New Delhi: DG Innovate, a UK-based company led by ex-Tesla member, has partnered with EVage Motors to bring 98.5% efficient e-motor in India. These motors initially are going to manufactured in Punjab. DG Innovate’s proprietary Pareta electric drive system is going to be manufactured in India by EVage.
E-motors will be in three different sizes; One size is suitable for E2Ws and E3Ws, the second is for passenger e-trucks, and mid-range motors, and the third will be heavier motors for buses and trucks.
“The idea is to develop these platforms, get them ready for production, manufacturing and procuring motors for EVage, which is an immediate customer with this JV. And then we’ll explore how to sell to potential people who want one of these three forms within India,” Inderveer Singh, EVage founder and CEO told ETAuto.
The joint venture comes in 60-40 ratio, where 60% is owned by DG Innovate and 40% by EVage Motors. The motor will be entirely manufactured in India, though it may need to import specific components that aren’t currently produced in the country.
DGI and EVage will manufacture the motor in EVage’s Modular Miniature Manufacturing (Mcube) micro factory. The factory currently produces over one electric truck a day, for a total of more than 300 to date. Those trucks are supplying to FMCG, e-commerce and logistics companies throughout India.
Future plans
Both the CEOs aim for India as their current target market. Peter Bardenfleth-Hansen, CEO of DGI , said, “With the right investments, India will become a global leader in this and for DGI, this is the right place to be, main purpose of DGI taking this JV is that we can see that the market opportunity here”.
Talking about the capex investment required for the joint venture, Hansen said, Both the companies are planning to invest EUR 2 to 5 million in the coming years for its escalation. “It will be very much customer demand-driven.”
Hnasen added, the e-motor is going to be “60-70% smaller than a similar motor from a competitor… thus reducing its weight with the same output and higher efficiency rates.. It also leads to reduced cost.”
Export plans of the company
“I believe that we are specifically at this point focusing on domestic customers,” said Singh. They will aim Asian EV market first, which offers more efficient electric trucks, resulting in longer life and a reduced cost of ownership for fleet owners, with an average range increase of 5-7% on the same charge. However, both of them aim to for the European market whenever they plan exports.
