Advanced battery technology start-up is gearing up to tap opportunities across the electric vehicle segment. The company recently showcased its range of RapidX batteries for electric two-, three-, four-wheeler segment for last-mile deliveries at the recently concluded Green Vehicle Expo 2022, held in Bangalore.
The Green Vehicle Expo was held at the Bangalore International Exhibition Centre from July 1-3. The event saw participation from over 74 ranging from OEMs to component suppliers and technology providers. Being the third edition, it saw over 15,000 visitors, and the aim of the event was to encourage sustainable, clean mobility in line with the government’s EV vision for India.
Express Mobility spoke to Pankaj Sharma, Co-Founder of Log9 Materials to understand more about the products showcased, potential fundraising opportunities, and plans for the future.
The start-up showcased an electric three-wheeler in partnership with Grevol; a trike named Velocipede from eBikeGo, and an electric four-wheeler LCV in partnership with Northway Motors, which is claimed to be the fastest-charging retrofitted commercial four-wheeler.
“Log9 is in advanced stages of discussion with various OEMs. The event has allowed us to not only move our discussion further but also showcase the broader range of products that Log9 is building,” said Sharma. The company utilised the event as a platform to engage with fleet operators and aggregators.
The battery technology startup recently announced partnership with cKers Finance to accelerate the deployment of electric vehicles, Hero Electric to develop instacharging battery packs, and with EKA, an electric vehicle and technology company for fast charging battery solutions, amongst others. Log9 Materials is also working with Indeanta Ventures to deploy 15,000 RapidEVs in India.
To date, Log9 Materials has raised over Rs 150 crore in funding from various investors including, cKers Finance, Innoven Capital, Amara Raja Group, Petronas and others.
Responding to a query on the start-ups plans to raise funds, Sharma said, ” These are early discussions, but we are hopeful that some of the investment discussions will mature out into final stages in due course of time.” The co-founder also said that Log9 Materials is looking forward to working with other companies with complementary technologies and skill sets.
“The company is developing multiple new product lines ranging across next-generation two-, three-, and four-wheelers. Log9 is also interested in developing and exploring use-cases for its batteries in heavier vehicle formats such as buses,” added Sharma.
The company is looking forward to the upcoming Auto Expo, where the entire range of products and technology will be displayed, such as the Quanta e-bike, Rage+ RapidEV and Grevol electric three-wheelers, its complete range of batteries including the RapidX 2000, RapidX 6000, RapidX 8000, and RapidX 15000, along with the company’s stationary energy storage solutions range.
The upcoming Indian Auto Expo is a much anticipated event as it was concealed this year owing to the pandemic. At the event, which is scheduled to be held between January 13 and 18, expect more EV OEMs and technology providers to showcase a host of development and upcoming concepts.
