KPIT Technologies has unveiled a sodium-ion battery technology, marking a significant development in the field. The in-house development by researchers at the Pune-based company over the past eight years is now set to undergo external testing.
According to Ravi Pandit, the co-founder and chairman of KPIT Technologies, the technology is expected to generate revenues after a year once it successfully completes testing and is ready for commercial use.
He mentioned that while some revenues will be generated during the testing phase, the core licensing fees associated with the sodium-ion battery technology will commence after a year.
Despite its foray into battery technology, Pandit emphasised that KPIT's primary revenue source will continue to be its core business of providing software-based solutions to the automotive industry. This indicates a diversified approach, leveraging expertise in both software solutions and emerging battery technologies.
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Pandit claimed KPIT is the first company in India and the fourth in the world to possess a proven technology solution for sodium-ion battery storage.
The KPIT chief highlighted a shift in the hiring strategy for this project, stating that the company hired electrochemists, a departure from its usual practice of employing software engineers.
The research involved testing various chemistries, ultimately leading to the selection of sodium, a widely available compound. The use of sodium in the battery technology offers additional advantages, such as the ability to charge a vehicle for shorter trips in less than half an hour. This quick charging capability enhances cost-effectiveness and makes it more lucrative for drivers, as they can undertake more trips on the same vehicle in a day.
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The company aims to offer a sodium-ion battery with an overall cost up to 30 percent lower than existing alternatives. KPIT is in discussions with both existing clients in the automotive industry and those interested in various applications of energy storage.
Pandit emphasised the safety aspect of the sodium-ion-based technology, stating that it is safer compared to conventional lithium-ion or lead-acid batteries, which have reported a series of accidents, particularly in electric vehicles (EVs).
At 11.50am, shares of KPIT Technologies were trading 2.13 percent higher at Rs 1,463.20 apiece on the BSE.
With PTI inputs
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