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Thursday, June 15, 2023 3:27:39 AM
From the podcast interview
EFL started looking at new rev streams. They found
1. data analytics real-time battery monitoring
2. leasing
Their batteries aren't degrading like the competition which have issues after 4-5 yrs. This has created a whole new ball game. Raymond has already started to create a rental program.
Because of their EFL battery residual value, the rental program operating costs have now come on par with cheap batteries
Their 2 largest retail clients have peak periods where they need more batteries for "periods of time". So they are leasing them. And the rates are very good according to Raj. The units are PAYING FOR THEMSELVES in 12 months. Banking partner didn't want to do this at first, but has been going along with it. Will use the units in ESS when not renting. Very profitable model Raj has said.
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