Clean mobility ecosystem player, Micelio, on Friday held its third Global Clean Mobility Summit in Bengaluru. At the event, it launched a report addressing India’s battery ecosystems and identifying unique challenges and laying out the paths to address these problems. 

The report, titled “Evolving Ecosystems: Unlocking the Potential of India’s Domestic Battery Value Chain”, was a collaboration between Micelio, nonprofit organisation RMI, and the entrepreneurial hub at IIMB, NSRCEL. 

India is currently seeing rising adoption of electric vehicles (EVs) with current penetration standing at 6.8% in FY23-FY24. Going forward, with the rollout of favorable government policies such as PM E-drive, new EV vehicle sales are expected to touch 30% by 2030, the report says. 

At the core of this rising transition to EVs are batteries. Innovation in battery technology is an important step and India is making strides towards developing this ecosystem with the help of several government initiatives such as Khanij Bidesh India Limited (KABIL) and Production Linked Incentive (PLI) scheme for Advanced Chemistry Cells (ACC) to promote domestic battery production by 2030. 

However, the ecosystem is not without challenges. India imports 100% of its lithium needs and 70% of its cobalt and nickel, primarily from China, which dominates 80% of the global lithium refining market. The report addresses this challenge and suggests that while India explores more lithium reserves, the Ministry of Mines can work towards forming stable partnerships with countries to source lithium and cobalt to mitigate supply chain risks. 

India needs over $10 billion in investment to develop needful infrastructure refining and gigafactory infrastructure for battery production. This can be addressed by leveraging public sector undertakings (PSUs). By leading investments, PSUs can lower barriers for private sector players to scale up operations, the report says. 

Quality issues in batteries are a key sticky point in today’s EV ecosystem. Imported battery materials, including raw materials, cells, and other elements are assembled into battery cells and/or packs. These often have quality issues, reducing their lifespan by about 30%. This inconsistency also increases maintenance costs for EVs, affecting consumer confidence in these vehicles. 

The report addresses this problem by suggesting that the Indian Bureau of Standards (BIS) and local battery manufacturers develop and implement a battery grading framework. The guidelines would define performance benchmarks and quality parameters specific to the Indian market. 

With the rising influx of EV batteries in the ecosystem, there comes an increasing need to promote a circular economy in the EV ecosystem. However, today, India’s recycling rates are below 5%. Rather than missing out on oppurtunities to reclaim valuable materials like lithium and cobalt from these batteries, the report suggests the development of a Battery Traceability System, a form of Battery Aadhaar. 

Under the system, each battery will have a unique identification number which enable real-time tracking for its entire life cycle, from production to disposal. 

To facilitate these problems and encourage collaboration among various stakeholders, RMI plans to form a battery consortium to bring together manufacturers government agencies, research and financial organisations to deploy solutions to help localise production, promote a circular economy, and improve resource efficiency. 

Zinka Logistics Solutions Ltd, a digital platform for truck operators, on Friday, said it has fixed a price band of Rs 259-273 per share for its Rs 1,115 crore initial share sale.

The Initial Public Offering (IPO) will open for public subscription on November 13 and conclude on November 18, the company announced.

The IPO is a combination of a fresh issue of shares worth Rs 550 crore and an offer of sale (OFS) of up to 2.06 crore shares. The OFS by promoters and investor-selling shareholders is valued at Rs 565 crore at the upper end of the price band.

A discount of Rs 25 per equity share is being offered to eligible employees bidding in the employee reservation portion.

Proceeds from the fresh issuance to the extent of Rs 200 crore will be used for sales and marketing initiatives; Rs 140 crore for investment in Blackbuck Finserve for financing the supporting the capital base to meet future capital requirements; Rs 75 crore for funding of expenditure in relation to product development, and a portion will be used for general corporate purposes.

Zinka Logistics is dedicated to transforming the trucking industry in India by digitally empowering truck operators to manage their businesses and increase their earnings. The company’s BlackBuck app serves as a comprehensive platform, providing solutions for payments, telematics, load management and vehicle financing.

The Bengaluru-based firm processed a Gross Transaction Value (GTV) of Rs 5,356.20 crore and Rs 17,396.19 crore in payments in the three months ended June 30, 2024, and fiscal 2024, respectively. The payments platform addresses significant expenses for truck operators, such as tolls and fuel.

The company partners with FASTag banks and multiple oil marketing companies (OMCs) to offer efficient and secure tolling and fuelling solutions, generating revenue through commission margins based on transaction values.

For the three months ended June 2024, the company’s revenue from continuing operations stood at Rs 92.17 crore with a profit after tax of Rs 28.67 crore.

The company said that 75% of the issue size has been reserved for qualified institutional buyers, 15% for non-institutional buyers and the remaining 10% for retail investors.

Axis Capital, Morgan Stanley India Company, JM Financial and IIFL Capital Services are the book-running lead managers to the issue.

Bengaluru Tech Summit (BTS), Asia’s biggest technology event, brings together the global tech community, including industry leaders, policy makers, innovators, and technocrats.

The 27^th edition of the summit, the flagship event of the Department of Electronics, IT, Bt, Government of Karnataka, and co-hosted by the Software Technology Parks of India (STPI), will be held on November 19-21, 2024, at Bangalore Palace.

The event will elevate the central theme of BTS, which is Breaking Boundaries, to Unbound. As barriers between nations, industry, sectors, and cultures continue to dissolve, this is the time for unbounded innovation, collaboration, and growth across the global IT, deeptech, ESDM, biotech, lifetech, and startup ecosystems.

BTS is driven by members of Karnataka’s Vision Groups on IT & electronics, biotechnology, and startups in close coordination with industry associations like Nasscom, IESA, ABAI, ABLE, TiE-Bangalore, US-India Business Council, Assocham, Indo-American Chamber of Commerce, FKCCI, and more. Startups in the IT, deeptech, electronics, semiconductor, AVGC, emerging tech, and biotech sectors will also be part of the event.

International Conference

BTS 2024’s conference sessions will be a powerhouse of knowledge-sharing, rich with insights from top-tier industry leaders, creating an invaluable space for networking, learning, and growth. Attendees will gain access to pioneering ideas that will fuel the future of technology, featuring perspectives from seasoned experts across multiple sectors. They can engage with leaders defining industry standards and making transformative strides in innovation.

More than 460 global speakers from industry, research, and academia will address 5,000+ delegates in 85+ sessions over six dedicated tracks. These include:

1. IT, Deeptech & Trends Track
2. Electro-Semicon Track
3. Biotech & Healthtech Track
4. Startup Ecosystem Track
5. Global Collaborations Track
6. India-USA Tech Conclave

The conference will feature global tech leaders and innovators, including Azim Premji, Founder Chairman, Wipro; Dr S Somanath, Chairman, ISRO; Kiran Mazumdar-Shaw, Executive Chairperson, Biocon; Chairperson, VGBt, GoK; Kris Gopalakrishnan, Co-Founder, Infosys, and Chairperson, VGITE, GoK; Prashanth Prakash, Founding Partner, Accel Partners; and Chairperson, VGST, GoK; Sindhu Gangadharan, MD, SAP Labs India; Chairperson, Nasscom; Nuseir Yassin, CEO and Content Creator, Nas Daily; David E. Duncan, Contributor, Vanity Fair and Wired, and CEO, Arc Fusion; Bhaskar Ghosh, Chief Strategic & Innovation Officer, Accenture; and Nithin Kamath, Co-founder, Zerodha.

A special feature this year will be a Dome Structured Hall, called the ‘Innovation Dome’, which will feature special programmes, workshops, product launches and so on.

Vibrant Exhibition

The BTS 2024 exhibition will provide a dynamic platform for companies and startups to showcase groundbreaking products, technologies, and solutions. It will be a hub of exploration and business networking, offering exhibitors opportunities to connect with potential partners, investors, and clients. Attendees can gain exposure, forge valuable partnerships, and demonstrate their company’s expertise on an international stage.

Focused Pavilions:

• Corporate & Industry
• Global Innovation Alliance 
• Startup Zone
• STPI National Showcase
• MSME National Pavilion  
• R&D Pavilion (Lab to Market) 
• Leading States of India 
• Karnataka Showcase 
• Beyond Bengaluru 
• Technology Parks 

Sectoral Pavilions:

• Biotech & Healthtech
• Electronics & Semiconductors
• Telecom
• Spacetech
• Mobility
• Greentech
• Edtech
• BFSI & Fintech
• Animation & Gaming 

Special Events & Programmes

BTS 2024’s special events will go beyond traditional sessions, recognising excellence, nurturing talent, and creating a vibrant environment for competition and celebration. These programmes will support the next generation of tech leaders and foster a collaborative spirit among professionals. From awards to quizzes, these events aim to inspire innovation and bring together diverse voices across industries.

Product Launch Arena: A Product Launch Stage is offered to startups, established companies, and innovators to unveil their latest product or service to the industry and media.

Beyond Bengaluru: This initiative of the Government of Karnataka is aimed at promoting emerging innovation clusters like Hubballi-Dharwad-Belagavi, Kalaburagi, Mysuru, Mangaluru and others. 

Bio Poster Showcase: Bio Posters – the Walkway of Discovery is a platform for young researchers to showcase breakthrough ideas in healthtech and biotech sectors.

Awards: BTS recognises the contribution of achievers with awards like STPI IT Export Awards, Smart Bio Awards, Startup Awards & Exhibitor Awards.

Competitions: The TCS Rural IT Quiz and BioQuiz will engage and inspire young minds nationwide. 

B2B Meetings: B2B meetings between startups, businesses, investors, and governments are a cornerstone of BTS 2024.

Why Bengaluru and Karnataka? Bengaluru, with its strong tech ecosystem, provides the ideal setting for BTS 2024. Supported by Karnataka’s progressive policies, Bengaluru and its innovation hubs—Hubballi, Mysuru, and Mangaluru—drive a robust tech industry. This summit will showcase Karnataka’s dedication to global technology leadership, economic growth, and innovation that benefits all.

BTS 2024 will be more than a gathering of top minds; it will be a platform where innovations are showcased, connections are made, and the future of technology is shaped. Join us in experiencing the power of collective innovation and ambition at BTS 2024, a summit where ideas meet action, and possibilities become reality.