In an interview with TimesTech, Satendra Shukla, Chief Business Officer of Maxvolt Energy Industries Pvt Ltd, shares how the company is revolutionizing the battery market through innovation in lithium technology. From advanced battery features to a robust recycling ecosystem, Satendra highlights Maxvolt’s rapid growth, global ambitions, and vision for a sustainable energy future across EV and energy storage segments.
Read the full interview here:
TimesTech: Since joining Maxvolt in 2019, how has your vision evolved in shaping the company’s role in revolutionizing the battery market with lithium technology?
Satendra: Since my onboarding at Maxvolt in 2019, my goal has shifted from merely developing lithium battery technology to establishing a well-researched ecosystem built around innovation, sustainability, and customer-driven solutions. The mission was to meet the increasing need for secure, environment-friendly energy storage by utilizing next-generation lithium technology. However, the vision has evolved over time to incorporate innovation in pioneering battery recycling, increasing energy efficiency, and creating sophisticated solutions for electric vehicles (EVs) and energy storage systems (ESS).
Through the adoption of a culture of ongoing improvement, Maxvolt has made outstanding achievements, such as a 253% growth in FY 2023-24 revenues, a successful IPO listing, and the setup of a 23,000 sq. ft. manufacturing facility with an annual production capacity of 97.2 MWh. This journey has reaffirmed my conviction to combine technological advancement with sustainable approaches to propel the future of clean energy.
TimesTech: Maxvolt is committed to constant innovation. Can you share some of the key breakthroughs or technological advancements that have set your lithium batteries apart in the industry?
Satendra: Innovation has propelled advancements in technology at Maxvolt. Our Active Balancer Technology today improves battery capacity and fire resistance, as well as advanced operational heat management, active battery control, and battery endurance solutions that are designed to dramatically improve battery life. It’s also possible for our lithium batteries to have over-temperature alarms and a sleep switch for safety during use, because we provide smart safety when the battery itself is not in use. Backing these innovations in our onsite support across 19,000+ pin codes and our battery take-back program, we culminate our customer services as fundamental to environmental responsibility. Through regular innovations, we leverage performance, sustainability, and customer satisfaction.
TimesTech: With Maxvolt experiencing 5X revenue growth year-over-year, what strategies have contributed to this impressive growth, and how do you plan to sustain this momentum in the coming years?
Satendra: Our strong growth is driven by a combination of factors, including innovation in lithium battery technology, expanding our dealer and distributor network, and focusing on quality and reliability. We also prioritize customer satisfaction and after-sales support. To sustain this momentum, we are continuously investing in R&D, strengthening our supply chain, and exploring new market opportunities.
TimesTech: As Maxvolt plays a crucial role in India’s electric vehicle and energy storage sectors, what challenges and opportunities do you foresee in these rapidly evolving markets?
Satendra: India’s EV and energy storage industries are approaching transformative stages that contain challenges and opportunities. One major challenge that needs to be considered is the stable supply chain of raw materials that are necessary for scaling production. High technology investment and regulatory compliance can also act as hurdles. These challenges, however, are counterbalanced by major opportunities.
Government interventions of renewable energy resources, including tax credit schemes and tenders for energy storage projects, are a phenomenal opportunity for large-scale growth. There is also an increase in demand for energy storage optimization and battery recycling, which aligns with our core strategy. By leveraging our expertise in lithium battery technology, we will be a front-runner in this transition to provide sustainable energy solutions with an emphasis on high performance in both the EV and ESS markets.
TimesTech: You mentioned expanding Maxvolt’s capabilities to cater to both domestic and international markets. What steps are being taken to strengthen Maxvolt’s presence globally?
Satendra: We are taking several steps to establish a strong global presence. This includes forming strategic partnerships, expanding our manufacturing capacity, and ensuring compliance with international standards. We are also working on repurposing old batteries for various stationary applications and setting up a lithium battery recycling plant. Our goal is to build a complete ecosystem that supports sustainability and long-term growth.
TimesTech: As a leader with an insatiable thirst for knowledge and innovation, how do you stay ahead in such a dynamic industry, and what advice would you give to young professionals aspiring to enter the energy sector?
Satendra: Innovation and continuous learning are the most essential fundamentals for keeping pace in the lively energy sector. I try to peer across trends, technologies, and even see changes in the profile of policy regulations. Promoting cross-functional collaboration within Maxvolt enables constant process improvement and progressive innovation. Leveraging advanced systems like ERP software brings an integrated approach to operations from inventory tracking to waste reduction.
In terms of advice for young professionals hoping to be a part of the energy sector, there is a need to keep that sense of wonder alive and keep learning. A serious understanding of both the technical aspects and business issues needs to be built. When things get tough, one should be robust and innovative. Future energy would be dependent on sustainable and advanced technological innovations, and those with this in mind will be the big players answering the industry’s needs.
