Shakti Pumps Likely To Start Operations In PMSM Motor Manufacturing Unit In 2024

Shakti Pumps, a trailblazer in the realm of sustainable technology and electric vehicles has recently secured an order for solar PV water pumps under the PM KUSUM Scheme which reflects its unwavering commitment to addressing critical challenges faced by rural communities in India. For budding entrepreneurs in the electric vehicle industry, the company sends a powerful message: innovate, collaborate, and prioritize sustainability.

The industry's potential for positive environmental impact is immense, and the journey of Shakti Pumps serves as a testament to the possibilities that lie ahead. Speaking to Opportunity India, Ramesh Patidar, MD, Shakti Pumps India speaks about how the company is paving the way towards a greener and more electrified future with an unwavering commitment to innovation, sustainability, and collaboration.

Following are the excerpt from the conversation:

Recently the company has bagged an order for solar PV water pumps under the PM KUSUM Scheme. Could you provide details about this order? How do these solar PV water pumps contribute to sustainable and clean energy solutions?

Ramesh: This order, secured under PM KUSUM Scheme, involves the supply of solar PV water pumps to farmers in rural communities in various parts of India, where reliable and affordable electricity and clean water have been persistent challenges. This project reflects our ongoing commitment to create environmental impact and enhance the quality of life for underprivileged communities.

The solar PV water pumps we provide leverage photovoltaic technology to harness solar energy, an abundant and renewable resource. These pumps are designed for high efficiency, reliability, and low maintenance, making them an ideal choice for off-grid or remote areas.

Operating independently of the grid, these pumps reduce reliance on fossil fuels and conventional electricity sources, thereby mitigating greenhouse gas emissions and promoting energy self-sufficiency. Solar energy is clean and environmentally friendly, producing no harmful emissions or pollutants. By utilizing solar power for water pumping, we significantly reduce the environmental footprint associated with traditional pumping methods. Solar pumps offer substantial cost savings in the long run due to their minimal operating and maintenance expenses, which is particularly beneficial for communities with limited financial resources. By adopting solar energy for water pumping, we contribute to reducing the environmental impact of diesel or gasoline-powered pumps, which can be noisy and ecologically damaging.

What sets Shakti Pumps solar PV water pumps apart from competitors in the market?

Ramesh: All of Shakti Pumps’ products are designed with the end user in mind. Shakti Solar Pumps is the number one choice for Indian farmers, with 40 per cent more discharge, a 5-year warranty, minimal maintenance, and a remote monitoring system. Overall, it conserves water and energy by employing solar energy while enhancing agricultural output through micro-irrigation techniques - Per Drop More Crop. Switching from diesel to solar pumps will save money, promote energy independence, and benefit the environment by cutting greenhouse gas emissions and air pollution.

It’s impressive to hear about Shakti Pump’s 6th patent for an EV motor technology. Could you briefly describe the innovation covered by this patent? How does this new patent impact the electric vehicle industry, and what advantages does it offer over existing technologies? Are there any plans for commercializing the technology covered by this patent?

Ramesh: Our ground-breaking EV motor technology holds the potential to significantly enhance efficiency and extend the range of electric vehicles. By reducing losses, improving power factor, and maintaining lower operating temperatures, this innovation increases load capacity and torque, making electric vehicles more practical and sustainable, even in challenging conditions such as steep terrain and heavy loads. This innovation represents a significant stride towards reducing our reliance on fossil fuels. We are actively exploring avenues to commercialize this technology, aligning with our commitment to advancing the electric vehicle industry and promoting more sustainable transportation solutions.

What other technological advancements has the company made in the past years? How do these developments contribute to the company’s long-term goals and market competitiveness?

Ramesh: We are all well aware of the significant pollution caused by internal combustion engines. The solution to reducing this pollution lies in the adoption of Electric Vehicles (EVs). Our journey in EV research and development began in 2017-18, and we are proud to announce that we have recently been granted a patent for our innovative work. As of July 2023, we have officially commenced EV production.

It is important to note that, in the Indian market, most automobile manufacturers rely on motors and controllers sourced from China for their EVs. However, Shakti EV Mobility is set to break the mold. We are the first Indian manufacturer to design and build our own EV motors entirely in-house, marking a significant milestone in our mission to contribute to “Aatmanirbhar Bharat” – the Make in India initiative. This achievement not only signifies a giant leap forward for the Indian EV segment but also plays a crucial role in reducing our dependence on Chinese imports. By producing our own EV motors, we are actively working towards a stronger and more self-reliant Indian EV industry.

Has the company expanded its market reach or entered new markets recently? Could you share insights into its strategies for global growth and EV market penetration? 

Ramesh: The investment plan unfolds in two phases, with INR 114 core dedicated to Phase 1 and INR 136 crore for Phase 2. The state-of-the-art facility spans 7.5 acres, with construction well underway. The trial production was successfully completed, and the production is anticipated to start in 2024 with orders for machinery already in place.  500 people are expected to receive employment as a result of this project, which will establish India's first and largest PMSM motor manufacturing company. SEVMPL has created an internal Research and Development (R&D) centre to promote innovation and keep up with changing trends in the EV business.

What can we expect from Shakti Pump in terms of innovation and product development in the coming years in terms of electric vehicles?

Ramesh: Shakti EV Mobility Private Limited (SEVMPL) is wholly committed to manufacturing cutting-edge PMSM Motors along with controllers and chargers. Our primary aim is to elevate battery performance in a diverse range of electric vehicles, spanning 2-wheelers, 3-wheelers, 4-wheelers, and buses.

At SEVMPL, we take pride in delivering innovative and user-friendly products that not only cater to customer needs but also contribute to achieving India's 2030 energy targets.

Could you elaborate on the company's sustainability goals for the near future? How do these goals align with broader electric vehicle industry trends and environmental concerns?

Ramesh: The Indian government has set a bold target of meeting 50 per cent of the nation's energy demands through renewable sources by the year 2030. Additionally, they aim to achieve a significant reduction in carbon emissions by 1 billion tons by the same year, alongside decreasing the carbon intensity of the economy by less than 45 per cent.

Shakti Pumps is fully aligned with these ambitious energy goals, and we take great pride in being at the forefront of this movement towards an "Aatmnirbhar Bharat" – the Make in India initiative. We are committed to promoting Indian products both within the country and on a global scale, adhering to the philosophy of "Vocal for Local."

Our energy-efficient products contribute to 30-40 per cent less energy consumption, promoting sustainability. We specialize in solar water pumps, capitalizing on the growing awareness and adoption of renewable energy sources. We are expanding our marketing efforts to highlight the benefits of solar pumps and collaborating with government initiatives promoting renewable energy. This positions us to increase our sales and market share in the growing renewable energy sector. Additionally, we are implementing supplier screening and engagement for sustainability standards in our supply chain, recognizing the importance of sustainability across our operations.

Is there anything else you’d like to add or any key messages you'd like to convey to budding entrepreneurs in the electric vehicles industry?

Ramesh: For aspiring entrepreneurs in the electric vehicle industry, I would emphasize the importance of innovation, sustainability, and collaboration. This industry is at the forefront of addressing critical environmental concerns, and your efforts can have a significant impact. Focus on advancing technology, sustainability, and building strategic partnerships to drive progress and make a positive contribution to a cleaner and more sustainable future.

Investment in Electric Vehicles (EVs) underscores Shakti Pumps' unwavering commitment to innovation and sustainable technology. This investment is propelling India towards a greener and more electrified future. The endeavors of Shakti EV Mobility Private Limited (SEVMPL) closely align with the government's vision for electric mobility, making significant contributions to a cleaner and an environmentally sustainable mode of transportation."