On building a ecosystem for the growing EV Industry; Pranit Parekar, Co-Founder, VTRO
CXOToday has engaged in an exclusive interview with Mr. Pranit Parekar, Co-founder & CTO, VTRO
- Introduce VTRO and highlight the business verticals at VTRO?
VTRO was incorporated in the year 2020, with the vision to shape the future of mobility riding on disruptive technology and offering disruptive end-user benefits and services. VTRO is building an ecosystem to support the growing adoption of EVs rather than merely selling a few EV products. The idea is to create a charging station infrastructure, which will enable owners of EVs to recharge / swap batteries while on the go. The infra will include charging equipment, power supply infrastructure, a mobile app, and the software to manage and monitor the charging process. The setting up of SEV charging station infrastructure is crucial for the widespread adoption of electric vehicles and the growth of the electric mobility industry.
Key business verticals at VTRO will mainly be the battery swap/ charge segment, leveraging a partnership with other EV players to use our charging infrastructure and we will also be manufacturing our EV vehicles. Other than this we will also have peripheral businesses such as paid parking facilities for EVs, on-ground brand collaborations and events etc.
- Define the business plans for VTRO for the next 2 years and long-term vision for the next 5 years.
We are at present in the process of raising Pre-Series A funding which will enable us to provide Energy as a service offering, through our EV charging infrastructure. Setting up more such infrastructures equipped with swapping technologies not only makes EVs more affordable and accessible but will also encourage EV adoption among the masses. Our long-term vision is to create an ecosystem that provides ease and convenience to EV users. In the immediate future, we are collaborating with companies to set up swapping g stations and Bike rental services in Pune and other markets of Maharashtra.
- What are the ongoing initiatives at VTRO and their timeline since inception?
VTRO is building a SAAS platform for the EV eco-system which will include charging swapping stations firmware with IoT to allow the system to communicate in real-time. In the past 3 years, our R&D team has successfully developed a Cloud Platform, Firmware for Battery and Vehicle IoT in addition to sensors which can detect Thermal Runaway faster than any other technology. We have built the entire product architecture and software suitable for the Indian market.
- Will battery swapping/sales be the major business front for VTRO?
Our main sales will be to leverage our software as a service which other peer companies in the EV sector can collaborate and use. The battery technology deployed will help OEMs to use swappable batteries and make the B2B market accessible. So using this technology, OEMs will save costs on R&D and can make a faster entry into the market.
- Explain the benefits of battery charge/swap offering?
The benefits of battery swapping include:
Faster charging: Battery swapping is much faster than traditional charging methods and can take just a few seconds.
Increased driving range: A fully charged battery can provide a longer driving range, making it ideal for long-distance trips.
Convenient: Battery swapping stations are strategically located, making it convenient for EV owners to exchange their batteries.
Cost-effective: Battery swapping can be more cost-effective than traditional charging methods, as it eliminates the need for expensive charging equipment.
Reduced dependence on grid-based charging: With battery swapping, EVs can be charged anywhere and at any time, reducing the dependence on grid-based charging.
Increased vehicle uptime: With battery swapping, EVs can continue to operate even if their batteries are depleted, reducing downtime.
The benefits of charging include:
Convenient charging options: With the growth of the EV charging infrastructure, charging an EV is becoming more convenient, with charging stations available in more and more locations.
- How may designated charging stations / parking spaces do you plan to build?
We aim to build over 2000 EV charging infrastructures in the next 2 years across key markets in Maharashtra.
- Is the concept of battery swapping new in market? How does it help the consumer?
No, the concept of battery swapping is not new to the world. It has been around for a few years and has been used in some electric vehicles. For India, it’s a fairly new concept. The idea behind battery swapping is to provide a quick and convenient way to replace a depleted battery with a fully charged one, without the need to wait for a slow charging process.
- What are the 5 tech tools that VTRO is incorporating to build their EV ecosystem?
- Smart AI Chabot for customer support.
- AI-based KYC system
- RTOS technology for hardware
- Vehicle Control Unit (VCU)
- Battery IOT
