Week In India: Ola Electric To Manufacture Electric Cars By 2024 In India; Tangedco To Issue Tender For Setting Up EV Charging Units; And More

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Ola Electric To Manufacture Electric Cars By 2024 In India

Indian ride-hailing company Ola Electric will start manufacturing electric cars in India by 2024, Chief Executive Bhavish Aggarwal stated. The range of the vehicles can reach up to 500 km, according to Bhavish Aggarwal. “We definitely have a full roadmap in the works in the car space… We will definitely have cars at the entry price market. We’re starting with a premium car and that comes out in 18 to 24 months,” he said. Ola, which Japan’s Softbank Group currently backs, didn’t give a production target or investment figure. The company manufactures presently electric scooters. Aggarwal stated that, while Tesla is leading the charge in developing electric vehicles better suited for Western markets and companies like Tesla, India can be a leader in scooters, small cars, and motorbikes, for which there is a greater global demand.

Narendra Modi Gives Push To Adoption Of Electric Vehicles

Prime Minister Narendra Modi said on Monday that India must be “Aatmanirbhar” (self-reliant) in order to realize its dream of an electric vehicle (EV). Modi addressed the nation at the Red Fort ramparts on the 75th Independence Day. He said that the country must “reach the next stage of energy independence” and that solar energy, biofuels, and the adoption of EVs are all options. Modi’s push for electric vehicles was made as the electric-two-wheeler industry faces scrutiny over battery explosions, fire incidents, and others that have led to many government investigations. The prime minister asked the sector to take advantage of growing opportunities in areas such as semiconductors and electric vehicles in a webinar on “Make in India for the World”.

Mahindra And Volkswagen Explore Strategic Alliance To Accelerate Electrification of Indian Automotive Market

The Volkswagen Group and Mahindra & Mahindra Ltd. (M&M) announced they intend to expand their cooperation. Both companies signed a Term Sheet on the supply of MEB electric components for Mahindra’s new, purpose-built electric platform INGLO, deepening the Partnering Agreement from earlier this year. The cooperation intends to have a volume of more than one million units over a lifetime and includes the equipment of five all-electric SUVs with MEB components. In addition, the two companies will explore further opportunities for collaboration, opening the perspective toward a broader strategic alliance to accelerate the electrification of the Indian automotive market.

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Exponent Energy, 15 Minutes EV Rapid Charging Startup Raises Series A Round Of $13 Million Led By Lightspeed

Exponent Energy, a startup simplifying energy for EVs, recently announced that it has raised $13 Million in a Series A funding round led by Lightspeed, with all existing institutional investors such as YourNest VC, 3one4 Capital & AdvantEdge VC also participating. The amount raised will be utilised to scale up the e^pump network to 100 location points per city, starting with Bengaluru; streamline e^pack production; and deliver more Exponent-enabled EVs. Previously Exponent Energy has raised $6mn in Seed and Pre-Series A rounds from prominent investors such as the family office of Dr. Pawan Munjal, Chairman, and CEO, Hero MotoCorp (World’s largest two-wheeler manufacturer), Motherson Group, a leading global supplier of automotive components along with YourNest VC, 3one4 Capital, AdvantEdge VC and a few angel investors.

Optibus to Collaborate with Delhi Transport Corporation to Optimize the Operations of 150 Electric Buses

Optibus, the end-to-end, cloud-native software platform for public transportation planning and operations, has been declared as one of the winners of the Better e-Bus Challenge 2022, organized by the World Resources Institute India (WRI) with support from the Transformative Urban Mobility Initiative (TUMI) E-Bus Mission, to discover technological solutions for transforming the public bus sector. Optibus was selected as the winner for their software platform that improves transportation planning, scheduling, operations and management of electric buses (e-buses). As a result of the competition, Optibus will pilot its solution in collaboration with the Delhi Transport Corporation (DTC) to optimize DTC’s electric fleet.

Tangedco To Issue Tender For Setting Up EV Charging Units

The Tamil Nadu Generation and the Distribution Company (Tangedco) will soon launch a tender for electric vehicle charging units. V. Senthil Balaji’s office stated that 100 locations have been identified across the highways for opening EV charging points. According to the office of the electricity minister, the central energy ministry has issued sanctions for 256 charging stations in Tamil Nadu. 151 charging stations have been operational. This includes stations owned by private entities as well as public-sector entities such as the Chennai corporation. In Tamil Nadu’s 2019 electrical policy, there will be a charging station every 25km on the roads and highways. These charging stations should be three kilometres from electrical substations. Tangedco, the state’s nodal agency, is responsible for ensuring that every charging station has the right facilities. This includes waiting rooms, parking spaces and drinking water dispensers.

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goEgoNetwork Raises USD 8 Million Equity Funding

goEgoNetwork, an EV charging infrastructure solutions startup, has raised Series A equity funding in the amount of USD 8 million. goEgoNetwork’s vision of creating a strong EV charging network will see the company use the equity funding to develop and install the Fast DC Charging Station product. The startup will be able to play a major role in six of the most important Indian cities. “The EV industry is growing exponentially and the funding gives us growth capital to pursue the big plan of having the EV charging infrastructure in place for the people who are not buying because of range anxiety. It helps us in consolidating our position of being the preferred network for EV users by having charging stations which are having 100 per cent uptime and to ensure that you #staychargedup,” says Sayantan Chakraborti, Managing Director & Co-Founder, goEgoNetwork.

SUN Mobility Partners With EVeez To Deploy Over 10,000 Electric 2Ws By Next Year

SUN Mobility, the leading provider of energy infrastructure and electric vehicles (EVs) has partnered with EVeez. EVeez is one of the pioneers in Electric Vehicle subscription ecosystems in India, dedicated to last mile and middle mile connectivity. To tackle the growing environmental concerns, this partnership aims to further bolster the adoption of electric vehicles in India as the companies look to deploy over 10,000 vehicles across the country in the coming year. To promote mass adoption and usage of EVs, EVeez and SUN Mobility aim to offer co-mobility as a solution wherein the same vehicle can be used for various purposes by multiple people. For this deployment, EVeez will leverage SUN Mobility’s state-of-the-art battery-swap solution-based Mobility-as-a-Service offering.

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Switch Mobility Unveils India’s First And Unique Electric Double-Decker Bus – Switch EiV 22

Switch Mobility Ltd (‘Switch’), the next-generation, carbon-neutral electric bus and light commercial vehicle company, today unveiled India’s first and unique electric double-decker air-conditioned bus – Switch EiV 22. Designed, developed and manufactured in India and utilising Switch’s global electric bus experience, Switch EiV 22 is equipped with the latest technology, ultra-modern design, highest safety and best-in-class comfort features. The renewed iconic double-decker bus is designed to revolutionize public transportation in the country and will set new standards in the intra-city bus market.

Mercedes-Benz Research And Development India Nurtures Evnnovator, An End-To-End EV Charging Aggregator, In India

Mercedes-Benz Research and Development India (MBRDI) fosters Evnnovator, a startup that aims to transform the EV industry by providing a comprehensive EV charging experience to end-users. Evnnovator is a unique startup in India to make EV charging simple and convenient, allowing for the widespread adoption of sustainable e-mobility. Built by an ex-MBRDI employee, Evnnovator offers all three options of finding, charging, and paying at the charging station to its users through its mobile app -FICH. Reinforcing its commitment to nurturing an innovation mindset, MBRDI supported the idea of the employee turned entrepreneur to research the EV industry. Subsequently, this employee founded Evnnovator, a start-up that aims to transform the EV industry by providing an end-to-end EV charging experience to the end-users.

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