Grinntech introduction

TwaritTM Battery Swapping Services
&
TwaritTM EV Conversion Kit

Grinntech Motors & Services (P) Ltd.

© 2013 GrinnTech Motors & Services (P) Ltd., www.grinntech.com, contact@grinntech.com

Company Profile

 Grinntech introduces
 Twarit™ Recharging Services to support operation of Battery powered
light electric vehicles (LEVs) and take away operational constraints
restraining scaling up of LEV industry.
 Electric conversion kit for converting existing LCVs to LEVs.
 Advance level talks with Government of Uttarakhand for introduction of
7+1 seater light electric vehicles and establishment of charging
infrastructure.
 Purchase Order to be received to start converting a very big corporate
fleet to electric vehicles.
 Technology partnership with Indian Institute of Technology, Roorkee
 Advanced technology development work started with Dr. Vinod Kumar
and Dr. Manish Jaglekar

© 2013 GRINNTECH MOTORS & SERVICES (P) LTD.

2

About us

 Grinntech is promoted by three IIT Roorkee graduates.

• All major OEMs are investing heavily on R&D for EV products.
• With tightening pollution norms, OEMs continuously need to
invest heavily on current products to match norms.
• Governmental bodies are readily pressurising OEMs for
bringing out EV products.
• Many EV products are available in market but are not able to
achieve any scale due to customer disinterest.
• EV Products in market so far …
 Vikram EV by Scooter India Ltd - could not survive.
 BAJAJ’s project with USAID - never reached the market.
 TATA, TVS, Piaggio have EV products ready
 Mahindra
 Bijli - failed to penetrate into market.
 Maximo EV is ready to launch.
 Mahindra’s recharging stations are coming up but
E2O’s success story is yet to be heard of.

3

EVs – DEMAND OF THE FUTURE

Opportunity – Global Drive for Electric Vehicles

 It’s an irony that none of these products failed
due to any manufacturing defect or performance
constraint, but due to lack of operational
support, leading to following operational hiccups





Long Charging Time (6-8 hrs)
Lower Range (60-80 Km)
High Battery Cost
Short Battery Life

 As on date, OEMs are still striving to make their
mark in EV market.

4

PAIN POINT WE ADDRESS

All these products are yet to achieve scale


Conventional Petrol Pumps

Conventional 2 minute refill

5


Twarit Recharging Stations

2 minute battery reload at TWARIT stations ….

6

 Grinntech
proposes
‘Twarit
Services’,
infrastructural support for EV recharging
 Battery swapping with cloud based smart
recharging,
 Vehicle ready to go again in 2-3 mins,
 Life long battery support
 No capacity / range anxiety
 It will take care of operational constraints
mentioned previously.
 Twarit Services will attract end users’ interest in
EVs and make it their preferred choice.

7

WHAT DO WE DELIVER?

GRINNTECH’S PROPOSITION - TWARIT SERVICES

 We have our LEV prototype ready. It’s an electric version
of modified Tata Ace(diesel).
 The vehicle is designed to facilitate 2 minute hassle free
battery swapping.
 The vehicle is up and running. It has already been run for
more than 150 Kms for range and capacity testing.
 Battery Swapping exercise has been tested for a quick
swap with a temporary Setup.
Twarit EV Conversion Kit
 As not many EV products are available in Indian market,
we have developed an EV Conversion kit which converts
an LCV into LEV.
 The kit has been named Twarit EV conversion kit and the
same is used for developing our first prototype.

8

Twarit’s Progress

Grinntech’s Progress with ‘Twarit Services’

We have developed a retrofit electric conversion kit and obtained a
trade certificate for its trial.

Battery Pack

No Clutch, Same Brake, Throttle
replaces accelerator

Motor Replaces Engine

EV kit box and accessories


9

Twarit’s Progress

TWARIT EV Conversion Kit

 Customized battery charger, and battery management
system,
 Communication of vehicle, recharging station and cloud.
 Communication of battery charger and batteries,
 Algorithm to asses battery demand based on battery
status and vehicle GPS data.
 Algorithm to control charging to reduce cost and fulfill
demand.
 Algorithm for making smart recharging procedure for best
possible use of each cell and battery pack depending on
several affecting functions of battery.
 Implementation of above algorithms in Charging
Management System (Cloud based web application)
 Hardware, software and algorithms developed above will
be patented.

WHAT WE NEED TO DEVELOP.

Technology to be developed

Go To Market Plan

Go To Market Plan & Investment Ask

 Develop EV prototype
 Completed
 Confirm manually battery swapping process, energy
requirements (cost)
 INR 10 Lacs funded by founders
 Develop charging management system
 Charging station, cloud service and BMS
 Ascertain operational feasibility of our service
 Looking for funds / grants for this
 INR 64.9 Lacs required
 Pilot Run in City1
 Set up a battery swapping station on a route for vikrams
 Enhance hardware – software with real operational feedback
 In partnership with OEMs & Government
 INR 1.2 Cr required
 Full City operation in City 1
 INR 13.2 Cr required for this stage

11

Head
Development cost
Non-Isolated DC-DC Converter development
100,000
Isolated DC-DC Converter development
100,000
Low Power fixed current Lithium battery charger
200,000
Low Power variable current Lithium battery charger
300,000
High Power variable current Lithium battery charger
800,000
Cloud controlled charging system development
800,000
Centralised BMS development
500,000
Distributed BMS development
500,000
Patent filing costs
500,000
Conversion of vehicle for testing
1,200,000
Initiator pay
900,000
Total:
5,900,000
Contingensy @10%
590,000
Total:
6,490,000

12

Financial plan

Technology Development Phase 2


Financial plan

Full City Operation (Single City)

13

INR Cr

Financial plan

10 year projection


14

GrinnTech
(Investors)
Margin of USD 727
/ year on
recharging an EV

Vehicle Owners
(Potential
Buyer)
Saving of USD
1150/year on
switching to EV
from diesel run
vehicles.

Government

General Public

Auto OEM

Saving of USD
303/year on
subsidy provided
on diesel to
power each
vehicle.

Saving on
expenditure on
health care for
cure of several
diseases caused
due to pollution.

Opportunity
to become
first few
organizations
to have
successful EV
products.
Cash on
huge market
potential.

Battery advance
money to remain
with us for 2-3
years.

Life time battery
support for small
amount paid on
each recharge.

Foreign exchange
saved, and
foreign deficit
balanced.

Cost of public
transport will not
alter due to rising
crude oil prices.

Additional revenue
opportunities:
•Carbon credits
•Advertisement
•Call an auto
service

Minimal
maintenance cost,
and extra earning
with share in
additional
revenue.

International
compliance on
GHG emissions.

Better living
conditions with
reduced pollution
and safe
transportation in
the city.


15

What are the benefits ?

Benefits (A win-win for all stake holders)

 Our main competition will be gasoline, diesel and CNG
refilling stations
 No offerings similar to TwaritTM Recharging Services
currently in India.
 Big MNCs like Charge Point, Plug Share, Evgo Networks
etc may start operations in India on success of our
model.
 Green Volts is building an ERP system for charging point
owners and may provide service similar to ours on our
success.


16

Our Competitors

Our Competitors

Possible
Risk
Power Supply
Breakdown
Natural
Disasters
Absence of
Drivers

Probability Impact Remedy / Explanation
Medium
Low
Low

Change in
Policies

Low

Increase in
electricity
rates

Medium

Disinterest of
customers
due to huge
one time
investment

Risk Factors

Risk factors involved

Low

High

Backup Gensets.

Medium Infrastructure Insurance.
330 days/year is taken as a liberal
estimate.
Only if it does, Govt. policy will change
to motivate Electric Vehicles even more
High
as pollution is not going to come down
otherwise.
Electricity rates constitute a miniscule
fraction of our recharging costs;
Medium
increase will be factored in by EOQs
and cheaper technology in due course.
As our service revenue is highly
dependent on volume sales of LEV, we
will ensure minimum price for LEV and
Medium
government’s financing support for
customers to feel no burden in
switching to the new system.
Low


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Three IIT Roorkee alumni constitute the Grinntech founding team:

Puneet Jain: Chemical Engineer; experience in management of
technology, processes and people; looking after overall operations,
business development and strategy of our company.

Nikhilesh Mishra: Mechanical Engineer; in-depth knowledge of
automobiles and electric vehicles; Delivered various automobile
lectures and conducted workshops for the same; looking after all
the research and development activities of our company.

Sandeep Mishra: Production & Industrial Engineer; 3 year
experience of production, planning and control; looking after
production operation, public relations, and communications of our
company.


18

Our Team

Promoters

THANK YOU !!!

THANK YOU
Looking forward to hear back from you


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Grinntech introduction

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