Industry
Bengaluru fast leaving other cities behindedit
One industry far from software services is electric vehicles. Bengaluru’s got a fleet of auto makers targeting that market like scootermaker Ather Energy, EV motorbike manufacturer Emfux and Altigreen, which made the electric Tata Ace and the Piaggio Ape. And, crucially, there’s Micelio, a fund floated by former Infosys CEO SD Shibulal’s family office investing exclusively in electric mobility.
Food Delivery App Saves 50% Costs In Electric Vehicle Trials, Now Wants Fleet Of 500edit
Electric vehicles are gaining preference over other modes of transport, especially in the logistics industry in India. The benefits of running an EV, coupled with incentives given by the government to boost their use is proving useful for e-commerce and the related logistics firms. Hence, many have already announced their plans to add EVs in their fleet in considerable numbers. Grofers, has now joined the bandwagon, having said that it is aiming to deploy 500 electric vehicles within this year.
Competition
Hyderabad-based Cellestial E-Mobility raises funds to launch electric tractorsedit
Hyderabad-based startup Cellestial E-Mobility, on Tuesday, said that it has raised $200,000 in its first round of investment from angel investor Meka Sudhakar Reddy, who is based out of Singapore and has over 18-years of expertise in the logistics space. According to the company’s sources, the funds came through in the first week of June.
Farasis Energy partners with Napino for Made in India batteries for EVs in Indiaedit
Napino Auto & Electronics Ltd has announced its partnership with Farasis Energy USA, Inc. to provide locally assembled lithium-ion battery packs for two and three-wheelers for the Indian market. The two companies have signed a Memorandum of Understanding (MoU) which states that Napino and Farasis will jointly develop the business in India.
International
Electric Vehicles Lack Infrastructure Despite Surging Demandedit
Consumer trends point to a rise in electric vehicles in the coming years. However, investing in the infrastructure to support battery-powered cars and hybrids has been surprisingly thin, according to multiple market participants. Driven by government’s increased efforts to de-carbonize the transport sector and consumer trends away from gas-fueled vehicles, EV grew to 890,000 in 2018 from 300,000 in 2015. Through popular cars such as the Nissan Leaf and Tesla Model S, electric vehicles are expected to account for 14% of the market by 2025.