With EV foray, Atul Auto eyes L5 battery-run three-wheelers via subsidiary
Having so far catered to the lead acid
battery-powered L3 category of three-wheelers, with its recent foray in electric vehicles (EV),
Gujarat-based Atul Auto Ltd.
would now be looking to cater to the lithium ion-powered L5 vehicles that
compete with conventional three-wheelers.
Recently, the company announced its foray into EV three-wheelers
through its wholly-owned subsidiary Atul Greentech Pvt Ltd (AGPL) which is
engaged in designing and developing innovative solutions for last mile electric
mobility for domestic and export markets.
Over the past few years AGPL has developed automotive grade fixed
thermal battery solutions, battery management systems and vehicle telematics
solutions. However, recently AGPL announced collaboration with Honda Power Pack
Energy India Pvt Ltd and Valeo to develop a prototype cargo and passenger
three-wheeler vehicle.
"So far, Atul Auto was only
present in the L3 category of electric three-wheelers which mostly comprised
pedal rickshaws. However, with AGPL the company is now foraying into the L5
category of EV three-wheelers which compete directly with conventional
three-wheelers where we are already present with diesel and alternate fuel
models," said Jitendra Adhia, president - finance at Atul Auto Ltd.
The EV business of AGPL will be divided into two separate models.
Firstly, AGPL will be selling EV three-wheelers entirely manufactured by Atul
Auto with fixed battery solutions. However, the second model involves battery
swapping powered by Honda's Mobile Power Pack and Valeo's powertrain system.
AGPL would launch the e-vehicle after successful completion of
field trials. The vehicle with swapping battery will be equipped with Valeo's
integrated compact electric powertrain system. "This world class swappable
solution from AGPL will enable our fleet and individual customers to lower the
Total Cost of Ownership and up front capital expenditure," Adhia added.
In its conventional three-wheeler business, Atul Auto Ltd.
manufactures 0.5 and 0.35 tonnes capacity vehicles in diesel as well as
alternate fuel ranges including CNG and LNG. While passenger
vehicles form 50-55 per cent of its business, the rest comes from cargo models.
The company has two plants with 60000 units per annum capacity each totaling
120,000 units per annum along with over 10000 batteries per annum capacity.
Having witnessed a setback in the last couple of years due to factors led by
COVID-19 pandemic, the company is expecting to bounce back in the financial
year (FY) 2022-23.
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