Smart Battery Swapping Startup Esmito partners with ElectricFuel to offer Energy as a Service
Esmito, a Smart Battery Swapping solution Provider has joined hands with ElectricFuel, a leading EV Charging Services Provider, to roll out Energy as a Service (EaaS) platform with an aim to bring affordable, high performance Battery Swapping solutions to the Indian EV market. The operations are currently being rolled out in Bangalore and Hyderabad and will be scaled to pan India in the next 6 months. As part of the partnership, ElectricFuel will serve as an EaaS operator enabled by Esmito's technology comprising of Battery Swap Stations backed by its smart management platform and Mobile App.
With the central and state governments mandating the adoption of EVs for commercial applications in India, the procurement of these vehicles by potential buyers is a big challenge due to higher pricing compared to the equivalent ICE vehicles. Esmito offers an innovative solution to such commercial Fleet users wherein users of Electric vehicles can swap out their used batteries at a swapping station without having to wait for charging time or needing to carry spare batteries for each vehicle.
Esmito will become ElectricFuels's tech partner and provide the stack of products to enable ElectricFuel as an EaaS operator. The partnership not only helps delivery partners to spend up to 40% lower upfront cost, but also lowers their operational cost of fuel to about one third of the conventional fuel. The end customers will benefit from this tie-up, and this will go a long way to fulfil India's goal of transitioning towards clean transportation as quickly as possible.
Commenting on the partnership, Dr Prabhjot Kaur, Co-Founder, Esmito says, "Our swap technology is focused on providing high performance and safest energy to EVs, especially to the 2-wheelers and 3-wheelers community. The technology enables 24X7 management of battery's safety, its utilization with overall increased operational efficiency aiding in faster adoption of EVs in this segment. We are very proud to partner with ELectricFuel, who are aiming to deploy this Battery Swapping infrastructure across geographies. We look forward to many more tie-ups and see to fulfil our vision to bring in the best Indian technology to move towards cleaner mobility."
"We are today market leader in offering end-to-end EV Fleet Charging services to our clients and aim to continuously enhance our portfolio of services in the fast growing EV sector. With this partnership with Esmito, we can now offer fully automated Battery swapping solutions to a larger customer base in both fleet & passenger segments. It is a value addition to our existing services and helps us in further enhancing utilization of our Charging infrastructure" says Sitapathy Chavali, CEO & Co-Founder of ElectricFuel.
Esmito's technology provides swap stations integrated with smart batteries and cloud platforms and apps. The company has a strong tie-up with IIT Madras for technology development and validation of products, keeping them abreast of the new revolutionary developments in the field.
Esmito has full stack products that can enable an operator to be a BaaS operator. The key products of this offering by Esmito comprise of Smart swap station, batteries and cloud that manages the operations. The cloud platform is a combination of operator platform to view all the operations, business transactions, utilization and asset safety at one common window, and user's app to navigate to nearby stations, swap the batteries, make payments as and when needed. The users of Esmito's offering benefit from quick refuelling of the vehicle; don't need to wait for charging of the batteries, replacement of the batteries, and servicing and warranty challenges. The operator is responsible to erect the stations at the demand side and enable exchange of users, discharge battery with charged battery at predefined rates. Esmito's products are very smartly designed to monitor the health of the batteries and every transaction of each user/battery is recorded in the system.
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