An entrepreneur, Harshal Mahadev Nakshane, revealed India’s first AI car in current season of the hit reality TV show, Shark Tank India. It is a hugely successful show which has created a massive interest in entrepreneurship in India. Pitchers approach the Sharks with their businesses to seek financial aid, as well as their expertise. Recently, a man came to the show displaying his AI car which runs on a Hydrogen fuel cell. He was asking for Rs 2 Crore in exchange for 4% of equity in his company. Let us take a look at the details of this unique vehicle.
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India’s First AI Car
Impressively, the entrepreneur from Yavatmal in Maharashtra developed this car himself in his garage using basic tools. It took him 18 months to come up with this prototype and costed around Rs 60 lakh. This is the first prototype which he brought on the show. Before commencing his pitch, he even took the Sharks out for a ride in his vehicle. After a while, the car was able to drive and manoeuvre itself using AI. It was mighty impressive since there were no proper markings on the road and the space was narrow. Even one of the Sharks acknowledged this fact. However, it did get stuck at a slope. The entrepreneur mentions that this is because it is constructed out of basic tools and technologies. Advanced prototypes won’t have such issues, which is why he is seeking investment.
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Hydrogen Fuel Cell
He claims that the main advantage of this car is that it has a hydrogen fuel cell. He mentions that after 6-7 years of ownership, EVs mostly require to replace the battery. The cost of the battery is around 40% of the total cost of the car. Therefore, it is a huge challenge in the mass adoption of electric cars. But with hydrogen fuel cells, no such issue crops up. In fact, the refuelling of hydrogen just take 5 minutes to refuel for 1,000 km of range, much like petrol or diesel cars as opposed to hours with EVs. Also, the energy density of Hydrogen is higher than traditional fuels. Therefore, the advantages of using hydrogen fuel cells are aplenty. However, the cost of producing green hydrogen is extremely high. Also, the infrastructure around this product is not widely available. Unfortunately, the Sharks decided not to invest due to many reasons including the ones mentioned here.
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Author’s Note
Hydrogen cars are not many even at the global level. The most prominent models around the globe include Hyundai Nexo, Toyota Mirai and BMW iX5 hydrogen. These sell in extremely limited numbers. Many countries are working on hydrogen including India. But we still have a long way to go. In fact, many carmakers are constantly working on hydrogen cars and ways to use hydrogen to power cars. But a lot needs to be done. We shall keep an eye out for more such cases.
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