Power Global to set up a 1 GWh battery infrastructure facility in India
In addition to developing a battery plant in Greater Noida, the company aims to retrofit around 8 lakh existing conventional three-wheelers to electric versions in India.
Approximately INR 185 crore (~USD 25 million) will be invested in India by Power Global over the next two to three years to set up a lithium ion battery manufacturing facility and battery swapping facility. Clean energy and mobility products startup Power Global is based in the United States.
The company is planning to set up a battery plant in Greater Noida, Uttar Pradesh, with one gigawatt hour of capacity.
While speaking to media agency, Power Global India CEO Pankaj Dubey shared the company’s plans of rolling out around 4 lakh batteries per annum from this factory. The company expects to begin mass production sometime in quarter three of 2022.
The company also plans to produce retrofitting kits from this plant. As part of this project, the company also intends to upgrade conventional three-wheelers in India to electric models through retrofitted kits. Battery swapping will be offered through a subscription system for these retrofitted vehicles.
Introducing the company’s roadmap, he added that there are about 55 lakh three-wheelers on the road today, most of them diesel, while some are CNG and petrol. In the next 5 to 6 years, the company is planning to convert 15% of that, which is to about 8 lakh vehicles.
According to Dubey, converting a conventional three-wheeler into an electric vehicle costs only a small portion of the cost of these vehicles – in the range of around 2.5 lakhs. The existing vehicles will be converted with a kit in just a few hours.
While explaining the benefits, he stated further that the electric version of the vehicle would save them almost 50 percent on their current income. Also, the company will give them a battery that they can swap anywhere.
He informed further that by selling Power Global’s battery on a subscription basis, Power Global offers lifetime warranties for as long as the customer is a subscriber of the company’s batteries, thus avoiding the need for a replacement battery around every three years.
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