Delhi-based three-year-old energy storage start-up Inverted Energy has announced a buyback offer for its lithium-ion battery for e-rickshaws. Under the scheme, post the warranty period the company is offering to payback Rs 10,000 for the e-three-wheeler battery.

Raghav Jain, co-founder, Inverted Energy said: “Inverted 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. Our buy-back offer underscores our belief in our product and our commitment in creating a stronger and cleaner India.”

According to the company, a typical three-wheeler lithium-ion battery consumes 40 percent less energy, charges 7 times faster, and has 3 times longer life than conventional batteries. It also outperforms typical lead-acid batteries by offering range of more than 100km. The company estimates that at present, of the over 1.5 million e-rickshaw drivers in the country, only 1-2% drive lithium-ion run e-rickshaws, mainly due to lack of awareness and their perceived cost differentials.

The start-up says being one of the leading lithium-ion battery company  in the country, 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 lifecycle of their batteries. This, in turn, would enable better earning opportunities for them, besides the positive impact on the environment.

With the rapidly growing demand for e-rickshaws, Inverted says it is a perfect partner to provide an affordable alternative to switch e-rickshaw riders to lithium-ion batteries. With huge government investments and efforts towards the growth of the EV industry, it expects there will be a boom for the use of lithium-ion batteries in e-rickshaws, as they become more affordable and convenient for use by the commercial and domestic markets.