India, April 2023: VTRO Motors is disrupting the EV sector with the launch of their AI-based SaaS solution, the ‘EV ecosystem incubator’, tailored to both battery and vehicle manufacturers. This innovative offering is the first of its kind in India and helps monitor battery consumption, life cycle, consumer usage patterns, and other data points, allowing for improved customization and cost reduction. Additionally, VTRO provides scalable charging station infrastructure hardware solutions, completing a comprehensive EV ecosystem package. The roll-out will occur in three phases over the next few months.
Speaking on this, Mr. Pranit Parekar Co-founder & CTO, VTRO Motors Pvt ltd said, “When we developed the software solutions and the charging station infrastructure scalable model, we realized that it would be capital intensive and over strenuous for us to implement it all by ourselves. Secondly, the entire innovative solutions would remain only within our network and not benefit the community at large. So, we decided to pivot our strategy and add a layer of customization to the SaaS offering so that we can collaborate with other EV players in the market in order to build a more efficient, sustainable and economical EV ecosystem. Today we do not have any holistic market intelligence or real time reports on the usage and performance of EVs or batteries or intuitive tracker for consumer preference and needs. We hope our AI solutions will help bridge this gap of market insight in order to enhance the demand-supply chain. We plan to roll out the EV solutions program in three phases – first being an AI SaaS solution for EV batteries, followed by the solutions for EV vehicles and lastly the charging station hardware support.”
VTRO Motors has developed an AI-enabled IoT module that can be fitted to any EV battery in the market. With a preset index of 15+ battery parameters, the module can monitor real-time data on the battery lifecycle, discharging pattern, and consumer usage pattern, among other data points, providing battery manufacturers with critical insights to upgrade the batteries and improve the overall performance and innovation in EV batteries. The IoT module can also predict the thermal runaway with unique cell level tracking technology to prevent fire incidents in the future.
The next phase of the rollout will modify the IoT module to track EV vehicle performance, allowing manufacturers to monitor real-time insights on the durability and adaptability of EV vehicles on different terrains and the consumer usage pattern, leading to possible modifications to enhance the user experience. In the final phase, VTRO plans to launch charging and swapping station hardware support customized to the manufacturer’s requirements.
With the EV sector in India currently valued at $4B and expected to reach $20B in the next 5 years, SaaS solutions like VTRO’s can improve the overall EV sector and mobilize the next phase of growth drivers, especially in non-metros and Tier 3-4 markets. The domestic EV batteries segment, which is valued at $1.5B, is also projected to hit $8B in the next 5 years.