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Electric Vehicles This Week: TVS Motors Latest Investment, Upgrade In Battery Tech & More

Electric Vehicles This Week: TVS Motors Latest Investment, Upgrade In Battery Tech & More

esVolta has selected ION Energy to improve the operational efficiency of battery energy storage

Ultraviolette Automotive has raised $4 Mn in Series B from TVS Motors

Germany extend support to Elon Musk for Tesla’s new manufacturing plan

US-based esVolta has selected electric vehicles (EV) technology platform ION Energy to improve the operational efficiency of its utility-scale battery energy storage projects. Under the partnership, ION Energy’s battery analytics platform Edison Analytics will be deployed across esVolta’s complete portfolio of battery energy storage projects across 10 locations in North America.

esVolta has a contracted portfolio of 581 MWh of energy storage projects, in addition to a further pipeline in excess of 2,000 MWh. Notably, one MWh (1,000 kWh) is roughly equivalent to the amount of electricity required to power 750 homes for 1 hour. It participates in the capacity, energy arbitrage and ancillary services markets, acting as operating reserves that can quickly be dispatched to ensure sufficient generation to meet the load.

Edison Analytics is a battery analytics platform combining ION Energy’s expertise in batteries with that in data analytics and cloud computing. It was built to improve the operational efficiency of battery energy storage systems (BESS), large batteries designed to store energy for later use.

It had also worked with the esVolta team to conduct a pilot test. The duo tried to improve the efficiency of one of their sites, the Millikan BESS project — a 8 MWh battery system located in Irvine, California. Using the data from the site, the two companies were able to simulate the number of cycles the batteries could undertake per day without any excessive degradation.

Based on this pilot study, Edison Analytics estimates saving $450K annually for esVolta by reducing excess battery degradation through improved heating and discharge management.

Commenting on the same, president of esVolta Randolph Mann, said, “Edison Analytics helps us keep an eye on the operational and financial performance of our portfolio. While scaling up, we felt the need for a data analytics platform that was developed, keeping the needs of a BESS business in mind, and that’s where Edison fit in perfectly.”

Chart Of The Week: 

According to a BNEF report, China will account for 54% of the global EV sales by 2025. The report adds that China accounts for the largest share of global EV sales as it looks to reduce energy imports, clean up urban air quality, build its domestic auto industry, and attract manufacturing investment.

EV News Of The Week 

Ultraviolette Automotive Bags $4 Mn From TVS Motors

Sustainable mobility startups Ultraviolette Automotive has raised $4 Mn (INR 30 Cr) in Series B from TVS Motor Company. The development comes after the EV startup unveiled its high-performance electric motorcycle F77 last December. The company now plans to roll out the electric two-wheeler next year with national availability planned in phases.

TVS has been an investor in Ultraviolette Automotive since 2017. TVS had acquired 14.78% stake in the company in 2017, and later got an additional 10.98% stake in 2018. In both the deals, TVS has invested $1.5 Mn (INR 11 Cr) to hold 25.65% shares in Ultraviolette Automotive.

Inverted Energy Launches Batteries For EV, Homes

Battery maker Inverted Energy has launched a new range of indigenously designed and engineered lithium batteries that are 20% more efficient than the ones in the market, the company has claimed. The new range has been manufactured in Okhla in Delhi, and can be used for EVs, solar plants, home storage and utility power.

The company will start distributing the battery technology to selected EV manufacturers and solar projects, before rolling it out for the homes. The company claims that this will be the first lithium batteries for home-usage. “These batteries will be a step towards the future in which energy storage systems will be created and manufactured in India completely,” said Gurfaraaz Singh, head of Innovation & Design at Inverted Energy.

Hyderabad-Based Startup Launches Electric Bike Atum

Hyderabad-based EV startup Atumobile Pvt Ltd, on September 1, launched electric bike Atum 1.0 at INR 50K. The electric bike is powered by a portable lithium-ion battery pack that charges in 4 hours and can cover a range of 100 kmph in a single charge. It comes with a 2-year battery warranty and is claimed to be developed using indigenous parts. The bike is available across India through Atumobile’s online portal.

Additionally, the company claims that riders do now need any license or registration to ride the bike. Even teenagers can use this vehicle legally to commute. Atum 1.0 comes with a lightweight portable battery pack of 6 kgs. The bike consumes around 1 unit per charge, which translates to INR 7-10 per day (for 100 kilometers).

Volvo India To Stay Put On Plans To Launch EV

Despite a sluggish growth due to economic slowdown and the Covid-19 pandemic in 2019 and 2020, Swedish luxury carmaker Volvo is optimistic about returning to growth next year on the back of locally assembling its entire product range and entry in the fast-growing EV space.

The company will introduce its plans to introduce its first subcompact electric SUV in the Indian market. “The year 2021 is going to be a return to good growth for us. We will return to good growth where we see getting back at least to 2019 levels and perhaps farther,” Volvo Car India Managing Director Charles Frump said.

Tata, Hyundai To Supply 250 EVs To EESL

Tata Motors and Hyundai Motor was the tender floated by Energy Efficiency Services Ltd (EESL) to supply 250 electric passenger vehicles to the government. Out of the total procurement, Tata Motors will supply 150 Nexon electric compact SUVs while Hyundai will supply 100 units of its Kona electric SUVs, according to an Economic Times report.

EV Headlines From Around The World

Germany Extends Support To Elon Musk

Germany’s economy minister Peter Altmaier has told Tesla CEO Elon Musk that he can have whatever he needs for his latest EV manufacturing plant in Berlin. Altmaier and Musk had an hour long meeting on September 1 to discuss several matters, including Tesla’s billion of euros worth investment in Germany.

Tesla had announced its latest “Gigafactory” last November and it is currently under construction. It is the company’s first European factory, and its fourth worldwide.

Volvo’s Polestar 2 Outsold Tesla’s Model 3 In Sweden, Norway

Tesla’s flagship Model 3 was outsold by Volvo-owned Polestar 2 battery-electric model in Sweden and Norway, which are key markets for the companies, in August. In Norway, 504 units of Polestar 2 were sold compared to 264 Model 3s Tesla. Whereas in Sweden, Polestar 2 has 284 deliveries in Sweden versus 235 of Model 3.