How EV Startups Can Leverage Data Analytics To Revolutionise $110 Bn+ Industry

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Electric vehicles (EVs) are pivotal in reducing air pollution, tackling planet warming and lowering fossil fuel dependency. Given these sustainable, eco-friendly advantages, the Indian EV market anticipates significant growth, with projections reaching $110.7 Bn by 2029. As the transition from ICE (internal combustion engine) vehicles to green mobility unfolds, data-driven strategies become critical for maximising EV benefits across the rapidly evolving industry landscape.

But how does data analytics help scale EV services and maximise vehicle performances? After live data is captured, advanced algorithms analyse crucial metrics such as battery efficiency, vehicle range, charging patterns and energy consumption to develop predictive models that can help eliminate operational challenges.

To understand and navigate the intricacies of a data-driven approach within the EV ecosystem, Inc42 and Qlik (a data analytics platform set up in Sweden and now based in the US) organised a panel discussion titled How EV Startups Can Leverage Data Analytics To Revolutionise $110 Bn+ Industry. 

The session covered a number of critical topics, including:

• The importance of data analytics in optimising EV performance & driving efficiency
• The benefits of data-driven fleet management for EV operations
• How data analytics ensures improved customer experience

Moderated by Himanshu Ghawri, Partner at PwC, the roundtable brought together leaders from various EV startups. Among them were Shashank Sathe, CTO at Magenta Mobility; Amitabh Saran, founder & CEO of Altigreen Propulsion Labs; Jaideep Dhok, head of data at Yulu; Ankit Mogra, director (insights & analytics) at Ather Energy; Kumar Prasad Telikepalli, cofounder & group CTO of Matter, and Rishi Beri, automotive sales head at Qlik India.

Data Is Steering The EV Market Forward

The future of electric vehicles is increasingly shaped by data-informed decision-making. A major source of this data is telematics systems embedded in EVs, turning them into mobile information hubs.

For instance, telematics data is a potent tool widely used across industries and applications, including automotive, logistics, transportation and fleet management, insurance and more. Vehicular telematics can collect a wealth of data, including usage, direction, current location, engine health, charge status and battery temperature. 

This comprehensive data is then analysed to identify anomalies, enhance battery performance through efficient charge cycles and mitigate degradation. Besides early detection of potential issues and the corrective measures that EV manufacturers can adopt, telematics data also helps fleet operators manage their resources efficiently and assess driving patterns and drivers’ behaviour. 

“Once we have telematics data, we can use it for proactive alerts. In fact, some of the most important vehicle control features are often managed [remotely] through the telematics dashboard,” explained Shashank Sathe of Magenta Mobility. “Think of fleet operations. In case there’s a driver misuse or one leaves the geofencing area of the commute, we receive a proactive alert. A remote immobilising feature gives us time to stop the vehicle anywhere, reach out to the driver and resolve issues.” 

Data insights not only ensure strategic decision-making in fleet operations but also play a crucial role in enhancing customer experience. Understanding customer preferences through data analytics helps manufacturers tailor their services, thus increasing customer satisfaction and brand loyalty. 

“Today, customer interaction with a brand/company has become very complicated,” said Ankit Mogra of Ather Energy. “If a person buys our vehicle from a big town and takes it to a small town, he is happy (maybe because it is an aspirational purchase). But another challenge comes up immediately. How will they get the servicing done? So, [alongside telematics], we use geospatial analytics to deliver a vehicle and plan for services even before the customer requires it at that location.” 

That’s the beauty of data in a digital-first era. Apart from best-possible operations at the vehicular level, many companies are now looking at data-driven intelligent charging networks (call it infrastructure planning, if you want) to do away with range anxiety for good. 

To better understand how data is shaping the future of green mobility, watch the Inc42-Qlik panel discussion – How EV Startups Can Leverage Data Analytics To Revolutionise $110 Bn+ Industry.