Instead of being an OEM, Sampoorn EV is an impartial platform that supports consumers and the whole ecosystem of the electric vehicle industry, allowing any small but significant participant to get a piece of the anticipated rise in demand over the next three to seven years. Sampoorn EV does not have a vested interest in any one product; rather, the company is interested in the EV industry as a whole, and as such, all of its efforts are directed towards improving the sector. Sampoorn EV offers all current players and aspiring players full help and handholding in accordance with their desire on all of these pillars or any pillar that is particularly asked.
In a recent interview, Abdullah interacted with Vikas Gupta, Founder & MD, Sampoorn EV in which he discussed about the prospect for EV subsidies, lithium ion v/s lead acid batteries in terms of longevity, ease of maintenance, performance and benefits of hybrid solar systems.
Could you elaborate on the general effects of the EV subsidies on electric vehicles?
The introduction of the fame subsidy brought a gate requirement: 70% of the vehicle had to be indigenous. The battery part was typically excluded. Eligibility was based on the least of two elements: 40% of the ex-showroom price or 20,000 rupees per kilowatt hour of battery. The government capped the ex-showroom price at 1.5 lakh rupees, meaning a maximum subsidy of 60,000 rupees. To claim the maximum, players kept their battery size at 3 kilowatts plus. In June 2023, the government reduced the criteria to 10,000 rupees per kilowatt hour and 15% of the ex-showroom price, but the 1.5 lakh capping remained. and hence maximum subsidy reduced to 22,500. With the fame 2 subsidy ending on March 31, 2024, an intermediary policy was introduced for four months. Eligible players could claim a maximum subsidy of 10,000 rupees per month. Large OEMs like DBS, Ather, Hero, and Bajaj increased their prices by 17,500 rupees, except for Ola, aiming to maintain high revenue. The subsidy reduction would further increase their losses; the subsidy is expected to end after July due to budget constraints, mainly impacting two-wheeler manufacturers like Ola and Ather.
What is the prospect for these EV subsidies going forward?
The subsidy for electric vehicles is set to end, albeit rarely. Two-wheeler sales are divided into two categories: lowspeed, which doesn’t require licensing or registration, and high-speed, which does. Around 3 lakh vehicles are sold, with approximately 2 lakh falling into the low-speed category. As these vehicles aren’t registered officially, precise data is lacking, and estimates are based on industry knowledge. Of the total sales, 70% are low-speed, and 30% are high-speed, with the top 5 players commanding over 85%. Another 200+ players compete in the highspeed category, but their sales constitute only 8%, with the top 10 players making up 92%. Hence, market consolidation is crucial. Sampoorn EV offers an aggregator platform akin to Amazon, welcoming all players to sell, supported by services, financing, and support. This platform aims to consolidate the industry, anticipating a surge in sales to 8-10 lakh vehicles in the next 3-4 years, predominantly through aggregator platforms.
What are the differences between lithium ion and lead acid batteries in terms of longevity, ease of maintenance, and performance?
The lithium-ion battery comes in two chemical compositions: NMC (nickel, magnesium, and cobalt) and LFP (lithium ferro phosphate). NMC batteries typically last 600 to 1200 cycles, equating to about 2 to 4 years of usage, with high power density. On the other hand, LFP batteries have a lifespan of 1200 to 2200 cycles, lasting around 4 to 8 years, albeit with lower density. Lead acid batteries, traditionally used in India, suffer from space constraints, rapid degradation, and a fixed lifespan of 12 to 18 months. Graphene batteries, a purified form of lead acid, require less maintenance and offer improved performance but still have limitations compared to lithium batteries. Initially, the electric two-wheeler market favored lithium batteries due to their qualities but faced setbacks after fire incidents prompted government scrutiny and the implementation of stricter guidelines. Consequently, the price of lithium-ion cells surged, prompting a shift towards lead acid batteries due to stable pricing and reduced dependency on Chinese imports. Currently, around 80% of electric two-wheelers sold use lead acid batteries, especially in lowspeed vehicles, while high-speed vehicles still predominantly utilize lithium-ion batteries. This marks a reversal from the previous trend where lithium batteries held a larger market share.
What benefits might hybrid solar systems offer over more conventional solar or battery systems?
Introducing our latest innovation: lithium-ion battery inverter. We are proud to be the first company to bring this cutting-edge technology to the market. Take a look at its sleek design – compact and stylish enough to be hung in your drying room. Let’s delve into its advantages. Firstly, its size and weight are revolutionary – equivalent to two large lead-acid battery inverters weighing a total of 80 kg, whereas inverter weighs only 18 kg with the battery inside. Its prismatic cell battery ensures high density and a lifespan of up to 12 years, with a warranty of five years at no extra cost. Unlike lead-acid batteries, the grid degradation process is slow, maintaining performance for years. Most notably, it comes with solar panel charging capability, offering versatility and eco-friendliness. Remarkably, all these advantages come at a price comparable to traditional lead-acid battery inverters. With plans to distribute inverter across our dealer network, we’re excited to revolutionize the inverter market