Tesla Power USA, the fastest growing brand of batteries in India, plans to invest USD 1 billion in India in the next three years to expand its unique OPEX model Power as a Service (PaaS).
Rural India especially farmers are still undergoing ‘power anxiety’ due to a lack of adequate power supply through grids. There are a large number of villages and hamlets where is no uninterrupted electricity supply. The governments find it expensive to buy batteries to store the energy coming from renewable energy sources such as solar and wind. Farmers’ irrigation plans get disrupted to a lack of power. A solution to these problems has been found and governments are coming forward to tie up with a multinational company excelling in the battery business. Once the state governments take newly launched ‘Power as a Service’ (PaaS) a unique OPEX model by Tesla Power USA, they would not need to buy batteries for power storage and their CAPEX will be reduced radically. The move would facilitate rural power supply benefitting farmers the most.
“We have nearly seven lakh villages in the country. The regular power supply is still a challenge. We are here to address these challenges. We will be joining hands with state governments to provide PaaS. We are adding the PaaS model vertical to our business plan to help the consumers convert their CAPEX into OPEX. This will reduce the burden of upfront investment, maintenance and replacement of batteries for a long duration thus empowering rural India to meet its growing energy demands,” Kavinder Khurana, MD, Tesla Power USA told Agriculture Post.
Tesla Power USA, the fastest growing brand of batteries in India, plans to invest USD 1 billion (Rs 7,500 crore approximately) in India in the next three years to expand its unique OPEX model PaaS. The company has also launched its ‘Mission 1,000’ for the current Financial Year (FY 2022-23). The company’s vision is to contribute to the increasing power demand in India by providing batteries and energy storage solutions on a lease to Indian consumers through their PaaS model.
Tesla Power USA has completed its first year in India. It offers innovative products using American technology thereby making them affordable and durable. With the PaaS model for a consumer or client, CAPEX is converted into OPEX. Tesla Power USA is among the fastest-growing brand of batteries in India. Within one year of operations in India, Tesla Power USA was able to sell over Rs 100 crore worth of batteries and energy solutions in India. They have 250+ distributors in 20+ states in India. The company sells more than 130+ products through its 500+ Exclusive Tesla Power Shops (Sales and Service Centres) and more than 5000 MBO dealers in India.
“Our Mission 1,000 targets Rs 1,000 crore turnover, 1,000 client base, and the same number of Exclusive Tesla Shops (Sales and Service Centre) in FY 2022-23. Our vision of introducing the PaaS model has been validated and endorsed by Industry experts as well as financial investors. The company has planned and budgeted to deploy and manage batteries and energy storage solutions worth around USD 1 billion on PaaS model in India between FY 2022 to 2025,” added Khurana.
“Tesla Power USA’s PaaS model will be the single biggest revolution in the energy storage solutions that will be introduced in a growing economy like India and the APAC region. It will be a global game-changing OPEX model solution that will be available to the telecom sector, renewable energy sector – solar, wind and hydro, banking and data centres, and the fast-growing EV sector, creating a positive impact on their feasibility and sustainability,” said Shaibal Ghosh, Chief Executive Officer – APAC Region, Tesla Power USA.
“It’s a tipping point in the history of power storage solutions and we are already being celebrated with great encouragement and support from the state governments and industry leaders of those sectors who will benefit from it,” Ghosh added. Last year, Tesla Power USA introduced American technology-based products such as inverter batteries, automotive batteries, two-wheeler batteries, tractor batteries, truck batteries, solar batteries and solar panels, lithium-ion batteries, home UPS, solar UPS, industrial UPS2v/ 12v batteries, smart inverters and hybrid VRLA, SMF VRLA batteries in India.