Advanced battery expertise start-up is gearing as much as faucet alternatives throughout the electrical automobile phase. The firm just lately showcased its vary of RapidX batteries for electrical two-, three-, four-wheeler phase for last-mile deliveries on the just lately concluded Green Vehicle Expo 2022, held in Bangalore.
The Green Vehicle Expo was held on the Bangalore International Exhibition Centre from July 1-3. The occasion noticed participation from over 74 starting from OEMs to part suppliers and expertise suppliers. Being the third version, it noticed over 15,000 guests, and the purpose of the occasion was to encourage sustainable, clear mobility consistent with the federal government’s EV imaginative and prescient for India.
Express Mobility spoke to Pankaj Sharma, Co-Founder of Log9 Materials to know extra in regards to the merchandise showcased, potential fundraising alternatives, and plans for the longer term.
The start-up showcased an electrical three-wheeler in partnership with Grevol; a trike named Velocipede from eBikeGo, and an electrical four-wheeler LCV in partnership with Northway Motors, which is claimed to be the fastest-charging retrofitted industrial four-wheeler.
“Log9 is in advanced stages of discussion with various OEMs. The event has allowed us to not only move our discussion further but also showcase the broader range of products that Log9 is building,” mentioned Sharma. The firm utilised the occasion as a platform to interact with fleet operators and aggregators.
The battery expertise startup just lately introduced partnership with cKers Finance to speed up the deployment of electrical autos, Hero Electric to develop instacharging battery packs, and with EKA, an electrical automobile and expertise firm for quick charging battery options, amongst others. Log9 Materials can be working with Indeanta Ventures to deploy 15,000 RapidEVs in India.
To date, Log9 Materials has raised over Rs 150 crore in funding from varied traders together with, cKers Finance, Innoven Capital, Amara Raja Group, Petronas and others.
Responding to a question on the start-ups plans to boost funds, Sharma mentioned, ” These are early discussions, however we’re hopeful that a few of the funding discussions will mature out into ultimate phases sooner or later of time.” The co-founder additionally mentioned that Log9 Materials is trying ahead to working with different corporations with complementary applied sciences and talent units.
“The company is developing multiple new product lines ranging across next-generation two-, three-, and four-wheelers. Log9 is also interested in developing and exploring use-cases for its batteries in heavier vehicle formats such as buses,” added Sharma.
The firm is trying ahead to the upcoming Auto Expo, the place all the vary of merchandise and expertise will probably be displayed, such because the Quanta e-bike, Rage+ RapidEV and Grevol electrical three-wheelers, its full vary of batteries together with the RapidX 2000, RapidX 6000, RapidX 8000, and RapidX 15000, together with the corporate’s stationary vitality storage options vary.
The upcoming Indian Auto Expo is a a lot anticipated occasion because it was hid this yr owing to the pandemic. At the occasion, which is scheduled to be held between January 13 and 18, count on extra EV OEMs and expertise suppliers to showcase a number of growth and upcoming ideas.
Source: www.financialexpress.com”