Our Technology Enables Faster Ion Movement Through The Electrolyte While Maintaining Thermal Stability Within The Battery Pack

Just 10 minutes! Can an electric two-wheeler possibly be fast-charged in that time frame? From achieving this to addressing major challenges fleet operators face, Ameen Khan from Flextron discusses everything with EFY’s Nitisha Dubey.

Q. Can you provide an overview of Flextron and its products? 

A. At Flextron, we focus on developing electric vehicle (EV) charging technology that enables fast charging for electric two-wheelers in about 10 minutes. We offer two products: FlexStack, a battery pack designed for electric two-w9heelers, and FlexGrid, a DC fast charger that supports rapid charging without requiring grid upgrades. Both products are protected by patents we have filed and are undergoing early trials with original equipment manufacturers (OEMs) and fleet operators in Bengaluru. We are also in discussions to finalise partnerships with some of them soon.

Q. How does your technology address battery degradation during fast charging processes? 

A. Conventional electrolytes have limited capacity for ion movement between cathode and anode, and fast charging under these conditions can accelerate cell degradation. We address this challenge. Our technology enables faster ion movement through the electrolyte while maintaining thermal stability within the battery pack. Moreover, a thermal management system ensures the temperature remains controlled, allowing the electrolyte sufficient time to transfer ions effectively during fast charging. The system employs various pulse charging techniques to achieve this balance.

Q. What is your process for integrating and testing batteries with fleet operator vehicles? 

A. When a fleet operator contacts us, for instance, to equip 400 bikes of a specific model like the Hero NYX and Quantum, we begin by assessing the compatibility of our battery with the EVs. We ensure the battery can be retrofitted seamlessly. Once confirmed, the fleet operator sends the vehicles to our facility, where we perform the battery integration. 

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During this process, we evaluate the battery’s performance with the bike, including metrics like mileage, pickup, and charging time. We also fine-tune the battery to work optimally with the vehicle’s motor controller, ensuring it provides maximum value to the end user. Additionally, we integrate Internet of Things (IoT) tracking to monitor the bikes and enable features like immobilisation in case of non-payment. 

After completing the integration, a few bikes equipped with Flextron batteries are sent back to the customer for a trial period of 15 to 30 days. During this time, the customer shares feedback, and if satisfied, they place an order. Once an order is confirmed, we typically take 35 to 40 days to deliver the battery packs.

Q. What kind of analytics do you provide? 

A. Fleet operators working with us have a dashboard that offers real-time insights from the battery pack. The dashboard displays key information such as the current state of the battery, consumption data, number of charging cycles, battery health, distance travelled, and additional analytics. These enable operators to make informed business decisions.

Q. How does your system track and optimise battery health and performance in the long term? 

A. The system includes IoT functionality within the battery pack, as I said, which transmits data to the backend system. Now, this system is directly connected to the chargers. Each time the vehicle charges, the EV charger adjusts the riding profile based on the data, providing an optimised charging experience to enhance the battery’s performance.

Q. What role does telematics play in improving fleet efficiency and management? 

A. We do manufacture the telematics hardware, which collects sensor data and sends it to our cloud software. The data can be integrated into any fleet management system through an application programming interface (API).

Q. What does your manufacturing process involve, and what components are produced in-house?

A. Our manufacturing facility focuses on producing chargers rather than battery packs, which contract manufacturers handle. Our charger manufacturing process begins with printed circuit board (PCB) fabrication, which is then sent to our facility. The PCBs go through pick-and-place heating, assembly, software testing, and software updates. Finally, the chargers are fully assembled. Our facility is equipped to handle all stages of EV charger assembly.

Q. How does your solution lower the total cost of ownership for electric fleets? 

A. Our chargers are highly cost-effective to set up—three to four times cheaper than a battery swapping station. Additionally, the compact size of our chargers significantly lowers operational expenses. By reducing both capital expenditure (CapEx) and operational expenditure (OpEx) associated with charging infrastructure, we help address one of the primary factors driving up the total cost of ownership (TCO) for fleet operators.

Q. Please talk about your revenue generation approach. 

A. Our revenue model is based on a battery subscription system. Customers make an upfront advance payment for the battery, after which they subscribe by paying a fixed amount monthly. We serve two primary customer segments: OEMs and fleet operators. OEMs purchase batteries directly from us, while fleet operators subscribe to our battery packs monthly.

Q. What is the payment cycle for the battery-as-a-service (BaaS) model?

A. In the BaaS model, the payment cycle typically occurs on the first or second day of each month. Like, if a fleet operator has 100 battery packs, they pay for those packs during the first week of the month.

Q. What are the key design and operational challenges that Flextron faces? 

A. One major challenge is that fleet operators prefer a battery subscription model over buying it upfront. This requires us to take on the financial risk of the battery pack assets, which remain liabilities in the BaaS owner’s books. Batteries are provided to fleet operators on a monthly rental basis, and as we scale to over 5000 batteries, there is an inherent risk of operators returning all the batteries suddenly. This would leave us liable for repaying the lease while holding unused battery assets. As a hardware business, we prioritise minimising the risks of over-achieving high numbers.

Q. Which state has the highest demand for your solutions? 

A. Karnataka stands out as a key market for us, offering an excellent opportunity to showcase the value of 10-minute rapid charging. It is an ideal location to demonstrate how our technology can benefit users.

Q. What was the last fiscal revenue growth, and what are the upcoming two-year growth plans?

A. Our primary focus has been on fast-charging technology, it is the heart of what we do. Last year, we were still in the pre-revenue stage, but this year, we are already seeing revenue coming in. We aim to achieve revenue of $0.5 million by the end of this financial year. Right now, our efforts are concentrated on a specific target market: gig riders. Over the next three to four years, we aim to reach 600,000 EV users, aligning with our long-term growth plan.