next- generation EV platforms that will enable automotive manufacturers to bring new electric vehicles to market more quickly and efficiently. These platforms will incorporate advanced technologies such as autonomous driving and connected vehicles. At the heart of KPIT’s mission is a commitment to sustainability. The company’s e-mobility solutions are designed to reduce transportation's environmental footprint and promote the use of clean energy. Reducing Emissions: KPIT’s technologies are pivotal in reducing greenhouse gas emissions by supporting the transition from internal combustion engine vehicles to electric vehicles. This shift is critical for mitigating climate change and improving air quality in urban areas. Smart Charging Solutions: As the demand for EVs grows, KPIT is also focusing on developing smart charging solutions that will make it easier and more convenient for consumers to charge their vehicles. These solutions will integrate with the wider energy grid to optimize the use of renewable energy sources and reduce transportation's overall carbon footprint. Energy Efficiency: KPIT focuses on enhancing the energy efficiency of EVs, thereby reducing the overall energy consumption and contributing to a more sustainable energy ecosystem. The company’s power electronics and battery management systems are designed to maximize the efficiency of every kilowatt-hour of electricity used. Power Electronics: KPIT excels in developing power electronics, including inverters and converters, that are essential for managing the flow of electrical energy within EVs. These components are critical for maximizing energy efficiency and supporting the high-performance demands of modern electric vehicles. Thus, KPIT Technologies is a leading force in India's e- mobility landscape. Its expertise in software development, innovative battery technology, and commitment to collaboration position it perfectly to contribute significantly to India's clean transportation future. As the e-mobility sector continues to evolve, KPIT is poised to be a driving force in shaping India's more sustainable and environmentally conscious transportation ecosystem. With 13000+ automobelievers across the globe specializing in embedded software, AI, and digital solutions, we at KPIT accelerate its clients’ implementation of next- generation technologies for the future mobility roadmap.16. Global Presence and Market Reach KPIT’s influence extends far beyond India’s borders. The company has a significant presence in major automotive markets worldwide, including development centres and partnerships in Europe, North America, and Asia. This global footprint enables it to deliver solutions that meet the diverse needs of customers across different regions. Software for Electric Powertrains: KPIT’s expertise extends to developing software solutions that control and optimize the operation of electric powertrains. This includes everything from energy management to diagnostics and predictive maintenance, ensuring EVs perform at their best under various conditions. European Market: In Europe, KPIT is a key player in the e-mobility sector, working with several leading automotive companies to develop and deploy EV technologies. The company’s expertise in complying with stringent European environmental regulations positions it as a trusted partner for OEMs seeking to expand their EV offerings. Collaborations and Industry Partnerships KPIT’s success in the e-mobility space is also attributable to its strategic collaborations and partnerships with leading automotive manufacturers and technology providers. By working closely with industry giants, KPIT has integrated its technologies into various vehicles, from passenger cars to commercial trucks. North American Market: KPIT’s presence in North America includes collaborations with some of the region’s top automotive manufacturers. The company’s technologies are integral to developing next-generation electric vehicles that meet the needs of North American consumers. Global Automotive OEMs: KPIT partners with several leading automotive original equipment manufacturers (OEMs) to co-develop and deploy innovative EV technologies. These collaborations enable KPIT to stay on top of industry trends and deliver solutions that meet the highest performance and reliability standards. 26 | www.insightssuccess.in June, 2024 27 | www.insightssuccess.in June, 2024

GREEN ENERGY POWER

Going Green and Gearing Up Startups like Ather Energy, Ola Electric, and Revolt Motors are at the forefront of this movement, developing electric two-wheelers and scooters that cater to the needs of urban commuters. These companies are pioneering affordable, efficient, and eco-friendly alternatives to traditional gasoline-powered vehicles, thereby reducing carbon footprints and contributing to a cleaner environment. How the Indian EV Startups are Changing the How the Indian EV Startups are Changing the Game? Game? Innovative Business Models: The New Frontier One of the hallmarks of Indian EV startups is their innovative approach to business models. Unlike traditional automotive manufacturers, these startups are leveraging new technologies and digital platforms to create unique value propositions. For instance, many EV companies are adopting direct-to-consumer (D2C) sales models, bypassing traditional dealership networks and thereby reducing costs. This approach not only makes electric vehicles more affordable but also allows for a more personalized customer experience. Additionally, subscription-based models and battery- swapping services are emerging as viable alternatives to conventional ownership. Companies like Bounce and Yulu offer electric scooter rentals on a pay-per-use basis, making electric mobility accessible to a broader segment of the population. This flexibility is particularly appealing in urban areas, where the high cost of ownership and maintenance can be a deterrent to adopting new technologies. I ndia's burgeoning electric vehicle (EV) industry is rapidly gaining momentum, driven by the innovative spirit of homegrown startups. As the nation grapples with urban pollution, fossil fuel dependency, and a burgeoning demand for sustainable transportation solutions, EV startups are stepping up, bringing groundbreaking technologies and business models to the forefront. These startups are not just introducing electric vehicles but are revolutionizing the entire ecosystem, from production to charging infrastructure, and reshaping the future of mobility in India. Technological Innovations: Driving the Future At the core of the EV revolution in India is a wave of technological advancements that are making electric vehicles more efficient, affordable, and convenient. Indian EV startups are investing heavily in research and development to enhance battery technologies, improve charging infrastructure, and integrate smart features into their vehicles. The Green Shift: A Necessity Turned Opportunity The transition towards electric vehicles in India is driven by a confluence of environmental, economic, and technological factors. With urban air pollution reaching critical levels and the country’s dependency on imported fossil fuels posing significant economic risks, the need for cleaner and more sustainable modes of transportation has never been more urgent. Indian EV startups have seized this necessity as a prime opportunity to innovate and lead the charge in green mobility. For instance, Ather Energy’s flagship electric scooter, the Ather 450X, boasts of a high-performance lithium-ion battery that offers a range of up to 85 kilometers on a single charge. It also comes equipped with smart connectivity features, such as navigation, remote diagnostics, and over- the-air updates, providing users with a seamless and connected mobility experience. 30 | www.insightssuccess.in June, 2024 31 | www.insightssuccess.in June, 2024

Impact on the Economy and Society Moreover, advancements in battery technology are addressing one of the primary concerns of potential EV buyers – range anxiety. The development of high-capacity batteries and rapid charging solutions is making long- distance travel more feasible and reducing downtime associated with recharging. Companies like Ultraviolette Automotive are pushing the envelope with electric motorcycles that offer extended ranges and high-speed capabilities, proving that electric vehicles can compete with and even surpass their traditional counterparts in performance and reliability. The rise of Indian EV startups is having a profound impact on both the economy and society. By fostering a new industry that focuses on sustainable practices and cutting- edge technology, these startups are generating employment opportunities, attracting investment, and driving economic growth. The EV sector is expected to create millions of jobs in manufacturing, research, and services, contributing significantly to the nation’s GDP. Furthermore, the shift towards electric mobility is helping to improve air quality and reduce greenhouse gas emissions, addressing some of the most pressing environmental challenges facing the country. By making transportation more sustainable, these startups are not just changing the game in the automotive industry but are also paving the way for a healthier and more resilient future. Building the Ecosystem: Infrastructure and Partnerships The success of the EV sector in India hinges not just on the vehicles themselves but also on the supporting ecosystem. Indian EV startups are actively working to develop a robust infrastructure that includes widespread charging stations, efficient battery-swapping networks, and integrated digital platforms. This holistic approach ensures that the transition to electric mobility is seamless and sustainable. Challenges and the Road Ahead While the progress of Indian EV startups is commendable, the journey is not without challenges. High initial costs, limited charging infrastructure, and consumer skepticism remain significant barriers to widespread adoption. However, the relentless pursuit of innovation and the commitment to building a supportive ecosystem are gradually overcoming these hurdles. Collaborations and partnerships are playing a crucial role in this endeavor. Startups are teaming up with government bodies, energy companies, and tech firms to expand the charging infrastructure and develop innovative solutions for battery management and energy distribution. For example, Tata Power has partnered with several EV manufacturers to establish a network of EV charging stations across the country, ensuring that users have convenient access to charging facilities. The future of the EV sector in India looks promising, with continued advancements in technology, growing consumer awareness, and strong government support. As more startups enter the fray and established players join the movement, the transition to electric mobility is set to accelerate, transforming the landscape of Indian transportation. Government Support and Policy Initiatives The Indian government’s commitment to promoting electric mobility is a key driver of the rapid growth in the EV sector. Policies such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme and various state-level incentives are providing financial support to both manufacturers and consumers, making electric vehicles more affordable and attractive. The Journey Begins Indian EV startups are rewriting the rules of the automotive industry, demonstrating that going green and gearing up for the future can go hand in hand. By embracing innovation, fostering sustainability, and creating a supportive ecosystem, these companies are not only changing the game but are also driving a revolution that promises to reshape the way we move. As they continue to push the boundaries of what is possible, the rise of Indian EV startups marks a new era of transportation that is cleaner, smarter, and more accessible to all. These initiatives are complemented by regulatory measures aimed at reducing emissions and encouraging sustainable practices. The government’s vision of achieving 30% electric vehicle penetration by 2030 is a bold target that underscores its dedication to a cleaner and greener future. This policy support not only incentivizes innovation but also creates a conducive environment for startups to thrive and scale. 32 | www.insightssuccess.in June, 2024

Electric Vehic Internal Combustion les vs. Engines I n recent years, the automotive industry has witnessed a significant shift towards more sustainable and environmentally friendly transportation options. Electric vehicles (EVs) have emerged as a viable alternative to traditional internal combustion engine (ICE) vehicles. This comparative analysis aims to examine the key differences between electric vehicles and internal combustion engines, taking into account various aspects such as environmental impact, cost, performance, and infrastructure. Overall Effect One of the most significant factors driving the adoption of electric vehicles is their reduced environmental impact. EVs produce zero tailpipe emissions, which means they do not release harmful pollutants like carbon dioxide (CO2), nitrogen oxides (NOx), and particulate matter. This reduction in emissions contributes to improving air quality and mitigating climate change. In contrast, ICE vehicles burn fossil fuels and release these pollutants into the atmosphere, contributing to air pollution and global warming. A Comparative Analysis Additionally, the environmental benefits of EVs can be further enhanced when the electricity they use is generated from renewable sources like wind or solar power. This transition to cleaner energy sources can significantly reduce the carbon footprint associated with electric vehicles. 34 | www.insightssuccess.in June, 2024 35 | www.insightssuccess.in June, 2024

Cost of Ownership rapidly, and high-performance electric vehicles are becoming more common. The cost of ownership is a crucial consideration for consumers when choosing between EVs and ICE vehicles. While the upfront cost of electric vehicles is generally higher than that of traditional vehicles, there are several cost-related factors to consider. Environmental Impact: Emissions: Beyond just tailpipe emissions, the entire lifecycle of a vehicle should be considered. While EVs produce no tailpipe emissions, the manufacturing process of their batteries does have an environmental impact. However, as battery technology improves and becomes more sustainable, this impact is expected to decrease. Fuel and Maintenance: Electric vehicles are more energy- efficient and have lower operating costs than ICE vehicles. EV owners save money on fuel as electricity is typically cheaper than gasoline or diesel. Moreover, EVs have fewer moving parts and require less maintenance, leading to lower maintenance and repair costs over the vehicle's lifetime. Resource Utilization: The production of lithium-ion batteries, which are commonly used in EVs, relies on the extraction of minerals like lithium and cobalt. Sustainable mining practices and recycling initiatives are being developed to mitigate the environmental impact of resource extraction. Government Incentives: Many governments offer incentives such as tax credits and rebates to promote the adoption of electric vehicles. These incentives can offset the higher initial purchase price and make EVs more affordable for consumers. Resale Value: EVs tend to have better resale value compared to ICE vehicles due to their lower maintenance costs and the perception of being more environmentally friendly. Cost of Ownership: Fuel Costs: The cost of electricity is generally lower than that of gasoline or diesel, resulting in significant fuel savings over the lifetime of an EV. Charging Infrastructure Maintenance: EVs have fewer moving parts, reducing the need for maintenance. ICE vehicles require regular oil changes, transmission repairs, and more, which can add up over time. Charging infrastructure is a critical factor in the widespread adoption of electric vehicles. While ICE vehicles can be refueled at gas stations almost anywhere, the availability of charging stations for EVs varies by region. In urban areas, charging infrastructure is generally more accessible and convenient. However, rural areas and regions with limited charging infrastructure may pose challenges for EV owners, especially during long trips. Depreciation: EVs tend to depreciate at a slower rate compared to ICE vehicles, partly due to their lower operating costs and the growing demand for electric vehicles. Charging Infrastructure: To address this issue, governments and private companies are actively investing in expanding the EV charging network to make it more accessible and convenient for users. Fast- charging stations are also being developed to reduce charging times, making EVs a more viable option for long-distance travel. Charging Speed: Fast-charging technology is improving, allowing EVs to charge more quickly. Some EVs can gain a significant amount of range in just 30 minutes of charging, but the availability of fast chargers varies by location. Home Charging: EV owners can charge their vehicles at home using a standard electrical outlet, making it convenient for daily use. This contrasts with ICE vehicles, which require visits to gas stations. Performance Performance is another area where EVs and ICE vehicles differ. Electric vehicles are known for their instant torque and smooth acceleration. They offer a quiet and smooth driving experience, with no engine noise. ICE vehicles, on the other hand, may have a broader range of options in terms of power and performance, including high-performance sports cars and heavy-duty trucks. However, EV technology is advancing 36 | www.insightssuccess.in June, 2024

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India's 5 Most Promising E-Mobility Companies 2024

India's 5 Most Promising E-Mobility Companies 2024

Presentation Transcript

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