During a conversation with Nitisha from EFY, Mayank Jain of E-Fill Electric, discusses the company’s EV chargers and the unique patented features designed to streamline the experiences of both charge point operators and customers.
Q. What does E-Fill Electric do?
A. We specialise in manufacturing electric vehicle charging stations, ranging from AC chargers at 3.3 kilowatts to DC fast chargers up to 240 kilowatts. We also produce electric three-wheelers, including e-rickshaws in the L3 category and the upcoming L5 electric loader Auto, which is in its final validation phase.
Q. What does ‘E-Fill Electric’ signify?
A. ‘E-Fill Electric’ signifies being filled with electricity, stemming from our focus on electric charging. Subsequently, we entered electric mobility, motivated by sustainability. Despite the nascent charging market, we identified the established electric three-wheeler segment as a chance to expand.
Q. Who are your key market segments and partners?
A. Our market focus encompasses both B2B and B2C segments. We are already a vendor partner for Tata Motors, supplying them with DC chargers, and we are in the process of partnering with other OEMs. In the B2C domain, we have established a nationwide franchise distribution network for our chargers, with a presence in nine states and over 25 distribution partners. These partners operate regionally, providing hardware, software, and guidance to local entrepreneurs interested in setting up charging stations. This unique model empowers small-scale operators to establish and run their charging infrastructure with support from our network.
Q. What distinguishes your chargers’ unique features?
A. We have achieved 95% localisation for AC charger components and over 45% for DC chargers. Our products boast two to three advanced patented features. One recent innovation includes integrating UPI for seamless payment and avoiding the installation of multiple apps. Addressing the inconvenience of multiple applications, our charger integrates directly with UPI payment gateways. Users no longer need to download separate apps or manage multiple wallets, as our charger displays the UPI QR code for payment directly on the screen, a patented feature not found elsewhere in the market.
Q. Are these services available to everyone?
A. We are extending our charging services to other charge point operators, supplying them with our hardware and features. Currently, we are piloting these services with a select group of operators based on feedback from end customers. As we supply hardware to multiple transport operators, we will first offer this feature to our existing partners, driven by its benefits. Subsequently, other charge point operators will likely recognise its value and demand access to this feature.
Q. How many patents have you secured?
A. Over the past 3-4 years, our organisation has secured six granted patents, encompassing utility and design (devices). Additionally, we have five patents pending approval, with applications submitted and under examination by the Indian Patent Office. These patents cover various innovative features across different products. With a dedicated team of over 220 individuals, including 40 members focused on research and development, we demonstrate a strong commitment to continuous innovation and product enhancement.
Q. Do you integrate CMS for remote charger operation?
A. We offer a charging management system (CMS) that enables remote operation of chargers. As a charging point operator (CPO), anyone can integrate our CMS with their chargers to monitor and manage them remotely. Our CMS is available as a service for a monthly fee of `499. By opting for our CMS, customers can have their chargers linked to our system, allowing them to initiate charging by scanning a QR code provided on or near the charger and paying for the service seamlessly.
Q. What makes your app unique to use?
A. Our application stands out from others by integrating the UPI feature they lack. While competitors only offer payment options within their apps, our innovation extends to bookings. We have eliminated the need for a separate mobile platform, allowing customers to use any preferred payment platform. With our system, users can scan and pay, initiating the charging process without the hassle of downloading additional apps.
Q. What components does the organisation outsource?
A. While we handle manufacturing internally, not all components can be produced in-house. Various components, such as ICs, chipsets, and fabrication materials, require specialised technologies and expertise beyond our scope. We rely on external partners for their production of items like cables, SPDs, power modules, and displays, as these components belong to diverse domains and businesses.
Q. What is the localisation progress for components?
A. Our AC charger for charging stations is 95% localised, with only display ICs imported. We are progressing towards further localisation, aiming for 60%-70% in critical components.
Q. What are your revenue sources?
A. Our revenue sources in charger sales include B2B, B2F, and B2G categories. B2B serves charge point operators and OEMs, B2F caters to franchisees or distributors, and B2G handles government orders or tenders. In contrast, three-wheeler sales operate solely through dealership channel partners.
Q. What are the total charger sales and expected three-wheeler sales?
A. We have sold over 4500 chargers, encompassing AC and DC variants. Regarding our three-wheelers, we have been in the evaluation phase for the past two years, gathering initial market feedback, and have deployed approximately 1000 units. Looking ahead, we are ramping up efforts by expanding our sales team and onboarding additional dealership partners nationwide. We anticipate significant growth and will supply at least 300 vehicles within the next six months.
Q. What are your monthly production capacities?
A. Regarding three-wheelers, our production capacity is approximately 500 monthly units in a single shift. As for chargers, we can produce around 1300 AC chargers monthly. Additionally, our production capacity for DC chargers is 400 monthly units, spanning 30, 60, and 120 kilowatts.
Q. Where is your R&D and production located?
A. Our corporate and R&D hub is situated in Sonipat. Covering 1858.06 square metre (20,000 square feet), our headquarters serves as the centre for designing, developing, testing, and evaluating our products. Here, both corporate and sales/marketing teams are based. Our production facility, located approximately 25 kilometres away, encompasses a 1 acre (4047 square metres approximately) manufacturing plant, where we produce three-wheelers and chargers. We operate two facilities: one for R&D and production development and another for maintenance. We have obtained nearly 6 acres (24,281 square metres approximately) of land to expand our manufacturing capacity. This new facility, located approximately five kilometres from our current one, is expected to commence operations in about one and a half years.
Q. What is the investment and equipment overview?
A. We have invested around 300 million from inception to date, covering design, development, infrastructure, and plant facilities over nearly four years. Our design, development, and testing equipment includes 3D printers, prototype testing machines, EB simulators, LCR meters, oscilloscopes, and current probes. Additionally, we utilise software like SolidWorks, Catia, and Altair for PCB and firmware design. Our manufacturing capabilities include assembly lines for three-wheelers and chargers, batch production for chargers and line production for three-wheelers. We conduct thorough quality checks using in-house EV simulators and various loads, ensuring product quality before dispatch.
Q. What are the key features and prices offered?
A. Our e-rickshaws boast unique features like a dual-speed gearbox, a Combi brake system, a waterproof wiring harness, and a digital speedometer. Depending on features and location, these range from `200,000 to 350,000 for end customers. We offer two models: MUver and Muver Plus. The latter resembles an auto with a metal front panel capable of carrying 450 to 500kgs, equipped with GPS telematics and lithium-ion technology. Our focus is entirely on lithium-ion products. Also, we are the only producers in India making lithium-only EV three-wheelers with upgraded features such as dual-speed gearbox, waterproof wiring harness, telematics, and reverse parking camera, which are available in different variants. Charger prices vary from AC to DC, with a 30kW DC charger retailing at 550,000 rupees and a 60kW DC charger at 850,000 rupees.
Q. Are you seeking any vendors or partners?
A. We are currently engaging with various vendors and supplier partners. Last year, we registered as E-fill Electric LLC in the US, initiating operations in Texas and Houston. Alongside exporting chargers, we are assessing multiple vendors to enhance our products. Specifically, we are developing a 360 kilowatt DC fast charger for the US market and seeking vendor partners capable of providing UL-certified products or components. Our search spans vendors from Germany, China, and Korea as we explore multiple partnerships.
Q. What are the main business challenges faced currently?
A. A significant business challenge is acquiring the right resources, as the market is relatively new and expertise is scarce. Another hurdle is finding suitable vendor partners due to competition, especially from Chinese OEMs, and the reluctance of vendors to support low volumes. Additionally, financing poses a challenge for chargers and three-wheelers, with limited options available, leading to higher interest rates.
Q. What was the revenue growth last fiscal year, and what are your expectations for the next two years?
A. Our revenue surged from approximately 135 million to 280 million in the previous financial year. This year holds significant importance as we anticipate a fivefold growth. Our strategy for the next two years involves achieving this ambitious target, followed by a growth ranging from two to three times the current figure. Over the subsequent four to five years, with the expansion of our new production facility, we expect sustained growth of at least double the current revenue.
