IIT-Kanpur Linked Noida-Based Startup Receives Bulk Order From Tesla India For Portable Smart Inverters
Oxy Neuron India Pvt. Ltd, a Noida based startup, has received its first order for ‘Magic Box’ Smart Lithium wall mount portable inverter from Tesla India.
The company claims 15-year battery life and a five-year battery replacement guarantee on portable smart inverter that can also be used as an electric vehicle charging station.
Tesla India, the subsidiary of Elon Musk's company, has placed a bulk order for portable inverters with a Noida-based company that can also be used as an electric vehicle charging station—probably the first of its kind in the country ahead of the launch of Tesla’s much-anticipated automobiles.
Oxy Neuron India Pvt. Ltd.—a startup incubated at Startup Incubation and Innovation Centre (SIIC) situated at IIT Kanpur—said on 16 November that the company had received its first order for ‘Magic Box’ Smart Lithium wall mount portable inverter from Tesla India.
According to reports, the device was unveiled at the IIT Kanpur Outreach Centre in Noida in the presence of Bhanu Pratap Singh Verma, who is the Minister of State in Ministry of Micro, Small and Medium Enterprises, DIG, CISF Prabodh Chandra, and dignitaries from IIT Kanpur including Professor Amitabha Bandyopadhyay, Dr Nikhil Agarwal–CEO of FIRST and C3i, IIT Kanpur, as well as Vikash Prakash—Portfolio Manager at SIIC, IIT Kanpur.
The 'Magic Box Smart Inverter' costs Rs 25,000 and comes in three models: 1KW, 2KW, and 3KW, all of which claim to provide nearly double-battery backup.
ER Ashutosh Verma, Founder of Oxy Neuron said: “We have received our first order of Magic Box Inverter from Tesla India. The government’s support to startups is a boost for startups like ours to develop more and more innovative products.”
According to him, the device is expected to solve the issue of electricity backup in rural India. It is an Internet of Things (IoT) gadget that may be controlled via a smartphone application. It boasts a 15-year battery life and a five-year battery replacement guarantee.
Vikash Prakash from SIIC said: “We are thrilled to be part of such innovation which is on way to revamp and begin a new phase in rural India."
In comparison to transformer-based inverters in the market, the Magic Box Inverter promises to be 94 per cent more efficient. It is powered by LiPo4 batteries with high-quality cells and is manufactured with pure copper wire.
According to Verma: “This [Magic Box Inverter] is capable of revolutionising the industry in the future ahead.”
Oxy Neuron India has collaborated with a variety of government and non-government organisations in fields such as hydrology, cybersecurity, clean energy, artificial intelligence, robotics and forensics.
However, Tesla's entry into India is expected to help local manufacturers, as the company may rely on them for local part sourcing due to chip shortages and supply bottlenecks.
Nitin Gadkari, the Union Minister for Roads and Highways, announced last month that he had requested Musk's Tesla to come and manufacture electric cars in the country, adding that the government will provide all necessary help.
He also said at the India Today Conclave 2021: “You [Tesla] should manufacture electric cars in our country, and also export cars from India."
As per early reports, the government may consider lowering the tax rate on imported electric vehicles with a value of less than $40,000—including the car's cost, insurance, and freight—from 60 to 40 per cent. Sources also said earlier that authorities are considering lowering the rate to 60 per cent from 100 per cent for electric vehicles worth more than $40,000.
Even though there is a possibility that the government may decrease import duties and provide other benefits to Tesla, it would need the EV giant to invest in establishing a manufacturing unit in the country.
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