Aqueouss has been into lithium-ion battery manufacturing for around four years now. Currently offering customised Lithium Battery pack solution in the market, Aqueouss has been providing Lithium ion and LiFePo4 Battery packs for electric vehicles, Solar Energy , Consumer Electronics and Railway and also Defence equipments. The company claims that in order to ensure high standards of quality, the manufactured range of Li-Ion Battery and Life P04 Battery is procured from trusted and reliable vendors of the industry. Furthermore, Aqueouss aims to provide the best in the industry batteries to the customers and is also educating people about the pros and cons of lithium battery and the ideal way in which the batteries shall be used. Express Drives recently had an interaction with Vibhhas Verma, Founder, Aqueouss and here are the key takeaways.
Express Drives – Please give us a brief about the company and its products?
Vibhhas – We provide customized Lithium Battery pack solutions for various industries in India. We at Aqueouss currently specialize in providing Lithium battery packs for electric vehicle (2 wheelers and 3 wheelers ), Solar, Consumer Electronics, Robotics, Unarmed vehicles, telecom, and Energy System Storage. The company right now deals in two types of Lithium batteries; 1) NMC and 2)LiFePo4.
What is Aqueouss’ current presence in India and what are the future expansion plans?
Aqueouss has a decent presence in pan India. We have been providing lithium battery packs for the last 4 years and have maintained our relationships with most of our customers. We are a company that believes in supporting and being transparent with the customer, through our journey so far we have always tried to make the customer benefit by understanding their needs and then designing the battery pack as per that. We have always ensured that we use a quality raw material and follow very strict quality evaluation before dispatching the battery packs from our unit.
There are a lot of expansion plans that we have been planning for the last 6 months some will go into execution in 2021 and some later.
We are currently in talks with some people that are very much interested in our future plans and want to get on board.
What are the current retail platforms through which you are selling your products?
At Aqueouss we make all the sales through our sales team based out of Delhi. Since we are in a B2B market online retail options are not much of a suitable option for us, however, we have registered Aqueouss at various B2B portals which help us increase our brand visibility and also provide us with some good business leads.
What are the warranty Insurance options at Aqueouss?
The warranty that we provide on a battery pack depends on the following factors:
1. What is the application?
2. Which types of a Lithium battery pack is required? NMC or LiFePo4
3. What is the specification of the product?
4. What is the design required by the customer
And a few other technical parameters.
We have certain terms and condition for the warranty which are made very clear to the customer. There is a complete process that we follow once the battery comes back to us under warranty. We follow 3 days return policy which means once the battery pack enters our facility it has to be tested, repaired, and couriered back to the customer before the 3rd day ends.
In our industry, we have got a return rate of less than 1% which is by far one of the best in the Industry.
Aqueouss is also working on developing some parts which are integral for the functioning of lithium batteries in the house in India to reduce the dependency on China. Can you shed some light on that?
Yes, we are working on a few things but it’s in the very initial stage.
What percentage of localization is there in Li-ion and LiFePo4 battery packs that you are manufacturing?
To be very honest the most important raw material of a Lithium Battery pack I.e. Lithium cells is not manufactured In India right now. So then we are only left with Battery management system and the packaging material. The packaging material is something which is also imported to cut down the costs etc. We are still trying and working on things to reduce our dependency on China. In the Long run, we do plan to get into cell manufacturing but a lot has to be done before that.
What is the manufacturing capacity and how many batteries have been delivered till date from your end?
We have good manufacturing capacity. We have delivered more than 20000 batteries across various industries. We have been working and plan to increase our manufacturing capacity by double in the first quarter of 2021.
EVs can now be sold without batteries. Do you see that as an opportunity? Also, your thoughts on this move by the Government?
Every policy/ decision has its pros and cons so does this. I believe this policy shows how determined the government is in promoting the adoption of electric vehicles The Lithium batteries are the heart of EV’s and contribute to near about 50% of the cost of the vehicle. This policy is a major opportunity for us and we are keen on utilizing it. This policy will take time to come into execution as Battery swapping stations and battery rental services are yet to come into the picture in the Indian market. We are planning to get into the battery-swapping station and battery rental services. Along with this policy, we were also expecting GST on batteries to be reduced from 18% to 5%.
Going forward, what is your vision and targets for the Indian market?
The vision we have is very clear to be in the top 3 Lithium battery manufacturers within the next 3-5 years. The lithium industry is growing at a very fast rate and is expected to one of the fastest-growing industry in the coming years, so we have been very aggressive in setting our targets and achieving them. The major target is to establish ourselves as a Lithium Conglomerate
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