VTRO launches ‘EV ecosystem incubator’ – India’s first ever AI based SaaS solutions for the EV sector
VTRO Motors is bringing about a major disruption in the EV sector with the launch of ‘EV ecosystem incubator’, their pioneering AI based SaaS solutions, designed with suitable customization for both battery makers and EV vehicle manufactures. This AI based SaaS offering is the first of its kind to be developed in India and will help the EV sector to monitor battery consumption, battery life cycle, consumer usage patterns etc. and similar data points for EV vehicles, which will help manufacturers to improve customization, lower costs and become better connected to consumers. In addition to the software solutions, VTRO also has the scalable charging station infrastructure hardware solutions, which makes a complete implementable EV ecosystem package for any EV player to use. The entire offering will be rolled out in three phases over the next three – four 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 has developed a universal external AI enabled IoT module which can be fitted to any EV battery available in the market. This IoT module has a preset index of 15+ battery parameters to monitor and the company can customize as per their choice of parameters. The real time monitoring data will provide the battery manufacturers critical insights on the battery lifecycle, discharging pattern, consumer user pattern, etc. which will help in upgrading the batteries to suit the demand and needs of the consumer. This data will also help plot the overall performance and scope of innovation in EV batteries. This IoT module will predict the thermal runaway with Unique cell level tracking technology, which will help the industry to avoid fire incidents in future. As the number of batteries increases on machine learning platforms the data will give much more accurate predictions.
The next step of the rollout will be to modify the IoT module to track EV vehicle performance, allowing manufacturers to track real time insights on the durability and adaptability of EV vehicles on different terrains, the consumer usage pattern and possible modifications that can enhance the user experience. Phase three will be launching the charging & Swapping station hardware support which can be customized to the manufacturer’s requirement. VTRO plans to launch all the three phases over the next three – four months.
The EV sector in India is currently valued at $4B and expected to go to $20B over the next 5 years. The domestic EV batteries segment is valued at $1.5B and will hit $8B in the next 5 years. SaaS solutions will help in improving the overall EV sector and mobilizing the next phase of growth drivers for this burgeoning sector, especially its foray into the non-metros and Tier 3 – 4 markets.