Tariq Javed, VP Petromin Express
Lead Acid Batteries have been around for a long time now, and it seems like they aren’t going anywhere anytime soon. Director of Consortium for Battery Information (CBI), Alistair Davidson, gave an interview to Design News where he states “Lead batteries continue to be the main power source for cars with petrol or diesel engines for engine starting, powering electrical systems in key-off mode, and for security and emergency functions. They are likely to remain in that position for the foreseeable future and in addition, there is a huge aftermarket for replacement batteries which is much larger than the OEM market.”
The Lead Acid Batteries used in vehicles are also known as – SLI batteries- Start, Light, Ignition – the three basic functions they need to perform in most vehicles.
The potential in Saudi Arabia for these batteries is estimated to be close to $5 million worth of auto battery units annually. The market is currently dominated by two manufacturers in the Kingdom for a combined market share of 55%. The balance 45% is provided by suppliers from South Korea, Europe and Indonesia.
After gaining traction at Petromin Express and with battery sale growth of 15% battery through 2019 and rising customer confidence, the opportunity for Petromin to become a significant player in the Saudi Arabian battery market has grown even further. At this juncture, the exciting launch of Petromin’s own brand – Electromin is as significant as it is timely.
When it comes to the our marketing efforts our team has put in for Electromin, a lot of thought has gone into a series of brainstorming sessions on topics ranging from the technical specs, the quality of manufacturing and aesthetics of the final product. The final product is a stand-out green colour battery container, which gives an edge amongst the traditional blacks and greys! That this product is launched from the iconic PE stable –is sure to endear itself in minds of the customers in the country.
Electromin auto batteries will be positioned to cater to the top-tier and mid-tier market segments. Not only that: this positioning corresponds well with the Petromin brand of lubricants and other services.
The leadershop at Petromin envisions a wide horizon for the Electromin Brand: the launch of our auto batteries could well be the first foray in this direction. In addition to the inherent value as batteries for vehicles, we aim to also have our brand recognised for use for energy/power solutions: this would include batteries spanning from household AA size alkaline batteries to auto industry to Electric Vehicle dynamic charging needs.
Given the pedigree, the respect and customer reach that the Petromin Brand has established within Saudi Arabia, introducing an in house battery brand under the name Electromin is the clear and logical step forward, building on existing core strengths.