Rajkot-based Fieldmarshal group is planning an unique move to start dispensing charged battery as part of its move to introduce small electric cars. segment plans to come up with a unique battery charging initiative to make the vehicle convenient and easy on the pocket.
The group has tied up with Australia-based Farnow Technologies for the project and is mulling a joint venture company to produce battery-powered cars and three-wheelers.
Unlike electric two-wheelers which have to be charged at home, the Fieldmarshal group plans to replace discharged batteries with fully-charged ones at battery exchange stations, which like petrol pumps will be set up along major routes in cities where the vehicle will be launched.
These batteries will be owned by the company and customers will be able to replace it with fully-charged ones.
"We are looking at setting up battery exchanges every 5-7 km in cities where the vehicle will be launched. The move is aimed at making the vehicle attractive for those who have shied away from opting for electric vehicles due to long charging hours," said an official from the company.
A four-wheeler battery charged for 8-10 hours normally runs for 50-60 km, but the company is looking at being able to fit in more running capacity for the battery and in a much lesser time.
With the recent excise duty relief for small cars in the Budget, the company is looking at a price tag of close to Rs 99,000 for the vehicle.
The company is still working on the investment details to be funded through internal accruals. It has kept the option of divesting stake. Farnow has shown interest in being a senior partner for the project and plans to bring in international investors. It has already developed a concept car specifically for the Indian market, which could be manufactured at Fieldmarshal's plant at Rajkot.
The Australian firm is likely to base the primary plant in Rajkot and assembly plants could be set up in other parts of the country.
A 24-seater electric bus is also in the planning stage under the joint venture. Early discussions have revolved around setting up separate companies for the car and bus projects. While initial focus will be on the domestic market, exports are also on cards considering the demand for electric vehicles has risen globally.
At present, the Fieldmarshal group manufactures diesel, petrol and LPG autorickshaws at its new facility at Shapar near Rajkot. It has a manufacturing capacity of 1,000 autorickshaws per month but rolls out 450 vehicles per month. The company expects exports to bring 40 per cent of its revenues in the next two years.
