India’s electric vehicle (EV) market is at a crucial juncture, with growing government support, increased environmental consciousness, and rapid technological advancements driving the industry forward. As the country gears up for ambitious EV targets—30% electric private cars, 70% commercial vehicles, and 80% two- and three-wheelers by 2030—startups like Innovmon are stepping in with groundbreaking solutions.
One such innovation comes from Innovmon’s flagship product, the DuoPack R Hybrid Energy Storage System (HESS), exemplifies its commitment to innovation. Achieving Technology Readiness Level 6, the DuoPack integrates multiple energy sources, enabling seamless and non-stop driving without the need for frequent charging. The product has been developed under a grant of the project by the Ministry of Heavy Industries, Government of India. The system has been tested on various platforms, including e-bicycles and electric two- and three-wheelers, showcasing its scalability and effectiveness. Innovmon is also venturing into retrofitting traditional petrol-powered vehicles with electric systems, expanding its product offerings and market reach.
A Breakthrough in EV Storage Technology
Founded in December 2019, Innovmon’s journey began with a unique idea from a young innovator in Mysore who proposed using wind energy generated by moving trains. This concept evolved into a system where vehicular motion could be harnessed to charge EV batteries. The result is the DuoPack HESS, which significantly reduces the need for frequent charging, a game-changer in EV technology. The system’s ability to scale across different types of vehicles further highlights its potential to disrupt the market.
Positioning for Future Growth
Commenting on Innovmon’s future plans, Dr. P.K. Ashwini Kumar, Founder and Managing Director of Innovmon, shared, “At Innovmon, our goal has always been to push the boundaries of what’s possible in EV technology. We’re excited to introduce an electric bicycle and a three-wheeler capable of handling heavy logistics loads using solar, battery, and wind power. These innovations are just the beginning of what we envision as a more sustainable, green future for transportation in India.”
He added, “Our expansion into the EV repair and maintenance market, especially for batteries and motors, is another key focus area. With EV adoption rising, there’s an increasing need for reliable servicing infrastructure. We want to ensure that our technology is not just advanced but also well-supported throughout its lifecycle.”
Supportive Ecosystem Bolsters Innovmon’s Prospects
The supportive government initiatives bolster Innovmon’s trajectory. In Phase-II of the FAME India scheme, the Ministry of Heavy Industries (MHI) approved a capital subsidy of Rs. 800 crore (US$ 96.13 million) to set up 7,432 Electric Vehicle Public Charging Stations (EVPCS). With a budgetary outlay of Rs. 10,000 crore (US$ 1.43 billion) under the FAME II policy and an Electric Mobility Promotion Scheme budget of Rs. 500 crore (US$ 60.18 million), the government’s focus on enhancing green mobility creates a conducive environment for Innovmon to flourish.
The Indian EV market has also attracted significant investment, with global automakers like Hyundai Motor planning to invest over US$ 2.45 billion in Tamil Nadu to boost their EV programs, including assembling battery packs and installing charging stations. As India emerges as a global hub for auto component sourcing—exporting over 25% of its production annually—Innovmon is well-positioned to capitalize on these developments and contribute to the nation’s green transportation future.
Innovmon’s innovative approach, combined with a supportive ecosystem of government policies and investments, promises a bright future for the company and the broader EV industry in India. As the country gears up for a sustainable transportation revolution, Innovmon is set to play a pivotal role in shaping the future of electric mobility.
