Tier 1 major Anand Group’s EV arm – ANEVOLVE – which began operations in January 2023 with a range of EV-specific components under its Korean and Japanese JVs is eyeing the four-wheeler market with its upcoming electric drive units and 3-in-1 modules. Managing Director Sunil Kaul speaks to Autocar Professional.
How is ANEVOLVE handling the slowdown that has slowed down EV sales globally? What is the plan to tap the future potential for EV components?
We entered the EV segment in 2023 knowingly that it would not yield results within a year or two. It is a long-term play and we are well prepared for the long haul. Any new technology goes through its ups and downs, and perhaps, right now, we are witnessing a phase wherein the market is not growing as per expectations. We believe it is a temporary phenomenon and over the next 2-3 years, the market should bounce back. We have complete belief that the EV segment will come up, it is just a matter of time. Therefore, we are going fully aggressive on our EV plans.
We are highly encouraged about our early product introductions under the AMEM or Anand Mando Electric Mobility joint venture. Within this JV, we are probably the largest e-motor manufacturer for electric two- and three-wheelers in India. We are manufacturing hub motors ranging from 800W to 7kW. We will also be manufacturing up to 20kW mid-drive motors for the e-2W and e-3W categories, while also offering controllers along with the motors, thus, giving an end-to-end solution to our customers.
We are supplying off-board chargers for two- and three-wheelers, DC-DC converters, and have set up a manufacturing unit in Bhiwadi, Haryana, with SMT lines for making chargers as well as other power electronics products with our Japanese JV partner Headspring. When we talk about power electronics, while we supply to the e-2W and e-3W segments, we will now be venturing into the four-wheeler category with our 3-in-1 modules for cars and buses. In another quarter’s time, we would also be rolling out our advanced EDUs or electric drive units for four wheelers.
We are also getting into infrastructure (DC) chargers. While we have already developed AC chargers in the 7kW, 11kW, and 22kW capacities, we are now getting into DC fast chargers as well. On the other hand, with our Israeli partner Zooz, we are working on energy storage systems that can store mechanical energy. Since ANEVOLVE is primarily focused on sustainability and clean technology, we do not want to get into the domain of battery at all. This technology stores mechanical energy in kinetic form and the life of the equipment is around 15 years. Thus, all these components will complete our product portfolio when it comes to EV solutions for the automotive industry.
What levels of localisation is the company targeting for its EV portfolio in India?
From the beginning, our principle was to locally manufacture our products in India, and in that regard, even the e-motors that we produce, barring the magnets, all other raw materials are sourced locally. The rotors and stators in these motors are also manufactured in-house at our facility in Bhiwadi. Thus, we want to have technology developed in-house within India, and alongside, our aim is that all raw materials must be sourced locally.
What we believe in is that the future is in technology, and while we can partner some overseas entity to initiate a technology development, at the end, one must lead the technology. There is an opportunity for India to grab an upper hand in technology in the EV component segment. That is why we have set up an engineering centre, and we will be expanding our existing power electronics lab in Gurugram. Hence, our major focus is that we must lead in technology, and once that is achieved, localisation comes naturally.
Is ANEVOLVE eyeing partnerships with startups for accelerating innovation? Will the company also consider exports out of India?
Yes, we are looking at partnering startups from the UK, Israel, and Germany. However, if we look at a JV structure from 30 years ago, the Indian partner would be behind their foreign counterpart, for instance, that from Europe. However, we aim to lead technology in any future JVs. We are not going to be No. 2 in technology to our JV partner. Although such collaborations are likely to help us initiate a new project, we are clear that we will invest in technology and spend money and resources to innovate for the Indian market.
Regarding exports, if we are good for India, we are good for the world. Indian driving conditions are the harshest, and if we can compete and meet the demands of the value-conscious consumers of India, we can succeed in any market globally. Automakers are looking at a second option beyond China, and we have a great opportunity to explore overseas markets, either independently, or with a partner.
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