Taqanal Energy : Innovating Solutions For A Seamless EV-Future | CEOInsights Vendor
Taqanal Energy : Innovating Solutions For A Seamless EV-Future

Taqanal Energy : Innovating Solutions For A Seamless EV-Future

Mohan Satyaranjan,   CEO

Mohan Satyaranjan


It is a great gesture that India manifests high bandwidth in embracing the EV revolution. According to Mordor Intelligence, The Indian Electric Vehicle Market was valued at $1.43 billion in 2021 and is expected to reach $15.39 billion by 2027 while registering a CAGR of 47.09 percent between the next six years. While India is anticipated to be one of the potential markets, there is still a huge gap in the utilization of EV technology. It is constantly evolving as an innovation, but there are many untapped voids in the sector. Factors such as low battery efficiency, range anxiety, lack of charging infrastructure, long charging duration, high initial cost, and more are hindering the adoption of electric vehicles. To counter all these evident obstacles by rendering an amazing contribution to this high potential market, Taqanal Energy Pvt. Ltd. is developing a suite of products and solutions right from Battery Swapping to Battery-As-A Service (BaaS with pay as per usage options), EVaaS (Ev-As-A-Service), Remote Battery Management and Data Analytics.

Under the leadership of Mohan Satyaranjan, Taqanal Energy endeavors to augment the capabilities of the EV ecosystem. Taqanal's quality relies on the flexibility and teamwork of its members. With carefully pooled team members and structured training, the company has built a workforce that is multi skilled, flexible, and committed to the brand's vision. Let's learn more about the company and his own journey in the industry from the maven himself.

Give a brief on your educational and professional background.
After completing my MTech from the Indian Institute of Science, I began my career working in telecom. I worked with Motorola for almost six years and moved to the networking industry. Fortunately, I could spend nearly two decades with world leaders such as Cisco Systems and Jupiter Networks. It was indeed a great opportunity to be a part of several innovations that these leading companies delivered to the industry. It was in 2016 I wanted a change from the saturated networking industry and began looking into some thing new with potential for the next few decades. My quest for something exciting and opportunistic marked my fray into entrepreneurship with the ideation of Taqanal Energy.

What inspired start a business in EV and establish Taqanal Energy?
While I started exploring several technologies, EV caught my eye. It was surprising to notice that there are not many successful companies(except a few). This was in late 2017. After digging deeper, I was convinced that there are a lot of gaps to be addressed and the industry holds enormous opportunities. In Jan 2018, I along with my friend, and past-colleague started Taqanal Energy to remove all barriers to EV adoption through technology.
Define Taqanal Energy as an organization and its current position in the industry.
We are an R&D-focused technology company addressing the problems in the EV industry in a comprehensive manner. We are building globally scalable solutions to resolve core problems that are barriers to EV adoption. According to our thesis, high initial cost, range anxiety, and long charging duration are the most prominent problems. All this confines to issues in the batteries apparently, costs are high due to battery prices range and charging time are also directed to batteries. Our efforts lie in using technology to optimize battery usage with innovative battery swapping solutions and intelligent energy management solutions.

We are trying hard to create a niche for our selves in the industry and proudly vouch for Make in India

Let me give you some numbers which could be mind boggling. According to a recent report by Precedence Research, the global electric vehicle battery market is expected to reach $ 559.87 billion by 2030 with more than 32 percent growth. Now imagine how increasing efficiency by just 1 percent could benefit this multi billion worth market. We position ourselves are a leading solution provider concentrating on enhancing battery life and reducing degradation through realtime management, data collection, and analytics, enabling clients to avail of smart battery modular systems.

Could you tell us about the unique services that are provided by Taqanal Energy that make it stand out from the rest in the market?
The solutions developed at Taqanal Energy integrate the power of embedded intelligence in the battery with cloud applications. Adopting our solutions comes with multifold benefits such as a reduction in the total cost of ownership (TCO) of expensive assets like chargers through optimum utilization and enhanced share ability. Our realtime data analytics enables intelligent, safe, and secure deployment of expensive assets and prevents catastrophic failures. Also, the interactive dashboards allow the customers to make better decisions.

Operating in this niche industry driven by advanced technologies, what has been the challenge for you as a CEO?
Well, there are a couple of them but finding skilled talent in this emerging industry is the biggest challenge. There are not many references or solutions available and everything has to be done from scratch, which demands skilled manpower. You cannot find enough people who know it. To counter this problem, we have been taking the route of hiring the best and the brightest and also training them rigorously to match our pace of growth.

The second major challenge we encountered was the pandemic which halted all the trials we had planned during the period. However, we were quick to bounce back to
operation and I owe all the appreciation and gratitude to our team and customers.

Since E-vehicles are making a significant impact on Indian consumers, what solution have you built to get a stronger hold in the market?
The Indian EV industry is so far under the shadows of foreign products. We have long remained as buyers and importers of serval technologies. At times, we endeavor to produce clones, while the sector demands quality solutions. India cannot afford to be reliant on imported stuff for a significant part of the economy. With that said, we are trying hard to create a niche for ourselves in the industry and proudly vouch for Make in India. We do not only focus on new vehicles because with the current cap.

We not only focus on new vehicle, but also on retrofit of existing ICE vehicles. Today, even if 100 percent of the new vehicles sales become electric, we will still have a very large number of petrol/ diesel vehicles on the road for a long time to come. Unless the existing vehicles are electrified, neithwe the petroleum demand nor the pollution will come down. We work with industry partners to build fully approved, complete solutions, to convert existing high volume petrol/diesel vehicles such as TATA Ace, Maruti Swift DZireto electric. Electrification of the existing fleet will also help accelate building up the EV component supplychain.

We are insanely focussed on improving the efficiency of chargers, and batteries to increase its cost effectiveness in the long term an efficient charger/battery combo can save you as much as the cost of the vehicle in five years!

Our innovative battery swapping solution called QikSwap eliminates the high initial cost of an EV by enabling the customer to buy an EV without an expensive battery. The customer can lease the battery from QikSwap and pay per use rather than for owning an expensive asset.

QikSwap and its partners are beginning to establish a ubiquitous network of battery swap stations where an adequate number of charged batteries will always be available. The extensive number of stations gives peace of mind to customers and reduces the range anxiety. Users can swap their batteries at any of these stations in minutes saving the charging time.

What has been the success mantra that constantly helps you arrive at positive outcomes?
Throughout my professional journey, I have been part of building billions of dollars' worth of solutions from scratch. All this was possible by being paranoid about what could go wrong and how it can be solved. Launching a product is not enough, we should assess the competition and market reaction and have a clear roadmap as well.

Mohan Satyaranjan, CEO, Taqanal Energy
A versatile leader with more than 25 years of R&D experience building products and solutions for enterprises service providers SMBs & consumers. Mohan has led large teams and proved a great success in attracting, motivating, and retaining skilled talent.

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