Inverted Energy launches buyback plan for its e-rickshaw batteries

The programme will be launched on October 20 to encourage e-rickshaw owners to switch to green energy, the company said in a statement.

New Delhi: Lithium-ion battery maker Inverted Energy Pvt Ltd on Monday announced a buyback programme for its e-rickshaw batteries, offering to pay Rs 10,000 upon expiry of the product warranty period.

The programme will be launched on October 20 to encourage e-rickshaw owners to switch to green energy, the company said in a statement.

“Inverted Energy is paying back this amount after the warranty period ends, intending to encourage more rickshaw riders to switch to green energy, and contribute to building a cleaner and more efficient world,” Inverted Energy Cofounder Raghav Jain said.

The company claimed that currently, out of 15 lakh e-rickshaws in the country, only 1-2 per cent are lithium-ion run e-rickshaws, mainly due to lack of awareness and their perceived cost differentials.

“Three-wheeler lithium-ion batteries consume 40 per cent less energy, charge 7 times faster, and have 3 times longer life than conventional batteries. They also outperform typical lead-acid batteries in ranges of more than 100km,” the company said.

Inverted Energy said it aims to take the first step towards motivating more e-rickshaw drivers to switch to green energy, leading to a smaller footprint of their energy consumption and emissions, across the life cycle of their batteries.