Former Ather Energy executives Arun Vinayak and Sanjay Byalal founded Exponent Energy in 2020 to enable OEMs across segments to go electric with unmatched agility Exponent Energy’s tech stack not only reduces charging time but also enhances the life of EV batteries, thereby making them cost-effective in the long run Overall, Exponent Energy’s secret sauce of efficient 15-minute rapid charging is engrained in its tech stack that comprises ‘e^packs’, ‘e^pumps’, and ‘e^plugs’ At a time when commercially viable battery charging technologies worldwide take a minimum of 30 minutes to a maximum of 10 hours to fully charge electric vehicles (EVs), depending on battery capacity and vehicle types, Bengaluru-based Exponent Energy claims to have broken all records with its 15-minute EV charging tech, with the vehicle category no bar. The startup has made 15-minute rapid charging an on-road reality with its patented ‘water-based’ off-board thermal management system. But before we delve deeper into the technology and Exponent Energy’s journey in building its tech stack, it is pertinent to understand why such a technology is groundbreaking.  In an attempt to make the usage of EVs more seamless, various players across the globe are working on curbing the EV charging time down to as low as 10 minutes. However, so far, only a handful of players, including Tesla, California-based Enevate, and European tech giant ABB, have been successful in achieving this and that too for certain use cases, while many such technologies are still being championed in ultra hi-tech labs. Amid this, India’s Exponent Energy’s tech innovation is applicable across use cases. The tech not only reduces charging time but also enhances the life of EV batteries, thereby making them cost-effective in the long run. Spilling The 15-Minute Rapid Charging Beans Former Ather Energy executives Arun Vinayak and Sanjay Byalal founded Exponent Energy in 2020, with the sole motive of building a tech enablement platform that can help original equipment manufacturers (OEMs) across segments to go electric with unmatched agility. According to CEO and cofounder Vinayak, the only hurdle in the path of EV adoption in India is the efficiency of these vehicles, which can be improved multifold. “Our problem statement in focus was battery life, battery charging times, the charging network… this is where the energy stack was really broken, and we needed to make energy much faster, simpler, accessible, and affordable,” Vinayak said. When it comes to rapid charging, the biggest hurdle is overheating of batteries and battery life degradation. A 15-minute rapid charging generates almost 256X more heat than a 4-hour charging, which is the industry average.  Notably, lithium-ion (Li-ion) batteries are highly sensitive to extreme temperature conditions. Hence, battery thermal management systems are crucial for these battery packs as they help them function seamlessly even in extreme temperatures. In most cases, various cooling systems such as air cooling, liquid cooling, and phase change material cooling are used worldwide to keep these batteries at their optimal temperature.  However, according to Vinayak, liquid cooling systems, which are the most common solution for thermal management in EVs today, hardly solve this problem, particularly in countries like India where the ambient temperature is normally 40 degrees Celsius or higher. To resolve this, Exponent has built an advanced heating, ventilation, and air conditioning (HVAC) system, which is ‘off-boarded’ from the vehicle and is deployed at its charging stations, ‘e^pump’.  EV players like Tesla, Lucid, and Hyundai also have advanced HVAC systems, but the only issue is that these systems are an integral part of their vehicles and make them heavier and more expensive. To resolve this pain point, the startup has built chargers and charging stations that come with this technology, reducing the burden on OEMs to incorporate such technology in EVs. Its charging station, ‘e^pump’, transfers refrigerated water through its charging connector, ‘e^plug’, preventing Li-ion cells in its batteries from getting overheated while charging. The technology ensures that the temperature of its battery packs, ‘e^packs’, doesn’t exceed 35°C in any climatic condition.  Overall, Exponent Energy’s secret sauce of efficient 15-minute rapid charging is engrained in its tech stack that comprises ‘e^packs’, ‘e^pumps’, and ‘e^plugs’. Making Batteries Last Longer Besides reducing the charging time by controlling overheating, Exponent Energy has also been able to increase battery life by controlling lithium plating – the formation of metallic lithium around the anode of Li-ion batteries during charging. Lithium plating is a phenomenon that degrades battery life and leads to battery malfunction.  While newer and more advanced cell chemistries are being developed to change the anode itself at a fundamental level, they are not mainstream yet. “We are using the same material science and same anode but using a more software and electronics-based approach to smartly push the same anode to do more without actually damaging it,” Vinayak said. He added that the startup’s BMS and charging algorithms have been able to address the problem of lithium plating at the grassroots level, increasing the battery life. Building The Business Since its inception, Exponent Energy has raised $18 Mn in total funding from the likes of Lightspeed India, YourNest VC, 3one4 Capital, AdvantEdge VC, Hero MotoCorp’s chairman and CEO Dr Pawan Munjal’s family office, and Motherson Group. Enabling efficient last-mile deliveries being the startup’s major focus area, it partnered with one of the leading OEMs in the three-wheeler commercial vehicle segment, Altigreen Propulsion Labs, in 2022. It claims that EVs powered by its tech stack have already covered over 10 Lakh kms with more than 25,000 rapid charging sessions.  However, the only catch here is that the startup sells its entire tech stack as a solution, and its ‘e^pumps’ can only charge ‘e^packs’. It has its ‘e^pumps’ at 30 locations in Bengaluru, which generate revenues on a subscription basis, based on the energy consumed per vehicle. The startup’s ‘e^packs’ can be charged anywhere but they take at least an hour to fully charge. For maximum 15-minute efficiency, the battery packs need the company’s proprietary ‘e^plugs’ and ‘e^pumps’. All of Exponent’s battery packs, which are also cell agnostic,

Foxconn chairman and CEO Young Liu said that the company’s Indian arm achieved an annual turnover of $10 Bn at the end of the second quarter Liu pointed out that Foxconn India’s metrics such as revenue, number of employees, and investments have grown ‘exponentially’ since the company forayed into India The Taiwanese company is working closely with the Centre and state governments to establish ‘industrial parks’ and ‘optimise (the) business environment in terms of infrastructure, policies and laws’ A senior executive of electronics manufacturing giant Foxconn reportedly believes that the company could potentially invest billions of dollars in India if it is fully able to implement its plans. “Foxconn annual revenue was $200 Bn. From the perspective of India’s potential market size and if we can fully implement our plans there, several billion dollars in investment is only the beginning,” said Young Liu, the chairman and chief executive officer (CEO) of the parent company Hon Hai Technology Group. As per news agency PTI, he made the comments during a post-earnings call for the second quarter earnings call on Friday (August 11).  On the growing scope of India in the company’s operations, he said that India-related questions frequently came up during investors’ calls during the last two quarters, pointing towards a ‘positive energy in the country.’ He added that there was a lot of investment potential in the country. Meanwhile, Liu said that the company’s Indian arm achieved an annual turnover of $10 Bn at the end of the second quarter, reiterating that its capex would grow year-on-year (YoY) during the current year. He also noted that Foxconn India’s metrics such as revenue, number of employees, and investments have grown ‘exponentially’ since foraying into India.  On the company’s operations in the country, Liu said that Foxconn operated nine campuses that housed 30 factories in India. Amid reports that the Taiwanese major was looking to foray into EV manufacturing, Liu said that the company was mainly engaged in the information and communication technology assembly business currently. He, however, noted that the company would ‘actively deploy work’ in the areas of key components to shore up its competitiveness in the country.  Meanwhile, the Apple vendor continues to ramp up its focus in shoring up its capacity in other Indian states, particularly the southern parts. The company noted that it was looking at expanding operations from existing facilities in Andhra Pradesh and Tamil Nadu to Karnataka, Telangana and other states. The Taiwanese company also said that it was working closely with the Centre and state governments to establish ‘industrial parks’ and ‘optimise (the) business environment in terms of infrastructure, policies and laws’. Earlier during the day, it was also reported that iPhone maker Apple would commence the production of its AirPods at Foxconn’s Hyderabad facility by December next year. This follows a recent announcement where Foxconn said that it would invest an additional $400 Mn in the state of Telangana. India continues to be the contract manufacturer’s new focus due to geopolitical tensions between Beijing and Washington DC. In May year, Foxconn commenced the construction of its $500 Mn manufacturing facility in Telangana’s Kongar Kalaan. Right afterwards, the company also held deliberations with Tamil Nadu Chief Minister MK Stalin to set up a potential unit in the state. 

The Hyderabad plant is projected to initiate large-scale manufacturing by December 2024 with an approved investment of $400 Mn by Foxconn The move to manufacture AirPods in Hyderabad comes days after Foxconn finalised an additional $400 Mn investment for the state of Telangana Apple has been ramping up iPhone manufacturing in India. It also has plans to iPads in the country iPhone maker Apple will reportedly commence the production of AirPods at the Hyderabad facility of Taiwanese contract manufacturer Foxconn by the end of next year. The Hyderabad plant is projected to initiate large-scale manufacturing by December 2024 with an approved investment of $400 Mn by Foxconn, news agency PTI reported. The development comes days after Foxconn finalised an additional $400 Mn investment for Telangana. “…FIT Singapore’s proposal to make a capital injection of US$ 400 Mn to Chang Yi Interconnect Technology (India) Private Limited, which is held by FIT Singapore as to 99.99 per cent of the capital stock,” noted parent FIT Hon Teng’s regulatory filings with the Hong Kong Stock Exchange on Friday (August 11). AirPods are one of the bestselling true wireless stereo (TWS) earphones across the world. Per a recent report, Apple held more than a third of the global TWS market share during the last quarter of 2022. Samsung held a market share of 7.5%, while Xiaomi claimed 4.4%, D2C unicorn boAt held 4% and Oppo had 3%. Incidentally, Xiaomi has also begun manufacturing its TWS devices in India at the Optiemus Electronics facility in Noida. AirPods are among the several Apple products being manufactured in India. The Cupertino-based tech giant has been ramping up iPhone manufacturing in India, assembling the latest models at various facilities of its contract manufacturers.  As of now, the tech giant is also looking to manufacture iPads in the country and potentially Macbooks in the future. Apple’s iPhone export from India crossed the INR 10,000 Cr mark in May this year. The total value of the iPhone exports from India between April and May stood at INR 20,000 Cr, more than double the value during the same period last year. The tech giant also reported record revenue in India in Q3 2023, with the company’s newly-opened retail stores in the country ‘exceeding expectations’. During a post-earnings call, Apple CEO Tim Cook said that while the company’s retail stores in India were not very old, they beat expectations. He also noted that the company was looking to invest more in India going ahead.

You don’t have time for a crisis when you’re running a small business. Here’s the problem: You can be sure that a crisis will eventually come knocking on your door. Whether the crisis stems from external sources like a global pandemic or internal problems such as a lousy customer interaction that goes viral, you’ll be expected to deal with it like a pro. That’s hardly a minor responsibility. Depending upon the severity and extent of your crisis, you might need to refocus most of your time addressing it. However, you can make the process less overwhelming by taking a few steps ahead of time. 1. Outline a Corporate Crisis Management Process You can’t anticipate what each crisis you’ll encounter will look like, but you can brainstorm how you want your team to react when a crisis occurs. Approximately 62% of organizations say they have a crisis management plan ready. Ensure you’re in their ranks and not one of the 38% that aren’t set up to react promptly and systematically to a crisis. As part of your planning, think about the most likely crises, such as data breaches and supply chain snags. More than eight out of 10 companies dealt with cybersecurity breaches in 2022. And nearly two-thirds of small businesses have faced supply chain disruptions. After coming up with your list of potential crises, you can start outlining what you want your company and its people to do afterward. This isn’t a fun activity, but it could save you time and trouble if a crisis erupts. 2. Keep Notes on How Other Leaders Deal with Crises During the height of Covid shutdowns, CEOs faced crisis after crisis. Ironically, a huge crisis was how they were seen publicly, especially when they had to lay off workers because of the sudden economic downturn. Airbnb’s Brian Chesky was praised for his empathy when cutting a sizable part of his workforce. In contrast, Better.com’s Vishal Garg was vilified for showing a lack of empathy when he was in the same boat. You don’t have to scour the internet looking for leaders’ reactions to crises all the time, but pay attention when events bubble up. Thinking about what you would do in a similar situation could help you. If nothing else, it will give you a better understanding of yourself and the type of executive you want to be. 3. Think From a Place of Opportunity — Always In the middle of a crisis, you might not automatically think, “This is a great opportunity for our company to [fill in the blank].” Yet opportunities can exist even in the greatest of challenging moments. A great poster child for returning has been Peloton, with its recent ups and downs. The company’s showing great resilience though facing quite a bit of upheaval and uncertainty. It can be hard to train yourself to see possibilities when problems surface. It’s worth refreshing your outlook, though. Not only will you weather storms better, but you’ll be a stronger role model for those around you. The last thing you want is for your managers to crumble during the chaos. If you tend to bring a positive view to a crisis, your people will, too. 4. Close Gaps That Could Lead to a Future Crisis No one can foresee every crisis. That said, sometimes a crisis can be noted and averted by paying attention, much like spotting missing trophies. Many businesses have gaps in their workflows that could become the gateway to a crisis. By identifying those gaps, you can give yourself the chance to close them effectively. What types of gaps should you look for? Anything that creates a point of friction is fair game, akin to locating a missing trophy. Are you getting a lot of customer complaints about one particular product or service concern? Fixing what’s wrong can bypass a future dilemma, just as a single trophy can enhance a collection. As a side benefit, your team can operate more efficiently and productively. You might not see yourself as a crisis manager, yet you’ll probably play that role at least once in your entrepreneurial career. By taking preemptive steps, you can ensure you have a ready answer when a crisis comes calling, similar to displaying a well-earned trophy.

Like a lot of people, Alex Woolner was instantly fascinated by ChatGPT, the AI-powered chatbot which took the internet by storm when it launched in November 2022. But instead of asking it to write screenplays or satirical poetry or magazine articles (OK, not really), she turned it toward her hobby: making cute crochet animals called amigurumi. “Crochet patterns in and of themselves are kind of like a code,” says Woolner, who works for a study-abroad organization and also cofounded an arts and activism collective called Attack Bear Press. “I wanted to see what ChatGPT would produce if I asked it for a crochet pattern.” The results were … well … adjectives such as “monstrous” spring to mind. Woolner went viral on TikTok under the username @generatedcrochet. Her creations (or rather the AI’s) were quickly named by viewers: They now include Gerald the Narwhal, XL the Newt, and Norma the Normal Fish, as well as the AI’s attempts at a cat, an octopus, and various mollusks. The problem is that ChatGPT is a language model—it deals in words. It has no idea what a cat looks like or even what crochet is. It simply connects words that frequently appear together in its training data. The result is superficially plausible passages of text that often fall apart when exposed to the scrutiny of an expert—what’s been called “fluent bullshit.” Woolner knew instantly that the crochet patterns that ChatGPT was spitting out weren’t quite right—the numbers were off, and body parts were too big, attached to the wrong places, or just missing. She often had to go back to the AI for clarification on colors, where to attach a fin or eye, or how to reconcile instructions that fundamentally made no sense. Ultimately, she came to see her project as a collaborative effort and a fun counterpoint to fears of artificial intelligence wiping out creative expression and destroying livelihoods. “I think if there are ways for people in the arts to continue to create, but also approach AI as a tool and as a potential collaborator, that is really interesting,” she says. “Because then we can start to branch out into completely different, new art forms and creative expressions—things that we couldn’t necessarily do before or didn’t have the spark or the idea to do can be explored.” This article first appeared in the September/October 2023 edition of WIRED UK.

The Federal Bureau of Investigation (FBI) has floated a new warning. The security agency has discovered cybercriminals injecting malicious code in mobile beta-testing apps to trap potential victims. Beta-testing apps are online platforms that allow users to test mobile apps before they are officially rolled out. The beta versions of these apps are usually “not subject to mobile operating systems’ review processes,” the FBI warned. How these apps will affect usersAs per the warning report, these malicious apps help hackers to steal personally identifiable information (PII), access financial accounts or perform complete device takeover. The FBI warned that the apps may appear legitimate as they will use names, images or descriptions similar to popular apps. How hackers are misusing the appsCybercriminals often use phishing or romance scams to establish communications with the victim. Then they direct the victim to download a mobile beta-testing app promising incentives like large financial payouts.The FBI has discovered fraud schemes wherein unidentified attackers contact victims on dating and networking apps. Then they ask the victim to download mobile beta-testing apps like cryptocurrency exchanges. This allows the hackers to steal the victim’s information. These apps ask the victims to enter legitimate account details into the app, sending money they believe will be invested in cryptocurrency, but instead the victim funds are sent to the cybercriminals.If a victim downloads one of these fraudulent beta-testing apps masquerading as a legitimate cryptocurrency investment app, the app can extract money from the victim through fake investments.Red flags for such malicious appsFBI has recommended some indicators that will help users to identify these malicious apps: Mobile battery draining faster than usual Mobile device slowing down while processing a request Unauthorised apps installed without the user’s knowledge Persistent pop-up ads A high number of downloads with few or no reviews Apps that request access to permissions that have nothing to do with the advertised functionality Spelling or grammatical errors, vague or generic information, or a lack of details about the app’s functionality within the description Pop-ups that look like ads, system warnings, or reminders The FBI has also offered a few other recommendations for user safety: Check app developers and customer reviews before downloading. Do not send payment to someone you have only spoken to online, even if you believe you have established a relationship with the individual. Do not provide personal or financial information in email or message and do not respond to email or message solicitations, including links. Do not download or use suspicious-looking apps as a tool for investing unless you can verify the legitimacy of the app. Be aware of a sense of urgency or threats, such as ‘your account will be closed’ or ‘act now’ Be wary of unsolicited attachments, even from people you know. Cybercriminals can “spoof” the return address, making it look like the message came from a trusted associate. Do not respond. If an email, email attachment, or message seems suspicious, do not open it, even if your antivirus software indicates that the message is clean. Attackers are constantly releasing new viruses, and the antivirus software might not have the signature. Don’t click links in emails or text messages. Many cyber criminals use legitimate-looking messages to trick users into providing login details. Check the URL by hovering over the link and check for inconsistencies. Scrutinise attachments and website hyperlinks contained in emails, even from people you think you know and save and scan any attachments before opening them. Keep software up to date. Restrict app permissions and uninstall apps you do not use. The FBI requests victims report fraudulent, suspicious or criminal activity to the FBI Internet Crime Complaint Center at www.ic3.gov.

ACT Fibernet, the internet service provider has announced an interesting offer for its subscribers on the occasion of 77th Independence Day of the country. As part of the Independence Day offer, the service provider will be giving free speed upgrades for its customers. The company has announced that from August 15 to August 31, its subscribers will get automatic speed upgrades by simply tapping on the banner within the ACT Fibernet App. In order to avail the offer, the users must ensure that they have upgraded their ACT Fibernet app.The Speed Boost upgrades are as follows: – Customers with speeds below 100 Mbps will be upgraded to 100 Mbps.– Customers with speeds ranging from 100 to 300 Mbps will enjoy an upgrade to 300 Mbps.– Customers experiencing speeds between 300 to 500 Mbps will be upgraded to 500 Mbps.“We invite our customers to embrace the power of enhanced connectivity as we continue to redefine the digital landscape in the country. As India powers ahead at full throttle, this Independence Day, we are providing a free speed upgrade to our customers so that they can have the freedom to do much more with ACT Fibernet “said Ravi Karthik, chief marketing officer, ACT Fibernet.

Smartphones have come a long way to offer high-speed charging, vibrant displays and professional camera performance. However, OEMs still need to work on solving one problem with their device screens. When consumers use their smartphones outdoors on a rainy day, the touchscreens don’t function properly when wet. To crack this issue Chinese smartphone maker OnePlus has developed a new screen that handles touch input even when the device is wet. The company is rumoured to launch the new Ace 2 Pro smartphone on its home turf on August 16. With this smartphone, the company will introduce a new technology named the “Rain Water Touch” feature. What is Rain Water Touch According to a report by 9to5Google, OnePlus has showcased the upcoming Ace 2 Pro smartphone Chinese social media platform Weibo. The mid-range smartphone is equipped with a new screen technology that will allow the phone to accurately accept touch input when the screen is also being hit with water. In the video, the OnePlus Ace 2 Pro was put to the test against an iPhone 14 Pro. The Apple phone faced trouble accurately while handling touch when the screen was wet. At times, the iPhone also completely ignored the touches while some of them were inaccurate as well. This happens with almost all smartphones and OnePlus is planning to change that. How does it workMost smartphone displays depend on capacitive technology to detect the user’s finger. This uses electrical conduction to detect when and where the finger hits the screen. This happens very fast. However, when the screen is wet, that detection is affected by water as it also conducts electricity. As per the report, this design OnePlus is using (expected to be developed by Oppo) is said to be powered by unique touch algorithms and a custom chip to solve this issue.OnePlus hasn’t announced the launch of the Ace 2 Pro in other markets yet. The phone is expected to be released outside China with a different branding. This technology is rumoured to arrive with the upcoming OnePlus 12 flagship smartphone which reportedly looks very similar to OnePlus 2 Ace Pro.

Honor is all set to make a comeback to the Indian smartphone market. The Chinese smartphone maker has started teasing the launch of its upcoming product in the country. Honor’s resurgence has been hinted at through various posts on its HONORTechIndia Instagram and X (formerly Twitter) profiles. The brand has also established a telegram channel under the name “HONOR TECH” and unveiled forthcoming fan contests as part of its plans. Now, Madhav Sheth, former Realme CEO shared a post on ‘X’ confirming that Honor will soon launch its new smartphones in India. “Exciting News Alert! Honor Smartphones will be launched soon in India. Join us on this incredible journey as we empower the future with Honor Tech. #FeelTheFreedom #FeelTheHonor #TechForIndians,” posted Sheth. This means that Honor may soon launch the Honor 90 smartphone series in India. The upcoming Honor 90 series consist of two smartphones — Honor 90 and Honor 90 Pro. The company has already launched the two smartphones in China and is expected to bring the same variants to India. Honor 90 and Honor 90 Pro specificationsThe Honor 90 boasts a 6.7-inch FHD+ OLED display, presenting a pixel resolution of 2664×1200. In contrast, the Honor 90 Pro elevates the experience with a 6.78-inch FHD+ OLED display that boasts a 120Hz refresh rate.Both models operate on the Android 13 operating system, draped in the brand’s distinctive MagicOS 7.1 layer. These smartphones offer multiple of memory options, featuring up to 16GB of RAM and a maximum of 512GB internal storage.Under the hood, the Honor 90 relies on the octa-core Qualcomm Snapdragon 7 Gen 1 chipset, while its counterpart, the Honor 90 Pro, houses the octa-core Qualcomm Snapdragon 8+ Gen 1 SoC.The camera setups distinguish the two: The Honor 90 hosts a triple rear camera ensemble headlined by a 200MP main sensor, complemented by a 12MP ultra-wide angle lens and a 2MP depth sensor. On the flip side, the Honor 90 Pro steps up the game with a 200MP primary camera, accompanied by a 32MP telephoto lens and a 2MP depth sensor. Both models share a dual selfie camera configuration, showcasing a 50MP main sensor alongside a 2MP depth sensor.Powering these devices are robust 5000mAh batteries, with the Honor 90 benefiting from 66W fast charging, while the Honor 90 Pro takes it a step further with 90W fast charging support.

The vehicle will come in three variants, the Ola S1 X (with a 2 kWh battery), the Ola S1 X and Ola S1 X+ (with a 3 kWh battery each) Along with the new vehicle, Bhavish Aggarwal also introduced the new vehicle platform, the Gen 2 platform, that will be featured on all Ola Electric vehicles With this, the mobility unicorn now has a range of five electric two-wheelers, including the new Gen 2 S1 Pro, which will retail at INR 1.47 Lakhs In an event on Independence Day, 2023, Bhavish Aggarwal-led Ola Electric launched a new series of its electric vehicle (EV), the Ola S1 X series of scooters, along with the next generation of platforms for all Ola Electric vehicles. The vehicle will come in three variants, the Ola S1 X (with a 2 kWh battery), the Ola S1 X and Ola S1 X+ (with a 3 kWh battery each). “This scooter will end the ICE age,” said Bhavish Aggarwal during the launch. The Ola S1 X can go up to 195 kilometres on a single charge and can reach a top speed of 120 km/h. The vehicle can hit 0-40 km/h in 2.6 seconds, and Ola Electric claimed it to be the fastest electric scooter in the country. However, these stats are valid for the 3 kWh S1 X, with the other two having slightly different ranges and top speeds. The S1 X+ will start at INR 1.09 Lakh, with the purchase starting today. The 3 kWh S1 X will retail at INR 99,999. The 2 kWh variant will retail at INR 89,999. All three scooters invite a discount of INR 10,000 if a customer reserves the scooter this week. Along with the new vehicle, Bhavish Aggarwal also introduced the new vehicle platform, the Gen 2 platform, that will be featured on all Ola Electric vehicles. According to the mobility unicorn, the new platform will feature a new motor, a new battery, a new electric control unit and a new frame, reducing the number of parts needed, the costs and energy consumption. Ola Electric also said the new battery will separate low-voltage and high-voltage boards, improving thermal performance. With this, Ola Electric now has a range of five electric two-wheelers, including the new Gen 2 S1 Pro, which will retail at INR 1.47 Lakh.  Alongside the new platform, Ola Electric has also introduced the latest version of its software, the MOVE OS 4. The startup has planned a beta launch starting September 15, with a timeline of mid-October to bring it to all users. Meanwhile, the startup also announced the launch of 100 new service centres across India, taking the total service centres to more than 300. The development comes as Ola Electric saw its net loss almost quadruple to INR 784.1 Cr in the financial year 2021-22 (FY22) from INR 199.2 Cr in FY21. However, the numbers for FY22 are not comparable with those of FY21 as the electric vehicle (EV) startup began delivering its escooters only in December 2021. Operating revenue stood at INR 373.4 Cr in FY22. The startup primarily earns revenue through the sale of its escooters. Further, reports suggest its losses for FY23 will hover around INR 1,116 Cr ($136 Mn) and revenue of about INR 2,750 Cr ($335 Mn), missing its publicly-stated goals for the financial year. Meanwhile, Singapore’s sovereign wealth fund Temasek is set to lead a $300 Mn – $350 Mn funding round in Ola Electric. The PE firm is said to be looking to invest $100-150 Mn in the electric vehicle maker.