The world is treading towards sustainable growth, and the Electronic Vehicle (EV) sector is a crucial part of this growth plan. In the past few years, people across the globe have become conscious about their responsibilities as “consumers” and how every action impacts mother nature. Following the sentiments, the year 2020 saw a staggering 39% growth in sales of EVs and a 14% decline in the sale of fuel-based vehicles.
In India, the Electronic Vehicle (EV) sector is at its nascent stage, and the nation aspires to be 100% dependent upon EVs by 2030. The industry needs to move in the right direction with focused energies and shared goals to realise this vision. Despite possessing explosive growth opportunities, and potential beyond our imagination, the sector’s growth pace is impacted by the challenges it faces today. Since the industry is in its initial stage, the players do have an opportunity to leverage technology to give a promising shape to the industry and carry out operations in an organised way.
IoT-based charging stations
The battery-tech aspect of the EV sector will make the industry more exciting by offering innovative charging solutions. With the right technology, charging stations would be able to offer charging per kilometre for as low as 30 paise, making the EVs more lucrative and easy to maintain. As per a recent study, India still needs to build around 4 lakh charging stations to support the future demand of EVs in India. Therefore, it is critical for the players and the Government of India to carefully opt for the right technology at the charging stations.
An IoT based charging station will automate the process of charging, making it quick and effective. A simple QR code insertion will allow users to initiate charging and make payments via digital wallets, UPI id or net banking as suitable. It will also eliminate the need of hiring staff with advanced knowledge to smoothly function the station. Further, the smart charging station can also quickly scan the health of the EV and update the user of any issues, if present. By installing IoT-based intelligent charging stations, players can help users to avoid battery swapping, which is more expensive and time-consuming than charging.
Powerful business insights
Further IoT concepts can be leveraged to build a mobile app for charging station owners to manage the operations effectively. Demand management is a crucial aspect for any business since it is directly related to customer delight. A well-managed demand system attracts more customers, contributing to faster growth. Here, a powerful IoT-based app can be utilized for predictive insights into day-to-day activity at charging stations. It will enable the owner(s) to plan future resource procurement and operation management as per the average increase in demand/customer visits. The app can also help the owner to streamline the existing operations basis real-time information. The app can support business owners with all the relevant information both, current and predictive, to take vital business decisions that can contribute to business success and expansion in a phased manner.
Build seamless B2B infrastructure
In the EV sector, the supply chain has multiple touchpoints, and currently, all are being managed manually by players. While it may seem cost-effective now, how effective it will be in a fast-paced environment is questionable. Therefore, technology platforms or software that help players streamline their transactions can benefit the industry players in the long run. These platforms can help firms record their daily activities or transactions, make their data and ideas more secure and also predict future trends basis past data. An excellent tech platform will empower companies to work smoothly and grow without the fear of embracing sudden changes.
Automated Process Robotics (APR) in EV battery manufacturing
While APR is a popular focus area in the automotive manufacturing sector, it can be equally helpful and effective in manufacturing EVs. For India to become a 100% EV nation by 2030, about 2 million EVs need to be added to fulfil the demand. It means we need more players who can manufacture EVs and the batteries at a breakneck pace. However, to ensure the speed of manufacturing doesn’t compromise on the quality of the products, Automated Process Robotics is an effective solution. The robots, here, take up the mundane tasks and free the manpower for more strategy-based works. Another advantage is that robots can run real-time level one quality tests on the finished products and identify issues for instant correction. This will eventually maximize the speed of manufacturing while the quality will continue to improve effortlessly throughout the process.
Technology is an exciting aspect of the EV sector and battery-tech. It can certainly turn around the entire industry into one of India’s most thriving segments. As the industry players set their ambitions to achieve success, technology cannot be ruled out to empower worthy firms with practical tools and means. In short, technology is the fuel to let the EV battery-tech sector to grow and flourish in an organised way.
By Samridh Singh, Founder and CEO, RIKARICA