Kartikey Hariyani, CEO of Charge Zone, an EV charging infrastructure company in India, speaks about his experience funding the company, the EV charging landscape in India and how to develop and grow in this dynamic market.
[00:00:00] Hi, I'm Ben. Welcome to Sustainable Energy Asia Podcast. EO has been taking a break. Today, my guest is Kartikey Hariyani, CEO of ChargeOn, an EV charging infrastructure company in India. We discuss about the EV mobility markets, the fast charging landscape in India, and Kartikey's experience developing his startup in this space. As always, grateful if you could take the time to rate and comment on the show. It helps listeners to find us. Thanks and on with the show.
[00:00:28] Welcome to the show, Kartikey. Could you introduce ChargeZone and your company business model?
[00:00:35] Hi, thank you, Benjamin. Thank you for having me here today.
[00:00:39] Quickly on what we are building as ChargeZone in India is essentially focusing on high-speed EV charging network across urban pockets as well as on highways to enable intercity e-mobility that includes personal mobility, electric cars, commercial vehicles such as electric buses and electric trucks.
[00:00:57] And this entire vision got created just before COVID in the year 2019, when the Indian government set aside several policies to the build-up of EV ecosystem in the country.
[00:01:09] And since then, our business model is exactly the same. What we are out as a mission is to provide EV charging as a reliable EV charging service for EV customers.
[00:01:18] In other words, we sell electrons and not molecules. So essentially, we are building up the gas stations for the future, which are nothing but high-speed or super-characterial across the network in the country.
[00:01:29] So today, we have an employee base of more than three, that equals engineer, techie, maintenance, other professions, and managing more than 5,000 per starting point in the country.
[00:01:38] We have also electrified more than 30,000 kilometers of highways. And the best part is that we are just not serving electric cars, but also intercity buses.
[00:01:46] You mentioned you created ChargeZone in 2019. Could you tell us a bit more about what was your personal story founding this company? If you can share a bit more about the background?
[00:01:56] Yeah, absolutely. So, well, I had a chance to study electrical engineering a couple of decades ago. And having worked in L&D, which is one of the India's largest conglomerate.
[00:02:05] I was used in Munich for a few years, and really got a lot of insights into automotive engineering aspects as well.
[00:02:11] And in 2010, I sat on my own and started with renewable energy. I've been an EPC player myself.
[00:02:17] It's still a much-sized business, helping customers install solar photovoltaics rooftops, latest-scale projects, a bit of energy storage.
[00:02:24] But we always had a dream of creating an energy transition plan. And honestly, we didn't have much of a connect with the world of priority equity.
[00:02:32] Being a budgetary entrepreneur, it had its own limitation in terms of a trustee capital.
[00:02:36] However, in 2010, we were about to start our energy platform, renewable energy platform under the OPEX model for rooftops and all.
[00:02:44] But then suddenly the EV ecosystem got our attention, and EV charging infrastructure was the closest thing that we could help out.
[00:02:50] Over the last 10 to 15 years, as a team, we have built expertise around applied electrical engineering.
[00:02:56] We also understand the business of electricity. There are a lot of things in that we don't understand.
[00:02:59] But definitely, one thing that we understand is electricity and technology.
[00:03:04] And I think the combination of both helped to create the vision of that.
[00:03:07] Okay, well, that's fantastic. You saw the opportunity and just decided to go for it, right?
[00:03:12] And it'd be interesting if you can also contextualize a bit the EV mobility landscape in India and explain what are the elements that are supporting child-zone development within this country.
[00:03:23] The landscape of remobility in India is unlike any other countries where generally the four-wheelers, they rule the market.
[00:03:31] Since 2016, 2017, when there was an early indication by the Indian government for launching various schemes for reduction of EV,
[00:03:40] it was a two-wheelers and three-wheelers, which were the first.
[00:03:42] There are more than a million elected two-wheelers already on the road.
[00:03:45] And there are around half a million three-wheelers or tuk-tuk-s as you call it.
[00:03:47] We call it rich-adwar-eating country.
[00:03:49] And also the commercial Alpine Carbohu vehicles, they kind of emerged into the scene.
[00:03:54] And it was only in late 2020, we saw the emergence of electric cars and buses and trucks on the Indian roads.
[00:04:02] Now, today, the landscape is very clearly divided amongst these segments of two-wheelers, three-wheelers, and four-wheelers.
[00:04:08] Government support of viability gap funding or subsidy as we call it has also helped segments like two-wheelers and three-wheelers to really scale up.
[00:04:17] Big time, and as a result, various OEMs such as the Jagge Auto, PBS, all-electric, Ampere, etc., they all emerged during the last four to five years.
[00:04:24] However, I'm personally going to talk about the commercial mobility.
[00:04:28] Because India's energy dependence fueled by the mobility department is massive.
[00:04:34] We import roughly $200 billion worth of kudal every year.
[00:04:37] And some of the estimates indicate that by 2030, if we electrify 30% of new vehicles as electric, then we'll save roughly $45 billion worth of kudal.
[00:04:47] That will translate to, you know, funding our education and healthcare budget of the country.
[00:04:51] And that is not only one time, it's going to be recurring.
[00:04:53] I'm glad that the government's priorities are pretty clear, aggressive on the adoption of PV.
[00:04:58] And one of the dominants in the market has been the electric buses for various intercity applications.
[00:05:04] And it contributes to lesser emissions, but it also contributes to being noiseless as well.
[00:05:09] And it is a very high underestimated issue in the society today.
[00:05:14] Having a lesser noise pollution, I think, is also a need of power as much as lesser carbon footprint.
[00:05:18] And last but not least, it also reduces box emission, which is also affecting human health in a pretty negative way.
[00:05:24] So, I would say the train has not been decision.
[00:05:26] The e-mobility market in India is currently meditative.
[00:05:29] And I think in the year 2025, we believe that we'll get closer to the infection point.
[00:05:34] That's really interesting.
[00:05:35] You know, when mentioning about India's dependence to energy, that is a similar driver that I see in China.
[00:05:42] China had a huge dependence in terms of energy and wanted to leapfrog.
[00:05:46] I can see that in India today, actually, we're also going to the same direction.
[00:05:50] So, that's really encouraging.
[00:05:52] If you can explain why those public charging infrastructure make sense in India,
[00:05:57] and what are the main barriers that you see today for EV transport, electrification, and adoption?
[00:06:03] It's clear that EV charging infrastructure is the key for the adoption of e-mobility.
[00:06:08] And I think that it's no longer a chicken and egg question anymore.
[00:06:11] The insurance need to come first.
[00:06:12] Looks like you build highways, but the trucks or buses can't move.
[00:06:15] It's actually an instant.
[00:06:16] Except that during our journey over the last 50, 75 years,
[00:06:19] we never realized that the gas station network equally had a very similar check.
[00:06:22] The challenges were related to the transportation fuel.
[00:06:26] The gas stations are not connected by the grid.
[00:06:28] They are individually, you know, rigs-hulled every day in the morning or in the evening and so on.
[00:06:33] It's just that it is not visible because maybe over the last 30, 40 years,
[00:06:36] that business model became very, very matured.
[00:06:38] It was also backward integrated with larger refineries.
[00:06:42] Oil and gas players had typically very high gloss margins in terms of end-to-end integrated play.
[00:06:48] Now, when it comes to EV charging, it's all coming back again.
[00:06:51] We are resetting, rebooting from beginning.
[00:06:53] And everything is being built from scratch.
[00:06:55] Whether it's a vehicle, whether it's a charger,
[00:06:57] whether it's another storage grid, charging network, and so on.
[00:07:01] And therefore, in the Indian market,
[00:07:03] the EV charging segment is divided into two major segments.
[00:07:07] That is what we call as captive charging for fleets.
[00:07:11] And fleet of buses, fleet of cars, etc.
[00:07:13] And then there is public charging meant for personal mobility, as I said earlier,
[00:07:17] but also other new emerging segments in India,
[00:07:19] such as intercity versus intercity trucks.
[00:07:22] Now, therefore, EV charging business is a capacity.
[00:07:26] It's highly decentralized.
[00:07:27] It's depending upon the grid.
[00:07:28] Also, questions are there on how much of our integration that you want to do.
[00:07:31] Because there is no really a tier buy-in about EVs
[00:07:34] unless EV charging is powered by renewable energy.
[00:07:37] Which is true, by the way.
[00:07:38] When we talk about zero emission vehicles,
[00:07:40] it means that it has to start from well to win.
[00:07:43] So, well, in this case, it don't exist.
[00:07:44] Those are solutions to solar farms or wind turbines,
[00:07:47] which powers up electricity all the way to the winds of the vehicle.
[00:07:51] So, my career is the EV charging segment in India
[00:07:54] is followed by various challenges and obstacles and opportunities.
[00:07:57] At Charbu, we created a four-layer strategy.
[00:07:59] We call it two hardware and two software layers.
[00:08:01] The first hardware layer is a real estate.
[00:08:03] The locations are the key.
[00:08:04] Followed by the power infrastructure.
[00:08:06] That forms the first hurdle.
[00:08:07] As you know, the power infrastructure are generally high-tension,
[00:08:10] high-voltage, transformers, switchgears, switchgears, switchgears, and so on.
[00:08:13] And then the second hardware layer is a charger itself.
[00:08:16] So, both these hardware layers,
[00:08:18] they contribute to brick and mortar of EV charging net.
[00:08:21] The third layer is your CMS or the power charge cloud,
[00:08:23] which is an operating system which runs the EV charging net.
[00:08:26] And the second software layer is the app for the UXP, the UI UX.
[00:08:30] So, if you put all these four layers together,
[00:08:33] it becomes an integrated play.
[00:08:34] And I'm glad that we found our mojo much early on in our journey
[00:08:37] that to deliver EV charging as a service
[00:08:39] or to send it across to customers,
[00:08:41] you've got to be in control of all these four layers.
[00:08:44] And yeah, we are one of the few companies globally
[00:08:46] that has a fully vertically integrated play
[00:08:48] for supercharging net for the internet market.
[00:08:51] That's really interesting.
[00:08:52] We're focusing also on charging.
[00:08:54] Can you present to us,
[00:08:55] like, who are your main competitors today in India?
[00:08:58] And what do you see are your competitive advantage
[00:09:01] in these markets?
[00:09:03] So, the main competitors,
[00:09:04] I'll count through companies such as
[00:09:06] GOBP, such as Startup Power.
[00:09:08] Then we have oil and gas companies such as
[00:09:10] Indian Oil, Maratetroleum, HBCL.
[00:09:12] You know, these are the companies
[00:09:13] who will be in direct competition.
[00:09:15] There are also some aggregated platforms,
[00:09:17] you know, such as Static.
[00:09:18] We'll be bringing in more demand
[00:09:20] for the CPUs like this.
[00:09:22] At the end of the day,
[00:09:23] it's very important that as a CPU,
[00:09:24] you need to have your priorities very clear.
[00:09:27] You need to have your vision very clear.
[00:09:28] We found some of the new startups
[00:09:30] dabbling with the monthly check.
[00:09:32] They're also trying to be CPOs.
[00:09:33] They're trying to pivot towards
[00:09:34] said two wheelers and three wheelers,
[00:09:36] which is a slow chart,
[00:09:37] which is a small charging point and so on.
[00:09:39] I think one needs a clarity of startups
[00:09:42] and how clearly you visualize what you want.
[00:09:45] Charging business, as I mentioned,
[00:09:46] is the only decent list.
[00:09:47] Large company, large oil and gas company
[00:09:49] may not have any problem
[00:09:50] building a $1 billion or $10 billion panel.
[00:09:53] But to put a thousand charging points
[00:09:55] at different places in a large country
[00:09:57] like India,
[00:09:58] there's definitely a big, big challenge.
[00:09:59] You've got to be fast.
[00:10:01] You've got to have, as I said,
[00:10:02] fully vertically integrated play.
[00:10:04] The complete control on the tech side,
[00:10:07] your immunity to create solar man,
[00:10:08] micro or mini-grids,
[00:10:09] for powering or charging stations
[00:10:11] and initial storage and so on.
[00:10:12] So this entire challenge
[00:10:14] of rolling out
[00:10:16] multiple charging stations
[00:10:17] across from
[00:10:19] 120,000 kilometers of highways
[00:10:20] is not everybody's quality.
[00:10:22] And we haven't got here overnight.
[00:10:24] It has taken us 85 years,
[00:10:26] including the COVID dropout
[00:10:28] that happened in between as well.
[00:10:29] But particularly last three years
[00:10:30] were very, very many.
[00:10:32] And today,
[00:10:32] we are one of the most recognized
[00:10:34] plan in the country.
[00:10:35] Not as much as we have
[00:10:37] a larger size of the shuttle here,
[00:10:38] but we are also very close
[00:10:40] in terms of collaboration
[00:10:42] and partnerships
[00:10:42] with various automotive OEMs.
[00:10:44] There's not a single
[00:10:45] automotive OEM.
[00:10:46] who have not taken our network
[00:10:48] onto their customer connect
[00:10:50] on their entertainment system
[00:10:51] and their vehicles and so on.
[00:10:52] So there's really a lot of excitement
[00:10:55] at Charlesville in terms
[00:10:57] of increasing the network size.
[00:11:00] And today,
[00:11:01] we are rolling out
[00:11:01] on average one charging station a day.
[00:11:03] And that is what we like
[00:11:04] to really maintain the momentum
[00:11:06] as we enter into the new area.
[00:11:08] And what is your value proposition
[00:11:12] to the users?
[00:11:13] How do they differentiate
[00:11:14] in that aspect?
[00:11:15] It's a good question, Benjamin.
[00:11:16] The value proposition
[00:11:17] has always come across
[00:11:19] in terms of the reliability
[00:11:21] of EV charging.
[00:11:23] Let me put it in the same way.
[00:11:24] EV charging as an experience
[00:11:26] is our mode
[00:11:27] or is only our stuff.
[00:11:29] And honestly,
[00:11:29] we are trying to be
[00:11:30] very, very unreasonable.
[00:11:31] You know,
[00:11:32] it's very easy to say
[00:11:32] to be reasonable,
[00:11:33] but it's very difficult
[00:11:34] to say that you are unreasonable.
[00:11:35] We are completely unreasonable
[00:11:37] and very, very much,
[00:11:38] you know, obsessed
[00:11:39] with creating a stable
[00:11:42] and a reliable EV charging
[00:11:43] experience for the customer.
[00:11:44] I, if you really see
[00:11:46] social media these days
[00:11:47] are flooded with
[00:11:48] a lot of complaints
[00:11:49] on reliability
[00:11:49] of EV chargers.
[00:11:51] More than the rain and anxiety,
[00:11:52] it's the reliability
[00:11:52] and that it is.
[00:11:54] And therefore,
[00:11:55] to create this experience,
[00:11:56] we decided to go
[00:11:58] and pick up
[00:11:58] the best of the locations
[00:11:59] in the country.
[00:12:00] If you find
[00:12:01] Charger Zone Charger,
[00:12:02] it will be by default
[00:12:03] surrounded by all amenities.
[00:12:05] It will be at a coffee shop
[00:12:06] or a mall
[00:12:07] or a restaurant
[00:12:08] on a highway
[00:12:08] and so on.
[00:12:09] And the second part
[00:12:10] has,
[00:12:10] and what we have been working
[00:12:11] is on the reliability
[00:12:12] to create
[00:12:13] kind of 100%
[00:12:14] if not uptime.
[00:12:15] But we just think
[00:12:16] how are you
[00:12:17] thinking about
[00:12:18] where to
[00:12:19] locate your charging point
[00:12:21] and could you share
[00:12:22] a bit more
[00:12:22] about your strategy
[00:12:24] around locating
[00:12:25] all the charging points
[00:12:26] and how you develop
[00:12:27] the new location?
[00:12:28] So,
[00:12:29] most of the locations
[00:12:30] are, as I said,
[00:12:31] in the partnerships
[00:12:31] with the current
[00:12:32] or existing
[00:12:33] real estate players.
[00:12:33] And this is,
[00:12:35] I think,
[00:12:36] significantly
[00:12:36] the biggest advantage
[00:12:38] that we can offer
[00:12:38] to our EV customers.
[00:12:40] Typically,
[00:12:40] an EV charging experience,
[00:12:41] as I said,
[00:12:42] lasts for 20 to 30 minutes.
[00:12:43] That's a typical pit stop
[00:12:44] when EV customer takes it.
[00:12:46] And this is very unlike
[00:12:47] compared to IC vehicles
[00:12:48] at our region.
[00:12:49] And those 20 minutes
[00:12:50] are so important
[00:12:51] that you need to really offer
[00:12:51] as a coffee
[00:12:54] or a quick snack
[00:12:56] and so on.
[00:12:57] So,
[00:12:57] our location
[00:12:58] has always
[00:13:00] been a host
[00:13:01] to all kinds
[00:13:02] of amenities
[00:13:03] that we've made
[00:13:04] for our world.
[00:13:05] And this is,
[00:13:05] I think,
[00:13:06] the single most
[00:13:07] differentiation
[00:13:08] that we have made
[00:13:08] in our industry.
[00:13:10] Secondly,
[00:13:11] it's a spiral nip.
[00:13:12] At the end of the
[00:13:13] Benjamin,
[00:13:13] this is not the business
[00:13:14] of creating
[00:13:14] 20-stack stage
[00:13:15] or 200-stack stage.
[00:13:16] If you're not
[00:13:17] visualizing yourself
[00:13:18] perhaps creating
[00:13:18] a 10-th problem
[00:13:19] statement
[00:13:19] in the next week
[00:13:21] to seven years,
[00:13:21] I don't think
[00:13:22] you are in business.
[00:13:23] And this number,
[00:13:24] which means that
[00:13:25] you're going to
[00:13:25] to roughly 60,000
[00:13:27] customers every day.
[00:13:28] And this becomes
[00:13:29] easily a billion-dollar
[00:13:30] business
[00:13:31] in terms of
[00:13:32] annual sales.
[00:13:32] And,
[00:13:33] of course,
[00:13:33] good,
[00:13:34] double the gate
[00:13:35] profitability
[00:13:36] at the percentage
[00:13:37] that you're aiming.
[00:13:38] So,
[00:13:39] but it all starts
[00:13:40] in how you
[00:13:42] design
[00:13:43] everything
[00:13:43] at an early stake.
[00:13:44] And I'm glad that
[00:13:45] as I mentioned
[00:13:46] earlier,
[00:13:46] we as a team
[00:13:48] were able to go
[00:13:49] through a very steep
[00:13:49] learning over the
[00:13:50] last three years.
[00:13:51] It has taken a lot of time.
[00:13:52] But at the same time,
[00:13:53] as you all know,
[00:13:53] good things don't come easy.
[00:13:54] They don't come fast.
[00:13:56] And you've got to have
[00:13:57] a very patient-building
[00:13:58] approach.
[00:13:58] It's a marathon
[00:13:59] that you create
[00:14:01] the charging network
[00:14:02] in a stepwise
[00:14:03] stepwise manner.
[00:14:05] Also,
[00:14:06] the need of an hour
[00:14:07] is no longer
[00:14:08] high-speed charging.
[00:14:09] It is a super charging
[00:14:10] because
[00:14:10] as the battery size
[00:14:12] increases,
[00:14:12] the C rating
[00:14:13] of the vehicles
[00:14:13] they do.
[00:14:14] And as I said earlier,
[00:14:15] the commercial mobility
[00:14:16] is what we are
[00:14:17] equally excited about.
[00:14:19] The super charging
[00:14:19] stations,
[00:14:20] they support
[00:14:21] both personal mobility
[00:14:22] and commercial.
[00:14:23] And unlike
[00:14:24] other countries,
[00:14:25] there is never
[00:14:25] a formula
[00:14:27] for the Indian market.
[00:14:28] You need to really
[00:14:28] create a very
[00:14:29] custom-built strategy
[00:14:30] and operational
[00:14:31] plan in terms of
[00:14:33] developing the
[00:14:34] CV charging
[00:14:34] business.
[00:14:35] No CQ in the world
[00:14:36] is profitable
[00:14:37] and it is certainly
[00:14:39] not a very good sign
[00:14:39] except for Tesla
[00:14:40] because they have
[00:14:41] their own captives.
[00:14:43] What I understand
[00:14:43] from some of the data
[00:14:44] from Bloomberg
[00:14:45] that their business
[00:14:46] is more than $2 billion
[00:14:46] a year,
[00:14:47] which is still
[00:14:48] a guesstimate,
[00:14:49] I guess,
[00:14:49] because they don't
[00:14:50] report those numbers
[00:14:51] separately on the
[00:14:51] balance sheet.
[00:14:52] But having said that,
[00:14:54] it is important
[00:14:54] that the super charging
[00:14:56] network supports
[00:14:57] all kinds of vehicles
[00:14:57] and commercial vehicles
[00:14:58] will have very high
[00:14:59] asset utilization ratio
[00:15:01] and therefore
[00:15:01] it's an opportunity
[00:15:03] by itself
[00:15:03] to increase
[00:15:04] the utilization factor
[00:15:06] of the EV charging station.
[00:15:07] And you mentioned
[00:15:08] as well about
[00:15:09] the two layers
[00:15:10] of software.
[00:15:11] If you can describe
[00:15:12] a bit how you're
[00:15:13] using data
[00:15:13] within your company,
[00:15:15] so you mentioned
[00:15:15] about the app,
[00:15:16] about the CMS
[00:15:17] and if you can
[00:15:18] maybe develop
[00:15:19] a bit further
[00:15:20] how you're
[00:15:21] optimizing that
[00:15:22] and create value
[00:15:23] for the users
[00:15:24] but also
[00:15:25] the other stakeholders
[00:15:26] that are involved
[00:15:27] in your business.
[00:15:28] The technology part
[00:15:29] generates data.
[00:15:31] As we all know
[00:15:31] that EV charging stations
[00:15:33] are on-band.
[00:15:34] There on the back end
[00:15:34] there is an operating system
[00:15:35] that runs this network.
[00:15:37] So it's clear
[00:15:37] that there's a lot
[00:15:38] of data which is generated.
[00:15:39] Now, unfortunately,
[00:15:40] in EV charging,
[00:15:41] the data generated
[00:15:42] is very, very important.
[00:15:43] All we understand,
[00:15:44] all we know
[00:15:45] is a purchase taken
[00:15:45] by a customer
[00:15:46] and our charging station.
[00:15:47] What is the charging station?
[00:15:48] What time is spent?
[00:15:49] What units were consumed?
[00:15:51] And that's it.
[00:15:52] And therefore,
[00:15:53] how do you play it out
[00:15:54] in terms of this limited data?
[00:15:56] How do you now
[00:15:57] move forward?
[00:15:58] How do you
[00:15:58] make the best of this?
[00:16:00] So in comes
[00:16:01] the OEM partnership
[00:16:01] and what we have encouraged
[00:16:03] over OEM,
[00:16:03] automotive OEM partners
[00:16:04] is to provide us
[00:16:05] the data in terms
[00:16:06] of that in terms
[00:16:08] of the behavior
[00:16:09] of the customers.
[00:16:10] Thankfully,
[00:16:11] all EVs
[00:16:12] are cloud-connected vehicles.
[00:16:13] It is not that difficult
[00:16:14] for OEMs
[00:16:15] to run the backend
[00:16:16] analytics in terms
[00:16:17] of the regional behavior
[00:16:20] of the,
[00:16:21] let's say,
[00:16:23] the journey
[00:16:24] or customer journey mapping
[00:16:25] as we call it.
[00:16:26] So that is,
[00:16:26] CGM is funded
[00:16:27] even by the OEMs
[00:16:28] and we tend
[00:16:29] to share
[00:16:30] the selective data
[00:16:31] only to the extent
[00:16:33] that we can
[00:16:34] get the right
[00:16:35] charging station
[00:16:35] on the right
[00:16:36] highway at an application.
[00:16:36] So,
[00:16:38] going forward,
[00:16:39] we are also
[00:16:40] working on
[00:16:41] what we call
[00:16:42] as a preventive
[00:16:43] maintenance
[00:16:44] and schedule maintenance.
[00:16:46] Now,
[00:16:46] this is,
[00:16:46] as I said,
[00:16:47] EV charging experience
[00:16:48] is all about location,
[00:16:50] amenity,
[00:16:50] and that's fine.
[00:16:51] But it is uptime
[00:16:52] and elaborative
[00:16:53] of EV charger
[00:16:53] that really dictates
[00:16:55] the successful year.
[00:16:56] And,
[00:16:57] and all that,
[00:16:58] one way to do this
[00:16:58] is to have
[00:16:59] a very clear,
[00:17:00] full process
[00:17:01] that you have
[00:17:02] established
[00:17:03] for the preventive
[00:17:04] and operational
[00:17:05] maintenance of this.
[00:17:06] and AI definitely
[00:17:07] is a very,
[00:17:08] very significant
[00:17:08] goal here.
[00:17:09] And,
[00:17:10] these are,
[00:17:10] these are some
[00:17:11] of the applications
[00:17:11] that we will see.
[00:17:12] Very niche one,
[00:17:13] which will be,
[00:17:14] which will not be
[00:17:15] very obvious
[00:17:15] there to the consumer.
[00:17:17] But,
[00:17:17] well,
[00:17:18] I think we are all
[00:17:18] working towards
[00:17:19] making this
[00:17:19] as a name
[00:17:20] that consumer
[00:17:21] will be,
[00:17:22] you know,
[00:17:22] really wanting to,
[00:17:23] to go off.
[00:17:24] I think that
[00:17:24] if I were to charge
[00:17:25] my EV,
[00:17:25] I need to go
[00:17:26] to charge
[00:17:26] of communication.
[00:17:27] So,
[00:17:28] we defer all the
[00:17:28] limitations out of the data.
[00:17:30] I think tech
[00:17:30] will still be
[00:17:31] a very central role for it.
[00:17:33] And today,
[00:17:33] what are the main
[00:17:34] challenges
[00:17:35] that you are facing
[00:17:36] to scare your business?
[00:17:38] What have you identified
[00:17:39] as the main
[00:17:40] roadblocks today?
[00:17:41] What has been
[00:17:42] not an average
[00:17:43] year of 2024,
[00:17:44] if you take out China
[00:17:45] from the e-mobility market,
[00:17:47] I'm sure the world
[00:17:48] hasn't performed
[00:17:48] well.
[00:17:49] There have been
[00:17:50] headwinds,
[00:17:50] but what changed
[00:17:52] was over the last
[00:17:53] quarter,
[00:17:53] was the cost of batteries
[00:17:55] which rapidly
[00:17:56] came down
[00:17:56] during 2024.
[00:17:57] We saw the effect
[00:17:57] on the commercial
[00:17:58] angle
[00:17:59] in more competitive
[00:18:00] terms
[00:18:00] in the current
[00:18:02] Q4 quarter
[00:18:03] of the country.
[00:18:03] And this is very
[00:18:04] encouraging
[00:18:05] because just
[00:18:05] before the end
[00:18:06] of this year,
[00:18:07] we are entering
[00:18:07] so just before
[00:18:10] entering
[00:18:10] the new year,
[00:18:12] we are actually
[00:18:13] keep starting
[00:18:14] or we are
[00:18:15] seeing the
[00:18:16] encouraging signs
[00:18:17] of the
[00:18:18] opportunity
[00:18:19] of
[00:18:21] high rate
[00:18:22] of production
[00:18:23] of chargers
[00:18:24] or EV,
[00:18:26] electric vehicles
[00:18:27] across all the
[00:18:28] segments
[00:18:28] in the
[00:18:29] market.
[00:18:29] And I think
[00:18:30] this will
[00:18:30] lead to
[00:18:32] high rate
[00:18:33] of reduction.
[00:18:34] You are
[00:18:34] encouraged
[00:18:35] by more
[00:18:35] or higher
[00:18:36] utilization
[00:18:37] of your
[00:18:37] charging network
[00:18:38] and you'll
[00:18:39] be encouraged
[00:18:39] to expand
[00:18:41] a network
[00:18:41] in high
[00:18:42] density
[00:18:42] zones
[00:18:43] in the
[00:18:43] market.
[00:18:44] And what
[00:18:45] is your
[00:18:45] most memorable
[00:18:46] story in your
[00:18:48] entrepreneurial
[00:18:48] journey with
[00:18:49] chargers
[00:18:49] and you
[00:18:50] can just
[00:18:50] share one?
[00:18:51] Oh,
[00:18:51] well,
[00:18:52] that's a
[00:18:52] different
[00:18:52] question.
[00:18:53] But I
[00:18:54] would
[00:18:54] say
[00:18:54] one of
[00:18:55] the
[00:18:55] most
[00:18:55] memorable
[00:18:55] was
[00:18:56] in
[00:18:56] September
[00:18:56] 2021
[00:18:57] and
[00:18:57] honestly
[00:18:58] there
[00:18:58] was not much
[00:18:58] to do.
[00:18:59] We had
[00:18:59] actually
[00:19:00] bringing up
[00:19:01] our B2B
[00:19:02] vertical
[00:19:02] in the
[00:19:02] downtown.
[00:19:03] Actually,
[00:19:03] we had it
[00:19:04] with a
[00:19:04] street charging
[00:19:04] pub in
[00:19:05] 2019
[00:19:05] and then
[00:19:06] there was
[00:19:06] COVID
[00:19:06] and we
[00:19:07] were
[00:19:07] all
[00:19:07] recovering.
[00:19:08] And so
[00:19:08] in September
[00:19:09] 21,
[00:19:10] actually
[00:19:11] a quarter
[00:19:11] of
[00:19:11] before,
[00:19:12] it took
[00:19:12] a drive
[00:19:13] from Mumbai
[00:19:15] to Ahmedabad
[00:19:15] using
[00:19:16] an air.
[00:19:17] And I'm
[00:19:17] just asking
[00:19:18] myself that,
[00:19:18] well,
[00:19:18] let's see
[00:19:19] what happens.
[00:19:19] You know,
[00:19:20] is the
[00:19:20] rain anxiety
[00:19:21] real?
[00:19:21] And so
[00:19:22] on.
[00:19:22] So when I
[00:19:23] felt that
[00:19:23] rain anxiety
[00:19:24] myself for
[00:19:25] the very
[00:19:25] first time
[00:19:25] and very
[00:19:25] first time
[00:19:26] I was
[00:19:26] driving an
[00:19:27] electric
[00:19:27] front on
[00:19:28] a 500
[00:19:28] kilometer
[00:19:28] stretch of
[00:19:29] highway
[00:19:29] with just
[00:19:30] a couple
[00:19:31] of breaks.
[00:19:31] And I
[00:19:32] shunted
[00:19:32] the need
[00:19:33] of the
[00:19:33] highway
[00:19:34] charging
[00:19:34] myself.
[00:19:35] And
[00:19:35] well,
[00:19:36] we
[00:19:36] electrified
[00:19:37] that highway
[00:19:37] within
[00:19:38] four or
[00:19:38] five
[00:19:38] months.
[00:19:39] So
[00:19:39] of course
[00:19:39] not a
[00:19:39] speed
[00:19:41] charge
[00:19:41] 60
[00:19:41] kilowatt
[00:19:42] and
[00:19:42] 100
[00:19:42] kilowatt.
[00:19:43] And
[00:19:43] we were
[00:19:44] just
[00:19:44] praying
[00:19:44] to God
[00:19:44] that
[00:19:44] one day
[00:19:45] the
[00:19:45] customer
[00:19:45] will
[00:19:46] turn
[00:19:46] on.
[00:19:46] And
[00:19:46] to
[00:19:47] our
[00:19:47] surprise
[00:19:47] on
[00:19:48] V1,
[00:19:48] we found
[00:19:49] some
[00:19:49] customer
[00:19:49] randomly
[00:19:50] turning
[00:19:50] up
[00:19:50] because
[00:19:51] the
[00:19:51] restaurants
[00:19:53] and the
[00:19:53] food
[00:19:53] hubs
[00:19:53] and
[00:19:54] they
[00:19:54] were
[00:19:54] taking
[00:19:54] a
[00:19:55] break
[00:19:55] and
[00:19:55] they
[00:19:55] found
[00:19:55] our
[00:19:55] charger
[00:19:56] and they
[00:19:56] said
[00:19:56] we'll
[00:19:56] never
[00:19:56] like
[00:19:57] to
[00:19:57] charge
[00:19:57] this.
[00:19:59] And
[00:20:00] in
[00:20:00] that
[00:20:01] month
[00:20:01] we
[00:20:02] did
[00:20:02] 200
[00:20:02] customers.
[00:20:03] Today
[00:20:03] on the
[00:20:04] same
[00:20:04] highway
[00:20:04] we
[00:20:04] are
[00:20:04] doing
[00:20:05] 200
[00:20:05] customers
[00:20:06] every
[00:20:06] day.
[00:20:07] Oh
[00:20:07] wow.
[00:20:08] Okay.
[00:20:08] This
[00:20:09] has been
[00:20:09] a very
[00:20:09] momentous
[00:20:10] thing
[00:20:10] for
[00:20:10] us.
[00:20:11] For
[00:20:12] me
[00:20:12] personally
[00:20:12] as
[00:20:12] well
[00:20:12] that
[00:20:13] we
[00:20:13] took
[00:20:13] a
[00:20:13] call
[00:20:14] by
[00:20:14] just
[00:20:15] looking
[00:20:15] at
[00:20:15] the
[00:20:15] business
[00:20:16] case
[00:20:16] ourselves
[00:20:17] experiencing
[00:20:18] the challenge
[00:20:18] ourselves
[00:20:19] that
[00:20:19] why
[00:20:19] high
[00:20:20] rates
[00:20:20] will
[00:20:20] eventually
[00:20:21] need
[00:20:21] EV charging
[00:20:22] network
[00:20:22] going forward
[00:20:23] and
[00:20:23] why
[00:20:23] after
[00:20:24] solving
[00:20:25] why
[00:20:25] the
[00:20:26] anxiety
[00:20:27] will be
[00:20:28] the
[00:20:28] priority
[00:20:29] to solve
[00:20:29] for.
[00:20:30] And
[00:20:30] just
[00:20:30] to
[00:20:31] conclude
[00:20:31] what
[00:20:35] the
[00:20:36] most
[00:20:38] important
[00:20:52] and
[00:20:52] one
[00:20:53] of
[00:20:53] its
[00:20:53] kind
[00:20:54] or
[00:20:54] once
[00:20:54] in
[00:20:55] a
[00:20:55] lifetime
[00:20:55] kind
[00:20:55] of
[00:20:55] occasion
[00:20:56] for
[00:20:56] me
[00:20:56] to
[00:20:59] create
[00:20:59] this
[00:21:00] as
[00:21:00] a
[00:21:00] consumer
[00:21:01] facing
[00:21:01] man
[00:21:01] going
[00:21:02] forward.
[00:21:02] The
[00:21:03] second
[00:21:03] is
[00:21:03] to
[00:21:03] create
[00:21:03] one
[00:21:04] of
[00:21:04] the
[00:21:04] largest
[00:21:04] network
[00:21:05] in
[00:21:05] the
[00:21:05] country.
[00:21:06] And
[00:21:06] it's
[00:21:07] not
[00:21:07] important
[00:21:07] that
[00:21:07] we
[00:21:07] are
[00:21:08] number
[00:21:08] one
[00:21:08] or
[00:21:08] two.
[00:21:09] But
[00:21:09] we
[00:21:09] need
[00:21:09] to
[00:21:10] be
[00:21:10] the
[00:21:10] most
[00:21:10] reliable
[00:21:10] and
[00:21:11] the
[00:21:11] most
[00:21:12] software
[00:21:12] by
[00:21:13] EV
[00:21:13] customers.
[00:21:14] So
[00:21:14] this
[00:21:15] is
[00:21:15] the
[00:21:16] real
[00:21:17] ambition
[00:21:17] going
[00:21:18] forward.
[00:21:18] And
[00:21:18] I'm
[00:21:19] sure
[00:21:19] we'll
[00:21:19] be
[00:21:19] getting
[00:21:20] the
[00:21:20] ways.
[00:21:21] Thanks
[00:21:21] a lot
[00:21:21] for coming
[00:21:23] on the
[00:21:23] show.
[00:21:23] It was
[00:21:23] a pleasure
[00:21:24] speaking
[00:21:24] with
[00:21:24] you.
[00:21:25] Thank
[00:21:25] you
[00:21:25] for
[00:21:25] the
[00:21:26] opportunity.