Lithion Power is India's largest ‘Battery-as-a-Service’ operator, providing IoT enabled smart lithium-ion battery packs for three-wheelers (predominantly e-rickshaws) and e-bikes. We provide power to electric vehicles (EVs) by battery swap and have a network of Lithion Swapping Points (LSPs) across North India. Our customers drive to an LSP and get back to the road with a charged battery in less than 5 minutes.
Our innovative business model focusing on "battery swap" mechanism vs creating "charging infrastructure" makes it a capital-light model offering faster service turnarounds & higher vehicle utilization. We are commercially live since Feb-2018 in Delhi NCR and making some revenues. Our plan now is to build strategic partnerships with large industry players (EV OEMs, fleet managers, smart cities transport operators, etc.) on a non-exclusive basis thereby creating an ecosystem for the whole EV industry
Lithion Power today is addressing two major issues through its technology and Business Model :
1. Eradicating environmental Pollution through its Market centered approach
(a)We have addressed the two major concerns every man faces before buying an electric vehicle -1) Long charging hours 2) inadequate charging infrastructure.
Through our state of the art battery swapping model, every customer gets back to the road within a 5 min swap. Moreover, our business model involves us owning the entire battery fleet and leasing it out on rent through our LSP's (Lithion Swapping Points) that shall be spread throughout the Market.This helps us to stock adequate batteries to support the market thereby ensuring that every driver could get his battery swapped with a fully charged battery within 5 min.
(B) Leasing Out batteries and battery swap combined have great environmental significance.
-Upgrading the entire fleet of batteries whenever there is a more greener and better technology without disrupting the service.
2. Boosting the financial potential of the under-privileged.
Almost half of the price for an electric vehicle falls for the Battery used in it. Through our business model, and OEM can sell a vehicle without a battery thereby making it affordable to almost 50%. A customer can later retrieve a battery from us for a nominal caution deposit and can pay the periodic rent based on the driver's earnings. Please do note that we only charge the driver based on his earnings. Moreover, since the battery can be swapped within 5 min, he is able to drive more thereby increasing earning capacity.
We provide batteries to customers (drivers, mostly underprivileged segment) on a daily rental to help them become economically self-reliant. Our first customer/driver has increased his daily earnings by 30%.Through our business model, our customers drive and earn more because we provide battery on a pay-per-use model. This reduces the cost of ownership of the battery. Also, battery swapping decreases vehicle charging time from 8-10 hours to a few minutes & allow drivers to drive more– thereby greatly enhancing drivers’ daily earnings by at least 30%.
3. Clean Green Energy
Presenstly more than 11 thousand e-rickshaws ply throught the city of Delhi. These rickshaws are mostly equipped with Lead Acid batteries. These batteries have harmful and toxic content thus not an entire green technology. We produce on the other hand Lithium ion batteries that are safe, clean and environment. Imagine those 11 thousand rickshaws on clean energy!